2012 Benefit Enrollment Guide - Education Management Corporation
2012 Benefit Enrollment Guide - Education Management Corporation
2012 Benefit Enrollment Guide - Education Management Corporation
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Life Insurance<br />
Life and accident insurance provide important financial protection in the event you die or<br />
become dismembered while an employee of EDMC. When considering life insurance,<br />
it’s important to give some serious thought to what expenses and income needs your<br />
family would have if something happened to you.<br />
1-866-502-8883<br />
www.mylibertyconnection.com<br />
Claimant services ID: EDMCDIS<br />
PIN: Your Social Security number<br />
To make sure you have the protection you need, EDMC offers:<br />
• Basic life insurance for full-time and part-time* employees<br />
at no cost<br />
• Accidental death and dismemberment (AD&D) insurance<br />
to full-time and part-time* employees at no cost<br />
• Additional life insurance for full-time employees needing<br />
supplemental coverage<br />
• Spouse and child life insurance options for full-time employees<br />
Basic Life and AD&D<br />
EDMC automatically provides basic life and accidental death<br />
and dismemberment (AD&D) insurance through Liberty Mutual ®<br />
to all full-time and part-time* employees. These benefits<br />
are company paid. That means you don’t have to make<br />
contributions to receive them.<br />
Full-time employees<br />
• Basic life = 2X annual salary**<br />
(rounded to the next highest thousand, up to $500,000)<br />
• Basic AD&D = 2X annual salary**<br />
(rounded to the next highest thousand, up to $500,000)<br />
Part-time* employees<br />
• Basic life = $25,000<br />
• Basic AD&D = $25,000<br />
A note about imputed income<br />
The total value of your basic life insurance that exceeds $50,000<br />
is considered imputed income and is taxable to you. The income<br />
is imputed on the cost of the life insurance, not the coverage<br />
amount. You pay taxes on imputed income just as though it<br />
were part of your regular paycheck. Imputed income is added to<br />
your total annual compensation reported to the IRS and appears<br />
on your W-2 statement.<br />
*Part-time employees with hire dates prior to December 1, 2011 will retain<br />
benefits eligibility in a grandfathered status through December 31, 2013.<br />
Part-time employees hired on or after December 1, 2011 are eligible for the<br />
employee assistance program and the 401(k) plan only.<br />
**Annual salary is defined as current base salary plus any bonus paid the<br />
previous calendar year.<br />
Questions? Contact HR One Connect at 1.888.471.3362 (1.888.HR1.EDMC).<br />
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