Transcript Slide 1

New Hire Benefits
Information
Office of Human Resources and Employee
Relations
Important Benefits Information
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You have 30 days from your date of hire to enroll in
benefits. Enroll in benefits online using the ADP Self
Service Portal.
If you are a monthly paid employee, you have 60 days to
enroll in retirement. You default into the Teachers
Retirement System of Georgia plan if you do not submit
your retirement decision by the above deadline.
Retirement elections cannot be made online. Submit your
retirement decision to the Office of Human Resources and
Employee Relations.
Verification documents are required to enroll spouse and
children in benefits.
Insurance cards will be mailed in 10 – 14 business days
after your enrollment.
HEALTH PLAN 1: Blue Cross Blue Shield of GA
Open Access POS Plan (PPO)
SELECTED PLAN FEATURES
AND COVERED SERVICES
Maximum Annual Deductible
PLAN PROVISIONS AND
BENEFITS
(In-Network)
PLAN PROVISIONS AND
BENEFITS
(Out-of-Network)
Individual - $300
Family (3+) - $900
Individual - $400
Family (3+) - $1,200
Members who use both In-Network providers and Out-of-Network providers will be responsible for two separate
deductibles and for two separate, maximum out-of-pocket limits (stop loss). Annual deductibles, annual maximum out-ofpocket limits (stop loss), and annual visit limitations, will be based on a January 1 – December 31 plan year
Maximum Annual Out-of-Pocket
Limit (Stop Loss)
Individual - $1,000
Family - $2,000
Individual - $2,000
Family - $4,000
Member co-payments for physician office visits, for emergency room services, and/or for prescription drugs do not apply
toward the annual deductible(s) or toward the maximum annual out-of-pocket (stop loss) limit(s). Member costs incurred
for balance billing will not apply toward the annual deductible(s) or toward the maximum annual out-of-pocket (stop loss)
limits(s).
Wellness Services
Plan pays 100% before deductible
is met
Not covered
Physician Office Visits
Plan pays 100% of network rate
after $20 copay per visit
Plan pays 60% after deductible is
met
Lab Services, Inpatient and
Outpatient Services
Plan pays 90% of network rate
after deductible is met
Plan pays 60% after deductible is
met
HEALTH PLAN 1: Open Access POS Plan (PPO)
Pharmacy Benefits
Retail Pharmacy
(Up to a 30 Day Supply)
Mail Order
(Up to a 90 Day Supply)
Copays apply to supply for 31+ Days
Generic Prescriptions
$10 copay
$25 copay
Preferred Brand Name
$30 copay
$75 copay
20% copay of non-preferred brand
name drug cost, with minimum
copay of $45/maximum copay of
$125
20% copay of non-preferred brand
name drug cost, with minimum
copay of $112.50/maximum copay
of $250
Non Preferred Brand Name
HEALTH PLAN 1: Monthly Premium
Coverage Level
Employee Rate
Georgia College Rate
Total Rate
Employee Only
$ 175.34
$ 409.14
$ 584.48
Employee + 1 Child
$ 315.62
$ 7356.42
$ 1,052.04
Employee + Spouse
$ 368.22
$ 859.18
$ 1,227.40
Family
$ 508.46
$ 1,116.42
$ 1,694.88
HEALTH PLAN 2: Blue Cross Blue Shield of GA
HSA Open Access Plan (PPO)
SELECTED PLAN FEATURES AND
COVERED SERVICES
Maximum Annual Deductible
PLAN PROVISIONS AND
BENEFITS
(In-Network)
PLAN PROVISIONS AND
BENEFITS
(Out-of-Network)
Individual - $1500
Family - $3000
Combined In & Out-of-Network Benefits. For a family contract (Employee + Child, Employee + Spouse, and
Family), all eligible members share a combined family deductible.
Maximum Annual Out-of-Pocket Limit
(Stop Loss)
Individual - $3,000
Family - $6,000
Individual - $6,000
Family - $12,000
Includes the calendar year deductible. In & Out-of-Network amounts remain separate – they do not cross
accumulate.
Preventive (Wellness) Services
Lab Services, Inpatient and
Outpatient Services, Prescriptions
Plan pays 100% before
deductible is met
Plan pays 70% after
deductible is met
Plan pays 90% after
deductible is met
Plan pays 70% after
deductible is met
Pharmacy Benefits are through Blue Cross Blue Shield of Georgia. Each prescription has a 30-day supply
limit. Prescription drug cost estimates can be found http://www.bcbsga.com/bor.
HEALTH PLAN 2: Monthly Premium
Coverage Level
Employee Rate
Georgia College Rate
Total Rate
Employee Only
$ 43.70
$ 247.68
$ 291.38
Employee + 1 Child
$ 76.38
$ 432.78
$ 509.16
Employee + Spouse
$ 88.62
$ 502.24
$ 590.86
Family
$ 121.30
$ 687.34
$ 808.64
INSURANCE DEFINITIONS
Balance Billing: The dollar amount charged by a provider that is in excess
of the plan’s allowed amount for medical care or treatment. Amounts that are
balance billed by a provider are the member’s responsibility.
Deductible: A fixed dollar amount that a member must pay out-of-pocket,
each plan year, before the health care plan will begin to pay for covered
benefits.
Out-of-Pocket (Stop Loss): The maximum amount of healthcare plan
expenses that a member will be required to pay during a plan year. Out-ofpocket expenses include member deductibles and member co-insurance
payments required on an annual plan year basis. Once a member reaches
his/her out-of-pocket limit, the healthcare plan will pay for 100% of covered
expenses for the remainder of the plan year. Member costs incurred for
balance billing will not apply toward the annual maximum out-ofpockets limits (stop loss).
Flexible Spending Account (FSA) vs. Health Savings Account (HSA)
FSA
HSA
Eligibility
An employee whose employer offers
an FSA option.
An employee enrolled in a qualified high deductible health plan
(HDHP).
Contributions
Minimum contribution - $300
Maximum contribution - $5,000
No minimum contribution
Maximum contribution:
- Single $3,100
- Family - $6,250
Catch-up contribution (age 55+): $1,000
Portability
No. Employees forfeit unused
balances.
Yes. Once money is deposited, it is owned by the account holder.
Carryover
No. Employees forfeit unused
balances.
Funds may be carried over indefinitely throughout an account
holder’s lifetime.
Withdrawals
Withdrawals for non-medical
(ineligible) expenses are not
permitted.
As of January 1, 2011, funds not used to pay for qualified medical
expenses may be withdrawn but are subject to an additional 20%
tax penalty except when an individual is 65 or older, disabled or
has died during the year.
Interest
Interest does not accrue for FSA
funds.
Interest accrues without tax penalty.
US BANK HSA INTEREST RATES
$0 to $999.99 - 0.05%
$1,000 to $2,499.99 - 0.15%
$2,500 to $14,999.99 - 0.25%
$15,000 + - 2.25%
Dental Insurance
BOR MetLife Dental Plan
(INN and OON Benefits)
GC MetLife Dental Plan
(INN and OON Benefits)
$50
$50
$1,200 (per plan year)
$1,500 (per plan year)
$1,000
$1,000
Preventive Care
Cleaning, oral exams
100% Network Rate (INN)
Subject to Balance Billing (OON)*
100% Maximum Allowed Charge (INN)
100% Reasonable/Customary Charge (OON)
Basic Care*
80% Network Rate (INN)
Subject to Balance Billing (OON)
80% Maximum Allowed Charge (INN)
80% Reasonable/Customary Charge (OON)
Restorative Care*
80% Network Rate (INN)
Subject to Balance Billing (OON)
50% Maximum Allowed Charge (INN)
50% Reasonable/Customary Charge (OON)
Orthodontia*
80% Network Rate (INN)
Subject to Balance Billing (OON)
50% Maximum Allowed Charge (INN)
50% Reasonable/Customary Charge (OON)
Annual Deductible
Plan Maximum per person
Lifetime Maximum Orthodontia
Dental Insurance Definitions:
BALANCE BILLING: The dollar amount charged by a provider that is in excess of the plan’s allowed amount for
medical/dental care or treatment. Amounts that are balance billed by a provider are the member’s responsibility. Member
costs incurred for balance billing will not apply toward the annual deductible.
NETWORK RATE: The rate that has been negotiated by MetLife for dental services
MAXIMUM ALLOWED CHARGE: The lesser of the amount charged by the Dentist; OR the maximum amount
which the In-Network Dentist has agreed with MetLife to accept as payment in full for the dental service.
REASONABLE/CUSTOMARY CHARGE: The lowest of:
The Dentist’s actual charge for the services or supplies; OR
The usual charge by the Dentist or other provider of the services or supplies for the same or similar services
or supplies; OR
The usual charge of other Dentists or other provider in the same geographic area equal to the 99 th
percentile of charges as determined by MetLife based on charge information for the same or similar services
or supplies maintained in MetLife’s Reasonable and Customary Charge records.
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An example of how the 99th percentile is calculated is to assume one hundred (100) charges for the
same service are contained in MetLife’s Reasonable and Customary charge records. These one
hundred (100) charges would be sorted from lowest to highest charged amount and numbered 1
through 100. The 99th percentile of charges is the charge that is equal to the charge numbered 99.
Dental Insurance Waiting Periods:
BOR MetLife Plan
After enrollment in the plan:
Six (6) month waiting period for orthodontic care.
Two (2) year waiting period for some restorative care
services, i.e. replacement of full dentures
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GC MetLife Plan
If enrolling during your first 30 days of employment, there is no
waiting period for services.
If enrolling during the open enrollment period, there is a one (1)
year waiting period for basic, restorative, and orthodontic care.
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Dental Insurance: Monthly Premiums
Coverage Level
Board of Regents Plan
Georgia College Plan
Employee Only
$ 30.84
$ 27.70
Employee + 1 Child
$ 58.58
N/A
N/A
$ 55.39
Employee + Spouse
$ 61.66
$ 55.39
Family
$ 98.66
$ 88.62
Employee + Child(ren)
Vision Insurance:
Covered Services
Benefit
Frequency of Services
Eye Exam every 12 months
Lenses every 12 months
Frames every 24 months
Co-payments
Eye Exam $10; Contact Exam $55 Lenses $25
Contact Lenses
Medically Necessary; $0 Copay
Elective $115 allowance
Frames
Plan provides $100 allowance
LASIK
Not covered – plan offers discount
Vision Insurance: Plan Exclusions
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Any hospital, surgical or treatment facility, or for
services of an anesthesiologist or anesthetist.
Prescription drugs or pre-medications, whether
dispensed or prescribed.
Medical or surgical treatment of eye, eyes, or
supporting structures
Disability Insurance
If enrolling during your first 30 days of employment, no Evidence of Insurability is
required for disability insurance. However, if you enroll in disability insurance during
open enrollment, your enrollment is subject to Evidence of Insurability.
SPECIAL NOTE:
PRE-EXISTING CONDITION LIMITATION: You will be considered to have a Preexisting Condition and will be subject to the Pre-existing Conditions Limitation if:
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(1) the disability begins in the first twelve (12) months after your effective date;
and
(2) you have received medical Treatment, consultation, care or services,
including diagnostic procedures, or took prescribed drugs or medicines for the
Sickness or Injury, whether specifically diagnosed or not, causing such disability,
during the three (3) months immediately prior to your effective date of insurance.
Weekly Income Benefits will not be paid for a disability caused by; contributed to
by; or resulting from a Pre-existing Condition unless you have been Actively at
Work for one (1) full day following the end of twelve (12) consecutive months
from your effective date of insurance.
Board of Regents CIGNA Life Insurance
Spouse/Child Life: $4.70 = $10,000 per covered
member
Supplemental Life:
1X – 3X Salary – No Evidence of Insurability required
4X – 5X Salary – Evidence of Insurability required
SPECIAL NOTE:
You must be enrolled in the supplemental life insurance
at least ten (10) years prior to retirement in order to
continue the benefit into retirement. The maximum
benefit in retirement is $15,000.
Board of Regents CIGNA Life Insurance
CONVERSION POLICY: If you leave the Board of Regents
and would like to convert their life insurance coverage, you
must do so within 30 days of termination. The conversion
insurance may be a type of life insurance currently being
offered for conversion by the insurance company at your age
and in the amount requested. It may not be term insurance
and it may not be for an amount greater than the Life
Insurance Benefits in force under the Policy. Conversion life
insurance will not provide accident, disability or other
benefits.
Board of Regents CIGNA Life Insurance
FREE VALUE ADDED BENEFITS
CIGNA Will Preparation Program: Last Will and Testament; Living Will; Health
Care Power of Attorney; Financial Power of Attorney; Estate Planning Information;
HIPAA Authorization Forms; Online life and disability planning kits; and Funeral
Planning Services
CIGNA Healthy Rewards: Up to 60% discounts on health and wellness services
CIGNA’s Identity Theft Program: Review credit information to determine if identity
theft occurred; Provide identity theft resolution kit and an affidavit for credit bureaus
and creditors; Assist with cancellation and replacement of lost or stolen credit cards
and documents; Help with emergency travel arrangements, translation services and
message relay
CIGNA Living Benefits:
Terminal Illness Benefit – Employees who are considered to have a terminal
illness can qualify to receive 50% of their life benefit up to $250,000.
Critical Illness-Specified Disease – 25% of the coverage in force up to a
maximum benefit of $50,000.
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GC Reliance Standard Life Insurance
Child Life: $4.70 = $10,000 per covered child
Spouse Life: $10,000 to $250,000 in increments of $10,000, not to
exceed 50% of the Employee’s Covered Amount (Premium is based on
spouse’s age)
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Spouses under age sixty (60): Amounts of insurance over $30,000
are subject to our approval of your spouse's proof of good health.
Spouse age sixty (60) and over: Amounts over $10,000 subject
to EOI
Supplemental Life:
1X – 5X Salary; Guaranteed Issue - $300,000
Evidence of Insurability Required for Coverage Amounts over $300,000
GC Reliance Standard Life Insurance
- Conversion: can convert to an individual policy once no
longer employed by GC
- Portability: can continue under the plan for a period of two
(2) years once no longer employed by GC
SPECIAL NOTE:
You must be enrolled in the supplemental life insurance at
least ten (10) years prior to retirement in order to continue
the benefit into retirement. The maximum benefit in
retirement is $15,000.
AFLAC Benefit Options
Cancer Policy:
If you or your covered dependent under the policy is diagnosed with
cancer and receives treatment, AFLAC Cancer Policy pays CASH
benefits directly to you, unless you choose otherwise. This means
you will have additional resources to help with the financial
consequences of cancer that may not be covered by major medical
insurance.
This plan does not have any deductibles or copayments. The plan is
fully portable and guaranteed renewable. There are no network
restrictions – you choose your own medical treatment provider.
AFLAC Benefit Options
Cancer Policy Monthly Premiums:
Age 18 – 35
Age 36 – 45
Age 46 – 55
Age 56 - 70
Individual
$16.12
$22.40
$33.02
$43.56
Single Family
$16.12
$22.40
$33.02
$43.56
Employee + Spouse
$39.90
$42.12
$61.76
$85.68
Family
$39.90
$42.12
$61.76
$85.68
Pre-Tax Deductions
AFLAC Benefit Options
24-Hour Accident Only Insurance:
AFLAC pays CASH benefits directly to you, unless you choose
otherwise, if a covered member’s accidental death, dismemberment,
or injury is caused by a covered accident that occurs on or off the job.
The Accident Policy has:
No deductibles and no copayments
No lifetime limit – policy won’t terminate based on number or
dollar amount of claims paid.
No network restrictions – you choose your own medical
treatment provider.
No coordination of benefits – AFLAC pays regardless of any
other insurance.
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AFLAC Benefit Options
Accident Policy Monthly Premiums:
Individual - $23.58
Single Family - $34.98
Employee + Spouse - $30.56
Family - $45.50
Georgia College AFLAC Representative
Contact Information:
John Collins
Email: [email protected]
Phone: (478) 454-7512
Retirement Option 1:
Optional Retirement Plan (ORP)
ORP through Fidelity, TIAA-CREF, and Valic are available on the first
day of hire. These plans are defined contribution plans. Employees are
vested immediately. Your retirement depends on the value of the plan
and your select method of withdrawal at the time of your retirement.
The University contributes 9.24% of your gross salary and you
contribute 5% of your gross salary. Choosing one or more of these
vendors gives you the flexibility to invest your retirement funds in fixed
income securities, bonds, equities or a combination of these.
Retirement Option 2:
Teachers Retirement System of Georgia (TRS)
TRS plan is a defined benefit retirement plan for employees of Georgia
College. You must participate in the plan for at least ten (10) years to
become vested and reach the normal retirement age of 60 to receive a
benefit. The defined benefit is equal to 2% of your highest 24
consecutive month’s salary times the number of years of service. The
University contributes 11% of your gross salary and you contribute
5.53% of your gross salary to TRS.
Tax Deferred Annuities
403 (b) Plan
457 (b) Plan
401 (k) Plan
Vendors
Fidelity, TIAA-CREF,
Valic
Fidelity, TIAA-CREF, Valic
GaBreeze
Your Contributions
Maximum contribution is $17,000 for 2012. You can increase or decrease the amount you
contribute to the plan at any time throughout the plan year.
Catch-up
Contributions
You might be eligible
to contribute up to an
additional $5,500 in
2012 if you are age
50 or older.
You may be eligible to contribute up to an additional:
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$17,000 in 2012 if you are within the last three taxable
years ending the year before you reach normal
retirement age (as specified in the plan) and you have
under contributed in prior years, or
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$5,500 in 2012 if you are age 50 or older
- Attainment of age
59 ½
- Your death
- Your disability
- Separation from
service
- Immediate
financial hardship
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Withdrawals
(if any of the
events to the right
apply)
You may be eligible to contribute to an
additional $5,500 in 2012 if you are 50
or older.
If you are eligible for both, you cannot combine the two
catch-up amounts, but you can contribute up to the higher
amount.
Attainment of age 70 ½
Your death
Separation from services
Unforeseeable emergencies
- Attainment of age 59
½
- Heavy and immediate
financial need
- Separation from
service
Benefits Links
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Team Georgia – Employee Discounts
ADP Self Service and Benefits Enrollment
BCBSGA Special Discounts
BCBSGA website (Provider Finder)
GC Benefits website
MetLife Dental
Humana Vision
Discovery Benefits – Flexible Spending Account
U.S. Bank – Health Savings Account
Fidelity Investment – Retirement Vendor
TIAA-CREF – Retirement Vendor
Valic – Retirement Vendor
Teachers Retirement System of Georgia
End of Session