2007 Health Care Plans
6.8 Percent Increase in Medical Premiums
For 2007, there will be a 6.8 percent increase in the weighted average adjustment in medical premiums for the university’s four medical plan options. There will also be a 6.0 increase in dental premiums.
The above are adjustments in total premiums, and employee contributions will increase or decrease based on the difference between total premium and the university’s contribution amount. For 2007, the university will contribute up to the indicated amounts for the following medical and dental plan coverages:
2007 University Contributions
Note: The university will contribute a greater amount for Support and Service Staff employees with an annual base salary of less than $26,520. See page 3 for a list of 2007 medical plan premiums and employee contributions.
For Fiscal Year 2006/2007, it is estimated that Indiana University will contribute a total of $119 million for employee healthcare coverages.
Many benefit plans sponsored by Indiana University request a participant to name a person or entity as beneficiary. A beneficiary may become entitled to benefits under a plan because of the death of the participant. Once designated, the beneficiary will remain in effect until it is updated by the participant.
Periodically, a participant may want to review and update the beneficiary designation. The beneficiary a participant designated when he/she first enrolled in the university’s benefit plans may no longer be current or appropriate; for example, if a participant has experienced a marriage, divorce, birth of a child, or death of a beneficiary. A participant does not need to experience a life-altering event to be eligible to change the beneficiary designation. A participant may change the beneficiary at any time simply because he or she wants to make a change.
Changing the beneficiary under one plan will not change the beneficiary under any other plan at Indiana University. Therefore, a participant must request a beneficiary change for each plan he or she wishes to make such a change.
Benefit plans with beneficiary options include:
- Basic life and Supplemental life
- Personal Accident Insurance
- IU Retirement Plan
- IU Tax Deferred Annuity Plan
Academic and Staff employees can now make beneficiary changes for many IU-sponsored benefit plans directly via the Web! A new optional tool—eBenefits—is available in OneStart. Contact a campus HR office if there are questions.