Insurance

 

Cigna HealthCare Insurance

Three health plan options are offered: Choice, Select (HDHP with an HSA option), and Opt-Out. Coverage levels include employee only, employee plus spouse/domestic partner, employee plus child(ren), and family.

Cigna HealthCare Schedule of Benefits and Rate Information (PDF)

Sun Life Financial Life Insurance

Coverage is provided for all regular, full-time employees. Meredith College pays the full premium. Eligible employees may elect full-coverage or a reduced benefit amount. Coverage includes Emergency Travel Assistance and Identity Theft Protection benefit. Coverage may be converted, and in certain instances be portable, to individual coverage upon termination of employment.

  • Full Benefit Amount:  A benefit amount of up to 2 1/2 times the employee's annual salary is provided by the College at no cost to the employee. An annual excess life tax is paid by the employee on the benefit amount above $50,000. This tax is generally deducted from the employee's pay in November of each year.
  • Reduced Benefit Amount: A benefit amount of $50,000 provided by the College at no cost to the employee. Employee's full benefit amount must be at least $50,000 to elect this option. The reduced benefit amount is not subject to the excess life tax and no deduction is made from the employee's pay.

Cigna Dental Insurance

Coverage is available to any employee in a regular position, working 1,000 or more hours per year. The annual benefit amount is $1,500 per covered person. Major services are covered at 50% after a 12 month waiting period, unless a prior coverage credit is applied at the time coverage is elected. All premiums are paid by the employee.

Cigna Dental Insurance Rates (PDF)

Superior Vision Insurance

Coverage is available to any employee in a regular position, working 1,000 or more hours per year. All premiums are paid by the employee.

Section 125 Flexible Benefits Plan

Coverage is available to any employee in a regular position, working 1,000 or more hours per year. Employees may elect to tax-shelter a portion of their salary each pay period for reimbursement for childcare expenses ($5,000 annual maximum) or medical expenses ($2,500 annual maximum). All premiums, with the exception of long term disability and long term care, will be taken pre-tax. Elections must be made annually during the benefit open enrollment period.

Sun Life Financial Long-term Disability

Available to employees after one year of employment in a regular, full-time position. Rates are based on the employee's annual salary amount. The College will pay half of the premium if the employee elects coverage. Benefits include continuation of salary (60%), continued contributions toward retirement plan, and an Employee Assistance Program. If coverage is not elected when initially eligible, a medical review may be required for late enrollment.

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