INCOME
CONTINUATION INSURANCE SUPPLEMENTAL COVERAGE
UNIVERSITY OF WISCONSIN SYSTEM EMPLOYEES
The Group Insurance Board recently approved a change
to the Income Continuation Insurance to allow eligible
employees to purchase supplemental ICI coverage. ICI
provides replacement income (at 75%) for short and long-term
disability, typically to age 65.
Eligibility
To
be eligible to enroll in the supplemental ICI plan,
you must:
- Have
estimated annual earnings exceeding $64,000—the
maximum salary level insured by the standard ICI plan.
-
Be enrolled in standard ICI plan coverage with a coverage.
Enrollment
You
may enroll for supplemental ICI:
- When
you are first eligible to enroll for basic ICI; or
- On
an annual basis (concurrent with the annual ICI deferred
enrollment period each January); or
- Through
evidence of insurability if you are also applying
for basic ICI coverage.
There
is no opportunity to enroll in supplemental ICI through
evidence of insurability if you already have the regular
ICI coverage.
If
you wish to enroll for supplemental ICI coverage, you
must complete and submit an Income Continuation Application
– State Employee Form (ET-2307) to your campus Human
Resources Office. They have a supply of applications.
Premiums
The
premium rates are based on the premium category or elimination
period in which you are currently enrolled. If you elect
supplemental ICI coverage, you must insure your entire
salary above $64,000, to a maximum of $120,000; there
is no partial coverage.
You
pay the entire premium for the supplemental ICI coverage.
There is NO employer share for the supplemental ICI
premium. Because you pay the entire supplemental ICI
premium amount, any ICI benefits paid above the $4,000.00
level (the maximum benefit for earnings of $64,000)
are not taxable.
Premium
rates can be found on the Department of Employee Trust
Funds website.
ICI
Supplemental Plan Premiums for UW Faculty
ICI
Monthly Supplemental Plan Premiums for Classified Staff
Questions
If you have any questions concerning ICI and supplemental
ICI coverage, or if you would like an ICI booklet and/or
application, please contact your campus Human Resources
Office
More
information on ICI benefits, premium rates and a PowerPoint
presentation on supplemental ICI coverage may be
found on the Department of Employee Trust Funds website.
UWSA
FAQs
This document was last
revised on January 29, 2007
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