HOW MUCH DO I HAVE TO PAY?
The amount you pay towards your employee only coverage depends on your annual earnings and is as follows:
▪ Full-time and part-time employees working 130 hours or more per month whose annual salaries are at or below the federal Health and Human Services Poverty Threshold (currently $24,600 for a family of four), will be exempt from making a monthly premium contribution for employee only coverage. Whitman College will pay 100% of the employee portion of the monthly premium.
▪ Full-time and part time employees working 130 or more regularly scheduled hours per month whose annual salary is above $24,600 will pay a monthly premium contribution equal to 0.7% of their pay. If you receive an increase in pay during the year, your employee-only monthly premium will be re-calculated, based on the new salary.
Example – If you are currently making $60,000 per year, then you would use the following calculation to determine your employee-only monthly premium cost:
Employee Salary $60,000 x .007 = $420/12 months = $35 per month
Employee Salary $30,000 x .007 = $210/12 months = $17.50 per month
▪ The monthly premiums for part time employees working less than 130 hours per month but at least 910 hours per year will continue to be prorated, based on the full- time equivalent percentage. For example, a part-time employee working 20 hours per week will pay 50% of the monthly premium.
Based on your salary, you will pay between 45% – 55 % of the premium cost to cover your eligible family members for medical, vision, and prescription drug coverage. You will continue to pay 100% of the premium cost to cover your eligible family members for dental coverage. Please see the following chart which outlines the contributions you and Whitman will incur in covering your family members, for medical/vision and dental coverage.
The following are your monthly contributions for Medical/Vision and Dental effective January 1, 2018:
**Includes coverage for domestic partners. Due to IRS regulations, contributions for domestic partners are made on a post-tax basis. In addition, any premiums paid by Whitman on behalf of a domestic partner will be considered taxable income to the employee. Please note that your contributions will be taken out of your paycheck on a pre-tax basis, as allowed by Section 125 of the Internal Revenue Code. IRS rules state that once you make your enrollment election for the year, you will not be allowed to change that election until the next Open Enrollment period, unless you have a change in family status, such as marriage, divorce, birth of a child, or change in employment status. This means you may not drop coverage for a dependent during the year unless there is a qualified change in family status.