1 2012-13 BENEFITS, WELLNESS & RETIREMENT ORIENTATION Fixed-Term Faculty.

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2012-13BENEFITS, WELLNESS & RETIREMENTORIENTATION

Fixed-Term Faculty

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For the Health of it!

February 1999 Comprehensive wellness program Create and support a culture of

health and wellness that results in a creative, energetic, and productive workforce

Programs: On-site fitness facilities Weight Watchers at Work Wellness screening Annual health fair CPR and First Aid classes And many more!

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CMU Choices Benefits

Health Plans Medical & Prescription Drug* Dental*

Life Plans Employee Term Life* Spouse/OEI Term Life^ Child Term Life^

Flexible Spending Accounts (FSA) Health Care Account* Dependent Day Care Account*

*Pre-Tax Benefit ^Post-Tax Benefit

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Plan Year & Open Enrollment CMU Choices Plan Year: July 1st – June

30th For New Hires:

All benefit elections effective through 6/30/2013

2012-13 is the first year of a 2-year dental enrollment cycle

Open Enrollment: Typically held the first two weeks of May Changes to benefit elections take effect July 1st

of the new plan year

Coverage Effective Dates

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Benefit coverages will continue during any additional and consecutive benefit eligible fixed-term faculty assignment(s) during the plan year.

Appointment:

All CMU Choices Benefits Begin

On:

All CMU Choices Benefits End On:

10-Month Faculty

August 16th for those starting the beginning of Fall Semester

January 1st for those starting the beginning of Spring Semester

The last day of CMU employment, unless the member has worked the entire Spring Semester, in which case benefit coverage continues through August 15th of the current year.

12-Month Faculty

Date of appointment Last day of employment

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Qualifying Status Changes

Status change form must be completed and received by Benefits office within 30 days of the event.

Qualifying Status Change Events: Retrospective:

Birth, adoption, or placement of adopted a child Coverage is effective back to the date of event

Prospective: Marriage, divorce, loss of dependent status, unpaid

leave of absence, etc. Coverage is effective as of the next available pay period

Contact the Benefits & Wellness office with any status change questions: 989-774-3661 or [email protected]

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New Hire Online Enrollment

You must enroll in benefits online within 30 days of hire date. Revisions permitted until your deadline

Changes to elections previously entered may impact your coverage and/or your payroll deductions

After your deadline has passed, you will not be able to change your benefit elections until the next open enrollment period or within 30 days of a qualifying status change event

Benefit elections not entered after the deadline, will automatically enroll into: 1x salary EE life No coverage for medical/prescription, dental,

dependent life, and FSAs

Spouse/OEI Eligibility

Other Eligible Individual (OEI) Must complete an OEI

designation form Will be taxed on the full

premium of the OEI (and OEI dependents) coverage

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Spouse/OEI eligible for Medical & Prescription

Drug Dental Vision Life

If spouse/OEI is offered coverage through their employer, they MUST enroll in at least single coverage through their employer’s medical, prescription drug, and dental plans, unless the spouse/OEI is charged 100% of the cost of the coverage through that employer.

If spouse/OEI also works at CMU Both employees cannot cover each other and/or children on medical &

prescription drug, dental, or vision plans Both employees may take dependent life coverage for each other and/or

dependents

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Child Eligibility

Children, Step-Children, or Children of OEI eligible for Medical & Prescription Drug Dental Vision Child Life

Eligible from birth through the end of the calendar year of the child’s 26th birthday

Coverage for children who were disabled prior to age 19 may be available past age 26 if certain criteria are met. See link below for more information.

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Medical: Blue Cross Blue Shield

Mandatory Benefit PPO 1 or PPO 2

Preferred Provider Organization (PPO)

BCBS Community Blue Network

Find in-network providers at: www.bcbsm.com

No Coverage – may be selected only if employee has medical/prescription coverage elsewhere

Calendar year deductible & co-pay

Must select separate prescription drug plan at same level of coverage

Will receive separate card from BCBS

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Plan Comparison: In-Network

In-Network Services:

PPO 1 PPO 2

Preventative Services

100% covered (in-network doctor

only)

100% covered (in-network doctor

only)

Pre & Post Natal Care 100% of R/C

100% R/C after deductible

Office/Urgent Care Visits $10 co-pay $10 co-pay

Hospital Emergency Room

Visit

$50 co-pay(waived if accidental injury or admitted to

hospital)

$50 co-pay(waived if accidental injury or admitted to

hospital)

Inpatient Hospital Care 100% of R/C

80% R/C after deductible

Annual Deductible None

$250/person $500/family

Annual Out-of-Pocket Maximum

None – most services are covered at 100%

R/C

$1,000/person $2,000/family

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Plan Comparison: Out-of-NetworkOut-of-Network

Services:PPO 1 PPO 2

Preventative Services Not Covered Not Covered

Pre & Post Natal Care

80% R/C after deductible

60% R/C after deductible

Office/Urgent Care Visits

80% R/C after deductible

60% R/C after deductible

Hospital Emergency Room

Visit

$50 co-pay(waived if accidental injury or admitted to

hospital)

$50 co-pay(waived if accidental injury or admitted to

hospital)

Inpatient Hospital Care

80% R/C after deductible

60% R/C after deductible

Annual Deductible $250/person $500/family

$500/person $1000/family

Annual Out-of-Pocket Maximum

$2,000/person $4,000/family

$3,000/person $6,000/family

Mandatory Benefit PD 10/20/30 (Generic Preferred Plan) No Coverage – may be selected only if employee has

medical & prescription coverage elsewhere Formulary (Primary/Preferred Drug List)

List of preferred drugs used for determining co-pay level Not all prescriptions listed on formulary are covered by

plan Plan year deductible & co-pay (July – June) Must select separate medical plan at same level

of coverage Will receive separate card from CVS Caremark

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Prescription Drug: CVS Caremark

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Rx Coverage:

Description PD 10/20/30

Deductible None

Generic Prescriptions 10% co-pay

Formulary Brand20% co-pay

(if generic available, will also pay difference between brand & generic)

Non-Formulary Brand

30% co-pay(if generic available, will also pay

difference between brand & generic)

Annual Out-of-Pocket Maximum

$2,000/person$4,000/family

Out-of-Network Pharmacy 50% co-pay

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Additional Prescription Information: CVS Specialty Pharmacy Mail Service available through CVS Caremark Step Therapy Smoking cessation prescription drugs and

support programs University Health Services Pharmacy

Prescriptions filled for CMU faculty, staff, & dependents

Online refills & on-campus deliveries available Prescription transfer services Discounted OTC drugs/supplies Confidential service

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Dental: Meritain Health

Voluntary Benefit D 100/50/50 D 100/75/50/50 No Coverage

Two-year dental election 2012-13 is 1st year of

2-year dental cycle – election binding thru June 30, 2014

Optional Dentemax network www.dentemax.com

Pre-authorization recommended for services over $200.

Plan year deductible, co-pay, and plan maximum (July – June)

Will receive a separate card from Meritain Health

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Dental Plan Comparison:

Benefit D 100/50/50 D 100/75/50/50

Class I – Preventative Services

2 cleanings & 1 set of X-rays/plan year

Covered - 100% R/C

Covered - 100% R/C

Class II – Basic ServicesFillings, crowns, root canal, oral

surgery

Covered - 50% R/C after deductible

Covered - 75% R/C

Class III – Major ServicesDentures, bridges, dental

implants

Covered - 50% R/C after deductible

Covered - 50% R/C

Class IV – OrthodonticsChild under age 19 when

services beganNot Covered

Covered - 50% R/C $2,000

lifetime maximum

DeductibleClass II & III services only

$50/person $150/family None

Plan Maximum per Plan Year $1,000 per person $1,500 per person

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Term Life Insurance: The Hartford Mandatory Benefit

1.0 x Salary 1.5 x Salary 2.0 x Salary 3.0 x Salary 4.0 x Salary*

*Evidence of Insurability paperwork must be completed and submitted to The Hartford for approval

Includes core life and AD&D Core amount reduces 50%

at age 70 Additional support available

at: www.HartfordLifeConversations.com

Term life insurance does not have cash value. Policy ends on termination date.

Premiums are based on spouse/OEI’s age on July 1st of the plan year for all levels

Coverage must end at the end of the plan year in which spouse/OEI turns 70

Terminal Illness Benefit: 80% of benefit amount may be paid for spouse/OEI with less than a 12 month life expectancy

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Spouse/OEI Life: The Hartford Voluntary Benefit

$10,000 $25,000 $50,000 $75,000* $100,000* No Coverage

*Evidence of Insurability paperwork must be completed and submitted to The Hartford for approval

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Child Life Insurance: The Hartford Voluntary Benefit

$10,000 $25,000 No Coverage

Premium is a flat rate regardless of number of eligible children covered

Age Range Coverage Level

Birth to 14 days old No Coverage

15 days – 6 months $1,000

6 months to age 19

Level of Coverage

Unmarried dependent

children age 19 - 26

Level of Coverage

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Flexible Spending Accounts (FSA): Benefit Consulting Group

Voluntary Benefit Health Care FSA Dependent Day Care

FSA

IRS Rules: Fund balances are

non-transferrable between plans

Any leftover money will be forfeited

Reimbursement Process: Debit card option

Keep/reuse card (3 years)

Keep receipts Paper form option

Submit forms with receipts to Benefit Consulting Group (BCG)

Must have separate direct deposit form on file with Benefit Consulting Group

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Flexible Spending Accounts (FSA):

Health Care Account Dependent Day Care Account

Description

Reimbursement for health care expenses not covered by a health care plan (deductibles & co-pays, glasses/contact lenses, dental work, & over-the-counter medicine with prescription).

Reimbursement for dependent day care expenses while you and your spouse work or attend school on a full-time basis.

Eligibility

Your spouse, your children and your parents if: they reside with you; you are responsible for their expenses; and you claim them as dependents on your income taxes. OEI’s are not eligible.

Must be a dependent for federal income tax purposes and are either: a child under the age of 13 or an individual who is physically or mentally incapable of self care.

Availability

Full election on effective dateContributions made to date only

Election Levels

Minimum - $10.00 per payMaximum - $5,000 per plan year

Minimum - $10.00 per payMaximum - $5,000 per plan year

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CA$H IN ON WELLNESS

Open to all staff and fixed-term faculty

Earn $335 - $410 in Awards for participating in healthy lifestyle behaviors

Awards are issued via email by IncentOne ([email protected]) and can be redeemed for gift cards, gift certificates, or merchandise Per IRS regulations, these awards

must be taxed. When the awards are paid to your account, the amount of the reward will be taxed (~ 37%) in your paycheck.

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Step 1 HRA Component - $75Complete on-line Health Risk Assessment (HRA) May 1 - June 30 each year.

Spouses enrolled in a CMU medical plan also receive $75 for completing HRA.

Step 2 Exercise Component - $35/Quarter ($140 annual total) Complete at least 1,560 minutes of aerobic exercise

each quarter. As little as 30 min. per day 4 days per week.

Step 3 Health Care Component - $70Have an annual physical and blood work in the plan year

Step 4 Wellness Component - $50Attend at least 4 wellness screenings and/or activities in the

plan year

Step 5 Get Cash with GainsharingEmployees who complete steps 1, 2, 3 and 4 and are enrolled in one of the CMU self-funded Medical plans for the full plan year (July - June) are eligible. Any

surplus balance at the end of the year after expenses and reserves are fully funded will be shared between

the university and the employees who are eligible. Payment will be made in October of the following plan

year. Only one Gainsharing per contract.

Step Up to Wellness & Gainsharing for 2012-13

• Defined Benefit Plan• 10-year vesting period• Pension based on formula• Eligible only if worked at

certain Michigan Universities prior to 1/1/96

• Defined Contribution Plan• Immediate vesting• Pension based on accrued

earnings• Pre-enrolled in TIAA-CREF Life

Cycle Fund

University Retirement Plans

CMU CONTRIBUTION

403(b) Basic Retirement Plan

TIAA-CREF FIDELITY

Michigan Public Schools Employees Retirement System

(MPSERS)

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CMU contributes a percentage of earnings (8-10%) based on employee group No contribution or matching requirement by

employee University contributions are effective date of

hire Pre-enrollment into TIAA-CREF Life Cycle Fund

based on employee’s age At any time you may:

Change the investment fund option with TIAA-CREF

Elect to invest part or all of the university contribution with Fidelity Investments.

You are strongly encouraged to discuss your retirement investment options with a TIAA-CREF and/or Fidelity Investments counselor. TIAA-CREF may contact you.

403(b) Basic Retirement Plan

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• Voluntary Plan• No loan provision• Distribution without

penalty after separation from CMU employment• Taxes applied at time of

withdrawal

• Voluntary Plan• Loan provision with TIAA-

CREF only• Distribution without

penalty at age 59 ½, even if still working at CMU• Taxes applied at time of

withdrawal

Tax-Deferred Investment Plans

EMPLOYEE CONTRIBUTION

403(b) Supplemental Tax-Deferral Plan

TIAA-CREF FIDELITY

457(b) Public Deferred Compensation Plan

TIAA-CREF

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Tax-Deferred Investment Plans All contributions made by the employee as a

% of earnings - minimum $25 per pay on 457(b)

Salary reduction agreement form must be completed and returned to Benefits office Vendor application must also be completed for

TIAA (online) or Fidelity (paper) Maximum employee deferrals for 2012:

$17,000 for employees under age 50 $22,500 for employees age 50+ May defer up to maximum in both 403(b) and

457(b)28

StraightLine Advisors Independent investment research firm

Pro(b) ProAdvice

Fees based on CMU retirement balance Free if CMU balance under $5,000

Contact to learn about upcoming events or to schedule an individual meeting

StraightLine Advisors

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www.myRplan.com/cmu

Phone: 877-338-4032email:

[email protected]

Additional Benefits

Tuition Benefit Plan 24 credits per year Eligible: employee, spouse,

dependents, OEI, dependents of OEI

Taxation: Grad and Dr. level classes for

spouse and dependents Grad and Dr. level classes for

employee exceeding $5,250 All classes for OEI and their

dependents

Discount Programs CMU Discount Card

Use CMU ID for local discounts

YouDecide Save on a variety

of merchandise/services nationally

Visit Discounts website for more information30

Additional Assistance:

HR - Benefits & Wellness108 Rowe Hall989-774-3661

[email protected] – then

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