Income Continuation Insurance (ICI) Annual Update and Premium Increase
February 17, 2012
Each year there is review of your earnings (all employees) and leave usage (classified employees only) to determine your Income Continuation Insurance (ICI) premium for the year. For classified employees (paid bi-weekly), the ICI premium is based on last year's earnings reported to the Wisconsin Retirement System (WRS) and an employee's sick leave balance and usage through the end of the last pay period paid in 2011 (pay period that ended on 12-17-11). For unclassified employees (paid monthly), the ICI premium is based on last year's WRS-reported earnings and the selected elimination period.
ICI premiums are increasing for 2012. The new premiums are available at:
https://uwservice.wisc.edu/premiums/#ici
Both the new ICI premiums and any changes to your ICI coverage due to an increase/decrease in earnings and/or sick leave usage will be reflected on your February earnings payable February 23 for classified employees and March 1 for unclassified employees.
Each January employees have the opportunity to enroll in the ICI plan and/or the Supplemental ICI plan if certain conditions are met. Employees may enroll in ICI if certain sick leave balance and/or sick leave usage requirements are met and may enroll in the Supplemental ICI plan if the prior year's WRS earnings were greater than $64,000. If you enrolled in ICI or added Supplemental ICI coverage during this January enrollment opportunity, this coverage will be effective on April 1 and the first deduction associated with the new coverage will be reflected on your April earnings payable April 19 for classified employees and May 1st for unclassified employees.
For more information about the ICI program, see the recently updated ICI plan brochure.
Source: UW System Administration
Categories: Income Continuation Insurance (ICI)