BENEFITS

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BENEFITS

• Phone [phone]
• Address 10th floor UCT
• Web http//hr.uth.tmc.edu/Benefits/benefits.html
  
• Fax [phone]

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WE ARE HERE FOR YOU!

• Medical, Dental and Vision Insurance
• Life, Accidental Death Dismemberment, Short
  Term Disability, Long Term Disability Insurance
  and Long Term Care
• Retirement Benefits (TRS, 403B and 457B)
  
  

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EMPLOYEE HEALTH INSURANCE

• Newly hired benefits eligible employees are
  eligible for group medical insurance the first
  day of the calendar month following the
  completion of 30 days of active employment.
• You are automatically enrolled in the UT Select
  plan on that date.
• You have 31 days to elect your medical insurance.
• No cost to the employee (employee only)

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HEALTH INSURANCE FOR THE FAMILY BLUE CROSS
BLUE SHIELD

• Health Insurance for your spouse and/or children
  is available at an out-of-pocket premium.
• The out-of-pocket premium will be deducted from
  the employee paycheck semi-monthly, on a pre-tax
  basis.

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Medical Plan Summary - In Network
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Additional Medical Benefits - Wellness
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PRESCRIPTION DRUG SERVICE

• NO OUT-OF-POCKET premium to the employee.
• You are automatically enrolled in the
  prescription drug plan with your medical
  insurance.
• Mail order prescriptions are available.

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PRESCRIPTIONS Continued . . .

• Medco Health Solutions will be your prescription
  drug program.

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Prescription Cost?(50 annual deductible for
both Plans)

• Retail (Max 30 Day Supply)
• 10 generic drugs
• 30 name brand
• 45 for non -preferred
• Mail Order (Max 90 Day Supply)
• 20 generic drugs
• 75 name brand
• 112.50 non -preferred
• Dental prescriptions are included

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Employee and Family Dental

• Dental insurance is available to you and your
  family members for an out-of-pocket premium. The
  premium will be deducted pre-tax, semi-monthly
  from the employee paycheck.
• You have 31 days to elect this insurance.

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Dental Choices!

• Delta Dental Standard
• PPO
• Assurant Dental DMO

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Delta Dental Standard

• 1250 maximum lifetime benefit for orthodontics
• 1250 maximum annual benefit
• 25 annual deductible
• Self referral no primary care dentist needed.

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Delta Dental Benefits Summary
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Assurant Dental DMO

• Assurant Dental is a DMO
• You must select a primary care dentist
• Variable copayments for each covered service
• No claim forms
• No deductible
• No balance billing for covered services
• No maximum annual benefit
• No maximum lifetime benefit for orthodontics
• No exclusions for pre-existing conditions
• Work in progress not covered

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Assurant Dental Benefits Summary
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VISION

• UT offers a vision plan that is administered by
  Superior Vision.
• The premium will be deducted from the employee
  paycheck semi-monthly on a pre-tax basis.

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Superior Vision Benefits Summary
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Monthly Premiums

• Employee
  Employee Employee
  Employee
• Only
  Spouse Children
  Family
• UT Select 0.00
  158.86 166.15 312.85
• Delta Dental 26.26 53.65
  59.14 84.09
• Assurant Dental 10.05 19.10
  21.11 30.15
• Superior Vision 7.36 11. 48
  11. 746 18.90

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EMPLOYEE LIFE INSURANCE

• Each Employee enrolled in medical insurance
  receives 10,000 basic term life effective the
  same date the medical insurance becomes
  effective.
• There is no cost to you!
• You have 31 days to select additional insurance.

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Fort Dearborn Life Insurance
Company
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Accidental Death Dismemberment Insurance

• Each Employee enrolled in medical insurance
  receives 10,000 basic accidental death
  dismemberment effective the same date the medical
  insurance becomes effective.
• There is no cost to you!
• You have 31 days to elect additional ADD.

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ACCIDENT INSURANCE CONTINUED . . .

• You have the option to upgrade your personal
  accident insurance at a small out-of-paycheck
  cost to the employee (.16 for every additional
  10K). The premium will be paid with pre-tax
  dollars.
• You cannot exceed 10X your base salary.

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ADD INSURANCE ON YOUR SPOUSE

• You have the option to receive accident insurance
  on your spouse the premium will be taken out of
  your paycheck with pre-tax dollars.
• Coverage cannot exceed 50 of the amount of
  coverage elected for yourself. If you want to
  maximize your spouse, you must maximize your own
  ADD.
• You may elect 10K on your dependant children.

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Short Term Disability The Hartford

• Welfare benefit plan providing income replacement
  if employee becomes disabled
• 30 elimination period
• Employee
• All Full-timeemployees actively at work for the
  University of Texas who are or are expected to be
  employed for a defined period of at least 4-1/2
  months or appointed for at least 50 of a
  standard full-time appointment.

• Type of Plan
• Who pays the cost?
• Who is eligible?

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Short Term Disability Summary cont.

• When coverage begins
• Coverage

• If the employee enrolls more than 31 days after
  becoming eligible, the coverage will take effect
  after The Hartford approves Evidence of
  Insurability
• 60 of Weekly Earnings to a maximum benefit of
  693 per week subject to reduction by deductible
  sources of income or Disability Earnings.
• Payable for 22 weeks following the elimination
  period or until benefits become payable under the
  Long Term Disability plan, whichever occurs
  first.
• For Disability caused by a pre-existing condition
  benefits are payable for up to 4 weeks following
  the elimination period.
• Work Incentive Benefit

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LONG TERM DISABILITYThe Hartford

• LTD is available to the employee at a minimal
  out-of-paycheck premium, paid with after-tax
  dollars.
• If you do not elect this insurance within the
  first 31 days of employment, you must go through
  EOI the following annual enrollment to obtain
  coverage.

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DISABILITY CONTINUED . . .

• If a person becomes disabled during their first
  year of coverage due to a pre-existing condition,
  no benefits are payable.
• Disabilities are not covered if caused by war,
  attempted suicide, riot, felony, or loss of
  professional license.

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WHEN DO I QUALIFY FOR DISABILITY ?

• First you must satisfy a 90 day elimination
  period.
• Second (in order to continue in a full paid
  status) you must exhaust all your sick leave and
  vacation time. This can be exhausted during the
  90 day period.

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HOW WILL I BE PAID?

• You will receive 60 of your former base income.
• There will be no taxes taken out of the money you
  receive.
• This 60 will be reduced as you receive money
  from your other disability sources, (SSI) etc.
  the entire amount received will always equal at
  least 60.

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WAIT!! THERES MORE!!

• In the case of a Catastrophic accident, you
  will receive an additional 10 of your base
  salary.
• Catastrophic is defined as not being able to
  perform two or more Activities of Daily Living
  (bathing, dressing, etc.).

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Group Long-Term Care Insurance

• This insurance is designed specifically to cover
  the costs associated with extended long-term
  care. Long term care provides a variety of
  support services for those who need care over an
  extended period of time these services may be
  community based or in a nursing home facility.
• Employees, spouses, parents (in-laws), adult
  children, grandparents and all retirees are all
  eligible.

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UT FLEX ACCOUNT

• UT offers an account that allows you to use
  tax-free dollars to pay for certain expenses in
  your life for medical and dependent care account
  (child or elderly care) .
• You have 31 days to elect UT Flex.

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UT FLEX continued

• The minimum that you contribute in each of these
  spending accounts is 15 per month or maximum of
  416 per month.
• IF YOU DONT USE THE MONEY SET ASIDE THEN YOU
  WILL LOSE IT!
• You must re-enroll every year during annual
  enrollment.

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UTFLEX continued.. New Flex Convenience Card

• Works like a debit card
• 9 annual fee
• Certain over-the-counter items eligible
• You have the option to use the FLEX Convenience
  card for qualified medical expenses

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TRS

• Teacher Retirement System of Texas.
• Membership is MANDATORY and begins on the first
  day of employment.
• The contribution will be withdrawn from your
  paycheck on a pre-tax basis.
• Your contribution rate is 6.4 of your base
  salary.
• TRS also has life and disability benefits.

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TRS continued . . .

• After five (cumulative) years of creditable
  membership service, you are considered vested
  with TRS.
• Under TRS vested does not mean that you may
  receive UTs cash contribution (6 of earnings),
  it means upon reaching retirement age 55, you
  are eligible to receive a reduced monthly annuity
  from TRS.

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TRS continued.

• To be eligible for retirement benefits from the
  UT System you must have 10 years of service and
  be age 65.

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TRS DEATH AND SURVIVOR BENEFITS

• Coverage begins on the 1st day of participation
  in TRS.
• Your beneficiaries will receive a lump sum
  payment equal to twice the members annual
  compensation, not to exceed 80,000.
  

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TSA (403B)

• UT offers their employees the opportunity to
  participate in a Tax Sheltered Annuity Program
  (403 B).
• Your paycheck will be deducted every pay period.
• You may participate in TSA at any time.
• Benefits will provide you with a list of carriers.

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(403B) Continued...

• There is no 401K available through UT
  however, the 403B is a good alternative if you
  would like to put money aside for your
  retirement. You may begin making withdrawals at
  age 59 1/2 you must start withdrawing by 70
  1/2.
• You will pay income tax on the money at the time
  of withdrawal.

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(403B) Continued...

• The minimum amount that you may have deducted
  from your paycheck for the 403B varies, depending
  on which company you choose to invest your money.
  
• The maximum allowable amounts are based on IRS
  regulations for CY 2007and 2008- less than age
  50, 15,500/year age 50 20,500/year

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457 Deferred Comp Plan

• In addition to the 403(b) plan, you can also
  contribute a maximum of 15,500 per year if you
  are under the age of 50,or 20,500 if you are
  over the age of 50.
• You can contribute to both plans at the same time.

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Questions?