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November 6, 2012

Online calculator shows how employee's medical premium affected by 2013 choice

Faculty and staff can use an online tool to see how much their medical premium will increase or decrease for 2013, based on the plan they have in 2012 and the option they choose for 2013.

The employee will select his or her salary tier from a drop-down box, and then choose a 2012/2013 medical plan combination. The calculator will show the premium difference between the two plans in both a dollar amount and a percentage. The calculator is at https://www2.itap.purdue.edu/bs/HRCalculators/BenefitsPlan2013/index.cfm.

Using the calculator, the employee will be able to gather helpful information, such as that in the following example of an employee earning under $44,000 who has had family coverage with the Copay Plan for 2012:

* The employee has paid $2,113 for family coverage under the Copay Plan in 2012.

* Family coverage under the Copay Plan will cost this employee $2,746 in 2013 ($633 more than in 2012).

* Family coverage under the Incentive Plan for 2013 will cost this employee $1,311 ($802 less than the employee paid for the 2012 Copay Plan). By switching plans, the employee can actually pay a lower medical premium in 2013 than the employee has been paying in 2012.

Though premium is not the only factor to consider when choosing a medical plan, it is an important one, according to Human Resources. "The calculator gives faculty and staff an easy way to see how their premium would be affected based on the plan they choose," says Susan M. Davis, benefit programs consultant in Human Resources.

Open enrollment for 2013 benefits ends at midnight on Nov. 16.

* To enroll and certify tobacco-user status, go to www.ebenefits.com/purdue.

* Visit the open enrollment Web page for resources and information: www.purdue.edu/hr/Benefits/enroll.html.

* Contact 49-42222, hr@purdue.edu, or your regional campus HR Office for open enrollment assistance.