Dear NEOMED Community,
Over the past few months, Dr. Langell has been keeping you informed of the anticipated NEOMED revenue losses resulting from the COVID-19 pandemic as well as the state share of instruction reductions due to state of Ohio budget cuts. Accordingly, the University has been exploring creative ways to reduce expenses while also protecting the employment of its full-time staff and faculty and without compromising the quality of our students’ education.
Among several offices contributing solutions to reduce expenses, Human Resources reviewed the University’s comprehensive benefits plan and made modifications to the plan’s educational and health care benefits. These changes will take effect July 1, 2020.
Educational Benefits Policy
Educational benefits are available to full-time employees who have been continuously employed for 6 months. While we are proud to continue to offer this program to our full-time employees, we have made some changes to the Educational Benefits Policy to allows us to sustain the program.
- Coverage for employees who do not currently have a master’s degree remains unchanged.
- Coverage for dependents of those employees who earn less than $50,000 remains unchanged.
- Spouses will no longer be eligible for any educational benefits.
- Retirees and Retiree dependents will no longer be eligible for any educational benefits.
- Employees who have completed a master’s degree are not eligible for education benefits.
- Annual educational benefits for dependents will be based on employee earning tiers as follows:
-
- $6,750 per dependent for employees earning between $-50,001 and $74,999 annually
- $6,000 per dependent for employees earning between $75,000 and $99,999 annually
- $5,625 per dependent for employees earning between $100,000 and $149,999 annually
- $5,250 per dependent for employees earning $150,000 or more annually
Annual earnings are determined by an employee’s base salary as of July 1 for any educational benefit expenses to be incurred in the upcoming fiscal year.
Health Care Benefits
Health care monthly premium are typically shared among employers and employees with most companies paying 80% and employees paying 20% of the premium. At NEOMED our employees have always paid less than 20% of premium (the current split is 83/17).
As we explored the benefits of reducing our employer contribution to be in alignment with other universities in Ohio (80/20 split), President Langell did not want to unduly burden those with annual incomes of less than $50,000. We also wanted to keep our health care affordable based on rules of the Affordable Care Act (ACA).
Beginning July 1, 2020, an increase in employee premiums will occur as noted in the respective blocks for those receiving an annual income of $50,000 and above.
|
Annual Earning Tiers |
Employee Only |
Employee + Children |
Employee + Spouse |
Employee + Family |
|
$0 - $29,999 |
$26.46 |
No Change |
No Change |
No Change |
|
$30,000 - $49,999 |
$11.55 |
No Change |
No Change |
No Change |
|
$50,000 - $74,999 |
$15.88 |
$38.37 |
$43.04 |
$69.67 |
|
$75,000 - $99,999 |
$20.21 |
$62.05 |
$69.60 |
$139.34 |
|
$100,000 - $174,000 |
$14.92 |
$66.13 |
$74.18 |
$151.64 |
|
$175,000 > |
$9.62 |
$65.32 |
$73.26 |
$163.93 |
The Wellness Discount of $20 per month has not yet been factored into these numbers.
No changes were made to the health benefit offerings.
Please be sure to review the updated policies in their entirety. If you have any questions, please contact Charity Davis, director of Human Resources, at cdavis6@neomed.edu or Dayonna Taylor, HR coordinator, at dtaylor5@neomed.edu.
Regards,
Andre Burton, J.D.
Vice President for Human Resources and Diversity
Office of the President