Your share of the cost of coverage will be made through convenient payroll deductions, unless you are in a job classification that requires you to make benefits payments directly to BNY Mellon. All of your contributions, except for spouse/qualified domestic partner and child life insurance and supplemental life insurance premiums, are deducted from your pay before taxes are deducted (unless your dependent does not meet tax dependents requirements). By contributing on a pre-tax basis, you lower your current taxable income.

The per-pay premiums for each benefit option and coverage level are shown online when you enroll. If you elect certain life insurance coverage or the 50 percent long-term disability option, you may receive a credit from BNY Mellon, as shown when you enroll online—the system will calculate your per-pay costs automatically.

For federal tax purposes, the full value of the health care benefits provided to your dependents (e.g., your qualified domestic partner and his or her children) is taxable, unless such dependents qualify as your federal tax dependent(s) for health plan purposes or you claim a federal tax exemption for them.

Note: Certain coverage choices will result in imputed taxable income in addition to your regular coverage premiums. For more information on imputed income, see "Cost of Coverage" in the Medical and Prescription Drug section.