Waiver of Insurance Coverage

If you have medical, vision and dental insurance provided from elsewhere, you may elect to waive Lawrence Tech's coverage.   In lieu of this coverage, you will be paid opt-out cash.  There are two plan options to opt-out of coverage as follows:  

Plan 1 = Medical opt-out

Plan 2 = Medical, dental and vision opt-out

If you choose Plan 1, you opt out of medical insurance coverage only, however you may enroll in the dental and/or vision plans.  If you choose Plan 2, you opt out of medical, dental and vision coverage.  Both plan options are taxable benefits and subject to FICA, Federal, state and city taxes.  The amount deducted for taxes depends on individual circumstances.  Calculations will not be provided prior to actual payment.

Employees who terminate employment during the year will forteit any remaining waiver fee.

To enroll in either plan:

• Complete the Waiver of Insurance Coverage Form.
• Show proof of other insurance by providing a copy of an insurance I.D. card.  Note: Canadian citizens covered by OHIP are also required to show proof of insurance.
• Submit both documents to the Office of Human Resources.

Special Enrollment Period

If during the plan year you lose your other medical, dental, or vision insurance and you want to establish coverage through Lawrence Tech, a special enrollment period may allow you to enroll yourself and/or your dependents in the plan.  However, you must request enrollment within 30 days after your other coverage ends or after the employer stops contributing towards the other coverage.  You must complete the appropriate benefit forms and return them to the Office of Human Resources within 30 days of loss of coverage.  You will be required to provide proof of loss of coverage.

Questions? Email benefits@ltu.edu

Limitations
Lawrence Tech in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents. Although the university has elected to provide these benefits this year, no individual has a vested right to any of the benefits provided. Nothing in these materials gives any individual the right to continued benefits beyond the time the university modifies, amends, or terminates the benefit. Anyone seeking or accepting any of the benefits provided will be deemed to have accepted the terms of the benefits programs and the university's right to modify, amend or terminate them.

Every effort has been made to ensure the accuracy of the benefits information in this site. However, if any provision on the benefits plans is unclear or ambiguous, the Office of Human Resources reserves the right to interpret the plan and resolve the problem. If any inconsistency exists between this site and the written plans or contracts, the actual provisions of each benefit plan will govern. Lawrence Tech in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents.