Premium Only Plan Benefits

UNI offers a comprehensive benefits package to eligible
employees and their qualified dependents. Employees have
the option to enroll in health, dental & vision insurance plans.
Use this site to review an overview of the University provided benefits
along with the corresponding premiums.
Health, Dental & Vision Benefits

List of Health, Dental & Vision Benefits

Complete List of Benefits




Frequently Asked Questions: Click Here



Forms and Resources
Premium Only Plan Enrollment Form (PDF)
 



Quick Tips
Any employee who is eligible for and enrolls in the family health and/or dental plans may elect to pay their premiums with pre-tax dollars instead of post-tax.

Enrollment in the Premium Only Plan means that premiums are no longer includable as itemized tax deductions.

Enrollment is automatically renewed each year.
 


Description of Premium Only Plan

Any employee who is eligible for and enrolls in the health and dental plans with an employee premium cost can enroll in the optional pre-tax premium plan.

Employees may elect to pay their portion of the family health and/or dental insurance premiums with pre-tax dollars instead of post-tax. Enrollment in this program will result in lower Federal and State Income Tax and Social Security and Medicare Tax withholding and therefore greater take-home pay.

Participation begins when your first health and/or dental insurance premium is deducted from your payroll, providing you enroll at the same time you enroll in the insurance plan(s). You have 30 days from the date of employment to enroll in the program, but if you delay enrollment beyond the time you enroll in the insurance plan(s), the first premium deduction may not be made pre-tax.

Enrollment in this program does mean that the premiums are no longer includable as itemized tax deductions. However, it also means that you gain immediate and assured tax deductibility for your federal income taxes, rather than tax deductibility only if you itemize and then only if your health and dental expenses exceed 7.5% of your adjusted gross income.

Employees enrolling domestic partners in the health and/or dental plan may not use the Pre-Tax Premium Plan due to IRS regulations.



Example of Savings

Assumptions: Budgeted annual salary of $40,000 paid over ten months. Enrollment in family health and dental insurance plans. Tax bracket of 15% for federal tax and 5% for state tax.

  FLEX NON-FLEX
Monthly Salary $4,000.00 $4,000.00
Flex Health Premium $366.00  
Flex Dental Premium $54.00  
Taxable Salary $3,580.00 $4,000.00
Non-Flex Health Premium   $366.00
Non-Flex Dental Premium   $54.00
Federal Income Tax $537.00 $600.00
State Income Tax $179.00 $200.00
FICA/Medicare Tax $273.87 306.00
Take Home Pay $2,590.13 $2,474.00

Your reduction in withholding = $116.13 per month or $1,161.30 per year.





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Date Updated:April 22, 2010