New EPA Employee Benefits Presentation - North Carolina A&T ...

Welcome to NC A&T State UniversityNew Hire Benefits OrientationThe information contained in this presentation is not a contract and is subject to change by the proper authorities.It should be understood that explanations in this summary cannot alter, modify or otherwise change thecontrolling legal documents or general statutes in any way, nor can any right by reason of any inclusion oromission of any statement in this presentation.

2Who is Eligible for Benefits?• Permanent (non-temporary) part-time EPA employeesworking 20 – 29 hours per week are eligible for manybenefit programs, typically without employer contributions• Permanent (non-temporary) part-time EPA employeesworking 30 to 39 hours per week or Permanent full-timeEPA employees working 40 hours per week are consideredto be benefits eligible

3Payroll Information• All permanent employees (EPA and SPA) are paid monthly onthe last working day of the month.• All nine month faculty members are paid over twelve (12) monthsbeginning July and ending June 30 of each year.• New nine month faculty beginning at the start of the fall semesterwill receive two months (2/12) of salary in August.• Twelve month faculty are paid on a monthly basis.• New twelve month faculty members beginning at the start of thefall semester will be paid for a pro-rated amount for the month ofAugust.

4Payroll InformationDirect Deposit (Mandatory Participation)As a University employee, your paycheck must be directlydeposited into your financial institution (bank or credit union).Electronic Direct Deposit Notification (or Depnote)Each employee receives their direct deposit notification viaan e-mail with “Depnote” in the subject line. In order toaccess your electronic direct deposit notification:• Open the email entitled “Depnote”• When prompted for a password, enter the first four lettersof your last name and then the last four digits of your socialsecurity number (Ex: jone9999)

Health Benefits

6Health Benefits• State Health Plan of NC – administered by Blue Cross andBlue Shield of North Carolina (BCBSNC)• Use may use any medical provider you choose– In Network Providers: Out of pocket expenses are lowerwhen you use a doctor, hospital or other provider from theBCBSNC Blue Options network.– Out of Network Providers: For all other providers,deductibles, coinsurance and copays may be higher• Choose from two plan options:– Basic 70/30 Plan• Lower premiums and coverage levels– Standard 80/20 Plan• Higher premiums and coverage levels

7Basic 70/30 Plan: HighlightsHow Plan Coverage WorksPLAN DESIGN FEATURE IN NETWORK OUT OF NETWORKAnnual Deductible(Single/Family)Coinsurance$933 / $2,799 $1,866 / $5,598You pay 30% afterdeductiblePreventive Care • Office visit: $35• Specialist visit: $81Office visits (non-preventive) • Office visit: $35• Specialist visit: $81Inpatient CareEmergency RoomYou pay 30% afterdeductible and $291 copayYou pay 30% afterdeductible and $291 copayYou pay 50% after deductible,plus difference betweencharge and allowed amountNot coveredYou pay 50% after deductible,plus difference betweencharge and allowed amountYou pay 50% after deductibleand $291 copayYou pay 30% after deductibleand $291 copay

8Standard 80/20 Plan: HighlightsHow Plan Coverage WorksPLAN DESIGN FEATURE IN NETWORK OUT OF NETWORKAnnual Deductible(Single/Family)Coinsurance$700 / $2,100 $1,400 / $4,200You pay 20% afterdeductiblePreventive Care • Office visit: $30• Specialist visit: $70Office visits (non-preventive) • Office visit: $30• Specialist visit: $70Inpatient CareEmergency RoomYou pay 20% afterdeductible and $233 copayYou pay 20% afterdeductible and $233 copayYou pay 40% after deductible,plus difference betweencharge and allowed amountNot coveredYou pay 40% after deductible,plus difference betweencharge and allowed amountYou pay 40% after deductibleand $233 copayYou pay 20% after deductibleand $233 copay

9Both PPO Plans – More Details• Prescription coverage provided by Medco:– Generic: $12 co-pay, up to 30-day supply– Preferred Brand-name: $40 co-pay, up to 30-day supply– Non-preferred Brand-name: $64 co-pay, up to 30-day supply– Specialty: 25% coinsurance up to $100, 30-day supply• NC HealthSmart: voluntary program offering tools andresources to help you live a healthier life such as:– Member Focus newsletter– Information on the 24-hour nurse line– The Stork Rewards program– Eat Smart, Move More, Weigh Less program• Sign up for the State Health Plan Member Newsletter atwww.shpnc.org

10Monthly Rates for Health CoverageMedical CoveragePLANEMPLOYEEONLYEMPLOYEE+ CHILDRENEMPLOYEE+ SPOUSEEMPLOYEE+ FAMILYBasic PPO $0.00 $198.06 $510.32 $543.54Standard PPO $22.76 $286.16 $629.64 $666.18

NCFlex Health & OtherInsurance Programs

12NCFlex Health & Other Insurance Programs• These voluntary programs provide a variety of plans tomeet the needs of you and your family• You pay the full cost of coverage through payrolldeductions on a pre-tax basis• Insurance programs include:– Dental– Vision– Health Care Flexible Spending Account– Dependent Day Care Flexible Spending Account– Cancer– Critical Illness– Group Term Life Insurance– Core and Voluntary Accidental Death & DismembermentInsurance

13NC Flex Dental Coverage• Coverage provided through United Concordia• Choose from two plan options:– High Option: Includes orthodontia for children under 19– Low Option: Does not include orthodontia• Under both options:– Visit any provider– You are responsible for deductibles– You or your dentist may file claims– You may be subject to a waiting period before certainbenefits are payable under the plan (see “Benefit WaitingPeriod” chart under Dental coverage on NCFlex website)

14NC Flex Dental CoverageHow Plan Coverage Works under Each OptionPLAN DESIGN FEATURE HIGH OPTION LOW OPTIONAnnual Deductible $50 person / $150 family $25 person / $75 familyPreventive/DiagnosticServices• Exams, cleanings, X-rays, etc.Basic Services• Fillings, extractions, endodontics,periodonticsMajor Services• Crowns, inlays, dentures, bridgesMaximum Annual BenefitOrthodontia for dependentchildren under age 19Plan pays 100%, nodeductible• Most services: You pay20% after deductible• Periodontic: You pay 50%after deductibleYou pay 50% after deductible$1,250 per person (excludingorthodontia)Plan pays 50% up to $1,500lifetime benefit per personPlan pays 100% afterdeductible• Fillings and extractions: Youpay 50% after deductible• Periodontic and otherservices: You pay 50% afterdeductibleNot covered$1,000 per personNot covered

15Monthly Rates for NC Flex Dental CoverageDental CoveragePLANEMPLOYEEONLYEMPLOYEE+ SPOUSEEMPLOYEE+ ONE CHILDEMPLOYEE+ TWO OR MORECHILDRENFAMILYHigh Option $37.40 $75.00 $71.96 $90.96 $132.42Low Option $21.34 $43.04 $41.30 $52.62 $73.68

Ameritas Dental(Post-Tax)16• After-Tax Plan• $2,000 Calendar Year Maximum on Preventive, Basicand Major Dental Services• Preventive Dental Services Paid at 100%• Basic Dental Services Paid at 80%• Major Dental Services Paid at 50% with a $750Calendar Year Maximum

Ameritas Dental Rates(Post-Tax)17Employee Only $32.44Employee/Spouse $63.80Employee/Children $60.20Employee/Family $91.56

18NC Flex Vision Coverage• Coverage provided through Superior Vision Services (SVS)• Choose from three coverage options:– Exam and Materials– Materials Only– Enhanced Exam and Materials• Under all options, visit any provider but lower expenseswith SVS in-network provider

NC Flex Vision Coverage: Exam and MaterialsPlan and Enhanced Exam and Materials Plan19How Plan Coverage WorksPLAN DESIGN FEATURE IN NETWORK OUT OF NETWORKRoutine Eye Exam Plan pays 100% after $20copayFrames – once every 12monthsPlan pays up to $100 ($150for Enhanced Plan); 20%discount on coveragesPlan pays up to $44 forophthalmologist; up to $39for optometristPlan pays up to $50 ($81 forEnhanced Plan)Lenses Plan pays 100% Plan pays up to:• Single vision: $34• Bifocal: $48• Trifocal: $64• Lenticular: $88Contact Lenses (elective) Plan pays up to $120 ($150for Enhanced Plan)Plan pays up to $100Contact Lenses (necessary) Plan pays 100% Plan pays up to $210

NC Flex Vision Coverage:Materials Only Plan20How Plan Coverage WorksPLAN DESIGN FEATURE IN NETWORK OUT OF NETWORKRoutine Eye Exam Not covered Not coveredFrames – once every 24monthsPlan pays up to $100; 20%discount on coveragesPlan pays up to $50Lenses Plan pays 100% Plan pays up to:• Single vision: $34• Bifocal: $48• Trifocal: $64• Lenticular: $88Contact Lenses (elective) Plan pays up to $120 Plan pays up to $100Contact Lenses (necessary) Plan pays 100% Plan pays up to $210

22NC Flex Health Care Flexible Spending Account• Coverage provided through P&A Group• Set aside money through pre-tax contributions to pay foreligible out-of-pocket medical, dental and vision expenses:– Deductibles– Co-pays and coinsurance– Out-of-network expenses– Uncovered procedures• Contribute from $120 to $5,000 per year• Convenience card (debit card) for all participants• “Use it or lose it” rule; you forfeit any unused contributions– Expenses can be incurred between January 1, 2012 andMarch 15, 2013, provided you remain actively employed forall of 2012. Prior year claims must be submitted by April 30,2013.

NC Flex Dependent Day CareFlexible Spending Account23• Set aside money through pre-tax contributions to payeligible child care and adult day care expenses so you (andyour spouse) can work or attend school full-time:– Care of dependent children under age 13– Care of dependent adult who lives with you at least 8 hrs/day• You may contribute from $120 to $5,000 per year• “Use it or lose it” rule: you forfeit any unused contributions– Expenses can be incurred between January 1, 2012 andMarch 15, 2013, provided you remain actively employed forall of 2012. Prior year claims must be submitted by April 30,2013.

24Other NCFlex Health Programs• Cancer Insurance provided through American HeritageLife: pays benefits for cancer-related expenses– Employee Only or Employee + Family Coverage– Low, High and Premium options• Critical Illness Insurance provided through Met Life: payslump sum benefit in event of certain health conditions– Employee, Spouse, Children or Family Coverage– Three categories of coverage available

Monthly Rates forNC Flex Cancer Coverage25Cancer InsurancePLAN EMPLOYEE ONLY EMPLOYEE + FAMILYLow Option $6.78 $11.26High Option $15.68 $26.06Premium Option $21.64 $35.96

Monthly Rates forNC Flex Critical Illness Coverage26Critical Illness CoverageAGE EMPLOYEE SPOUSELess than 25 $1.50 $1.5025-29 $1.80 $1.8030-34 $2.84 $2.8435-39 $5.10 $5.1040-44 $9.14 $9.1445-49 $16.04 $16.0450-54 $25.80 $25.8055-59 $40.34 $40.3460-64 $61.20 $61.2065-69 $93.14 $93.1470-74 $134.84 $134.8475-79 $190.94 $190.9480-84 $239.70 $239.7085 and older $257.54 $257.54Employees may also cover eligible dependent children. Employee will pay one flat rate ($0.92)no matter how many children are covered.

NC Flex Voluntary Group Term LifeInsurance27• Group Term Life provided through ING: coverage in$10,000 increments, from $20,000 to $500,000 (limited tofive times your base annual earnings)• Coverage over $100,000 subject to Evidence of Insurability(EOI)• Coverage available for yourself only

Monthly Rates for NC Flex Life InsuranceCoverage28Voluntary Group Term Life InsuranceYOUR AGERATE PER $1,000 OF COVERAGEUnder 24 $0.04925-29 $0.05930-34 $0.07935-39 $0.08940-44 $0.13945-49 $0.19850-54 $0.33755-59 $0.56460-64 $0.84065-69 $1.73070-74 $2.520

Life Insurance(Post-Tax)The following companies offer post-tax lifeinsurance:• Cigna – Term Life Insurance with a maximumbenefit of $20,000• Colonial Life and Accident Insurance –provides life insurance, sickness, accident andcancer coverage• SEANC (State Employees Association of NC)29

30Cigna Life Insurance RatesLife Insurance AD&D Employee Only Employee/Dep(s)Amount Amount Rate Rate$20,000 $20,000 $16.40 $17.51

NC Flex Accidental Death &Dismemberment (AD&D) Insurance31• Core Accidental Death and Dismemberment (AD&D)Insurance provided through A.C. Newman– Elect coverage of $10,000 for yourself only– University pays full cost of coverage; however, you mustenroll for coverage– Payment to your beneficiaries in case of your accidentaldeath– Payment to you in case of your accidental dismemberment• Voluntary AD&D Insurance provided through A.C. Newman– Elect coverage up to $500,000 for you and your family

Monthly Rates for NC Flex AD&DInsurance32Accidental Death & Dismemberment (AD&D) Insurance (Examples)BENEFIT AMOUNT EMPLOYEE ONLY COVERAGE EMPLOYEE + FAMILY COVERAGE$50,000 $0.96 $1.50$75,000 $1.42 $2.26$100,000 $1.90 $3.00$125,000 $2.38 $3.74$150,000 $2.86 $4.50$175,000 $3.32 $5.26$200,000 $3.80 $6.00$250,000 $4.76 $7.50$300,000 $5.70 $9.00$350,000 $6.64 $10.50$400,000 $7.60 $12.00$500,000 $9.50 $15.00

Income Protection Programs

34Income Protection Programs• Programs designed to provide you and/or your family withfinancial protection in the event of your death, disability orlong-term illness• Some are offered at no cost to you; others require you topay for coverage

35Disability Plans• Disability coverage provided under the Disability IncomePlan of North Carolina (DIP-NC)• Short-Term Disability– Provided to eligible employees at no cost• After one year of contributing membership to TSERS orparticipation in the ORP.– Pays 50% of base compensation up to $3,000/month– Payable up to 365 days, after 60-day waiting period• Long-Term Disability– Provided to eligible employees at no cost• After five years of contributing membership to TSERS orparticipation in ORP– Pays 65% of base compensation up to $3,900/month– Payable as long as you remain permanently disabled, untileligibility for unreduced service retirement

36Supplemental Disability Plans• Can help fill gaps in State coverage– Replacement income while you are ineligible for stateShort-Term Disability Plan– Waiting period: 90 days– Pays 66-2/3% of gross monthly salary up to $10,000• Voluntary benefit; you pay full cost of coverage after-tax• Coverage through The Standard if you elect ORP– Includes continuing ORP contributions into your ORPaccount on your behalf• Coverage through Liberty Mutual if you elect TSERS

Retirement Programs

38Retirement Programs• Participation in a retirement program is mandatory• You may choose between:– The North Carolina Teachers' and State Employees'Retirement System (TSERS), a defined benefit plan or– the UNC Optional Retirement Program (ORP), a definedcontribution plan• You must make your election between TSERS and ORPwithin 60 days of your date of hire• Once you make the choice it cannot be changed; it isirrevocable

39TSERS Plan Highlights• Defined benefit plan• State controls the investment• Benefit you receive is based on a formula (factors includeyour age, your average final compensation and youryears/months of creditable service)• You must contribute 6% of your pay on pre-tax basis• The University contribution is determined by the GeneralAssembly. The current percentage is 8.33%

40ORP Plan Highlights• Defined contribution plan• You control your investments• The benefit you receive at retirement is based oninvestment performance and the payment option chosen• Program serves as an alternate option to TSERS forcertain faculty and EPA non-faculty and other employeesas approved by the UNC Board of Governors

41ORP Plan Highlights• You must contribute a 6% of your pay on a pre-tax basis• The University contributes 6.84%• Choose from four investment providers– Fidelity Investments– Lincoln Financial Group– TIAA-CREF– VALIC

42Supplemental Retirement Plans• Allows you to save money on a pre-tax basis towards yourretirement in addition to the 6% you contribute to TSERS or theORP• Three types of plans are available:– 403(b) plan administered by two different vendors, Fidelity andTIAA-CREF, and sponsored by the University– A 401(k) plan administered through Prudential and sponsoredby the State of North Carolina– A 457 plan administered through Prudential and sponsored bythe State of North Carolina• You may elect to enroll, change the amount of contributions, orstop your participation at any time• You may elect to participate in all three supplemental retirementplans at the same time, however there are limits to the amountyou can contribute

Enrolling in Your Benefits

44When Coverage Becomes EffectiveCoverage Effective DatesPLAN NAMEHealth BenefitsNCFlex BenefitsShort-Term DisabilityLong-Term DisabilitySupplemental Disability PlanTSERSORPSupplemental Retirement PlansCOVERAGE EFFECTIVEFirst of the month or first of thesecond month followingemployment dateFirst of the month followingemployment dateAfter one year of contributingmembership to TSERS or ORPAfter five years of contributingmembership to TSERS or ORPEmployment dateEmployment dateEmployment dateMay enroll at anytime

45Enrollment for Health Benefits• Must enroll within 30 days of your employment date• To enroll, follow the instructions in the EmployeeInstructions for Completing Your Benefit Enrollment• North Carolina A&T’s dedicated enrollment site:– https://ncat.hrintouch.com• Health insurance premiums are paid one month in advanceof coverage– Example: January premiums pay for February coverage• No pre-existing condition exclusion or waiting periods if youenroll when first eligible

46Enrollment for NCFlex Programs• To enroll, visit the NCFlex Enrollment Website:– http://www.ncflexonline.org• All employees must complete online enrollment within 30days of their employment date or wait until the next annualopen enrollment period– Waiting periods may apply– Employees may also enroll with a qualifying event

Enrollment for Income ProtectionPrograms47• All employees must complete online enrollment within 60days of their employment date• If your core retirement choice is the ORP:– Enroll for Supplemental Disability Insurance (after-tax)through The Standard by completing the enrollment formslocated online at:• www.standard.com/eforms/4781.pdf• If your core retirement choice is TSERS:– Enroll for Supplemental Disability Insurance (after-tax)through Liberty Mutual by completing the enrollment formslocated online at:• www.northcarolina.edu/hr/Liberty_Mutual_LTD_Enrollment_andChange_Form.pdf

48Enrollment in TSERS• You do not need to complete an enrollment form forTSERS in order to enroll (enrollment is automatic)• However, you must designate a beneficiary (or benficiaries)by completing the following forms:– Form 2DB - Designating Beneficiary(ies) for the DeathBenefit– Form 2RC - Designating Beneficiary(ies) for The RetirementSystem Return of Contributions– These two forms are available online at:https://orbit.myncretirement.com/Orbit/Info/Pages/ListAllForms.aspx?formCat=F3BENDESG

49Enrollment in the ORP• To enroll in the ORP, you must complete the followingforms:– Form ORP-1 The University of North Carolina OptionalRetirement Program (ORP) Election And ForfeitureAgreement– ORP Carrier Enrollment Application (Complete the ORPCarrier form(s) for the carrier you want for your contributionsand the University contributions.)– These forms are available online at:• www.northcarolina.edu/hr/ORP1.pdf– Follow the instructions provided by your campus HumanResources/Benefits Office for instructions on where to returncompleted forms• If you do not enroll in the ORP within 60 days of your dateof hire, you will be automatically enrolled in TSERS

50ORP Enrollment LinksFidelity:http://plan.fidelity.com/uncLincoln Financial:https://www.lfg.com/LincolnPageServer?LFGPage=/lfg/emunc/hme/hmerp/index.htmlTIAA-CREF:http://enroll.tiaa-cref.org/uncorp/VALIC:http://www.valic.com/Home_201_28559.html

Enrollment in theSupplemental Retirement Plans51• 403(b) Plan– Visit:• www.northcarolina.edu/hr/ga/benefits/retirement/Suppmtl-Ret/403bMain.htm– Complete a Salary Reduction Agreement (form andinstructions available on the website)– Enroll in the Plan with Fidelity and/or TIAA-CREF• 457 Plan– Visit:• www.retirement.prudential.com/cws/ncplans– Complete an NC 457 Deferred Compensation Plan EnrollmentForm (forms and instructions available on the website) andsend to:• NC Plans Processing Center, PO Box 5340, Scranton, PA 18505,or fax to 1-866-439-8602

Enrollment in theSupplemental Retirement Plans52• State 401(k) Plan– Visit:• www.retirement.prudential.com/cws/ncplans– Complete an NC 401(k) Plan Enrollment Form (forms andinstructions available on the website) and send to:• NC Plans Processing Center,PO Box 5340Scranton, PA 18505,or fax to 1-866-439-8602

53For More Information• For additional information and details about available Universitybenefit programs:– North Carolina A&T State University Benefits Website:http://www.ncat.edu/hr/benefits– UNC General Administration Benefits Website:www.northcarolina.edu/hr/unc/benefits/index.htm– North Carolina A&T Benefits Office Contacts:Name Title E-mail PhoneNanita Cole Benefits Manager nanitac@ncat.edu (336) 285-3788Ester Jones Benefits Counselor kamarae@ncat.edu (336) 285-3787Jeanette Foulks Benefits Counselor jffoulks@ncat.edu (336) 285-3793Delois Frost Leave Administrator dfrost@ncat.edu (336) 285-3790Phyllis Thomas Receptionist pathoma3@ncat.edu (336) 285-3789