Faculty Benefit Guide - Queens University of Charlotte

Faculty Benefit Guide
January 1, 2013 – December 31, 2013

MEDICAL INSURANCE
Benefits-eligible faculty and their spouse, domestic partner and/or children under age 26 are eligible for medical insurance on the first day of employment.
Below is a high-level summary for comparison purposes only and includes only information regarding services performed with in-network providers. A list of
in-network providers and offices can be located using the DocFind® tool (www.aetna.com) or through Human Resources. Detailed plan descriptions are
available through Human Resources.
In-network Benefits Open Access PPO Gold Open Access PPO Silver Healthfund (High Deductible)
Preventive Care Covered at 100%, deductible waived Covered at 100%, deductible waived Covered at 100%, deductible waived
Copayments
$20 primary care
$40 specialist
$150 emergency room
$30 primary care
$60 specialist
$150 emergency room
Not Applicable – You pay the full cost of
services until the deductible is met.
Annual Deductible
$750 per individual
$2,250 per family
$1,250 per individual
$3,750 per family
$2,000 with single coverage
$4,000 with family coverage
Once 3 individuals have met their
deductible, the family deductible is met
Once 3 individuals have met their
deductible, the family deductible is met
There is no individual deductible to
satisfy with a family plan.
Coinsurance
After deductible is met, the plan pays
80% of the cost of in-network services
After deductible is met, the plan pays
70% of the cost of in-network services
After deductible is met, the plan pays
90% of the cost of in-network services
Annual Out-of-Pocket
Maximum
$2,750 per individual
$8,250 per family
$4,250 per individual
$12,750 per family
$5,000 per individual
$10,000 per family
Prescriptions 30 day supply: $10 generic, $40
formulary, $60 non-formulary
31-90 day supply: $20 generic, $80
formulary, $120 non-formulary
30 day supply: $10 generic, $40
formulary, $60 non-formulary
31-90 day supply: $20 generic, $80
formulary, $120 non-formulary
Not Applicable – You pay the full cost of
prescriptions until the deductible is met.
Items on the Aetna Preventive Rx List
default to the PPO copayment structure.
Vision Care
1 annual eye exam, $200 reimbursable
every 24 months for glasses and
contacts
1 annual eye exam, $200 reimbursable
every 24 months for glasses and
contacts
1 annual eye exam, $200 reimbursable
every 24 months for glasses and
contacts
Monthly Premiums Open Access PPO Gold Open Access PPO Silver Healthfund (High Deductible)
Rate Type: Standard Wellness* Standard Wellness* Standard Wellness*
Employee Only $194 $134 $135 $75 $60 $0
Employee + Spouse/Domestic Partner $727 $667 $599 $539 $384 $324
Employee + Children $497 $437 $413 $353 $287 $227
Family Coverage $931 $871 $764 $704 $471 $411
WELLNESS INCENTIVE PROGRAM
At Queens, we care about the health & well-being of our employees and have a robust wellness program that includes a $60 medical premium reduction for
participants. The program is participation-based and designed to give you valuable information about your current health as well as help you develop a
workable plan to get healthier! *In order to qualify for the wellness premium, within 30 days of enrolling the employee must (1) complete an annual
personal health evaluation, (2) log the results in Aetna’s online Health Risk Assessment system, (3) review the results with the Nurse Practitioner in Queens’
employee Wellness Clinic. Then, you just follow up with additional appointments as recommended by the Nurse Practitioner to retain the discount.
Opt in online
when you pick
your medical
insurance plan
Recieve your
results &
complete a Health
Risk Assessment
at Aetna.com
Visit the Wellness
Clinic to discuss your
results & create a plan
Visit the Wellness
Clinic for a
Personal Health
Evaluation
Send your
confirmation page
to Human
Resources
Follow up throughout
the year with the
Wellness Clinic, as
prescribed
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DENTAL INSURANCE
Benefits-eligible faculty and their spouse, domestic partner and/or children under age 26 are eligible for dental insurance on the first day of employment.
In-Network Benefits
Annual Deductible
Coverage Maximum
Coinsurance
Preventive Care
Orthodontia
$50 per person
$1,500 per individual, per year
Plan pays 80% for basic services and 50% for major services, after deductible
Plan pays 100% including 2 exams, 2 cleanings and 2 bitewing x-rays per person/year
Up to $1,500 for children under age 20; no coverage for employee or spouse
Monthly Premiums
Employee Only $10.12
Employee + Spouse/Domestic Partner $45.44
Employee + Children $51.97
Family Coverage $78.68
HEALTH SAVINGS ACCOUNT (HSA)
All members electing the Healthfund high-deductible health plan for medical insurance will be automatically enrolled in a Health Savings Account (HSA) with
JPMorgan Chase. In 2013, Queens will contribute $40 per month (that’s up to $480.00 over the course of the year!) into each High-Deductible medical plan
participant’s HSA. Each participant can and is encouraged to contribute additional pre-tax funds (up to the limits outlined above) to this account to save for
future expenses or to offset the cost of prescriptions, office visits and other medical costs incurred. HSA funds never expire, earn tax-free interest, and can
be taken with you when you leave or retire.
FLEXIBLE SPENDING ACCOUNTS
In addition to the Health Savings Account, Queens offers two Section 125 flexible spending accounts (FSA’s) that allow use of pre-tax dollars to pay for
qualified healthcare and daycare expenses. These accounts require careful planning, as unused funds at the end of the benefit year are forfeited (“use it or
lose it”). Eligibility to participate in these accounts is determined by which medical insurance you enroll in; see Human Resources if you have questions.
Pre-Tax Account Medical Flexible Spending Account Dependent Care Spending Account Health Savings Account (HSA)
Contribution Maximum $2,500 $5,000
$3,250 (individual)
$6,450 (family)
+ $1,000 (if over age 55)
Queens Contribution None None $40 per month
Fee to Participate None None None
Funding Style Full balance available upfront Available as you contribute Available as you contribute
Year End Balance Forfeited if not used Forfeited if not used Rolls over
Eligibility Medical Flexible Spending Account Dependent Care Spending Account Health Savings Account (HSA)
Open-Access PPO Plans
Healthfund HDHP
No Medical Insurance
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GROUP LIFE INSURANCE
Benefits-eligible employees are covered on the first day of employment with 1.5x their base annual earnings in Basic Life Insurance and 1.5x their base
annual earnings in Accidental Death & Dismemberment (AD&D) Insurance, up to a maximum benefit of $400,000. Basic Life Insurance and AD&D premiums
are paid by Queens. Imputed income tax is charged to the employee for the value of this benefit over $50,000.
SUPPLEMENTAL LIFE INSURANCE
Additional employee life insurance may be purchased at group rates. Your cost (based on your age) is available online when you enroll. Voluntary
dependent life insurance is available amounting to $25,000 for a spouse or domestic partner and $10,000 for eligible children under age 26 at the rate of
$6.20 per month, per family unit.
LONG-TERM DISABILITY INSURANCE
Long Term Disability (LTD) provides partial income replacement in the event of a qualified disability from a non-work related injury or sickness for more than
90 days. The benefit replaces 60% of base annual salary up to $10,000 per month and may begin on the 91st day of the disability. Queens requires all active
benefits-eligible employees to participate in Queens’ LTD plan. The monthly rate is $.23 per $100 of covered monthly payroll.
RETIREMENT PLANS
Queens offers two retirement plans administered by TIAA-CREF. All faculty may contribute to a supplemental tax-deferred annuity plan upon employment.
After 12 months of continuous service*, benefits-eligible faculty may contribute to a defined contribution 403(b) retirement annuity at the rate of 2.5% of
base salary and receive a 7.5% employer match with full and immediate vesting.
Retirement Plans Supplemental 403(b) / TDA Plan Defined Contribution 403(b) / RA Plan
Eligibility Immediate After 12 months of service*
Employee Contribution Any amount up to federal annual limits 2.5% of eligible base salary
Employer Match No Match 7.5% of eligible base salary
Vesting Full & Immediate Full & Immediate (after 12 months of service)
*The waiting period may be waived with proof of prior employment at an institution that offers a 403(b) plan for the required service requirement. Queens’
Retirement Investment Committee monitors investment choices quarterly. Current investment choices include:
• TIAA Traditional
• TIAA Access Bonds Plus
• TIAA Access Large Cap
• TIAA Access Equity Index
• TIAA Access Growth & Income
• TIAA Access Social Choice
• TIAA Access Large Cap Growth
• TIAA Access Mid Cap Growth
• TIAA Access Mid Cap Value
• TIAA Access Small Cap Blend Index
• TIAA Access Small Cap Equity
• TIAA Access International Equity
• TIAA Access Real Estate Secs
• TIAA Access Lifecycle Retire
• TIAA Access Lifecycle 2010
• TIAA Access Lifecycle 2015
• TIAA Access Lifecycle 2020
• TIAA Access Lifecycle 2025
• TIAA Access Lifecycle 2030
• TIAA Access Lifecycle 2035
• TIAA Access Lifecycle 2040
• TIAA Access Lifecycle 2045
• TIAA Access Lifecycle 2050
• CREF Money Market
• CREF Bond Market
• CREF Inflation-Linked Bond
• CREF Social Choice
• CREF Equality Index
• CREF Stock
• CREF Growth
• CREF Global Equities
TUITION REMISSION AND EXCHANGE
Regular full-time employees, their spouse/domestic partner, and dependent children are eligible for tuition remission in Queens’ undergraduate or
continuing education programs. Graduate tuition remission is available for regular, full- and part-time employees, for selected programs. Tuition remission is
limited to 12 credit hours during the first year of employment and is unlimited thereafter. For part-time employees, the benefit is prorated and the
spouse/domestic partner/children of part-time employees are ineligible as outlined in the Employee Handbook.
Under tuition exchange agreements with Tuition Exchange, CIC-Tuition Exchange, the Association of Presbyterian Colleges and the NCICU Tuition Exchange,
children pursuing a first degree who are dependents of full-time employees of Queens may be eligible for tuition remission at participating colleges and
universities. This is not a guaranteed benefit and is based many variables, including Queens’ maintaining an import/export balance as well as acceptance
through tuition exchange at the receiving institution.
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WELLNESS CLINIC & PROGRAMS
Queens offers health insurance participants free*, voluntary, confidential, on-campus care. The Wellness Clinic may be used for annual personal health
evaluations, chronic condition management, medication management, personal action plans, health education, lifestyle coaching, and care for minor
medical conditions. The clinic is staffed by a nurse practitioner, who is licensed to perform many of the tasks required for routine care, and is open on
Monday afternoons and Thursday mornings. *Healthfund High Deductible Health Plan members pay a $5 copay for episodic care, per IRS regulations.
EMPLOYEE ASSISTANCE PROGRAM
Queens recognizes that from time to time everyone experiences stress or challenges, which may include emotional problems, family problems, alcohol or
drug problems, financial problems, or other problems. Queens provides employees and dependents access to free, confidential counseling sessions with
professional counselors through our Employee Assistance Program (EAP).
CAMPUS DISCOUNTS
Queens' employees are eligible for reduced-cost meals at Morrison Dining Hall, a discount in the campus book store, and free admission to Queens Athletics
events. Present your Queens ID card for any available discounts. Employees are eligible to use campus facilities, including the Everett Library, University
Bookstore, Young Dining Hall, and the soon-to-open Levine Center. Consult each facility regarding applicable fees, rules, and regulations.
COMMUNITY DISCOUNTS
Queens' employees enjoy numerous discounts in the Charlotte area, from restaurants to home care, to fitness centers and reduced cost entertainment
tickets. Queens maintains a list of current community partners on the myQueens intranet site. Most only require you show your Queens staff ID to take
advantage of reduced rates.
Additionally, Queens employees are eligible to join Truliant Federal Credit Union, join the Cornwell Fitness Center at Myers Park Baptist Church at member
rates, and use of the five-star Presbyterian Hospital Daycare Center at a reduced rate.
NOTES
The information in this Benefit Guide is presented for illustrative purposes. The text contained in this guide was taken from various summary plan descriptions
& benefit documents. While every effort was made to accurately describe benefits, discrepancies & errors are possible. In case of discrepancy between this
Benefit Guide and the plan documents or Employee Handbook, the plan documents and Employee Handbook will prevail. All information is confidential,
pursuant to the Health Insurance Portability and Accountability Act of 1996. The Queens employee benefit offerings are evaluated annually. Employee costsharing,
benefit eligibility and the availability of specific benefits are subject to change at any time.
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