Faculty and staff who want to enroll in the Expanded Long-Term Disability (LTD) plan or increase their coverage level can do so during this year’s Open Enrollment (Oct. 28-Nov. 8) without having to provide a health statement of insurability.
LTD usually is not included in Open Enrollment and eligible faculty and staff can enroll at any time with approval based on a statement of good health. Because of enhancements to the Expanded LTD plan, the university is offering this one-time opportunity.
An extremely important plan, LTD provides up to 65 percent income replacement on covered base salary and benefits continuation if a faculty or staff member becomes totally disabled and can no longer work.
The plan will be enhanced in 2014 with:
• Increased university-paid coverage for income replacement (from $30,000 to $57,500).
• A shorter waiting period for new faculty and staff to receive university contributions (two years instead of four).
• Lower contributions for those who elect additional coverage up to their full salary when their salary exceeds $30,000.
• A change in retirement savings contributions for disabled employees (15 percent up to $57,500). Faculty and staff who earn more than $57,500 will need to elect additional LTD coverage to receive a contribution equal to 15 percent of their full salary.
Plan details are available on the Benefits Office website at: benefits.umich.edu/plans/ltd/newxltd.html
In addition to the LTD enhancements, the following benefits changes go into effect in 2014.
Medical: No co-pays will be charged for preventive care. Primary care office visits and urgent care visits will be $25, specialty care office visits will be $30 and emergency room visits will be $100. Co-payments for ER visits will be waived whenever the patient is admitted to the hospital.
Prescription drugs: The co-pay for generic tier-1 drugs will be $10, and $20 for brand name tier-2 drugs. The co-pay for tier 3 brand name medications will remain at $45. Savings Tip: Use NoviXus mail order pharmacy services for any ongoing maintenance medications that are taken regularly and save one third of the out-of-pocket cost over purchasing at a retail pharmacy.
Employees working 30 hours per week (75 percent effort) or more will be eligible for health care coverage with the same university contribution as full-time employees. This reduces the requirement for full university contributions from the current threshold of 32 hours per week or 80 percent effort.
The university will no longer offer opt-out cash ($66.67/month) to employees who waive U-M health care coverage.
Allan Stam, professor of political science, LSA, and director of the International Policy Center, on what he can't live without: "Family, close friends and music."
“Songs of the Birds: Airbrushed Acrylics” by Carol Hanna, 8 a.m.-8 p.m. beginning Aug. 19, University Hospital Gifts of Art Gallery, main lobby, Floor 1.