The College offers a generous and comprehensive benefits program for all benefits-eligible employees. Our benefits program consists of three IBC medical plans to include Keystone HMO, Personal Choice PPO, and Personal Choice High Deductible Plans; Davis vision; college dental panel plan; basic and voluntary life insurance; 4o3(b) retirement plan; Emeriti retirement health savings plan; tuition reimbursement; and long term care voluntary insurance.
Medical Plan Highlights
Employees working 30 hours or more per week are eligible to enroll in one of three medical plans offered at the College. Employee contributions are made on a pre-tax basis.
The College offers three medical plan options, through Independence Blue Cross (IBC), for 2020, consisting of: Keystone HMO, Personal Choice PPO, and a Qualified High Deductible PPO Plan (QHDP) with HSA.
Differences between HMO (Health Maintenance Organization) and PPO (Preferred Provider Organization) plans include network size, ability to see specialists, costs, and out-of-network coverage. Compared to PPOs, HMOs typically cost less in premiums. However, PPOs generally offer greater flexibility in seeing specialists, have larger networks than HMOs, and offer some out-of-network coverage.
An HMO gives you access to certain doctors and hospitals within its network. A network is made up of providers that have agreed to lower their rates for plan members and also meet quality standards. But unlike PPO plans, care under an HMO plan is covered only if you see a provider within that HMO’s network. In addition, referrals are needed from a primary care physician in order to see specialists.
PPO plans provide more flexibility when selecting a doctor or hospital. Referrals from a primary care physician are not required in order to see specialists. PPO plans also feature a network of providers, but there are fewer restrictions on seeing “non-network” providers. In addition, the PPO insurance plan will cover some of your cost if you see a non-network provider, although it may be at a lower rate and with out-of-pocket cost.
A Qualified High Deductible Health Plan (QHDP) is a PPO-based plan and requires greater member out-of-pocket expense in exchange for lower monthly premiums. This plan also features a Health Savings Account (HSA).
Keystone HMO Plan
Health Maintenance Organization – Important points to remember about this plan:.
- Primary Care Physician (PCP) – You must select a PCP when enrolling, and treat with that physician before treating with a participating specialist.
- Referrals – Specific documentation required from your PCP, authorizing care at a participating specialist for covered services.
- Preapproval/Precertification - Approval from Independence Blue Cross (IBC) for non-emergency or elective hospital admissions and procedures prior to the admission or procedure. Your participating provider will contact Independence Blue Cross for authorization. For more details regarding the HMO plan, please refer to the HMO Plan Summary and the HMO Rx Benefits Summary.
- View the HMO Summary of Benefits and Coverage
Personal Choice PPO Plan
Preferred Provider Organization – Important points to remember about this plan:
The Personal Choice PPO Plan provides you greater freedom of choice by allowing you to select from an expansive network of doctors and hospitals. You can maximize your coverage by accessing care through Personal Choice's network (In-network) of hospitals, doctors and specialists, or by accessing care through preferred providers that participate in the BlueCard PPO program across the country. With Personal Choice, you also have the freedom to select providers who do not participate in the Personal Choice network or BlueCard PPO program (Out-of-network). However, if you receive services from out-of-network providers, you will have higher out-of-pocket costs and may have to submit paid claims for reimbursement.
With Personal Choice PPO:
- You do not need to specify a Primary Care Physician (PCP)
- You never need a referral to see a specialist / you can go directly for care
Personal Choice High Deductible Health Plan (HDHP)
The Personal Choice PPO HDHP provides you greater freedom of choice by allowing you to select from an expansive network of doctors and hospitals. You can maximize your coverage by accessing care through Personal Choice's network (In-network) of hospitals, doctors and specialists, or by accessing care through preferred providers that participate in the Blue Card® PPO program across the country. With Personal Choice, you also have the freedom to select providers who do not participate in the Personal Choice network or BlueCard PPO program (Out-of-network). However, if you receive services from out-of-network providers, you will have higher out-of-pocket costs and may have to submit paid claims for reimbursement.
With Personal Choice PPO HDHP:
- You are responsible for higher initial out-of-pocket expenses, because of the higher deductible
- You do not need to specify a Primary Care Physician (PCP)
- You never need a referral to see a specialist / you can go directly for care
College Dental Plan
All new hires have a 1-year waiting period (from date of hire) before becoming eligible for coverage under the Clinical Dental Panel. Once eligible and enrolled, employees and their eligible dependents have access to five local participating Dental Panel providers, who provide an extensive list of covered dental services. Please refer to the Dental Panel summary of benefits and services.
Davis Vision Plan
The College offers Davis Vision for vision care insurance for 2020. Davis Vision offers members comprehensive routine eye care coverage, including discounted exams and corrective eyewear (frames / lenses and contact lenses). Benefits are maximized when using a participating Davis Vision Provider. For details regarding the plan please refer to the Davis Vision summary of benefits
For more information about Davis Vision and to locate vision providers, please visit the Davis Vision website.
Health Savings Account
A Health Savings Account, or HSA, is an interest bearing “pretax” savings vehicle, which can be funded with either College, or employee pre-tax, contributions. It can be used to pay for qualified health care expenses on a tax-free basis. If elected, the employee’s contribution is deposited into this account during the year. (Changes to the contribution amount can be made during the year, subject to maximum IRS contribution limits.)
An HSA works very much like a flexible spending account (FSA) with some advantages. In addition to higher annual contribution limits versus an FSA, the money in the HSA account is fully owned by the employee, and the balance can be carried forward into future years without fear of forfeiture. Note: IRS guidelines prohibit an employee from participating in a health care FSA account if they are enrolled in the QHDP/HSA account option.
A Health Savings Account (HSA) is only available to employees enrolled in the High Deductible Health Plan (HDHP). The College will contribute $700 annually towards your HSA account for “employee only” coverage, and $1400 annually for “family” (employee + 1 or more) coverage. Part-time employees would receive $350 for employee only coverage, and $700 for family coverage.
- New hires enrolling in an HSA account are not eligible for the College HSA contribution until the beginning of the following plan year - January 1.
- Persons currently enrolled in Medicare, or who will be enrolling in 2020, are not eligible for HSA accounts. Please go to Bank of America for details.
HSAs Empower Health Savings: As an HSA user, you save in several ways:
- Lower monthly health insurance premiums
- HSA contributions to your account are made before federal and FICA taxes
- You earn tax-free interest on HSA account balances
- HSA funds, used for qualified medical / health care expenses, are tax-free
HSA Funds Remain Yours to Grow
HSA funds are fully owned by the participant. Unlike flexible spending accounts (FSAs), the entire HSA balance remains yours even if you change health plans, retire, or leave the College. For further details regarding HSAs, please visit these links: benefits of HSA investing and HSA investment options.
HSA Contribution Limits
Plan year 2020 Annual Contribution Limits: Individual = $3,550 / Family = $7100 (these amounts include the College contribution)
Age 55 Catch-up: An additional $1,000 contribution per year is allowable for employees who will be age 55 in 2020.
The College HSA provider is Bank of America. Please refer to the Bank of America HSA webpage for further information and to review and manage your HSA account. Employees enrolling in the HSA account for 2020, for the first time, will receive a Welcome Kit from Bank of America with instructions on managing their account.
If you have a remaining balance in another HSA account, and would like to transfer that balance to your Bank of America HSA account, please refer to this Transfer Request Form.
Flexible Spending Account (FSA)
PayFlex is the administrator for the Flexible Spending Accounts program. This program allows employees to save money on a pre-tax basis to pay for unreimbursed (out-of-pocket) qualified health / medical care expenses, and certain dependent care expenses. In these accounts, you save a portion of your pay with pre-tax dollars (though payroll deduction), thereby reducing your federal income tax burden. Specifically, the plan allows you to contribute your own money, before federal income tax, Social Security tax, and state tax (exceptions apply) to accounts, which will then be used to reimburse you for qualified out-of-pocket health care or dependent care costs. Reimbursements are, in essence, the employee’s own money paid back tax-free. NoteIRS guidelines prohibit an employee from participating in a health care FSA account if they are enrolling in the QHDP/HSA option.
There are three (3) types of FSA accounts: Health Care Spending Account, Dependent Care Spending Account, and Limited-Purpose Spending Account.
Health Care FSA
You may have money deducted from your pay on a pre-tax basis to cover qualified medical expenses that are not covered by your medical, prescription drug, dental, or vision insurance. The annual health care flexible spending account contribution maximum for 2020 is $2,750. (A Grace Period exists to allow participants to incur claims through March 15, 2021, and submit them by March 31, 2021 against the 2020 plan year account balance.) Reminder: Because of the healthcare reform legislation, you may utilize funds in your medical flexible spending account to pay for qualified medical expenses for qualified dependents to age 26. Flexible spending accounts operate on a calendar year basis. If you wish to participate for 2020, you must enroll via Workday. An FSA debit card will be issued to all new members who are enrolling in the Health Care FSA for 2020. Important: The IRS applies a “forfeiture rule” to FSA accounts: If the amount in the FSA account is not used by the end of the calendar year (Dependent Care account), or by the end of the Grace Period (Health Care account) – that remaining balance is forfeited and returned to the College. Remember that you should only fund the flex accounts for eligible expenses that you “expect” to incur in 2020.
Great Reasons to Enroll In a Health Care FSA
- Contributions are made with pretax dollars from your paycheck, up to the Internal Revenue Service (IRS) limit of $2,700
- Your full contribution is available at the start of the plan year
- If you and your spouse both have a health care FSA, you can each contribute up to the IRS limit
- Pay for eligible health care expenses for you, your spouse and/or your tax dependents. Such expenses may include: Copays, coinsurance and deductibles, dental expenses like orthodontia, crowns and bridges; vision expenses like LASIK laser eye surgery, glasses and contacts; and prescription drugs
Dependent Care FSA
You may have money deducted from your pay on a pre-tax basis (federal tax) to cover the costs for qualified dependent care expenses. The maximum limit for the 2020 calendar year is $5,000 per family. You save money by paying for these expenses with pre-tax dollars.
What Are Some Benefits to Enrolling In A Dependent Care FSA?
- Contribute pretax dollars from your paycheck, up to the IRS limit of $5,000
- Funds are for your dependent(s) age 13 or younger or a spouse or dependent incapable of self-care
- Pay for eligible child and adult care expenses, such as: day care, before and after school care, preschool and nursery school, and summer day camp
You may have money deducted from your pay on a pre-tax basis to cover qualified dental or vision care expenses. You must be enrolled in a QHDP and enrolled in an HSA in order to elect this type of FSA arrangement. The maximum annual contribution amount for a Limited Purpose FSA for 2020 is $2,750.
Limited Purpose FSA
Limited purpose FSAs are available only for employees enrolled in the HDHP with an HSA Account. Eligible expenses may include:
- Dental and orthodontia care
- Vision care: including eyeglasses, contact lenses and LASIK laser eye surgery
Important note: This plan is designed in post-deductible phases. This means before you meet your health plan deductible, funds are used for dental and vision expenses only. Then once you meet your health plan deductible, you can use funds to pay for all eligible health care expenses.
For details regarding the FSA, please refer to our plan summaries:
Genworth Group Long Term Care Insurance (GTLC)
Long term care insurance is coverage that you purchase through the College, with post-tax dollars, in the event that you will need some form of long term care as you age. If you are unable to perform simple everyday tasks by yourself, you will need long term care services or support.
Once a need for care has been established, long term care insurance helps cover the costs of care providers and support services in the location that’s right for you. Coverage helps fund not just in-home care, but can also be used to fund necessary home modifications. If you require an assisted living facility or nursing home, your coverage goes toward those costs. You choose the amount of coverage that’s right for you and then apply that coverage amount to the cost of the care you need.
UNUM Basic Life, Voluntary Life, & Long Term Disability Insurances
Basic Life Insurance
Eligibility: Employees working 35 or more hours per week over 9 months are eligible for all life insurance coverage options.
Eligible employees are provided Basic Group Term Life Insurance coverage, through Unum Insurance, in the amount of $50,000 at no cost. Coverage is effective on the first of the month following, or concurrent with, the first day of employment. (Age reductions begin at age 65.)
For details regarding Basic Life insurance coverage, please refer to the Certificate of Coverage.
Voluntary Life Insurance
Unum Insurance Company also offers Voluntary Life Insurance for employees over and above the non-contributory (free) Basic Life coverage already provided by the College. New employees may purchase Voluntary Life Insurance in increments of $10,000, up to 5 times annual salary (not to exceed $500,000). A maximum amount of $150,000 may be elected (not to exceed 5 times salary) without the need for medical insurability / underwriting, as a new hire. Evidence of insurability (medical questionnaire from Unum) would be required if electing any amount greater than $150,000. Premiums, which are determined by the amount of the insurance taken and the age of the employee (based on age-banded rates), are fully paid by the employee through payroll deduction.
Accidental Death (AD&D) / Dependent Life Insurance
Qualified benefit eligible employees may purchase Accidental Death Insurance (AD&D) for themselves, and Dependent Life Insurance and AD&D Insurance for their spouse/partner and/or dependent children (to age 26). Coverage amounts are listed below:
- Employee: Up to 100% of Voluntary coverage, in increments of $10,000, not to exceed $500,000.
- Spouse/partner: Up to 100% of employee Voluntary coverage, in increments of $5,000, not to exceed $500,000. (Benefit is payable to employee.)
- Child: Up to 100% of employee Voluntary coverage, in increments of $2,000, not to exceed $10,000. (Benefit is payable to employee.)
- Spouse / Partner: Up to 100% of employee Voluntary coverage, in increments of $5,000, not to exceed $500,000. (Benefit is payable to the employee.)
- Dependent Child: Up to 100% of the employee Voluntary coverage, in increments of $2,000, not to exceed $10,000. (Benefit is payable to the employee.)
For details regarding Voluntary, Dependent, and AD&D insurance coverage, please refer to the Cerficate of Coverage.
Employees electing certain amounts of Voluntary Life Insurance, or Dependent Life Insurance, may have to complete an Evidence of Insurability (EoI) form for Unum Insurance.
Long-Term Disability (LTD) Insurance
Eligibility: Employees working 35 hours per week over 9 months are eligible for LTD coverage.
Eligible employees are provided Long-term Disability Insurance (LTD) through Unum Insurance at no cost. This insurance provides income replacement benefits of up to 60% of base monthly earnings (maximum monthly benefits of $15,000). LTD insurance payments begin after a 180-day elimination period (considered Short-Term Disability) for a qualified medical condition which causes the employee an inability to perform the essential functions of their job resulting in a loss in earnings. LTD payments provide an income-replacement component, and a retirement plan contribution component. The duration of benefit payments depends on the age at which disability begins and may continue until Social Security Normal Retirement Age.
For details regarding Long Term Disability insurance coverage, please refer to the Certificate of Coverage.
403(b) Retirement Benefits
Upon meeting the eligibility requirements described below, until July 31, 2020, the College contributes an amount equal to 11% of base salary to a 403(b) defined contribution retirement plan for a full-time or part-time benefit-eligible employee. Effective with paychecks received from August 1, 2020 through September 30, 2020, the College contribution will be halted (the College contribution during this period will be 0%). Effective for paychecks received on or after October 1, 2020, the College contribution will resume at 10% of base pay / salary.
Non-Exempt Staff Employees: College Retirement Contribution
Non-exempt staff employees must complete one year of service at Haverford College as a full-time or part-time, benefit-eligible employee (working at least 1,000 hours per calendar year) in order to receive the College’s contribution into their 403(b) defined contribution retirement plan.
Regular Exempt Faculty and Staff Employees: College Retirement Contribution
Exempt Faculty and Staff employees are eligible to receive the College’s contribution on their first day of hire as a full-time or part-time, benefit-eligible employee (working at least 1,000 hours per calendar year).
Fixed-Term Exempt Faculty and Staff Employees: College Retirement Contribution
Fixed-Term exempt Faculty and Staff employees must complete one year of service at Haverford College as a full-time or part-time, benefit-eligible employee (working at least 1,000 hours per calendar year), in order to receive the College’s contribution into their 403(b) defined contribution retirement plan.
The Haverford College Retirement Plan is a “defined contribution” plan covered under Section 403(b) of the Internal Revenue Code. All contributions to the plan, both Employer and Employee (voluntary pre-tax) are 100% and immediately vested. (Employee has full and immediate ownership of these contributions.)
In addition to the College’s contribution to the Plan described above, all employees may at any time begin making voluntary, pre-tax and tax-deferred, contributions to the 403(b) retirement plan. Employees must use Fidelity’s Net Benefits portal to initiate or revise payroll deductions for these voluntary contributions. Employees can also use Fidelity’s Net Benefits portal to direct and allocate contributions between Fidelity and TIAA/CREF funds.
Employees can select from a diverse investment fund lineup which collectively covers all major asset classes. If an investment fund is not specifically selected, the employee will be enrolled in a target-date investment fund as the default fund. Employees can choose investment funds on the Fidelity Investments and TIAA fund platforms. Fund and contribution allocations can be changed at any time of the year within the employee’s portfolio via the Fidelity NetBenefits website.
In-service distributions are permitted from the plan (all sources) upon attaining age 59 1⁄2. Loans and hardship withdrawals are also permitted from the plan subject to certain restrictions and limitations.
*Note: For 2020, CARES Act distributions / withdrawals may also be allowed from the plan upon meeting certain criteria.
(Please refer to the Haverford College Retirement Plan Summary Plan Description (SPD) for further details about the plan.)
Fidelity NetBenefits - As the Master Administrator for Haverford College, employees must log into Net Benefits to add or change their account contributions for both Fidelity and TIAA accounts with Haverford College. Both Fidelity and TIAA account holders may view their balances in Net Benefits; TIAA participants must go to the TIAA website to view detailed information such as contributions, investment allocation, etc. For assistance, please call Fidelity's customer service at 800-343-0860 or contact the Office of Human Resources.
TIAA - Only TIAA account holders may view and make changes to your their account via the TIAA website. No contribution changes can be made via TIAA's portal. Please refer to Net Benefits above to add or change contributions. Employees may view both their 403(b) retirement account (if with TIAA) and their Emeriti health retirement account (if eligible) via the TIAA site. Fidelity account holders must go directly to Net Benefits for their Fidelity account to see any information including Haverford's contribution. For assistance, please call TIAA's customer service at 800-842-2252 or contact the Office of Human Resources.
Emeriti Retirement Health Solutions
The College will automatically contribute $1000 per year to a TIAA account for all benefit eligible employees who are 40 years of age. Employees become 100% vested after seven years of employment. The Emeriti funds are invested with TIAA and are designed to help you accumulate savings for healthcare expenses in retirement. You may also be able to make your own voluntary, after-tax contributions. In retirement, you and your dependents use the tax-free savings to pay for qualified medical expenses (QMEs).
For details regarding this health savings retirement plan, please visit the Emeriti webpage.
Benefits of the Emeriti Retirement Health Savings
- Employer Contributions
Tax-free employer contributions for participants during active service
- Investment Earnings
Tax-free investment earnings for participants
- Participant Reimbursement
Tax-free participant reimbursement for qualified medical expenses in retirement
- Medicare Advantage Plans Available Upon Retirement
You may also have access to group retiree health insurance, underwritten by Aetna Life Insurance Company. Because the plans are designed exclusively for Emeriti, retirees get richer coverage, added benefits, and personalized one-on-one counseling to help you determine what plans are best for you and your dependents.
- Employer Contributions
Tuition Grant Program
Eligibility: Employees (faculty, administrators, exempt and non-exempt staff) working 20 or more hours per week over 9 months.
The College provides a Tuition Grant benefit for qualified benefit-eligible employees (faculty, administrators, exempt and non-exempt staff) (fixed-term and temporary employees are excluded) - who have held a benefits-eligible position for seven years preceding the utilization of the Tuition Grant benefit. This tuition benefit is available only for tax-qualified dependent children of the employee.
Once eligible, employees can receive a 50% tuition grant benefit (50% of the tuition of the school being attended, not to exceed 50% of Haverford’s tuition for that academic year). The maximum tuition grant benefit payable “per child” is 8 academic semesters; the maximum grant benefit payable for “all children” is 16 academic semesters.
The College provides approximately 14 paid holidays to benefit-eligible employees. The number of days may vary each year depending on the dates of observed holidays.
Independence Day - Friday, July 3, 2020
Labor Day - Monday, September 7, 2020
Thanksgiving - Thursday, November 26, 2020 and Friday, November 27, 2020
Winter Recess - Thursday, December 24, 2020 through Friday, January 1, 2021
Martin Luther King Day - Monday, January 18, 2021
Spring Break - Thursday, March 11, 2021 and Friday, March 12, 2021
Memorial Day - Monday, May 31, 2021
Independence Day - Monday, July 5, 2021
Labor Day - Monday, September 6, 2021
Thanksgiving - Thursday, November 25, 2021 and Friday, November 26, 2021
Winter Recess - Friday, December 24, 2021 through Monday, January 3, 2022
Martin Luther King Day - Monday, January 17, 2022
Spring Break - Thursday, March 10, 2022 and Friday, March 11, 2022
Memorial Day - Monday, May 30, 2022
- Physical Therapy
Health Advocate, Inc. is a U.S. national health advocacy, patient advocacy and assistance company, offering a spectrum of services to help employees navigate the healthcare system and to facilitate interactions with insurers and providers. Health Advocate uses registered nurses, medical directors, and benefits specialists to assist employees in addressing a range of health care and health insurance issues. Personal health advocates can help members locate providers, address errors on medical bills, answer questions about coverage denials, and assist with insurance appeals. Visit online at healthadvocate.com/members, or call 1-866-695-8622.
For more information, view the health advocate summary document.
RideEco is a College offered fringe benefit. It helps commuters pay for the cost of getting to work on public transportation. RideEco allows commuters to use pre-tax dollars to pay for their commute. Commuter benefits are fringe benefits that cover an employee's transportation-related expenses (travel from their residence to the College) with pre-tax dollars. Transportation benefits are exempt from federal income tax withholding, Social Security and Medicare (FICA) taxes.
Haverford College provides certain benefits to your domestic partner and their eligible children under the Haverford College Welfare Benefits Plan, provided you and your domestic partner complete and sign this Affidavit of Domestic Partnership. You must sign this Affidavit in the presence of a Notary Public, and return it along with supporting documentation to the Office of Human Resources at the address listed below. Once your Affidavit and documentation have been reviewed, you and your domestic partner will be informed as to whether any further information or action is required.
Carebridge Employee Assistance Program (EAP)
Carebridge is a free and confidential resource that provides counseling, information, and referral services, to help address personal, family, and work-related issues, and provides support for you in completing daily life responsibilities. Counselors have advanced degrees and are credentialed and experienced in helping you and/or your eligible dependents. You can contact Carebridge at 800-437-0911 or log on to: www.myliferesource.com. (Haverford’s code is TTY4N).
Home Purchase Assistance Loan Program (Faculty)
Home Purchase Assistance Loan Program
Eligible, tenure-track and continuing appointment faculty interested in purchasing a primary residence home within 20 miles of the campus in Pennsylvania may be eligible for a loan through Haverford College’s Home Purchase Assistance program. The College provides certain unsecured loans for either the first-time purchase of a home or the purchase of a new home. Contact email@example.com with any questions.