Employee-Paid Life Insurance Premium Reduction
We have good news for MSU active employees and retirees who are currently enrolled in the Optional Employee-Paid Life Insurance Plan. Due to a lower than expected number of claims processed, we are pleased to announce a premium reduction from July 1, 2011 through June 30, 2012.
Beginning in July you will see reduced Employee-Paid Life Insurance premiums taken out of your paychecks. (Please note Academic Year (AY) employees begin having life insurance premiums taken out of their paychecks in September.) No further action is required by you to continue your Optional Employee-Paid Life coverage as long as you continue to meet the eligibility requirements. The premium reduction for your Optional Employee-Paid Life Insurance will not affect your coverage in any way. Premium rates will return to the previous amounts plus any yearly adjustments in the 2012-2013 plan year.
Click here for the updated 2011-12 rates and click here for Frequently Asked Questions about life insurance and the premium reduction.
If you have additional questions about the premium reduction or your benefits, please contact Human Resources Benefits at benefitsinfo@hr.msu.edu, 517-353-4434 or toll-free at 800-353-4434.
