
Medical insurance coverage helps you and your family access routine and preventative health care at a reasonable cost and protects against the catastrophic costs of major illness or injury.
The University’s medical insurance program is self-funded. This means that the University pays the total costs of medical claims made against its health-care plans. It does not transfer the claims costs or the risk of claims to a third party (insurer). However, the University has retained the services of Blue Cross Blue Shield of Minnesota (BCBSM) to provide third-party administrative services, such as access to a network of providers, reinsurance protection against catastrophic loss and processing claims.
By self-funding its health-care insurance program, the University effectively serves as its own insurance company, with one important distinction. Unlike some insurers, the University does not price the medical plan to make a profit. Employees who elect to participate in the University’s plans pay a portion of the cost through deductibles and coinsurance. The University pays the remainder of the claim costs.
Eligible employees' paychecks are generally reduced on a pre-tax basis by the amount of their health insurance contribution. This pre-tax plan is governed by Internal Revenue Service regulations and, as a result, there are certain limitations on an enrollee's ability to make changes to coverage levels during the year.
Annual Enrollment is held on a yearly basis during late fall at which time employees can change their medical plan and/or the level of coverage.
Below are a few highlights of each plan:
Brief Summary
Summary of Benefits and Coverage
Summary Plan Description
Brief Summary
Summary of Benefits and Coverage
Summary Plan Description
Brief Summary
Summary of Benefits and Coverage
Summary Plan Description
Before requesting a change to your current election during a plan year, contact a benefits team member to check your eligibility.
More information is available by clicking on the following links:
Medical insurance forms can be found in our Forms Library.