Full-Time Faculty and Part-Time Faculty currently enrolled in SISC should have received in the mail at your home address, open enrollment forms for medical insurance. The open period for both FT and currently enrolled PT faculty is from June 12 to August 25. A separate open enrollment for newly eligible and not currently enrolled PT faculty will occur in August and the deadline will be communicated by Benefits when this occurs. This enrollment period is only for our SISC medical enrollment. If you are adding dependents, you must provide documentation. (enrollment for vision, dental and American Fidelity deductions starts in October with a January 1, 2018 effective date).
New Tiered Rates for Fringe Benefits
CCFT has been supplementing the District fringe amounts for two-party and family rate payers for about 3 years. Up to this year, the supplement was accomplished by an “insurance pool”. We previously convinced the District to return to faculty all the dollars budgeted, but not used for faculty benefits. The insurance pool dollars, however, up to now, have been provided in a single taxable payment each semester. The downside to this is that the extra dollars are taxed. Also the dollars available in the pool have been declining with increasing insurance costs.
Beginning 1 July 2017, the CCFT Negotiating team was able to convert the insurance pool dollars into a fixed “tiered benefit”. The amount of the tiered benefits is set to be just above the average of the last two years of insurance pool payments. This will stabilize the payments and allow them to be “pre-taxable” fringe benefits Note that Fringe is not automatically pre-tax, it is the benefit deductions that come out pre-tax IF the employee has completed the pre-tax election with American Fidelity at Open Enrollment in the fall.
For employee only rate-payers, there is no change, but the fringe amount still covers medical plan B plus vision and dental. For two-party and family rate payers, the tiered fringe will reduce your out of pocket costs depending on what plan you choose. I wanted to get this information out to you now so you can assess what plan is best for you. The tiered fringe benefit amounts are below.
Tiered Rates Effective 1 July 2017
Employee Only – No Change ($634.24 FT/$317.12 PT)
Two Party — $830/month (Full-Time) / $415/month (Part-Time)
Family — $1030/month (Full-Time) / $515/month (Part-Time)