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COST OF COVERAGE

Worried about the cost of coverage? Think of it as investing in peace of mind! Check out the break down of each employee benefit and what will cost each month.

Medical

Your contributions for medical, dental, and vision insurance are withheld on a pre-tax basis. Premium deductions are taken from your monthly paycheck. Below are the costs you pay for each of the benefits.

Medical Monthly Rates
Based on Annual Salary		 Single Employee + Spouse Employee + Child(ren) Family
Up to $34,999 $91.85 $440.61 $191.91 $558.15
$35,000-$54,999 $119.94 $468.25 $205.10 $625.55
$55,000 $142.41 $496.34 $217.80 $692.97

Dental

  Single Family
Monthly Cost $6.00 $50.00

Vision

  Single Employee + Spouse Employee + Child(ren) Family
Monthly Cost $7.88 $15.64 $14.13 $21.88

Supplemental Life

Age $1,000 $10,000 $20,000 $40,000 $50,000 $100,000
Under 30 $0.07 $0.73 $1.46 $2.92 $3.65 $7.30
30-34 $0.09 $0.87 $1.74 $3.48 $4.35 $8.70
35-39 $0.10 $0.97 $1.94 $3.88 $4.85 $9.70
40-44 $0.11 $1.11 $2.22 $4.44 $5.55 $11.10
45-49 $0.16 $1.58 $3.16 $6.32 $7.90 $15.80
50-54 $0.23 $2.33 $4.66 $9.32 $11.65 $23.30
55-59 $0.42 $4.21 $8.42 $16.84 $21.05 $42.10
60-64 $0.64 $6.38 $12.76 $25.52 $31.90 $63.80
65-69 $1.21 $12.11 $24.22 $48.44 $60.55 $121.10
70+ $1.95 $19.54 $39.08 $78.16 $97.70 $195.40

Disability

Long-Term Disability

Your core Long-Term Disability policy is paid for by Hiram College. If you choose to purchase buy-up coverage, your premium will depend on your benefit amount.

The formula below will calculate your estimated buy-up LTD premium payment.

Monthly Earnings x .15 / 100 Estimated Month

Short-Term Disability

Short-Term Disability premiums are split between Hiram College and the employee 50/50. Premiums are deducted from your paycheck and are dependent on your age and weekly earnings.

The formula below will calculate your estimated STD premium payment.

Weekly Earnings x 0.60 x Enter rate from table below / 10 = Estimated total premium / 2 = Estimated monthly employee cost.

Short Term Disability (per $10 Covered Weekly Benefit)

Employee Age Rate
Less than 30 $0.754
30-34 $0.850
35-39 $0.494
40-44 $0.323
45-49 $0.340
50-54 $0.369
55-59 $0.483
60-+ $0.606

Accident

Your contributions for accident and critical illness coverage are withheld on a post-tax basis. Premium deductions are taken from your monthly paycheck. Below are the costs you pay for each of the benefits.

  Single Employee + Spouse Employee + Child(ren) Family
Monthly Cost $14.55 $24.32 $25.58 $35.35

Critical Illness

Employee

Cost includes Child Coverage when Elected

Benefit <30 30-39 40-49 50-59 60-69 70+
$10,000 $5.40 $8.80 $16.50 $31.20 $52.00 $81.50
$20,000 $10.80 $17.60 $33.00 $62.40 $104.00 $163.00
$30,000 $16.20 $26.40 $49.50 $93.60 $156.00 $244.50
Spouse
Benefit <30 30-39 40-49 50-59 60-69 70+
$5,000 $2.70 $4.40 $8.25 $15.60 $26.00 $40.75
$10,000 $5.40 $8.80 $16.50 $31.20 $52.00 $81.50
$15,000 $8.10 $13.20 $24.75 $46.80 $78.00 $122.25

Legal Shield

  Full Membership Legal Shield + Family ID Shield
Monthly Cost $21.95 $41.90

ID Shield

  Single Family
Monthly Cost $12.95 $22.95