Page 24 - 2016 Open Enrollment Non-Union
P. 24
Beneits Enrollment
Supplemental AD&D
Premiums
Calculating Your Monthly Cost
The cost of this coverage for the employee is $0.020 per $1,000 per
month. The cost for the family plan is $0.035 per $1,000 per month.
If you would like to see for yourself how much your coverage will
cost each month, just follow these steps.
1. Pick the coverage you want—1, 2, 3, 4, 5, 6, 7, or 8 times your
salary
2. Multiply your annual salary by the number and round your answer
to the next higher $1,000
3. Divide your coverage by $1,000
4. Multiply that number by the rate for the coverage chosen, either
employee only or the family plan
Example: an employee earns $46,500 a year and wants a beneit
amount equal to three times his or her salary.
Step 1: 3 x $46,500 = $139,500 (round to the next higher $1,000
= $140,000)
Step 2: $140,000 ÷ 1,000 = 140
Step 3: 140 x $0.035 (the monthly rate for family plan coverage)
Answer: $4.90 per month
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Supplemental AD&D
Premiums
Calculating Your Monthly Cost
The cost of this coverage for the employee is $0.020 per $1,000 per
month. The cost for the family plan is $0.035 per $1,000 per month.
If you would like to see for yourself how much your coverage will
cost each month, just follow these steps.
1. Pick the coverage you want—1, 2, 3, 4, 5, 6, 7, or 8 times your
salary
2. Multiply your annual salary by the number and round your answer
to the next higher $1,000
3. Divide your coverage by $1,000
4. Multiply that number by the rate for the coverage chosen, either
employee only or the family plan
Example: an employee earns $46,500 a year and wants a beneit
amount equal to three times his or her salary.
Step 1: 3 x $46,500 = $139,500 (round to the next higher $1,000
= $140,000)
Step 2: $140,000 ÷ 1,000 = 140
Step 3: 140 x $0.035 (the monthly rate for family plan coverage)
Answer: $4.90 per month
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