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EMPLOYEE INSURANCE BENEFITS

 

POLICY:II-4-17

DATE OF ADOPTION: June 22, 2000

REVISION DATE(S): October 25, 2012 , March 24, 2016,  September 6, 2018 

LEGAL REFERENCE:  

 

Health/Dental Insurance

The College will make a defined contribution each month towards full-time employees’ single membership health and dental premiums.  The College will strive to maintain a contribution equal to at least one plan option for health insurance and one plan option for dental insurance, as offered to all full-time employees.  The contribution rate will be determined annually, with any changes effective at the beginning of the next benefits plan year.  If the contribution from the College is greater than the cost of insurance for the health and dental plans chosen by the full-time employee, the full-time employee may use the remaining portion of the contribution to pay for other insurances available to the full-time employee under IRC Section 125, or make contributions to the full-time employee’s Health Savings Account, if available.  If the full-time employee chooses to pay for no other IRC Section 125 eligible benefits, does not contribute to an employee Health Savings Account, or the total is less than the College contribution, the remaining portion of the College contribution will be contributed to the full-time employee’s IRC 403(b) plan.  Other employees, less than full-time, who may be eligible for or offered health and/or dental insurance, will receive an insurance contribution equal to the premium for the plan selected or the contribution amount the College makes to full-time employees, whichever is lower.

 

Health/Dental Insurance Waiver Option

 

All full-time employees beginning full-time employment prior to January 1, 2019, and who have duplicate group health and/or dental insurance through a spouse or other responsible parties, may choose to contribute an amount equivalent to the lowest available single plan option premium for both health and dental, to their IRC 403 (B) Plan in lieu of health and dental benefits.

 

All full-time employees beginning full-time employment on or after January 1, 2019, and who have duplicate group health and/or dental insurance through a spouse or other responsible parties, may choose to contribute $150 per month to their IRC 403 (B) Plan in lieu of health and dental benefits.

 

For purposes of this waiver option, “other responsible parties” does not include individual health and/or dental insurance purchased by the employee from marketplace sources.

 

Life Insurance

 

The College provides a life insurance policy equal to the highest thousand-dollar amount of twice the annual salary for each full-time employee.