New Hire Benefits Orientation

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New Hire Benefits Orientation

• OFFICERS

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Agenda

• Health and Welfare
• Medical, Prescription Drug, Dental
• Enrollment
• Eligible Dependents
• Flexible Spending Accounts
• Life Insurance
• Long-Term Disability
• Long-Term Care
• Transit/Parking
• Retirement
• University Retirement Plan
• Voluntary Retirement Savings Plan
• Other Benefits
• Adoption Assistance Program
• Back-Up Care
• Transit/Parking Reimbursement Accounts
• Tuition

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Eligibility

• Eligibility for Coverage
• Full-time Officers
• If you enroll for Columbia University benefits,
  you may also enroll
• Your legal spouse or same-sex domestic partner
• Your unmarried children
• Up to the end of the calendar year in which they
  turn 19, OR
• Full-time students up to the end of the calendar
  year in which they turn 26 or the end of month in
  which they stop being full-time students.

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Medical Insurance

• For medical coverage, you have six choices
• You may choose among
• Aetna Choice POS II (Open Access)
• United Healthcare Choice Plus (POS)
• CIGNA POS Plan
• Aetna HMO
• HIP HMO
• CIGNA Modified Indemnity Plan
• If you have other medical coverage, you may opt
  out of coverage from Columbia University.

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Medical Insurance (cont)

• Aetna Choice POS II and United Healthcare Choice
  Plus
• National network of physicians and hospitals
• 15 co-pay for routine office visits when you use
  a network doctor
• You do not need authorization from your Primary
  Care Physician (PCP) to see a Specialist
• Out-of-network coverage is available

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Medical Insurance (cont)

• CIGNA Tri-State Plan
• Network of physicians and hospitals in NY, NJ and
  CT
• 15 co-pay for routine office visits when you use
  a network doctor
• You must select a Primary Care Physician (PCP)
  for each family member
• All network services are coordinated by your
  Primary Care Physician (PCP)
• You must see your PCP first to obtain a referral
  to a Specialist for maximum reimbursement
• Out-of-network coverage is available

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Medical Insurance (cont)

• Aetna and HIP Health Maintenance Organizations
  (HMOs)
• Local network of physicians and hospitals
• 15 co-pay for routine office visits when you use
  a network doctor
• You must select a Primary Care Physician (PCP)
  for each family member
• All network services are coordinated by your
  Primary Care Physician (PCP)
• You must see your PCP first to obtain a referral
  to a Specialist for maximum reimbursement
• NO COVERAGE or reimbursement for any medical
  services received outside of the network

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Medical Insurance (cont)

• CIGNA Modified Indemnity Plan
• You seek treatment from the provider of your
  choice.
• You must meet a deductible (3,000
  individual/6,000 family) before you receive
  reimbursement
• After you meet the deductible, you receive
  reimbursement of 100 up to reasonable and
  customary (RC) limits

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Prescription Drugs

• If you enroll in a University medical plan,
  prescription drug coverage is automatically
  included.
• Medco administers the Prescription drug program
• For covered prescriptions, you pay
• Retail (up to a 30-day supply) 10 generic, 20
  brand
• Home Delivery (up to a 90-day supply) 15
  generic, 40 brand

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CIGNA UHC POS
Aetna POS
Columbia University Physicians participate in all
3 plans 900 in CIGNA, 900 in UHC, 1,100 in
Aetna
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Aetna Columbia Dental Plan
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Flexible Spending Accounts (FSAs)

• Flexible Spending Accounts (FSAs)
• FSAs help you pay for eligible healthcare and/or
  dependent care expenses with tax-free dollars.
• IRS rules apply
• Use it or lose it All eligible expenses must
  be incurred by December 31 of the current plan
  year, otherwise you forfeit any unused balance.
• Claims filing deadline March 31 of the following
  year.
• FSA Plan Administrator is Employee Benefit Plan
  Administration (EBPA)

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Flexible Spending Accounts (FSAs)

• Healthcare FSA
• Maximum annual contribution 5,000
• Examples of eligible expenses
• Medical and prescription deductibles, coinsurance
  and co-pays
• Dental services that are not covered by insurance
• Eyeglasses and contacts lenses
• Hearing aids
• Over-the-counter medications (pain relievers,
  cold and allergy medications, antihistamines and
  antacids)

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Flexible Spending Accounts (FSAs)

• Dependent Care FSA
• Maximum annual contribution 2,500
• Eligible dependents include
• Your children under age 13
• Parent, spouse or elderly relative if physically
  or mentally unable to care for themselves and
  dependent on you for support
• Examples of eligible expenses
• Care in your home or care-givers home
• Adult and Child daycare centers
• After-school programs or summer day camps
• IMPORTANT If your spouse has elected a Dependent
  Care FSA, your combined
• annual contributions may not
  exceed 5,000.

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Basic Long-Term Disability

• Basic Long-Term Disability (LTD)
• Coverage paid by the University
• Benefits payable after 6 months of Short-Term
  Disability
• For qualified LTD
• First 6 months 66 2/3 of your base salary, up
  to 2,500 per month
• Thereafter 60 of your base salary, up to 2,500
  per month
• Up to age 65
• Coverage is provided through CIGNA

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Optional Long-Term Disability

• Greater coverage for disability
• Additional benefits of this plan include
• Monthly maximum benefit 15,000
• University contributions to the Retirement Plan
  continue
• 3 cost-of-living increases after 12 months of
  payments
• You pay group discounted rate of 0.196 per 100
  of your monthly salary
• To determine your monthly cost
• Take your annual salary (Example 50,000)
• Divide by 100 (50,000/100 500)
• Divide by 12 (months) (500/12 41.67)
• Multiply by 0.196 (41.67 x 0.196 8.17)
• Your monthly cost (8.17)
• IMPORTANT If you dont elect Optional LTD
  coverage as a New Hire, election at a later date
  will require completion of Evidence of
  Insurability form.

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Life Insurance

• Basic Life Insurance Coverage 1x your annual
  base salary
• Maximum of 50,000
• Enrollment is automatic
• No cost to you
• Optional Life Insurance 1 to 6 X your annual
  base salary, 1 million maximum
• You pay group discounted rate
• Coverage in excess of 3X salary or 500,000
  requires completion of Medical History Statement
  (or Evidence of Insurability)
• IMPORTANT To increase or enroll in any level
  of Optional Life Insurance at a later date
  requires completion of Medical History
  Statement (or Evidence of Insurability)

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Life Insurance

• Dependent Life Insurance
• Benefit to you in case of death of spouse,
  same-sex domestic partner or dependent child(ren)
• You pay group discounted rate
• Coverage Options
• Spouse/same-sex Domestic Partner - 10,000,
  30,000 or 50,000
• Child - 10,000 for each dependent child
• IMPORTANT Medical History Statement (or
  Evidence of Insurability) required for
  dependent coverage of 30,000 and 50,000

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Transit/Parking Reimbursement Accounts

• Set aside tax-free dollars to cover commuting
  costs and parking
• Two accounts contribute to one or both
• Transit Account
• Parking Account
• EBPA is the administrator for these accounts
• Transit Account
• Contribute from 10 up to 115 per month,
  tax-free
• Metavante Credit Card to pay for transit
  expenses (train, bus, subway, ferry and van
  pool), or
• Submit claim for reimbursement from your account,
  no receipts required
• Direct deposit available
• Unused balance carried over into the next year

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Transit/Parking Reimbursement Accounts

• Parking Account
• Contribute from 10 up to 220 per month,
  tax-free
• Covers cost of parking near your work location or
  the location where you board mass transit.
• Submit a claim along with parking receipts
  (direct deposit available)
• Unused balance carried over to the next year
• IMPORTANT If you park in a University-owned
  parking lot, DO NOT
• sign up for the Transit/Parking Account.
  Money is automatically deducted from your
  paycheck and paid to the lot.

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University Retirement Plan

• Eligibility
• First day of the month following your date of
  hire if you are
• Officer grade 14 and above
• CUMC Officer grade 106 and above
• Officer of the Libraries, rank II and above
• Professor, associate professor and assistant
  professor (modified and unmodified)
• Research scientist and scholar (includes senior
  and associate)
• Senior staff associate

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University Retirement Plan

• Eligibility (contd)
• First day of the month following the date you
  complete two years of service if you are
• Officer grade 1013
• CUMC Officer grade 105 and below
• Lecturer (includes senior, assistant, and
  associate)
• Instructor
• Postdoctoral research scientist and scholar
• Staff associate

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University Retirement Plan

• Contributions
• Upon your eligibility, Columbia University
  contributes to your Retirement Plan account each
  pay period
• Contribution depends on
• your age
• salary
• years of eligible or tenured service
• You do not contribute

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University Retirement Plan

• Investments
• Choose to invest your retirement plan account
  with one of three carriers
• TIAA/CREF (10 funds available), or
• Vanguard (60 funds available), or
• Calvert (14 funds available)
• Select your investment carrier within 31 days of
  your eligibility date
• otherwise your funds will be defaulted into one
  of Vanguard Life Cycle Funds
• Choose from the various investment funds
  available with your carrier
• Change your investment carrier online at any time
• Change your investment (fund) election at any
  time directly with your selected carrier

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University Retirement Plan

• Distributions
• No access to these funds while you are employed
• Receive fund distribution when your employment
  ends, provided you meet the retirement age
  requirements

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Voluntary Retirement Savings Plan (VRSP)

• Highlights
• Eligibility Begin participation at any time
• Contributions
• Contribute a percentage of your pay (or a dollar
  amount),
• pre-tax, up to IRS limits each year (16,500 in
  2009)
• if you are or become age 50 during the year, you
  may contribute up to an additional 5,500 (2009)
• Vesting You are always 100 vested in your VRSP
  account

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Voluntary Retirement Savings Plan (VRSP)

• Highlights (contd)
• Investments
• Choose to invest your retirement plan account
  with one of three carriers
• TIAA/CREF (10 funds available), or
• Vanguard (60 funds available), or
• Calvert (14 funds available)
• Select your investment carrier within 31 days of
  your eligibility date
• otherwise your funds will be defaulted into one
  of Vanguard Life Cycle Funds
• Choose from the various investment funds
  available with your carrier
• Change your investment carrier online at any time
• Change your investment (fund) election at any
  time directly with your selected carrier
• Distributions
• While employed, there are IRS penalties for
  taking money before age 59 ½, or your termination
  of employment except for
• Hardship withdrawals (restrictions apply)
• Loans (allowed from TIAA/CREF Supplemental
  Retirement Annuity only)

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Work/Life Benefits

• Adoption Assistance Program
• Long-Term Care (LTC)
• Backup Care Program
• Tuition Benefits
• Vacation Holidays

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Adoption Assistance

• Up to 5,000 as reimbursement for eligible
  expenses related to the adoption of a child under
  the age of 18
• Eligible expenses include
• Agency fees
• Legal and court fees
• Fees for medical and hospital services (not
  covered by insurance)
• Traveling expenses (transportation, meals,
  lodging)
• Temporary foster care

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Long-Term Care (LTC)

• Financial security if
• unable to care for yourself
• need personal care for an extended period of time
  due to accident, illness or the effects of aging.
• John Hancock administers this benefit program
• Covered services include
• Nursing home
• Alternate care facility
• Home healthcare or adult day care
• Informal care (i.e., light housekeeping,
  shopping)
• Spouse, same-sex Domestic Partner, parents and
  parents-in-law may also apply for coverage
• Choice of different daily benefit maximums

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Long-Term Care (LTC)

• Must work full-time and be actively at work if
  applying
• All eligible applicants must provide proof of
  good health if application for coverage not
  received within 60 days of your eligibility date.
• Contact John Hancock for an application packet
• 1-800-964-3039
• www.columbia.jhancock.com

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Back-Up Care Program

• Backup Care
• Provides temporary options when regular care
  arrangements break down (school closing, regular
  caregiver is ill or on vacation, child or loved
  one is ill and requires care at home, etc.)
• Affordable Care
• Columbia University covers majority of cost
• 2 co-pay/hour per child for center-based care
• 4 co-pay/hour for home care
• 100 hours of care/employee per year (June 1,
  2008 June 30, 2009)
• To register visit www.workoptionsgroup.com or
  call 1-800-557-0847 (no cost to register)
• This information is available on
  www.hr.columbia.edu

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Tuition Programs

• Tuition Exemption
• Other programs include
• College Tuition Scholarship Program (CTS) pays a
  portion of tuition for your children (or the
  children of your spouse or same-sex domestic
  partner) who attend another college
• Primary Tuition Scholarship Program (PTS) pays a
  portion of tuition for your children (or the
  children of your spouse or same-sex domestic
  partner) who attend private school within the
  five boroughs

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Next Steps

• Read through Benefits in Brief
• Get a UNI (University Network ID)
• Your UNI gives you access to your benefits
  information
• If you do not have a UNI on your first day of
  work contact the person who hired you
• Create a password by going to http//uni.columbia.
  edu
• Go to www.hr.columbia.edu. Click on the Columbia
  University Benefits Enrollment System, log in
  with your UNI and password, and enroll in your
  healthcare, life insurance, long-term disability
  and retirement savings contributions

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Next Steps

• Next Steps (Contd)
• To direct the investment of your retirement
  contributions, complete the retirement investment
  directions forms in your New Hire Packet, and
  follow the instructions in the Retirement Packet
  (enclosed in the New Hire Packet)
• Questions? Please contact the Columbia University
  HR Benefits Service Center at 212-851-7000,
  Monday Friday 9 a.m. to 4 p.m.

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Important Deadlines

• 31 days from your first day of employment to
  enroll for University benefits
• Medical and Dental Insurance, Life Insurance,
  Optional Long Term Disability Insurance, Flexible
  Spending Accounts (FSAs), Transit and Parking
  Accounts
• Otherwise, you will have to wait until the next
  annual Open Enrollment period, unless you have a
  qualifying life status change
• Enroll in Long-Term Care insurance anytime

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Other Information

• Benefit Changes during the year
• Qualified Life Status Change
• Changes to health insurance elections during
  the year only for qualifying Life Status Changes
  (e.g. marriage, birth, divorce or change in
  employment status).
• You make the change online on the Columbia
  University Benefits Enrollment System
• Any change must be made within 31 days of the
  event

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Other Information (contd)

• Benefit Changes during the year
• Open Enrollment
• Annually October/November
• You will be able to make changes for the next
  calendar year.

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How To Contact Us

• HR Benefits Service Center Phone [phone]
• Hours Weekdays 900 am to 400 pm
• E-mail hrbenefits_at_columbia.edu
• Web www.hr.Columbia.edu/hr

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• Questions??