1 / 17

Proposed Benefit Design Changes

Timeline . Spring 2010

lada
Télécharger la présentation

Proposed Benefit Design Changes

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. Proposed Benefit Design Changes Faculty and Staff Brown Bag Luncheon October 13, 2010

    2. Timeline Spring 2010 Subcommittee recommended the following goals: 0% cost increase for University paid benefits Consider options for family-friendly medical plan designs Summer 2010 Benefits Consultant (JW Terrill) Summary of Findings: Above average benefit plan designs compared to market Very generous cafeteria plan funding Very generous paid sick leave benefits

    3. Benchmarking Employee Contribution Percentage

    4. Timeline (continued) Summer 2010 Benefits Consultant (JW Terrill) Recommendations: Consider family-friendly medical plan option Implement employee contribution for the low deductible medical plan Reduce paid leaves and include a paid time off leave bank Reconfigure paid sick leave program and implement a short term disability plan August 2010 Request for Proposals (RFPs) Medical/Rx, dental and vision insurance coverages Medical/Rx RFP results: Anthem: proposed cost increase Two other bidders: proposed cost decreases

    5. Recommendations: Medical Insurance Change to United Healthcare 13% decrease in employee only premium Reduces Pre-Medicare retiree premiums to the active employee premium - 43% decrease in premium United Healthcare proposal overview: Same deductible/cost share levels Rx copays Good provider network Health Savings Account (HSA) banking option

    6. Recommendations: Medical Insurance Convert Medical Plan B into Base Plan Employee premium 100% paid by University $750 in cafeteria plan funding After $1,500 deductible$10/$30/$50 Rx copays Implement University supplement for dependent premiums Spouse = $75/month supplement Child(ren) = $100/month supplement Family = $200/month supplement

    7. Recommendations: Medical Insurance Convert Medical Plan A into Accelerated Plan Employee contribution to employee only premium based on your previous years reported Form W-2 Medicare wages (box 5) $250 cafeteria plan funding $10/$30/$50 Rx copays, not subject to deductible or cost share MRA will be available

More Related