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Medical insuranceMedical Insurance is administered by BlueCross BlueSheild of Illinois. Single coverage plans for full-time employees is provided at no cost to the employee. Employees who purchase coverage for their dependents pay$254.05/mth for the HMO plan & $338.73 /mth for the PPO plan.
Prescription drugs Prescription drugs is available to participant medical insurance employees. The HMO user drug prescriptions filled with a generic drug is $10; a formulary drugs costs $20; a non-formulary costs $35. The PPO user drug prescription filled with a generic drug is $10; a formulary brand costs $20; a non-formulary brand costs $30. Mail-order service is also available for prescription drugs for acute and long-term needs.
Dental insurance through a dental HMO is provided at no cost to full-time employees. Dependent insurance and an out-of-network option also are available. The employee's cost is determined by the type of coverage selected. The dental insurance program is administered by First Commonwealth, the Midwest's largest and fastest growing dental benefits provider.
Vision insurance for full-time employees at no cost is provided by Vision Service Plan (VSP). Dependent coverage is available at a monthly cost of $3.33.
Long term care insurance for many full-time employees is provided by UNUM Life Insurance Company of America. Premiums for the basic plan is covered in-full by the college. Employees are able to enhance their coverage by purchasing "buy-up" options.
Life insurance for full-time employees is provided at no cost. Employees may purchase additional coverage for themselves and their dependents. The cost of this coverage is based on the age of the insured and the amount of insurance desired. The college's life insurance program is administered by Raliance Standard.
Retirement System. All employees are required to enroll in State Universities Retirement System of Illinois (SURS), a state retirement system in which all Illinois public colleges and universities participate. Retirement, disability, and death and survivor benefits are provided by SURS. Employee contributions to SURS are tax deferred. Federal income tax is paid when the participant begins to receive a benefit from SURS.
Disability insurance is an optional benefit available to full-time employees through a program offered by Assurant Employee Benefits. It is designed to supplement disability benefits provided by SURS.
Flexible Benefits Program (Section 125). Premium conversion, medical reimbursement, and dependent care reimbursement plans are available to full-time employees. Allied Benefits System administers these plans for the college.
Credit Union. Hawthorne Credit Union membership is available to employees and their spouses. Some of the available financial services include saving programs, automobile loans, certificates of deposit, and home mortgages.
Section 403(b) Programs are offered by the companies listed below. A Section 457(b) plan option is also offered through TIAA/CREF. Morton College does not endorse any of these companies or the products they sell. Further, it does not assume responsibility for any financial loss employees may suffer as a result of participating in a 403(b) program. Additional information can be obtained by contacting a company directly.
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