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Pace University New Employee Benefits Orientation 2011-2012 Full Time Faculty & Staff Forward Click to Replay Audio Menu.

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Presentation on theme: "Pace University New Employee Benefits Orientation 2011-2012 Full Time Faculty & Staff Forward Click to Replay Audio Menu."— Presentation transcript:

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2 Pace University New Employee Benefits Orientation Full Time Faculty & Staff Forward Click to Replay Audio Menu

3 Benefits Orientation Menu Full Presentation Medical Plans Dental Plans 403(b) Retirement Plan Life Insurance Reimbursement Accounts Employee Assistance Program Income Protection Long Term Care Education Glossary Forward Back Click to Replay Audio Menu

4 Your Pace Health Income Protection Work Life Financial Security Education Forward Back Click to Replay Audio Menu Total Rewards

5 Benefit Eligible Employee What is the definition of a “benefit eligible employee?” Employees who are employed at.80 FTE (28 hours per week) or greater in a regular full-time position that is expected to be on-going for an indefinite period of time. Employees who are graduate assistants, temporary workers and student employees are not benefit eligible. Forward Back Click to Replay Audio Menu

6 Who Are Your “Eligible Dependents?” Your spouse or registered domestic partner Your natural, adopted, step child(ren) or your registered domestic partner’s children who meet one of the following criteria: For medical/vision plan coverage, to age 26 For dental plan coverage, to age 19, or to age 23 if full-time student status is maintained Children placed in your legal guardianship pending adoption Foster child(ren) under the age of 26 for medical/vision, age 19 for dental (or maximum age of 23 with full-time student status) Court Ordered guardianship of a child(ren) under the age of 26 for medical/vision, age 19 for dental (or maximum age of 23 with full- time student status) No exclusions for pre-existing conditions. Forward Back Click to Replay Audio Menu

7 Pre-tax and Post Tax Deductions Most premiums are deducted on a semi-monthly basis through payroll deduction The portion of premiums paid through payroll deduction for dependents you CANNOT claim is taken from your check after taxes (post-tax deduction) – for example, all domestic partner benefits are post-tax Check with your tax advisor for information about your specific situation Pre-tax deductions include: –Medical premiums –Dental premiums –Vision premiums –Flexible Spending Accounts –Retirement Contributions Forward Back Click to Replay Audio Menu

8 Benefits Effective Dates First business day of the month following or coinciding with full time date of employment. Enrollment must be completed within 31 days from date of hire, otherwise you must wait for the next Open Enrollment Period. Benefits are extended to spouses/registered domestic partners as well as eligible dependent children. Dependent children, in medical/vision, covered to age 26. For dental, to age 19. If full-time student, covered to end of month in which he/she turns 23. Young Adult Option effective July 1, 2010 Forward Back Click to Replay Audio Menu

9 Medical Plans There are 4 CIGNA plan options available. Common Features of all Plans: CIGNA Open Access Plus network Mail order available – 2X retail for 90-day supply Discounts through Healthy Rewards program (www.mycigna.com) Vision coverage – CIGNA Vision No referrals to see a specialist No need to select a Primary Care Physician, although recommended Emergency Room co-pay waived if admitted Forward Back Click to Replay Audio Menu

10 Medical Plans Choice of 4 Options with CIGNA HealthCare – CIGNA In-Net 50 Plan CIGNA In-Net 50 Plan – CIGNA In-Net 20 Plan CIGNA In-Net 20 Plan – CIGNA 90/70 Plan CIGNA 90/70 Plan – CIGNA 100/70 Plan CIGNA 100/70 Plan Even though our plan year extends from July 1 st through June 30 th, deductibles, maximums, etc. are based upon a calendar year Forward Back Click to Replay Audio Menu

11 CIGNA In-Net 50 Plan In Network Benefits $50 co-pay for Office Visits to PCP/Ob-Gyn $50 co-pay to see a Specialist Hospitalization: $500 per day co-pay to annual maximum of $2,500; then 100% $150 Emergency Room co-pay In-Network Rx - $15/$35/$75, Mail Order 2x Annual Out-of-Pocket Maximum - $5,000/$10,000 Outpatient Surgery - $500 co-pay Out of Network Benefits Do Not Apply Forward Back Click to Replay Audio Menu

12 CIGNA In-Net 20 Plan In Network Benefits $20 co-pay for Office Visits to PCP/Ob-Gyn $20 co-pay to see a Specialist No charge for hospital $75 Emergency Room co-pay In-Network Rx - $10/$25/$50, Mail Order 2x Out of Network Benefits Do Not Apply Forward Back Click to Replay Audio Menu

13 CIGNA 90/70 Plan In Network Benefits Annual Single Deductible: $250 Annual Family Deductible: $500 $20 co-pay for Office Visits to PCP $20 co-pay to see a Specialist Deductible and 10% Coinsurance for Hospital $75 Emergency Room co-pay In- Network Rx $10/$25/$50, Mail Order 2x Out-of-pocket maximum for the calendar year: $750 Single out-of-pocket maximum $1,500 Family out-of-pocket maximum Out of Network Benefits Annual Single Deductible: $500 Annual Family Deductible: $1000 Coinsurance: 70% CIGNA responsibility, 30% Member responsibility All charges subject to usual, customary, and reasonable (UCR) rates Out-of-pocket maximum for the calendar year: $2,000 Single out-of-pocket maximum $4,000 Family out-of-pocket maximum Forward Back Click to Replay Audio Menu

14 CIGNA 100/70 Plan In Network Benefits $10 co-pay for Office Visits to PCP/Ob- Gyn $15 co-pay to see a Specialist No charge for hospital $75 Emergency Room co-pay In-Network Rx $10/$25/$50 Rx, Mail Order 2x Out of Network Benefits Annual Single Deductible: $300 Annual Family Deductible: $600 Coinsurance: 70% CIGNA responsibility, 30% Member responsibility All charges subject to usual, customary, and reasonable (UCR) rates Out-of-pocket maximum for the calendar year: $1,800 Single out-of-pocket maximum $3,600 Family out-of-pocket maximum Forward Back Click to Replay Audio Menu

15 In-Network vs. Out-of-Network In-Network (Open Access Plus) The network consists of providers who have been contracted to accept reduced fees negotiated by CIGNA. While some plans allow you to use both in- and out-of-network benefits, using providers that are in- network ensures that you receive the maximum benefits available through the plan. A list of network providers is available online at and Out-of-Network The out-of-network option provides you with the freedom to select any healthcare provider you prefer. If you choose providers that are out- of-network, you are responsible for paying any fees charged over the allowable charge, in addition to paying a higher annual deductible and coinsurance. Forward Back Click to Replay Audio Menu

16 Pharmacy Plan Plan is included with your medical plan. Pharmacy benefits include retail and mail service/home delivery. Plan uses a 3-Tier Formulary (In-Network Pharmacy) Generic prescriptions, Preferred prescriptions, Non-preferred prescriptions See individual plan summaries for co-pay amounts for a 30-day supply See for prescription co-payment cost quotewww.mycigna.com Mail Order Service – 90 day Supply of Medication Mail Order Service: prescription mailed to you at the cost of two 30- day co-payments. Requires 90 day prescription from your medical care provider Forward Back Click to Replay Audio Menu

17 Medical Plan Waiver Option to waive medical coverage and receive $750 annually (pro- rated to $31.25 per paycheck) If coverage is waived initially, can enroll in medical benefits during plan year due to qualifying “Change in Family Status” If medical coverage is waived, can elect to enroll in CIGNA Vision Forward Back Click to Replay Audio Menu

18 CIGNA Vision Plan Included in CIGNA medical coverage; also available if medical coverage is waived Offers both in- and out-of-network coveragein- and out-of-network coverage Eye exam once per 12 months, frames once per 24 months Find an in-network provider at Receive a separate ID card Forward Back Click to Replay Audio Menu

19 Dental Plans CIGNA Dental Care (DHMO, In-Network Only) CIGNA Dental PPO (Offers Both In- and Out-of-Network) Forward Back Click to Replay Audio Menu

20 CIGNA Dental Care (DHMO) Dental Health Maintenance Organization (DHMO) Must choose a Primary Care Dentist No claim forms; No annual benefit maximum Visit for participating dentists You will Receive ID Card Forward Back Click to Replay Audio Menu

21 CIGNA Dental PPO Freedom of choice Diagnostic and preventive – 100% Annual deductible ($50/individual;$150/family), based upon a calendar year $2,000 annual benefit maximum per person (PPO dentist), $1,500 per person (non-participating), based upon a calendar year You will not receive an ID card - generic card availablegeneric card available for in-network (PPO) providers Forward Back Click to Replay Audio Menu

22 CIGNA Dental PPO PPO (CORE Network) Out-of-Network Office Fee Charge$120 Usual, Customary and Reasonable (UCR) Rate $80$100 % of UCR Paid by CIGNA90%80% CIGNA Pays$72$80 Patient Pays$8$40 Forward Back Click to Replay Audio Menu

23 Changes in Family Status Events that Qualify for a Change in Coverage Level: -Change in legal marital status -Birth or adoption -Death of a covered dependent -Employment-related loss of group coverage -Loss of dependent status You 31 days from date of event to enroll in/terminate coverage with appropriate documentation Allows change coverage level, not plan Forward Back Click to Replay Audio Menu

24 COBRA Continuation of coverage for group health insurance that would otherwise be lost due to specific events (i.e. divorce, child’s loss of dependent status) General Notice – provides information about COBRA and your rights and responsibility to notify the University Benefits office regarding such events Visit Human Resources Website for further informationHuman Resources Website Forward Back Click to Replay Audio Menu

25 HIPAA Privacy Rule Effective April 14, 2003 Protected Health Information (PHI) Privacy Notice Privacy Officer Visit Human Resources Website for further informationHuman Resources Website Forward Back Click to Replay Audio Menu

26 Medicare Part D Required notification for newly hired employees Visit Human Resources Website for further informationHuman Resources Website Forward Back Click to Replay Audio Menu

27 403(b) Retirement Plan Defined contribution plan administered by TIAA-CREF Employee contribution – tax deferred University contribution if eligible Forward Back Click to Replay Audio Menu

28 403(b) Retirement Plan Employee Contributions Salary Reduction Agreement and TIAA-CREF account required No service requirement for employee contributions Immediately vested Pre-tax employee contributions For 2010 and 2011, IRS maximum is $16,500 Additional catch-up for 50+ is $5,500 Must enroll to participate Allowed up to four salary reductions per calendar year Loan feature Forward Back Click to Replay Audio Menu

29 403(b) Retirement Plan University Contributions Eligible once Age and Service Requirements are satisfied and required Employee Contribution of at least 3%: AgeFull Time Service years2 years 26+ years1 year Eligibility Criteria May be Waived if: l Worked at higher education institution or 501(c)(3) organization with 403(b) or 401(a) and, l Met service requirements at former employer and are of required age and, l Employed at organization within 3 years of working at Pace University Forward Back Click to Replay Audio Menu

30 403(b) Retirement Plan University Contributions Eligible for University contribution on first of the month following age, service and employee contribution requirements University contributes 9% of base salary if employee contributes at least 3% of base salary Employees contribute on a pre-tax basis Immediately vested Forward Back Click to Replay Audio Menu

31 403(b) Retirement Plan Investment Options TIAA-CREF On-campus counseling sessions – available periodically Forward Back Click to Replay Audio Menu

32 Life Insurance Basic Life Pace University provides life insurance equal to 1X base annual salary (up to $100,000) at no cost Voluntary Life Ability to purchase additional (voluntary) life insurance at 1X, 2X, or 3X base salary; maximum of basic and voluntary combined coverage is $750,000 Rates (based upon age, salary, and coverage level) are guaranteed until June 30, 2013 Evidence of Insurability for employee is not required during initial enrollment period for amounts under $400,000 Any amounts over $400,000 require medical evidence of insurability Forward Back Click to Replay Audio Menu

33 CIGNA Secure Travel Travel Assist Services Component of Basic life insurance coverage Available when traveling 100 miles or more from home Comprehensive range of information, referral, coordination, and arrangement services designed to respond to medical care situations and emergencies 24 hours per day, 365 Days per year Available to spouse/registered domestic partner/ dependents traveling with you Visit Human Resources Website for further informationHuman Resources Website Forward Back Click to Replay Audio Menu

34 Dependent Life Insurance Coverage: – Spouse/Domestic Partner - $10,000 – Children from ages 14 days to 19 years (age 23 if full-time student) - $5,000 Cost: $1.63 / paycheck Rate is the same if covering a spouse or a spouse/registered domestic partner plus children Evidence of Insurability, for dependents, is waived during initial enrollment period Forward Back Click to Replay Audio Menu

35 Reimbursement Accounts Flexible Spending Account (FSA) – Health Care – Dependent Child Care – Verify account balance and expenses at Commuter Reimbursement Account (CRA) – Mass Transit – Parking – Verify account balance and expenses at Forward Back Click to Replay Audio Menu

36 Flexible Spending Accounts (FSA) Health CareChild and Dependent Care Maximum$8,000$5,000/$2,500 ExpensesCo-Payments; Deductibles; Dental Services Day Care, Nursery School; Care for Eligible Disabled Adult EligibleYou, Spouse, Dependent Children Children Under Age 13; Disabled Spouse, Parent, Child Funds availability Annual Amount Elected is Available Immediately Amount Available is Based Upon Contributions Made Cannot change initial election during the plan year unless there is a qualifying “Change in Family Status “ Must re-enroll each plan year to participate Forward Back Click to Replay Audio Menu

37 FSA Grace Period (Health Care Only) Eligible expenses incurred between July 1 st of the new plan year and September 15 th of the new plan year will be applied to the remaining balance from the previous plan year (as of June 30 th ) before they are applied to the new FSA plan year balance. Example: An employee has $100 remaining in the Health Care FSA as of June 30th. The employee incurs a $120 expense for medical procedures on July 12th. The employee can submit a claim for the $120 which will be reimbursed vs. his $100 remaining account balance for the previous plan year and apply the $20 toward the new plan year. All expenses for the plan year from July 1 st through June 30 th, (plus grace period) must be submitted for reimbursement by September 30 th. Forward Back Click to Replay Audio Menu

38 PayFlex Debit Card MasterCard Debit Card –Utilize a debit card, at authorized merchants, to pay for eligible health care expenses –FSA account is debited and the provider is paid directly from your FSA account –Eliminates need for claim form –Requires that you retain all receipts for submission to PayFlex as requested, as the plan is governed by the IRS. Forward Back Click to Replay Audio Menu

39 Commuter Reimbursement Accounts (CRA) TransitParking Maximum$230/Monthly + Post- Tax Contribution, if Applicable ExpensesMass TransitParking Expenses Incurred Near Work or Train Station Funds AvailableAfter the 15 th and the Last day of the Month After the 15 th and the Last Day of the Month Rolls over from year to year If using claim forms, must submit expenses to BRI within 180 days Can enroll and dis-enroll at any time Forward Back Click to Replay Audio Menu

40 eTRAC Commute Debit Card MasterCard Debit Card –Used for both mass transit and parking expenses –“Stored Value” card –Allows pre- and post-tax contributions –Requires that you retain all receipts for submission to BRI as requested, as the plan is governed by the IRS. Forward Back Click to Replay Audio Menu

41 FSA vs. CRA Flex SpendingCommuter ContributionsPre-TaxPre-Tax + Post-Tax Reimbursable Expenses Health and Dependent Care for You, Spouse and Children Mass Transit and Parking for Employee only Enrollment/ ChangesMust Enroll Each Plan Year; Initial Amount Cannot Be Changed Unless Qualifying Change in Family Status Can Enroll, Dis-Enroll, or Change Contribution Throughout Year Roll-OverGrace Period (Health Care only) Through 9/15 of New Plan Year; Otherwise “Use It or Lose It” Contributions Roll Over; Must Submit Expenses Within 180 Days Forward Back Click to Replay Audio Menu

42 Employee Assistance Program (EAP) Work/Life assistance services provided to you and family members living with you Life Assistance Program - EAP benefit through Pace’s disability carrier- CIGNA Available 24 hours per day/7 days per week Web Site: ―User Name: rewards ―Password: savings Forward Back Click to Replay Audio Menu

43 Employee Assistance Program (EAP) Maximum of 3 face-to-face counseling sessions per member, per incident, at no charge Employee should coordinate EAP provider with current health plan for continuation of care Forward Back Click to Replay Audio Menu

44 DESCRIPTIONBENEFIT Short -Term Disability* Out Sick More Than 7 Consecutive Days Including Weekends/ Holidays Salary and Benefits Continued in Full After One Year of Full- Time Service Up to 26 weeks Workers’ Compensation* Out Sick as a Result of an On-the Job Injury or Illness; Must File a Report with Security Within 24 Hours Salary and Benefits Continued in Full After One Year of Full- Time Service Up to 26 weeks Long- Term Disability* Protects You in the Event That you are Sick for More Than 6 Months 60% Salary Continuation; Continuation on Medical Plan; Eligible after One Year of Full- Time Service Income Protection * Requires Medical Certification Forward Back Click to Replay Audio Menu

45 Long Term Care Voluntary benefit offered through UNUM Available to spouses/registered domestic partners, parents, in-laws and grandparents from ages Evidence of Insurability, for employee only, will be waived if you enroll within the initial 31-day period Rates are comparably lower than individual policies Convenient payroll deductions for premiums Portable if you retire or separate from Pace University Visit https://w3.unumprovident.com/enroll/paceto review the details of the plans, calculate monthly costs and complete enrollment formshttps://w3.unumprovident.com/enroll/pace Forward Back Click to Replay Audio Menu

46 Education On-Campus Tuition Remission –Eligible semester following full-time date of hire –Must follow Office of Student Assistance (OSA) guidelines – late fees, withdrawals Off-Campus Tuition Remission –Employee –Dependent –Eligible semester following full-time date of hire Tuition Exchange Programs –Tuition Exchange, Inc. – 7 years FT service –Council of Independent Colleges (CIC) – 3 years FT service Forward Back Click to Replay Audio Menu

47 On Campus Tuition Remission 100% tuition remission for self, spouse/registered domestic partner and eligible dependent children (up to age 24); 50% for Special Programs Dependent children, from 24 through 30, receive a 50% benefit and 25% benefit for Special Programs Books, special fees, tutorials, independent studies are not included Certificate and Continuing Education courses are covered for employee to acquire certain skills when directly job-related (i.e., at Pace Computer Learning Center) Forward Back Click to Replay Audio Menu

48 Graduate Tuition Remission For the employee only, the first $5,250, per calendar year, in graduate tuition value is tax-free Spouses and dependent children taking graduate courses are taxed in full Contact the Payroll Office for information regarding possible tax implications Forward Back Click to Replay Audio Menu

49 Off Campus Tuition Remission Employee Enrolled in job-related graduate program, toward degree not offered at Pace Public colleges $1,000/academic year Private colleges $1,500/academic year Maximum benefit is 3 years Eligible Dependent Matriculated in undergraduate program outside of Pace Children up to age 24, $600/year Maximum benefit is $2,400 per eligible dependent Forward Back Click to Replay Audio Menu

50 Tuition Exchange Tuition Exchange, Inc.CIC Participating Schools EligibilityDependent ChildrenEmployees, Spouse and Dependent Children, Depends Upon Importing School Service Required 7 Years Full-Time, Based Upon Seniority 3 Years Full-Time Websitewww.tuitionexchange.orgwww.cic.edu Forward Back Click to Replay Audio Menu

51 NY College Savings Program Save for eligible higher education expenses through payroll deductions Minimum contribution of $15/paycheck Qualified withdrawals are exempt from federal and state taxes Eligibility for NYS tax deduction – up to $10,000/year Maximum contributions - $100,000/beneficiary; $235,000/lifetime NYSAVES or Forward Back Click to Replay Audio Menu

52 Other Pace Offerings Academic Federal Credit Union –No fee checking- Credit and debit cards –Loans- Vacation/holiday accounts Call (914) for further information Goldstein Fitness Center (located in Pleasantville) Annual Membership: –Employee $260; –Spouse/Partner $285; 78% Savings Call (914) for further information Pace Bookstore – 10% Discount Forward Back Click to Replay Audio Menu

53 New Hire Benefits Checklist This checklist, and the forms listed below, must be returned to the University Benefits Office within 31 days from your full time date of hire: Benefits Election Form  Medical/Vision Plan Enrollment Form  Dental Enrollment Form  Life Insurance Enrollment Form  Basic Retirement Eligibility Acknowledgement Form  Benefit Eligibility Acknowledgement Form  Flexible Spending Account Plan Enrollment Form  Forward Back Click to Replay Audio Menu

54 Human Resources Web Page Visit and click on:www.pace.edu/hr –Compensation & Benefits and then on Full-Time Faculty & Staff to obtain more plan details, the 2011 – 2012 booklet and links to carrier contact information –Forms for links to benefits-related enrollment and change forms Forward Back Click to Replay Audio Menu

55 University Benefits Office (extension 22828) https://help.pace.edu Forward Back Click to Replay Audio Menu

56 Glossary Coinsurance –Medical cost sharing in a health insurance plan that requires an insured person to pay a stated percentage of medical expenses after the deductible amount, if any, was paid. In the case of the Pace University 90/70 Plan - 90 represents the percentage the plan pays for in-network benefits and the 70 represents the amount the plan pays for out-of-network expenses. The insured will then pay 10 percent for in-network benefits and 30 percent for out-of network benefits. Co-payments – fixed dollar amounts the insured pays for medical services (such as office visits) and prescriptions. Deductible – the amount you must pay before your insurance starts to pay its portion of costs for a covered health expense. Deductibles are based upon a calendar year. In-network- The use of health care providers who have contracted with the health plan to provide the medical services for a predetermined rate of reimbursement. Out-of-network - Services received from a provider who does not participate with the enrollee's health plan. Out-of-pocket Maximum – Specific limits for the total amount you will pay out of your own pocket before your plan coinsurance percentage no longer applies. Once you meet these maximums, your plan then pays 100 percent of the “maximum reimbursable charges” or negotiated fees for covered services. Maximums are based on a calendar year. UCR (Usual, Customary & Reasonable) – rates calculation by a healthcare provider of what it believes is the appropriate fee to pay for a specific health care product or service in the geographic area in which the plan operates. Back Menu


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