January 2015 *Benefits Highlights fr Medical Center Emplyees Health Insurance Plans A Tricare Supplement plan is ffered t Tricare eligible emplyees: all ther emplyees have t the ptin t enrll in the MUSC Health Plan. Administered thrugh Blue Crss Blue Shield f SC, the MUSC Health Plan is heavily subsidized by the Medical Center and ffers unlimited lifetime benefits. All Medical Center emplyees are paid every tw weeks and 50% f an emplyee s prtin f the mnthly premium is deducted frm the first tw pay checks f each mnth. The MUSC Health Plan If yu select an MUSC Primary Care Physician wh crdinates yur care including prviding referrals t MUSC specialist physicians and fr prcedures cnducted at MUSC, yu will pay less ut f pcket fr mst areas f care and have access t many preventative services free f charge. Here are the highlights f the cverage if yu receive crdinated care within the MUSC netwrk f dctrs and clinics: Physician ffice visit cpays - $25 cpay fr primary care, OBGYN and Rapid Access Clinic visits & $35 cpay fr MUSC specialist physicians with a referral $75 cpay fr MUSC specialist physicians withut a referral frm yur MUSC Primary Care physician Fr mst radilgy prcedures simple cpay f $75 $265 cpay fr MUSC hspital based ut-patient surgery Gd preventative care fr kids Many free preventative services fr adults as per the prvisins f Affrdable Care Act including an annual GYN exam $6 mnthly prescriptin fr generic drugs when filled at MUSC pharmacies If yu chse t receive yur care utside f the MUSC netwrk f dctrs and clinics but within the netwrk f the Standard State Health plan, the benefits f the State s Standard State Health plan apply - here are the highlights: $445 annual deductible fr individuals $890 fr families 80/20 cverage yu pay 20% cn-insurance against the allwable cst f medical prcedures after annual deductible and cpays N c-insurance after the ut-f-pcket maximum f $2540 fr individuals has been met althugh per visit and/r per deductible charges can still apply Wide cverage netwrk this plan is accepted by every general hspital in Suth Carlina and yu will find dctrs and hspitals wh are in-netwrk in every State in the natin Gd preventative care fr kids
Retiree Insurance If yu retire frm MUHA, yu may be eligible t take yur health, dental & visin insurances with yu at the subsidized rate fr the rest f yur life. Medicare Supplement Plan Assuming yu meet the qualificatins t take yur health insurance with yu int retirement, when yu reach age 65, yu will have the ability t exchange yur health insurance fr a subsidized Medicare supplement plan. This plan, ffered thrugh the State, has been custmized t fit tgether with Medicare cverage t limit the ut f pcket expenses t a minimum. The drug cverage n this is cnsidered superir t Medicare part D. Dental Insurance The State ffers 2 levels f dental insurance cverage. In the mnth f Octber during Open Enrllment (dd years nly), yu will have the pprtunity t upgrade r dwngrade yur cverage which will then stay in effect fr a perid f 2 years. Basic Dental The benefits f this plan are: Cst free fr single cverage and less than $12 per paycheck fr family cverage Wide cverage mst licensed dentists will accept this insurance Each insured persn is reimbursed up t $1000 per year fr cvered services Dental Plus This cverage is ffered as a supplement t the basic dental and ffers the fllwing additinal benefits: An extra $1000 per persn f dental insurance benefits per year Insurance pays mre since it has a mre generus reimbursement schedule Life Insurance Term life insurance is available t all benefits eligible emplyees and their families: $3,000 f emplyee term life cmes as part f the benefits f the MUSC Health plan and is prvided at n additinal cst Optinal Term Life prgram ffers new emplyees the ability t insure themselves fr up t 3 times their base salary runded dwn t the clsest $10,000, withut prving gd health Spusal and children - $10,000 r $20,000 fr spuses and $15,000 fr children. Once again, n medical histry is required. All emplyees can apply t increase cverage t a maximum f $500,000 Spuses f emplyees can ptentially apply fr up t $100,000 f cverage
Emplyees nly nce yu have participated in ne f ur tw principal retirement plans (mandatry fr permanent emplyees) the State Retirement system prvides a death benefit equivalent t ne year s base salary fr active emplyees. The ability t cnvert the term life insurance t whle life upn terminatin f emplyment r retirement Disability Insurance The State ffers tw frms f lng term disability cverage and the hspital cntracts with an utside insurance cmpany t ffer shrt-term cverage: Basic lng term disability This cmes embedded within the MUSC Health plan and, after a 90 day disability, apprved claims pay 62.5% f base salary, up t a maximum f $800 per mnth althugh incme ffsets can apply. There is n additinal cst fr this ver and abve the medical insurance premiums Supplemental lng term disability This cverage is ptinal but is very reasnably priced (average premium is apprximately $5 per paycheck) and, n apprved claims, pays 65% f base salary up t a maximum f $8000 per mnth ptentially until age 65 Shrt term disability Offered thrugh American Public Life Insurance Cmpany, apprved claims pay benefits after a seven day waiting perid up t a maximum f 12 weeks. Yu get t chse the amunt f cverage althugh it cannt exceed 60% f yur regular mnthly earnings. Visin Insurance Offered thrugh EyeMed Visin Care, this insurance is accepted at hundreds f lcatins within Suth Carlina and many mre natinwide including leading ptical retailers such as LensCrafters, Pearle Visin, Target Optical, Sears Optical amng thers. The benefits f this plan include: Very reasnable premiums less than $4 per paycheck fr individuals and $11 fr families $10 cpay fr an annual eye exam $10 fr a pair f glasses if yu stay under the budgeted amunts fr lenses & frames Retirement Plans There are 3 main plans ( permanent emplyees must select ne) and fur supplemental plans. State Pensin plan (SCRS) This is a traditinal pensin plan nce yu reach certain career milestnes, yu receive a mnthly check fr life. The benefits f this plan are: Generus match the State requires the hspital t cntribute ver 15% f emplyees pay int this plan althugh apprximately 5% is used t subsidize retiree health, dental and visin insurance fr thse wh qualify
Full retirement, e.g. age 62 with 28 years f participatin can generate a pensin f clse t 50% f emplyees pre-retirement annual pay Pensin checks custmarily receive an annual cst f living increase Optinal Retirement Plan (ORP) This plan is similar t a 401K. Emplyees receive a lump sum f mney at retirement based n the perfrmance f selected investments. The advantages are: Generus match: even thugh the hspital is still required t send the retirement system ver 15% f each emplyees grss pay (includes the retiree insurance csts) 5% is then allcated int emplyees accunts as matching dllars Immediate vesting regardless f hw lng yu are emplyed, the 5% match is yurs t keep whenever yu leave emplyment Flexibility Emplyees will have 3 r 4 pprtunities t switch t the pensin plan during their first 5 years f membership in the ORP Chice f investment prviders Fur natinally recgnized cmpanies ffer their investment chices and access t licensed financial advisrs Special Healthcare Retirement Plan (SHARP) This plan is nly available t certain emplyees nurses but nt nurse mangers, dietary and laundry staff and technical supprt staff wh wrk clinically. The advantages f this plan are: N emplyee cntributin 6 different investment strategies Hspital cntributes apprximately 5% f participant s grss pay Traditinal 401K, Rth 401K, 403B and 457 Plans All 4 f these supplemental retirement plans are available t all emplyees including thse wrking in temprary and part time psitins. The advantages f these plans are: Cntributins t 3 f the 4 plans are made pre-tax, thereby reducing current incme tax liability Rth 401k prvides the pprtunity t receive tax free incme at retirement Emplyees chse the amunt t cntribute frm as little as $10 per paycheck Emplyees under 50 can cntribute as much as $36,000 int a cmbinatin f these plans in 2015. Fr ages 50 and ver, this rises t $48,000 Flexibility: the ptin t change r suspend the cntributin amunt every payrll Many investment ptins and access t licensed financial advisrs Paid Time Off (PTO), Extended Sick Leave (ESL) A minimum f 23 days (includes 7 natinally recgnized hlidays) f PTO and 8 days f ESL fr 40 hur per week emplyees with higher accrual rates fr lng term emplyees. PTO accrual rates increase at 4 years and then again at 8 years f qualified perids f emplyment
Up t three days f paid funeral leave fr bereavement Paid jury duty and military leave Tax Favred Spending Accunts Thrugh the MneyPlus prgram, benefits eligible emplyees have the ability t use pretax dllars t pay fr eligible dependent day care and medical related expenses - cntributins are payrll deducted n a pre-tax basis. The prgram includes: Medical spending accunt Dependent day care accunt Ability t pay insurance premiums with pre-tax dllars Tuitin Assistance The hspital is cmmitted t helping emplyees imprve their wrk related knwledge and skills thrugh cmpletin f curse wrk and degrees ffered by higher educatin institutins. This prgram includes: Tuitin assistance up t $5250 per year May be eligible fr a tax exclusin f up t $5250 If yu want t find ut mre infrmatin abut any f the benefits mentined abve, we invite yu t visit us at the Benefits Desk in the Medical Center HR ffice - Suite 200, 163 Rutledge Ave, Charlestn SC 29403 r call us at 843 792 0826. Alternatively, yu can als visit the HR website at: http://mcintranet.musc.edu/hr. Mark Stimpsn Benefits Manager Tel: 843 792 9320 E-mail: stimps@musc.edu *This dcument is nt intended t prvide a cmprehensive descriptin f all aspects f the prgrams mentined