2012 Insurance Premium and WRS Contribution Rates
December 14, 2011
Changes made during the fall enrollment period and premiums for 2012 coverage will be effective on your December earnings. There is a small decrease in health insurance premiums for 2012.
This is a reminder that if you made any benefit changes during the fall enrollment period (enrolled in a benefit plan, changed your coverage level or cancelled coverage), the premium associated with the change will begin on your December earnings (payable December 15th for classified employees paid bi-weekly and payable January 3rd for unclassified employees paid monthly). Insurance premiums deducted from December earnings are for January coverage (excluding Income Continuation Insurance which is for the current month - the ICI premium taken from December earnings is for the coverage month of December).
2012 insurance premiums are available online at: http://uwservice.wisc.edu/premiums/
Premiums for the Individual and Family (I&F) and UW Employees, Inc. (UWE) Life Insurance plans are based on your age as of January 1st of the year. If you move into a new age category as of January 1, 2012, your premium will increase on your December earnings. Any premium increases due to age should have occurred on the check payable December 15th for classified employees, but there was a delay in the premium update. There will be an adjustment on the December 29th paycheck to collect any additional I&F and/or UWE premiums owed due to an age category change. Any premium changes due to a new age category for unclassified employees will be reflected correctly on the January 3rd paycheck.
Any premium change associated with increasing coverage during the Individual and Family Annual Increase Option period will also begin on the December 15th classified and the January 3rd unclassified checks.
If you enrolled in the ERA program for 2012, your first deduction associated with your 2012 election will occur on the first check payable in 2012 - January 3rd for unclassified employees and January 12th for classified employees.
The WRS employee contribution rate for 2012 will increase from 5.8% to 5.9% for all employees except those covered by the Executive WRS category. This change will also occur on the first check payable in 2012.
Each year there is review of your earnings and leave usage (classified employees only) to determine your ICI premium. If there are any changes to your ICI coverage level, it will be reflected on your February earnings payable February 23rd for classified employees and March 1st for unclassified employees. ICI premiums are also increasing for 2012.
There is also an annual review your State Group Life Insurance coverage level and age category. Your coverage level is based on the higher of your previous calendar year's WRS earnings or your highest calendar year of WRS earnings. Any increase to your coverage will be effective April 1st and the new premium will first be deducted from your March earnings payable April 1st for unclassified employees and April 5th for classified employees. State Group Life Insurance premiums for some age categories will decrease effective April 1st as well.
Source: UW System Administration
Categories: WI Retirement System (WRS)