For employees eligible for the UK health credit for the year 2020-21
We're shielding you from monthly increases to your health insurance premiums in the year ahead, July 1, 2020 to June 30, 3021. While the overall cost of health insurance continues to rise, the University will cover the full increase.
During this time of financial uncertainty for many families, keeping health insurance costs down is a way we can help.
What are we saving you this year?An example: HMO for an employee
The total monthly cost of the HMO plan for employee only increased by $29 from $546 to $575.
Usually, you and the University would both cover a portion of that increase. This year, we’re covering the full cost of the increase so you’ll continue paying $33 a month for your health insurance.
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The costs we’ve already saved you
$33 per month for health insurance is our lowest rate this year — and it’s low.
That’s because — not just this year, but for the last decade — we have covered a substantial portion of health insurance costs for our employees.
The employer-sponsored health insurance we provide, like many other employers, pays a substantial portion of the total monthly cost. We pay not only the majority of the total cost, but, we pay nearly the entire cost in some cases. To use the same HMO example, we’re paying 94% of the total cost of your health insurance this year while you’re paying 6% .
How much the University pays towards your health insurance depends on which plan you choose and how many people are on your insurance.
By not raising the cost for employees this year, we’re continuing our decade-strong commitment to putting your health and financial well-being first.