Changes for 2008-2009
Medical Plan Changes & Premiums – Plan A
Medical Plan Changes & Premiums – Plan B
Voluntary Dental Plan Changes & Premiums
Supplemental Life Insurance
Voluntary Accidental Death and Dismemberment
Plan A
No changes were made to the Plan A benefit structure this year.
Click here for
a complete schedule of benefits for Plan A.
Prescription Plan
The College will continue the mandatory generic provision for the prescription drug plan. Under this provision, if the plan participant prefers a brand name drug when there is a generic equivalent drug available, the participant will be responsible for the generic copayment and the difference in price between the generic and brand name drug.
| 2008-09
Prescription Co-pays |
| Type of Prescription |
Retail
Pharmacy |
Mail
Order Pharmacy |
| Generic |
$15.00 |
$30.00 |
| Name Brand Formulary |
$30.00 |
$60.00 |
| Name Brand Non-Formulary |
$45.00 or 50%, whichever is greater |
$90.00 |
Click
here for an updated list of formulary prescriptions.
Plan A Premiums
Based on 26 Pay Periods:
| Level of Coverage |
2008-09
Employee Cost |
2008-09
College Cost |
| Individual |
56.53 |
169.60 |
| Employee + 1 |
118.89 |
356.67 |
| Family |
147.77 |
443.30 |
Plan B
No changes were made to the Plan B benefit structure this year.
Click here
for a complete schedule of benefits for Plan B.
Prescription Plan Changes
The College will continue the mandatory generic provision for the prescription drug plan. Under this provision, if the plan participant prefers a brand name drug when there is a generic equivalent drug available, the participant will be responsible for the generic copayment and the difference in price between the generic and brand name drug
| 2008-09
Prescription Co-pays |
| Type of Prescription |
Retail
Pharmacy |
Mail
Order Pharmacy |
| Generic |
$15.00 |
$30.00 |
| Name Brand Formulary |
$30.00 |
$60.00 |
| Name Brand Non-Formulary |
$45.00 or 50%, whichever is greater |
$90.00 |
Click here for an updated list of formulary prescriptions.
Plan B Premiums
Based on 26 Pay Periods:
| Level of Coverage |
2008-09
Employee Cost |
2008-09
College Cost |
| Individual |
37.31 |
111.93 |
| Employee + 1 |
78.47 |
235.40 |
| Family |
97.53 |
292.57 |
Voluntary Dental Insurance
The Voluntary Dental Insurance Plan
is changing. Coverage will now be provided through Guardian Life. You may still visit any dentist, but you will pay less out of pocket if you choose a PPO dentist. To see if your dentist is in Guardian's network go to www.guardianlife.com.
The premiums for 2008-09 are as follows (based on 26-pay periods):
| Level of Coverage |
Split Value
Plan
Premium |
PPO
Plan
Premium |
| Individual |
7.54 |
12.38 |
| Employee + 1 |
15.77 |
26.89 |
| Employee + 2 |
19.18 |
28.66 |
| Family |
30.81 |
44.41 |
Supplemental Life Insurance
There are no changes to the Supplemental Life Insurance plan through Unum Provident for the 2008-09 year.
Life insurance is available through payroll deduction for employee and spouse coverage up to $500,000 or 5x their annual salary, whichever is less, and dependent children coverage up to $10,000 per child. The amount of life insurance purchased on a spouse and/or dependent must be equivalent to or less than coverage purchased on the employee.
If you are a current participant in the Supplemental Life Insurance Plan and wish to increase your coverage, you may increase it up to the guaranteed issue amount during open enrollment without answering any medical questions. If you elect coverage for the first time, a medical questionnaire must be completed and Unum Provident must approve coverage.
To enroll or increase coverage for amounts above the guaranteed issue amount, please see the Forms link for enrollment materials. An enrollment form must be completed to enroll or increase coverage above the guaranteed issue amount.
The tables below outlines the details of the coverage for 2008-09:
| Employee
Coverage |
|
|
Life Benefit Amount |
Increments of $10,000
benefit units |
|
Guaranteed Issue |
$150,000 |
|
Overall Maximum |
The lesser of 5x annual
earnings or $500,000 |
Spouse Coverage |
|
Life Benefit Amount |
Increments of $5,000
benefit units
|
|
Guaranteed Issue |
$25,000
|
Overall Maximum |
The lesser of 100%
of the Employee Life or $500,000 |
|
Dependent Coverage |
|
Life Benefit Amount |
Increments of $2,000
benefit units
|
|
Guaranteed Issue |
$10,000
|
Overall Maximum |
The lesser of 100%
of the Employee Life or $10,000 |
The 2008– 2009 life insurance rates per month are
as follows:
| Age |
Employee Rate per $10,000
coverage |
Spouse Rate per $10,000
coverage |
Child Rate per $2,000
coverage |
|
|
|
|
$.731 |
|
15-29
|
.80
|
1.10
|
|
|
30-34
|
.90
|
1.16
|
|
|
35-39
|
1.20
|
1.60
|
|
|
40-44
|
1.793
|
2.28
|
|
|
45-49
|
2.833
|
3.58
|
|
|
50-54
|
4.521
|
5.59
|
|
|
55-59
|
6.981
|
8.46
|
|
|
60-64
|
10.901
|
14.55
|
|
|
65-69
|
18.823
|
24.86
|
|
|
70-74
|
33.660
|
44.28
|
|
|
75+
|
65.790
|
88.69
|
|
Age, Status,
Amount |
Rate |
Calculation |
Cost per
Month |
Cost per Check
(26 per year) |
33, Employee, $150,000 |
.90 |
($150,000/$10,000) x .90 |
$13.50 |
$6.23 |
38, Spouse, $25,000 |
1.60 |
($25,000/$10,000) x 1.60 |
$4.00 |
$1.85 |
Child, $10,000 |
.731 |
($10,000/$2,000) x .731 |
$3.66 |
$1.69 |
52, Employee, $150,000 |
4.521 |
($150,000/$10,000) * 4.521 |
$67.82 |
$31.30 |
54, Spouse, $25,000 |
5.59 |
($25,000/$10,000) *5.59 |
$13.98 |
$6.45 |
Voluntary Accidental Death and Dismemberment
There are no changes to the Voluntary Accidental Death & Dismemberment plan through Unum Provident for the 2008-09 year.
Employees may elect coverage or make changes to their current coverage during open enrollment. You may purchase coverage in increments of $10,000 up to a maximum of $300,000. Employees will be insured for the amount of insurance purchased. A spouse will be covered for 60% of the purchased amount and dependent children for 20% of the purchased amount.
To enroll or make changes to your current coverage, please see the Forms
link for enrollment materials. An enrollment form must be completed.
The 2008-2009 rates for the Voluntary Accidental Death & Dismemberment rates per month are as follows:
Coverage Level
|
Rate per
$10,000
coverage |
| Employee Only |
$.37 |
| Employee and Family |
$.60
|
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