2014 Insurance Premium and WRS Contribution Rates
December 22, 2013
Benefit changes made during the Annual Benefit Enrollment period and premiums for 2014 coverage will be reflected on your check dated December 26 for classified employees (paid bi-weekly) and January 2 for unclassified employees (paid monthly). Premiums will increase for health insurance and VSP Vision insurance. There will be no change to Dental Wisconsin or EPIC Benefits+ Insurance premiums. 2014 insurance premiums are available online at: http://uwservice.wisc.edu/premiums/.
Your benefit summary is available online. Log in to My UW and click on the 'Work Record' tab. Go to the 'Benefit Information' module and click on the 'View Benefits Summary Detail' link to see your benefit summary. Enter "01/01/2014" in the date field above the summary and click "Go" to see your 2014 elections.
Note - if you enrolled in the Employee Reimbursement Account (ERA) program for 2014, you will not see your 2014 election amount in the benefit summary until late December. Your 2013 ERA election will be displayed in the benefit summary until the 2014 ERA elections are loaded to the payroll system.
Premiums for Individual and Family Life Insurance and UW Employees, Inc. Life Insurance are based on your age as of January 1 of the year. If you move into a new premium age category as of January 1, 2014, your premium will increase on the check payable December 26 for classified employees and January 2 for unclassified employees. Any premium change due to coverage level increases made during the Individual and Family Annual Increase Option period will also begin on these checks.
The Wisconsin Retirement System (WRS) employee contribution rate for 2014 will increase from 6.65% to 7% for all employees (except those covered by the Executive WRS category, for whom the contribution rate is 7.75%). This change will occur on the first check payable in 2014 - January 2 for unclassified employees and January 9 for classified employees.
If you enrolled in the ERA program for 2014, your first deduction for your 2014 election will be on the first check payable in 2014 - January 2 for unclassified employees and January 9 for classified employees.
Source: UW System Administration
Categories: WI Retirement System (WRS)