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The University of Mississippi Medical Center

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- 100% Well-newborn nursery care - 100% Well-child physician office visits - 100% Specified routine tests - 80% Childhood routine immunizations Adult Wellness ... – PowerPoint PPT presentation

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Title: The University of Mississippi Medical Center


1
The University of Mississippi Medical Center
  • FACULTY BENEFITS OVERVIEW

2
ENROLLMENT
  • Within 31 days of
  • EMPLOYMENT
  • Benefit payroll deductions are made a month in
    advance

3
ENROLLMENT
  • Pre-Tax Benefits (20 hours per week)
  • Flexible Spending Accounts
  • Medical Reimbursement Account
  • Dependent Care Reimbursement Account
  • State Employees Health Insurance Plan
  • Base Plan (High Deductible)
  • Select Coverage (Legacy/Horizon)

4
ENROLLMENT
  • Pre-Tax Benefits (20 hours per week)
  • Dental
  • Orthodontia
  • Vision
  • Hospital Indemnity Insurance
  • Helps pay both in and outpatient medical expenses
    based on a scheduled amount or percentage

5
ENROLLMENT
  • Pre-Tax Benefits (20 hours per week)
  • Cancer, Intensive Care, Dread Disease
  • Coverage for Cancer with additional options
    available for 30 Dread Diseases and Intensive
    Care
  • Accidental Death and Dismemberment
  • Up to 300,000 or 10 times annual base salary
    (whichever is less) due to an accident
  • Hospital confinement for accidents included

6
ENROLLMENT
  • Pre-Tax Benefits (20 hours per week)
  • State Group Term Life Insurance
  • Coverage equal to 2 times annual base (rounded to
    highest 1,000)
  • Minimum - 30,000
  • Maximum - 100,000

7
ENROLLMENT
  • Post-Tax Benefits (20 hours per week)
  • Supplemental Term Life Insurance
  • Coverage equal 1 to 6 times annual base (rounded
    to highest 1,000)
  • Maximum - 600,000
  • Available to Employees working 20 hours per week
  • Dependents coverage available (limited)

8
ENROLLMENT
  • Post-Tax Benefits (20 hours per week)
  • Burial Insurance
  • Coverage varies
  • Available for Employee, Spouse, Children and
    Grandchildren
  • Short Term Disability
  • Income replacement at 60 up to 3,000/ month
  • Commences the 31st day of disability for up to 12
    months

9
ENROLLMENT
  • Post-Tax Benefits (20 hours per week)
  • Long Term Disability
  • Available for Executive, Administrative,
    Managerial, Faculty, Supervisory, CRNA, NP, PA,
    and Pharmacists
  • Income replacement at 60 up to 6,000/ month
  • Commences the 91st day of total disability and
    continuing up to age 65
  • Superwrap option for Private Practice Income is
    available
  • United Sates Savings Bonds (All Employees)
  • Payroll deduction for purchase at one-half face
    value

10
ENROLLMENT
  • Tax-Deferred Benefits (20 hours per week)
  • Public Employees Retirement System (PERS)
  • Optional Retirement Plan (ORP)
  • Tax Sheltered Annuities (403b)
  • Deferred Compensation Plan (457)

11
  • Benefit Details

12
The Benefit of Pre-Tax (Example)
Per Check (Pre-Tax Benefits) Gross
Pay 1,000 Insurance 100 Total
900 Taxes (10) 90 Take Home 810
Qualified Insurance Deductions
  • Per check
  • Gross Pay 1,000
  • Taxes (10) 100
  • Total 900
  • Insurance 100
  • Take Home 800

13
Flexible Benefits Plan
  • Medical Reimbursement (5,000)
  • Full Amount is immediately available
  • Still incur previous year expenses through March
    15th
  • Grace Period for filing April 15th
  • Dependent Care Reimbursement (5,000)
  • Reimbursement are available once incurred
  • Grace Period for filing April 15th
  • New election form must be completed each year
  • Use-It-Or-Lose-It Must use the funds during
    the plan year

14
State Health Plan - Select
  • LEGACY EMPLOYEE
  • First eligible for States Health Plan prior to
    1/1/06
  • HORIZON EMPLOYEE
  • First eligible for States Health Plan on or
    after 1/1/06

15
State Health Plan - Select
  • 1,000 Employee Deductible or 2,000 Employee
    Dependent(s)
  • AFTER the calendar year deductible, a majority of
    your out-of-pocket (coinsurance) expense is 20
    In Network and 35-40 Out-of-Network
  • AFTER you have paid 2,500 (1,000 deductible
    20 out-of-pocket) then in-network coverage is
    paid at 100
  • 50 prescription drug calendar year deductible
    per covered insured.
  • PHARMACY CO-PAYMENT for 30-day supply (12
    generic/ 40 preferred / 65 non-preferred)
  • MAIL ORDER SERVICE program through WALGREENS
    provides a 90-day supply for a 60-day price

16
State Health Plan - Base
  • 1,800 Employee Deductible or 3,000 Employee
    Dependent(s)
  • AFTER the calendar year deductible, a majority of
    your out-of-pocket (coinsurance) expense is 20
    In Network and 35-40 Out-of-Network
  • AFTER you have paid 3,550 (1,200 deductible
    20 out-of-pocket) then in-network coverage is
    paid at 100
  • Must meet calendar year deductible before
    pharmacy co-payments apply.
  • PHARMACY CO-PAYMENT for 30-day supply (12
    generic/ 40 preferred / 65 non-preferred)
  • MAIL ORDER SERVICE program through WALGREENS
    provides a 90-day supply for a 60-day price

17
Well Child Care for both Select and Base Plans
  • Children from birth to 18 years of age
  • Coverage only provided through a NETWORK provider
    and deductible is waived!
  • - 100 Well-newborn nursery care
  • - 100 Well-child physician office visits
  • - 100 Specified routine tests
  • - 80 Childhood routine immunizations

18
Adult Wellness / Preventive Coveragefor both
Select and Base Plans
  • Benefits will be provided at 100 of the
    allowable charge for up to two (2) office visits
    and certain diagnostic tests (based on
    participants age and gender)
  • Services are not subject to calendar year
    deductibles
  • Participant must complete a HealthQuotient? (HQ)
    health risk assessment each year prior to
    receiving services
  • Covered wellness/preventive tests are available
    at
  • http//knowyourbenefits.dfa.state.ms.us
  • HealthQuotient? (HQ) is available at
  • http//webmdhealth.com/mississippi

19
Dental Insurance
  • Type A Preventative Care
  • Type B Basic Restorative
  • Type C Major Restorative
  • Type D OPTIONAL Orthodontic Rider
  • OPTIONAL Vision Rider
  • 50 calendar year deductible Type B C combined
  • 1,200 calendar year maximum Type A B C
  • 150 maximum in any 24 consecutive month period
    Vision Rider

20
Retirement and Savings
  • PERS - Public Employees Retirement System
  • 7.25 Employee Contribution
  • 12.00 Employer Contribution
  • 4 or 8 year vesting
  • Retire at age 60 or any age with 25 years of
    service
  • 4 year vesting IF the employee is a Legacy
    employee AND still had money in the system upon
    returning

21
Retirement and Savings
  • ORP Optional Retirement Plan
  • 7.25 Employee Contribution
  • 9.40 Employer Contribution
  • Immediate vesting
  • Retire at any age but distributions before age
    59½ will result in government penalties
  • Approved Providers
  • VALIC
  • ING
  • TIAA-CREF

22
Retirement and Savings
  • 457 Deferred Compensation (2010 Limits)
  • 16,500 Annual Deferral
  • 5,500 - 50 Catch-up provision
  • 16,500 Retirement Catch-up provision
  • IF employee is within 3 years of retirement AND
    has not contributed at the maximum limit in
    previous years (3 year limit)
  • Employee cannot use both Catch-up provisions
    during the same year

23
Retirement and Savings
  • 403(b) Tax Sheltered Annuity (2010 Limits)
  • 16,500 Annual Deferral
  • 5,500 - 50 Catch-up provision
  • 3,000 15 Years of Service Catch-up provision
  • IF employee is within 3 years of retirement AND
    has not contributed at the maximum limit in
    previous years (3 year limit)
  • Both Catch-up provisions CAN be utilized in
    the same year

24
Personal Leave Time
  • Employees working 20 hours per week
  • May use after the 90th day of employment
  • 12 to 18 hours accrued per month
  • Based on years of service
  • Time accrual increases with years of service

25
Medical Leave Time
  • Employees working 20 hours per week
  • May use after the 90th day of employment
  • Exception Bereavement Leave is immediately
    available
  • 5 to 8 hours accrued per month
  • Based on years of service
  • Time accrual increases with years of service

26
Websites of Interest
  • Employee Self Service
  • http//my.umc.edu
  • UMC Intranet http//www.umc.edu/intranet/index.php
  • HR Website
  • http//hr.umc.edu/
  • UMC Yellowpages http//yellowpages.umc.edu/intrane
    t/index.html

27
REMINDER - ENROLLMENT
  • Within 31 days of
  • EMPLOYMENT
  • Benefit payroll deductions are made a month in
    advance

28
Benefits Division Team
  • Yolanda Townsend
  • Insurance/COBRA
  • 601-984-1138
  • Tracy Chambliss
  • Insurance/Cafeteria Plan
  • 601-984-1128
  • Angela Jones
  • Manager/Retirement
  • 601-984-1137
  • Xue Jiang
  • Payroll Deductions
  • 601-815-5182
  • Scott Stanford
  • Director, Comp and Benefits
  • Office 601-815-5183
  • Mobile 769-233-3669
  • Jackie Harris
  • Verification of Employment and Service Pins
  • 601-984-1133
  • Mamie Henderson
  • ID Badges/Exit Interview
  • 601-984-1949
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