2011 Benefits Program Credits
General Benefits Credit
All faculty and staff will be provided $90 per month in General Benefit Credits that can be used at their discretion toward any of the following:
- the cost of family health or dental insurance
- the purchase of additional group life or supplemental life insurance
- the purchase of accidental death and dismemberment insurance
- funding a dependent care or health care spending account
Shared Savings Credits
Depending on the choices a faculty or staff member makes, they may be eligible for Shared Savings Credits, which they can use in the same manner as the General Benefits Credits. When benefit choices in certain areas are made by staff that generate savings for the University, a portion of that savings is passed on to the employee. Shared Savings Credits are available for:
Individuals who have health insurance, but are not enrolled through a spouse or partner in a University or State of Iowa health insurance plan, will receive $200 per month in Shared Savings Credits as an incentive to remain with their current insurance provider.
Individuals who have dental insurance, but are not enrolled in a University or State of Iowa dental insurance plan will receive $25 per month in Shared Savings Credits as an incentive to remain with their current insurance provider.
Individuals with an annual salary over $25,000 and who select the $50,000 coverage option for group life insurance will receive $40 per month in Shared Savings Credits. The life insurance Shared Savings Credit will be
in effect for the first year, but will be subject to further review for continuation into subsequent benefit years.
If you have questions or concerns regarding the enrollment process, please contact: