2012-13 BENEFITS & Retirement Orientation
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Transcript of 2012-13 BENEFITS & Retirement Orientation
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2012-13BENEFITS & RETIREMENT
ORIENTATIONRegular Faculty
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CMU Choices Benefits Health Plans
Medical & Prescription Drug* Dental* Vision*
Life & Disability Employee Term Life* Long Term Disability* Short Term Disability* Spouse/OEI Term Life^ Child Term Life^
Flexible Spending Accounts (FSA) Health Care Account* Dependent Day Care Account**Pre-Tax Benefit ^Post-Tax Benefit
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Plan Year & Open Enrollment CMU Choices Plan Year: July 1st – June
30th For New Hires:
All benefit elections effective through 6/30/2013
2012-13 is the first year of a 2-year dental enrollment cycle
Open Enrollment: Typically held the first two weeks of May Changes to benefit elections take effect July 1st
of the new plan year
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Coverage Effective DatesAppointm
ent:All CMU Choices Benefits Begin On:
All CMU Choices Benefits End On:
10-Month Faculty
August 16th for those starting the beginning of Fall SemesterJanuary 1st for those starting the beginning of Spring Semester
The last day of CMU employment, unless the member has worked the entire academic year (Fall & Spring Semesters), in which case benefit coverage continues through August 15th of the current year.
12-Month Faculty
Date of appointment Last day of employment
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Qualifying Status Changes Status change form must be completed and
received by Benefits office within 30 days of the event.
Qualifying Status Change Events: Retrospective:
Birth, adoption, or placement of adopted a child Coverage is effective back to the date of event
Prospective: Marriage, divorce, loss of dependent status, unpaid
leave of absence, etc. Coverage is effective as of the next available pay period
Contact the Benefits & Wellness office with any status change questions: 989-774-3661 or [email protected]
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New Hire Online Enrollment You must enroll in benefits online within 30
days of hire date. Revisions permitted until your deadline
Changes to elections previously entered may impact your coverage and/or your payroll deductions
After your deadline has passed, you will not be able to change your benefit elections until the next open enrollment period or within 30 days of a qualifying status change event
Benefit elections not entered after the deadline, will be automatically enrolled into: MESSA Choices II-single; 1x salary EE life; 67% LTD No Coverage for dental, vision, STD, dependent life,
and FSA
Spouse/OEI Eligibility Other Eligible
Individual (OEI) Must complete an OEI
designation form Will be taxed on the full
premium of the OEI (and OEI dependents) coverage
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Spouse/OEI eligible for Medical & Prescription
Drug Dental Vision Life If spouse/OEI also works at CMU Both employees cannot cover each other and/or children on medical &
prescription drug, dental, or vision plans Both employees may take dependent life coverage for each other and/or
dependents
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Child Eligibility
Children, Step-Children, or Children of OEI eligible for Medical & Prescription Drug Dental Vision Child Life
Eligible from birth through the end of the calendar year of the child’s 26th birthday
Coverage for children who were disabled prior to age 19 may be available past age 26 if certain criteria are met. See link below for more information.
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Medical/Prescription: MESSA Mandatory Benefit
Choices II Preferred Provider Organization (PPO) Community Blue Network (BCBS) Provider Locator: www.messa.org
SuperCare1 Traditional Plan - May use any BCBS provider (no
referrals needed) No Coverage - Employee must elect at least single
level medical coverage unless he/she is covered elsewhere
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MESSA Plan Comparison:
ServiceChoices II
SuperCare1In-Network Out-of-
NetworkAnnual
Deductible None $250-person/ $500-family
$50-person/$100-family
Annual Out-of-Pocket
MaximumNone $4,000-family $1,000-family
Health Maintenance
Exam
100% approved amt. – 1x per
yearNot covered
100% approved amt. – 1x per
yearWell-Baby, Child Care,
and Childhood Immunizations
100% approved amt.:•6 visits/year thru age 1•2 visits/year age 2 & 3•1 visit/year age 4 – 18
Not covered
100% approved amt.:•6 visits/year thru age 1•2 visits/year age 2 & 3•1 visit/year age 4 - 18
Office Visits and
Consultations$5 co-pay
80% approved amt. after deductible
90% approved amt. after deductible
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MESSA Plan Comparison:
ServiceChoices II
SuperCare1In-Network Out-of-
NetworkHospital
Emergency Room
$25 co-pay (waived if
accidental injury or admitted)
$25 co-pay (waived if
accidental injury or admitted)
•90% of approved amt. after deductible•100% of app. amt. (within 90 days) for accidental injury
Urgent Care Center $10 co-pay
80% of approved amt. after deduct.
Ambulance Services 100% of
approved amount100% of approved amount
90% of approved amount after
deduct.Inpatient
Hospital (Semi-private Room)
100% of approved amount
80% of approved amount after
deduct.
100% of approved amount
Hearing Aids-audiometric
exam, evaluation &
test
100% up to the scheduled
amount every 36 months
100% up to the scheduled
amount every 36 months
Not covered – unless due to
accidental injury
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Prescription Drug Coverage: for both Choices II & SuperCare1 plans
Type of Prescription For Each 34-day supply at Local Pharmacy:
Mandatory Generic Prescription Plan $10 co-pay
Brand without a generic equivalent $20 co-pay
Brand with a generic available, but you want the brand:
$20 co-pay, plus the cost difference between the brand and generic
90-Day Supply using Medco Mail order or at a retail pharmacy
You pay two month copayment instead of three $20 for generic/$40 for brand medications
Annual copayment maximum $1,000 per member/$2,000 per family calendar copayment maximum
University Health Services Pharmacy Prescriptions filled for CMU faculty, staff, &
dependents Confidential service, online refills & on-campus
deliveries
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Additional MESSA Information: MESSA group application form AND
MESSA/Cigna beneficiary form must be completed and returned to benefits office for online enrollment to be effective
Includes $5,000 group term life insurance coverage
Unlimited lifetime benefit maximum Calendar year for processing deductibles & co-
pays Will receive separate card from MESSA
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Dental: Meritain Health Voluntary Benefit
D 100/50/50 D 100/75/50/50 No Coverage
Two-year dental election 2012-13 is 1st year of
2-year dental cycle – election binding thru June 30, 2014
Optional Dentemax network www.dentemax.com
Pre-authorization recommended for services over $200.
Plan year deductible, co-pay, and plan maximum (July – June)
Will receive a separate card from Meritain Health
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Dental Plan Comparison:Benefit D 100/50/50 D 100/75/50/50
Class I – Preventative Services
2 cleanings & 1 set of X-rays/plan year
Covered - 100% R/C
Covered - 100% R/C
Class II – Basic ServicesFillings, crowns, root canal, oral
surgeryCovered - 50% R/C
after deductibleCovered - 75%
R/CClass III – Major Services
Dentures, bridges, dental implants
Covered - 50% R/C after deductible
Covered - 50% R/C
Class IV – OrthodonticsChild under age 19 when
services beganNot Covered
Covered - 50% R/C $2,000
lifetime maximum
DeductibleClass II & III services only
$50/person $150/family None
Plan Maximum per Plan Year $1,000 per person $1,500 per person
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Vision: EyeMed Voluntary Benefit
Vision 20 plan No Coverage
In-network providers: www.eyemedvisioncar
e.com Choose ‘Access’
network
After exhausting benefits, the discount on additional eyewear is 40%
Plan year co-pay and allowance (July – June)
Lasik information: Call 1-877-552-7376
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Vision Coverage:Vision 20 Plan In-Network
Member CostOut-of-Network
AllowanceExam with dilation $20 co-pay Up to $35 allowance
Frames $60 allowance20% off balance $30 allowance
Standard Plastic Lenses
(single vision, bifocal, trifocal, lenticular &
progressive)
$20 co-payon all types of lenses
$25 - $55 allowance depending on type of
lenses
Conventional Contact Lenses
$90 allowance15% off balance over
$90$72 allowance
Disposable Contact Lenses $90 allowance $72 allowance
FrequencyOne exam, one frame & one set of lenses (for
glasses or contact lenses) every plan year (July 1 - June 30)
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Term Life Insurance: The Hartford Mandatory Benefit
1.0 x Salary 1.5 x Salary 2.0 x Salary 3.0 x Salary 4.0 x Salary*
*Evidence of Insurability paperwork must be completed and submitted to The Hartford for approval
Includes core life and AD&D
Core life reduces 50% at age 70
Additional support available at: www.HartfordLifeConversations.com
Term life insurance does
not have cash value. Policy ends on termination date.
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Long-Term Disability: The Hartford Mandatory Benefit
67% of monthly earnings to $6,000 max
Coverage begins after 180 calendar days of being prevented from performing the essential duties of your occupation due to an injury or illness
Accrued sick time/vacation time may be used until approved for LTD (see contracts)
Waiting period for pre-existing conditions
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Short Term Disability: The Hartford Voluntary Benefit
50% of weekly earnings to $900 max 67% of weekly earnings to $1,200 max No Coverage
Coverage begins after 45 calendar days of being unable to work due to an injury or illness
Per contract, Regular Faculty have access to the Sick Leave Bank, which is designed to cover all but extreme short-term disability situations
Premiums based on spouse/OEI’s age July 1st
Coverage ends at the end of the plan year in which spouse/OEI turns age 70
Terminal Illness Benefit: 80% of benefit may be paid for spouse/OEI with less than a 12 month life expectancy
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Spouse/OEI Life: The Hartford Voluntary Benefit
$10,000 $25,000 $50,000 $75,000* $100,000* No Coverage
*Evidence of Insurability paperwork must be completed and submitted to The Hartford for approval
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Child Life Insurance: The Hartford Voluntary Benefit
$10,000 $25,000 No Coverage
Flat premium rate regardless of number of children covered
Age Range Coverage Level
Birth to 14 days old No Coverage
15 days – 6 months $1,000
6 months to age 19
Level of Coverage
Unmarried dependent
children age 19 - 26
Level of Coverage
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Flexible Spending Accounts (FSA): Benefit Consulting Group Voluntary Benefit
Health Care FSA Dependent Day Care
FSA
IRS Rules: Fund balances are
non-transferrable between plans
Any leftover money will be forfeited
Reimbursement Process: Debit card option
Keep/reuse card (3 years)
Keep receipts Paper form option
Submit forms with receipts to Benefit Consulting Group (BCG)
Must have separate direct deposit form on file with Benefit Consulting Group
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Flexible Spending Accounts (FSA):
Health Care Account Dependent Day Care Account
Description
Reimbursement for health care expenses not covered by a health care plan (deductibles, co-pays, glasses/contact lenses, dental work, & OTC medicine with prescription).
Reimbursement for dependent day care expenses while you and your spouse work or attend school on a full-time basis.
Eligibility
Your spouse, children, and parents if: they reside with you; you are responsible for their expenses; and you claim them as dependents on your income taxes. OEIs are not eligible.
Must be a dependent for federal income tax purposes and are either: a child under the age of 13 or an individual who is physically or mentally incapable of self care.
Availability Full election on effective date Contributions made to date
only
Election Levels
Minimum - $10.00 per payMaximum - $2,500 per plan year
Minimum - $10.00 per payMaximum - $5,000 per plan year
Incurred Expense Deadline
June 30(75-day grace period allows incurred expenses until September 15)
June 30
• Defined Benefit Plan• 10-year vesting period• Pension based on formula• Eligible only if worked at
certain Michigan Universities prior to 1/1/96
• Defined Contribution Plan• Immediate vesting• Pension based on accrued
earnings• Pre-enrolled in TIAA-CREF Life
Cycle Fund
University Retirement PlansCMU
CONTRIBUTION
403(b) Basic Retirement Plan
TIAA-CREF FIDELITY
Michigan Public Schools Employees Retirement System
(MPSERS)
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CMU contributes 10% of earnings No contributions or matching requirement by
employee University contributions are effective date
of hire Pre-enrollment into TIAA-CREF life cycle fund
effective with first pay At any time you may:
Change the investment fund option with TIAA-CREF, and/or
Elect to invest part or all of the university contribution with Fidelity Investments.
You are strongly encouraged to discuss your retirement investment options with a TIAA-CREF and/or Fidelity Investments counselor.
403(b) Basic Retirement Plan
• Voluntary Plan• No loan provision• Distribution without
penalty after separation from CMU employment• Taxes applied at time of
withdrawal
• Voluntary Plan• Loan provision with TIAA-
CREF only• Distribution without
penalty at age 59 ½, even if still working at CMU• Taxes applied at time of
withdrawal
Tax-Deferred Investment Plans
EMPLOYEE CONTRIBUTION
403(b) Supplemental Tax-Deferral Plan
TIAA-CREF FIDELITY
457(b) Public Deferred Compensation Plan
TIAA-CREF
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Tax-Deferred Investment Plans All contributions made by the employee as a
% of earnings - minimum $25 per pay on 457(b)
Salary reduction agreement form must be completed and returned to Benefits office Vendor application must also be completed for
TIAA (online) or Fidelity (paper) Maximum employee deferrals for 2012:
$17,000 for employees under age 50 $22,500 for employees age 50+ May defer up to maximum in both 403(b) and
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StraightLine Advisors Independent investment research firm
Pro(b) ProAdvice
Fees based on CMU retirement balance Free if CMU balance under $5,000
Contact to learn about upcoming events or to schedule an individual meeting
StraightLine Advisors
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www.myRplan.com/cmu
Phone: 877-338-4032email:
Additional Benefits Tuition Benefit Plan
24 credits per year Eligible: employee, spouse,
dependents, OEI, dependents of OEI
Taxation: Grad and Dr. level classes for
spouse and dependents Grad and Dr. level classes for
employee exceeding $5,250 All classes for OEI and their
dependents
Discount Programs CMU Discount Card
Use CMU ID for local discounts
YouDecide Save on a variety
of merchandise/services nationally
Visit Discounts website for more information30
Additional Assistance:
HR - Benefits & Wellness108 Rowe Hall989-774-3661
[email protected] – then
search keyword “Benefits”