Life Insurance

As a full-time faculty/staff member, you are covered for basic life insurance and accidental death and dismemberment (AD&D) insurance. In addition, the University also offers you the option of purchasing supplemental life and dependent life insurance.

Coverage for full time faculty/staff is effective immediately on the first day of the month following the first day of work, unless otherwise noted.

Basic Life

The amount of your Basic Life Insurance is the greater of $50,000 or 1x your salary up to a maximum amount of $250,000 This coverage is provided to you at no cost and paid to your designated beneficiary in the event of your death. The coverage is reduced by 50% for faculty /staff who are actively employed beyond age 70.

If your basic life insurance amount is greater than $50,000, the IRS will assess imputed income taxes according to a sliding scale based on your age and income. You have the option to elect a flat amount of $50,000 of basic life insurance coverage if you wish to avoid the tax on imputed income.

Supplemental Life Insurance

If you decide you need more life insurance protection, you can purchase additional life insurance at group rates through payroll deduction. Supplemental life insurance can be purchased in multiples of salary up to the lesser of 7x salary or $1,000,000. For new hires, evidence of insurability (EOI) is required on any amount above the lesser of 3x salary or $250,000. If you do not purchase supplemental life insurance as a new hire, EOI will be required for any amount elected in the future. Employees previously enrolled in supplemental life may increase their coverage during the annual Open Enrollment period by one level up to the lesser of 3 x salary or $250,000 without providing EOI. Any increase in supplemental life insurance over this amount will require EOI.  Benefits are paid to your designated beneficiary (the same beneficiary as noted under your Basic Life/AD&D coverage) in the event of your death. There is no AD&D coverage for Supplemental Life.  Supplemental life insurance is reduced by 50% for faculty /staff who are actively employed at age 70.

Please Note: According to life insurance contract, employees age 70 or older cannot purchase additional supplemental life insurance coverage.

Dependent Life Insurance - Effective 6/1/2013

You can purchase dependent life insurance for your spouse and/or your dependent child(ren) independent of each other.

        Spousal - $25,000 OR  Spousal - $50,000
        Children - $10,000

Dependent children are covered until age 19, or age 25 if in full time student status. If you do not elect spousal life insurance as a new hire, evidence of insurability (EOI) will be required for your spouse if added at open enrollment. Benefits are paid to you should your spouse and/or child die. There is no AD&D coverage for this part of the plan. This coverage requires a monthly premium paid through payroll deductions.

NOTE: If both husband and wife are employed by the University and eligible for benefits, dependent life coverage is not available for the spouse and only one benefit amount is payable for each child.

You may designate your beneficiary for Basic, AD&D and Supplemental Life coverage by using the Employee Benefits On-Line Enrollment System.

*Please note: Dependent life benefit amount for newborn children up to the age of 6 months is $500. After 6 months, the benefit is increased to $10,000.

WHAT IF YOU ARE ABSENT FROM WORK ON THE DATE YOUR COVERAGE WOULD NORMALLY BEGIN?

If you are absent from work due to injury, sickness, temporary layoff or leave of absence, your coverage will begin on the date you return to active employment.

Benefit Resources

AHA gold seal 2014

Benefits Enrollment System for new hire benefits enrollments and life events changes for current employees.

Notice of Privacy Practices

Pathways brochure provides a summary of the Villanova University Benefits Program.

Villanova Medical Plan Cost Estimator: this tool may help you determine which plan may be the most cost effective given your family’s current health situation. This tool is also available for your iPhone at www.villanovampce.com.

New Health Insurance Marketplace Coverage Options and Your Health Coverage Notice: This notice includes information on how to access the new health insurance marketplace which will be available on October 1, 2013.

Summary of Benefits and Coverage- Premium PPO

Summary of Benefits and Coverage- Value PPO

Summary of Benefits and Coverage- Keystone HMO (in area)

Summary of Benefits and Coverage- Amerihealth HMO (out-of-area)

Employee contribution rates for medical and dental insurance plans.

Employee premium rates for purchase of supplemental life insurance.

Individual Health Care Buyers Guide

Physician Affidavit for Health Screenings