Benefit Summary – Salaried Full-Time

Health Insurance:

Albion College offers 2 new medical insurance plans administered by ASR our third party administrator (TPA).

Medical Networks In Michigan – HAP or Multiplan (typically for Mental Health Providers and Chiropractors).  Outside Michigan and International – Aetna National PPO Network

• HDHP1 plan has a $2000/single, $4000/family, annual deductible with a 80%-20% co-insurance split of the approved amount for in-network providers. This plan is eligible for a Health Savings Account (HSA).
• PPO1 plan has a $1000/single, $2000/family, annual deductible with a 80%-20% co-insurance split of the approved amount for in-network providers.
• NEW for 1/1/2025 – HDHP2 plan has a $3500/single, $7000 family, annual deductible with a 80%-20% co-insurance split of the approved amount for in-network providers. The College pays the full single subscriber premium.  This plan is eligible for a Health Savings Account (HSA).
• NEW for 1/1/2025 – PPO2 plan has a $1500/single, $3000/family, annual deductible with a 80%-20% co-insurance split of the approved amount for in-network providers.

Rx:

The prescription plan is determined by the elected health plan.  Our prescription benefit manager is Transparent Rx.

• HDHP plan Rx is subject to deductible and coinsurance under the plan.
• PPO  plan Rx has $10/$20/$40/$100 copays per generic/preferred/non-preferred and specialty prescriptions.

Dental Insurance:

Our Dental plan provider is Delta Dental.  Diagnostic, Preventative and Basic Services are covered at 90%.  Major and Orthodontic (age 18 and under) services are covered at 50%.  There is a $1,000.00 maximum benefit per person per calendar year. The College pays the full single subscriber premium for the plan.

Vision Insurance:

This is a voluntary, 100% employee paid vision care program. This plan covers one complete eye exam in any 12 consecutive month period with a $10 copay (VSP network doctor) and prescription glasses (lenses and/or frames) at a combined $25 copay. Participants are eligible for new lenses once every 12 months and frames once every 24 months. Medically necessary contact lenses $25 copay.

Disability:

The Short Term Disability (STD) plan is self-insured. You are covered in a step plan, depending upon your length of service with the College. STD is payable for up to six months. Long Term Disability (LTD) picks up after STD ends, if you are still disabled. With terms and conditions met, LTD pays 60% of your salary. One year waiting period to participate.

Life Insurance/AD&D:

The Life Insurance and AD&D benefit is changing effective 1/1/2025.  Until then, you will receive a life insurance policy valued at two times your annual salary, at no cost to you unless the volume exceeds $50,000, then the IRS will tax you on the excess premiums, monthly via payroll deduction. You may cap your benefit at $50,000, if applicable. Accidental Death & Dismemberment doubles the life insurance benefit to your beneficiary if you die by accident (e.g. if you have a $50,000 life insurance policy and die by accident, your beneficiary(s) will received $50,000/Life + $50,000/AD&D for a total of $100,000).

Effective 1/1/2025 the College will provide a basic life and AD&D benefit of $50,000 for each policy at no cost to the employee.

Retirement:

The College offers a 403(b) Retirement Annuity (RA) plan administered by Teacher’s Insurance and Annuity Association (TIAA).

Full-time faculty and salaried administrative employees, will be immediately eligible for participation in the College’s retirement program. Employer contributions under this retirement plan will be made on a monthly basis and deposited to the employee’s TIAA/CREF Retirement Account in accordance with the following schedule:

• Employer Contributions as a Percent of Base Salary = 6%
• Employee Contributions are voluntary

Flexible Benefits (Section 125 Reimbursement Program):

You may elect pre-tax salary reduction for non-insured medical expenses and/or dependent care expenses.

Tuition Remission and Exchange:

This superb benefit is available, under certain guidelines, for employees and qualified dependents. See details in the Employee Services Manual.

Employee Assistance Program:

The College contracts with Behavioral Health Resources (BHR) for confidential assistance with everyday issues: marital, family, grief counseling, physical health, emotional health, elder care, substance abuse, financial counseling, job stress.

Supplemental Income Insurance – Aflac:

There are two products offered – an Accident/Injury and a Critical Illness plan. The AFLAC products do not replace any existing benefit. It is an additional voluntary benefit offered at a group rate which is paid 100% by the employee.

Moving and Relocation:

Albion College may pay a moving and relocation allowance to eligible new full time faculty and administrative employees. The move destination must be within 20 miles of the work location.

Holidays and Paid Time Off (PTO):

The College recognizes most major holidays and provides paid vacation to all full-time administrative  salaried staff.

Amenities:

• Free parking
• Discounted meal prices at cafeteria
• Bookstore discount
• Access to campus events (e.g. speakers, concerts, performances, athletic events)
• Library access
• Free gym access including full size pool, jacuzzi, weight room, racquetball courts, basketball courts, cardio equipment, indoor and outdoor track, indoor and outdoor tennis courts, and an employee-only exercise facility
• Nature center with hiking/walking trails

For more information, please contact Human Resources at 517-629-0205 or [email protected]