Employee Benefits Policy
Revision date of this archived policy:
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90.1 |
Policy |
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It is the express intent of the University to provide an employee benefit program to satisfy the primary needs of employees and their immediate dependents. In a continuing effort, the University will attempt to ensure that its benefit plans offer the best protection at the lowest cost to employees. At the same time it should be recognized that any financial commitment made by the University to the benefit program must be harmonious with available supporting resources. |
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90.1.1 |
Most University insurance plans are governed by the University's own group experience. Therefore, premium rates are determined by the claims paid on University group members and are not directly influenced by the cost of claims paid outside the group. |
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90.1.1.1 |
It should also be noted that some plans, such as Health Maintenance Organizations, are not group rated, but are subject to the community experience for rate determination. |
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90.1.2 |
The plans and programs described in the following policies (Numbers 91.0 - 99.0) are governed by the applicable insurance contracts. |
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90.1.2.1 |
In case of a dispute, official actions of the Board of Trustees and the contracts with external companies shall prevail. |
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90.1.2.2 |
For an in-depth understanding of the insurance policies, an employee should refer to the insurance certificates or current insurance brochures. |
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90.1.2.3 |
In case of long term disability, the trust agreement and other paper work pertaining to the 501(c)(9) Trust prevail over any statements in Human Resources Policy and Procedure Number 95.0: Long Term Total Disability Program. |
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90.1.2.4 |
Information about retirement is found in the University of Kentucky Retirement Plan (AR II-1.6-1). |
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90.1.3 |
The University reserves the absolute right to seek quotations and/or competitive bids, to modify or change, and to abolish or consolidate any of these programs and plans, or any portion thereof, as deemed appropriate and in the best interests of the University and its employees. |
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90.1.4 |
With the exception of life insurance these policies are primarily directed to University employees who are not covered by the United States Civil Service benefits package. |
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90.2 |
Delegation |
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Administration of all of these policies is a function of the Employee Benefits Office. |
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