Waiting Health Period Insurance Enrollment & Windows Summer Premiums Health Benefits & Retirement Other Retirement Insurance Plans Options Getting Enrolled & Travel Benefits
New employees are eligible for employer contribution toward the cost of their insurance premiums on the first day of the month after first day of the month after 60-Day a 60 a 60 -day waiting period. day waiting period. Example: Hire date of 9/10; Employer contribution begins 12/1. Waiting A&M Care-E/O A&M Care-E/O First 60 days First of the month after 60 days Period $623.77* $30/month* * $30 benefit credit is applied to these amounts automatically for the first year. Insurance start dates: Insurance start dates: 1) Your hire date – must choose within 7 days of hire 2) First day of the following month 3) On your employer contribution eligibility date
Enrollment Windows Enrollment Windows Initial Enrollment Initial Enrollment • 45-day enrollment window • Guaranteed issue amounts • DEFAULT health coverage DEFAULT health coverage Mid-Year Changes Mid Year Changes • Requires applicable IRS -approved change in status • Must be made within 60 days of status change Open Enrollment Open Enrollment • Entire month of July • Changes effective September 1st
Insurance Options Health Dental Vision Life/Dependent Life AD&D AD&D Long Long -Term Disability Term Disability Flexible Spending Accounts Flexible Spending Accounts
Health Insurance 101
A&M Care Plan/J Plan Blue Cross Blue Shield Cost: In-Network Provider Cost: Out-of-Network Provider Deductible $400/person; $800/person; $1,200 max/family $2,400 max/family Out-Of-Pocket $5,000/person $10,000/person; Max $10,000 max/family $20,000 max/family + deductible + deductible Copays $20 office visit; $30 specialist 50% coinsurance after deductible BVN: $5 office visit; $15 specialist Coinsurance 20% after deductible 50% after deductible BVN: 10% coinsurance Preventative No charge Not covered Care
Prescription Drugs Express Scripts Coverage included with health plan. Drug Type In-network cost: In-network cost: Mail Retail (30-day supply) (90-day supply) Generic $10 copay after $50 $20 copay after $50 deductible deductible Preferred brand- $35 copay after $50 $70 copay after $50 name deductible deductible Non-preferred $60 copay after $50 $120 copay after $50 brand-name deductible deductible
A&M Care (FY19) Monthly Premiums (After 60 -Day Waiting Period) Full-Time Employees (75% to 100% effort) Employee Employer Monthly Dependent children may Monthly Cost Contribution remain covered on Employee-Only $0 $593.77 health, dental, vision and Employee + Spouse* $341.05 $874.83 dependent life plans through age 26. Employee + Child(ren)* $225.25 $789.02 Employee + Family* $455.47 $989.24 Part-Time Employees (50%-74% effort) Employees and covered Employee Monthly Employer Monthly spouses who meet their Cost Contribution wellness incentive will each receive a $30 credit Employee-Only $330.18 $294.77 Employee + Spouse* $781.76 $435.30 Employee + Child(ren)* $623.05 $392.40 Employee + Family* $953.38 $492.51
Find a Provider www.bcbstx.com/tamus/
12 Over 9 Program • 12 months of insurance premiums deducted over 9 months • Full-time, monthly-paid employees holding less than 12 month appointments will participate in the 12 over 9 program. • New employees holding less than 12 month appointments: If insurance coverage begins after September 1 st , participation in 12 over 9 begins the following fiscal year. 4 months of insurance premiums (May-August) will be deducted from June 1 st paycheck the first year.
Dental Plans Delta Dental
Vision Superior V ision In-Network Cost Out-of-Network Reimbursement Exam w/Dilation $10 Copay Up to $50 as Necessary Frames $150 Allowance, 20% off balance over $150 Up to $90 Standard Plastic: $15 copay Lenses Standard Progressive: $15 copay $50-$100, depending on lens type Premium Progressive: Usually $35-$60 copay Standard: $0 copay and 2 follow-up visits Lens Fit Up to $40 Premium: $0 copay, 10% off retail + $40 allowance Conventional: $150 allowance, 20% off balance $150-$210, Contact Lenses Disposable: depending on lens type $150 allowance, 10% off balance Medically necessary: Paid in full LASIK 15%-50% off retail or 5% off promotional price N/A Frequency Once every 12 months N/A
Dental & Vision Premiums
Long -Term D isability • Provides salary supplement in event of temporary or permanent disability • Provides 65% of base pay - Max of $8000/month • 90-day elimination period from onset of continuous disability • Premiums based on monthly salary and tobacco use status
Life Insurance Options Dependent Life-Plan B Employee Basic Life • $7,500 life/$5,000 AD&D • $5,000 for each dependent • Included with TAMUS health plan • $1.37/month Dependent Life-Plan A Employee Optional Life • Requires OL enrollment • Multiples of salary up to 6X • Spouse: $25K increments up to $200K; • Guaranteed 3x salary during initial $50K guaranteed without evidence of enrollment insurability • Additional amounts require evidence of • Children: $10,000 each good health Employee Alternate Basic Life Dependent Life-Plan C • Requires ABL enrollment • $50,000 • Spouse: 50% of ABL coverage • Must decline TAMUS health coverage • Children: 10% of ABL coverage
• Pays benefits for death or dismemberment due to an accident • Available in $10K increments up to 10x salary or Accidental Death & Accidental Death & $800,000, whichever is less. Dismemberment Dismemberment - Employee-only coverage: $0.14/$10,000 - Employee & family coverage: $0.24/$10,000
Flexible Spending Accounts Flexible Spending Accounts Healthcare Daycare Spending • Pre-tax money to Spending Account Account use toward health or daycare expenses. Max contribution Max contribution • Must re-enroll $2,650/year $5,000/year each year. • “Use it or lose it” plans Debit card at no Dependents 12 or cost younger or disabled • 2.5 month grace period to spend funds after year- Annual total Reimbursed after end available right away account funded https://www.naviabenefits.com/
Benefits Coordination I have m edical coverage elsew here. Can I use em ployer contribution tow ard other benefits? Yes! If you certify that you have other medical coverage, you can use ½ state contribution toward Dental, Vision, Alternate Basic Life, AD&D, and Long-Term Disability plans. My spouse also w orks for the TAMU System . How do w e coordinate our benefits? You may each enroll in separate insurance plans, or you can cover one another as dependents. You’ll need to figure out what is most cost effective each year. HR can help!
Enrolling D ependents Add dependent Receive benefit Dependent Enroll in benefits records and enrollment task documents are through Workday upload dependent through Workday approved by for you and your verification during Onboarding Engineering HR family. documents
Common Dependent Verification Documents Spouse: A) Your most recent tax return showing you are married (filed jointly or separately); OR B) Marriage certificate AND proof of joint ownership (e.g. bank statement, lease agreement, car insurance document, etc.) Biological Child: A) Birth certificate; OR B) Documentation on hospital letterhead indicating birth date if child under 6 months old Adopted Child: A) Official court/agency placement papers (initial stage); OR B) Official Court Adoption Agreement (mid-stage)
Retirement Plans
Mandatory Retirement Plans
○ AIG Retirement (VALIC) ○ Fidelity Investments ORP ○ Voya Vendors ○ Lincoln Financial Group ○ Pentegra ○ TIAA-CREF
Supplemental Retirement Plans Supplemental Retirement Plans Tax Deferred Account Texa$aver Deferred (TDA); 403(b) Comp. Plan (DCP); 457 • Roth & Traditional • Roth & Traditional options options • $25 min; $19,000 max • $20 min; $19,000 max • 3 rd party vendor • 6 vendor choices • Enroll through • Enroll through Workday www.Texasaver.com • $6,000 over age 50 • $6,000 over age 50 catch-up limit catch-up limit
Benefits Office Hours Tuesday/Friday Tuesday/Friday 8:30am 8:30am-11:30am 11:30am Mechanical Engineering Office Building Mechanical Engineering Office Building (MEOB) Room 532 (MEOB) Room 532
Questions? Email engrbenefits@tamu.edu Phone 979-458-7643 26
Recommend
More recommend
