ASU Employee Benefits Overview
Explore the comprehensive employee benefits offered by Arizona State University, including health and welfare programs, expense sharing structures, retirement plans, and underutilized voluntary group plans.
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Presentation Transcript
ASU Benefits Overview Kevin Salcido Judy Cato
Health & Welfare Programs Offered through the Arizona Department of Administration (ADOA) with no ASU input Arizona universities represent 1/3 of total pool Studies have shown that these university employees subsidize the pool Our preferred arrangement would be our own plan Cost Control Communication Culture
ASU shares major portion of expense EPO Price Structure Employee Monthly ASU Monthly # and % enrolled 3,629 33% 1,382 13% 540 5% 2,646 24% 8,197 75% Employee Employee & Spouse Employee & Child Family $45.32 7% $134.83 10% $114.43 13% $250.39 16% $582.62 $1,197.01 $777.53 $1,311.41 93% 90% 87% 84%
ASU shares major portion of expense PPO Price Structure Employee Monthly ASU Monthly # and % enrolled 893 8% 323 3% 114 1% 738 7% 2,068 19% Employee Employee & Spouse Employee & Child Family $115.57 16% $243.60 $163.15 $284.38 $592.15 $1,252.09 $837.91 1,460.78 84% 81% 84% 84% 19% 16% 16%
ASU shares major portion of expense HDHP Price Structure Employee Monthly ASU Monthly ASU HSA Monthly $60 $120 $120 $120 # and % enrolled Employee Employee & Spouse Employee & Child Family $22.00 6% $66.00 $56.10 $122.10 $394.06 $816.72 $533.89 $909.94 94% 93% 90% 88% 364 - 3% 101 - 1% 33 - 0.3% 228 - 2% 726 - 7% 7% 10% 12%
Retirement plans - mandatory Arizona State Retirement System (ASRS) Defined Benefit Pension Plan Employee Pays 11.94% ASU Pays 11.94% Optional Retirement Plan (ORP) Defined Contribution 401(a) Plan Employee Pays 7% ASU Pays 7%
Underutilized plans Voluntary group plans Auto Life Voluntary retirement plans 403 (b) 457 (f) Tuition waiver
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