Summary
This policy addresses eligible individuals’ responsibilities for paying benefit costs and notification of changes in qualifying events.
If any part of this policy does not reflect the Collected Rules and Regulations (CRR), or the benefit Summary Plan Descriptions (SPD), the provisions of the CRR and SPD will govern.
HR Policy Provisions
- Employee Premium Charges
- Initial and final premiums
- If initial coverage begins on any day other than the first day of the month, no premium will be charged for the first partial month of coverage.
- A full month's premium will be charged for the employee’s final month of coverage, regardless of whether the employee worked a partial or full month.
- Premiums are not prorated. If a bi-weekly paid employee's pay is sufficient to cover only one of the month's bi-weekly pay cycle deductions, the employee is considered a participant for the full month and premiums will be collected in accordance with paragraph C.
- The employee portion of all benefit costs shall be paid through payroll deductions, whenever possible, during the month of coverage.
- If the University is unable to process such deductions, the deductions will be made from a later payroll or may be invoiced by UM Office of Human Resources.
- Flexible Spending Account (FSA) or Health Savings Account (HSA) deductions can only be taken when there is sufficient pay
- Initial and final premiums