Human Resources Manual

Policy No.: 4-1 This policy applies to:
Policy Name: Employee Benefits Non-exempt staff
Effective Date: 08/01/04   Exempt staff
Revised: 08/01/2016 Faculty

Policy

Loyola University New Orleans has a strong commitment to offer a competitive benefits package for its employees.  In addition to mandated benefits such as Social Security, Medicare, unemployment and workers’ compensation insurance, Loyola provides retirement contributions, basic life insurance/AD&D coverage, extended sick leave and long-term disability coverage.  Employees also may choose from among a number of other health and welfare and retirement savings options such as:

  • Three levels of medical coverage:  Core, Basic, Plus
  • Two levels of dental coverage:  DHMO and DPPO
  • Voluntary Vision Coverage
  • Flexible Spending Accounts
  • Voluntary term life insurance for employees and dependents
  • Voluntary Accidental Death & Dismemberment (AD&D) Insurance
  • Voluntary Supplemental Retirement Plan

Retiree medical and life insurance coverage is available for those age 50 and above with 5 or more years of continuous, full-time service.

Loyola reserves the right to change or terminate benefit plans at any time.

Procedures

Coverage is effective the first day of the month on or after an employee’s start or eligibility date.  Proof of legal relationship will be required at coverage enrollment for spouse and/or eligible dependent child(ren).

Newly eligible employees must complete an enrollment form to elect benefit coverage with the respective carrier prior to their effective date of coverage.  Each Fall, all employees have the opportunity to add, delete or change health and welfare benefits during open enrollment.  Supplemental Retirement Plan contribution changes may be made at any time and are subject to IRS limitations. 

Premiums are paid through payroll deductions generally on a before-tax basis.  This increases spendable income because social security, Medicare, Federal and state income taxes are not paid on the amount of the insurance premiums withheld.

Change/Cancel Coverage:  Under Federal before-tax regulations, you cannot increase, decrease or cancel your before-tax deductions for health insurance or flexible spending accounts except during Open Enrollment.  Each Fall, all employees have the opportunity to add, delete, or change health and welfare benefits during open enrollment.  An exception to this rule* is if you have a change in employment or family status or a qualifying event that may include:

--marriage, divorce, or death of employee, spouse or dependent child;

--birth or adoption of a dependent child;

--termination or starting work by participant, spouse or dependent child;

--reduction in scheduled work hours (such as less than 30 weekly) resulting in loss of benefits

*The change in coverage must be made within 30 days of the status change.

Leave of Absence:  Coverage may remain in effect for those employees who are on a leave of absence, including parental leave.  It is very important that you contact the Human Resources Office before you take a leave of absence.

Termination of Employment:  Participants who terminate employment for any reason (other than gross misconduct), or who have a reduction in hours that makes them ineligible to continue their group health insurance coverage, have the right to continue coverage for themselves and their eligible dependents for up to 18 months under COBRA.  Notices will be sent by mail to the last known address on file.

Employees are required to notify Human Resources if their dependent becomes ineligible for coverage within 60 days.  COBRA rights notices will then be sent to the ineligible dependent.  Further information can be found under COBRA or refer to your health insurance booklet (Certificate of Coverage) or contact the Human Resources Office at 504-864-7757. 

Current information about the various benefit plans is contained in the Benefits Guide distributed during open enrollment, online or in hard copy in the Human Resources Department.  For more detailed information about specific provisions of the benefits plans as well as ERISA information about the plans, please refer to the Summary Plan Descriptions for each plan which are available online or in hard copy in the Human Resources Department.