Since last week's faculty meeting, I have
received requests from several faculty members for clarification of the benefit changes.
I hope the following is helpful.
In the past, Smith offered a discounted rate
for family coverage of health insurance for married couples or eligible domestic
partners who both worked at Smith. Twenty-four couples remained eligible for this
benefit at an annual cost to the college of approximately $100,000. The discounted
rate provided significant reductions in costs, as follows:
Family HMO Plan: Most employees pay
$352.46 a month; the employees eligible under this policy paid $10 a month.
Point of Service Plan: Most employees
pay $571.82 a month; the employees eligible under this policy paid $134.55 a month.
This generous benefit for a small group of employees
was terminated as part of the $22 million budget reduction. The change was personally
communicated to each participant in December of 2009. To mitigate the impact on affected
employees, the elimination of the benefit was phased in, with the benefit reducing
by half in 2011 and eliminated in 2012.
As referenced under the Tuition
Plans Criteria section of the Staff Handbook, when two employees are married/partnered
they are entitled to only one tuition benefit per eligible child.
Employees hired
prior to July 1, 2010 are eligible for a benefit equal to 40 percent of tuition,
up to a maximum of $14,423 (40 percent of Smiths 2008-09 tuition); 3 year waiting
period.
Employees hired July 1, 2010 or after are eligible for
a benefit equal to 40 percent of tuition, up to a maximum of $10,000; 5 year waiting
period.
The Tuition Assistance for Dependents policy will be
reviewed again in 2012.
Sincerely,
Larry Hunt
Executive Director of Human Resources |