University Insurance Association Life Insurance: Change In Timing Of Plan Year And Annual Premium Deduction
October 28, 2021
The University Insurance Association (UIA) Life Insurance Plan Year start date is changing from October 1 to January 1. For UW System Faculty, Academic Staff, and Limited Appointees currently enrolled in the plan, coverage will continue through December 31, 2021. Beginning in 2022, the plan year will run from January 1 to December 31.
Eligible employees who meet the minimum monthly salary threshold as of January 1 will be automatically enrolled in the plan. For the 2022 plan year the minimum monthly salary threshold is $2,896.
Due to the change in plan year, the annual premium will be deducted in December. For 2022, the annual premium of $24 will be deducted from the biweekly paycheck dated December 16, 2021. The annual premium was previously deducted in October.
Participation in the UIA Life Insurance plan is a condition of employment for UW System Faculty, Academic Staff, and Limited Appointees. Eligible employees must requalify for coverage each year. For more information about the plan, including coverage levels and detailed eligibility requirements, visit the UIA Life Insurance web page.
Source: UW System Human Resources
Categories: Insurance