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BENEFITS and RETIREMENT Orientation (561) 297-3071-Benefits (561) 297-2061-Retirement

BENEFITS and RETIREMENT Orientation (561) 297-3071-Benefits (561) 297-2061-Retirement Fax: (561) 297-3915. Benefits Enrollment. Instant access to your benefits through an online secure website at https://peoplefirst.myflorida.com User ID and password mailed to you

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BENEFITS and RETIREMENT Orientation (561) 297-3071-Benefits (561) 297-2061-Retirement

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  1. BENEFITS and RETIREMENT Orientation (561) 297-3071-Benefits (561) 297-2061-Retirement Fax: (561) 297-3915

  2. Benefits Enrollment • Instant access to your benefits through an online secure website at https://peoplefirst.myflorida.com • User ID and password mailed to you • People First Service Call Center (1-866-663-4735) • Plan information, Benefits Guide, cost estimators, links to insurance companies, all forms and brochures found at: http://www.myflorida.com/mybenefits

  3. Health Insurance • PPO • Florida Blue (Blue Cross & Blue Shield) • HMO’s • AvMed • Coventry

  4. Health Insurance • You have 60days from your Hire Date to select your benefits • Enroll ONLINE after you receive your Enrollment Kit in mail from People First, • Effective First of the Month following enrollment. Prepayment allowed for Medical only, • Effective First of Month after deductions have been taken for all other plans.

  5. Biweekly Premium Individual coverage $25.00 Family Coverage $90.00 Cost will be different for part-time employees (see Benefits Calculator) Office Visit $15 PPO Physician $20.00 HMO $25 PPOSpecialist $40 HMO Specialist $25 Urgent-Care Center $250 Hospital stay Insurance Cost per paycheck 90- day supply through Mail order (mandatory in PPO) Generic • $14 Preferred Brand Name • $60 Non-Preferred Brand • $100 Express Scripts (Medco) Rx 30 day supply costs: Generic • $7 Preferred / Brand • $30 Non-Preferred • $50

  6. HMO’s • Exclusive network in the area that you live or work AvMed & Coventry Healthcare have providers in Dade / Broward / Palm Beach County / St Lucie Counties Martin County/Indian River: AvMed only HMO • No approval is needed for specialist • No deductible • No claims to file • Mail Order Rx through Medco • Emergency Room $100 copay, waived if admitted

  7. PPO- Florida Blue (Blue Cross/Blue Shield of FL) • Nationwide/World wide coverage (network providers can be located from online directory nationally) • No referral is needed to see a specialist • Co-insurance (based on percentage of charges) • Calendar year deductible • Express Scripts Prescription Card • Rx through Mail Order • Hospital stay- $250 per admission • Emergency Room Copay $100, waived if admitted

  8. PPO network Non-network • Deductible $750/person $1500/family • Network allowed amount60% • Hospital Stay$500 • Ambulance 100% with no deductible PPO Calendar Year out-of–pocket maximum $2,500/person; $5,000/family After your out-of –pocket costs reach the maximums, PPO pays 100% for covered care in most cases, up to allowable costs. HMO’s: Out-of pocket: $1,500/$3,000 All Plans: No lifetime maximums as of Jan. 2011 • Deductible $250/person $500/family • Network allowed amount80% • Hospital Stay$250 • Ambulance 100% with no deductible

  9. Health Insurance • Under PPO: pre-existing conditions in past 6 months are not covered for 12 months - if over age 19 • Request Waiver by submitting Certificate of Creditable Coverage or Portability if coverage ended within 63 days All pre-existing conditions are covered under both HMO’s

  10. The FAU Boca Campus Pharmacy accepts Express Scripts/Medco for AvMed HMO and Florida Blue PPO subscribers. FAU Pharmacy also carries a wide variety of over-the-counter products including: cough and cold medication, pain relievers, hygiene products, bath and beauty aids, etc. (Boca Campus Only)

  11. Flexible Spending Accounts program FSA allows you to set aside a portion of your income to pay pretax for health and dependent care expenses not covered by your insurance. Deduction amounts are taken from gross pay before FICA and Social Security taxes are calculated which creates at least a 20% savings. Medical Reimbursement Account • Minimum amount $60 • Maximum amount $2500 in 2013 • myMRA Debit Card Dependent Care Reimbursement Account • Minimum amount $60 per year • Maximum amount $2500-$5000 in 2013 (depends on tax filing status ) • If you elect $2400 for the calendar year; $100 would be deducted bi-weekly over 24 pay periods for 12 month employees and $150 over 16 pay periods for 9 month employees. • Reimbursements are processed within 7 days • Some myMRA expenses require documentation • Deadline for filing is April 15 of the following Year • You must incur expense to use money by next March 15th (grace period) or it will be forfeited.

  12. Eligible Health Care Expenses • Co-insurance • Experimental treatment • Contact lenses • In-vitro fertilization • Deductibles • Dental copayments • Vision expenses • Hearing aids • Insulin supplies • Immunizations • Guide dogs • Stop Smoking RX • Vaccines • Medical supplies • Weight loss programs • Wheel Chairs • See IRS Pub 502 for complete list.

  13. Eligible Dependent Care Expenses • Day care services • In-home care • Nursery school • Preschool and afterschool care • Summer day camps • Baby-sitting fees • Elder care services Can only be used if NOT filing Dependent Care Tax Credit on tax return

  14. Health Investor High Deductible Health Plans (HIHP) The Health Investor High Deductible Health Plans offers a reduced premium. • All covered benefits must apply to the Plan Deductible, including prescriptions. • Offered only if you have no other health coverage. • In addition to the higher deductibles, employees will pay co-insurance vs. set dollar co-payments. • Higher out of pocket maximums.

  15. 1. pay for expenses while meeting deductible • 2. Pay coinsurance (based on percentage) • 3. pay for other healthcare like dental and vision not covered by FSA or other plans.. • 4. save for future healthcare costs

  16. Limited Purpose Medical Reimbursement Account (to be used ONLY with HSA) • You can use the LPMRA to cover dental, vision and over-the-counter medication costs, IF considered tax deductible by the IRS, but not paid by any health plan. • You can set aside $60 to $2,500 in an account • Not for Medical expenses (use HSA) • Dental and vision expenses only • Orthodontia not covered by dental plan • Over-the-counter medications

  17. What Should I Know About My Options ?

  18. Wellness Benefits • Employees and dependents are covered at 100% for preventative care benefits under the PPO and HMO plans. • Physical exams and screenings including lab work, and health assessments • Fitness Club discounts (see listings) • Smoking Cessation program discounts • Weight management program discounts up to 50% and Nutritional Counseling tools • Prenatal Programs • Massage and Acupuncture discounts • Routine eye and hearing tests • PSA test for males 50 and over • Annual routine GYN exams for Ladies Other preventative benefits are listed in the Benefits Guide

  19. Health Insurance All dependents covered though the end of the calendar year in which the child turns 26 are eligible for coverage. • New: separate rider available to cover dependents age 27-30; must meet criteria; additional premium ($587.74/month), pre or post tax payroll deduction. Important Note: • Dependent Certification required when enrolling family. • Copies of birth &/or marriage certificates may be requested for ALL dependents and should be faxed directly to People First within 60 days of enrollments or coverage suspended.

  20. Health Insurance Spouse Program – When both spouses are full time active State Employees, each spouse pays only $15 per month for health insurance for full family coverage ($30/month total) Employees may not change their benefits elections during the course of a plan year unless they experience a Qualifying Status Change (QSC) event Examples:marriage or divorce / death of a spouse or dependent / birth, adoption, or legal guardianship / change in employment status from part time to full-time or vice-versa, change in spouse’s employment status

  21. Benefits Enrollment • New Hires should enroll ONLINE after you receive your enrollment kit; if unable to enroll online, enrollment forms can be faxed to People First or sent to: Benefits Department Admin Bldg, #107 Boca Campus • print copy of your Confirmation of Benefits for HR if prepaying and attach with check. To Prepay for first month Medical Insurance: make checks payable to: Florida Atlantic University • Please include your requested effective date (month and year) and Z number on the check.

  22. Life Insurance • Basic Life Insurancecoverage is FREE to full time employees;$25,000 Policy includes AD&D and Accelerated Death Benefit. Effective date of hire. * Part Time may elect at a cost. • Optional Life Insurance – Employees may add additional term life insurance by selecting 1 to 7 times their annual salary (post tax); policy is portable and guarantee issue Rates on PeopleFirst Enrollment screen or see the HR/Benefits Calculator for rates Basic and Optional Term Life insurances will end when you terminate employment; policy conversion available within 31 days of termination.

  23. D e n t a l I n s u r a n c e • United Dental • Cigna DHMO • Assurant • Ameritas Dental • Humana (CompBenefits) DHMO • Humana (CompBenefits) PPO Premiums are listed on the enrollment form Cost will depend on the coverage selected Four tiers of coverage available

  24. D e n t a l I n s u r a n c e Prepaid (DHMO) • Each member registers with a dentist from a list of providers • Some no charge benefits available • No claims to file • No deductibles • Expenses for preventative and restorative care vary by Provider • Some plans may also include vision discounts

  25. D e n t a l I n s u r a n c e Indemnity / DPPO • May select any dentist • More out of pocket expense • Coinsurance, deductibles and maximum annual benefits • Coverage and cost vary by Provider • Employees will pay out of pocket for services and then submit a claim form for reimbursement

  26. Vision Plan Through HumanaVision VCP Choice of 2 Vision Care options(Cost on Enroll Form): • Comprehensive Exam Plus Materials Plan or • Materials Only Plan See Benefits Guide for details or go to: HumanaVisionCare.com/custom/FL/

  27. Supplemental Insurance Plans pay you cash for out of pocket expenses • AFLAC – cancer, hospital intensive care insurance • Capital Insurance – hospital insurance and vision discount program • Colonial – income replacement for accident and cancer insurance fixed rates ALTA & Cigna: Hospitalization plans Must complete Peoplefirst enrollment AND Company application • Gabor Agency – (Not on PeopleFirst website) Long Term Care, Whole or Universal Life Insurance (including spouse or dependents), and Long Term Disability coverage (30 or 90 day waiting period) Detail information about each plan is provided through brochures.

  28. PREFERRED LEGAL PLAN Biweekly Cost $4.98 • Unlimited free legal advice via phone • Free review of legal documents • Free face-to-face consultation with attorneys • Free letters and phone calls made on your behalf • Free Identity Theft help & restoration • Free credit report analysis and repair • Free Simple Wills for member & spouse • Free notary services • 40% - 70% reduced off legal fees and services • Access 24 hr/day, 7 day/week

  29. Open accounts anytime online. Competitive rates on home, personal and auto loans. Credit Unions

  30. EAP – Employee Assistance Program Investing in your career with completely confidential counseling, throughAetna Resources for Living 3 free sessions per issue with a private licensed therapist for guidance on: Financial Issues Legal issues Relationships Stress or Anxiety Grief Issues Depression Child & Elder Care Alcohol/Drug Abuse Family challenges Special Discounts Life Improvement Purchase Pet Insurance Call: 800-865-3200 www.horizoncarelink.com Login ID: Florida Atlantic University, Password: EAP

  31. FAU Education Benefits Employee Educational Scholarship Program(EESP) To Qualify: • Full time employee • May enroll after 6 months of employment • Undergraduate - C grade or better • Graduate - B grade • Degree or non Degree seeking • Employees are allowed to take up to 6 credit hours per semester Tuition FREE. • Some fees still apply. • Must be employed last day of class. • FAU Bookstores sell text and reference books, school supplies, convenience foods, drinks, clothing, FAU merchandise on all campuses. Online ordering options are available.

  32. Benefits & Retirement Website

  33. FAU Perks Log on to: www.fau.edu/HR/Benefits • Review Benefits Guide; use our Benefits Calculator • Print all forms needed for enrollment or changes • Have direct links to all insurance websites and provider company’s telephone numbers • Receive FAU discounts on Tri-Rail, Wireless plans, Universal Studios, Busch Gardens, Walt Disney World and other discount websites • View Employee Handbook and commonly asked policy questions • Review criteria, procedures and print Employee Educational Scholarship Program Form

  34. RETIREMENT

  35. Florida Retirement System • State sponsored retirement plan • Must choose a plan: • Pension Plan • Investment Plan * Mandatory 3% pretaxcontribution • Eligible Employees: • All Faculty • AMP employees • SP employees • SP employees are automatically enrolled in the FRS when employed by the University.

  36. Florida Retirement System FRS Pension Plan • Hired after July 1, 2011: Must have 8 years of creditable services in order to be vested and receive retirement benefit. Mandatory 3% Employee Contribution. • Normal retirement is considered to be age 65 with 8 years of service or 33 years of service, regardless of age. For Special Risk members, normal retirement is considered to be age 60 with 8 years of service or 30 years of service, regardless of age. • Retirement benefit is based on your earnings, length of service, and membership class. Cost-of-living increases suspended as of July 1,2011. • Subsidy for Health insurance ($5 for every year worked) • Eligible for DROP Program(deferred retirement option program). DROP was implemented on July 1, 1998, and allows employees to retire without terminating employment for up to 5 years. Employees retirement benefits accumulate and earn interest compounded monthly at an effective guaranteed annual rate of 1.3%. DROP members are excluded from 3% mandatory contribution.

  37. Florida Retirement System FRS Investment Plan • Vesting is after 1 year of FRS creditable service, in order to receive the retirement benefit. Mandatory 3% Contribution. • FAU contributes 3.30% (effective July 1, 2012) • No age or service requirements for you to receive a benefit, once vested. • You should consult a tax specialist to get an explanation of the tax implications of early retirement. • Health Insurance Subsidy is available only after you attain eight years of FRS service credit and you reach normal retirement eligibility • Not eligible for DROP participation • If you're vested when you leave FRS-covered employment and go to work for a non-FRS employer, you can: • Leave your account in the Investment Plan, where it will remain invested until you withdraw it; • Roll your account over to an Individual Retirement Account (IRA) or to the plan of your new employer, if that plan accepts rollovers; or • Have your account paid to you. You'll have to pay taxes on this amount in the year during which it's paid to you. • If withdrawal after termination, you forfeit service credit and will not be able to join any of the State of Florida retirement plans if reemployed.

  38. Florida Retirement System Second Election Option • You may have a one-time opportunity after you make your plan election, to switch from the Investment Plan to the Pension Plan, or from the Pension Plan to the Investment Plan. • You will have to "buy-into" cost to convert plans, which may be substantial. • For more information log on to: www.myfrs.com. or call 866-446-9377 • ORP Election is irrevocable.

  39. ORP-Optional Retirement Program • Only AMP and Faculty are eligible for ORP • The ORP is a defined contribution plan that provides full and immediate vesting of all contributions. • Mandatory 3% employee contribution. • FAU contributes 5.14% and employees can match that amount, after 3% mandatory. • Maximum amounts employees can contribute for the year in 2013: - $17,500 (Not including 3% mandatory) - $23,000 if over age 50 • 90 days to choose plan or employees are automatically defaulted into FRS Pension Plan. • Faculty in the College of Medicine must enroll in the ORP.

  40. ORP/403(b) Companies Fidelity Investments Jefferson National ING MetLife Resources SYMETRA T. Rowe Price Ins. TIAA-CREF VALIC

  41. Tax Sheltered Accounts 403(b) Plan TSA / 403(b) is a retirement savings plan which allows you to invest a chosen dollar amount as a pre- tax deduction. • Reduces your tax liability • Choice of approved Providers • Manage your investments. • Contribution amounts can be changed or stopped at any time.

  42. FRS Reemployment / Renewed • Membership Rules for Prior FRS Participants or Retirees • Investment Plan: • Considered “Retiree” if terminated and received any benefits or took ANY distribution, regardless of age. • No re-employment at FRS agency for 6 months. • No renewed membership in FRS and no contributions. • Pension Plan: • No reemployment for 6 months. • No renewed membership in FRS. • Request a refund of 3% mandatory- lose service credit. • Optional Retirement Program • Considered “Retiree” if terminated and take a distribution. • No re-employment at FRS agency for 6 months. • No renewed membership in FRS and no FAU contributions.

  43. Refunds or Distributions of Mandatory Employee Contribution after leaving FAU: • Participants must be terminated from all FRS employers for 3 calendar months to be eligible for a refund or distribution. • Taking a distribution of any employee contributions and/or employer contributions makes you a RETIREEunder all plans. No renewed membership. • No reemployment for 6 calendar months after receiving distribution.

  44. Free Resources: MyFRS.com • New Hire Kit with video • Financial Guidance & Planning Line: 866-446-9377 • Estimate Pension benefits, or • Access Investment Account • Personalized Counseling & Assistance • Retiree Services • Access forms, brochures, newsletters atwww.MyFrs.com

  45. State of FLDeferred Compensation Plan • 457 Plan for supplemental pretax retirement savings • Payroll deductions can be up to 80% compensation • Shelter up to IRS limits $17,500 or $23,000 (50+) in 2013 • 5 state approved vendors - one online brokerage firm • Hardship provisions • No 10 % penalty after termination • Enroll online at: www.Myfloridadeferredcomp.com

  46. Human ResourcesBenefits & Retirement Florida Atlantic University 777 Glades Road Administration Bldg. Boca Raton, FL 33431 Benefits Staff: Insurance Benefits: (561) 297-0242 EESP: (561) 297-3073 Retirement: (561) 297-2061 Mgr. Benefits & Retirement: (561) 297- 3071 Fax: (561) 297-3915 Email: Benefits@FAU.edu www.fau.edu/humanreources/benefits

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