Skidmore Employee Benefits Summary

人寿保险

Group Term 人寿保险 & AD&D

What group term life insurance plans are offered?

火博体育大学 provides a $50,000 group term life insurance, which ceases at separation 的就业. You may also elect additional group term life insurance at $50,000; $100,000; $150,000; $200,000; or $250,000.

What is the cost of the group term life insurance plan?

There is no cost to you for the base $50,000 plan the College provides. 的成本 any additional coverage will be based on the amount elected and your age at the time of benefit eligibility. Thereafter, the cost will be based on your age each January 1. The cost of the plan may be found on the yearly benefits information page.

Are there other costs to employees when buying group term life insurance?

Under federal guidelines, the value of group term life insurance in excess of $50,000, referred to as imputed income, is taxable income and, as such, is reported annually 在你的W2表格上. While the value is subject to federal, state, and FICA taxes (Social Security/Medicare taxes), the College is only required to withhold FICA taxes.

Dependent 人寿保险

What is dependent life insurance?

Dependent life insurance covers an employee’s spouse for $10,000 group term life insurance and each unmarried dependent child for $4,000 until age 19, or age 23 if they are 全日制学生. Employees are automatically named as the beneficiary if coverage 当选.

While dependent life insurance cannot be a part of the Flexible Benefits Program under the IRS regulations, the College does include the information and election option with the Flexible Benefits Program for employee convenience.

What is the cost of the dependent life insurance plan?

The cost of this plan, determined annually by the insurance company, is the same for each participant whether one or more dependents are covered. 当前成本可以 可以在 yearly benefits information page..

Who may participate in dependent life insurance?

You are eligible to participate in dependent life insurance if you are a regular or temporary full- time employee hired in a nine- to twelve-month appointment, or a part-time employee hired to work in a twelve-month position for at least 1,365 hours per year; full-time faculty appointed in temporary positions for at least two consecutive semesters; and faculty, exempt and non-exempt staff appointed to an approved shared position.

Business Travel Insurance

What does business travel insurance cover?

The College provides a blanket $100,000 policy for accidental death, to include dismemberment at a prorated schedule, while traveling on College-related business. 这不是 include traveling between home and your work location.

Who is eligible for Business Travel Insurance?

Full- and part-time exempt employees and non- exempt employees are automatically enrolled 在租用之日.