quote:

---

Originally posted by: ugh!
" I meant 50% of the current premium paid by state employees.  Our partners insurance plans are cheaper and better."

---

ugh!,

There are dozens of private insurance companies that sell policies even less than 50% of the current premium paid by state employees. I get such advertisements in the mail at least twice a month. Although the premiums are cheaper, the benefits are not competitive with those provided on the state plan. You appear to be knowledgable about the plan available to employees working for the outsourcers. How about giving us a point-by-point comparison of that plan with the state plan.

quote:

---

Originally posted by: ugh!
"ok, i'll put it together.  give me a day or so - i got a few things going on also.  "

---

quote:

---

Originally posted by: Just pennies per week
"I'll be waiting! And I'm sure others will too!"

---

Just pennies,

Please excuse the sloppiness of this data; i'm in a hurry to respond but need to do so quickly.

Barnes & Noble:

Health Care - provider United HealthCare (check out the network coverage on their website - it's like 5000 doctors with 100 miles or something like that).  The premium is paid for the employee (same as university) and the premiums for children/family are the same.  The deductibles are as follows - within network $200/person, $400/family, then 90% of negotiated fee, with the remainder liability capped at $1000; outside network $300/person, $600/family, 70% of reasonable and customary, with the remainder capped at $2000.  24-hour NurseLine, prescription drug - generic $10, brand $25.  Vision - routine exam $10, discounted eyewear/contacts (this is covered in premium).  Dental: in-network - 100% preventive, 80% basic, 50% major; non-network - 100% preventive, 70% basic, 50% major (cost $4/month, $9/month for family).  Life and AD&D:  company paid, one times annual salary up to $250,000, additional available at an average of $.09/$1,000 of coverage (so, $250,000 for $22.50/month).  Travel accident insurance: automatic, $50,000.  Short-term & Long-term disability: 60% of monthly earnings up to $10,000/month, as long as you're disabled up to age 65.  ALL programs include domestic partners. 

Section 8

a)      All Bookstore staff presently working for University of Southern Mississippi will be given first consideration for employment with Barnes & Noble at the Bookstore and will be hired for at least a nine (9) month fair trial period and will be given a minimum 5% raise effective July 1, 2004.

If "ugh" wins, does that mean we have to keep Shelby?

Ooooh, nooooooo.

sorry, that's not possible - the university personnel responsible audit these prices every semester.  If it's package (combined with a disk, study guide, etc and can't be sold back by the student) then the margin can go to 30% (section 3).

This is the contract, it's enforced, plain and simply.  You can get it the same way I did - it's public info. 

quote:

---

Originally posted by: sorry
"sorry, that's not possible - the university personnel responsible audit these prices every semester.  If it's package (combined with a disk, study guide, etc and can't be sold back by the student) then the margin can go to 30% (section 3). This is the contract, it's enforced, plain and simply.  You can get it the same way I did - it's public info. "

---

quote:

---

Originally posted by: ugh!
"Thank you for the consideration of the facts.  My only response to the above is that the seasonal employees (students) wouldn't qualify in the state system either - can't think of many cases where part-time help does.  For my business, when I instituted our group policy, we took a census.  The health of my employees wasn't considered for the data, just quanity.  The premium was set and applied to all - ages 18 to 80."

---

ugh!,

I read you loud and clear. Then why do you suppose that state retirees choose to remain in the state plan rather than take a private plan? (At least all state retirees I have talked to about this remained in the state plan). These are bright and frugal people and they do not make such important decisions frivously. Another dimension I would like to inject into this discussion, based on your above comment, is the extent the textbook facility employees are full-time and how many are part-time. Before I finished graduate school, I held a position that required 40 hours per week in order to qualify for benefits. The employer kept everybody working at my level just one hour shy of the hours required to qualify for benefits. Finally, I would like to ask why do you suppose PERS retains an insurance system that charges more but delivers less (assuming what you have said is correct, of course).

quote:

---

Originally posted by: Gone Coastal
"And, of course, B&N, Aramark and the other outside contractors working for USM offer 100% USM tuition waivers for employees and 50% for employee dependents, right? "

---

quote:

---

Originally posted by: Just pennies per week
" ugh!, I read you loud and clear. Then why do you suppose that state retirees choose to remain in the state plan rather than take a private plan? (At least all state retirees I have talked to about this remained in the state plan). These are bright and frugal people and they do not make such important decisions frivously. Another dimension I would like to inject into this discussion, based on your above comment, is the extent the textbook facility employees are full-time and how many are part-time. Before I finished graduate school, I held a position that required 40 hours per week in order to qualify for benefits. The employer kept everybody working at my level just one hour shy of the hours required to qualify for benefits. Finally, I would like to ask why do you suppose PERS retains an insurance system that charges more but delivers less (assuming what you have said is correct, of course).  "

---

good questions.  The first is easy, the state pays for our part.  to leave the system would me not only are you forgoing that benefit you are paying your own premium.  For instance, personal example - the state pays for my premium, right?  well, the family premium is $460 - that's with mine taken care of!  I only have one child!

I chose to remove my spouse and child.  I was able to get a blue cross/blue shield policy for my child at $68 month with the same deductible and coverages.  My wife went without.  We had another child.  One would think this expense - on the contrary - I saved money.  Had I paid the $392 monthly premium for 28 months I would have spent $10,976 plus I would have had to cover co-pays and the $2000 deductible for a total of $13,000+!

I was able to invest my money, did well, and because she had no insurance and I paid for my wife's bills in cash the hospital and doctor gave me a discount of 40%.  I paid a total of $9,100.

For the other question.  No full-time employee with either of our partners works less than 40 hours per week.  Their employment status is full-time and therefore they qualify for benefits - anyone in middle level or above management is salaried. 

Their employees are well taken care of.

quote:

---

Originally posted by: Penny wide and pound foolish
"AARP is a very large group with high buying power. If private health insurance is better than PERS provides it seems to me that retirees would go to AARP or some other large group. I believe that Prudential used to underwrite the AARP plan. I don't know who underwrites it now. It may be Central United but I'm not sure about that"

---

This is a great line of thought.  One thing that burns me up is the lack of choice.  Did you know that most staff members of the university DO NOT realize that 7.25% of their pay goes into PERS?  They think that it's some kind of 'free' benefit.

Simply put, people should have choices.  I would much rather manage my own money (and get my own, cheaper insurance).

honestly, off the top of my head I can't remember exactly.  It's something like 1-for-1 up to 4%, which is typical in the private sector.  I ran the numbers and an employee making $20K/year on average, contributing 7.25% would, after 25 years, have an approximate $250K assest given the return of the market.  This would be a lump-sum that could draw interest, be invested, used to borrow against, etc.  Whereas the state's program offers just 40% of your average salary of your 4 highest earning years after 20 years, and 2% additional percent every year after that.  So, this same employee would receive $10K/year - until they die.  Not bad if you retire at 45, take another job, and live until 80. 

Again, I'd rather handle my own money.  The other kicker is that most staff members don't realize that faculty and upper-level administrator have an additional retirement option.  This CHOICE would be nice for some to have . . . don't you think?  I for one don't believe in treating unequal persons equally in most situations except when dealing with issues of YOUR OWN MONEY.