1 / 54

Pace University New Employee Benefits Orientation 2011-2012 Full Time Faculty & Staff

Pace University New Employee Benefits Orientation 2011-2012 Full Time Faculty & Staff. Click to Replay Audio. Menu. Forward. Benefits Orientation Menu. Full Presentation. Reimbursement Accounts. Medical Plans. Employee Assistance Program. Dental Plans. Income Protection.

dayo
Télécharger la présentation

Pace University New Employee Benefits Orientation 2011-2012 Full Time Faculty & Staff

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Pace UniversityNew Employee Benefits Orientation 2011-2012Full Time Faculty & Staff Click to Replay Audio Menu Forward

  2. Benefits Orientation Menu Full Presentation Reimbursement Accounts Medical Plans Employee Assistance Program Dental Plans Income Protection 403(b) Retirement Plan Long Term Care Life Insurance Education Glossary Click to Replay Audio Back Menu Forward

  3. Your Benefits@Pace Total Rewards Click to Replay Audio Back Menu Forward

  4. Benefit Eligible Employee What is the definition of a “benefit eligible employee?” • Employees who are employed at .80 FTE (28 hours per week) or greater in a regular full-time position that is expected to be on-going for an indefinite period of time. • Employees who are graduate assistants, temporary workers and student employees are not benefit eligible. Click to Replay Audio Back Menu Forward

  5. Who Are Your “Eligible Dependents?” • Your spouse or registered domestic partner • Your natural, adopted, step child(ren) or your registered domestic partner’s children who meet one of the following criteria: • For medical/vision plan coverage, to age 26 • For dental plan coverage, to age 19, or to age 23 if full-time student status is maintained • Children placed in your legal guardianship pending adoption • Foster child(ren) under the age of 26 for medical/vision, age 19 for dental (or maximum age of 23 with full-time student status) • Court Ordered guardianship of a child(ren) under the age of 26 for medical/vision, age 19 for dental (or maximum age of 23 with full-time student status) No exclusions for pre-existing conditions. Click to Replay Audio Back Menu Forward

  6. Pre-tax and Post Tax Deductions • Most premiums are deducted on a semi-monthly basis through payroll deduction • The portion of premiums paid through payroll deduction for dependents you CANNOT claim is taken from your check after taxes (post-tax deduction) – for example, all domestic partner benefits are post-tax • Check with your tax advisor for information about your specific situation • Pre-tax deductions include: • Medical premiums • Dental premiums • Vision premiums • Flexible Spending Accounts • Retirement Contributions Click to Replay Audio Back Menu Forward

  7. Benefits Effective Dates • First business day of the month following or coinciding with full time date of employment. • Enrollment must be completed within 31 days from date of hire, otherwise you must wait for the next Open Enrollment Period. • Benefits are extended to spouses/registered domestic partners as well as eligible dependent children. • Dependent children, in medical/vision, covered to age 26. For dental, to age 19. If full-time student, covered to end of month in which he/she turns 23. • Young Adult Option effective July 1, 2010 Click to Replay Audio Back Menu Forward

  8. Medical Plans There are 4 CIGNA plan options available. Common Features of all Plans: • CIGNA Open Access Plus network • Mail order available – 2X retail for 90-day supply • Discounts through Healthy Rewards program (www.mycigna.com) • Vision coverage – CIGNA Vision • No referrals to see a specialist • No need to select a Primary Care Physician, although recommended • Emergency Room co-pay waived if admitted Click to Replay Audio Back Menu Forward

  9. Medical Plans • Choice of 4 Options with CIGNA HealthCare • CIGNA In-Net 50 Plan • CIGNA In-Net 20 Plan • CIGNA 90/70 Plan • CIGNA 100/70 Plan • Even though our plan year extends from July 1st through June 30th, deductibles, maximums, etc. are based upon a calendar year Click to Replay Audio Back Menu Forward

  10. CIGNA In-Net 50 Plan In Network Benefits • $50 co-pay for Office Visits to PCP/Ob-Gyn • $50 co-pay to see a Specialist • Hospitalization: $500 per day co-pay to annual maximum of $2,500; then 100% • $150 Emergency Room co-pay • In-Network Rx - $15/$35/$75, Mail Order 2x • Annual Out-of-Pocket Maximum - $5,000/$10,000 • Outpatient Surgery - $500 co-pay Out of Network Benefits • Do Not Apply Click to Replay Audio Back Menu Forward

  11. CIGNA In-Net 20 Plan • In Network Benefits • $20 co-pay for Office Visits to PCP/Ob-Gyn • $20 co-pay to see a Specialist • No charge for hospital • $75 Emergency Room co-pay • In-Network Rx - $10/$25/$50, Mail Order 2x • Out of Network Benefits • Do Not Apply Click to Replay Audio Back Menu Forward

  12. CIGNA 90/70 Plan In Network Benefits • Annual Single Deductible: $250 • Annual Family Deductible: $500 • $20 co-pay for Office Visits to PCP • $20 co-pay to see a Specialist • Deductible and 10% Coinsurance for Hospital • $75 Emergency Room co-pay • In- Network Rx $10/$25/$50, Mail Order 2x • Out-of-pocket maximum for the calendar year: • $750 Single out-of-pocket maximum • $1,500 Family out-of-pocket maximum Out of Network Benefits • Annual Single Deductible: $500 • Annual Family Deductible: $1000 • Coinsurance: 70% CIGNA responsibility, 30% Member responsibility • All charges subject to usual, customary, and reasonable (UCR) rates • Out-of-pocket maximum for the calendar year: • $2,000 Single out-of-pocket maximum • $4,000 Family out-of-pocket maximum Click to Replay Audio Back Menu Forward

  13. CIGNA 100/70 Plan • In Network Benefits • $10 co-pay for Office Visits to PCP/Ob-Gyn • $15 co-pay to see a Specialist • No charge for hospital • $75 Emergency Room co-pay • In-Network Rx $10/$25/$50 Rx, Mail Order 2x • Out of Network Benefits • Annual Single Deductible: $300 • Annual Family Deductible: $600 • Coinsurance: 70% CIGNA responsibility, 30% Member responsibility • All charges subject to usual, customary, and reasonable (UCR) rates • Out-of-pocket maximum for the calendar year: • $1,800 Single out-of-pocket maximum • $3,600 Family out-of-pocket maximum Click to Replay Audio Back Menu Forward

  14. In-Network vs. Out-of-Network In-Network (Open Access Plus) Out-of-Network The out-of-network option provides you with the freedom to select any healthcare provider you prefer. If you choose providers that are out- of-network, you are responsible for paying any fees charged over the allowable charge, in addition to paying a higher annual deductible and coinsurance. • The network consists of providers who have been contracted to accept reduced fees negotiated by CIGNA. • While some plans allow you to use both in- and out-of-network benefits, using providers that are in- network ensures that you receive the maximum benefits available through the plan. • A list of network providers is available online at www.cigna.com and www.mycigna.com Click to Replay Audio Back Menu Forward

  15. Pharmacy Plan • Plan is included with your medical plan. • Pharmacy benefits include retail and mail service/home delivery. Plan uses a 3-Tier Formulary (In-Network Pharmacy) • Generic prescriptions, Preferred prescriptions, Non-preferred prescriptions • See individual plan summaries for co-pay amounts for a 30-day supply • See www.mycigna.com for prescription co-payment cost quote Mail Order Service – 90 day Supply of Medication • Mail Order Service: prescription mailed to you at the cost of two 30-day co-payments. Requires 90 day prescription from your medical care provider Click to Replay Audio Back Menu Forward

  16. Medical Plan Waiver • Option to waive medical coverage and receive $750 annually (pro-rated to $31.25 per paycheck) • If coverage is waived initially, can enroll in medical benefits during plan year due to qualifying “Change in Family Status” • If medical coverage is waived, can elect to enroll in CIGNA Vision Click to Replay Audio Back Menu Forward

  17. CIGNA Vision Plan • Included in CIGNA medical coverage; also available if medical coverage is waived • Offers both in- and out-of-network coverage • Eye exam once per 12 months, frames once per 24 months • Find an in-network provider at www.mycigna.com • Receive a separate ID card Click to Replay Audio Back Menu Forward

  18. Dental Plans • CIGNA Dental Care (DHMO, In-Network Only) • CIGNA Dental PPO (Offers Both In- and Out-of-Network) Click to Replay Audio Back Menu Forward

  19. CIGNA Dental Care (DHMO) • Dental Health Maintenance Organization (DHMO) • Must choose a Primary Care Dentist • No claim forms; No annual benefit maximum • Visit www.cigna.com for participating dentists • You will Receive ID Card Click to Replay Audio Back Menu Forward

  20. CIGNA Dental PPO • Freedom of choice • Diagnostic and preventive – 100% • Annual deductible ($50/individual;$150/family), based upon a calendar year • $2,000 annual benefit maximum per person (PPO dentist), $1,500 per person (non-participating), based upon a calendar year • You will not receive an ID card - generic card available • www.cigna.com for in-network (PPO) providers Click to Replay Audio Back Menu Forward

  21. CIGNA Dental PPO Click to Replay Audio Back Menu Forward

  22. Changes in Family Status • Events that Qualify for a Change in Coverage Level: • Change in legal marital status • Birth or adoption • Death of a covered dependent • Employment-related loss of group coverage • Loss of dependent status • You 31 days from date of event to enroll in/terminate coverage with appropriate documentation • Allows change coverage level, notplan Click to Replay Audio Back Menu Forward

  23. COBRA • Continuation of coverage for group health insurance that would otherwise be lost due to specific events (i.e. divorce, child’s loss of dependent status) • General Notice – provides information about COBRA and your rights and responsibility to notify the University Benefits office regarding such events • Visit Human Resources Website for further information Click to Replay Audio Back Menu Forward

  24. HIPAA Privacy Rule • Effective April 14, 2003 • Protected Health Information (PHI) • Privacy Notice • Privacy Officer • Visit Human Resources Website for further information Click to Replay Audio Back Menu Forward

  25. Medicare Part D • Required notification for newly hired employees • Visit Human Resources Website for further information Click to Replay Audio Back Menu Forward

  26. 403(b) Retirement Plan • Defined contribution plan administered by TIAA-CREF • Employee contribution – tax deferred • University contribution if eligible Click to Replay Audio Back Menu Forward

  27. 403(b) Retirement PlanEmployee Contributions • Salary Reduction Agreement and TIAA-CREF account required • No service requirement for employee contributions • Immediately vested • Pre-tax employee contributions • For 2010 and 2011, IRS maximum is $16,500 • Additional catch-up for 50+ is $5,500 • Must enroll to participate • Allowed up to four salary reductions per calendar year • Loan feature Click to Replay Audio Back Menu Forward

  28. 403(b) Retirement Plan University Contributions Eligible once Age and Service Requirements are satisfied and required Employee Contribution of at least 3%: • Eligibility Criteria May be Waived if: • Worked at higher education institution or 501(c)(3) organization with • 403(b) or 401(a) and, • Met service requirements at former employer and are of required age and, • Employed at organization within 3 years of working at Pace University Click to Replay Audio Back Menu Forward

  29. 403(b) Retirement PlanUniversity Contributions • Eligible for University contribution on first of the month following age, service and employee contribution requirements • University contributes 9% of base salary if employee contributes at least 3% of base salary • Employees contribute on a pre-tax basis • Immediately vested Click to Replay Audio Back Menu Forward

  30. 403(b) Retirement PlanInvestment Options • TIAA-CREF www.tiaa-cref.org/Pace • On-campus counseling sessions – available periodically Click to Replay Audio Back Menu Forward

  31. Life Insurance • Basic Life • Pace University provides life insurance equal to 1X base annual salary (up to $100,000) at no cost • Voluntary Life • Ability to purchase additional (voluntary) life insurance at 1X, 2X, or 3X base salary; maximum of basic and voluntary combined coverage is $750,000 • Rates (based upon age, salary, and coverage level) are guaranteed until June 30, 2013 • Evidence of Insurability for employee is not required during initial enrollment period for amounts under $400,000 • Any amounts over $400,000 require medical evidence of insurability Click to Replay Audio Back Menu Forward

  32. CIGNA Secure TravelTravel Assist Services • Component of Basic life insurance coverage • Available when traveling 100 miles or more from home • Comprehensive range of information, referral, coordination, and arrangement services designed to respond to medical care situations and emergencies • 24 hours per day, 365 Days per year • Available to spouse/registered domestic partner/ dependents traveling with you • Visit Human Resources Website for further information Click to Replay Audio Back Menu Forward

  33. Dependent Life Insurance • Coverage: • Spouse/Domestic Partner - $10,000 • Children from ages 14 days to 19 years (age 23 if full-time student) - $5,000 • Cost: $1.63 / paycheck • Rate is the same if covering a spouse or a spouse/registered domestic partner plus children • Evidence of Insurability, for dependents, is waived during initial enrollment period Click to Replay Audio Back Menu Forward

  34. Reimbursement Accounts • Flexible Spending Account (FSA) • Health Care • Dependent Child Care • Verify account balance and expenses at www.mypayflex.com • Commuter Reimbursement Account (CRA) • Mass Transit • Parking • Verify account balance and expenses at www.BenefitResource.com Click to Replay Audio Back Menu Forward

  35. Flexible Spending Accounts (FSA) • Cannot change initial election during the plan year unless there is a • qualifying “Change in Family Status “ • Must re-enroll each plan year to participate Click to Replay Audio Back Menu Forward

  36. FSA Grace Period (Health Care Only) • Eligible expenses incurred between July 1st of the new plan year and September 15th of the new plan year will be applied to the remaining balance from the previous plan year (as of June 30th) before they are applied to the new FSA plan year balance. • Example: An employee has $100 remaining in the Health Care FSA as of June 30th. The employee incurs a $120 expense for medical procedures on July 12th. The employee can submit a claim for the $120 which will be reimbursed vs. his $100 remaining account balance for the previous plan year and apply the $20 toward the new plan year. • All expenses for the plan year from July 1st through June 30th, (plus grace period) must be submitted for reimbursement by September 30th. Click to Replay Audio Back Menu Forward

  37. PayFlexDebit Card • MasterCard Debit Card • Utilize a debit card, at authorized merchants, to pay for eligible health care expenses • FSA account is debited and the provider is paid directly from your FSA account • Eliminates need for claim form • Requires that you retain all receipts for submission to PayFlex as requested, as the plan is governed by the IRS. Click to Replay Audio Back Menu Forward

  38. Commuter Reimbursement Accounts (CRA) • Rolls over from year to year • If using claim forms, must submit expenses to BRI within 180 days • Can enroll and dis-enroll at any time Click to Replay Audio Back Menu Forward

  39. eTRAC Commute Debit Card • MasterCard Debit Card • Used for both mass transit and parking expenses • “Stored Value” card • Allows pre- and post-tax contributions • Requires that you retain all receipts for submission to BRI as requested, as the plan is governed by the IRS. Click to Replay Audio Back Menu Forward

  40. FSA vs. CRA Click to Replay Audio Back Menu Forward

  41. Employee Assistance Program(EAP) • Work/Life assistance services provided to you and family members living with you • Life Assistance Program - EAP benefit through Pace’s disability carrier- CIGNA • Available 24 hours per day/7 days per week 1-800-538-3543 • Web Site: www.cignabehavioral.com/CGI • User Name: rewards • Password: savings Click to Replay Audio Back Menu Forward

  42. Employee Assistance Program(EAP) • Maximum of 3 face-to-face counseling sessions per member, per incident, at no charge • Employee should coordinate EAP provider with current health plan for continuation of care Click to Replay Audio Back Menu Forward

  43. Income Protection *Requires Medical Certification Click to Replay Audio Back Menu Forward

  44. Long Term Care • Voluntary benefit offered through UNUM • Available to spouses/registered domestic partners, parents, in-laws and grandparents from ages 18-80 • Evidence of Insurability, for employee only, will be waived if you enroll within the initial 31-day period • Rates are comparably lower than individual policies • Convenient payroll deductions for premiums • Portable if you retire or separate from Pace University • Visit https://w3.unumprovident.com/enroll/paceto review the details of the plans, calculate monthly costs and complete enrollment forms Click to Replay Audio Back Menu Forward

  45. Education • On-Campus Tuition Remission • Eligible semester following full-time date of hire • Must follow Office of Student Assistance (OSA) guidelines – late fees, withdrawals • Off-Campus Tuition Remission • Employee • Dependent • Eligible semester following full-time date of hire • Tuition Exchange Programs • Tuition Exchange, Inc. – 7 years FT service • Council of Independent Colleges (CIC) – 3 years FT service Click to Replay Audio Back Menu Forward

  46. On Campus Tuition Remission • 100% tuition remission for self, spouse/registered domestic partner and eligible dependent children (up to age 24); 50% for Special Programs • Dependent children, from 24 through 30, receive a 50% benefit and 25% benefit for Special Programs • Books, special fees, tutorials, independent studies are not included • Certificate and Continuing Education courses are covered for employee to acquire certain skills when directly job-related (i.e., at Pace Computer Learning Center) Click to Replay Audio Back Menu Forward

  47. Graduate Tuition Remission • For the employee only, the first $5,250, per calendar year, in graduate tuition value is tax-free • Spouses and dependent children taking graduate courses are taxed in full • Contact the Payroll Office for information regarding possible tax implications Click to Replay Audio Back Menu Forward

  48. Off Campus Tuition Remission Eligible Dependent • Matriculated in undergraduateprogram outside of Pace • Children up to age 24, $600/year • Maximum benefit is $2,400 per eligible dependent Employee • Enrolled in job-related graduate program, toward degree not offered at Pace • Public colleges $1,000/academic year • Private colleges $1,500/academic year •Maximum benefit is 3 years Click to Replay Audio Back Menu Forward

  49. Tuition Exchange Click to Replay Audio Back Menu Forward

  50. NY College Savings Program • Save for eligible higher education expenses through payroll deductions • Minimum contribution of $15/paycheck • Qualified withdrawals are exempt from federal and state taxes • Eligibility for NYS tax deduction – up to $10,000/year • Maximum contributions - $100,000/beneficiary; $235,000/lifetime • 1-877-NYSAVES or www.nysaves.org Click to Replay Audio Back Menu Forward

More Related