| Health Insurance
Premium Subsidy
An additional College-provided subsidy is available
to help offset the employee's health insurance premium share
for Mount Holyoke College employees who meet all of the following
criteria:
- Participate in a Mount Holyoke group health insurance
plan.
- Have a family income of less than $40,000 for employees
carrying a family health insurance plan.
- Have a family income of less than $20,000 for employees
carrying a single health insurance plan.
Please note the following conditions:
- Family income is the "Adjusted Gross Income" as listed
on the IRS tax form.
- Income must be verified by a copy of a signed federal
income tax return (form 1040 EZ or 1040 or 1040A).
- The plan year for the subsidy runs from July 1 to June
30.
- The subsidy is not based on financial obligations or family
size.
- The subsidy is based on current Mount Holyoke College
annual salary or prior year family income, whichever is
higher. Subsidy applications will be accepted during our
annual group health insurance open enrollment in May of
each year and becomes effective for July 1. For new employees,
subsidy applications must be submitted within 30 days of
the date of hire. The subsidy will be pro-rated on the balance
of the fiscal year.
- For domestic partners, the subsidy is based on both incomes
and is verified by signed federal income tax returns. The subsidy
will be treated as taxable income as required by IRS regulations.
- Applications must be submitted each year to re-qualify
for subsidy.
This subsidy program is funded in full by Mount Holyoke College,
and the College reserves the right to amend, modify or terminate
the program at any time. Please see Appendix
2 for an application.
|
Health
Insurance Premium Subsidy
|
|
|
Full Monthly Premium Shared
|
| |
Annual Income |
Employee
% |
College
% |
| Single |
Less than or equal to $15,000 |
15% |
85% |
| |
Greater than $15,000 and less than $20,000 |
20% |
80% |
| |
Greater than or equal to $20,000 |
25% |
75% |
| Family |
Less than or equal to $30,000 |
15% |
85% |
|
Greater than $30,000 and less than $40,000 |
20% |
80% |
| |
Greater than or equal to $40,000 |
25% |
75% |
|
