5.19 Group Insurance
Purpose
To provide insurance coverage for full-time employees of Rochester University.
Scope
Full-time employees of Rochester University.
Policy
Rochester University provides a group benefit plan for full-time employees. Some benefits under the plan are employer paid and others are employee paid. Each benefit is described below. More details are also available in the Human Resources office.
Employees are eligible for benefits on the first day of the month following date of hire. Premiums owed for optional or buy up benefits are deducted beginning with first paycheck of the month of eligibility. Benefits are effective on the date of hire for employees hired on the first day of the month.
Changes to benefit plans may only be made at open enrollment or when a life event occurs. Eligible life events include but may not be limited to:
- Marriage
- Divorce or legal separation
- Birth or adoption of a child
- Change in work status
5.19.1 Medical Insurance
Rochester University’s benefit year runs January 1 – December 31 of each year. All full-time employees are required to go through an open enrollment process each year to select or waive coverage in the group plans. Open enrollment is typically in November of each year for the following benefit year. Employees must complete required online documentation prior to the deadline or all benefits for the following benefit year are forfeited.
Rochester University requires all full-time employees be covered by a health insurance plan. The college provides a variety of plan options for employees to choose from each benefit year.
5.19.2 Dental and Vision Insurance
Dental and Vision insurance is available with an employee paid premium. Employees may purchase dental and vision insurance for themselves, their spouse and dependent children.
5.19.3 Group Life, Accidental Death and Dismemberment (ADandD) and Long Term Disability Insurance (LTD)
Rochester University provides group life, AD&D and LTD insurance to all full-time employees.
The college provides basic group life and AD&D insurance at one (1) times the employee’s annual salary up to a maximum of $50,000. Rochester University calculates hourly employees benefit by multiplying the hourly pay rate by 2080.
Additional details are available on the benefits plan source website or the Human Resources Office.
5.19.4 Flexible Spending Account (FSA)
Employees may set aside a portion of their earnings, tax-free, for everyday expenses relating to:
- dependent care expenses
- out-of-pocket medical expenses and prescription drug co-pays.
Employees may elect to participate in the dependent care account and/or the medical account. Rochester University caps the amount employees may set aside in the accounts. The maximum annual amounts are $2,550 for medical coverage and $5,000 for dependent care. More details and qualifying expenses are available in the Human Resources Office.
5.19.5 Voluntary Life Insurance
An employee may elect to purchase additional life insurance on his or her self, spouse and children. An employee may purchase up to $500,000 of additional life insurance. The employee may purchase up to $100,000 of life insurance for a spouse, as long as the amount is equal to or less than the insurance purchased on the employee. The maximum child benefit is $10,000 per child.