MIT Benefits

Health
	Choose from 8 plans --- not mandatory
	You can only change plans during Numberber (Open enrollment)
		(Changes effective Jan 1)
	Due to IRS rules you can only change your level of coverage
		(none/individual/family) during the open enrollment
		period or if your family or employment status changes.

	Plans ---- BCBS
		BCBS Opt. 1
			100 % hosiptal, surgincal, diagnostic lab tests
			80% / $100 deductible  diagnostic office visits, 
				prescriptions
		BCBS Opt. 2
			$350 deductible / 80%  / $1k/2k out-of-pocket limit
		Mental health care for BCBS -- $30/visit for individual, 
			family or couple therapy.  $15/visit for group therapy
			annual limit $1,500/$3,000

	Plans ---- HMO's
		Variable providers / 100% hospital charges / Office charges
		$3/visit, none for MIT Traditional / Drugs $1-9 dollars.
		Usually $3-6

		Providers:
	 		Traditional MIT Health Plan
			Harvard Community Health plan
			Tufts Associated Health Plan
			Bay State Health Care
			Central Massachusetts Health Care

	Flexible MIT Health Plan
		Care authorized by MIT Health Dept: coverage same as
		traditional MIT Health plan.  Care not authorized is 
		covered by BC/BS opt. 2.

	Costs (individual)
		BC/BS Opt.1  289.71
		BC/BS Opt.2   20.00
		Flexible 37.51
		Traditional 24.51
		Harvard Community 28.27
		Tufts Associated 28.51
		Bay State  38.51
		Central Massachusetts Health Care 39.61

	MIT Medical Department
		No charge for a 15 minute visit with internist
		Lab tests or referals to specialist *will* cost money or 
			must be picked up by a health plan.
 
Dental --- Delta Dental Plan  (Most detentists in Mass. participate)
	No deductable for preventive services --- cleanings, x-rays,
		periodic exams
	$50 deductable / $1,000 limit
	Basic restoration --- fillings, root and gum treatmeants, oral
		surgury --- 65% after deductable
	Major restoration -- crowns, dectures, bridges --- 25% after 
		deductible
	Costs: Individual: 2.44/month  Family: 15.93/month

After you leave MIT --- you can continue coverage for 18 months; but you
	have to pay the full price (The above rates are subsidized by MIT)

FRAP  --- flexible reimbursement plan
	Tax-sheltered spending accounts.  
	You decide how much --- contribution deducted before taxes
	You can use money to pay out-of-pocket medical,dental, vision
	$3,000/year maximum contribution 
	forfeit unused balance if you don't use it all by Dec. 31
	For individual plan, payment is up front

Disability Benefits
	Sick leave --- full pay for up to 6 months
	Long-term disbility
		automatic, paid by mit / for illness -- covered after 2 years
		for injury after you begin working at MIT -- covered 
		immediately
		60% of first $1,000 + 50% over $1,000 

Life insurance
	Basic coverage --- fully paid by MIT.  $50,000 basic term
	$100,000 Aciidental Death and Dismemberment.  Prorated for part-time
	[urchase 1-5 times annual base salary / rates by age
	Rates under 30: Cost/$1,000: 6 cents
	List beneficiary for basic coverage

Travel Insurance
	MIT pays full costs
	covered while traveling on MIT business.  $250,000 benefit
	Same beneficiary as life insurance by default

MIT Retirement Plan
	Basic
		1 year service or age 35  (but retroactive to any work
			done after June 1, 1989, after you are elegible)
		Greater of 1.65% accural
		Greater of 5% account
		Automatic
	Supplemental
		1 year service or age 35
		Pay 1-5%, MIT matches it
		Voluntary

TDA ---- tax deferred annuity
	Before fenderal income taxes; after state and FICA taxes
	limit is lessor of maximum exlusion allowance or $9500, including
		before tax contributions to MIT retirement plan 
	Must calculate maximum exclusion allowance each year
	Only one dollar change per calendar year
	Stop anytime
	Carriers
		TIAA/CREF
			Fixed
			Variable
			Money Market
			(bond?)
		Prudential --- more administrative fees, more interest
			Fixed fund
			Variable

	Withdrawl provisions: before 59.5 years, you can only withdraw
		if you are suffereing hardship or when you leave mit.
		Then you pay federal taxes plus 10%.

		(All sorts of complicated rules about retirement/death)

		After 59.5, no penalty for withdrawl

Education Assistance
	Tuition Assistance plan
		apply before course begins
		first course prepayment
			* available after four full months
		eleigible immediately: job-related, first degree, 
			career management
		after 6 full months: career-related
		$3500 for non-MIT course
		100% cost of one MIT ourse/semester
		benefit may be taxable
		pro-rated for part-time
	Childern's Scholarship plan --- tuitions for children
	Educational Loan Plan
		$5,500/year for 1 child, $8500/year for two or more children

Other services
	Direct deposit
	Credit Union
	Safety Office
	Atheltic Facilities --- purchase athletic sticker
	Child Care
	Visitor's Center
	MITAC
	libraries