1 / 83

www.asu.edu/hr/documents/NEOOrientation.ppt

Benefits Design & Management. Benefits Orientation. www.asu.edu/hr/documents/NEOOrientation.ppt. Revised 03.03.14. Comprehensive Benefits Package. ASU offers a comprehensive benefits package at very competitive rates to enhance the total compensation of its faculty and staff.

kale
Download Presentation

www.asu.edu/hr/documents/NEOOrientation.ppt

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Benefits Design & Management Benefits Orientation www.asu.edu/hr/documents/NEOOrientation.ppt Revised 03.03.14

  2. Comprehensive Benefits Package • ASU offers a comprehensive benefits package at very competitive rates to enhance the total compensation of its faculty and staff. • Low-cost healthcare and life benefits • Disability Insurance programs • Voluntary Benefits and Reduced in-state tuition • Retirement programs

  3. Online Tools What is my total compensation? ASU’s comprehensive benefits package is a significant part of your total compensation and ASU pays for most of it when you are a benefits-eligible employee. To estimate the value of your total compensation, use the online Total Compensation Estimator: cfo.asu.edu/hr-estimator

  4. Online Tools cfo.asu.edu/hr-benefits

  5. Online Tools cfo.asu.edu/hr-benefitsfaqs

  6. Benefits – Who is eligible? R 255G 179B 16#FFB310

  7. Enrollment Deadlines • Submit a completed Benefits Enrollment/Change form and supporting documentation within 30 calendar days of hire/eligibility date. • After the 30-day deadline, elections may be made only during the annual open enrollment period or with a qualified life event. R 255G 179B 16#FFB310

  8. Plan Year R 255G 179B 16#FFB310

  9. Annual Benefits Open Enrollment • Held in October/November of each year • Changes are effective January 1 of the following year R 255G 179B 16#FFB310

  10. Qualified Life Events A Qualified Life Event (QLE) is an event defined by the Internal Revenue Service in Section 125 that allows changes to be made to benefit elections outside of open enrollment. QLE Examples: Your marital status changes Your dependent’s status changes Your spouse’s employment changes

  11. Qualified Life Events • Submit a completed Benefits Enrollment/Change Form and supporting documentation within 30 calendar days from Qualified Life Event. • After the 30-day deadline, elections may be made during the Annual Open Enrollment period or with another qualified life event. R 255G 179B 16#FFB310

  12. Required Documentation

  13. Benefits Effective Date R 255G 179B 16#FFB310

  14. Benefits Effective Date

  15. Benefits Effective Date

  16. Benefits Effective Date

  17. Benefits Processing

  18. Verify Your Elections Online • Go to: • My ASU my.asu.edu • My Employment>Benefits • My Benefits Summary • Enter the coverage effective date • Click Go

  19. Medical Plan Choices

  20. Medical Plan Types EPO – Exclusive Provider Organization R 255G 179B 16#FFB310

  21. Medical Plan Types PPO - Preferred Provider Organization R 255G 179B 16#FFB310

  22. Medical Plan Types PPO - Preferred Provider Organization R 255G 179B 16#FFB310

  23. Medical Plan Types HSA – Health Savings Account HIGH DEDUCTIBLE OPTION R 255G 179B 16#FFB310

  24. Medical Plan Types HSA – HEALTH SAVINGS ACCOUNT High Deductible Option R 255G 179B 16#FFB310

  25. Health Savings Account A health savings account is a tax-advantaged savings account available to eligible participants enrolled in the Aetna HSA high-deductible medical plan.

  26. Health Savings Account • Contributions are withheld pre-tax • HSA funds are used to pay out-of-pocket qualified healthcare expenses. • Funds can be used to pay current as well as future qualified healthcare expenses. • VISA debit card available

  27. Health Savings Account • Funds roll over from year-to-year (not use-it-or-lose-it) • Once funds reach $2,000, they can be invested similar to funds in an IRA. Investment options are with PayFlex • You maintain ownership, even after separation from ASU.

  28. Health Savings Account R 255G 179B 16#FFB310

  29. Health Savings Account • Annual contribution limits are established every year by the IRS based on the HSA medical option plan level of coverage. • It is each participant’s responsibility to manage contributions in accordance with federal guidelines to ensure that contributions do not exceed the limits, including contributions made to an HSA through another employer in the same calendar year.

  30. Health Savings Account

  31. Medical Plan Providers

  32. Medical Plan Rates Premiums per pay period

  33. International Coverage • EPO Plans • Emergency & Urgent Care only at in-network benefit level • PPO Plans • Emergency & Urgent Care at in-network benefit level • Other services covered at the out-of-network benefit level • HSA • Emergency & Urgent Care only at in-network benefit level

  34. Prescriptions - MedImpact Mail Order/Specialty Drugs with Walgreens Health Initiative

  35. Dental Plan Choices

  36. Dental Plan Rates Premiums per pay period

  37. Vision Plan Choices

  38. Vision Plan Choices

  39. Vision Plan Rates Premiums per pay period

  40. Insurance Cards Medical, dental and vision ID cards will be mailed to your home address Contact the provider directly if you fail to receive a card. Provider contact information is located in the Benefits Guide - Administration

  41. Short-Term Disability Pays a portion of your earnings if you cannot work due to a non-job-related illness or injury or a pregnancy After-tax payroll deduction; benefit is not taxed

  42. Short-Term Disability Plan Choices

  43. Long-Term Disability • Pays a portion of your earnings if you cannot work because of a covered illness or injury • Pays 66.66% base salary/pre-disability earnings • Automatically enrolled with retirement plan • ASRS – Sedgwick • ORP – The Hartford • Taxable benefits • Must be disabled 181 days or longer and unable to perform essential duties of job • Must be under care of licensed physician • Benefits payment offset by sick pay, retirement benefits, workers’ compensation or other disability income

  44. Basic Life Insurance ASU pays for coverage that equals 1x your annual salary

  45. Employee Supplemental Life Insurance

  46. Aetna Life Insurance Age Reductions

  47. Dependent Life Insurance

  48. Flexible Spending Accounts • An FSA allows you to make contributions on a pre-tax basis • Annual contribution limits are established every year by the IRS. • Flexible Spending Accounts benefits are effective for the plan year, January 1-December 31. • Claims for eligible expenses incurred during the year must be submitted by April 30 of the following year • You must re-enroll each year during the Benefits Annual Open Enrollment period • More information: www.asiflex.com

  49. Flexible Spending Accounts

  50. Voluntary Benefits • MetLife® Auto, homeowners, liability insurance • Unum Long-term care insurance

More Related