Medical Plan Options

Transcription

1 Medical Plan Options PAK A/ABC PPO/HSA Medical insurance plan PAK A - MESSA ABC PPO/HSA Single: $39.74/pay 2 Person: $141.58/pay Family: $129.16/pay Deductible $1,350/$2,700 In-Network Single/2 Person & Family Deductible $2,700$5,400 Out-of Network Single/2 Person & Family Deductible $2350/$4700 In-Network Single/2 Person & Family Annual Out-ofpocket max 100% In-Network coverage after deductible for medical Copays apply after deductible for Rx ($2, $10, $20, $40) Preventative care covered at 100% In Network Only The plan includes required pre-admission review for all inpatient procedures & mandatory second opinion for certain surgeries PAK C/Choices II PPO Medical insurance plan PAK C - MESSA Choices II PPO Single: $166.25/pay 2 Person: $426.21/pay Family: $483.36/pay Deductible In Network Deductible Out of Network Deductible Individual $0 Individual $250 per calendar year Family $0 Family $500 per calendar year $10/$20 brand name drug co-pay Preventative Care covered at 100% In Network Only The plan includes required pre-admission review for all inpatient procedures & mandatory second opinion for certain surgeries PAK B/Opt - Out Opt-Out Medical option PAK B Medical Opt Out Single: $0/pay 2 Person: $0/pay Family: $0/pay In lieu of medical coverage, employees will receive $50.00 per pay as a reimbursement for selecting this opt-out option.

2 Dental Delta Dental (orthodontic) benefit level $4,000 maximum per person per year $3,500 lifetime maximum orthodontic rider No age limit for orthodontic coverage. Vision MESSA VSP 2 Silver Coverage allows for an exam, a pair of lenses and frames or pair of contact lenses less applicable plan co-pays at a participating provider each plan year.

3 Other Benefits Available Other Eligible Adult (OEA) Medical Reimbursement Account Dependent Care Reimbursement Account Life Insurance - Employee Life Insurance - Family Retirement Tax Shelter Retirement Programs: 403(b) Plan 457(b) Plan StraightLine Workers Compensation Unemployment Compensation Tuition Waiver Employee Tuition Waiver Spouse/Dependent Employee may enroll one other eligible adult ( OEA ) in an FSU-sponsored health care plan (medical, prescription, dental, and vision). OEA dependent must qualify by meeting the definitions offered on the OEA enrollment form and complete a corresponding affidavit. The OEA must currently reside in the same residence as the employee and have done so for the last 18 continuous months. The OEA cannot be a dependent of the FSU employee as defined by the IRS. This benefit is taxable. Please contact Human Resources to inquire about eligibility. Allows the employee to set aside up to $2,550 per plan year on a pre-tax basis to pay for health care expenses not covered by other insurance plans. Some restrictions apply. Allows the employee to set aside up to $5,000 per plan year on a pre-tax basis to pay for dependent care expenses (baby-sitters). Some restrictions apply. $50,000 Group Term Life Insurance at no cost to the employee; additional amounts may be purchased at the employee s cost. Evidence of insurability may be required. $2,000 coverage for spouse and each dependent child at the employee s cost. 12% of gross salary is contributed to either TIAA-CREF or Fidelity Investments for retirement purposes. See the enrollment packet for the appropriate company for more information. Employees who have had prior university service in the Michigan Public Schools Employees Retirement Systems are eligible to continue their MPSERS retirement plan. Some restrictions apply. Voluntary 403(b) Retirement Plans are also available through payroll deductions with the following companies: Fidelity Investments or TIAA-CREF. The following companies also participate in a voluntary 457(b) Retirement Plan: Fidelity Investments or TIAA-CREF. Please note: These plans are subject to applicable IRS guidelines. Provides managed account services to 403(b) and 457(b) plan participants. Participation is voluntary and is funded by the employee. To request information about StraightLine s services, call or info@myrplan.com Employees injured in a work-related accident may be eligible for compensation. Former FSU employees unable to obtain suitable work under State of Michigan regulations may be eligible for compensation. May take up to nine (9) FSU credits per semester, 24 maximum per year, under-graduate or graduate, at no cost. Classes taken must have appropriate administrative approval. Graduate level classes are taxable based on current IRS guidelines. OR May transfer up to nine (9) of the employee s available tuition waiver credits, 24 maximum per year, to a spouse and/or child OR spouse and/or child may receive a 30% tuition discount. This benefit applies only to FSU credit classes and graduate level classes are taxable based on current IRS guidelines. Note: To submit a TW go to: MyFSU/FORMS/HRFORMS/TUITION WAIVER

4 Holidays Vacation Sick Leave Personal Leave Bereavement Leave Medical/Maternity Paternity Leave Military Leave Dining Services Computer Purchases FORD Partner Recognition Plan Employee Assistance Services Court Required Services Credit Union Direct Deposit After 10 days of employment, twelve month, full time employees are granted holiday pay for the following holidays: New Year s Day Thanksgiving Day ½ day Wednesday prior to Thanksgiving Good Friday Day after Thanksgiving Memorial Day Christmas Eve July 4th Christmas Day Labor Day New Year s Eve Additional paid holiday time may be granted by the President. (12 month faculty only) Accrues at the rate of 6.15 hours per pay (maximum accrual is twenty (20) days per year) is available for use by the employee after six (6) months of continuous employment. Accrues at the rate 4.0 hours per pay (maximum accrual is 300 days) and is available for use by employee upon employment. A sick leave bank is available for use by employees who find themselves without sick leave accumulations and have not yet met the elimination period for long-term disability. See current bargaining unit agreement for further details. (12 Month Librarians and Counselors only) Two (2) personal days, one not chargeable and one chargeable to sick leave will be available each fiscal year (after six months of continuous employment). These days are not cumulative. Up to four (4) days of leave will be granted for the death of an immediate family member. One (1) day of leave will be granted for extended family members. See your current bargaining unit agreement for definition of immediate and extended family. Handled in accordance with University Family and Medical Leave Act (FMLA) policy. (See also your current collective bargaining unit agreement and the University Personnel Policies) When ordered by State or Federal Government, military leave will be granted on an individual basis in accordance with applicable State/Federal laws. Employees will receive a 25% discount (10% discount at Starbucks and the University Center Food Court) with ID at any of the food units on campus. Sporting News Grill offers FSU employees a 25% discount Monday-Friday from 11 am- 3 pm. All employees can receive a discount for Dell Computer personal purchases. Ferris State University in cooperation with Ford Motor Company provides an educational discount to full time employees of Ferris State University. For more information visit the Ferris web site at: Select Faculty/Staff; Office of Human Resources; Benefits; and click on the Ford symbol. User ID is FSUNV Employee Assistance Services 7 free visits per plan year available to employee and/or dependents for Counseling needs. Any employee serving jury duty will be paid the difference between his/her pay for jury duty and his/her regular pay. Payroll deductions and other banking services are available through West Michigan State Employee s Credit Union (WMSECU). Available to any bank associated with the Federal Reserve.

5 MESP Michigan Education Savings Plan Michigan Education Savings Plan (MESP) is an opportunity for family and friends to invest in the educational future of a beneficiary. MESP provides the following advantages: No Income Limits Parents, grandparents, relatives, and friends at any income level may open an account and contribute to the MESP on behalf of a beneficiary. Tax Advantages The amount you contribute each year can be deducted from you Michigan taxable income up to a maximum of $10,000 for joint filers and $5,000 for individual. Account earnings grow on both a Federal and State tax-deferred basis. Earnings used to pay for qualified higher education are exempt from federal and Michigan state income tax. Flexibility Funds in the account may be used at any eligible educational institution in the nation. The savings may also be applied to other required educational expenses such as books, supplies, etc. For additional information please contact HR at or visit the MESP website at NOTE: Benefit coverage begins the effective date of hire. If you have any questions about your benefits, contact the Human Resources Prakken Building, Room 150, Phone Number (231) The FFA Contract can be found at: Additionally, the contract can be accessed by: o Going to o Select Faculty and Staff at the bottom o Under Gov Rel/General Counsel, select Labor Relations o Open the contract by choosing Ferris Faculty Association