employee benefits retirement health dental vision life/ad&d cafeteria flexible spending long...
TRANSCRIPT
Employee Benefits
Retirement
Health
Dental
Vision
Life/AD&D
Cafeteria
Flexible Spending
Long Term Disability
Long Term Care
Leave
Holiday
Savings
Credit Union
Additional Benefits
Retirement
Louisiana State Employees Retirement System (LASERS)
Participant criteria:– Full-time classified employee– Part-time classified employee, working 21 or more hours per
week– Participation is mandatory
Employees age 55 or older when hired contribute to one of the following:– LASERS– Social Security (if you are under age 60, you must have already
contributed to Social Security for at least 40 quarters)– Deferred Compensation Plan
Retirement
Retirement criteria (as of Jan. 1, 2011)– At least 5-years of service credit and age 60 or older– Disability retirement after 10-years of service
Retirement benefit formula2.5% 2.5%
X Years of Service 20 years
X Average of 5 highest years compensation $40,000
= Annual retirement amount $20,000
Retirement
Survivor Benefits– Available after 5-years of service to minor children– Available after 10-years of service to a surviving
spouse
Options at Separation of Employment– Keep your money in the plan and notify us when you
are ready to retire– Roll your contributions into an IRA or another
compatible plan– Withdraw your contributions 20% taxes and 10% penalty will be imposed!!
HCP Employee Options
Social Security – employee may contribute to Social Security at a rate determined by the Federal Government. The Agency will also contribute to Social Security at the Federal Govt. rate.
Deferred Compensation – in lieu of contributing to Social Security you can opt to contribute to this investment plan. Contributions by both the employee and agency are at the normal Social Security rate.
Write your name here Write your SSN here
Sign here Write the date here
Sign here
Write the date here
Write your name here
Write your SSN here
Benefits Department
Staff– Alisha Crowell 903-0113 Benefits Supervisor– Tonya Jackson 903-0141 Benefits Analyst– Kim Myers 903-0709 Benefits Analyst– Dolores Nehlig 903-1604 Benefits Specialist
Office Information– Butterworth Building, Rooms 204-207– 7:30 a.m. – 4:00 p.m. – Fax: 680-0221
Important Information
Dates to Remember:– Date of Hire _____________________________– Enrollment forms due in HR _________________– Coverage effective date ____________________
*Up to 30 days from date of hire to sign up for benefits
Documents– Retirement: Social Security Card and Birth Certificate– Benefits: Original Birth Certificate(s), and Marriage License
Page 1
Health Insurance
Enroll within first 30 days of employment or at any time during the year
Premiums deducted one month in advance
Pre-existing conditions apply
Four options for medical coverage– LSU First/CIGNA (two options) Nationwide
• 1-866-929-5781 www.lsufirst.org
– Blue Cross Blue Shield of LA HMO Nationwide• 1-800-392-4089 www.bcbsla.com/ogb
– Group Benefits PPO Statewide• 1-800-272-8451 www.groupbenefits.org
– United Healthcare CDHP Nationwide• 1-866-393-6765 www.myuhc.com
Network of providers to select from, utilizing CIGNA’s nationwide network, the First Choice providers, and Verity Health’s Louisiana network
LSU deposits money into a Health Reimbursement Account (HRA) No out of pocket expenses until HRA is exhausted First Choice Providers offering 100% coverage after HRA is exhausted If expenses exceed your HRA, then you are responsible for a deductible.
Once the deductible has been met, plan pays 90% in-network providers or 70% to out-of-network providers.
Any unused HRA balance on January 1st rolls over and can be used in future years
Generic drugs are available at no cost after HRA is exhausted. Preventive Care Covered 100% with in-network providers; annual eye
exam Critical Illness policy built into plan: $5000 for employee $25,000 term life insurance policy including AD&D coverage No lifetime maximum See Benefit Snapshot in booklet
OPTION 1Effective
DateEmployee Only Employee + Spouse
Employee + Child(ren)Employee + Family
HRA MemberResponsibil
ity
HRA MemberResponsibil
ity
HRA MemberResponsibil
ity
January 1st $1,000.00 $ 500.00 $1,500.00 $750.00 $2,000.00 $1,000.00
February 1st 916.67 458.33 1,375.00 687.50 1,833.00 916.67
March 1st 833.33 416.67 1,250.00 625.00 1,666.67 833.33
April 1st 750.00 375.00 1,125.00 562.50 1,500.00 750.00
May 1st 666.67 333.33 1,000.00 500.00 1,333.33 666.67
June 1st 583.33 291.67 875.00 437.50 1,166.37 583.33
July 1st 500.00 250.00 750.00 375.00 1,000.00 500.00
August 1st 416.67 208.33 625.00 312.50 833.33 416.67
September 1st 333.33 166.67 500.00 250.00 666.67 333.33
October 1st 250.00 125.00 375.00 187.50 500.00 250.00
November 1st 166.67 83.33 250.00 125.00 333.33 166.67
December 1st 83.33 41.67 125.00 62.50 166.67 83.33
OPTION 2Effective
DateEmployee Only Employee + Spouse
Employee + Child(ren)Employee + Family
HRA MemberResponsibil
ity
HRA MemberResponsibil
ity
HRA MemberResponsibil
ity
January 1st $1,000.00 $1, 500.00 $1,500.00 $2,250.00 $2,000.00 $3,000.00
February 1st 916.67 1,375.00 1,375.00 2,062.50 1,833.00 2,750.00
March 1st 833.33 1,250.00 1,250.00 1,875.00 1,666.67 2,500.00
April 1st 750.00 1,125.00 1,125.00 1,687.50 1,500.00 2,250.00
May 1st 666.67 1,000.00 1,000.00 1,500.00 1,333.33 2,000.00
June 1st 583.33 875.00 875.00 1,312.50 1,166.37 1,750.00
July 1st 500.00 750.00 750.00 1,125.00 1,000.00 1,500.00
August 1st 416.67 625.00 625.00 937.50 833.33 1,250.00
September 1st 333.33 500.00 500.00 750.00 666.67 1,000.00
October 1st 250.00 375.00 375.00 562.50 500.00 750.00
November 1st 166.67 250.00 250.00 375.00 333.33 500.00
December 1st 83.33 125.00 125.00 187.50 166.67 250.00
No deductibles, fixed co-payments for services– Example: $15 primary care physician; $25 specialist
50/50 pharmacy benefits; employee pays 50% of cost up to $50/prescription
Name brand covered when there is no FDA approved generic substitute
See Health Plan Summary in booklet for details
HMO
Indemnity Plan featuring a network of contracted providers and facilities
Annual deductibles of $500/person and coinsurance apply
Various levels of reimbursement based on utilization of PPO/Non-PPO provider in the region where services are received
Freedom to select from network physicians; no referrals required
50/50 pharmacy benefit; employee pays 50% of cost up to $50/prescription; $1200 max out-of-pocket
PPO
Plan year deductible:– Employee $1,250– Employee & spouse or child $2,500– Family $3,000
In Network Maximum Out of Pocket:– Employee $3250, including deductible– Employee & spouse or child $6,500, including deductible– Family $9,000, including deductible
Out of Network Maximum Out of Pocket– There is no maximum
CDHP
CDHP
After deductible is met, plan member pays:– 20% co-insurance for network providers– 30% co-insurance for non-network providers
Routine annual exams are covered at 100% with no deductible– Age limitations & timelines apply
Health Savings Account
Not Eligible to participate if you– choose a medical plan other than United CDHP– or your spouse are participating in a Flexible
Spending Plan – and your dependents have medical coverage
under another plan – have TRICARE or TRICARE for Life– used VA benefits within the previous 3 months– have Medicare Part A or B
Health Savings Account
State of Louisiana – makes the initial $100 deposit in your account– additionally matches your contributions dollar for dollar up
to $400, if made via IRS Section 125 Cafeteria plan via payroll deduction
2012 Federal Guidelines for Total Contributions: – $3,100 for individual coverage– $6,250 for family coverage– Can add $1,000 more per year for each year you are over age
55
Health Savings Account
IRS “use-or-lose” rule does not apply
Funds roll over from year to year
Money in your HSA grows tax free
If you change health plans or jobs, or retire, HSA is yours to keep
From age 65 on, you can use your HSA dollars for any healthcare or non-healthcare expenses with no penalty
Health Insurance Rates
Option 1 Option 2
Employee $143.98 $136.02 $111.76 $143.98 $126.28
Employee+Spouse $467.66 $441.74 $363.00 $375.06 $324.28
Employee+Child(ren) $207.22 $195.74 $160.94 $207.22 $193.94
Family $501.10 $473.30 $388.92 $476.96 $418.76
August 2012 - December 2012 monthly deductions
Living Well Louisiana Program - OGB
Health coaches (nurses, dietitians, pharmacists and respiratory therapists) available to assist with healthcare needs 24/7
Eligible to enroll if you participate in the BCBS-HMO or OGB-PPO and diagnosed with: – asthma– diabetes– heart disease– heart failure – chronic obstructive pulmonary disease (COPD)
You pay $15 for brand drugs and $0 for genericTo enroll call 1-800-383-0115
Diabetic Sense Program - OGB
Eligible to enroll if you participate in the BCBS-HMO or OGB-PPO
Get test supplies for free
Free Glucometer
Sign up by calling 1-888-341-8582
Provided by CatalystRx
Dental Insurance
Two Options (Basic or Enhanced)Service Basic Plan Enhanced Plan
Type 1 ProceduresPreventative
100% of Usual and Customary
100% of Usual and Customary
Deductible$100 Lifetime
(excludes preventative services/Type 1)
None
Type 2 ProceduresBasic Filings, Oral Surgery (extractions
& impacted teeth), Root Canal, Dentures and Crown Repair
Fee Schedule 80% of Allowable Expense
Type 3 ProceduresInlays and Crowns, Dentures and
Bridges, Periodontal SurgeryFee Schedule 50% of Allowable
Expense
Orthodontic Not Covered $1,500 Lifetime
Implants Not Covered $2,000 Lifetime
Maximum Plan Year Benefits $1,250 $1,500
www.dearbornnational.com 1-888-758-6979
Dental Insurance
Basic Enhanced
Employee Only $16.56 monthly $26.26 monthly
Employee + Spouse $31.11 monthly $51.37 monthly
Employee + Child(ren) $43.01 monthly $62.44 monthly
Family $57.56 monthly $87.55 monthly
Vision Insurance
Service LSU First Members Non-LSU First Members
Eye Exams (once per year) $0 $10
Lenses (once per year)
Single/Bi-focal/Tri-focal $0 $0
Lenticular $0 $0
Frames (once per year)Choose from Davis Vision
Designer Frames, or receive 20% discount after $130
Choose from Davis Vision Designer Frames, or receive 20%
discount after $100
Contact Lenses (once per year)
Elective, formulary Up to 4 boxes of disposables Up to 4 boxes of disposables
Elective, non-formulary Up to $130, +15% discount Up to $130, +15% discount
Medically necessary Paid in full with prior approval Paid in full with prior approval
*if LSU 1st member, receive UV coating, scratch protection & progressive lenses at no additional
cost
1-877-923-2847 www.davisvision.com (LSU 1st Client Control 4884) (Non LSU 1st Client Control 4885)
Vision Insurance
Monthly
Employee Only $7.66
Employee + Spouse $12.90
Employee + Child(ren) $13.18
Family $21.24
Office of Group Benefits/PrudentialLife Insurance
– Employees guaranteed coverage if enroll within 1st 30 days of employment– State pays half the premiums; employee pays dependent life premium– Plan includes AD&D coverage on employee– Reduction of 25% in coverage and appropriate reduction in premiums, July 1st
following ages 65 and 70. Children’s coverage ends at age 26.
BASIC LIFE (MONTHLY RATES)
Maximum Insurance Total Premium with AD&D Employee Share
$5,000.00 $5.00 $2.50
BASIC AND SUPPLEMENTAL LIFE
Annual Salary Maximum Insurance Total Premium with AD&D Employee Share
$19,333.34 - $20,000.00 $30,000.00 $30.00 $15.00
$20,000.01 - $20,666.66 $31,000.00 $31.00 $15.50
$20,666.67 - $21,333.33 $32,000.00 $32.00 $16.00
$21,333.34 - $22,000.00 $33,000.00 $33.00 $16.50
$22,000.01 - $22,666.66 $34,000.00 $34.00 $17.00
$22,666.67 - $23,333.33 $35,000.00 $35.00 $17.50
$23,333.34 - $24,000.00 $36,000.00 $36.00 $18.00
$24,000.01 - $24,666.66 $37,000.00 $37.00 $18.50
$24,666.67 - $25,333.33 $38,000.00 $38.00 $19.00
$25,333.34 - $26,000.00 $39,000.00 $39.00 $19.50
$26,000.01 - $26,666.00 $40,000.00 $40.00 $20.00
$26,666.01 - $27,333.33 $41,000.00 $41.00 $20.50
$27,333.34 - $28,000.00 $42,000.00 $42.00 $21.00
$28,000.01 - $28,666.66 $43,000.00 $43.00 $21.50
$28,666.67 - $29,333.33 $44,000.00 $44.00 $22.00
$29,333.34 - $30,000.00 $45,000.00 $45.00 $22.50
$30,000.01 - $30,666.66 $46,000.00 $46.00 $23.00
$30,666.67 - $31,333.33 $47,000.00 $47.00 $23.50
$31,333.34 - $32,000.00 $48,000.00 $48.00 $24.00
$32,000.01 - $32,666.66 $49,000.00 $49.00 $24.50
$32,666.67 - And Over $50,000.00 $50.00 $25.00
LSU Voluntary Life Insurance (The Hartford)
Guaranteed issue when enrolling during the first 30 days Guarantee issue amount for employee coverage is five (5)
times annual base salary up to $500,000Spouse coverage is guaranteed up to $100,000. Spouse is
eligible for up to 50% of employee coverage; amounts over $100,000 require approval
Accidental death and dismemberment coverage for employee/spouse available
Child(ren) are eligible for $5,000, $10,000 or $20,000 of life up to age 26 (AD&D not available)
Spouse and children are not eligible for coverage if they are an active member of the armed forces.
May apply for coverage at any time, yet coverage is subject to underwriting approval
LSU Voluntary Life Insurance (Monthly Rates)
Employee Coverage
AgeEmployee Rate/$10,000
Spouse Rate/$5,000
<25 $0.55 $0.28
25-29 $0.65 $0.33
30-34 $0.75 $0.38
35-39 $0.95 $0.48
40-44 $1.19 $0.60
45-49 $1.68 $0.84
50-54 $2.85 $1.43
55-59 $4.35 $2.18
60-64 $6.60 $3.30
65-69 $10.90 $5.45
70-74 $20.50 $10.25
75-79 $34.30 $17.15
80-84 $60.90 $30.45
85+ $115.10 $57.55
AD&D CoverageEmployee $0.31 per $10,000
Spouse $0.16 per $5,000
Child(ren) CoverageCoverage Amount Monthly Rate
$5,000 $0.75
$10,000 $1.49
$20,000 $2.98
Accidental Death and Dismemberment
Covered Amount Employee Only* Employee & Family*
$27,500 $1.00 $1.50
$55,000 $2.00 $3.00
$82,500 $3.00 $4.50
$110,000 $4.00 $6.00
$165,000 $6.00 $9.00
$220,000 $8.00 $12.00
$275,000 $10.00 $15.00
$300,000 $10.90 $16.36
– Benefits are paid for loss of life, disability or dismemberment resulting from a covered accident.
– Coverage is effective 1st of month following enrollment.– Employee's spouse and unmarried eligible dependents (14 days up to age 21, up to
age 24 if a full-time student) are also eligible for coverage:• Spouse coverage = 50% of principal sum or 40% if you have eligible children• Children coverage = 15% of principal sum or 10% if your spouse is eligible for
coverage
* Monthly Rate
Tax Saver Flexible Benefit Plan
Cafeteria Plan– Premiums for medical, dental, vision and Group Benefits life
insurance are deducted from your check pre-tax. – Must enroll within 30 days of appointment date; otherwise, must
wait until October Annual Enrollment period – No cost to participate– You can only cancel or lower coverage during Annual Enrollment
unless you have a qualifying event. Change must be made within 30 days of event.
• Qualifying events include:– Change in marital status– Birth/Adoption– Change in employment status of spouse– Change in eligibility of a dependent
Flexible Spending Account
You can set aside a portion of your earnings, tax-free, for everyday expenses you may have:
– Dependent day care expenses – Out-of-pocket medical expenses including medical, dental, vision, over-
the-counter medications or prescription drugs
How it works– The amounts you elect are automatically deducted from your paycheck
on a pre-tax basis.– The money is held until you have a qualified expense– You will receive a credit card to pay for qualifying expenses or you can
email your claims and receipts to [email protected] – If emailed, the claim is reviewed and tax-free reimbursements are made
to you by direct deposit.
*IF YOU DON’T USE THE MONEY, YOU LOOSE IT!!
Flexible Spending Account
Dependent Care FSA– Who is eligible?
• Child under 13 (over 13 if physically incapable of self care)• Spouse or parent who resides with you and incapable of self care
– Eligible Expenses• Day care facility• Before/After School Care• Summer Day Camp• Nursery school or preschool, if child is too young for Kindergarten
(Private school tuition K4 and above is not eligible.)• In home babysitting fees, if claimed as income by care provider and
not provided by dependent
Flexible Spending Account
Health Care FSA – Eligible Expenses
• Co-payments• Deductibles• Prescription Drugs• Dental Services• Braces• Eye examinations• Contacts/Eyeglasses
Healthcare FSA Dependent Care FSA
Maximum Contribution $4,000.00/year $5,000.00/year
Minimum Contribution $100.00/year $100.00/year
Administrative Fee $5.10/month
• Hospitalizations• Surgery Expenses• Chiropractors• Podiatrists• Hearing Aids• Laboratory Fees• Acupuncture
Flexible Spending Account
Example:Assuming an employee has an Annual Gross Income of $30,000
and is in the15% tax bracket:
With FSA Without FSA
Gross Monthly Pay $2,500.00 $2,500.00
Minus FSA Contribution -$360.00 N/A
Taxable Income $2,140.00 $2,500.00
Minus Taxes -$321.00 -$375.00
Net Income $1,819.00 $2,125.00
Plus FSA Reimbursement +$360.00 N/A
Total Monthly Pay $2,179.00 $2,125.00
Monthly tax saving = $54.00; Annual tax savings = $648.88
Note: Savings are greater for persons in higher tax brackets
Long-Term Disability
– Affordable financial protection against a disabling illness or injury
– 60% of salary is insured
– Payable once 90 consecutive days of work are missed & sick leave is exhausted
– Employee is guaranteed coverage if enrolled within the first 30 days of employment.
– Monthly salary X .00553 = monthly premium (see right)
– Deductions are immediate and are taken from all 26 checks.
Annual Salary
Monthly Salary
Monthly Amount
Bi-Weekly Amount
$12,000 $1,000 $5.53 $ 2.55
$15,000 $1,250 $6.91 $3.19
$18,000 $1,500 $8.30 $3.83
$20,000 $1,667 $9.22 $4.25
$25,000 $2,083 $11.52 $5.32
$30,000 $2,500 $13.83 $6.38
$35,000 $2,917 $16.13 $7.44
$40,000 $3,333 $18.43 $8.51
$45,000 $ 3,750 $20.74 $9.57
$50,000 $4,167 $23.04 $10.63
$55,000 $4,583 $25.35 $11.70
$60,000 $5,000 $27.65 $12.76
$65,000 $5,417 $29.95 $13.83
$70,000 $5,833 $32.26 $14.89
$75,000 $6,250 $34.56 $15.95
$80,000 $6,667 $36.87 $17.02
$90,000 $7,500 $41.48 $19.14
$100,000 $8,333 $46.08 $21.27
Long-Term Care
Guaranteed issue for employee and spouse if elected within first 30 days of employment
Choose a benefit amount of $1,000 to $4,000 per month, in increments of $1,000, with a benefit duration of either three or six years
May elect coverage for parents and grandparents after medical underwriting
Benefits paid for a cognitive loss or when person can no longer perform 2 of the 6 “Activities of Daily Living”
Before benefits are payable, a 60-day waiting period requirement must be met.
Benefit payments are made directly to you, to be used at your discretion
Classified Leave
– All job appointment, probationary and permanent classified Civil Service employees earn sick and annual leave.
– Part-time Civil Service employees earn a pro-rated amount based on their hours worked.
– There is no maximum amount of leave an employee may accumulate.– When leaving state service, up to 300 hours of annual leave will be paid
out; sick leave will not be paid out.– If you return to state service within 5 years, unpaid annual and sick time
will be restored.– At retirement, leave can be converted to service credit or paid out.
Civil Service Accrual System
Years of ServiceSick and Annual Hours
Earned Per Pay PeriodApproximate Days Earned
Per Year
0-3 3.688 12 days annual/12 days sick
3-5 4.608 15 days annual/15 days sick
5-10 5.536 18 days annual/18 days sick
10-15 6.456 21 days annual/21 days sick
15+ 7.384 24 days annual/24 days sick
Savings Plans
LA Deferred Compensation(457b) & 403b– Both are defined by the IRS as retirement savings accounts.– Your contributions are made pre-tax.– You pay taxes on the money when you make a distribution after
retirement.– IRS limits: $17,000/year and an additional $5,500/year if 50+– You decide how the money is invested.– You can roll money into account from other retirement plans, – To sign up for 403(b) you must contact the individual vendor.
Savings Plans contacts
Daniel G. Misse
(504) 620-5569
(504) 710-7766 (cell)
Cliff Lloyd
(985) 969-2839 (cell)
(225) 300-1528
Mark DiGiovanni
504-644-5013
Mitchell Tabor
(225) 201-1009
(504) 810-8626 (cell)
DEFERRED COMPENSATION-457
C. David Arriaza
(985) 445-6642
(800) 937-7604
(225)-926-8082
KeyTalk
1-800-701-8255
www.LouisianaDCP.com
Credit Unions
Credit Unions Address Phone/Web-Site
Campus Federal Credit Union
433 Bolivar St. New Orleans, LA 70112
504-568-8425888-769-8841
www.campusfederal.org
Fleur De Lis Federal Credit Union
1450 Poydras St. 6th Floor, Room 628
New Orleans, LA 70112
433 Metairie Rd.Suite 114
Metairie, LA 70005
504-838-5456 800-256-9072
www.fdlfcu.com
LA Capitol Federal Credit Union
3197 Richland Ave.Metairie, LA 70002
504-888-4290www.lacapfcu.org
Additional Benefits
LA Start Saving Program– Saving money for college expenses for your children’s or
grandchildren’s college or vocational education– Earnings enhancements between 2% and 14%– Up to $2,400 per year may be excluded from taxable income
reported on the account owner’s Louisiana tax return– Earnings are tax deferred while in the account and are exempt
from state and federal taxes when used to pay qualified higher education expenses
– http://www.startsaving.la.gov
BEFORE LEAVING FOR LUNCH
All Employees must :
Turn in your completed Benefits forms in the back of the room.If not electing to take benefits you need to turn in the forms declining them. Pool Employees may leave for lunch if they turned in their forms after the pool
benefits presentation.
All employees may go to lunch when finished with your Benefits paperwork.
If you have not already done so, contact your manager to find out what time to report to work after orientation.
The afternoon session begins promptly at 12:00 pm. Kindly return by 11:50 am so you can be settled and ready to begin the first afternoon presentation. The lecture on Prisoner Safety is from 12:05pm – 12:10. If you are late you will miss it.
Thank you and enjoy your lunch.
The afternoon session begins at 12:00 p.m. Please return by 11:55 a.m. so you will be seated and ready to start on time.
LUNCH