BENEFITS ELIGIBILITY

Transcription

1 BENEFITS ELIGIBILITY ITEM WHEN ELIGIBLE WHO IS ELIGIBLE DESCRIPTION Health and Dental Only Insurance Choice of health plans and access to high quality providers. Each plan offers health, dental, prescription drug, and vision exam coverage. The University pays a portion of the monthly premium for full-time and part-time FlexHealth Premium Program allows employees to pay for health and dental only coverage on a before-tax basis. Flexible Spending Accounts Childcare and healthcare reimbursement accounts paid by employee on a before-tax basis. Changes in annual contributions allowed only if a qualifying family status change occurs. Charges must be incurred by the end of month in which employee leaves or retires or March 15 following the plan year (if active) or account balance is forfeited. Health Savings Account (HSA) January 1 following annual open enrollment in November. employees who are enrolled in the High Deductible PPO Health Plan. Employee and University contribute to an HSA account on a tax-favored basis, interest/investment earnings on the account accumulate tax-free and withdrawals from the account will not be subject to tax if used for qualified health, dental, prescription drug and vision expenses while the employee is in active service. Balances in the account at the end of the year will roll forward into subsequent years and withdrawals from the account during retirement will not be subject to tax if used for qualified retiree health, dental, prescription drug and vision expenses. Basic or Free Term (Non-contributory) First day of the month following six months of continuous employment. All regular full-time Term life insurance equal to 100% of annual base salary rounded to the next $1000. Paid by Washington University. Bargaining unit employees and their supervisors should refer to the union contract for information regarding benefits for union

2 Supplemental Term approved by the insurance carrier. Health statement required for coverage in excess of $500,000 or for late enrollees. Employee may elect to purchase an amount of term life insurance equal to 1, 2, 3, or 4 times annual base salary to a maximum of $2,000,000. Paid by employee. Supplemental Term Dependents approved by the insurance carrier. Health statement required for spouse term amount of $75,000 or $100,000. employees, spouse, domestic partner and children. Employee may elect to purchase spouse/domestic partner term life insurance of $25,000, $50,000, $75,000, or $100,000; dependent children insurance equal to $4,000. Spouse coverage cannot exceed employee basic plus optional term life coverage. Paid by employee. Variable Universal approved by the insurance carrier. Employee may elect to purchase a minimum of $100,000 up to a maximum of 5 times base annual salary to a maximum of $3,000,000. Paid by employee. Travel Accident Insurance Date of hire. All employees domiciled in the United States while traveling off University property on University business. Maximum benefit of $250,000 for loss of life or dismemberment resulting from an accident. In addition to any benefits provided under the University s group life insurance plan. Long Term Disability (Non-contributory) with an annual base salary of $12,000 or more are eligible the first of the month following one year of employment. Insurance provides a benefit of 60% of monthly base salary when combined with social security disability and/or workers compensation benefit. Maximum monthly benefit of $8,000. Benefit continues during a period of disability up to age 65 except for disabilities beginning after age 60 when benefits will continue based on an age schedule. Partial disability benefits may be available. Paid by Supplemental Long Term Disability June 1 following annual enrollment in April. All regular full-time benefits eligible employees with annual base salary of $160,000 or greater up to $600,000. Insurance provides a benefit of 66 2/3% of monthly base salary when combined with social security disability benefit and/or workers compensation and regular long term disability plan. Maximum monthly benefit of $25,333. Paid by employee.

3 Long Term Care Insurance First of the month following date of hire* and/or the day the health statement is approved by the insurance carrier. employees and their spouses/domestic partners. Employee and/or spouse/domestic partner may elect one of several plan options that are based on a combination of daily maximums and lifetime maximums. Insurance for custodial care in a nursing home, employee s own home, or an adult day care center. Paid by employee. for First semester following one year of employment. Regular full-time benefits eligible employees who meet the normal admission standards at the University. If regularly working during the day, may enroll in Washington University undergraduate or graduate courses offered through evening programs up to seven credit hours per semester. If regularly working the evening or night shift, may enroll in Washington University undergraduate or graduate courses offered through the day programs up to seven credit hours per semester. Remission of the then stated tuition cost is 100% for undergraduate courses and 50% for graduate courses. Employee must achieve a passing grade. for Spouse/Domestic Partner First semester following one year of full-time employment for undergraduate courses offered through evening programs. First semester following five years of full-time employment for undergraduate courses through day and evening programs. Service in eligible position at other universities counts toward service requirement if no more than 90 days break between employers. Regular full-time benefits eligible employee s spouse/domestic partner. May enroll in Washington University in an undergraduate program or in individual undergraduate courses. Remission of the then stated tuition cost is 50%. Spouse or domestic partner must achieve a passing grade. for Dependent Children Who Attend Washington University After five years or the equivalent of current continuous full-time service. After seven years or the equivalent of current continuous full-time service for employees hired or rehired after July 1, Eligibility extends to dependent children of employees who died, were on leave or retired while active employees if service requirements were met prior to death/disability/ retirement. Service in eligible position at other universities counts toward service requirement if no more than 90 days break between employers. A blood relative of the first degree of a regular full-time employee, legally adopted children; stepchildren if financially dependent upon employee; a blood descendent of the first degree of the employee s domestic partner if dependent of eligible employee for financial support. In all cases, the dependent child must satisfy the IRS definition of dependent for income tax purposes and meet the normal admission standards of May attend any undergraduate division of the University for up to eight semesters. Remission amount is based on employment status at the time the benefit is paid. Remission of the then stated tuition cost is 100% for fulltime employees and 50% for part-time Benefit also pays student activity fee. Also available to children of eligible employees for pursuing pre-baccalaureate studies in University College. Tax-free benefit paid by Washington University.

4 for Dependent Children Who Attend Other Accredited Post- Secondary Institutions After seven years or the equivalent of current continuous full-time service. Eligibility extends to dependent children of employees who died, were on leave, or retired while active employees if service requirements were met prior to death/disability/retirement. Service in eligible position at other universities counts toward service requirement if no more than 90 days break between employers. A blood relative of the first degree of a regular full-time employee, legally adopted child; step-child if financially dependent upon employee; a blood descendant of the first degree of the employee s domestic partner if dependent on eligible employee for financial support. In all cases, the dependent child must satisfy the IRS definition of dependent for income tax purposes and meet the normal admission standards of May enroll in undergraduate courses at another accredited university. Remission amount based on employment status at the time the benefit is paid. Remission of up to 50% (40% for employees hired or rehired after July 1, 2006) of the then stated Washington University cost toward another accredited university s tuition for full-time Remission of up to 25% (20% for employees hired or rehired after July 1, 2006) of the then stated Washington University tuition cost toward another accredited university s tuition for part-time Tax-free benefit paid by MO$T (Missouri Saving for Tuition First of month coincident with or next following date of hire or any subsequent first of month. Program provides an opportunity to save for future college expenses (tuition and other) by making Missouri state tax deductible contributions to a MO$T account for a child, grandchild or other family member. Retirement Savings First of month coincident with or next following date of hire for the employee s contribution. First of the month following two years of full or part-time service for the University s contribution. A minimum employee contribution of 5% (either pre-tax deferred or after-tax Roth) and two years of full or part-time service are required to receive University s contribution. This minimum amount is reduced for employees with annual base salary under $30,000. The schedule of required contributions is as follows: Annual Base Salary Required Contributions Less than $30,000 $5.00/month $30,000 > $44,999 3% $45,000 and above 5% A maximum employee contribution is determined by the IRS on a calendar year basis. Contributions fully vested to the participant. University contribution is based on the age of employees as of January 1 (must complete two years of eligible service). Age Contribution Under % % 50 Retire 11.5%

5 For employees hired or rehired after August 31, 2006, University contribution is based on the years of WU service of employees as of January 1 (must complete two years of eligible service). Service Contribution 2 Years 7.0% 10 Years 10.0% Please note: Detailed plan descriptions are available on the Human Resources website at Retirement Medical Savings Accounts (RMSA) January 1 following annual open enrollment in November. Employee contributes to an RMSA on an after tax basis and University contributes to an employee s RMSA account on a tax favored basis, investment earnings on the account accumulates tax free and withdrawals from the account will not be subject to tax if used for qualified retiree health premiums and qualified retiree health, dental, prescription drug and vision expenses.