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New Employee Orientations PowerPoint Presentation

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On : Jun 04, 2015

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  • Slide 1 - New Employee Orientation UCF Benefits Section (407) 823-2771 benefits@ucf.edu
  • Slide 2 - Agenda Insurance Who is People First? How to Enroll in Benefits Available Plans at UCF Other Benefit Resources Q&A Retirement Retirement Plans at UCF How to Enroll in a Retirement Plan Re-Employment Restrictions Q & A
  • Slide 3 - New Employee Benefits Guide Please ensure you have access to the New Employee Benefits Guide, which is used in conjunction with New Employee Orientation.
  • Slide 4 - Who is People First? Plan administrator for State of Florida insurance, including state universities like UCF Responsible for the following: Plan Enrollments Dependent Eligibility Qualifying Status Changes Open Enrollment COBRA
  • Slide 5 - Using People First to Enroll Online https://peoplefirst.myflorida.com User ID and Password Required Service Center 1-866-663-4735 Available Monday-Friday 8:00am to 6:00pm ET To Receive User ID: Employee’s information is keyed to UCF system Daily electronic file is submitted to People First People First mails packet (including UserID) to employee’s home
  • Slide 6 - Default password: Pf + Birth date (PfMMDDYY) Enter ID and Password
  • Slide 7 - People First will not send an enrollment packet until they have all the necessary information, including a valid Social Security Number and a valid address. Missing information can cause a delay in the start of health coverage for you and your family. International Employees
  • Slide 8 - Rehire/Transfer Employees If you are rehired or transferring from another State University within 26 weeks or Are rehired/transferring from another non-university State agency within 13 weeks: You are not considered a new employee in terms of benefits enrollment by the State. The benefits that you were previously enrolled in will be reinstated upon your rehire without a Qualified Status Change event to cancel or change benefits. If you are transferring from another State Agency, a new UCF People First ID will be assigned to you by People First.
  • Slide 9 - Employees have 60 days from hire date to enroll in insurance. Employees in regular positions may elect health insurance to begin the month after they are hired – this is called an early effective date. For example, if you are hired in June, you can start your health insurance July 1. Note: The state currently does not offer an early effective date to OPS employees. The eligibility requirements for the early effective date include: A new employee’s information must be in the People First system. The first full month’s premium must be received. Insurance Effective Dates
  • Slide 10 - Changing Insurance Employees have two ways to change insurance elections after 60-day enrollment window: Qualifying Status Change Marriage, divorce, birth of child, spouse insurance termination, etc. Employees have 60 days from event to contact People First. Open Enrollment Held each fall Coverage effective January 1 of following year
  • Slide 11 - Eligible Dependents Spouse Children (up to age 26) May be eligible until 30 if they meet certain criteria: Unmarried, no dependents of their own, are dependent on you for financial support, live in Florida or attend school in another state and have no other health insurance. Children with Disabilities may be covered after age limit if they meet certain criteria.
  • Slide 12 - State Benefit Programs The State of Florida offers the following insurance: Pre-tax Options Health, Basic Life, Dental, Vision, Medical Reimbursement Accounts, Health Savings Account, Other Supplemental Insurances Post-tax Options Optional Life Insurance elections must be made through People First.
  • Slide 13 - Health Insurance First available effective date = First day of the month following enrollment If early effective date is elected: Pay first month’s premium via personal check/money order Payment can be mailed directly to People First Following premiums will be automatically deducted from UCF paycheck (biweekly) Continued…
  • Slide 14 - People First must receive your premium before sending coverage update to insurance carrier If People First does not receive premiums prior to the 2nd day of the month, you will receive a certified underpayment letter in the mail Delay in premiums = Delay in carrier showing coverage Coverage will be retroactive Insurance cards mailed after effective date Continued…
  • Slide 15 - Types of Health Insurance: PPO Florida Blue (Blue Cross Blue Shield) HMO (In-Network Only) AvMed {Florida Counties Only} Aetna {Brevard County Only} Plan Options: Standard Health Investor Health Plan (HIP) Continued…
  • Slide 16 - Health: Standard Option Premiums listed are for Full-Time employees 9-Month faculty will be double-deducted during Spring months to pay for Summer coverage Continued…
  • Slide 17 - ppt slide no 17 content not found
  • Slide 18 - Health: HIP Option Health Investor Option offers a choice of PPO or HMO Note: Same providers as Standard option Employee assumes greater responsibility with healthcare Lower Premiums High Deductibles Including the HMO plan Participation in Health Savings Account (HSA) to offset out-of-pocket expenses Limited Purpose Medical Reimbursement Account Continued…
  • Slide 19 - Premiums listed are for Full-Time employees 9-Month faculty will be double-deducted during Spring months to pay for Summer coverage
  • Slide 20 - Health - Comparison Deductibles: Standard vs. HIHP
  • Slide 21 - Health: HIHP Option Under “HIHP” plans, you are responsible for 100% of medical bills and prescription costs until annual deductible has been met.
  • Slide 22 - HIHP: Health Savings Account Employees enrolled in HIHP are able to participate in HSA to pay for out-of-pocket medical expenses on a tax-free basis Account earns interest, functions as tax-free savings account Participation is voluntary UCF will contribute $500/year for individual and $1,000/year for family Employees may contribute up to $2,850/year for individual and $5,550/year for family Continued…
  • Slide 23 - How Does It Work? Enrollment not automatic! After enrollment through People First, employees must complete bank application (Tallahassee State Bank) Receive a debit card and checks: Pay eligible healthcare expenses directly or reimburse yourself for eligible healthcare expenses Accumulated Balance Funds remaining in account at year-end roll over to future years Funds in account are portable Disclaimer: $3/month maintenance fee (for balance under $5,000)
  • Slide 24 - Reimbursement Accounts The state offers eligible employees three Reimbursement Accounts (also called Flexible Spending Accounts or FSAs): Medical Reimbursement Account Limited Purpose Medical Reimbursement Account Dependent Care Reimbursement Account How do Reimbursement Accounts Work? You set aside pre-tax dollars from your paycheck. You submit eligible expenses for reimbursement throughout the year. You are reimbursed from your Reimbursement Account for the eligible expenses that you submit. How to File Claims for Reimbursement: Incur expense (pay out of pocket) Submit claim form to People First (include receipts) or use convenience debit card “USE IT OR LOSE IT” Rule Continued…
  • Slide 25 - Medical Reimbursement Account Annual contribution: $60 - $2,550 Eligible expenses: Deductibles, copayments, dental and vision care expenses, orthodontia not covered by a dental plan, prescription drugs, chiropractic visits, saline solution and contact lens cleaners, procedures or expenses that are medically necessary, etc. Balance is available immediately Limited Purpose Medical Reimbursement Account FSA plan for HIHIP Plans Not available for medical expenses Continued…
  • Slide 26 - Dependent Care Reimbursement Account Annual contribution: $60 - $5,000 Eligible expenses: Care for a child, disabled spouse or qualified relative who is dependent on you and needs care so that you (and your spouse if you’re married) can work. Examples: Daycare, elder care Accumulated balance Continued…
  • Slide 27 - Reimbursement Account Comparison
  • Slide 28 - Prescription Drugs CVS Caremark Download CVS Caremark’s smartphone app to manage your account, see your ID card and more! Your health insurance card is not used for prescriptions. You will receive a separate prescription card from CVS Caremark.
  • Slide 29 - Dental Continued…
  • Slide 30 - Considerations for choosing a dental plan: Compare the four types of options Check to see which dentists/specialists are available in each plan Think about your dental care needs Premiums differ by dental plan Coverage level determines premium: Employee Employee + Spouse Employee + Child Employee + Family
  • Slide 31 - Vision Vision Care Plans administered through Humana Option 1: Exam + Materials Continued…
  • Slide 32 - Vision
  • Slide 33 - State Life Insurance Underwritten By Minnesota Life Basic Life Group Term Includes Accidental Death and Dismemberment (AD&D) Value: $25,000 No Cost to Full Time Regular Employees Optional Life Group Term Includes Accidental Death and Dismemberment (AD&D) Value: 1 - 7x annual salary in addition to Basic Life, up to a maximum benefit of $1,000,000 Employee pays 100% of premium Policy for employee only Beneficiary designation – online or by mailing a form
  • Slide 34 - Other Supplemental Plans Hospitalization Cigna & New Era Cancer/Intensive Care AFLAC & Colonial Accident/Disability Colonial Required to meet with company representative, complete medical underwriting Plans can either work in conjunction with or independently from health insurance Coverage effective date determined by People First
  • Slide 35 - The Gabor Agency Additional options available through The Gabor Agency: Long Term Disability Life Insurance Long Term Care Options are on a post-tax basis Employees may cancel plans at any time No annual open enrollment period How To Enroll: Contact local Gabor Representative to enroll: (800) 330-6115 Ext. 5
  • Slide 36 - Other Employee Benefits Sick Leave Pool Employed 1 year & accumulate 64 hrs sick leave Tuition Waiver 6 credit hours per semester UCF classes (employee only) Employee Assistance Program (EAP) Free/Confidential Counseling Service Expectant Mother Parking Available Apply through the Center of Success of Women Faculty Pegasus Perks Abenity (discount administrator) Register with UCF email address www.abenity.com/UCF Payroll Deduction (Post-Tax) Florida Pre-paid College Plan Health & Wellness Resources Health Center (Doctors/Rx) Pegasus Clinic Wellness Research Center Dental Clinic Public Service Loan Forgiveness Program Additional information on HR website
  • Slide 37 - Workers Compensation DO NOT SEE PERSONAL DOCTOR IF INJURED ON THE JOB. These injuries are not covered by regular medical insurance Contact Leave of Absence/Workers Compensation 407-823-2771 loaandworkcomp@ucf.edu
  • Slide 38 - Annual Events Retirement & Investment Series: Spring (April) Presentations throughout the month Benefits Fair: Fall (October) Insurance & Retirement vendors available Learn about benefit changes for the upcoming year
  • Slide 39 - Insurance Recap People First How to Enroll Enrollment Deadlines Available Insurance Plans at UCF Resources Any Questions?
  • Slide 40 - Retirement Plans FRS - Pension Plan Defined Benefit FRS - Investment Plan Defined Contribution State University System Optional Retirement Program (SUSORP) Defined Contribution College of Medicine = Mandatory FICA Alternative Plan (FAPLAN) Mandatory & Automatic for all OPS Non-Students, Adjunct Faculty, Post-Doctoral Associates and Medical Residents
  • Slide 41 - ppt slide no 41 content not found
  • Slide 42 - FRS Pension Plan vs. FRS Investment Plan 8 year vesting Employee mandatory 3% Employer contribution based on percent (4.04%), benefit based on a formula 1 year vesting Employee mandatory 3% Employer contributions based on percent (3.30%)
  • Slide 43 - State University System Optional Retirement Program (SUSORP) Defined Contribution – 5.14% Employer (Automatic) 5.14% Employee (Elective) 3.00% Employee (Mandatory) Immediate Vesting Eligible employees who do not enroll in the ORP within 90 days will be irrevocably placed in the FRS Pension.
  • Slide 44 - How To Enroll In Retirement Plans
  • Slide 45 - FICA Alternative Plan (FAPLAN) Enrollment is automatic and mandatory for: Post-Doctoral Associates OPS Non-Students Adjunct Faculty Medical Residents Money is deposited into a private retirement plan instead of Social Security. Participants contribute 7.5% of their compensation to an account in their name. Employees who were previously employed in an OPS position and contributed to the FICA Alternative Plan, who are now employed in a benefits eligible position (A&P, Faculty or USPS), are permitted to move their funds via directed rollover, into any non-ORP 403(b) within UCF’s plan.
  • Slide 46 - Voluntary Retirement Options Employees who wish to make voluntary contributions may do so through the following options: Voluntary Contributions are in addition to FRS or SUSORP plans UCF does not match voluntary employee contributions Enrollment/Changes can be made at any time during the year
  • Slide 47 - 2015 IRS Max: $18,000: Employees under age 50 $24,000: Employees age 50 and older
  • Slide 48 - Reemployment Restrictions You are considered a retiree if any portion of your FRS Pension, FRS Investment or SUSORP benefit after 7/1/2010 is: Received Withdrawn Rolled over/transferred This is regardless of age. You can be an FRS “retiree” in your 20’s or 30’s If you are considering re-employment, remember: Minimum of (6) full calendar months before you can be rehired You will be financially liable for repayment if in violation Rehired retirees are not eligible for renewed membership in any State of Florida retirement plan
  • Slide 49 - Retirement Recap Available Retirement Plans at UCF How to Enroll Enrollment Deadlines by Plan Retirement Resources Any Questions?
  • Slide 50 - The UCF Human Resources Benefits department now offers a bi-weekly insurance and retirement enrollment lab to assist employees in completing their insurance and retirement enrollments. During these one-on-one sessions, key features of the benefits plans can be compared and issues can be addressed, which need to be considered when making election decisions. The enrollment lab will be held every other Tuesday from 2:00 p.m. to 4:30 p.m. in the Human Resources Training Room. The sessions are available by appointment only. To make an appointment, please call or email the UCF Benefits department: Call: (407) 823-0559 Email: Benefits@ucf.edu
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