Part-time employees’ health insurance premium increase begins March 7
Based on 2013 legislative changes, UF will pay higher rates for its employees’ health plans beginning with the March 7 paycheck. Benefits-eligible, full-time (i.e. 30 hours per week or .75FTE or greater) UF employees will continue to pay the same amount as in 2013; however, part-time employees will experience a proportional increase based on their full-time equivalency (FTE)—beginning in March—for April coverage.
New biweekly contributions for full-time employees:
|Coverage Type||Employee||Employer||Total Contribution|
Premium contributions for part-time employees may be calculated using this formula:
- Step 1: (employer contribution) x FTE = (calculated employer contribution)
- Step 2: (total contribution) – (calculated employer contribution) = (employee’s contribution)
For example, an employee with individual coverage of .50 FTE would calculate his or her contribution as follows:
- Step 1: $295.76 (bi-weekly) x .50 FTE = $147.88 (bi-weekly)
- Step 2: $320.76 (bi-weekly) – $147.88 (bi-weekly) = $172.88 (bi-weekly)
The employee would pay $172.88 per biweekly pay period.
Employees may elect to cancel this plan as a qualifying status change (QSC) due to a significant cost increase only if the increase is at least $20 per month. Cancellations must be completed within the 60-day QSC window; otherwise, you must wait until a subsequent qualifying event occurs or cancel during the next open enrollment.
Employees who have questions or concerns about these changes should contact University Benefits and Retirement at 392-2477 or firstname.lastname@example.org.
Premium increase for over-age dependent health plan coverage
As a result of legislative action, effective March 2014 for April coverage, employees enrolled in the over-age dependent health plan for dependents ages 26 to 30 will experience a rate increase from $587.74 to $641.52 for each over-age dependent covered.
Employees may elect to cancel this plan as a qualifying status change (QSC) due to a significant cost increase only if the increase is at least $20 per month. Cancellations must be completed before the 60-day QSC window; otherwise, you must wait until a subsequent qualifying event occurs or cancel during the next open enrollment.
For questions regarding the premium increase, please contact University Benefits and Retirement at (352) 392-2477 or email@example.com.