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5/09Old Dominion University Department of Human Resources 1 Old Dominion University The Department of Human Resources Presents BENEFITS 101 7/04.

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Presentation on theme: "5/09Old Dominion University Department of Human Resources 1 Old Dominion University The Department of Human Resources Presents BENEFITS 101 7/04."— Presentation transcript:

1 5/09Old Dominion University Department of Human Resources 1 Old Dominion University The Department of Human Resources Presents BENEFITS 101 7/04

2 5/09Old Dominion University Department of Human Resources 2 What is the purpose of Benefits 101? Provide information on what benefits are available. Provide information on what benefits are available. Explain where to find your benefit information Explain where to find your benefit information Provide information on what to do if there is a problem; who to contact. Provide information on what to do if there is a problem; who to contact.

3 5/09Old Dominion University Department of Human Resources 3 Program Content Program Content What benefits are available? What benefits are available? What benefits are provided by What benefits are provided by Old Dominion University to full time employees? Old Dominion University to full time employees? How to find out what you have? How to find out what you have? How can you make changes? How can you make changes?

4 5/09Old Dominion University Department of Human Resources 4 What Benefits are Available? What Benefits are Available? Retirement Retirement Life Insurance Life Insurance COVA Health Care COVA Health Care Tax Sheltered Annuities Tax Sheltered Annuities Deferred Compensation Deferred Compensation Employer Cash Match Employer Cash Match Flexible Reimbursement Accounts Flexible Reimbursement Accounts

5 5/09Old Dominion University Department of Human Resources 5 What Benefits are Available (continued) What Benefits are Available (continued) Long Term Disability Long Term Disability Accidental Death/Dismemberment Accidental Death/Dismemberment Legal Plan Legal Plan Optional Life Insurance Optional Life Insurance Long Term Care Insurance Long Term Care Insurance

6 5/09Old Dominion University Department of Human Resources 6 What Benefits are Available? (continued) What Benefits are Available? (continued) Workers Compensation Workers Compensation Return to Work Program Return to Work Program Holidays Holidays Employee Assistance Program Employee Assistance Program University I.D. Card University I.D. Card Tuition Assistance Tuition Assistance Virginia Sickness and Disability Virginia Sickness and Disability Program (VSDP) Program (VSDP)

7 5/09Old Dominion University Department of Human Resources 7 What Benefits are Provided as a Condition of Employment? What Benefits are Provided as a Condition of Employment? VRS Basic Life Insurance VRS Basic Life Insurance Retirement Plan Membership Retirement Plan Membership

8 5/09Old Dominion University Department of Human Resources 8 Retirement Plans Retirement Plans Classified Employees: Classified Employees: Virginia Retirement System (VRS) Virginia Retirement System (VRS) Faculty/Faculty Administrators: Faculty/Faculty Administrators: Virginia Retirement System (VRS) - OR - - OR - Optional Retirement Plan (ORP)

9 5/09Old Dominion University Department of Human Resources 9 V irginia Retirement System (VRS) V irginia Retirement System (VRS) defined benefit plan with a formula to defined benefit plan with a formula to calculate retirement benefits based on age, calculate retirement benefits based on age, years of service, salary years of service, salary VRS assumes all investment risk VRS assumes all investment risk vested after five years of service vested after five years of service Member Benefit Profile sent each Fall with Member Benefit Profile sent each Fall with service, contributions, interest, life insurance, service, contributions, interest, life insurance, projected retirement benefits projected retirement benefits Employees hired after 1/1/99 automatically Employees hired after 1/1/99 automatically enrolled in the Virginia Sickness and Disability enrolled in the Virginia Sickness and Disability Program (VSDP) (faculty may elect or decline) Program (VSDP) (faculty may elect or decline)

10 5/09Old Dominion University Department of Human Resources 10 Optional Retirement Plans Optional Retirement Plans plans are portable (take with you if you plans are portable (take with you if you leave ODU employment leave ODU employment vested immediately vested immediately employee determines how contribution is invested and assumes all risks for investment options employee determines how contribution is invested and assumes all risks for investment options investment gains and losses affect retirement benefit investment gains and losses affect retirement benefit defined contribution plan defined contribution plan irrevocable election irrevocable election

11 5/09Old Dominion University Department of Human Resources 11 Life Insurance Life Insurance Coverage is provided by ODU for Coverage is provided by ODU for full time and part-time salaried employees (enrollment required) full time and part-time salaried employees (enrollment required) Provider is Minnesota Life Provider is Minnesota Life No medical examination required No medical examination required Natural and Accidental death benefit Natural and Accidental death benefit Accidental death and dismemberment Accidental death and dismemberment benefit benefit

12 5/09Old Dominion University Department of Human Resources 12 Life Insurance (continued) Life Insurance (continued) Accelerated death benefit for terminal medical condition Accelerated death benefit for terminal medical condition Safety belt benefit Safety belt benefit Repatriation benefit Repatriation benefit Taxes on basic group life (if coverage exceeds $50,000, the excess of $50,000 may be considered imputed income and subject to taxes ) Taxes on basic group life (if coverage exceeds $50,000, the excess of $50,000 may be considered imputed income and subject to taxes )

13 5/09Old Dominion University Department of Human Resources 13 Life Insurance Coverage Life Insurance Coverage Natural Death: your annual salary rounded to the next highest thousand and doubled Natural Death: your annual salary rounded to the next highest thousand and doubled ($34,100 X 2 = $35,000 X 2 = $70,000) ($34,100 X 2 = $35,000 X 2 = $70,000) Accidental Death: four times your annual salary Accidental Death: four times your annual salary ($34,100 X 4 = $35,000 X 4 = $140,000) ($34,100 X 4 = $35,000 X 4 = $140,000)

14 5/09Old Dominion University Department of Human Resources 14 Beneficiaries Beneficiaries Paid according to the order of precedence if no beneficiary is designated: Paid according to the order of precedence if no beneficiary is designated: Spouse Spouse Child or children Child or children Parents Parents If there are none of the above, executor or administrator of the estate or other designee. Reminder: Keep your beneficiary listing current. listing current.

15 5/09Old Dominion University Department of Human Resources 15 What Benefits do I Have? What Benefits do I Have? I have no idea what benefits I have. How do I find out? Where is my benefits information available? I have no idea what benefits I have. How do I find out? Where is my benefits information available? Listed on your LEO On-line Pay Stub Listed on your LEO On-line Pay Stub Department of Human Resources Department of Human Resources

16 5/09Old Dominion University Department of Human Resources 16 When Can I Make Changes to my Benefits? When Can I Make Changes to my Benefits? within 31 days of hire within 31 days of hire during Open Enrollment periods during Open Enrollment periods some types of exceptions allowed some types of exceptions allowed

17 5/09Old Dominion University Department of Human Resources 17 Lets Talk about Health Care Lets Talk about Health Care Most ODU employees are enrolled in COVA Connect Most ODU employees are enrolled in COVA Connect An Optima Health Plan An Optima Health Plan Available options: Out-of-Network, Expanded Dental, Vision/Hearing Available options: Out-of-Network, Expanded Dental, Vision/Hearing The employer pays a large portion of the health care premium The employer pays a large portion of the health care premium Benefits are on a fiscal year basis (July – June) Benefits are on a fiscal year basis (July – June) Three types of membership – Employee, Employee Plus One and Family coverage Three types of membership – Employee, Employee Plus One and Family coverage

18 5/09Old Dominion University Department of Human Resources 18 Health care premiums are deducted Health care premiums are deducted from your paycheck before from your paycheck before taxes are calculated. taxes are calculated. Less taxes paid giving you more Less taxes paid giving you more spendable income. spendable income.

19 5/09Old Dominion University Department of Human Resources 19 When Can I Make Health Care Changes? When Can I Make Health Care Changes? During Open Enrollment (usually held April – May) Plan changes can be made at this time. Effective on July 1 st. During Open Enrollment (usually held April – May) Plan changes can be made at this time. Effective on July 1 st. Qualifying mid-year event examples Qualifying mid-year event examples Change in employment of spouse Change in employment of spouse Birth or adoption of child Birth or adoption of child Marriage or Divorce Marriage or Divorce Child no longer a dependent Child no longer a dependent

20 5/09Old Dominion University Department of Human Resources 20 How Do I Make Changes to my Health Care Plan? How Do I Make Changes to my Health Care Plan? Visit: Visit: At the Health Benefits Tab, click on: At the Health Benefits Tab, click on: EmployeeDirect; EmployeeDirect; Log on with your personal Health I.D. and passcode Log on with your personal Health I.D. and passcode (to get a passcode, if you do not have one, (to get a passcode, if you do not have one, follow the EmployeeDirect instructions to have follow the EmployeeDirect instructions to have one mailed to you). one mailed to you). Passcode is your confidential electronic Passcode is your confidential electronic signature signature

21 5/09Old Dominion University Department of Human Resources 21 How Do I Make Changes to my Health Care Plan? (cont.) Submit an Enrollment/Waiver Form (new employee enrollment, open enrollment, or qualifying mid-year event change) Submit an Enrollment/Waiver Form (new employee enrollment, open enrollment, or qualifying mid-year event change) Forms are available at: Forms are available at: Department of Human ResourcesDepartment of Human Resources

22 5/09Old Dominion University Department of Human Resources 22 When will my Health Care Changes be Effective? When will my Health Care Changes be Effective? Effective the first of the month FOLLOWING submission of your Effective the first of the month FOLLOWING submission of your request (except for birth, adoption request (except for birth, adoption or placement for adoption which are effective the first of the month in which the event occurs) or placement for adoption which are effective the first of the month in which the event occurs)

23 5/09Old Dominion University Department of Human Resources 23 Who Can Help me With my Health Care Problem? Who Can Help me With my Health Care Problem? Read your health care Member Handbook and understand your coverage Read your health care Member Handbook and understand your coverage Review your Explanation of Benefits which is generated by the insurance company, after your health care visit Review your Explanation of Benefits which is generated by the insurance company, after your health care visit If you need additional information, call Optima at or If you need additional information, call Optima at or

24 5/09Old Dominion University Department of Human Resources 24 Review your Health Care Explanation of Benefits! Review your Health Care Explanation of Benefits! If you are concerned about the explanation, call Optima ( ) or Anthem ( ) and ask for an explanation. If you are concerned about the explanation, call Optima ( ) or Anthem ( ) and ask for an explanation. AND/OR AND/OR Discuss the billing with your Medical provider. Discuss the billing with your Medical provider. A sk questions! A sk questions!

25 5/09Old Dominion University Department of Human Resources 25 I DO NOT AGREE WITH THE BILL! I DO NOT AGREE WITH THE BILL! Your health care is your responsibility. Review information when it is provided to you. Your health care is your responsibility. Review information when it is provided to you. Use your Health Care Member Handbook as a point of reference. Use your Health Care Member Handbook as a point of reference. Call Optima or Anthem and ask how the bill was coded by the provider. Call Optima or Anthem and ask how the bill was coded by the provider.

26 5/09Old Dominion University Department of Human Resources 26 How Can I File a Complaint or an Appeal? How Can I File a Complaint or an Appeal? Follow the Complaint/Appeal Process described in the COVA Member Handbook. Follow the Complaint/Appeal Process described in the COVA Member Handbook. When talking with a health care representative, keep a record of the name of the person and the date. When talking with a health care representative, keep a record of the name of the person and the date. ALWAYS KEEP A COPY OF ANY INFORMATION THAT YOU PROVIDE. ALWAYS KEEP A COPY OF ANY INFORMATION THAT YOU PROVIDE.

27 5/09Old Dominion University Department of Human Resources 27 Why Do I Have to File the Complaint or the Appeal? Why Do I Have to File the Complaint or the Appeal? 2003 HIPAA Privacy regulations set forth by the U.S. Department of Health and Human Services, Office for Civil Rights, limit who can inquire about your protected health information HIPAA Privacy regulations set forth by the U.S. Department of Health and Human Services, Office for Civil Rights, limit who can inquire about your protected health information. Only you or an individual involved in your care, or payment of your care, can ask directly about your protected health information. Only you or an individual involved in your care, or payment of your care, can ask directly about your protected health information.

28 5/09Old Dominion University Department of Human Resources 28 ADDITIONAL OPTIONAL BENEFITS OPTIONAL BENEFITS (This is a partial list; additional info is available on the Department of Human Resources website) (This is a partial list; additional info is available on the Department of Human Resources website)

29 5/09Old Dominion University Department of Human Resources 29 Flexible Reimbursement Accounts MEDICAL: you set aside pre-tax dollars for predictable medical, dental, vision care, or other eligible expenses not covered by your health care plan MEDICAL: you set aside pre-tax dollars for predictable medical, dental, vision care, or other eligible expenses not covered by your health care plan DEPENDENT CARE: you set aside pre-tax dollars for predictable eligible dependent care expenses, such as childcare. DEPENDENT CARE: you set aside pre-tax dollars for predictable eligible dependent care expenses, such as childcare. OPEN ENROLLMENT: Held in the Spring with annual Health Open Enrollment. YOU MUST RE-ENROLL EVERY YEAR! RE-ENROLLMENT S NOT AUTOMATIC! OPEN ENROLLMENT: Held in the Spring with annual Health Open Enrollment. YOU MUST RE-ENROLL EVERY YEAR! RE-ENROLLMENT S NOT AUTOMATIC! Flexible Reimbursement Accts have $3.67 monthly administration fee. Flexible Reimbursement Accts have $3.67 monthly administration fee.

30 5/09Old Dominion University Department of Human Resources 30 Flexible Reimbursement Accounts (continued) Medical Reimbursement Account Medical Reimbursement Account $10 minimum per pay period $10 minimum per pay period $5,000 maximum allowable contribution $5,000 maximum allowable contribution payroll deducted pre-tax payroll deducted pre-tax use it or lose it account; calculate only use it or lose it account; calculate only predictable expenses; there is no refund predictable expenses; there is no refund of monies not used of monies not used

31 5/09Old Dominion University Department of Human Resources 31 Flexible Reimbursement Accounts (continued) Dependent Care Accounts Dependent Care Accounts Annual Maximum $5,000 Annual Maximum $5,000 Minimum contribution (deduction) per pay period is $10 Minimum contribution (deduction) per pay period is $10 Covers dependent care expenses Covers dependent care expenses Use it or lose it account, for predictable expenses Use it or lose it account, for predictable expenses

32 5/09Old Dominion University Department of Human Resources 32 How do I Request Reimbursement? Mail/Fax a completed Flexible Reimbursement Account Claim Form to: Mail/Fax a completed Flexible Reimbursement Account Claim Form to: Contract Administrator Fringe Benefits Management Co. P. O. Box 1800 Tallahassee, FL OR- -OR (fax number)

33 5/09Old Dominion University Department of Human Resources 33 Optional Life Insurance Optional Life Insurance Offered by the Virginia Retirement System Offered by the Virginia Retirement System May include coverage for spouse and dependent children May include coverage for spouse and dependent children Coverage available is 1X to 4X salary for employee and reduced amounts for spouse and dependents Coverage available is 1X to 4X salary for employee and reduced amounts for spouse and dependents Evidence of good health may be required Evidence of good health may be required Underwriter is Minnesota Life Underwriter is Minnesota Life ( ) ( )

34 5/09Old Dominion University Department of Human Resources 34 Long Term Care Insurance Long Term Care Insurance Available to full-time employees, their spouses, parents, and parents-in-law Available to full-time employees, their spouses, parents, and parents-in-law Medical Questionnaire may need to be completed Medical Questionnaire may need to be completed Provider: Aetna Life Insurance Company Provider: Aetna Life Insurance Company ( ) ( ) VSDP participants have an employer paid $96 daily/2 year benefit amount VSDP participants have an employer paid $96 daily/2 year benefit amount

35 5/09Old Dominion University Department of Human Resources 35 CIGNA Long Term Disability CIGNA Long Term Disability Available for full time employees earning >$15,000 Available for full time employees earning >$15,000 Provides up to 60% of income after 180 days of disability Provides up to 60% of income after 180 days of disability Employee pays full premium Employee pays full premium Disability income is non-taxable Disability income is non-taxable Provider: Cigna Group Insurance (Life Insurance Company of North America) Provider: Cigna Group Insurance (Life Insurance Company of North America) Open Enrollment October/November in conjunction with the Benefits Fair Open Enrollment October/November in conjunction with the Benefits Fair

36 5/09Old Dominion University Department of Human Resources 36 Pre-Paid Legal Assistance Plan Pre-Paid Legal Assistance Plan Covers a wide variety of legal services: purchasing/selling a home, preparing wills, traffic violations, divorce, and many other services Covers a wide variety of legal services: purchasing/selling a home, preparing wills, traffic violations, divorce, and many other services Provider: Legal Resources of Virginia Provider: Legal Resources of Virginia ( ) ( ) Open Enrollment in October/November in conjunction with the Benefits Fair Open Enrollment in October/November in conjunction with the Benefits Fair

37 5/09Old Dominion University Department of Human Resources 37 What is a TSA (403b) or DCP (457)? What is a TSA (403b) or DCP (457)? Voluntary tax deferred supplemental retirement savings/investment plans (tax sheltered annuities or Deferred Compensation Plan) Voluntary tax deferred supplemental retirement savings/investment plans (tax sheltered annuities or Deferred Compensation Plan) Provider TSA companies are: Provider TSA companies are: American Express, Equitable, Fidelity Investments, Lincoln, MetLife, TIAA/CREF $ VALIC American Express, Equitable, Fidelity Investments, Lincoln, MetLife, TIAA/CREF $ VALIC Provider DCP company is: ING Provider DCP company is: ING Employer Cash Match may be an option. Employer Cash Match may be an option.

38 5/09Old Dominion University Department of Human Resources 38 What are the 2004 TSA(403b) and DCP(457) Annual Limits? What are the 2004 TSA(403b) and DCP(457) Annual Limits? UNDER AGE 50: $16,500 UNDER AGE 50: $16,500 (can contribute to both a 403b and a 457) AGE 50 AND ABOVE: $22,000 AGE 50 AND ABOVE: $22,000 (can contribute to both a 403b and a 457) (can contribute to both a 403b and a 457)

39 5/09Old Dominion University Department of Human Resources 39 What is Cash Match? What is Cash Match? ODU makes a contribution to your ODU makes a contribution to your TSA(403b) or DCP(457) - up to a $40 TSA(403b) or DCP(457) - up to a $40 maximum contribution per month maximum contribution per month Employee contributing at least $40 per pay period receive the maximum $20 per pay period match Employee contributing at least $40 per pay period receive the maximum $20 per pay period match

40 5/09Old Dominion University Department of Human Resources 40 You Can Enroll in a Tax Sheltered Annuity (403b), Deferred Compensation (457) and Cash Match at any time during the year.

41 5/09Old Dominion University Department of Human Resources 41 How do I Get Information on Supplemental Retirement Plans? How do I Get Information on Supplemental Retirement Plans? TSA information is available on the HR web page: TSA information is available on the HR web page: DCP information is available on the VRS web page: or DCP information is available on the VRS web page: or www.varetire.org Call HR to request a list of each company and the agent of records telephone number Call HR to request a list of each company and the agent of records telephone number

42 5/09Old Dominion University Department of Human Resources 42 VIRGINIA SICKNESS AND DISABILITY PROGRAM (VSDP) VIRGINIA SICKNESS AND DISABILITY PROGRAM (VSDP) Provides eligible employees sick leave (8, 9 or 10 days annually) Provides eligible employees sick leave (8, 9 or 10 days annually) Family and personal leave (4 or 5 days annually) Family and personal leave (4 or 5 days annually) No carry-over from year to year No carry-over from year to year Provides short and long term disability Provides short and long term disability

43 5/09Old Dominion University Department of Human Resources 43 What are my Responsibilities? Provide accurate, current information Provide accurate, current information Notify HR of Address Changes or Name Changes or Dependent Changes Notify HR of Address Changes or Name Changes or Dependent Changes Read the information sent out about benefits through s, flyers, newsletters, University Announcements Read the information sent out about benefits through s, flyers, newsletters, University Announcements Remember that these are YOUR benefits and you need to understand them. Remember that these are YOUR benefits and you need to understand them.

44 5/09Old Dominion University Department of Human Resources 44 WORKERS COMPENSATION Job-related injuries Job-related injuries Immediately report your injury to your supervisor, in writing, if possible Immediately report your injury to your supervisor, in writing, if possible Contact the Department of Human Resources at ext Contact the Department of Human Resources at ext Workers Compensation will be coordinated with VSDP coverage, if applicable Workers Compensation will be coordinated with VSDP coverage, if applicable

45 5/09Old Dominion University Department of Human Resources 45 RETURN TO WORK PROGRAM RETURN TO WORK PROGRAM Work and non-work related injuries Work and non-work related injuries Whenever the doctor prescribes restrictions Whenever the doctor prescribes restrictions Work is a therapy – transition back to work Work is a therapy – transition back to work Part-time or light duty assignments are performed during recovery Part-time or light duty assignments are performed during recovery

46 5/09Old Dominion University Department of Human Resources 46 RETURN TO WORK PROGRAM RETURN TO WORK PROGRAM Work and non-work related injuries Work and non-work related injuries Whenever the doctor prescribes restrictions Whenever the doctor prescribes restrictions Work is a therapy – transition back to work Work is a therapy – transition back to work Part-time or light duty assignments are performed during recovery Part-time or light duty assignments are performed during recovery

47 5/09Old Dominion University Department of Human Resources 47 FOR MEDICAL, PRESCRIIPTION, BEHAVIORAL HEALTH & OPTIONAL VISION/HEARING QUESTIONS FOR MEDICAL, PRESCRIIPTION, BEHAVIORAL HEALTH & OPTIONAL VISION/HEARING QUESTIONSCONTACT: Optima Health Optima Health

48 5/09Old Dominion University Department of Human Resources 48 FOR DENTAL QUESTIONS FOR DENTAL QUESTIONS CONTACT DELTA DENTAL

49 5/09Old Dominion University Department of Human Resources 49 HOW DO I CONTACT VRS? HOW DO I CONTACT VRS? Virginia Retirement System Virginia Retirement System 1200 East Main Street 1200 East Main Street P. O. Box 2500 P. O. Box 2500 Richmond, VA

50 5/09Old Dominion University Department of Human Resources 50 OTHER HELPFULTELEPHONE NUMBERS AND ADDRESSES Minnesota Life Minnesota Life P. O. Box 1193 P. O. Box 1193 Richmond, VA Aetna Long Term Care Aetna Long Term Care VSDP VSDP ( Third Party Administrator is Unum ) ( Third Party Administrator is Unum ) 2211 Congress St. Portland, ME Congress St. Portland, ME 04122


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