Faculty Premium Payments for Health Insurance Coverage Begin in January 2007

    The current CBA has all full-time faculty membes payign a percentage of their health insurance premiums starting in January 2007.  In addition, any faculty member who declines University providded coverage will receive an annual payment of $2,000. 

       

      • If 25 members decline coverage, the full-time membership will receive a $50,000 lump-sum payment in year 3 of the CBA

      • If 25 members switch from Cigna insurance to the Oxford Gold Plan, the annual salary raise for year 3 in the current CBA will increase from 4% to 4.5%


    Details are provided below: 

    Declination of Coverage

    Policy Premiums and Net Monthly Faculty Payments 


    Declination of Coverage

    Under the current CBA, any full-time faculty member who declines health care coverage provided by LIU will receive $2,000 per year, in monthly installments.  This is renewable every year at the open enrollment period.  In order to qualify, a faculty member must return the declination form that was received at everyone’s home to University Center.
     

Summary of Health Plan Premiums

The current CBA calls for faculty to pay a percentage of the monthly health insurance premiums.  In addition, $75,000 are provided for a non-recurring lump-sum payment to faculty in year one of the contract.  The membership voted to divide the lump-sum payment on a pro-rated basis, dependent upon health insurance premium payments.  Below are listed the monthly premiums for each plan; the monthly faculty contribution; the individual distribution from the lump-sum payment; and the resultant net payment by faculty members.

     Details of each plan are available here
 

The Benefits Department at University Center will discuss any specific questions that you may have regarding the various plans and your individual needs.

If you have any individual questions, please contact Nancy Sissons in the Benefits Office



 
 

Level 
Monthly Premium
Faculty Payment
Monthly Lump-Sum
Distribution
Net Faculty Payment
         
Cign PPO (Faculty Pay 14%)
Individual
$919.50
$128.68
$36.08
$92.60
Emp/Spouse
$2,009.36
$281.31
$78.88
$202.43
Emp/Child.
$1,891.20
$264.77
$74.24
$190.53
Family
$2,975.87
$416.59
$116.81
$299.78
Cign POS (Faculty Pay 14%)
Individual
$617.36
$86.43
$24.23
$62.20
Emp/Spouse
$1,358.10
$190.13
$53.31
$136.82
Emp/Child.
$1,277.86
$178.90
$50.16
$128.74
Family
$2,012.20
$281.71
$78.99
$202.72
Oxford Freedom (10%/11% @ $65,000)
Individual
$525.39
$57.79/$63.05
$14.73/$16.21
$37.81/$41.59
Emp/Spouse
$1,077.06 
$118.48/$129.25
$30.20/$33.22
$77.51/$85.26
Emp/Child.
$906.83
$99.75/$108.82
$25.43/$27.97
$65.26/$71.78
Family
$1,584.59
$174.30/$190.15
$44.43/$48.88
$114.03/$125.43
Oxford Gold (10%/11% @ $65,000)
Individual
$406.46
$40.65/$48.78
$11.40/$12.54
$29.25/$32.17
Emp/Spouse
$833.25
$83.33/$99.99
$23.36/$25.70
$59.96/$65.96
Emp/Child.
$701.55
$70.16/$84.19
$19.67/$21.64
$50.48/$55.53
Family
$1,225.89
$122.59/$147.11
$34.37/$37.81
$88.22/$97.04
HIP Prime (11%/12% @$65,000)
Individual
$416.32
$45.80/$49.96
$11.67/$12.84
$29.96/$32.95
Emp/Spouse
$832.61
$91.59/$99.91
$23.35/$25.68
$59.91/$64.91
Emp/Child.
$774.34
$85.18/$92.92
$21.71/$23.88
$55.72/$61.29
Family
$1,273.53
$140.09/$152.82
$35.71/$39.29
$91.64/$100.81
Aetna HMO (11%/12% @$65,000)
Individual
$510.18
$56.12/$61.22
$14.31/$15.74
$36.71/$40.38
Emp/Spouse
$1,025.93
$112.85/$123.11
$28.77/$31.64
$73.83/$81.21
Emp/Child.
$902.89
$99.32/$108.35
$25.32/$27.85
$64.97/$71.47
Family
$1,507.17
$165.79/$180.86
$42.26/$46.49
$108.46/$119.30
Vytra HMO (12% @$65,000)
Individual
$489.00
$53.79
$15.08
$38.71
Emp/Spouse
$1,098.44
$120.83
$33.88
$86.95
Emp/Child.
$902.89
$99.32
$27.85
$71.47
Family
$1,507.15
$165.79
$46.49
$119.30
         

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