Benefits Summary

For an in-depth review of the benefits available to our employees, please review the 2023 New Hire Benefits Guide.

Insurance Enrollment Periods
All insurance plans offer an open enrollment during the first 30 days of employment and then annually from that point forward. You can make changes to your plan only during enrollment periods or if you have a “qualifying event” throughout the year.

High Level Insurance Offerings

Health Insurance (Maestro)
The College offers three health plans that vary in premiums, deductibles and coverages.

Per federal law, the in-network and out-of-network benefit costs under Illinois College benefit plans can be found here.

Vision Insurance (Guardian)
The College pays for vision insurance for all full-time employees. The employee can choose to add coverage for their dependents at their expense.

Dental Insurance (Guardian)
The College offers group dental insurance at the employee’s expense. There are two plans to choose from, high and low. The coinsurance and premiums are the only differences in plans.

Life Insurance (The Hartford)
Illinois College offers life insurance to all full-time employees. The College pays for insurance coverage for a total of 1x an employee’s annual salary at no cost to the employee. With the College life insurance, employees are also eligible for Accidental Death and Dismemberment (AD&D) which is equal to an additional 1x an employee’s annual salary. Minimal dependent coverage is also offered at no cost to the employee. 

Employees can purchase additional coverage up to the lesser of five times the employee’s annual salary or $500,000, with a guaranteed issue of the lesser of three times annual salary or $250,000. Additionally, the employee can purchase term life insurance coverage for their spouse or domestic partner and dependents.

Long-Term Disability Insurance (The Hartford)
Illinois College offers long-term disability insurance to all full-time employees through The Hartford. The College pays 50% of the premium and the employee is responsible for the remaining 50%. The disability insurance benefit pays 60% of your income after the 90-day elimination period.

Other Insurance Options
The following additional options are available to full-time employees:

  • Critical Illness
  • Hospital Indemnity
  • Accident
  • Legal 
  • Medical Air Transportation

Flexible Spending Account
Illinois College full-time employees are eligible for the Flexible Spending Account (FSA). The FSA is a cafeteria plan that allows employees to set aside pre-tax dollars to pay for qualified medical and dependent care expenses.

  • Medical
  • Dependent Care

Annual maximums and rollovers are determined year to year by the IRS.

Health Savings Account 
Illinois College full-time employees participating in the Base medical insurance plan are eligible for the Health Savings Account (HSA) benefit to use for medical out-of-pocket expenses. Benefits are tax deferred, and an employee may make changes to their annual election anytime during the plan year.
The HSA is a cafeteria plan that allows employees to set aside pre-tax dollars to pay for qualified medical expenses. Annual maximums are determined year to year by the IRS.
Contributions are taken over a 12-month period (January – December). All remaining funds roll over from year to year, and HSA funds can be taken with you upon separation of employment with the College.

Retirement Plan
The College participates in the 403b retirement plan through TIAA-CREF. Participation in the retirement plan is mandatory for all eligible employees. Employees must contribute at least 5% of their gross pay per pay period and the College matches with 5%. Ineligible employees also have the option to participate in a supplemental retirement plan with no contribution from the College. All contributions are tax-deferred. 
New employees are eligible to participate after one year of service. If an employee has worked at an eligible employer for at least 1,000 hours, then he/she may be eligible to have the one-year waiting period waived.

Illinois College Tuition Remission and Exchange Programs
Full-time employees and their dependents qualify to participate in the College's tuition remission and tuition exchange programs. 

For further information and a complete breakdown of benefits, contact the Office of Human Resources