Benefit Services News

Save the Date – Benefits and Community Services Fair

rlhiller — Mon, 18 Feb 2013 20:56:04 +0000

The annual Benefits and Community Services Fair is coming up on May 13, 2013 between 10am – 2pm. All employees and retirees are invited to attend and view what businesses have to offer in products and services. Businesses include healthcare vendors, retirement services, chiropractic, financial and many more. Mark it on your calendars now and look for more details soon!!

Important notice for those with a Health Equity HSA!

rlhiller — Tue, 29 Jan 2013 17:50:08 +0000

Health Equity HSA account holders can avoid a $1 per month paper statement fee by opting out of paper and agreeing to receive those statements through the online portal with Health Equity. All accounts are automatically set up with paper statements until you request electronic. In order to receive statements electronically and avoid the $1 fee, you can call Health Equity directly at 877-284-9840 or log into your HealthyBlue HSA online by going to the My Account tab. You can access the HSA portal directly through www.bcbsm.com

If you do receive the $1 fee, Health Equity has recommended employees to call member services and request a reimbursement of the $1 fees charged for previous months.

Benefits website to be updated!

rlhiller — Fri, 18 Jan 2013 19:22:08 +0000

The benefits office is currently in the process of updating the new 2013 medical pan information currently posted on the website. Please check back soon for the current 2013 information.

$75 Incentive for Wellness – don’t forget!!

rlhiller — Tue, 18 Dec 2012 19:22:06 +0000

Don’t forget that if you would like an extra $75 next year added to your choice of the HSA, healthcare FSA or TechFit, you have until December 31, 2012 to satisfy the 2 requirements. You will need to complete (or update) your Health Risk Assessment (HRA) through logging in at www.aetna.com AND have your annual physical done sometime in the 2012 calendar year.

Health Savings Account transfers

rlhiller — Mon, 10 Dec 2012 20:13:46 +0000

For those employees that chose the HuskyCare HDHP in 2013 and would like to transfer their HSA balance from Chase to Health Equity can do so by filling out the Healthy Blue HSA transfer form (located under the 2013 Open Enrollment link on the left). If you would like the Benefits office to handle the transfer, please send the completed form to Benefits office by December 31, 2012. If, at a later date, you would like to transfer the money, you would need to contact Chase directly.

Time is running out!!

rlhiller — Fri, 30 Nov 2012 21:40:00 +0000

Monday is the last day for benefits-eligible employees to make their selections for 2013. Be sure to log into your banweb and make your selections for 2013 by 11:59pm Monday, December 3. Click on the link 2013 Open Enrollment to the left to find out more information and to see an updated listing of FAQ’s.

One more week – open enrollment closes Dec 3, 2012

rlhiller — Mon, 26 Nov 2012 22:02:28 +0000

Time is running out to make your 2013 benefit choices. All benefit-eligible employees must choose their healthcare, dental and vision choices by logging into your Banweb account by 11:59pm December 3, 2012. For more information, please see the 2013 Open Enrollment link on the left hand side of the webpage. Information (including FAQ’s) is updated often.

Enrolling in Dental/Vision Plans for 2013

rlhiller — Fri, 16 Nov 2012 14:04:34 +0000

If you enroll in a dental and/or vision plan for 2013, or, if you switch between health plans (PPO and HDHP) you must link the coverage for you and your dependents by adding a begin date of 01/01/2013 if you are starting new coverage, or an end date of 12/31/2012 if you are ending coverage.

Follow the instructions in Banweb/Employees/Benefits & Deductions/Beneficiaries & Dependents or contact the Benefits office for guidance.

2013 Online Open Enrollment is Available

rlhiller — Mon, 12 Nov 2012 13:42:19 +0000

2013 Online Open Enrollment will be open to employees starting on Monday, November 12, 2012. Employees will have the chance to choose their benefit plans for 2013 up through Monday, December 3, 2012.

New Short-Term Disability Policy

rlhiller — Wed, 07 Nov 2012 18:50:29 +0000

Michigan Tech’s new short-term disability policy replaces the former sick leave pool. The new policy applies to all employees who are eligible for full benefits, and becomes effective on the first day of employment.

Eligibility:

Applies to employees eligible for full benefits
Coverage is effective on the first day of employment
Short-term Disability will run concurrent with the Family Medical Leave Act (FMLA)
Full benefits will continue during Short-term Disability (employee will still be responsible for their share of the cost of their benefits)
Can only receive Short-term Disability for time which an employee is normally paid (i.e. summer excluded)

Disability Plan Details:

Covers employees for an illness or injury (not work-related) if the employee is unable to earn more than 80% of their pre-disability earnings while receiving appropriate medical care and treatment
Waiting period will be 14 calendar days (elimination)
Policy will pay employees 70% of their Institutional Based Salary (IBS) up to a maximum of
$3000 per week up to a maximum of 26 weeks
Disability will be based on the physician’s date of disability and qualifications will be determined by a third party administrator
Taxability of Short-term Disability benefit: whether or not the employee shall pay taxes on the
70% benefit will be based on whether the employee has paid taxes on the value of their premium
Employees can use their own sick leave to compensate for the difference between payments received under the Short-term Disability policy and the employee’s regular wages up to a maximum of 24 hours per pay period (represents 30% effort)
An employee’s normal benefit deduction (i.e. medical, dental/vision, etc.) will not be paid through a payroll deduction. These deductions will be placed into arrears and paid once employee returns to work.

How to File a Short-term Disability Claim:

As soon as the employee knows their time off due to a non-work related injury/illness will extend past 14 calendar days, employees must apply for salary continuation under this policy. If the application for short-term disability is not received in a timely manner, any claimed sick time (after the short-term disability elimination period) will not be reimbursed.
The employee must contact the Benefit Services office to file a short-term disability claim.

Funding:

The associated cost for eligible persons on short-term disability will be covered by Michigan Tech’s retirement and insurance fund.

Short-Term Disability Policy Eligibility:

Applies to employees eligible for full benefits
Coverage is effective on the first day of employment
Short-term Disability will run concurrent with the Family Medical Leave Act (FMLA)
Full benefits will continue during Short-term Disability (employee will still beresponsible for their share of the cost of their benefits)
Can only receive Short-term Disability for time which an employee is normally paid (i.e. summer excluded)

Disability Plan Details:

Covers employees for an illness or injury (not work-related) if the employee is unableto earn more than 80% of their pre-disability earnings while receiving appropriatemedical care and treatment
Waiting period will be 14 calendar days (elimination)
Policy will pay employees 70% of their Institutional Based Salary (IBS) up to amaximum of
$3000 per week up to a maximum of 26 weeks
Disability will be based on the physician’s date of disability and qualifications will bedetermined by a third party administrator
Taxability of Short-term Disability benefit: whether or not the employee shall paytaxes on the
70% benefit will be based on whether the employee has paid taxes on the value oftheir premium
Employees can use their own sick leave to compensate for the difference betweenpayments received under the Short-term Disability policy and the employee’s regularwages up to a maximum of 24 hours per pay period (represents 30% effort)
An employee’s normal benefit deduction (i.e. medical, dental/vision, etc.) will notbe paid through a payroll deduction. These deductions will be placed into arrears andpaid once employee returns to work.

How to File a Short-term Disability Claim:

As soon as the employee knows their time off due to a non-work related injury/illness will extend past 14 calendar days, employees must apply for salary continuationunder this policy. If the application for short-term disability is not received in a timelymanner, any claimed sick time (after the short-term disability elimination period) willnot be reimbursed.
The employee must contact the Benefit Services office to file a short-term disability claim.

Funding:

The associated cost for eligible persons on short-term disability will be covered byMichigan Tech’s retirement and insurance fund.