WHATS NEW IN INSURANCE

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WHATS NEW IN INSURANCE?

• Effective January 1, 2006

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MEDICAL INSURANCE
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MEDICAL INSURANCEThe Rates will remain the same!

• The College will continue paying the full cost of
  the premiums.
• 53.44/96.16/144.30
• 95.26/171.40/257.20

• Bronze Plan
• Silver Plan
• Gold Plan

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DENTAL INSURANCE
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DENTAL INSURANCE

• We went out for bid to see if we could get a
  better plan for the same or a slightly higher
  rate.
• 2 carriers bid on the insurance, Humana Health
  Care, and United Concordia (our current carrier).
• We will be remaining with our current carrier.

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Dental Insurance
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What Does The New Coverage Include?
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2006 Dental/Vision Combined Premium
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FLEXIBLE SPENDINGACCOUNT
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FLEXIBLE SPENDING ACCOUNT(Section 125 Plan)

• Way to tax shelter known medical and/or child
  care expenses
• Use it to cover co-pays, deductibles, over the
  counter drugs
• Use it to cover glasses, contacts, or orthodontia
• Review current medical expenses to see what you
  may want to tax shelter.

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HOW DO I GET MY MONEY?

• You can pick up a Ceridian Reimbursement form in
  HR.
• You can download from the HR website under forms.
• Fax or mail the form to Ceridian along with the
  bills.
• Ceridian cuts checks 2x/month the check will be
  mailed to your home.

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FLEXIBLE SPENDING ACCOUNTNew Feature This Year

• Use it or lose it clause meant that if you did
  not use all your money by December 31 it was
  lost.
• Now you can carry any unused amount over into the
  new year, but it must be used by March 15th.

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OPEN ENROLLMENT
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OPEN ENROLLMENT

• November 15-December 9
• If you are not currently enrolled in either the
  medical or the dental insurance this is the time
  to do so.
• You may add or drop dependents on your medical or
  dental plan, or move from one medical plan to
  another.
• Update you FSA deduction amount, or to sign up
  for it

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HOW DO I MAKE CHANGES?

• Contact HR for a medical or dental enrollment
  form.
• To enroll in the FSA log on to the Ceridian web
  site https//simpleenroll.ceridian.com
• BEFORE logging in check out the Instructions,
  log-ins and other information about the FSA on
  the HR web site

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ADDITIONS TO THE BENEFITS PROGRAM
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NEW BENEFITVoluntary Life Insurance

• Additional life insurance over and above what the
  College provides you at no cost.
• This plan is 100 employee paid.
• Can insure yourself, spouse, and/or children
• Premiums paid post tax through payroll
  deductions.
• Portable-can take it with you should you quit or
  retire.

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Voluntary Life Insurance

• Can buy up to 500,000 of insurance for self
  and/or spouse, 10,000 for children, in 10,000
  increments
• Guarantee issue amount 80,000 for self 30,000
  for spouse with no medical questionnaire.
• More than guarantee issue approval based on your
  health you may be denied.
• Complete the form and return it to HR. We will
  send it in. When you are approved, we will begin
  the payroll deductions.

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Discounted Other Services

• Sams Club-basic membership is 35. Can enroll
  at www.samsclub.com or at the store.
• Cameron Wellness Center-corporate discount on
  initiation and monthly dues. See HR website for
  more info.
• Liberty Mutual-discounts on auto (20) and home
  (10) insurance
• Prudential Real Estate-discounts on commissions
  when you buy or sell a house.

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QUESTIONS? COMMENTS?