1. Benefits Information Lisa Hodges Human Resources, Benefits April 9, 2015

2. Insurance

3. Eligibility Chart http://hr.ufl.edu/benefits/new-employees/eligibility-and-enrollment/

4. http://hr.ufl.edu/benefits/new-employees TUTORIALS

5. Enrollment & Changes New Hire –60 calendar days from hire Qualifying Status Change (QSC) –60 days from a “work or life” event –Documentation required for some events –Examples: Birth/adoption; marriage; divorce; leave/FTE changes; dependent changes; loss of coverage, etc. Annual Open Enrollment –In the Fall –Changes effective January 1 st

6. How do I enroll/make changes? State plans Via the People First website with your People First ID & password (not your UF ID) GatorCare & UFSelect plans Via the myUFL portal using your UF logon & password Be sure not to sign up for duplicate plans!

7. Coverage Effective Dates Coverage begin dates vary by plan selected and when an employee enrolls Generally coverage may start: –State health & basic life- 1 st of mo after hire & enrollment –State supplemental -1 st of the mo after 2 consecutive deductions within the same month –GatorCare health – hire or event date –UFSelect voluntary – hire or event date IMPORTANT NOTE Employees should delay making doctor appointments or prescriptions until AFTER member cards have been received

8. State and UF Health Plans

9. Health Insurance Choices State Plans –Preferred Provider Organization (PPO)- Calendar yr deductible (CYD); has 80/20 % co-insurance & co-pays; nationwide coverage & flexibility to select providers; & more out of pocket costs –Health Maintenance Organization (HMO) – No CYD; co-pays; must use network providers; lower out of pocket costs –Health Investor Plan & Health Savings Account (PPO or HMO option)- Very high CYD; choice of PPO or HMO; pay lower monthly premiums; Eligible for Health Savings Account (HSA) –Enroll through People First portal Pharmacy coverage with CVS/Caremark –PPO & HMOHigh Deductible $7 Generic30% after CYD $30Preferred brand30% after CYD $50 Non-preferred brand50% after CYD –30 day retail and 90 retail/mail order supply available PPO members are required to use mail order or retail 90 day supply for certain maintenance medications

10. UF GatorCare Health Plans Only available to certain employee groups: –Graduate Assistants on appointment –Post Doctoral Associates & Post Doc Fellows –Clinical Faculty & Residents –Employees seeking same sex spouse or domestic partner coverage 3 PPO options – All encourage use of UFHealth network –Prime Plus - Primarily use UFHealth providers –After CYD, Tier 1 (UFHealth) has 90/10% co-ins; or 60/40% at Tier 2 (Florida Blue) –Premium Plan – Provider flexibility & incentives to use UFHealth network –After CYD; Tier 1 is 80/20% co-ins; higher co-ins for Tiers 2 and 3 –GatorGradCare & Options -PPO for GA’s on appt. and Post Docs only –Monthly cost: Rates vary, based on Plan selection & cov. tier –Enroll in the myUFL portal. GA’s use a separate vendor portal –Pharmacy provider is with Magellan Pharmacy Solutions –Plan works on a co-insurance basis with a minimum & maximum out of pocket cost that the employee is expected to pay

11. State and UFSelect Life Insurance Plans

12. State Basic Life State Optional Life UFSelect Term Life Coverage $25,000 max 1 X salary up to lesser of 7 X or 1 million; Above $500,000 requires medical appl Emp: $300,000 SP/Partner $50,000 CH: $25,000 max Open Enrollment increase N/Aby 1 X salaryopen enrollment limits Paid by Employer for full-time Part-time pay based on FTE Employee Pre/post tax cost Pre-taxPost-tax Available Coverage Employee only OPS not eligible Family OPS not eligible, but some temporary employees are Rider benefit AD&D Additional coverageCoverage above the guarantee issue amounts may be requested by medical application Enrollment portalPeople First My UFL State & UFSelect Term Life Insurance

13. State and UFSelect Supplemental Insurances

14. Employees who enroll in the last three months of the year MUST complete 2 elections – one for the current year and one for the new plan year. Contact People First. State Reimbursement Accounts Type Expenses Reimbursed Time FrameContribution Limit Medical Reimbursement Medical, dental, vision, co-pays & deductibles Debit cards (Use or Lose) Expenses from 1/1 – 12/31 of the plan yr + Grace pd. From 1/1 - 3/15 of following year to submit by 4/15 annual deadline $2,550 Limited Medical Reimbursement (Must have a High Ded. plan) Dental, vision, preventive care; medical expenses not included. Debit cards (Use or Lose) Same as above$2,550 Dependent Care Reimbursement Child or Elder care expenses (Use or Lose) Same as above$5,000 Health Savings Account (Must have a High Ded. plan) Medical, dental, vision, co-pays & deductibles. Debit cards Portable & carries over N/A UF contributes $500 Ind. $1,000 Fam./year *Employee additional contribution $2,850 Ind. $5,650 Fam./year Enrollment Portal People First *Participants 55 and older can contribute an extra $1,000/year Pre-tax

15. State & UFSelect Dental Plans Plan TypeIndemnity/PPOPrepaid DeductibleYesNo Maximum BenefitYesNo Pre-existing Conditions YesNo Provider Indemnity-Any Dentist PPO- In or Out of network Network Dentist Only Plans State Humana Preferred Plus (4054) State Assurant Freedom Advance (4074) State Ameritas Preventive Plus (4064) State Humana Schedule B (4084) UFSelect Eagles Dental Reimbursement State Humana Network Plus (4004) State United Solstice S700 (4014) State CIGNA Dental (4034) State Assurant Prepaid 225 State Humana Select 15 (4044) Enrollment portal State – via People First UF – via myUFL portal State – via People First Which plan is best for me? –Review company brochures –Compare cost & coverage –Dentist appointment availability –State plans are pre-tax; UFSelect is post-tax –Questions? Call dental provider or office

16. State & UFSelect Vision Plans In network cost State Humana Exam & Materials 3004 UFSelect Humana Exam & Materials Exam Every12 months Lenses Every12 months Frames Every24 months Exam co-pay$10.00 Contact lens (can be substituted for lenses; coverage is applied to one or the other, not both) Lenses/Frames co-pay$10.00$15.00 Frame allowance$75 wholesale (approx. $187.50 retail)$50 wholesale (approx. $125 retail) Elective contact lenses allowance$150 Pre or post taxPre-taxPost-tax Dependent coverageFamily including same sex-spouseFamily including domestic partners Enrollment portalPeople FirstmyUFL

17. State & UFSelect Disability Insurance State Short Term (Pre-Tax) UFSelect Long Term (Post-Tax) Elimination Period Various -Based on plan selected30 or 90 day elimination periods Payment Duration 3-24 months, based on plan selected Pays from 31 st or 91 st day until Normal Social Security Retirement Age (NSSRA) with continuing disability Payment Amount Based on plan selected $500-$3,000/month, up to 2/3 Salary Regardless of Other Income Pays 2/3 Salary, Un-taxed benefits, Reduced by Other Income Enrollment portal People First & contact Jennifer Lopez, Agent at 352-335-5016 myUFL

18. Supplemental/Voluntary Plans These plans offer additional coverage to help with out of pocket medical expenses Coverage independent of health insurance State Supplemental plans –Accident Coverage (Colonial) –Cancer/Intensive Care plans (Aflac &Colonial) –Hospital Supplementals (New Era and Chlic) –Must enroll via People First & sign up with an agent UFSelect Voluntary plans –Preferred Legal plan (enroll via the myUFL portal) –VPI Pet insurance – call 1-877-PETS-VPI for quotes & to enroll

19. Salary/FTE Employees & OPS Eligibility

20. Eligibility for State Plans Who is eligible at hire? –New Salary (which are TEAMS & Faculty) employees hired at any FTE* –New OPS hired to work at least 30hrs or more/week* –*Important note: A prior state job (OPS or Salary) even if it was with UF, may affect eligibility at the time of hire What are measurement periods? – A period of 12 consecutive months in which hours are measured by the state to determine eligibility for insurance coverage Who is measured? –New Hire/Initial period – Only for PT Salary employees less than.75FTE & OPS who are not expected to 30 hrs/wk –Annual period - All Salary employees and OPS who are continuously employed as of the 1 st day in the measurement window through the last day of that same period

21. Eligibility for State Plans When are they measured? –New Hire Measurement Period (NHMP) – Begins 1 st of the month after hire through 12 months. (Example: hired 4/9/15 @ PT (less than.75FTE). The NHMP is 5/1/15 to 4/30/16) –NHMP does not re-start if a PT employee is rehired or accepts a 2 nd state job, unless there is a qualified Break In Service –Essentially the clock starts ticking based on the initial job unless there is a Break In Service –Open Enrollment Measurement Period (OEMP) – Begins 10/3 through the following 10/2 of each year. (Example: this year’s OEMP is 10/3/14 to 10/2/15) As a general rule, the state defines Break In Service when: –More than 26 weeks between a term and rehire– Use this rule for employees moving between OPS to Salary jobs & vice versa –More than 1 full calendar month between a term and rehire - Use this rule for employees moving between Salary to Salary jobs –A break between 4-26 weeks, if the time of service prior to termination is less than the period of the break

22. Eligibility for State Plans How does Break In Service work? –Break In Service-- treat as a new hire to enroll, however employee must meet other eligibility criteria –No Break In Service-- other factors are evaluated to determine whether to treat as newly eligible, transfer prior benefits or discontinue. Some of the factors include but are not limited to: –Was employee eligible & enrolled in prior job? Does the rehire job meet eligibility criteria? –Was employee previously eligible, but not enrolled in any benefits? –Was the OPS previously ineligible due to hours, but rehired at 30hrs/wk or more? Are they in the NHMP or OEMP? Departments may refer the state’s Qualified Status Change (QSC) matrix as a guide when processing job hires/changes Review QSC & Measurement Matrix at: http://mybenefits.myflorida.com/health/making_changes_to_your_plans/maki ng_plan_changes_with_a_qualifying_status_change_qsc_event http://mybenefits.myflorida.com/health/making_changes_to_your_plans/maki ng_plan_changes_with_a_qualifying_status_change_qsc_event http://www.dms.myflorida.com/content/download/114638/633750/Measurem ent_Matrix_02-18-2015.pdfhttp://www.dms.myflorida.com/content/download/114638/633750/Measurem ent_Matrix_02-18-2015.pdf

23. Eligibility for State Plans Even if OPS hours increase or they accept a 2 nd state job, doesn’t necessarily mean immediate eligibility for benefits –Here’s some examples: –If a PT OPS (less than.75 FTE) is in the NHMP and has an increase in hours, they will have a QSC to enroll –If a PT OPS (less than.75 FTE) is in the OEMP and has an increase in hours, they do not have a QSC to enroll –If a PT OPS is not expected to work 30 hrs upon hire, but is later measured by the end of the NHMP as meeting the 30 hrs, they will then become eligible at the end of the NHMP as a QSC to enroll

24. Eligibility for State Plans How are hours reported? –OPS hours reported for payroll are sent biweekly to People First –Salary employee hours are calculated by People First on FTE What happens when an employees goes on leave? –Any type of FMLA, medical leave(non-FMLA), jury duty or military leave should be processed in Job Data timely. Unprocessed leave actions may affect an employee’s measurement period & later their eligibility –Employees & Depts. should call the Benefits Office immediately for premium payments or options to cancel if any –OPS on medical, jury duty or military leave are not handled in Job Data. Employees & Depts. must notify the Benefits Office immediately to report time with People First. Unreported leave may count against the measurement periods & later their eligibility

25. Eligibility for State Plans What happens on a personal leave of absence that is without pay (LWOP)? –Former guidelines -- option to cancel or keep benefits within 60 days of LWOP. Cost to keep benefits was a 100% of the employee + employer –New guidelines – employee must keep coverage paying only the employee portion. UF must pay the employer contribution through the employee’s stability period. Refer to matrix for stability periods –Employees may have the option to cancel if they meet other criteria on the state’s QSC matrix –LWOP will not be measured in the employee’s next measurement period. UF is seeking clarification on how the LWOP may impact future eligibility for Salary vs OPS employees--- more to come

26. Eligibility for State Plans When does coverage begin? –If eligible immediately upon hire –1 st of month after hire date and completed enrollment for health – All others plans vary on the pay cycle –If eligible after the NHMP and meets the 30 hr requirement –1 st of the second month following the NHMP & completed enrollment –All others plans vary on the pay cycle When does coverage end? –Salary & OPS who maintain eligibility –coverage ends if cancelled in Open Enrollment for 1/1 or earlier with their QSC date –Employees who don’t meet the 30 hr requirement when measured in the OEMP will have coverage end on 12/31 in the OEMP calendar year

27. Eligibility for State Plans What is the associated stability period? –Employees in the NHMP – 1 st of the second month, following the NHMP and ends the last day of the 12 th month of health coverage Example –NHMP ends 4/30/16 –Employee is measured eligible –Can enroll for coverage 6/1/16 (1 st of second month after NHMP) –Stability period is 6/1/16 thru 5/30/17- benefits locked in even if the employee later has a reduction in hours. The employee is also eligible to continue at the full-time rates –Employees in the OEMP – the stability is 1/1 thru 12/31 Example –OEMP 10/3/14 to 10/2/15 –Employee is measured eligible –Employee enrolls in open enrollment with coverage starting 1/1/16 –Stability period is 1/1/16 thru 12/31/16- benefits locked in even if the employee later has a reduction in hours. The employee is also eligible to continue at the full-time rates

28. Retirement

29. State Retirement Plans Florida Retirement System (FRS) –Pension Plan –Investment Plan State University System (SUS) –Optional Retirement Program –Eligibility determined by position classification

30. FRS Pension Plan Defined Benefit Plan 3% mandatory employee contribution Vesting –6 years if enrolled prior to July 1, 2011 –8 years if enrolled on or after July 1, 2011 Normal retirement –Age 62 & vested or 30 years of service (any age) if enrolled prior to July 1, 2011 –Age 65 & vested or 33 years of service (any age) if enrolled on or after July 1, 2011 Deferred Retirement Option Program (DROP) Benefit based on years of service, earnings, and service credit value (1.60-1.68%)

31. FRS Investment Plan Defined Contribution Plan 6.3% monthly contribution to individual account –3% mandatory employee contribution –3.3% employer contribution One-year vesting requirement Benefit based on account balance at termination of employment 2 nd Election –One time election to switch between the FRS Plans –Contact MyFRS and speak with the unbiased financial planners for assistance.

32. SUS Optional Retirement Program TEAMS-A & Faculty positions are eligible –Determined by position classification –TEAMS-A = Administrative and Professional positions Defined contribution plan –403(b) tax-sheltered annuity plan per IRC 8.14% biweekly contribution to individual account –3% mandatory employee –5.14% employer Immediate vesting Benefit based on account balance at termination of employment

33. Understanding Your Paycheck Employer Paid Benefits The Unfunded Actuarial Liabilities (UAL) & administrative fees are included in the employer’s contribution. This results in a slightly higher amount reflected on the paycheck than what is actually contributed to your account.

34. OPS Employee Plans

35. FICA Alternative Plan Who participates? –Adjunct Faculty –Post Docs –Housestaff –OPS Employees (Both Exempt and Non-Exempt) Defined Contribution Plan authorized under Section 401(a) of the Internal Revenue Code. Employees in certain temporary positions are mandated to participate in lieu of earning credit for Social Security. Mandatory Employee: 7.5% of biweekly earnings VALIC is the investment company –VALIC MicrositeVALIC Microsite

36. Supplementing your Retirement

37. Voluntary Savings Plans Designed to help meet long-term financial and retirement goals Funded by voluntary employee contributions made through payroll deduction Before tax (TDA) and After Tax (Roth) Available to all employees at any time!

38. Tax-Deferred Plans Before-tax elective salary deferral UF 403(b) Plan –Establish a contract with participating investment provider –Complete Salary Reduction Agreement and submit to UF Benefits –Payroll deduction may be changed at any time –2015 elective deferral limit: $18,000 –Additional $6,000 if age 50 or over – The Calendar Year 2015 Worksheet to maximize voluntary retirement savings contributions is located on the Voluntary 403(b) Plans web page.Calendar Year 2015 WorksheetVoluntary 403(b) Plans

39. Tax-Deferred Plans State of Florida 457 Plan –Deferred Compensation Plan –2015 elective deferral limit: $18,000 –Additional $6,000 if age 50 or over –www.myfloridadeferredcomp.com

40. Roth 403(b) Plan After-tax elective salary deferral Contributions apply to the 403(b) deferral limit Establish contract with company and submit Salary Reduction Agreement form to UF Benefits

41. Financial Literacy And Retirement Education www.hr.ufl.edu/retirement/flare Compiled wealth of information in one convenient location –Narrowed down resources from vast array available –Help make educated decisions regarding personal finances –Resources to make ends meet today and plan for the future Subscribe to the Listserv to receive FLARE related information

42. Resources UF Benefits www.hr.ufl.edu/retirement benefits@ufl.edu (352) 392-2477 MyBenefits (Insurance) http://mybenefits.myflorida.com/ 1-866-663-4735 MyFRS (Retirement) www.myfrs.com (866) 446-9377

43. Resources FRS Online Login https://www.rol.frs.state.fl.us/login.aspx Investment Provider Contact Information Investment Provider & Representative List MyUFL (to logon for UF Insurance plan enrollment) https://my.ufl.edu People First (state insurance enrollment) https://peoplefirst.myflorida.com/ Salary Reduction Agreement Tax-Deferred 403(b) Roth 403(b)

44. Questions?