Benefits Specialty Center Update Specialty Center Update Benefits
Benefits Specialty Center Update
Specialty Center Update Benefits News Open Enrollment, 2017 Begins: Oct 27, 2016, 8: 00 am § Ends: Nov 22, 2016, 5: 00 pm sharp! üAll open enrollment changes are effective Jan 1, 2017 2
Benefits Specialty Center Update Disability Plan Open for Enrollment – New Plan Design § Key Drivers For The Change: • Current state of the disability benefits program not sustainable from a cost perspective • Short term and part time employees have no disability protection • Employees want options that not only provide income protection but also support their individual needs and financial goals 3
Benefits Specialty Center Update Disability Plan Open for Enrollment – New Plan Design Key Changes: • Eligibility is being expanded to employees in Core and Mid-Level Benefits (currently only offered to employees with Full Benefits) • Employer paid disability insurance continues - change to 14 day waiting period* • Employee paid voluntary ‘supplemental disability’ insurance is being split into two employee paid options – employees can enroll in one or both options ‒ Short term disability – 14 day waiting period* ‒ Long term disability – 6 month waiting period ‒ The disability benefit paid out during an approved disability is changing from 70% to 60% of pre-disability income 4 *Still requires up to 22 working days of sick leave be used if available
Specialty Center Update Disability Plan Open for Enrollment –New Plan Design UC Paid Basic Disability Insurance: Current 2017 Plan Design Disability Insurance Short Term Waiting Period 7 Days* (or parallels Supplemental Disability) 14 Days* % of Pre-Disability Income Paid 55% up to $800 per month 55% up to $800 Benefit Period Up to 6 months *Still requires EE to use 22 working days of S/L if available 5
Benefits Specialty Center Update Disability Plan Open for Enrollment – New Plan Design Employee Paid Voluntary Disability Insurance: Current Disability Insurance Waiting Period % of Pre-Disability Income Paid Benefit Period 6 2017 Plan Design 2 Options (elect 1 or both options) Short/Long Term Short Term Long Term 7, 30, 90, or 180 14 Days* 6 Months Days* Combines with Pays up to 60% Employee paid of pre-disability benefit to pay up income, up to to 70% of preto 60% of pre$15, 000 per disability income, month up to $15, 000 per up to $15, 000 month per month Up to age 65** Up to 6 months Up to Social Security Retirement Age**
Benefits Specialty Center Update Disability Plan Open for Enrollment – New Plan Design § Next Steps: • UCOP is still developing online tools, resources, and a premium calculator to support informed decision making • Employees just received a direct mail postcard announcing these changes prior to Open Enrollment • Locally we are working on communication and education plans • For more details go to the Disability Insurance link on the UCnet site, or enter 2017 Disability in the ‘search box’ 7
HR Liaison Social
Specialty Center Update Disability Plan Open for Enrollment – Significant Design Changes § Employee Paid Disability Insurance: UC Paid Disability Insurance Waiting Period % of Pre-Disability Income Paid 9 Short Term 14 Days* 55% of predisability income, up to $8, 00 per month 2017 Voluntary Disability Coverage 2 Options (elect 1 or both options) Short Term Long Term 14 Days* 6 Months Combines with Employee paid benefit to pay up to 60% of predisability income, up to $15, 000 per month Pays up to 60% of pre-disability income, up to $15, 000 per month
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