Benefits Open Enrollment Ends Today

LEXINGTON, Ky. (May 12, 2017) — Today, May 12, is the last day of benefits open enrollment for faculty and staff. This is the only time each year employees may make changes to their benefit plans, unless they experience a major life event, such as a marriage, birth or adoption.

More information on benefit options is available on the UK Human Resources website.

If employees do not make any changes to their benefits package, they will have the same coverage for the new plan year, which begins July 1. Any employee who has a flexible spending account must re-enroll each year. Only up to $500 in unused funds will roll over to the new plan year.

UK is pleased to offer health insurance at the same rates for employees on the UK-HMO, UK-RHP and UK-PPO plans. Employees who are on the UK-EPO plan will see an increase of $13 to $55 per month, depending on the coverage level. Rates for dental and life insurance plans remain the same. Rates for accidental death and dismemberment insurance and vision coverage will decrease slightly.

Aetna is the new carrier for UK’s life insurance plans. Aetna has created a dedicated website about life insurance specifically for UK employees. New coverage levels are available for optional and dependent life insurance. Optional life insurance may be purchased up to eight times employees’ base salary, and dependent life insurance may be increased to $30,000. Dependent life coverage for spouses or sponsored dependents and optional life on employees themselves may be increased by one level without medical evidence of insurability (MEOI). Any increase after this year’s open enrollment will require MEOI.

The MPM Group also has information about other voluntary insurance plans, such as short-term disability, long-term care insurance, auto and home insurance and other plans.