Income Continuation Insurance (ICI) Deferred Enrollment and Annual Update January 2014
January 23, 2014
Income Continuation Insurance (ICI) is a disability insurance plan which provides up to 75% of your previous calendar year's WRS earnings as replacement income when you are unable to work due to a short or long term disability. Standard ICI pays 75% of your earnings up to a maximum of $4,000/month. If your prior year's WRS earnings were $64,000 or more, you may elect the Supplemental ICI which pays 75% of your salary up to a maximum of $7,500/month.
If you are currently not enrolled in ICI, you may be able to enroll through January 30, 2014. If you're eligible, you will be given a notice by your payroll/personnel office of any deferred enrollment options for ICI in late January. You must complete an Income Continuation Insurance Application (ET-2307) and return it to your payroll/personnel office on or before January 30, 2014 to enroll during the deferred enrollment period. ICI coverage elected through deferred enrollment will be effective April 1.
Deferred enrollment is offered in the following situations:
Each year there is review of all classified employees' earnings and leave usage to determine your Income Continuation Insurance (ICI) premium for the year.
For classified employees (paid bi-weekly), the ICI premium is based on your last year's earnings reported to the Wisconsin Retirement System (WRS) and sick leave balance/usage as of 12/28/2013. For unclassified employees (paid monthly), the ICI premium is based on last year's WRS-reported earnings and the selected elimination period.
For more information about the ICI program, see the recently updated ICI plan brochure. Please contact your benefits office with any questions.
Source: UW Service Center
Categories: Income Continuation Insurance (ICI)