The open enrollment period for the long-term disability (LTD) insurance plan offered through UT begins Monday, March 28. Recent changes have resulted not only in improved benefits, but also lower premiums for current participants and for eligible employees who wish to join the plan during the enrollment period, which ends May 2. Knoxville-area employees may take advantage of information sessions on Monday and Tuesday, April 4 and 5.
The University of Tennessee system has adopted a recommendation to increase the minimum starting pay rate for regular full- and part-time staff. The new rate of $8.50 per hour will become effective July 1. The increase in the minimum starting pay rate was a recommendation from the university’s Compensation Advisory Board and is a first step in a long-term process to address compensation at the university.
Prior to Jan. 1, 2011, University Health Systems (through the UT Medical Center in Knoxville) provided a benefit to UT employees in the form of a full waiver after insurance of residual hospital charges, if the employees, their spouses and eligible dependents were participants in the state of Tennessee medical insurance program. As a result of recent changes in the state of Tennessee’s medical insurance plans, University Health Systems has notified the university of changes to this benefit.
To try easing the impact of increasing insurance premiums in 2011, employees who are paid biweekly will have the option of establishing twice-monthly payroll deductions for premiums. Splitting between both paychecks each month is intended to help make the insurance increase more manageable and to equalize net pay between the first and second biweekly payrolls of the month.
The annual open enrollment/transfer period for the group insurance programs for UT employees ends Monday, Nov. 16. Any changes you make in your coverage will become effective Jan. 1, 2010. Even if you aren’t enrolling or changing your coverage, this is an excellent time to review your personalized benefits statement.
UT employees who take advantage of State of Tennessee group medical insurance coverage will notice some changes in their premiums in the coming months. At its last meeting, the State Insurance Committee approved both a six percent increase to medical premiums, as well as two medical premium holidays — two months for which no premium will be due.