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: Take it with you if you leave the company<br />
Your basic and/or additional life insurance coverage ends when<br />
your employment ends. However, you will be eligible for a<br />
portability option to continue your coverage and pay your<br />
premiums directly to Liberty Mutual.<br />
To qualify for the portability option, you must:<br />
• Be under age 75<br />
• Be a citizen or resident of the United States or Canada<br />
• Not be a full-time member of the armed forces of any country<br />
• Elect the portable life insurance option and not the conversion<br />
option (converting to a personal policy as opposed to the<br />
same group policy)<br />
<strong>Guide</strong>lines for the portability option:<br />
• Waiver of premium does not apply.<br />
• Accelerated death benefit does not apply.<br />
• AD&D coverage is not portable.<br />
• You must elect the portability option within 31 days of the<br />
date your participation in the plan ends. Contact HR One<br />
Connect for the appropriate paperwork at 1-888-471-3362<br />
(1-888-HR1-EDMC).<br />
• Ported coverage begins after the paperwork is completed<br />
and received by Liberty Mutual.<br />
• Ported coverage ends at age 75.<br />
• You pay the premiums directly to Liberty Mutual.<br />
• Portability life insurance coverage will remain in effect as long<br />
as EDMC’s policy for life insurance coverage continues with<br />
Liberty Mutual.<br />
• When ported coverage terminates, you have the right to<br />
convert coverage to a personal policy.<br />
• In addition to the portability option, terminated employees<br />
also have the option to convert life insurance to a personal<br />
policy. Contact HR One Connect for the appropriate<br />
paperwork at 1-888-471-3362 (1-888-HR1-EDMC).<br />
Dependent Spouse Life Insurance<br />
Full-time employees may purchase dependent spouse life<br />
insurance for their eligible spouses. Domestic partners are<br />
not eligible for this benefit.<br />
Choose from:<br />
Option 1.… Coverage in $10,000 Increments<br />
to a Maximum of $100,000<br />
Option 2…. Waive Coverage<br />
Spousal coverage is limited to 50% of the employee’s<br />
total life insurance coverage, which includes both basic and<br />
additional life. For example, if the employee has a total coverage<br />
amount of $160,000, the spouse’s coverage cannot be more<br />
than $80,000.<br />
If you and your spouse are both employed by EDMC,<br />
neither of you are eligible for dependent spouse life insurance<br />
coverage. That’s because you both qualify for the employee<br />
life insurance coverage.<br />
You, the employee, are automatically listed as the beneficiary of<br />
dependent spouse life insurance. You are responsible for the full<br />
payment of the premium. Your premium will be deducted from<br />
your paycheck on an after-tax basis.<br />
Questions? Contact HR One Connect at 1.888.471.3362 (1.888.HR1.EDMC).<br />
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