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Effective September 1, 2009, the Office of Human Resources made available a fillable A-21 form. This form and instructions are located under our "Forms" sections. Please start using this A-21 immediately.
VSUHR BENEFITS NEWS
DECEMBER 2010
Healthcare:
Reminder to employees who dependent child(ren) turned age 23 in 2010:
· Your dependent child(ren) loses their eligibility at the end of the year.
· You dependents will be automatically removed from coverage effective January 1, 2011, and your membership will be reduced as appropriate.
New age limit for dependent child(ren) to be cover on State employees’ health insurance policy:
The provision in health reform legislation concerning coverage for dependents up to the age of 26 will take effect for state health plan members on July 1, 2011. According to the federal regulations that govern health reform, increasing the limiting age to 26 goes into effect the first day of the plan year following September 23, 2010. Thus, for the Health Benefits Plan for state employees and retiree group participants, the effective date is July 1, 2011. Age 23 dependent children removed January 1, 2011 may be added back to coverage during the spring 2011 open enrollment period with an effectivedate of July 1, 2011.
Health Reform Provision on Over-the-Counter(OTC) Drug Reimbursement:
Beginning Jan. 1, 2011, a national health care reform provision concerning reimbursement of over-the-counter drugs goes into effect. Employees who participate in Medical Flexible Reimbursement Accounts will no longer be reimbursed for the cost of non-prescription over-the-counter drugs and medication. Examples are drugs for allergies, pain relief or cold and cough medicines. Please note that this change in reimbursement rules will not allow changes to the Medical FRA contributions.
Other OTC items, which are not considered drugs or medication, may still be reimbursed. These include such items as crutches, canes, band-aids and eyeglasses. Fringe Benefits Management Company (FBMC), which administers the Commonwealth’s flexible reimbursement accounts, has a two-page flyer on its Web site at
www.myfbmc.com with additional information. You can access the flyer without logging on to the site. The information includes a list of items that will require or will not require a prescription to be reimbursed starting next year. The direct link is
https://www.myfbmc.com/customer/OTCNotice.PDF.
Do you need to make changes to your health insurance, but your not sure what is needed and who can be added to your plan? The below chart will help answer those questions for you. Only those family members listed on the chart below are authorized to be addedto your health insurance:
Dependent Eligibility Definitions and Required Documentation
Dependents
Eligibility Definition
Documentation Required Before Request is Approved
Spouse
The marriage must be recognized as legal in the Commonwealth of Virginia.
Note: Ex-spouses will not be eligible, even with a court order.
Photocopy of marriage certificate, and
Photocopy of the top portion of the first page of the employee’s most recent Federal Tax Return that shows the dependent listed as “Spouse.” NOTE: All financial information and Social Security Numbers should be redacted.
Natural or Adopted Son/Daughter
A son or daughter may be covered to the end of the year in which he or she turns age 23* regardless of student status if the child:
lives at home or is away at school
is not married, and
receives more than one-half of his or her
support from the employee.
In cases where the natural (or adoptive) parents are living apart, the child may live with the other parent but must receive more than one-half of his or her support from either parent or a combination from both parents.
Photocopy of birth certificate showing employee’s name or
In the case of adoption, photocopy of a legal pre-adoptive or adoptive agreement.
Stepson or Stepdaughter
Unmarried stepson or stepdaughter may be covered to the end of the year in which he or she turns age 23* regardless of student status if:
they are living with the employee in a
parent-child relationship;
the principal place of residence is with the
employee;
they are a member of the employee’s
household; and
they receive over one-half of their support
from the employee.
Photocopy of birth certificate (or adoption agreement) showing the name of the employee’s spouse; and
Photocopy of marriage certificate showing the employee and parent’s name and
Photocopy of the top portion of the first page of the employee’s most recent Federal Tax Return that shows the parent’s name listed as “Spouse.” NOTE: All financial information and Social Security Numbers should be redacted.
Other Female or Male Child
An unmarried, minor child in which a court has ordered the employee to assume sole permanent custody may be covered until the end of the year in which he or she turns age 23*. If joint custody, it must be with the employee and the employee’s legal spouse.
The principal place of residence is with the
employee;
they are a member of the employee’s
household; and
they receive over one-half of their support
from the employee.
Photocopy of birth certificate and
Photocopy of the Final Court Order granting permanent custody with presiding judge’s signature.
Other Female or Male Child - Exception
If the employee (or employee’s spouse) shares custody with a minor child who is the parent of an “other female or male child”, then that “other child” may also be covered if
the other child,
the minor child** (who is the parent), and
the employee’s spouse (if applicable)
all live in the same household as the employee.
**The minor child must meet all of the eligibility requirements for a dependent child.
Photocopy of the other child’s birth certificate showing the name of the minor child** as the parent of the other child and
Photocopy of the Final Court Order with presiding judge’s signature.
* When approved as an adult dependent who is incapacitated due to a physical or mental health condition, the child may be covered beyond the age of 23.
Retirement:
The 403(b) is for all employees:
All university employees – classified, faculty, adjunct, and wage (P-14) – are eligible to participate in the university’s 403(b) tax shelter saving plans. The university has seven vendors, each with a diverse mix of investment options, where employees can save for retirement through tax deferred investing. By taking advance of this retirement benefit employees receive a two-fold saving: ONE – payroll tax liability is lowered (contributions are deducted from each pay before taxes are withheld – EXAMPLE: Non-403(b) Participate: $100 pay X 30% tax rate = $30 tax liability (take home $70.00); 403(b) Participant: $100 pay - $20 403(b) contribution = $80 adjusted pay X 30% tax rate = $24 tax liability (take home $56.00)……because of the tax liability savings, the employee only realizes a $14 decrease – from the $20 deduction); TWO - supplemental savings for retirement is achieved (this saving account could be used to pay for supplemental medical insurance (insurance in addition to Medicare while in retirement).
Webinar: Retirement and Your Domestic Relations Order
An
Approved Domestic Relations Order (ADRO) 110kb permits the Virginia Retirement System (VRS) to make direct payments to a former spouse when retirement benefits are divided in a marital property settlement. Learn more about the ADRO, how to get an ADRO approved by VRS and other frequently asked questions during a training webinar on January 25 from 2- 3:30 p.m.
Refund Reminders
· Before receiving a refund, you must leave all employment with a VRS-participating employer, including non-covered employment. For example, if you work in a covered position and a wage position you would have to leave both jobs in order to receive a refund.
· Before receiving a refund, you must have at least one-full calendar month break in service from employment before returning to a non-covered position. For example, if you leave a covered position for a wage or adjunct faculty position with the same employer without a break in service you are not eligible for a refund. The Commonwealth of Virginia, including all state agencies and public colleges and universities, are considered one employer. Public school divisions and political subdivisions are considered separate employers.
· You must be vested (have at least five years of service credit) to be eligible for a full refund of your member contribution account balance.
· If you are not vested you are eligible for a refund of any contributions you have made to your member contribution account, plus accrued interest. You are not eligible for a refund of any contribution made by your employer after July 1, 2010, or the interest on the contribution account, plus accrued interest. Taking a refund cancels your membership and eligibility for any future benefits, if you return to employment with the Commonwealth of Virginia you will be rehired under Plan 2.
Death-in-Service and Beneficiary Designations
Death in service life insurance benefits are payable as designated or by order of precedence if there is no valid designation on file or the named beneficiary is deceased. The member contribution account balance generally is paid in the same manner. However, as provided in the Code of Virginia, the payment of member contributions may vary for employees who die while they are active members.
Non-Work Related Death in Service
If a vested member’s spouse, natural or legally adopted minor child or parent (in that order) is one of the named beneficiaries, he or she will be eligible for either a refund of the member contribution account balance or a monthly benefit to the exclusion of all other named beneficiaries. If a non-vested member ’s spouse, natural or legally adopted minor child or parent is one of the named beneficiaries, he or she is eligible for a refund only. If multiple beneficiaries are named, all are eligible to receive a share of the refund.
Work-Related Death in Service
For a work-related cause of death, the named beneficiary will receive a refund of the member contribution account balance. In addition, the spouse, natural or legally adopted minor child or parent will be eligible for a monthly benefit whether or not this individual is the named beneficiary. If one of these individuals is the named beneficiary, he or she will receive a monthly benefit in addition to the refund of member contributions.
Get Organized. Where are your Important documents?
Important documents commonly are stored in safe deposit boxes, briefcases, strong boxes, locked desks, lockers or safes.
Gathering documents is a necessary step in organizing your personal and financial situation.
The specific documents needed vary by individual but the following are commonly necessary:
· Insurance Policies
· Automobile Titles
· Last Will and Testament
· Rental Agreements
· Trust Agreements
· Loan Notes
· Business Agreements
· Income Tax Returns
· Savings and Checking Account Statements
· Marriage/Birth Certificates
· Financial Statements for Stocks, Bonds, and other Investments
· Divorce Decrees and Property Settlement Agreements
· Real Estate Deeds
· Credit Card Accounts
Helpful Contacts
Upon reviewing your personal and financial documents, you will be able to determine who you may need to contact for assistance and what additional benefits may be available to you. Although this varies by individual, potential contacts include:
· Family Attorney
· Financial Advisor or Accountant
· Health Insurance Company
· Past and Present Employers
· Member Organizations (e.g. unions, trade associations, auto clubs, credit unions, etc.)
· Social Security Administration (1-800-772-1213)
· Veterans Administration (1-800-827-1000)
· Internal Revenue Service (1-800-829-1040)
· United Way Support Services (Call Your Local Chapter)
If you should have questions about filing a claim with Minnesota Life, please contact them at 1-888-658-0193.
COMMONHEALTH
VSU COMMONHEALTH FITNESS
All Classes are from 5:30PM – 6:30PM in the Daniels Gym Dance Studio.
HR REFRESHER 101
Your Benefits Administrator (BA) is here to advise you on all of your benefits matters. Thinking about making a change to your healthcare plan; considering participation in the university’s supplemental retirement plan; coordinating an extended leave period; considering retirement; contemplating buying service credits; new to the university and having acclimation questions; your BA is available to you for one-on-one consultation to address the aforementioned and any other questions you may have regarding your benefits.
Feel free to contact your Benefits Administrator:
Controller’s Office
Honors Program
Institutional Planning & Assessment
Office of Development
Office of the Provost
School of Engineering, Science & Technology
School of Liberal Arts & Education
VSU Technology Services
VACANT ext. 5086
Administration & Finance
Chief of Staff’s Office
Office of the President
School of Agriculture
School of Business
School of Grad. Studies & Research & Outreach
Student Affairs/Enrollment Mgt
University Library
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