Benefit Summary
Below is a summary of the benefits that are provided at Methodist University along with the eligibility
requirements of each. This is not intended to be a full explanation of the benefits or a plan document. Please
contact the HR Department for a more comprehensive review of our benefits.
Health Insurance – (See Plan Document for full benefit details)
Eligibility – 1st day of employment, available for Full Time Employees working more than 30 hours per week.
Methodist University provides an opportunity for our employees to elect one of 3 different health insurance
plans through Blue Cross Blue Shield of North Carolina. The employee can elect employee and employee
/child(ren) coverage. Both the employee and the University will make premium contributions. This benefit
provides an opportunity for the employee to elect health coverage that best meets their needs. They can elect
a $500 deductible plan, a $1500 deductible plan, or an HRA plan with a $3500 deductible and a $1500
University first pay contribution to the deductible. This will provide for routine and major medical needs.
Flex Spending Account – (See Plan Document for full benefit details)
Eligibility – 1st day of the quarter following the employees start date, available for Full Time Employees working
more than 30 hours per week.
Methodist University provides medical and dependent care reimbursement accounts. Employees can
designate what their expenses will be for medical services and/or dependent day care and elect to have an
amount deducted from their paycheck through a pre-tax deduction. These funds can then be used for
qualifying medical expenses or dependent day care costs. Medical reimbursement has a $2550 maximum
limit. Dependent day care expense has a $5000 maximum limit.
Dental Insurance – (See Plan Document for full benefit details)
Eligibility – 1st day of the quarter following the employees start date, available for Full Time Employees working
more than 30 hours per week.
Methodist University offers two dental plan options. The cost of the coverage is paid by the employee but
premium dollars are a pre-tax payroll deduction. This provides basic dental coverage. The coverage is through
Metlife.
Vision Insurance – (See Plan Document for full benefit details)
Eligibility – 1st day of the quarter following the employees start date, available for Full Time Employees working
more than 30 hours per week.
Methodist University offers a vision plan option. The cost of the coverage is paid by the employee but
premium dollars are a pre-tax payroll deduction. This provides basic vision coverage through VSP providers.
The coverage election is through Superior.
Last revised 01/07/2016
Colonial Life Insurance
These products include short term disability, additional life insurance and other various types of policies. You
will be notified when you should meet with the representatives from Colonial. The cost of this additional
coverage is paid by the employee, and according to the policy, may be set up as a pre-taxed deduction.
Life Insurance – (See Plan Document for full benefit details)
Eligibility – 1st day of employment, available for Full Time Employees working more than 30 hours per week.
The company provides a life insurance policy to all eligible employees. The benefit amount is 1.5 times your
annual salary. Methodist pays the premium for this policy. This coverage is through USAble.
Employees can elect additional coverage through Colonial or USAble at their own cost. They will be eligible for
that coverage the 1st day of the quarter following the employees start date.
Retirement 403(b) – (See Plan Document for full benefit details)
Eligibility – 1st day of employment for employee contributions. 1st of the month after 1 year for University
contributions. Available for Employees working at least 1000 hours during the eligibility measuring period.
Methodist University provides a 403(b) retirement plan through TIAA Cref for all eligible employees. Any
eligible employee may begin making contributions immediately to a 403(b) plan. In addition, after one year
the University will begin making contributions to the employees 403(b). The University contribution will
depend on the financial status of the University. The contribution is currently at 6% of earnings.
NOTE: If you had a retirement benefit with your previous employer, and it is a qualifying plan (501(c)(3)
organization, educational organization, or ministry) you will receive credit for that time. Obtain details from
the HR Department.
Long Term Disability LTD– (See Plan Document for full benefit details)
Eligibility –1st of the month after 2 years. Available for Employees working more than 30 hours per week.
After 2 years of employment the University will provide long term disability coverage. Such that in the event
you are unable to work after more than 180 calendar days, the long term disability coverage will provide you a
% of earnings while you are unable to work due to a qualifying medical condition.
NOTE: If you had LTD coverage with your previous employer in a qualifying plan, you may be eligible to begin
our LTD coverage immediately. Obtain details from the HR Department.
Tuition Remission – (See Staff Handbook for full benefit details)
Eligibility – 1st available enrollment period after 6 months of employment, available for Full Time Employees
working more than 30 hours per week.
Full time employees may receive tuition remission for themselves or eligible dependents. See University policy
to determine eligibility amounts and requirements.
Last revised 01/07/2016