Benefits The Mount has established a variety of benefit programs designed to help you and your family meet medical emergencies, deal with job related or personal problems and plan for your retirement. While this site highlights some features of these benefit programs, these programs and the terms and conditions of your participation in them are subject to change at any time. More detailed information about most of these programs is available by contacting your HR staff. All full-time employees will receive Ben-Elect Dollars equal to 4.5% of their annual salary to be included in the employee’s paycheck. The employee has the option to use all or a portion of these funds to offset the cost of benefits chosen through the benefit enrollment process or to invest in the Mount’s retirement program. More details will be provided at the New Employee Orientation. Dental The Mount offers a comprehensive package of dental benefits for employees and their families. On the first day of the month following full-time employment, an employee is eligible for one of two options of coverage through United Concordia. Employees may choose to enroll under three levels of coverage: - Employee Only
- Employee Plus One (spouse or child)
- Employees Plus Two or More (family)
United Concordia Advantage Plus Option
The Advantage Plus Option offers one of the largest network in the country. Members have the freedom to choose any dentist; have a variety of incentives and lower out-of-pocket cost options when an in-network dentist is selected; no paperwork for patients to file. All covered dental procedures, except diagnostic and preventive services, are subject to an annual per person deductible of $50 with a family limitation of $150 regardless of the number of patients in the family. The deductible is waived for diagnostic and preventive services. Most services are covered at 100% with the exception of crowns, dentures and bridgework which are covered at 50%. There is a $1,200 annual maximum per person. Contact the Human Resources Office for plan details. Concordia Plus (DHMO)
The Concordia Plus Plan is a national Dental Health Maintenance Organization (DHMO) with more than 62,700 dentists participating nationally, in which members select a dentist from a panel of participating providers. Dentists are paid a set, monthly fee that covers most of the services members need. Concordia Plus offers a network of providers that are assessed for experience, range of services, location, accessibility and the ability to accommodate new patients; minimal and/or no patient co-payments for preventative care; quality and affordable dental care; no paperwork for patients to file. For a list of participating dentists or more information for either of these plans, visit www.unitedconcordia.com or call United Concordia at (800) 3932-0366 or contact the Human Resources office. Health The Mount offers a comprehensive package of health benefits for employees and their families. On the first day of the month following full-time employment, an employee is eligible for the CIGNA Health Plan. To find out more about your CIGNA plan, please go to www.mycigna.com.
Employees may choose to enroll under three levels of coverage: - Employee Only
- Employee Plus One (spouse or child)
- Employees Plus Two or More (family)
The Mount currently pays 75% of the total premium regardless of level of coverage for all full-time employees. The employee’s share of the premium (25%) will be deducted from the employee’s paycheck on a pre-tax basis. An employee may wish to waive coverage under the Mount’s medical plan. To do so, however, the employee must provide the University with the name and policy number of the employee’s other medical coverage. This is necessary to ensure that all Mount employees are in some way protected from today’s spiraling medical costs. Freedom of Choice
If you choose to have medical care provided by a physician or hospital within the Open Access Plus Network you will receive the highest level of benefits for your care. Network providers may be located by going to www.mycigna.com. However, you may choose to receive care from a health care provider outside the Open Access Plus Network.
If you choose to go outside the network for service or care you must meet a deductable and pay coinsurance. Prescription Drug Benefit
This program is based on the Cigna's three tier program formulary, which encourages the use of generic drugs and certain brand-name drugs. Under this program you pay a different copay depending on whether you receive a generic drug, a prefered brand-name drug, or a non prefered brand name drug. Always remember to talk to your doctor about using generic prefered brands that can save you money. You and your doctor should check the three teir program list before you receive a prescription. An updated copy is available at www.mycigna.com. In addition, maintenance drugs are available for a 30-day to 90-day supply. Alternative Therapies
Your enrollment in the Mount’s medical plan also entitles you to membership in the Cigna Healthy Rewards program which provides discounts on a wide variety of health and wellness services: including weight management, smoking cessaation, and more. More information is available at www.mycigna.com. Cigna Healthcare also has available for your convenience a 24 hour health information line that connects you to a registered nurse and a library of hundreds of recorded programs on health topics 24 hours a day, 7 days a week. Life The Mount offers a variety of life insurance policies for employees and their families. On the first day of the month following full-time employment, an employee is automatically enrolled in a Basic Life and AD&D policy under Aetna Life Insurance Company at no cost to the employee. Employees may choose to purchase additional amounts of life insurance for themselves and/or the spouse and dependent children. Basic Life and AD&D: The Mount provides a $10,000 policy covering all full-time employees on the first day of the month following full-time employment. Additionally, the Mount’s basic plan includes Accidental Death and Dismemberment (AD&D) coverage in the event that a loss of life or limb occurs due to an accident while covered under this plan. You name your beneficiary and may change your choice of beneficiary at any time by completing a Beneficiary Form. Supplemental Life Insurance: The employee may choose to purchase an additional amount of life insurance and the premiums can be deducted on a pre-tax basis from the employee’s paycheck. The premiums for supplemental life insurance are based on the age of the employee and can be purchased in increments of annual salary (1x, 2x or 3x annual salary). You name your beneficiary and may change your choice of beneficiary at any time by completing a Beneficiary Form. Dependent Life Insurance: The employee may choose to purchase one of two options of life insurance for spouse and/or dependent children. The premium is deducted from your paycheck on an after-tax basis. - Option 1: $2,000 policy for spouse/ $1,000 policy for each dependent child
- Option 2: $4,000 policy for spouse/ $2,000 policy for each dependent child
Retirement As a full-time Mount employee, you are eligible to enroll in one of two available retirement programs: Teachers Insurance Annuity Association-College Retirement Equity Fund (TIAA-CREF) or Metropolitan Life (MetLife). Either program is designed to give you an income when you retire which is in addition to your Social Security benefit. Tax advantages are an important reason why the Mount provides this Plan. You do not pay taxes on the money the College contributes to the Plan when it is deposited in your account. Also, you do not pay taxes on the earnings of your account as they build up. You will pay taxes only when you receive payments from the Plan. By that time, you are likely to be in a lower tax bracket. This summary will help to answer some of the questions you may have about the Plan. Please read this summary carefully and talk it over with your family. If you have any questions, please feel free to contact the plan sponsors directly or stop in or contact the Human Resource Office. Eligibility
You are eligible to join the Mount’s retirement plan if you are 21 years of age and are a full-time employee of the Mount. You may choose to contribute a fixed dollar amount or percentage of your salary into one of the two available retirement programs on a tax-deferred basis. While there is no minimum contribution required; the Internal Revenue Code enforces a maximum amount that can be tax-deferred by employees. Regardless of whether or not you choose to contribute into the Plan, the Mount will contribute an amount equal to 6% of your salary into one of the two available retirement options on your behalf. The contribution begins on the first day of the month following your date of full-time employment. Building your Portfolio
To start your retirement plan, you’ll need to allocate your contributions among the fixed and variable annuity accounts listed with both retirement options. You can change your allocation of future contributions at any time, and you have considerable flexibility in transferring funds among accounts. How do I enroll?
Mount Contribution: The Human Resources Office will enroll all full-time employees upon orientation. The Mount’s contributions will begin on the first day of the month following employment. Employee Contribution: an employee may choose to contribute any portion of their salary by completing a Salary Reduction Form. Additional forms may be required depending upon the choices made by the employee and are available in the Human Resources office. How much can I contribute towards my retirement?
There is a contribution limit that applies to Tax Sheltered Annuities. In the calendar year 2004, your contribution is limited to a total amount of $15,500. There are, however, special provisions to allow you to contribute more if: - you are 50 years of age or older
- you have been employed at Mount Saint Mary’s for 15 years or longer
If you are 50 or older, you may increase the $15,500 maximum by $5,000 in 2007. And if you have been employed for more than 15 years, you can have a maximum contribution illustration done that may increase your $15,500 maximum by another $3,000 in 2007. (See the Human Resources Office for the details.) It is important to remember that any contributions you make to the plan are on a pre-tax, before tax, basis and reduce your taxable income in the year contributed. Also, any earnings generated in your account grow on a tax-deferred basis.
More About the Retirement Options
TIAA-CREF MetLife
Vision
Vision Care Plan The Mount offers a discounted vision care plan for employees and their families. On the first day of the month following full-time employment, an employee is eligible for coverage through EyeMed Vision Care – The Eye Care Plan of America (ECPA). Employees may choose to enroll under three levels of coverage: Employee Only Employee Plus One (spouse or child) Employees Plus Two or More (family) Premier Plan
Eye Med (ECPA) members enjoy these key benefits: Members can choose from over 20,000 independent providers, including optometrists, opthamologists, and opticians and retail chains such as LensCrafters. Provider information is always available toll-free at (866)939-3633 and at www.eyemedvisioncare.com. Members simply present their membership card to an EyeMed provider, pay their co-payment and EyeMed Vision Care will take care of the rest. This eliminates any paperwork for you if you go to an in-network provider. If members choose a non-participating provider, they can get reimbursed for $35 for basic eye exams. Detailed information on co-payments is available from the Human Resources Office or contact EyeMed Vision Care directly. Real Savings Always Available You will see significant savings on eye examinations, contact lenses, lens options, and accessories of up to 40% off of retail price when using your EyeMed vision care benefits. Some of the nation’s most highly qualified laser vision correction surgeons are available offering 15% off retail prices and 5% off promotional prices. Reimbursement Accounts The Mount offers an innovative way to save money: two separate tax-free accounts that reimburse you for either health care or dependent care expenses not covered under your insurance plans. To learn more about Health Flexible Spending Arrangement, click here. You may establish one reimbursement account for health care expenses and another one for dependent care expenses. You decide on the amount you want to put into the account(s) each pay period. That amount is then deposited to the appropriate reimbursement account before federal, FICA and state taxes are deducted. When you have health or dependent care expenses, you reimburse yourself for these out-of-pocket expenses, using these tax-free funds. However, there is a caution. You need to plan carefully for the expenses you will actually have during the course of the year. Any money that you choose to have deposited in a reimbursement account cannot be returned to you if you do not spend it by the end of the year. If you don’t use it during the course of the year, you lose it. This is a requirement of the federal government. Allocations toward reimbursement accounts are made for a calendar year – from January 1st through December 31st. During open enrollment each year, you will have the opportunity to reenroll for the following calendar year and determine your expected expenses for that year. Changing your Election
Your election may not be changed during the calendar year unless one of the following occurs:
- A change in your marital status
- The addition or loss of a dependent
- Termination of your spouse’s employment or loss of eligibility for coverage by your spouse under a group medical plan sponsored by your spouse’s employer
- A change in your eligible class
You must make the change within 30 days after one of these events occurs. It will become effective on the day you submit the new election form and will remain in effect for the balance of the year. Health Care Reimbursement Account
You may use this reimbursement account for health care expenses such as deductibles, coinsurance/copays, noncovered health expenses, noncovered dental expenses, eye care expenses (such as contact lenses, eye exams and glasses), hearing expenses, and over-the-counter medications. All of these may be paid with before tax dollars and save you money. Any medical expense that is allowed as a deduction on your tax return is allowed as a reimbursable health care expense. Remember though, if you use your reimbursement account to pay for a health care expense, you may not also claim that same expense on your tax return. The reimbursement account may be used for your expenses and for your dependent’s expenses. You may deposit up to $2,500 annually into the Health Care Reimbursement Account. As you incur eligible expenses during the year, you pay the expenses out of your pocket, and then submit a claim for reimbursement from the account. Dependent Care Reimbursement Account
Currently, childcare costs are paid after you receive your paycheck. Now you may reimburse yourself through the reimbursement account for the cost of dependent care while you and your spouse are at work. You may deposit up to $5,000 a year into this account ($2,500 if married and filing a separate income tax return). In general, any dependent care expenses you are allowed to report on your individual Internal Revenue tax return are eligible reimbursement account expenses. As you incur eligible expenses during the year, you pay the expenses out of your pocket, and then submit a claim for reimbursement from the account. Group Homeowner’s and Auto Insurance Liberty Mutual offers a comprehensive program that features auto and homeowner’s insurance. This program provides an exclusive group discount on already competitive rates and convenient payment options. Compare your current policy to Liberty Mutual’s Plan. More than 6,500 companies and organizations in North America have chosen this plan, making it the most sponsored group auto and home insurance program in the industry. Eligibility for this plan is extended to you, your spouse and any of your children who are residents in your home. They provide you with a number of convenient enrollment and payment options including payroll deduction. For plan quotes, just click here WellSpan Employee Assistance Program (EAP) WellSpan Employee Assistance Program (EAP) offers a professional, confidential service that helps employees and their immediate family members identify and resolve personal problems that may be affecting them either at work or in their personal lives. The EAP program provides counseling services and training programs to anyone in need and is strictly confidential. There is no cost to you as an employee or dependent family member for the initial evaluation sessions. To find out more about WellSpan Employee Assistance Program, please go to www.wellspan.org/body.cfm?id=526. | 
