Employees opting to transfer their health savings account funds from HealthEquity to WEX must complete the WEX Transfer Request Form and submit it to HealthEquity.
Benefits Program
Michigan Tech provides insurance benefits pertaining to medical plans, dental and vision plans, flexible spending accounts, life, disability, and accidental death and dismemberment. New employees select their choices during New Employee Orientation. The benefit plan year is January 1 through December 31. Each November there is an open enrollment period which allows current employees to make changes to their coverage.
Husky Flexible Benefit Plan
Michigan Tech provides benefit eligible employees with the option to enroll in a subsidized medical plan and a Non-Medical subsidy to use to elect additional benefit options.
- All benefit eligible employees will receive the Non-Medical subsidy of $105 per month to elect voluntary benefit options or receive as taxable income.
- Michigan Tech provides benefit eligible employees with the following Subsidized Benefits.
The subsidized value for these benefits are deducted from the non-medical subsidy
provided to the employee:
- Short-term disability (70% pay replacement)
- Long-term disability (60% pay replacement)
- Basic Life Insurance of $50,000 and AD&D
What If Things Change During The Year?
You can't change your coverage during the plan year unless you have a qualified family status change. If you do have a status change, you must submit notification via Employee Navigator within 30 days of the event. Supporting documentation must be sent to Benefit Services. When adding a dependent, documentation will be required.
Qualified family status events include, but are not limited to:
- Marriage or divorce
- Birth or legal adoption of a child
- Legal guardianship
- Child turns age 26
- Death of your spouse or a dependent child
- Loss/gain of insurance coverage by your spouse's employer
Failure to notify the Benefits Office within 30 days of any family status change may result in the following:
- You will be held responsible for any claims paid for an ineligible dependent
- Premiums paid for an ineligible depended will not be refunded
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