Wealth Retirement Benefits Tax-Deferred Annuity Plan Faculty and Exempt Retirement Plan Non-Exempt and Frozen Retirement Plan

Transcription

1 2014 Benefits Guide

2 Table of Contents Health Medical, Dental, and Vision Eligibility and Enrollment Medical Benefits Health Care Flexible Spending and Savings Accounts Dental Benefits Vision Benefits Additional Health and Wellness Benefits Long Term Care Insurance BMIQ Health Coaching to Quit Tobacco Use Aetna WorldTraveler Insurance Wealth Retirement Benefits Tax-Deferred Annuity Plan Faculty and Exempt Retirement Plan Non-Exempt and Frozen Retirement Plan Time-Off Benefits, Disability, and Life Insurance Time-Off Benefits (Academic Only) Time-Off Benefits (Non-Academic Only) Workers Compensation Family and Medical Leave Disability Benefits Short-Term Disability Coverage Long-Term Disability Coverage Life Insurance Benefits Basic Life Insurance Voluntary Life Insurance Voluntary Life Insurance For Yourself Life Insurance For Your Dependents Business Travel Accident Insurance Accidental Death and Dismemberment Insurance Work and Life Benefits Tuition and Education Benefits For You Employee Tuition Reimbursement Program Career Life Benefit ecornell Tuition and Education Benefits For Your Children EduProfile Children s Tuition Scholarship Plan Dependent and Child Care Benefits Back-up Child, Adult, and Elder Care Services Weill Cornell Children s Center Dependent Care Flexible Spending Account Additional Benefits Commuter Benefits Auto and Homeowners Insurance Starting in Early 2014 Pet Insurance Legal Services Contact List Notices and Disclosures Women s Health Rights Under the Women s Health and Cancer Rights Act of 1998 Women s Health Rights Under the Newborns and Mothers Health Protection Act of 1996 (NMHPA) Medicaid and the Children s Health Insurance Program (CHIP) Offer Free or Low-Cost Health Coverage to Children and Families Creditable Coverage Disclosure Notice Health Care Reform Notice on Health Insurance Marketplace Coverage

3 Be At Weill Cornell Medical College (WCMC), we want to ensure that our faculty and staff have access to the benefits and support they need to help them lead their healthiest lives. It s important, it s the right thing to do, and it s part of what ensures that we continue to attract the best and the brightest minds from around the world. We offer a range of benefits, resources, and support programs to help you stay Well@Weill, both professionally and personally. This Benefits Guide provides a look at each of the plans available to you in It also provides information to help you make coverage decisions that work best for you and your family. If you have any questions about your benefit options or the enrollment process, visit our website at You can also contact the Benefits Office at , option 2.

4 Health Our health benefits include medical, dental, and vision coverage for you and your family. Our plans are designed to help you be proactive about your health and provide comprehensive coverage for ongoing conditions. Medical, Dental, and Vision Eligibility and Enrollment Who s Eligible You Your spouse or domestic partner Your eligible child through the end of the year in which he or she reaches age 26, regardless of whether he or she is a full-time student, tax dependent, or married. Note that coverage doesn t extend to your dependent child s spouse or children. How to Enroll New Employees: You must make your benefits elections within 31 days of your hire date. Unless otherwise noted, your coverage becomes effective on the first day of the month coincident with or following your date of employment, as long as you have enrolled in benefits. You ll receive an from the Benefits Office with information on how to enroll online, or go to to make your elections. Current Employees: After your initial 31-day enrollment period, you can change your elections during Open Enrollment, typically held in November of every year. At that time, you can enroll in a new type of coverage, change your current plan(s), or add a dependent to your coverage without a qualifying event like birth or marriage. If you don t change your benefits during the Open Enrollment period, you ll be defaulted into the following year s version of your current plan(s). Your contributions to a Health Savings Account will continue from year to year, but you must re-enroll in a Flexible Spending Account, if you have one. You will be able to make changes to your enrollment elections during the year if you experience a qualified life event, such as marriage, divorce, birth or adoption of a child, or loss of coverage through another carrier. To change your coverage, please complete the Enrollment Change Form (located at cornell.edu/hr/benefits/) and fax the form, along with any supporting documents, to the Benefits Office at within 31 days of the event. 2

5 Medical Benefits Medical coverage is the cornerstone of your benefits package. Everyone s circumstances are unique, so we offer three different medical plans, each with its own features and advantages. All three plans are administered by Aetna and provide access to their national network of providers. World-Class Medical Care is Just Steps Away One of the best perks of working at a world-class medical institution is access to world-class physicians, resources, and care. As an employee of Weill Cornell, you get in-network access to our very own Weill Cornell Physicians, who are on the cutting edge of medical research and patient care. There are over 800 Weill Cornell Physicians in 22 clinical departments. Preferred Access Over 85% of our Weill Cornell Physicians are part of the Aetna Choice POS II network, which is used by all three of our plans. But, the Weill PPO Plan also offers in-network access to an additional 15% of Weill Cornell Physicians who aren t part of Aetna s network, and it covers office visits for all Weill Cornell Physicians for just a $10 copay. Expanded Primary Care A number of our physicians are conveniently located on the WCMC campus, but with our recent expansion to new offices on West 72nd Street and Lower Manhattan Hospital, it s easier than ever to find a Weill Cornell Physician for primary or specialty care. Weill Cornell CONNECT No matter which plan you have, if you see a Weill Cornell Physician, you can manage your care and appointments through Weill Cornell CONNECT, a safe, convenient, and free online service that lets you view key areas of your medical record, see test results, send secure messages to your provider, request prescription refills, and much more. You can learn more about Weill Cornell Physicians and find a full provider listing at 3

6 Health Health Insurance Glossary Copay Coinsurance Deductible A fixed dollar amount you pay for certain in-network medical services or prescriptions. Your share of the costs of a covered service, calculated as a percent (for example, 10%) of the cost for the service. The amount you need to pay out of pocket every calendar year before the plan begins making payments for certain services. Brand-Name Drug Generic Drug Preferred Brand-Name Drug Non-Preferred Brand-Name Drug Reasonable and Customary Amount Out-of-Pocket Maximum A drug that is manufactured and marketed under a trademark or name. It typically costs more than a generic drug. A drug that is chemically equivalent to a brand-name drug whose patent has expired. Generic drugs are usually less expensive than brand-name drugs. A drug on Aetna s formulary list of preferred drugs. To find out if your prescription is considered a preferred brand-name drug, contact Aetna directly at A brand-name drug that is not on Aetna s formulary list of preferred drugs. The amount that the plan determines is the normal range of payment for a specific service or procedure within a certain geographic area. The most you could pay out of pocket for services during a calendar year. Once you meet the out-of-pocket maximum, the plan will pay for covered services for the rest of the year. Note that out-of-network services are subject to reasonable and customary amounts. 4

7 How Do I Choose A Medical Plan? While our medical plans have a number of common features, they each have some unique benefits. As you consider your options, be sure to: Review the plan features carefully Think about the health care needs you and your family will have in the year ahead Check if your doctor is part of Aetna s National Choice POS II network and/or a Weill Cornell Physician Consider your total costs including how much you ll need to pay through copays, deductibles, and coinsurance not just your costs per paycheck All WCMC Medical Plans Include Some Common Features Free Preventive Care: 100% coverage with no cost to you for a wide range of preventive care services when you use an in-network provider. Access to Aetna and Weill Cornell Providers: All three plans provide access to Aetna s Choice POS II network of providers and the majority of Weill Cornell Physicians. In-Network and Out-of-Network Benefits: The freedom to get care from in-network or out-of-network providers (although your costs are higher out of network). Prescription Coverage: Prescription drug coverage at retail and mail order through Aetna. But There Are Some Differences Managed Care Plan Weill PPO Plan Health Savings Plan Medical Coverage A copay plan. Covers in-network services at 100% after a fixed-dollar copay, including office visits, surgeries, and hospital stays. A coinsurance plan. Covers doctor s office visits at 100% after a copay, but all other in-network services are subject to the deductible and coinsurance. A high deductible plan. Once you meet the deductible, in-network services are covered by coinsurance. Provider Network Aetna Choice POS II network, which includes over 85% of Weill Cornell physicians. Aetna Choice POS II network and the Weill Cornell Physicians who are not part of that network. Aetna Choice POS II network, which includes over 85% of Weill Cornell physicians. Prescription Drug Coverage Pay a copay for covered prescription drugs with no deductible.* Pay a copay for covered prescription drugs with no deductible.* You must first meet the deductible, then you pay a copay for prescription drugs.** Out-of-Network Coverage A high deductible for out-of-network care. The lowest deductible for out-of-network care. A high deductible for out-of-network care. Additional Features The plan with the most predictable out-of-pocket expenses for in-network care. The only plan with infertility and bariatric surgery coverage. The only plan that gives you the opportunity to establish a Health Savings Account (HSA) to save tax-free for eligible health care expenses in 2014 and beyond. *Certain preventive drugs are covered 100% with no deductible on the Managed Care Plan and Weill PPO Plan. **Certain preventive drugs are covered by a copay with no deductible on the Health Savings Plan. Before you select your plan, review the comparison on the following pages with more details on benefits for a range of services. 5

8 Health 2014 Medical Plans: Side-by-Side Comparison The following table provides a summary of key benefits available under each medical plan. Managed Care Plan Weill PPO Plan Health Savings Plan In-Network Benefits Provider network Aetna Choice POS II Aetna Choice POS II, and non-participating Weill Cornell providers Aetna Choice POS II Office visit for preventive care Free Free Free Office visit for other care Weill Cornell physician Aetna network physician Aetna mental health provider $20 copay $20 copay $20 copay $10 copay $25 copay $10 copay 90% after deductible 90% after deductible 90% after deductible Annual deductible N/A $200 individual $600 family* $1,500 individual $3,000 family** Coinsurance Aetna pays You pay 100% $0 90% 10% up to out-ofpocket maximum 90% 10% up to out-of-pocket maximum Annual coinsurance out-of-pocket maximum*** N/A $1,500 individual $3,000 family $1,500 individual $3,000 family Annual copay and deductible out-of-pocket maximum*** $6,350 individual $12,700 family $4,850 individual $9,700 family N/A Urgent care facility visit $35 copay 90% after deductible 90% after deductible Outpatient surgery $100 copay 90% after deductible 90% after deductible Emergency room visit $75 copay 90% after deductible 90% after deductible Hospital stay $250 copay 90% after deductible 90% after deductible Bariatric surgery N/A Covered at New York Presbyterian Hospital only. After $10 copay, physician services are covered 100% and hospital services are covered 90% Infertility services N/A 90% after deductible. Subject to 6 attempt limit per couple per lifetime; 3 attempt and $20,000 lifetime limit for assisted reproductive technology (ART) N/A N/A Care Management Yes Yes Yes 6

9 Managed Care Plan Weill PPO Plan Health Savings Plan Out-of-Network Benefits Annual deductible $1,500 individual $3,000 family* $500 individual $1,500 family* $1,500 individual $3,000 family** What the plan pays, for most services, after the deductible 70% after deductible 70% after deductible 70% after deductible Annual out-of-pocket maximum (excludes the deductible)*** $3,000 individual $6,000 family $3,000 individual $6,000 family $1,500 individual $3,000 family Prescription Drugs 30-day supply at the pharmacy Generic drug $10 copay $10 copay $10 copay Preferred brand-name drug $30 copay $30 copay $30 copay Non-preferred brand-name drug $45 copay $45 copay $45 copay 90-day supply through mail order 2 times copay 2 times copay 2 times copay * Each participant has to meet their individual deductible. If you have a family of more than three individuals, the first three who use the insurance will need to meet the deductible; thereafter the plan will pay according to the plan design. ** The family deductible and annual out-of-pocket maximum are calculated in aggregate. If you enroll for Employee + 1 Dependent or Family coverage, you must meet the entire family deductible before the plan pays benefits for any covered family member. *** The annual out-of-pocket maximum does not apply to charges in excess of reasonable and customary amounts. The Health Savings Plan classifies certain prescription drugs as preventive. For these drugs, the annual deductible doesn t apply and your cost will be limited to the copays listed in the table above. For all other prescription drugs, you must first meet the annual deductible and then copays apply. 7

10 Health Medical Plan Bi-Weekly Contributions for 2014 Your medical plan contributions are based on the level of coverage you select and your annual salary. The following tables show your bi-weekly contributions for medical plan coverage in Weill PPO Plan or Managed Care Plan If your salary falls into this range: Less than $50,000 $50,000 $99,999 $100,000 $149,999 $150,000 or more Employee Only $42 $52 $68 $84 Employee + 1 Dependent $84 $104 $136 $168 Employee + Family $126 $156 $204 $252 Health Savings Plan If your salary falls into this range: Less than $50,000 $50,000 $99,999 $100,000 $149,999 $150,000 or more Employee Only $30 $40 $50 $60 Employee + 1 Dependent $60 $80 $100 $120 Employee + Family $90 $120 $150 $180 Under federal law, monthly contributions for domestic partner coverage are not available on a pre-tax basis. For more information about enrolling a domestic partner, contact the Benefits Office at , option 2. In-Network Providers Weill Cornell physicians: There are over 800 WCMC physicians in 22 clinical departments. You can find a full provider listing at Aetna Choice POS II network providers: Visit or call Aetna at Questions Once you re enrolled: Contact Aetna for medical coverage and claims questions at You can also access the secure Aetna Navigator at It provides online tools and support to help you get to the health care information you need, when you need it. Before you enroll or during Open Enrollment: Contact our Benefits Office with questions about plan selection or enrollment at , option 2. Technical issues: Contact IT services at if you have any questions about the online enrollment system. Summaries of Benefits and Coverage Summaries of Benefits and Coverage (SBCs) for each 2014 medical plan are available on the HR Intranet at You can also receive paper copies, free of charge, by calling the Benefits Office. They summarize important information about coverage in a standard format to help you compare benefits across plan options. 8

11 Health Care Flexible Spending and Savings Accounts Even though our medical plans provide comprehensive coverage, you re bound to have some out-of-pocket medical, dental, and vision expenses during the year. That s why we offer savings and spending accounts that let you use tax-free money to save for eligible out-of-pocket health care expenses, such as copays, deductibles, and coinsurance for a wide variety of covered services. There are two types of accounts you can use to save for your health care expenses: the Health Care Flexible Spending Account (FSA) and Health Savings Account (HSA). Both accounts offer great tax advantages, but there are some important differences to review. Feature Participation Health Care Flexible Spending Account (FSA) Available if you are not enrolled in an HSA for Health Savings Account (HSA) Available only if you enroll in the Health Savings Plan for 2014.* Eligible expenses Many common out-of-pocket costs are considered eligible expenses for both accounts, including: Deductibles Hearing aids Copays and coinsurance Contact lenses and LASIK surgery Dental care and braces And many more Visit the IRS website at and review Publication 502 for a full list of qualified health care expenses that are eligible for tax-free reimbursement from your HSA or FSA. Withdrawals for non-eligible expenses are subject to income tax and penalties. Enrollment You must re-enroll every year, and you can only change your elections due to a qualifying event. Pre-tax contributions? Yes Yes You only need to enroll once, and you can change your elections at any time. Expenses Expenses incurred by December 31, 2014 only.** Expenses for 2014 and beyond.** Use it or lose it rule? Yes. You can submit your claims incurred in 2014 for reimbursement until March 31, After that, you forfeit the funds. No. You keep any remaining balance from year to year. You can even think of your HSA as a way to save for health care expenses in retirement. Investment opportunities? No Yes. Once your balance grows to $1,000, you can invest in a range of options available through Aetna PayFlex. The investment income grows tax-free. Maximum tax-free contribution for 2014 $2,500 Employee only...$3,300 Employee $6,550 Employee + Family...$6,550 Roll over? No Yes. If you leave WCMC, your HSA money goes with you. Catch-up contributions? No Yes. You can contribute an additional $1,000 annually, if you are 55 or older. Administration Administered by EBPA. Administered by Aetna PayFlex. * You can t make contributions to an HSA if you are age 65 or older and enrolled in Medicare. In addition, if you are enrolled in another health plan that is not a high deductible health plan, you can t contribute to an HSA. **You can only use HSA and FSA funds for eligible expenses incurred after your WCMC benefits begin. 9

12 Health How to Use Your Account Flexible Spending Account When you need to pay for an eligible expense, you can access your Health Care FSA money by using a debit card. EBPA will validate the eligibility of your expense electronically every time you use your card, and in some cases, you won t need to file a claim or submit proof of purchase. In other cases, you will need to file a claim and submit proof of purchase. It s always a good idea to retain your receipts in the event that EBPA requests additional information. You need to re-enroll in the FSA every year during the Open Enrollment period, but you can keep the same EBPA FSA debit card from year-to-year. If you prefer not to use your FSA debit card, you can receive reimbursement for eligible expenses by submitting a reimbursement claim form to EBPA. Claim forms are available on our intranet site: Health Savings Account The Health Savings Plan and your HSA work together to help cover your health care expenses. At the Doctor s Office Generally, you won t pay for services at your health care provider s office at the time you receive care. Instead, the office will submit your claim to Aetna and Aetna will process it. Then, your provider will bill you directly for your portion of expenses. If you have money in your HSA, you can use it to pay for these expenses. Keep in mind that it s your responsibility to pay for your share of the cost of services you receive, whether or not you have money in your HSA. At the Pharmacy Your claim will be processed in real time. Depending on the drug, you may be responsible for the full cost or owe a copay. Either way, you can use HSA money for the expense, as long as there s enough money in your account to cover the cost. How to Access Your HSA Money 1. Debit card. Pay directly with the PayFlex debit card linked to your HSA. 2. Online bill payment. Pay online directly from your HSA. 3. Online withdrawal. Transfer funds from your HSA to your personal bank account and pay from there. Dependent Care Flexible Spending Account This account allows you to use pre-tax money for eligible dependent care expenses, including day care and day camps for children less than 13 years of age, as well as elder care for a dependent spouse, parent, or child. You can contribute up to $5,000 in pre-tax money to the Dependent Care FSA in A full list of expenses eligible for reimbursement through the Dependent Care FSA is available in IRS Publication 503, available on the HR Intranet at You can still enroll in the Dependent Care FSA if you have a Health Savings Account. Please note that you have to make contribution elections to the Dependent Care FSA every year. 10

13 Dental Benefits The Dental Assistance Plan covers a wide range of dental services for you and your eligible dependents, from preventive care to more major services. The plan is administered by CIGNA. It Pays to Use CIGNA Network Dentists You re free to use any licensed dental provider, but CIGNA maintains a network of dental providers that can help keep your out-of-pocket costs lower. Lower, negotiated network rates: Although the plan s annual deductible and coinsurance still apply for some services, CIGNA negotiates lower rates with dentists in its network. No claim forms: You will not need to file a claim; your CIGNA network dentist will do all the paperwork on your behalf. For a listing of dentists who participate in the CIGNA network, visit On the website s home page, click on the Find a Doctor link, then click on the Dentist icon. Dental Assistance Plan Details The following table provides an overview of benefits available under the Dental Assistance Plan. Dental Assistance Plan Feature Preventive and diagnostic care Annual deductible Minor restoration (for example, fillings) Major restoration (for example, crowns) Orthodontia Benefit 100%, no deductible $100 per covered person 80%, after annual deductible 50%, after annual deductible 50%, after annual deductible Annual benefit maximum per person $2,000 Lifetime orthodontia maximum per eligible person $2,000 Please note: Charges in excess of reasonable and customary limits are not reimbursable by the plan. Dental Assistance Plan Bi-Weekly Contributions for 2014 Employee Only $6.00 Employee + 1 Dependent $16.50 Employee + Family $

14 Health Vision Benefits The Vision Plan provides benefits for a variety of services, from eye exams to eyeglasses and contact lenses, and even vision correction procedures. The plan is administered by EyeMed SM. Vision Care Services In-Network Benefits Out-of-Network Reimbursement Exam with dilation as necessary Covered at 100% Up to $35 Frames once every 24 months Frames $130 allowance; 20% off balance over $130 Up to $65 Standard Plastic Lenses once every 12 months Single Vision $15 copay Up to $25 Bifocal $15 copay Up to $40 Trifocal $15 copay Up to $55 Lens Options Tint (solid and gradient) Covered at 100% $11 UV coating $15 copay None Standard scratch-resistance Covered at 100% $11 Standard polycarbonate $40 None Standard anti-reflective $45 None Standard progressive (add-on to bifocal) $80 None Premium progressive lenses $80; 80% of charge less than $120 allowance $40 Other add-ons and services 20% off retail price None Contact Lenses (allowance covers materials only) once every 12 months Conventional $130 allowance; 15% off balance over $130 Up to $104 Disposables $130 allowance Up to $104 Medically necessary Paid in full Up to $210 Contact Lens Fit and Follow-up Standard Paid in full and two follow-up visits Up to $40 Premium 10% off retail price, then apply $40 allowance Up to $40 Additional Coverage Retinal Imaging Up to $39 N/A LASIK and PRK Vision Correction Procedures 15% off retail price OR 5% off promotional pricing N/A Vision Plan Bi-weekly Contributions for 2014 Employee Only $2.88 Employee + 1 Dependent $5.44 Employee + Family $

15 Additional Health and Wellness Benefits Long Term Care Long Term Care insurance provides benefits for nursing home and other custodial care not covered by traditional health insurance. If you enroll during your first 31 days of employment, there s no evidence of insurability requirement. You pay premiums directly to CNA, the Long Term Care insurance provider, and not through payroll deductions. For information on how to enroll, visit the CNA website at (password: wcmcltc). You can also call CNA at to request an enrollment kit. BMIQ BMIQ is a revolutionary weight management program developed by Weill Cornell s own Dr. Louis Aronne, one of the nation s leading weight loss experts. We offer both in-person and online BMIQ programs that include: Weekly group sessions with registered dieticians Online and mobile tools to help you track your weight, food, and activity A variety of meal plans designed to help you lose weight while still feeling satisfied BMIQ Live: We periodically offer an 8-week BMIQ program featuring in-person group meetings with a registered dietician and access to all of BMIQ s online and mobile tracking tools. The cost to you is just $20, and WCMC covers the rest. To find out about upcoming in-person sessions, contact the Benefits Office at , option 2 or visit the HR Intranet at med.cornell.edu/hr. BMIQ Online: If you can t make it to in-person sessions, you can sign up for the online version of the BMIQ program at Our employees and their covered dependents can participate in this 8-week program for only $20. WCMC will pay for the balance of program costs. When registering, please use promotion code WCMC2014 if you are an employee and WCMC2014S if you are a covered dependent of an employee. For further information, info@bmiq.com. Health Coaching to Quit Tobacco Use Aetna s Healthy Lifestyle Tobacco Free program provides health coaching and eight weeks of nicotine replacement therapy to help you break the habit. You can select from one-on-one or group coaching, and select the nicotine replacement therapy that works best for your lifestyle: gum, lozenges, or patches. The program is available free-of-charge for all employees and their eligible dependents. To enroll, contact Aetna at Aetna WorldTraveler Insurance If you need to travel for business for an extended period of time, the Aetna WorldTraveler SM plan can provide short-term international health coverage for you and your eligible dependents. Benefits include emergency and urgent care medical benefits (up to $300,000 calendar year plan maximum), 24/7 emergency assistance services, translation services, medical provider referrals, and assistance with lost or stolen travel documents. To learn more or enroll, please contact the Benefits Office at , option 2. 13

16 Wealth Supporting your financial well-being is key part of WCMC s commitment to you. We offer faculty and staff a competitive Well@Weill Wealth Benefits program to help save for retirement. Retirement Benefits Your total retirement benefit from WCMC comes from two sources: Tax-Deferred Annuity Plan You make pre-tax contributions You can grow your savings through plan investments + Faculty and Exempt Retirement Plan* or Non-Exempt and Frozen Retirement Plan WCMC provides this benefit at no cost to you *Fellows, post-doctoral associates, visiting faculty, and faculty who hold an appointment of less than a year are not eligible for this benefit. Tax-Deferred Annuity Plan Eligibility: Employees are eligible to contribute to the Tax-Deferred Annuity Plan immediately upon hire. With this plan, you decide how much to contribute on a pre-tax basis. You save for retirement, all while reducing your current taxable income. You can change, stop, or start your contributions at any time during the year. When your participation begins, you can grow your savings faster by investing your contributions. You have a choice of investing in TIAA-CREF and/or Vanguard through annuity contracts, mutual funds and/or custodial accounts. Investment earnings are tax-deferred until you retire and make withdrawals from your account Contribution Limits: The federal government specifies how much you can contribute to the Tax-Deferred Annuity Plan each year. Tax-Deferred Annuity Plan Contribution Limits If you are Annual amount 2013 Annual amount 2014 Under age 50 $17,500* Not available yet Age 50 and over $23,000* Not available yet * If you will reach age 50 during 2014, you can contribute the higher annual maximum amount. If you are age 50 or over in 2013 and expect to earn more than $195,925, you may be limited in the amount you can contribute to the Tax-Deferred Annuity Plan (this amount may change for 2014 pending information from the federal government). This is due to the combined dollar cap that applies to your contributions to the Tax-Deferred Annuity Plan and WCMC s contributions to the Faculty and Exempt Retirement Plan. Enrollment: You can get enrollment forms from the Benefits Office by calling , option 2 or online at 14

17 Faculty and Exempt Retirement Plan Eligibility: If you are a faculty member who is on a continuing paid appointment or an exempt employee working at least 17.5 hours per week, you will participate in the Faculty and Exempt Retirement Plan after one (1) year of service. WCMC will start making contributions to the plan beginning on the first of the month coincident with or following your year of service. You become vested (meaning, you have full ownership) in contributions from WCMC after three (3) years of employment. This includes the one-year waiting period before participation. Benefit Amount: The contributions from WCMC are automatic, regardless of whether you elect to participate in the Tax-Deferred Annuity Plan, and are based on age, as described in the following table: Age Contribution as a percentage of pensionable earnings* Under age 40 Ages Age 50 and over 5% up to the Social Security Wage Base** plus 10% of the excess 10% up to the Social Security Wage Base** plus 15% of the excess 15% up to the Social Security Wage Base** plus 20% of the excess *Pensionable earnings are capped at $210,000 for Please note that pensionable earnings include base pay and supplemental compensation from the WCMC Physician Organization. **The Social Security Wage Base is $113,700 for The amount for 2014 is not available yet from the federal government. Enrollment: WCMC pays for the contributions to this plan. You need to complete enrollment forms to select your investments within the first 90 days of your eligibility. Fund selections include annuity investments (TIAA), mutual funds (CREF and Vanguard), and mutual fund types Health Insurance Glossary such as stocks, bonds, money market, and balanced funds. TIAA-CREF: Select your investment options at Vanguard: Visit or contact the Benefits Office at , option 2. If you don t enroll within 90 days of eligibility, you will be defaulted to the TIAA-CREF Lifecycle Fund appropriate to your expected retirement age. (Please refer to your summary plan description for more information.) Non-Exempt and Frozen Retirement Plan Eligibility: If you re a non-exempt employee, you automatically participate in the Non-Exempt and Frozen Retirement Plan if you work at least 910 hours in a plan year. There are no investment choices for you to make, but you still need to complete a beneficiary designation form, available on the HR Intranet at Benefit Amount: When your employment with WCMC ends, your benefit is determined by a formula: Your average annual compensation (using the highest 5 consecutive x years during the last 10 years) Your years of service x 1.3% Benefit Amount = You become vested in your benefit once you complete five (5) years of service. When you retire, you can choose how to receive your benefit. (Please refer to your summary plan description for more information.) Enrollment: You don t need to enroll in this plan. You automatically participate as long as you work at least 910 hours in a plan year. 15

18 Time-Off Benefits, Disability, and Life Insurance We all work hard, and time away from work is important to staying Generous personal time and vacation benefits are available when you re ready for a break. When you re not feeling well, you re covered by paid sick time, disability, insurance, and other types of leave, Time-Off Benefits (Academic Only) For academic/faculty employee time-off benefits, including the Salary Continuation Policy, please refer to the Faculty Handbook at Time-Off Benefits (Non-Academic Only) The time-off amounts listed below are for full-time employees. If you are a part-time employee, you earn time-off benefits on a prorated basis, according to the number of hours you work each week. Paid Sick Time Sick time is available when you need to be away from work because of an illness or injury. You re eligible for sick time as soon as you become a WCMC employee. Full-time employees accrue sick time at the rate of seven (7) hours per month (1 day), to a maximum of 840 hours (120 days). Personal Time Once you complete three (3) months of service, you will receive three (3) personal days to use prior to the anniversary of your hire date. Each year after that, you will be credited with three (3) personal days on the anniversary of your hire date. Personal days do not carry over from year to year. Vacation Benefits Vacation benefits give you paid, scheduled time away from work. You earn vacation benefits over time, based on your length of service. You accrue vacation benefits upon hire and may start using them after six (6) months of service. The following table shows the vacation benefit you can earn each year, based on your length of service. If your employment status is Full-time Non-Exempt (eligible for overtime pay) and this is your length of service 1 to 3 years 4 to 5 years 6 to 9 years 10 years or more this is the vacation benefit you can earn each year: 70 hours (10 days) 105 hours (15 days) 154 hours (22 days) 175 hours (25 days) Full-time Non-Exempt A (eligible for overtime pay) Exempt (not eligible for overtime pay) 1 to 5 years 6 to 9 years 10 years or more 1 to 4 years 5 years or more 140 hours (20 days) 154 hours (22 days) 175 hours (25 days) 154 hours (22 days) 175 hours (25 days) Unused vacation time carries over from year to year, up to a limit of 245 hours (35 days). 16

19 so you can rest and recuperate with peace of mind. We also offer life insurance plans to make sure your family is financially secure in case of the unexpected. Workers Compensation Lost pay protection and medical reimbursement are provided for any absence from work due to an on-the-job injury or an occupational illness. All accidents must be reported to your Departmental/ Division Administrator. Employees requiring treatment for an on-the-job injury, occupational illness, treatment for needle sticks, or exposure to bodily fluids should report to Workforce Health & Safety Clinic Services (WHS) at York Avenue (PY020) immediately for treatment, or call Family and Medical Leave In accordance with the Family and Medical Leave Act of 1993 (FMLA), a leave of absence is provided to you when certain qualifying events occur in your life. Under this policy, you are eligible for up to twelve (12) weeks of job-protected leave within a 52-week period. The leave is unpaid except to the extent that it is covered by vacation, personal, and sick time; Short-Term Disability; or Workers Compensation benefits. FMLA runs concurrently with Short-Term Disability and Workers Compensation benefits. For more information about FMLA or to request leave, contact the Benefits Office at , option 2. 17

20 Time-Off Benefits, Disability, and Life Insurance Disability Benefits Short-Term Disability Coverage Academic Employees (Members of the Physician Organization): You are covered under the Salary Continuation Policy described in the Faculty Handbook, instead of this benefit. You can view a copy of the Faculty Handbook at Exempt and Non-Exempt Employees: Coverage: If an illness or injury prevents you from working longer than five (5) consecutive work days, short-term disability benefits provide partial income replacement until you re able to return to work. Your short-term disability coverage will replace 50% of your bi-weekly salary for up to 26 weeks after you have exhausted your accrued sick time, as long as you continue to be disabled. You can supplement this benefit with available vacation or personal time that you have earned. Enrollment: You don t need to enroll in this coverage. It s available automatically once you have completed four (4) weeks of service. Cost: There s no cost to you. WCMC covers this benefit. 18

21 Long-Term Disability Coverage Coverage Amount: If your disability continues beyond 26 weeks, long-term disability coverage provides continued income protection. Your long-term disability benefit equals 60% of your pre-disability income (subject to a monthly dollar maximum). Employees Maximum Monthly Benefit Non-Exempt $3,500 Exempt $15,000 Academic (Members of the Physician Organization) $25,000 Enrollment and Eligibility: Non-Exempt Employees: WCMC pays the full cost of this coverage for non-exempt employees (those eligible for overtime) after one (1) year of employment. No enrollment is necessary. Long-term disability coverage will begin on the first of the month coincident with or following your one-year anniversary of employment. Exempt Employees: Long-term disability coverage is voluntary and available on the first of the month coincident with or following your date of employment. You and WCMC share the cost of the coverage. Academic Employees (Members of the Physician Organization): Long-term disability coverage is voluntary and available on the first of the month coincident with or following your date of employment. Cost: Long-Term Disability Contributions for Exempt Employees Pay If your base pay is $120,000 or below If your base pay is above $120,000 Your share of the cost You pay $0.26 per $100 of coverage. You pay $0.26 per $100 of coverage on the amount under $120,000, and then pay $0.52 per $100 of coverage on the amount above $120,000. Long-Term Disability Contributions for Academic Employees (Members of the PO) Pay For base pay up to $120,000 For base pay over $120,000 and all of your supplemental compensation Your share of the cost You pay $0.45 per $100 of coverage on the amount of base pay that is under $120,000. You pay $0.71 per $100 of coverage on the amount of base pay above $120,000, and $0.71 for every dollar of supplemental compensation, up to a combined limit of $500,

22 Time-Off Benefits, Disability, and Life Insurance Life Insurance Benefits Life Insurance Enrollment Decision Points Do you know how much life insurance coverage you need? What would you like your life insurance policy to achieve? To help you decide, ask yourself a few questions: Do you want coverage that will help? Pay funeral arrangements? Pay the outstanding balance on your mortgage or debts? Offset the loss of your income? For how long? Contribute to the future education of your children? Who would you like to insure? Do you need additional coverage beyond the basic life insurance benefit WCMC provides? Do you need your spouse s income to help support your lifestyle? How long will you need life insurance? When will your mortgage be paid off? When will your children be finished with school? When are you planning to retire? Knowing the answers to these questions can help ensure you don t under-insure or over-insure yourself and your loved ones. When you re ready to enroll, you can select the combination of coverage that best fits your circumstances. Basic Life Insurance Coverage Amount: One times (1x) your base salary, rounded to the next highest $1,000. As long as you re employed by WCMC, your basic life insurance will continue, and will automatically be adjusted with any changes in your pay. Coverage is reduced after you reach age 65, and then again at age 70. The maximum coverage amount is $500,000. Beneficiaries: You need to elect a beneficiary, which is an individual (or group of individuals) who will receive your basic life insurance benefit in the event of your death. Enrollment: You must select a beneficiary during the benefits enrollment process. You can change your beneficiary anytime by completing a form available at hr/benefits. Cost: There s no cost to you for this benefit. Note that coverage amounts over $50,000 are imputed as income, meaning that the IRS considers the value of this benefit to be taxable at the end of the year. The imputed income amount appears on your paycheck, so you can list it when you file your taxes. 20

23 Voluntary Life Insurance If you want coverage in addition to your basic life insurance, you can purchase voluntary life insurance for yourself and your dependents through CIGNA. Voluntary Life Insurance for Yourself Coverage Amount: You can choose an amount from one (1x) to five (5x) your base salary. The maximum coverage amount for voluntary life insurance is $1 million (beyond the basic life insurance WCMC provides). Enrollment: You can enroll at any time. Enrollment forms are available on the HR Intranet at Evidence of Insurability: Evidence of insurability isn t required during your new-hire enrollment period if you elect one (1x) to three times (3x) your base salary and your coverage doesn t exceed $500,000. If you want more coverage than that, or if you enroll after your new hire eligibility period for any amount of coverage, you will need to complete the evidence of insurability form. Cost: The cost for voluntary life insurance is based on your age and the amount of coverage you select. You pay for this coverage on a post-tax basis. To calculate your bi-weekly premium, use the formula below: Your coverage amount 1,000 x Monthly rate (listed below) = Your Monthly Premium Premium x = Your Monthly Your Bi-Weekly Premium Voluntary Employee Life Insurance Premium Rates for 2014 Age Monthly rate per $1,000 of coverage $ $ $ $ $ $ $ $ and over $

24 Time-Off Benefits, Disability, and Life Insurance Life Insurance for Your Dependents Eligibility: You can also elect life insurance for your spouse or domestic partner and eligible dependent children. Eligibility for your child ends at age 19 (or at age 25 if she or he is a full-time student). If your child is incapable of sustaining employment because of a mental or physical disability, coverage may be available for an extended period. Coverage Amounts: Spouse or Domestic Partner (under age 70): $25,000 Child(ren): Age six months and older: $10,000/child Age six months or less: $500/child Enrollment: You can enroll at any time. Enrollment forms are available on the HR Intranet at Evidence of Insurability: Evidence of insurability isn t required during your new-hire enrollment period. If you enroll a dependent after your new-hire eligibility period for any amount of coverage, you will need to complete the evidence of insurability form. Cost: You pay your premiums for this insurance through after-tax payroll deductions. Your cost is a flat amount, regardless of the number of eligible children you cover. Voluntary Dependent Life Insurance Bi-Weekly Premium for 2014 $2.58, regardless of the number of dependents covered. Business Travel Accident Insurance Business Travel Accident insurance is provided at no cost to you. This benefit provides coverage during business-related travel. The policy provides up to $500,000 for air travel and up to $300,000 for ground travel. For more information, call the Risk Management Office at

25 Accidental Death & Dismemberment Insurance You can purchase voluntary Accidental Death & Dismemberment (AD&D) coverage for yourself and your dependents to provide financial protection in the event of accidental death or severe injury. If you elect coverage, you will be the beneficiary for any spouse or child benefits. Coverage Amounts: For yourself: Any amount in increments of $10,000 (from $10,000 to $500,000). Benefit amounts over $250,000 cannot exceed 10 times your base salary. For your spouse or domestic partner: An amount equal to 50% or 100% of your (the employee) benefit, not to exceed $250,000. For your child(ren): An amount equal to 10% of your own benefit, not to exceed $25,000. Enrollment: You can enroll at any time. Enrollment forms are available on the HR Intranet at Cost: You pay your premiums for this insurance through bi-weekly after-tax payroll deductions. To calculate your cost, find the coverage amount you want in the following table. Voluntary AD&D Bi-Weekly Contributions for 2014 Employee Spouse 50% Spouse 100% Children Coverage Amount Bi-weekly Contribution Coverage Amount Bi-weekly Contribution Coverage Amount Bi-weekly Contribution Coverage Amount Bi-weekly Contribution $10,000 $0.10 $5,000 $0.06 $10,000 $0.10 $1,000 $0.02 $20,000 $0.19 $10,000 $0.10 $20,000 $0.20 $2,000 $0.04 $30,000 $0.30 $15,000 $0.16 $30,000 $0.30 $3,000 $0.06 $40,000 $0.39 $20,000 $0.20 $40,000 $0.41 $4,000 $0.08 $50,000 $0.49 $25,000 $0.26 $50,000 $0.51 $5,000 $0.10 $60,000 $0.58 $30,000 $0.30 $60,000 $0.61 $6,000 $0.12 $70,000 $0.68 $35,000 $0.36 $70,000 $0.71 $7,000 $0.14 $80,000 $0.78 $40,000 $0.41 $80,000 $0.81 $8,000 $0.17 $90,000 $0.88 $45,000 $0.46 $90,000 $0.91 $9,000 $0.18 $100,000 $0.97 $50,000 $0.51 $100,000 $1.02 $10,000 $0.20 $120,000 $1.16 $60,000 $0.61 $120,000 $1.22 $12,000 $0.24 $150,000 $1.46 $75,000 $0.77 $150,000 $1.52 $15,000 $0.30 $170,000 $1.65 $85,000 $0.87 $170,000 $1.73 $17,000 $0.34 $200,000 $1.94 $100,000 $1.02 $200,000 $2.03 $20,000 $0.41 $250,000 $2.43 $125,000 $1.27 $250,000 $2.54 $25,000 $0.51 $300,000 $2.91 $150,000 $1.52 $350,000 $3.40 $175,000 $1.78 $400,000 $3.88 $200,000 $2.03 $450,000 $4.37 $225,000 $2.29 $500,000 $4.85 $250,000 $

26 Work and Life Benefits Your benefits go beyond your personal health and income protection we want to help support you and your family at every stage of life. That s why we offer a range of dependent care, tuition, professional development, and other services to meet your needs at work and at home. Tuition and Education Benefits for You Our tuition and education benefits include tuition reimbursement for degree programs, certificates, and courses, as well as discounted rates for professional development classes. Employee Tuition Reimbursement Program The Tuition Reimbursement program provides up to $5,000, tax-free, per academic year to full-time employees (prorated for part-time service). You re eligible to take courses that begin after six (6) months of employment. Please note that Academic employees who hold an MD or a PhD are not eligible for this benefit. You need to apply before enrolling in the course, and the course must be work-related or taken to satisfy the requirements of a degree or certificate program. The course must be taken during non-work hours at a bona fide educational or business organization, or as part of the online curriculum from these same institutions. Once you have completed the course, you must provide proof of payment, and proof of a passing grade or certificate of completion to the HR Benefits Office to receive reimbursement. Reimbursement will then be made, via the payroll system. Career Life Benefit If you are age 55 or over and have completed at least six (6) months of employment, you can enroll in any course that would assist with planning for a second career or a hobby. The benefit has a maximum of $5,000 per academic year (prorated for part-time service) and is taxable to you. ecornell ecornell is a subsidiary of Cornell University that provides online professional and executive development to students around the world. Cornell offers more than 20 award-winning online certificate programs in a wide variety of disciplines, including leadership and health care management, finance, marketing, project leadership, and systems design. As a WCMC employee, you are eligible for special tuition rates for ecornell courses. Each course is $100 (regularly priced at $699) and may be purchased with a credit card. They are also eligible to be submitted under the Employee Tuition Reimbursement Program. To learn more or register for a course, visit 24