Employee Matters
A university staff benefits statement should reach your campus mailbox sometime the third week in April. Here are some details about why you get the statement and what it means.
Who gets a benefit statement?
Statements are sent to active, permanent university employees covered under the Wisconsin Retirement System. Limited-term employees do not receive this statement.
What’s in the statement?
Statements reflect projected 2002 calendar year employee and university contributions to each benefit program. The statement shows projected Wisconsin Retirement System and Social Security contributions and contributions to tax sheltered annuities or deferred compensation.
Insurance premium projections are based on April 2002 amounts. If you do not participate in a benefit program, or did not have a deduction taken for an insurance program at the time when the information is extracted, the word “none” will appear in the coverage column.
What’s not in the statement?
Benefit information not included is:
- Employee Reimbursement Account program contributions.
- Pre-tax transportation program contributions.
Why should I read it?
You should review your statement thoroughly for accuracy of information. Immediately notify the person or office shown on your statement if you find any incorrect information. Here are some things worth checking:
Do you have family health coverage, but have no spouse or dependents? You may not pay any premium, but the university may be overpaying premium by as much as $600 per month.
Did you think you were carrying health insurance, but the statement indicates “none”?
Do you have family major medical coverage (a separate plan from your health insurance), have a spouse, but no dependents? Do you have two-person coverage and only need single?
Do you think you are covered by Income Continuation Insurance, but the statement indicates “none”? Are you listed as unclassified faculty or academic staff? Is your ICI waiting period correct?
Dental insurance is represented or non-represented, single or family coverage based on your position title. What is listed for you?
What about survivor benefits?
In survivor benefits (life insurance), do you have the coverage level you selected for you, your spouse and/or your dependents? Are you carrying spouse and dependent coverage, but you have neither a spouse nor dependent? Did you think you had spouse and dependent coverage, but have none? Are dependents eligible?
Individual and family group life coverage for your spouse and dependents are independent of each other. Do you have both or neither? Is this correct?
- University Insurance Association is employee-only coverage and is mandatory for all eligible faculty and academic staff. Not available to classified employees.
- UW Employees Inc. is employee-only coverage; benefit and premium are determined by age.
- Accidental Death And Dismemberment may be single or family.
Other questions?
Contact a specialist at Employee Compensation and Benefits, 263-7556, 262-5650, employee@bussvc.wisc.edu.