Voluntary Group Term Life Insurance
Faculty/Administrative Benefits
Medical, Prescription Drug & Dental Insurance
CONCERN - Confidential Employee Assistance Program
Open Enrollment for 2008 Benefits
It's Open Enrollment time! The Open Enrollment period begins Friday, November 2, 2007, and ends Friday, November 16, 2007. All changes made during this time will be effective January 1, 2008.
Open enrollment memos will be mailed to all faculty and staff members on November 2, 2007.
An Open Enrollment and Benefit Awareness Fair will be held on Thursday, November 8, 2007, from 9:00 AM to 3:30 PM, in the University Center Carter Hall. Anthem Insurance Companies, Inc.; Welborn Health Plans; Health Resources, Inc.; The Nyhart Company (flexible spending account administrator); Standard Insurance (long-term disability); Deaconess Concern (EAP); Prudential Life Insurance (basic and supplemental life); and TIAA CREF will be in attendance. PERF and Spectera will be unable to attend, but will have materials available for you. The vendors will be available to address any questions and/or concerns you may have. Please stop by to learn about 2008 benefit options and register for some door prizes. Click here for a schedule of vendor presentations.
Group meetings are also being offered on November 9. Refer to the schedule in the open enrollment memo for more details.
Medical, Prescription Drug & Dental Insurance - Employees have the opportunity to evaluate their health insurance needs and make changes in coverage.
Flexible Spending Account - Employees may renew their annual elections or enroll for the first time. This plan allows for the payment of eligible medical/dental expenses and dependent care expenses on a pre-tax basis. The result is a lowering of an employee's taxable income and tax liability for federal, state, and local income taxes and FICA (Social Security and Medicare) taxes. Employees who choose to participate in the spending accounts will need to re-enroll each calendar year. The University has adopted the grace period as allowed under IRS notice 2005-42. Adopting the grace period will allow employees to use 2008 funds remaining in their flexible spending accounts at the calendar year end for purchases through March 15, 2009. The grace period will only apply to the unreimbursed medical and dental expenses. The dependent care flexible spending account will still need to be exhausted in calendar year 2008.
Voluntary Group Term Life Insurance - Employees may purchase additional term life insurance at low group rates on a payroll deduction basis for themselves, their spouses, and/or dependent children. Employees may purchase up to $500,000 or five times annual earnings, whichever is less. The life insurance program is offered by Prudential Life Insurance Company. Please note that this insurance plan is voluntary and is offered as a supplement to University-provided life insurance.
Optional Vision Coverage - Employees have the option to elect optional vision coverage through a pre-tax payroll deduction with Spectera as the provider. The plan covers annual exams (after co-payment), lenses, frames, contact lenses, and a one-time discount on laser vision correction services. It also allows employee choice of facility/provider both within and and outside the network; retail and private practices are included. Please note that it is not necessary to participate in the University medical insurance plan to enroll in the optional vision plan.
Forms may be picked up at the Human Resources Office, the Open Enrollment and Benefits Awareness Fair, or some of the forms are available within the appropriate links to the left.
If you have any questions about your health/dental
insurance plans, the flexible benefit spending accounts, voluntary group
term life insurance, or open enrollment, please contact the Human
Resources Department at 464-1781 or 461-5466 or 464-1988.
The University of Southern Indiana is an equal employment opportunity/affirmative action employer. It is the policy of the University of Southern Indiana to be in full compliance with all federal and state non-discrimination and equal opportunity laws, orders and regulations relating to race, sex, religion, disability, age, national origin, sexual orientation or status as a disabled veteran or veteran of the Vietnam era. Questions or concerns should be directed to the Affirmative Action Officer, USI Human Resources Department, 8600 University Boulevard, Evansville, IN 47712.
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