Business Affairs Bulletin
Important Reminders
UNIVERSITY HEALTH PLAN UPDATES
Good News about Fiscal Year 2009 Health Plans
At this time, the UT System plans no changes in health plan premiums, premium sharing, or health plan design for the year starting September 1, 2008.
Annual Enrollment is Coming. Are You Making an Insurance Change that Will Require an EOI?
Some insurance changes require that you provide proof of good health or Evidence of Insurability (EOI). The EOI process begins July 1 and continues through July 31. As you review your insurance needs, consider the requirements below.
What is EOI?
Evidence of Insurability (EOI) is the medical documentation required by a carrier to determine if the participant's health condition meets the carrier's criteria to be approved for enrollment, or for increasing the amount of coverage or adding dependents for coverage. Approval by the carrier is NOT guaranteed.
When is EOI required?
EOI is required when you (employee or retiree):
1. Enroll in or add dependents to UT Select. EOI is not required when you and/or your dependent enroll in UT Select during Annual Enrollment AND are currently enrolled in another group health plan.
2. Enroll in or increase your Voluntary Term-Life coverage.
3. Elect dependent group life coverage.
4. Enroll in short-term or long-term disability income coverage (not available to retirees).
5. Elect Long Term Care coverage.
HAVE YOU USED YOUR FLOATING HOLIDAY?
This fiscal year (FY 2008), one floating holiday is included in the UT Dallas holiday schedule. That’s 8 hours for eligible full-time employees which can be taken at any time during the fiscal year with the prior approval of your supervisor. We encourage you to use this holiday before the end of the fiscal year on August 31, 2008. Why? It will be good for you to relax and get away.
Researchers from the State University of New York at Oswego conducted a survey of more than 12,000 men ages 35 to 57 who had participated in a large heart disease prevention trial. The results, presented in March, 2000, at a meeting of the American Psychosomatic Society in Savannah, suggest that men who take vacations every year reduce their overall risk of death by about 20 percent, and their risk of death from heart disease by as much as 30 percent.
To their surprise, the researchers discovered that some of the men surveyed didn't take any vacation time over the five years surveyed. But instead of being rewarded for their dedication to the job, they suffered the highest overall death rate and highest incidence of heart disease of any of the participants.
"We concluded that skipping vacations could actually be dangerous to your health," said Brooks Gump, Ph.D., an assistant professor of psychology at Oswego and one of the study's co-authors. "Vacations have a protective effect because they help you reduce your load of stress, or at least allow you to take a break from the everyday stressors of the workplace."
So do something good for yourself and schedule a day off. Be sure to tell your supervisor and your department Administrative Assistant that you would like to take your floating holiday, so they can keep accurate leave records. For more information about holidays, read the Holiday Policy on line, or contact Human Resources Management.
FY 2009 EMPLOYEE HOLIDAY SCHEDULE
Holiday |
Date September 1, 2008 November 27, 2008 November 28, 2008 December 22, 2008 December 23, 2008 December 24, 2008 December 25, 2008 December 26, 2008 December 29, 2008 December 30, 2008 December 31, 2008 January 1, 2009 January 2, 2009 January 19, 2009 May 25, 2009 |
Day of Week Monday Thursday Friday Monday Tuesday Wednesday Thursday Friday Monday Tuesday Wednesday Thursday Friday Monday Monday |
Audit Tip: Do you know what the number one audit recommendation for 2007 was?
Account Reconciliations! Here’s how you can make sure this one does not end up on your next audit report!
Reconcile your departmental accounts in a timely manner. WHY? Because the opportunity for errors or fraud occurring and not being detected is increased when accounts are not reconciled, especially in a timely manner! UT Dallas guidelines require reconciling your departmental accounts in a timely manner, generally within two months after receiving your reports.
Attention Reconcilers and Reviewers: Don’t forget to sign and date the reconciliation and make sure you attach and review the back-up documentation. If the person who normally reconciles or reviews is out for an extended period or the position is vacant, the reconciliation and review still needs to be performed! If you need help with account reconciliations, please contact the Office of Finance at extension 2682 or Internal Audit at 2693.
Compliance Reminder: We appreciate your patience as we transition Compliance Training to WebCT. Annual Compliance Training for all benefits-eligible staff and faculty members is due April 30! Additional information on Compliance Training can be obtained at www.utdallas.edu/audit-compliance/training.htm .
Please feel free to contact the Compliance Office at 2233 or by email at compliance@utdallas.edu if you have any questions or concerns.
Copyright 2007
