CSU Benefits Update FY 20082009

1
CSU Benefits Update FY 2008/2009

• Presented by
• Sue Mitchell, VP for Business Affairs
• Updated coverage beginning 6/1/08

2
No Change in Premiums or Coverage This Year

• This is the second consecutive year that CSU has
  not had a rate increase
• No change in health insurance deductible or
  coinsurance

3
Opt Out Benefit

• CSU now offers an Opt Out Benefit to all full
  time employees
• Any employee who decides to decline CSUs BCBS
  health insurance benefit plan will receive 60.00
  per month in their paycheck.

4
Long Term Disability

• Sun Life Financial is our new carrier
• CSU will continue to pay the premiums for Basic
  Long Term Disability (60 coverage)

5
Life Insurance

• Sun Life Financial is our new carrier
• Employee Optional Life Insurance coverage has not
  changed (2 times salary)
• CSU will continue to pay half of the premium for
  the Employee Life Insurance

6
Life Insurance Changes

• Optional Life Insurance Spouse Coverage Offers
  More Choices
• Employees can purchase a policy for their spouse
  at a much lower rate of .18/1000 with a value
  starting at 10,000.
• This amount can be increased in 5,000 increments
  up to the lesser of 50 of the employees
  benefit or 50,000.
• Old policy only offered spouse policy valued at
  only 1,000 for .35 with no buy up option.

7
Life Insurance Changes

• Optional dependent life rates reduced
• Child 6 months and olderThe cost is now .90 per
  child for 5,000.00 life insurance policy
• (equates to a reduced rate of 0.18 per 1,000
  of benefit)
• The cost was 0.35 for 1,000 life insurance
  benefit under the old policy

8
Life Insurance Changes

• Basic Life Insurance
• CSU pays for Basic Life Insurance valued at
  10,000.00 for any employee covered by CSUs BCBS
  health insurance benefit plan.
• The Basic Life Insurance now includes Emergency
  Travel Assistance
• Medical and personal emergency assistance for
  employees and their dependents traveling 100 or
  more miles away from home. Services provided by
  Assist America.

9
Life Insurance Long Term Disability

• Please direct all questions to
• Rachel Phillips at ext. 8070 or
• Jason Dunn at ext. 8047
• or
• For more information please stop by the Annual
  Benefits Fair held on
• April 18, 2008 - 1100am-400pm
• in the Charleston Room