Insurance Benefits

Furman University is pleased to offer you a comprehensive benefits program. The goal of our benefits program is to provide benefit options that allow you to choose the coverage that best meets your needs and the needs of your family.

Benefit Communication Links and Forms

The Insurance Benefits Guide provides information about each benefit including not only medical, dental, and vision, but also life, AD&D, disability and cancer insurance.

 

 

Medical Insurance

You have the option of choosing between three different plans provided through Blue Cross Blue Shield.  In addition, you have access to Telemedicine as a benefit of being enrolled in one of the medical plans.  Furman and the employee share the cost of these plans.

Dental Insurance

There are two dental insurance options provided through MetLife. Both options cover preventative care as well as basic and major dental treatment. One option also includes orthodontia for dependent children. Dental insurance is funded by the employee.

Vision Care Insurance

Vision insurance is also provided by MetLife.  You will get great savings on your eye exam and eyewear, and discounts on laser vision correction.  Vision insurance is funded by the employee.

Flexible Spending Accounts

Furman employees have the option of participating in a Flexible Spending Account for Medical and/or Dependent Care Expense Reimbursement. Payroll deductions for the FSA plans are subtracted from your gross income before taxes are calculated; therefore, reducing the tax amount on your paycheck. Enrollment in these plans takes place once a year (during November open enrollment) so employees can define their payroll deductions for the next calendar year.

Health Savings Account (only available with HDHP Medical Plan)

Furman employees enrolled in the HDHP medical plan have the option to contribute to their Health Savings Account to help pay for medical, dental, and vision costs with pre-tax earnings. Payroll deductions for the HSA plan are subtracted from your gross income before taxes are calculated; therefore, reducing the tax amount on your paycheck. Enrollment in these plans takes place once a year (during November) so employees can define their payroll deductions for the next calendar year.

As a part of enrolling in the HDHP medical coverage, Furman automatically contributes money (amount based on the coverage tier) to an employee’s HSA.

Basic Term Life/AD&D Insurance

Term life insurance equal to one and one-half times annual earnings rounded to the nearest $1,000 is provided for all benefit-eligible employees (maximum $400,000; minimum $5,000) through Unum. This term life includes Accidental Death & Dismemberment insurance coverage. AD&D insurance provides coverage in the event of an accident resulting in dismemberment or death. Dependent life insurance of $10,000 is available for the spouse of an employee and up to $10,000 for each dependent child, depending on the child’s age. Furman pays the premiums for the employee life policy. Furman and the employee share the cost of any dependent life coverage.

Additional Term Life Insurance

Optional term life insurance is available through Unum. The premium is based on the amount of coverage selected and the age of the insured. Term Life Insurance is funded by the employee.

Disability - Long Term

The long-term disability benefit program is required for all benefit eligible employees. The monthly income benefit, including any income benefits payable from Social Security for the employee or dependents, Worker’s Compensation, and any disability benefits payable under any insurance or retirement plan sponsored by the University, is equal to 60 percent of the covered monthly salary as of the date the disability began (maximum $12,000 monthly). Monthly benefit payments begin after 90 calendar days of continuous total disability. Premiums are paid by the employee.

Disability - Short Term

Short-term disability insurance is available to full-time staff. The plan will help provide financial security in the event of disability caused by injury, sickness, or pregnancy. The plan will provide coverage after seven consecutive days of approved absences with a doctor’s certification and will provide weekly payments for up to 13 weeks of disability. The plan provides a weekly income benefit equal to 60% of your base salary, up to a maximum weekly benefit of $1,000. Premiums are paid by the employee.