P&S COUNCIL NEWS
Nov. 2, 2007

Follow-Up: 2008 Employee Benefits Forum

At noon on Thursday, Nov. 1, the P&S Council hosted an open forum in the Gallery Room in the Memorial Union. Mike Otis, Benefits Manager at ISU, discussed ISU employee benefits for 2008. Mike has compiled a list of questions and answers as a follow-up to Thursday’s forum.

New Vision plan - Avesis

What are the deductibles for frames, lenses, etc.?
There is a $25 deductible applied to frames and/or lenses. To clarify - if you purchase new frames and lenses, there will be a $25 deductible that covers both. If you were to purchase only lenses, you would still have a $25 deductible.

Is there a deductible for contacts?
No, there is no deductible for contacts. The maximum annual benefit is $130 for contacts with no deductible

If I choose not to enroll in Avesis vision this year, can I enroll next year during Open Change?
Yes. You can enroll or cancel coverage each year during Open Change.

Voluntary Life Plan

Basic Life insurance at ISU has a provision that reduces the life benefit by 35% at age 65.  Is there a reduction at age 65 for Voluntary Life?
No. There is no benefit reduction age for Voluntary Life.

Can you explain again how the "Portability" feature works for Voluntary Life?
If you retire or leave the university, you can elect to continue (port) your Voluntary Life at the ISU rate for a minimum of 12 months. On May 1 following 12 months of portability, Principal Financial group would review rates and adjust according to their pool for others who are porting coverage.

If I leave the university and elect to port Voluntary Life, am I locked in for a certain length of time?
No lock in.

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To submit items to the next P&S Council newsletter, contact:

Ann Bugler
bugler@iastate.edu

Mike Noreen
mnoreen@iastate.edu