MUSC Employee Benefits Guide

Medical Insurance
There are several medical insurance plans offered through MUSC: Two State Health Plans (SHP), MUSC Options, BlueChoice Healthplan(HMO), Cigna (HMO) and TRICARE Supplement.

The SHP is administered through Blue Cross-and Blue Shield. There are 2 plan choices – The Savings Plan or Standard. Both of these plans have an annual deductible that must be met prior to receiving coinsurance.

MUSC Options, BlueChoice and Cigna are HMO plans administered through BlueChoice HealthCare and Cigna HealthCare. A primary care physician must be selected, but may be changed at anytime. Co-payments are required for Physician visits.

TRICARE Supplement coverage is available for employees entitled to TRICARE and listed in DEERS (Defense Enrollment Eligibility Reporting System) Database.

Dental Insurance
¨ The State Dental Plan
Available to all benefits eligible employees. There is no cost to the employee for this plan. There is a premium for Spouse and/or child(ren).
¨ Dental Plus
Dental Plus is a supplemental plan to provide a higher level of dental coverage for you and your family. This plan does require the employee to pay a premium for this additional coverage.

Disability Plans
MUSC:
¨ Basic Long Term Disability – an Employer paid plan provided with health insurance enrollment. You are eligible to receive 62.5% of your monthly salary or maximum $800.00 a month, after one year of State service. There is a 90-day waiting period and it is offset with other plans.
¨ Supplemental Long Term Disability – provides 65% of your monthly salary or maximum $8,000.00 a month. Premiums are paid by the employee and are based upon age, salary and the plan chosen (90 or 180 day waiting period).
¨ Long Term Care (LTC) Insurance – able to purchase coverage to protect yourself and/or immediate family. LTC refers to a wide range of personal care and social serviced for people of all ages who suffer a chronic disease or long-lasting disability. Eligibility for benefits is based on the inability to perform two of six activities of daily living or an approved cognitive impairment.
UMA:
Long Term Disability insurance is provided for all eligible physicians. The benefit is 60% of combined (UMA, MUSC, VA) income. Maximum annual income considered is $200,000 for a maximum monthly benefit of $10,000. This group plan is through Standard Insurance Company.

Additional long term disability coverage is provided for eligible physicians earning over $200,000 annually. This coverage is provided in individually issued policies through UNUM Life Insurance Company. The benefit is 60% of combined annual income in excess of $200,000 up to a maximum monthly benefit of $5,000. Individual coverage you presently have could affect your eligibility for additional coverage.

MoneyPlu$
With the pretax group insurance premium feature, you can pay your SHP, HMO, Dental, and Optional Life (for coverage up to $50,000) premiums before taxes. There are four (4) other parts to this plan:

¨ Part A/B - Allows you to establish a Health Savings Account in conjunction with the High Deductible Savings plan. The money put into this account can be used to pay medical expenses. Also allows for a Limited-Use Medical Spending Account for eligible dental and vision expenses incurred for the year if you are in the Health Savings Plan. Maximum allowable contribution is $5,000 annually.
¨ Part C – The Medical Spending Account allows you to be reimbursed for medically necessary expenses, such as co-payments, vision care and out of pocket dental fees with pre-tax dollars. Must be employed for one year before enrolling in plan, maximum $5,000.00.
Part D – The Dependent Care Spending Account allows you to reimburse your expenses with pre-tax dollars for dependent care, maximum $5,000.

MUSC Retirement:
South Carolina Retirement System
The South Carolina Retirement System includes three separate plans:
¨ South Carolina Retirement Plan (SCRS) – a defined benefit plan where retirement income is based on average final compensation and years of service.
¨ Optional Retirement Plan (ORP) - a defined contribution plan where retirement income is based on contributions, investment choices and account balances.

SC State Supplemental Retirement Plans
These plans allow you to exclude from your taxable income a portion of your salary through pre-tax salary reduction.
¨ Deferred Compensation: offers two plans designed to supplement your retirement.
- 401(k) and 457
· Tax 403(b) Deferred Plans: Funded by voluntary provider companies, each with diversity investment options for you to select.
UMA Retirement

All employees are participants in UMA's Defined Contribution Retirement Plan. UMA contributes - 8% of $0 - 40,000, 12% of 40,001 - 80,000, 25% of 80,001 - 150,000, 29% of 150,001 – 200,000.

$0 -$40,000 - 8% - $3,200
$40,001 -$80,000 - 12% - $4,800
$80,001 -$150,000- 25% - $17,500
$150,001-$200,000- 29% - $14,500
Maximum Contribution: $40,000

Participants are fully vested after five years of employment. Normal retirement age is 60.
Participants are eligible to receive a distribution of their vested account balance or elect a rollover into another qualified plan after one year following termination of employment. If you return to UMA/CFC in any status before receiving a distribution you will not be eligible for payout. If you retire or separate due to a disability, there is no waiting period for distribution.

Tax Sheltered Annuity - 403(b) Plan

UMA physicians may also participate in an optional retirement savings program through our tax sheltered annuity plan. Physicians may contribute up to $14,000 ($18,000 if employee is age 50 or over), in 2005, subject to certain IRS restrictions. Fifty dollars ($50) minimum monthly installments are arranged through payroll deduction.

MFS South Carolina Municipal Bond Fund

UMA physicians may invest in this tax free portfolio with no sales charge. The fund's dividends are exempt from both South Carolina and federal taxes. (A small portion of income dividends may be taxable depending on individual circumstances.) Applications are available in the Department of Human Resources and investments are by payroll deduction (minimum $50 monthly).

















Life Insurance
MUSC:
¨ South Carolina Retirement Systems Death Benefit – an employee who is a member of SCRS or ORP with at least one year of service will be covered by a death benefit equal to one year of budgeted salary. Exceptions may apply, if job related injury results in death.
¨ State Death Benefit
If enrolled in one of the health insurance plans, you qualify for a $3000 life insurance policy at no cost to you. This benefit also provides a $3000 accidental death benefit if death is the result of an accident.
¨ Optional Term Life Insurance –
May purchase up to three times your base salary rounded down to the nearest $10,000. The maximum benefit is $500,000 with medical evidence of insurability- subject to approval.
Dependent Life Insurance –May purchase life insurance on your spouse and/or child(ren). You may cover your spouse in increments of $10,000 for up to 50% of your Optional Life coverage or $100,000, whichever is less. The premium for spouse coverage will be based upon the employee’s age and coverage amount. The premium for children’s coverage (regardless of the number of children covered) is $1.24 monthly for a $10,000 policy.
UMA:
· Group Universal Life insurance is provided in the amount of $250,000.00 (guaranteed issue) for physicians who are age 70 or less. Insurance is available for physicians age 71 through 75; however, there is no guaranteed standard issue. Physicians pay taxes on the premiums paid by UMA. The policy is portable at the group rates.
· Options are available to purchase additional coverage. You may elect an additional $100,000 at guarantee issue and up to $2,000,000 at preferred rates with evidence of insurability. Spouse and child riders are also available.
· An option is available to make additional premium contributions to provide tax deferred cash accumulation in your policy.

Leave and Holidays – administered by MUSC
Annual Leave
Faculty: full-time faculty members on a 12-month contract accrue 22 days per fiscal year (July 1- June 30).
Total of 360 hours (45 days) may carry over into the next calendar or fiscal year.

Sick Leave
Full-time employees accrue sick leave at the rate of 10 hours per month with a maximum accrual of 1,560 hours (195 days), however only 1,440 hours (180 days) may be carried over into a new calendar year.


Dee Crawford MUSC Employee Benefits (843) 792-2607
Nancy Lamble UMA Faculty Benefits (843) 852-7078