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Faculty Benefits Orientation

Faculty Benefits Orientation. 2019 Plan Year. Are you Benefits Eligible? The following employees are not eligible for UMMC benefits: Part Time working less than 20 hours/week (PRN) Contract Temporary/Seasonal. Variety of Available Insurance Plans. State Employees’ Health Insurance

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Faculty Benefits Orientation

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  1. Faculty Benefits Orientation 2019 Plan Year

  2. Are you Benefits Eligible? The following employees are not eligible for UMMC benefits: • Part Time working less than 20 hours/week (PRN) • Contract • Temporary/Seasonal

  3. Variety of Available Insurance Plans State Employees’ Health Insurance Dental Vision Flexible Benefits Plan – Medical Reimbursement Account and Dependent Care Reimbursement Account State Group Term Life Supplemental Term Life Whole Life Insurance Short Term Disability Insurance Long Term Disability Insurance Accident Insurance Critical Illness Insurance Hospital Indemnity Plan Burial Insurance

  4. UMMC Benefits Enrollment Process You have 31 days from your DATE of HIRE to elect or decline your benefits. 1) Enroll in your health benefits: Log in to Lawson > Employee Self-Service > Benefits > New Hire Enrollment.* 2) Complete the attached PERS Retirement Form(s) below based on your decision. PERS forms & ORP forms are attached. • PERS - Membership Application (Form 1) and Beneficiary Designation (Form 1B) OR • ORP – ORP Vendor Selection Form 4E (scan and email form to HRBenefits@umc.edu) *Note – Short Term Disability & Whole Life elections are made by speaking to a call center benefits counselor. There will be a link to schedule an appointment on the last page of your online enrollment.

  5. *Only Health, Dental,Vision, and FSA can be elected or changed as a qualifying life event Failure to elect your benefits during online enrollment within 31 days from your hire date, will result in a forfeit of all benefits for the remainder of the 2018 & 2019 calendar year, unless you have a qualifying life event! *Exceptions will not be made. *

  6. Benefits Effective Dates • Date of Hire: State Health Insurance and State Term Life Insurance, and Flexible Spending Accounts • 1st of the Month Following 30 days of Employment: Dental, Vision and Long Term Disability • 1st of the Month Following Date of Application Approval: Short Term Disability, Supplemental Term Life, Whole Life, Hospital Indemnity, Accident and Critical Illness

  7. Insurance Premium Deductions • State Health Insurance and the State Term Life Insurance premiums are deducted a month in advance; therefore, any catch-up of deductions will be taken out of your first (few) check(s) for these benefits. There is no pro-ration based on days. If hire date is 1-15th of the month, then entire prior month’s premium is due. If hire date is 16-31st of the month, then ½ the prior month’s premium is due. Plus ½ of the current month that you have missed. • This will be coded as PR Health or PR Life on your paycheck Example: Your hire date is 7/10. You chose Select Family Coverage. The bi-weekly premium is $352.50. You owe catch-up premiums of $705 for July’s coverage and at least $352.50 for ½ of August coverage for a total of $1,057.50 (1.5 months) of catch-up deductions. If you have not enrolled by the next pay period, then you would owe 2 months in catch-up deductions. Also, your premiums for next months coverage will be deducted at the same time. • For all remaining benefit plans benefit deductions initiate the month in which coverage begins; ex) January coverage is paid for in January • Premiums are deducted from 24 of 26 bi-weekly pay periods • 2 months will have a 3rd pay period. Those pay periods will only have PERS deductions unless a catch-up deduction is scheduled.

  8. Leave Time • As UMMC employees, we accrue both Paid Personal and Medical Leave, with no maximum limits imposed, based upon our hours worked. Full time employees have 10 paid holidays. • One of these is a floating holiday that runs on a fiscal year basis (July 1 – June 30); this holiday does not carry over (use it or lose it). • No leave time can be used prior to the completion of a 90 day orientation period with the exception of bereavement (Medical time) • For a breakdown of leave time accruals and the bereavement policy you may view the Faculty and Staff Handbook located on the UMMC Intranet. • NOTE: State agency transfers with no break in service must notify the Benefits department to initiate transferring leave balances.

  9. Section 125 Plan and Pre-tax Savings • Pre-taxing insurance premiums qualifies us as participants in the Section 125, or Cafeteria Plan. • Pre-taxing is a benefit to you! • UMMC employees are able to SAVE 25% or more in taxes by pre-taxing certain “qualified” contributions! • Pre-taxed benefits include health, dental, vision, flexible spending and retirement.

  10. Qualifying Events • Participation in the Section 125 Plan limits our ability to modify pre-tax benefit elections outside of open enrollment unless the plan participant has a life status change, or a qualifying event. • Qualifying events are: birth, death, marriage, divorce, adoption, a non-US citizen entering the US, loss of coverage from a group plan or gaining coverage on another group plan. Notify us within 60 days of a qualifying event for Medical, Dental/Vision and flexible spending.

  11. Dependent Eligibility • Eligible dependents include the following: • The enrollee’s legal spouse as recognized by Mississippi law, unless the spouse is also an eligible employee under the Plan. • The enrollee’s child up to age 26. (Coverage ends at the end of the month in which the child reaches the age of 26.) • The term “child” includes the following: • Natural child or stepchild or legally adopted child. • Foster child. • Child placed in the enrollee’s home in anticipation of adoption. • Child for whom the enrollee is legal guardian. • Child for whom the enrollee has legal custody. • Child of the enrollee who is required to be covered by reason of a Qualified Medical Child Support Order. • ***The enrollee may be required to provide proof of dependent eligibility.

  12. Health Insurance PlanState Health Plan BCBS of MS – Choose from Base Plan or Select Plan

  13. State Health Insurance – Select Plan LEGACY EMPLOYEE First eligible for State’s Health Plan prior to1/1/06 HORIZON EMPLOYEE First eligible for State’s Health Plan on or after1/1/06

  14. Medical Insurance – Select Plan (BCBS Nationwide Network) *Covers in-network PCP office visit charge only – no deductible or coinsurance; PCP family physicians –general practice physicians, gynecologists, internists, pediatricians, and registered dieticians; participant owes 20% of other services performed (i.e. labs, x-rays);regular plan benefits apply to out-of-office lab services; does not apply to specialist providers, out-of-network providers, hospital visits • Prime Therapeutics is prescription carrier for the State Health Insurance Plan.

  15. Medical Insurance – Base Plan (BCBS Nationwide Network) • *Pharmacy co-pays apply after annual deductible has been met; prior to that you will be paying full price for all prescriptions. There is a $75 individual deductible for certain preventive medication. A complete list of covered preventive medications can be accessed on the KnowYourBenefits.dfa.ms.gov website.

  16. Telehealth and UMMC 2 You Learn more at ummc2you.com • Employee and dependents covered on BCBS of MS State and School Employees’ Health Insurance Plan • Treat conditions such as allergies, asthma, bronchitis, cellulitis, cold & flu, constipation, diarrhea, ear infection, fever, gout, headache, infections, insect bites, joint aches & pains, poison ivy, rashes, respiratory infections, skin inflammation, sore throat, urinary tract infection • Can prescribe recommended medications for your treatment plan, if needed. • Fast, convenient minor medical care online • Access to a board- certified UMMC provider via your smartphone, tablet or computer • An alternative to taking off work and sitting in a waiting room to receive treatment for minor illnesses • Same-day appointments, which typically take 15 minutes or less • Appointments are available 7:00am-7:00pm, Monday-Friday • Telehealth lets doctors examine and treat patients remotely, in real time, using online streaming video technology and interactive tools.

  17. Adult Wellness Coverage for both Select and Base Plans • Benefits will be provided at 100% of the allowable charge for up to two (2) office visits and certain diagnostic tests (based on participant’s age and gender). • No dollar cap on Wellness Benefit for each plan year. • Services must be rendered by In-Network providers. • Services are NOT subject to calendar year deductibles. • Covered wellness/preventive tests are available at : • http://knowyourbenefits.dfa.ms.gov

  18. Well Child Care for both Select and Base Plans • Covers children from birth up to the age of 18. • No dollar cap on Wellness Benefit for each plan year. • Services must be rendered by In-Network providers. • Services are NOT subject to calendar year deductibles • Well-newborn nursery care -100% • Well-child physician office visits - 100% • Specified routine tests - 100% • Childhood routine immunizations - 100%

  19. Health Insurance FAQ’s • Can I cover my spouse who also works for UMMC or another Mississippi state agency?If your spouse is benefits eligible at another MS agency, they must be covered through their employer. • Can I continue other coverage outside of UMMC and also take UMMC health plan coverage?Yes, but UMMC’s plan will be primary since you are the employee here and any other coverage will pay secondary. This means if you choose the Base plan because there is no cost for employee only coverage, you will still have to meet the deductible before either plan will cover charges. Contact BCBS Customer Service for more information. • I’m still covered on my parents health plan. Can I stay on it? Yes, under the Affordable Care Act, dependent children can be covered on a parents health plan until age 26. Once you lose that coverage, it is a qualifying event for you to join our health plan at that time as long as you notify us in a timely manner.

  20. Health Insurance FAQ’s • What if I have coverage through my former employer that is still active? You can decline state health insurance as a new hire and when you no longer have coverage through your former employer that is considered a qualifying event in which you can add coverage here effective the date you no longer have coverage on your previous plan. Contact the benefits office at Hrbenefits@umc.edu. • Are there office visit co-pays?Effective January 1 of 2016, if on Select Plan, there is $25 physician office visit copay. • Are there differences in benefits between the Base and Select Plan?Other than how the deductibles work, there are no differences. The Select plan has a per person deductible for medical and pharmacy regardless of the coverage level and maximum deductible per family. The Base plan has a different deductible for employee only coverage vs employee with one or more dependents and pharmacy is included in the calendar year deductible on the Base Plan. • Is there an employee discount for services rendered at UMMC? Yes, but you have to be on the State Health plan to access the employee discount and the discount only applies to dependents who are on your coverage.

  21. Health Insurance Questions?

  22. Aflac PlansHospital, Accident, and Critical Illness

  23. Aflac Plans – Accident, Critical Illness, Hospital Indemnity • All products pay a lump sum benefits directly to you instead of the provider and are portable if you leave UMMC. • Accident Insurance - pays a lump sum benefit based on the type of injury sustained or type of treatment provided including broken bones, burns, torn ligaments, concussion, eye injuries, ruptured discs, and cuts; covers off the job accidents; $60 wellness is included • Critical Illness - Specified critical illness insurance offers a lump sum benefit payment upon diagnosis of a covered critical illness; choose a benefit coverage amount of either $15,000 or $30,000; $50 wellness is included • Hospital Indemnity – paid directly to you for injuries or illnesses for initial hospital confinement, daily hospital confinement, surgical, anesthesia, and out of hospital prescription drug benefit. Low Option and High Option Plans are available. • *Limitations and Exclusions do apply – please see brochure on HR Benefits website for more information at www.umc.edu/Benefits

  24. Dental and Vision Insurance PlanAlwaysCare Provider

  25. Dental Insurance – AlwaysCare

  26. Dental Insurance FAQ’s • What is the difference between the Network and Choice Plans? The difference is that the Network plan directs you to an AlwaysCare network provider. The Choice plan gives you the freedom to go to any provider regardless of whether or not they are in the network. AlwaysCare has contracted rates with network providers so non-network providers may charge more meaning the Choice plan calendar year maximum will be exhausted faster than the network plan. In a nutshell, you get more for your money with the Network plan. • I’ve never heard of AlwaysCare – do they have a good network in this area? Yes, they have a very expansive network throughout the south and they are constantly adding new providers. Please visit www.alwayscarebenefits.comto see a list of providers. • Are there waiting periods?No, there are no waiting periods for any services that the plan provides.

  27. Vision Insurance – AlwaysCare

  28. Vision Insurance Questions?

  29. Flexible Benefit PlansMedical Reimbursement, Dependent Care Reimbursement Southern Administrators & Benefits Consultants

  30. Flexible Spending Accounts • Medical Reimbursement Account - allows for you to use pre-tax funds to pay for unreimbursed out of pocket expenses related to medical, dental and vision charges for you and/or your dependents. Election amount is cash advanced to you for use towards eligible expenses and is payroll deducted over the remaining pay periods for the rest of the calendar year. • 2018 Maximum Contribution is $2,650 per employee. • Flex “debit” card is available or you can file paper claims. • Must submit proof of eligible charges for claims to be covered. • Use it or Lose it! Claims must be incurred by March 15 and filed for reimbursement as of April 15 or you lose the money! • Dependent Care Reimbursement Account - allows for you to use pre-tax funds to pay for dependent care expenses throughout calendar year. Election amount is payroll deducted over the remaining pay periods for the rest of the calendar year. • 2018-2019 Maximum Contribution is $5,000 • All claims must be submitted with a claim form • Claims must be filed no later than April 15 of following plan year for reimbursement All flexible spending plans must be re-enrolled in every calendar year during open enrollment each October.

  31. Flexible Spending FAQ’s • What if I am not enrolled in any UMMC benefits? Can I elect the Medical Reimbursement plan?Yes, you can still participate in this plan regardless of your other benefit elections and use it toward expenses for you and/or your dependents. • Can I purchase over the counter drugs with the Medical Reimbursement plan?No, over the counter drugs are not eligible for reimbursement. Please refer to the Plan Document on the UMMC Benefits page for more information on items/services that are not eligible for reimbursement. • Can I participate if I had an election at my previous employer?Yes. With the medical reimbursement, you can elect any amount up to the annual maximum, $2,650, but not to exceed within a calendar year. The same for dependent care, your annual reimbursement cannot exceed the $5,000 maximum set forth by the IRS or it could result in tax implications. • Who administers the plan?Southern Administrators & Benefits Consultants • For more information, log onto: www.sabcflex.com

  32. Life Insurance PlansState Group Term, Supplemental Term, and Whole

  33. Life Insurance Plans • State Group Term Life (Minnesota Life) • Employee Only Term Life Insurance • Benefit amount = 2x annual salary rounded up; maximum benefit $100,000 • AD&D amount = amount of life insurance benefit • New Hires guaranteed issue • Cost is 0.045 cents/$1,000 worth of coverage; UMMC pays half the premium • Supplemental Term Life (UNUM) • Employee coverage available 1x – 6x annual salary; maximum benefit $600,000 • Spouse coverage available - $25,000, $50,000, $75,000, or $100,000 (not to exceed 50% of employee coverage); children coverage $10,000); Employee must have coverage to add dependent coverage • New Hire Guaranteed issue – 6x annual salary up to $200,000 • Whole Life Insurance (UNUM) • Builds cash value you can use (borrow from) while living (accrues at a small rate of 4.5%) • Can use up to 6% of face value towards Long Term Care Expenses • Can purchase for spouse and children, maximum coverage is $200K for EE and $75K for spouse • Rates do not increase as you age, guaranteed renewable to age 120, as long as premiums are paid

  34. Disability Insurance PlansShort Term, Standard Long Term, and Mass Mutual Long Term

  35. Short Term Disability - UNUM • Pays monthly benefit to provide portion of income during an illness/injury • You choose your monthly benefit between $400 - $5,000 • Coverage up to 60% of gross monthly salary • Premium is based on age when you enroll – does NOT increase as you age • Waiting period = 14 days • Maximum benefit period = 3 months • Portable • There are pre-existing condition exclusions!

  36. Long Term Disability Insurance – Mass Mutual • Required for all Clinical Faculty Members • Base Monthly Benefit of $3,000 required • Additional benefit amount available • Pays monthly benefit to provide portion of income during an illness/injury • Specialty Specific benefits so that it will pay a benefit based on a portion of lost income • 90 day elimination period • Administered by The William Morris Group - Chris Walters or Scott Bates at 601-948-0030 • Portable

  37. Long Term Disability Insurance – The Standard Insurance Company • Pays monthly benefit to provide portion of income during an illness/injury • Pays 60% of monthly earnings up to maximum of $6,000 • 90 day elimination period • Administered by The William Morris Group -Chris Walters or Scott Bates at 601-948-0030 • Portable

  38. Disability Insurance FAQ’s • What if I am pregnant now? Will Short Term Disability pay a benefit while I am on maternity leave?No. Your policy has to have been in effect a full 9 months for a maternity benefit to be payable.

  39. Retirement PlansState Plans – PERS, ORP (one is required) Option Plans – 457 Deferred Compensation, 403(b) Tax Sheltered Annuity

  40. State Retirement Plans (2 options – Have to Select 1 of these options) • Public Employees Retirement System of Mississippi (PERS) • Defined Benefit Plan • Employee Contributes 9% of Gross salary • Employer Contributes 15.75% of Gross salary • 8 year Vesting Schedule for all new participants • Retirement available vested at age 60 or any age with 30 years of service • Guaranteed Lifetime Benefits • Disability Retirement once Vested • Optional Retirement Plan (ORP) • Defined Contribution Plan • Employee Contributes 9% of Gross salary • Employer Contributes 13.1% of Gross salary • Immediate 100% Vesting • You choose vendor(s): VOYA, TIAA-Cref, or Valic

  41. IRS Maximum Annual Earnings and Contribution Limit • PERS applies the limits on a fiscal year instead of a calendar year; PERS is ½ year behind and the new limits will not change until 7/1/2018. • UMMC contributions increase for PERS to 17.40% and 14.75% for ORP. • PERS Annual Employee compensation limit - increased in 2018 from $270,000 to $275,000 • ORP Annual Combined Employee and Employer Contribution– increased in 2019 from $55,000 to $56,000 • Fiscal year, July 1 – June 30

  42. Voluntary Retirement Option Plans – can enroll at any time • 457 Deferred Compensation • Administered by Empowered • 2019 Maximum Annual Contribution of $19,000. • Annual Catch-Up Provision allows for an additional $6,000 contribution each year once you reach age 50 • Not required to take distribution once you reach a certain age. • 403(b) Tax Sheltered Annuity • 5 vendors for you to choose from- VOYA- VALIC- TIAA-CREF- Fidelity- Lincoln Financial • 2019 Maximum Annual Contribution of $19,000. • Annual Catch-Up Provision allows for an additional $6,000 contribution each year once you reach age 50

  43. Retirement FAQ’s • Can I roll over my former employers 401k or 403b into PERS?No. You would need to start a 457 Deferred Compensation or 403b plan to initiate a rollover. • Does military service apply to PERS service credit?Yes. With a copy of your DD-214 papers, PERS will credit up to 4 years of service credit to your account. • Can I participate in ORP now and move to PERS at a later date?No, once you decide to participate in ORP, you cannot participate in PERS as long as you are in an ORP eligible position. • Does UMMC match contributions to the 457 Deferred Compensation or 403b plan? No. UMMC does not contribute to either plan. • Do I have to start a 403b or 457 account within my new hire period?No. You can start these plans at any point throughout the year.

  44. Other Benefits • Burial Insurance • MACS and MPACT College Savings payroll deductions • Credit Union on Campus • Tuition Benefit for full-time employees whose children attend UMMC or Ole Miss (50% of tuition costs per semester) • University Cafeteria Discount

  45. Local Employee Perks

  46. Now with expanded hours Appointments now available at our Lakeland location to all employees from 7:00 – 8:00 am daily and 12noon – 1pm on Tuesday, Wednesday and Thursdays

  47. Find New Hire Enrollment Information on the Benefits Website: www.umc.edu/Benefits

  48. Things to Remember You will register for your benefits electronically by logging in to Lawson > Employee Self-Service > Benefits > New Hire Enrollment. Make sure to add all eligible dependents in Lawson under Employee Self-Service > Benefits > Dependents. Please do this PRIOR to registering as a new enrollee. This step is recommended even if you are not planning to add anyone to your policies. Short Term Disability & Whole Life registration will be done by setting a phone appointment with a Benefits Counselor at the end of the electronic enrollment. Appointments available starting 1/23/19. You have 31 days including your Date of Hire or Status Change date, to enroll/decline your benefits. Action must be taken. No elections will not be accepted after 31 days of employment. Complete your retirement election form that you desire and return to HRBenefits@umc.edu. Remember, your decision is irrevocable once submitted. If you choose ORP, you will be responsible for opening the retirement account with the vendor you have chosen. UMMC will not be opening an account for you. Once you have submitted your elections Lawson will not let you go in and make changes. If you run into an issue, reach out to the Benefits team immediately.

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