Page 29 - Acadia 2024 Benefits Guide | Erlanger
P. 29
2024 Employee Supplemental Life
and Disability Rates
Supplemental Life and AD&D Coverage Short and Long Term Disability Coverage
SUPPLEMENTAL LIFE AND AD&D SEMI-MONTHLY RATE
AGE BAND AGE BAND
RATE PER $1,000 (24 PAY PERIODS) (24 PAY PERIODS) PREMIUM FACTORS
Less than 25 $0.041 STD LTD
25-29 $0.047 Less than 25 $0.01512 $0.00047
30-34 $0.057 25-29 $0.01539 $0.00074
35-39 $0.067 30-34 $0.01311 $0.00134
40-44 $0.077 35-39 $0.01254 $0.00215
45-49 $0.117 40-44 $0.01170 $0.00369
50-54 $0.182 45-49 $0.01284 $0.00483
55-59 $0.297 50-54 $0.01482 $0.00682
60-64 $0.432 55-59 $0.01911 $0.00879
65-69* $0.587 60-64 $0.02253 $0.00678
70+* $0.942 65-69 $0.02595 $0.00457
Child Rate Flat Rate $0.310 70-99 $0.02595 $0.00333
* Beneits and premium amounts relect age reductions. Spouse
rate based on spouse’s age; coverage terminates at age 70. Calculating your STD Premium Per Pay
Period
Calculating Supplemental Life Premium Example: $610 x $0.01254 (age 35) = $7.65 semi-monthly
Per Pay Period
Example: $50,000/$1,000 x $0.067 (age 38) = $3.35 semi-monthly Enter your weekly earnings:
(Maximum covered payroll - $1,667 weekly)
Enter amount desired:
Multiply by premium factor above:
Divide by $1,000:
Semi-monthly premium:
Multiply by age band rate from table:
Semi-monthly premium: Calculating your LTD Premium Per
Pay Period
Note: Amount cannot exceed guaranteed issue or max allowed
Example: $2,643 x $0.00215 (age 35) = $5.68 semi-monthly
Employee Voluntary Life—beneits begin reducing at age 70
Enter your monthly earnings:
Spouse Voluntary Life—beneits begin reducing at age 65 and (Maximum covered payroll - $8,333 monthly)
terminates at age 70
Reference the MetLife EOC on the My Company page in UKG for Multiply by premium factor above:
more detailed information.
Semi-monthly premium:
This is an estimate. Actual deductions may vary slightly due to
rounding.
2024 Employee Beneits Guide | 29
and Disability Rates
Supplemental Life and AD&D Coverage Short and Long Term Disability Coverage
SUPPLEMENTAL LIFE AND AD&D SEMI-MONTHLY RATE
AGE BAND AGE BAND
RATE PER $1,000 (24 PAY PERIODS) (24 PAY PERIODS) PREMIUM FACTORS
Less than 25 $0.041 STD LTD
25-29 $0.047 Less than 25 $0.01512 $0.00047
30-34 $0.057 25-29 $0.01539 $0.00074
35-39 $0.067 30-34 $0.01311 $0.00134
40-44 $0.077 35-39 $0.01254 $0.00215
45-49 $0.117 40-44 $0.01170 $0.00369
50-54 $0.182 45-49 $0.01284 $0.00483
55-59 $0.297 50-54 $0.01482 $0.00682
60-64 $0.432 55-59 $0.01911 $0.00879
65-69* $0.587 60-64 $0.02253 $0.00678
70+* $0.942 65-69 $0.02595 $0.00457
Child Rate Flat Rate $0.310 70-99 $0.02595 $0.00333
* Beneits and premium amounts relect age reductions. Spouse
rate based on spouse’s age; coverage terminates at age 70. Calculating your STD Premium Per Pay
Period
Calculating Supplemental Life Premium Example: $610 x $0.01254 (age 35) = $7.65 semi-monthly
Per Pay Period
Example: $50,000/$1,000 x $0.067 (age 38) = $3.35 semi-monthly Enter your weekly earnings:
(Maximum covered payroll - $1,667 weekly)
Enter amount desired:
Multiply by premium factor above:
Divide by $1,000:
Semi-monthly premium:
Multiply by age band rate from table:
Semi-monthly premium: Calculating your LTD Premium Per
Pay Period
Note: Amount cannot exceed guaranteed issue or max allowed
Example: $2,643 x $0.00215 (age 35) = $5.68 semi-monthly
Employee Voluntary Life—beneits begin reducing at age 70
Enter your monthly earnings:
Spouse Voluntary Life—beneits begin reducing at age 65 and (Maximum covered payroll - $8,333 monthly)
terminates at age 70
Reference the MetLife EOC on the My Company page in UKG for Multiply by premium factor above:
more detailed information.
Semi-monthly premium:
This is an estimate. Actual deductions may vary slightly due to
rounding.
2024 Employee Beneits Guide | 29
