Questions and Answers re: Benefits Cost Share
When will the conversation about the cost share of benefits take place?
This conversation will take place during the month of February 2014. President Sullivan has asked the University Benefits Advisory Council (UBAC) to report back to him by early March. If you wish for your voice to be heard in this dialogue, you must submit your feedback by Friday, February 28.
Why such a quick turnaround?
The President and Provost need time to digest the UBAC report, consider feedback from the University community, and prepare a recommendation to be considered by the Board of Trustees this spring.
What exactly is meant by the term "cost share" in this context?
In this context, "cost share" refers to the way that the cost of a benefit is divided between an individual and the University. For instance:
- The University pays 100% of the cost of dependent tuition for eligible faculty and staff
- The University contributes 10% of salary/wages to an eligible employee's retirement savings plan
- The University pays between 64 and 97% of the cost of healthcare premiums for eligible, active faculty and staff, based on their salary or wages
UVM is considering the possibility of adjusting future costs so that the University pays a somewhat smaller percentage of costs and individual faculty and staff pay a somewhat larger percentage.
What's the best way to share my thoughts and concerns?
There are a number of ways to let your voice be heard:
- Attend one of the two UBAC Town Hall Meetings (February 10 and 13)
- e-Mail the UBAC at firstname.lastname@example.org
- Contact the UBAC via the anonymous web form
- Send your e-mail through the Staff Council office
- Send your e-mail through the Faculty Senate office
How much do I pay for my healthcare coverage?
Faculty and staff at the University of Vermont pay between 3 and 36% of the cost of coverage, depending on their annual salary. To see what percentage of the total cost you pay, find your employee type on the FY2014 Medical and Dental Costs page on the HRS website and find the line on the chart that corresponds to your salary range. To see the amount per paycheck that your medical coverage costs you, open your most recent paycheck in PeopleSoft (instructions here, if you need them), and look under "Before-Tax Deductions" for the abbreviation that begins with "MED" or "MD." (You can see the full cost of coverage by adding this amount together with the corresponding amount under "Employer Paid Benefits.")
What if I'm not able to attend a Benefits Cost Share Open Forum?
It is recognized that most people will not be able to attend one of the two open forums. The open forums are simply one more opportunity for individuals to share their thoughts and concerns and have them included in the UBAC's Report to the President and Provost. You can accomplish the same end by sending an e-mail to email@example.com, connecting through the Faculty Senate or Staff Council, or using the anonymous web form on the costshare website. All feedback, whether received via e-mail or in person at a forum, will be collected and included (anonymously) in the report to the President and Provost.
I don't feel that I have enough data to understand the full scope of the issues here. Will the UBAC publish information as they did during the Post-Retirement Medical Benefits discussion?
During the PRMB conversations, the UBAC was able to do extensive modeling and they were able to discuss possible scenarios at some of their later meetings. The timeframe for this conversation is such that UBAC has no scenarios or specific examples to share prior to the forums. Any information presented at the forums will likely be quite general in nature, and the same information will be posted on this website in order to make it available to the entire community. If scenarios and/or more detailed information are made available at the UBAC's February 20 meeting, they will also be posted on this website.
Are the UBAC meetings open to all members of the University community? How can I find out who is on the UBAC?
The University Benefits Advisory Council is made up of faculty and staff from across the University, including representatives from bargaining units and non-represented faculty and staff. All UBAC meetings are open and the public is always welcome to attend.
Questions? e-Mail firstname.lastname@example.org.
Last Modified Monday, February 10, 2014 8:34 AM