An Income Continuation Insurance (ICI) Deferred Enrollment opportunity is currently available through March 1, 2024, for eligible University Staff employees. This insurance provides replacement income if you are unable to work due to a short or long-term disability.
Additionally, all employees currently enrolled in ICI will have a premium update on the February 8, 2024, paycheck, and the Standard and Supplemental coverage levels will be consolidated into a single coverage level effective February 1, 2024.
Deferred Enrollment Sign-up Deadline Friday, March 1, 2024
University Staff employees who are eligible for the ICI Deferred Enrollment Period are notified of their enrollment opportunity by email the week of January 29.
To enroll, submit an ICI application to your benefits contact by 4:30 p.m. on Friday, March 1, 2024. Coverage is effective April 1, 2024, and the first premium deduction will occur on the April 4, 2024, paycheck.
Generally, University Staff employees not currently enrolled in ICI are eligible for deferred enrollment if they meet one of the deferred enrollment provisions. This is the only time during the year they may enroll in ICI without providing proof of good health.
Review your personalized ICI employee web page to determine your enrollment opportunity and an estimate of your premium.
Premium and Coverage Update
Effective February 1, 2024, ICI premiums will be updated. The following factors will determine the new premium amounts:
- A decrease in premium rates. While premium rates are decreasing, your premium amount is determined by the rates and the factors listed below, which may cause your premium to increase.
- Your 2023 eligible earnings and sick leave balance (if applicable)
- For Faculty/Academic Staff/Limited Appointees: ICI premium* is based on your 2023 eligible earnings and the elimination period you elected.
- For University Staff: ICI premium* is based on your 2023 eligible earnings and unused sick leave balance as of December 31, 2023.
*If you were on an unpaid leave of absence during 2023, review your ICI employee web page for information on how your premium may be affected.
- The consolidation of Standard and Supplemental ICI into a single coverage level up to $120,000 in eligible earnings. Employees currently enrolled in ICI will be automatically covered up to $120,000 in eligible earnings per year. The Universities of Wisconsin will contribute a portion of the premium if you are eligible for the employer contribution.
Review the Income Continuation Insurance Coverage Changes portal article for more information about this change.
Premium changes for 2024 will be reflected on the February 8, 2024, paycheck. Visit your personalized ICI employee web page for your premium summary.
Source: Universities of Wisconsin Office of Human Resources