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Employees:
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NYU Medical Center recognizes that our employees' benefits needs extend far beyond the traditional health & welfare plans. To help our employees achieve a healthy balance between their work and family responsibilities, we recently enhanced our voluntary benefits as follows:
| PLEASE NOTE: The plan benefits listed below are not guaranteed to all employees. Employees must meet specific eligibility criteria before accessing certain benefits. Please contact Benefits Services if you are not certain about your eligibility for these plans. |
Long - Term Care Insurance Program
Under the MetLife Long Term Care Insurance (“LTCI”) Program, eligible employees and spouses or domestic partners have the opportunity to purchase “fully-portable” individual long term care insurance policies at discounted group premiums. Additional discounts may also apply if your spouse or domestic partner applies and is approved for coverage along with your approved coverage.
Private One-on-One LTCI Consultations
The Weiss Group (a MetLife affiliate) is responsible for handling all personal consultations and questions from eligible NYUMC employees regarding the MetLife LTCI program. Eligible employees interested in a private LTCI consultation will need to schedule an appointment by contacting The Weiss Group at (212) 922-9100, Monday through Friday between 7:30AM and 5:00PM.
Click on the links provided below to review the introductory letter and brochure on the MetLife Long Term Care Insurance Program:
Long Term Care Insurance Program Intro Letter
MetLife ‘Planning For Longevity’ Brochure
Corporate Counseling Associates, Inc (CCA), the administrators of our Work/Life Assistance Program provides eligible employees with an enhanced benefit offering where reputable consultants can be contacted to assist employees with the complexities associated with managing work and life responsibilities.
This valuable benefit is provided through your Employer at their expense. You have "around the clock" access to CCA's Work/Life Consultants who are experts in their field to provide you with the best services available- whether you are looking for a childcare provider or a place to have dinner around the town, a CCA consultant will be there to help.
Click on the links below to review the letter and the Work/Life Assistance Program Brochure sent to the homes of eligible employees:
New Work/Life Assistance Program Intro Letter
New Work/Life Assistance Program Brochure
The Back-Up Child Care Program administered by Brighter Horizons is a voluntary employer sponsored benefit which allows parents to make alternate child care arrangements when their regular day care provider is not available. The benefit will provide back-up childcare services for children of eligible employees between the ages of 3 months and 13 years during normal business hours (8AM to 6PM) with early drop-off beginning at 6:30AM and late pick-up until 7PM. For more information regarding this benefit, please refer to the resources provided below:
We have partnered with Hyatt Legal Plans (a MetLife Company) to offer with legal assistance services to employees eligible for the BeneFlex and BasicCare programs and union employees with base hours of 17.5 week or greater. Enrollment is limited to the Annual Enrollment Period, for coverage effective the following calendar year (Jan 1). New Hires must enroll within 30 days of their hire date in order to participate for the rest of the current calendar year.
The new legal assistance benefit will offer employees:
- Access to legal counsel for personal legal matters via a Network of Attorneys.
- Attorney Services are either fully covered (depending on the type of legal issue) or out-of-network for a reduced fee.
For more information regarding this benefit, please refer to the resources provided below:
Effective January 1, 2004, we introduced the Adoption Assistance Program that reflects our commitment to sponsor benefits that support the diverse needs of employees as they balance their work and family responsibilities. To date, we have received a great deal of positive feedback from our faculty and staff about this new benefit.
To be eligible for this benefit, employees must be:
- Regular full-time Faculty (with with base annual salary greater than $30,000) or non-union staff employed by NYU Hospitals Center, NYU School of Medicine, or the Hospital for Joint Diseases; AND
- Have at least one year of continuous service at the point that eligible expenses are incurred; AND
- Remain employed in an eligible position during the period in which the child is placed with the employee.
Eligible employees are offered a lifetime reimbursable allowance of $5,000 per child ($10,000 for multiple adoptions) per family for eligible expenses incurred as a result of adopting a child.* The Adoption Assistance Program is available ONLY for eligible expenses incurred after 1/1/04 – any expenses for a child placed prior to this date cannot be reimbursed.
* Adoption expenses incurred for a child will be considered if the child is under the age of 18 or physically or mentally incapable of caring for him or herself. The child must also be financially dependent on the employee and cannot be the dependent child of the employee’s spouse or same-gender domestic partner.
The employee is responsible for the accurate reporting to the IRS, state and local taxing authorities of amounts reimbursed under the Adoption Assistance Program.
For more information about this new benefit, please view the employee communication sent to eligible employees in January 2004, or contact Benefits Services
| Home Financing and Banking Services by HSBC and Merrill Lynch |
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Because buying a home is one of the largest financial transactions that you and your family can make, NYU Medical Center recently partnered with HSBC and Merrill Lynch to respectively offer mortgage and banking services benefits to our employees. These supplement the financial services already offered by Fleet.
By offering services by these world-class financial institutions, we enable employees to make wise decisions that help achieve their overall financial objectives, whether buying, re-financing, or saving for a home.
For details about the new services offered by HSBC and Merrill Lynch, please view
the announcement letter sent to eligible employees in January 2004.
- For specific information about HSBC’s services, please click here.
For questions regarding HSBC’s Exclusive Mortgage services, please call Lawrence Kelter, Senior Mortgage Lending Officer, at (631) 420-7610.
- For specific information about Merrill Lynch’s services, please click here. For additional questions, please call Jerry Andrews at (212) 382-8600 or visit http://mlcc.ml.com/nyumed.
| UPromise: The New NY State 529 College Savings Plan Administrator
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The New York State 529 College Savings Program is a tuition savings plan, established under section 529 of the Internal Revenue Code, to help individuals and families save for future costs of higher education. Effective November 14, 2003, UPromise Investments, Inc. replaced TIAA-CREF as program administrator for NY State 529 Programs. Meanwhile, the Vanguard Group has become the new investment manager and account service provider.
Under the 529 Plan, employees can establish a college savings account for a designated beneficiary and make contributions that will eventually pay tuition and other qualified higher education expenses* at eligible undergraduate and graduate, public or private college or university, trade, vocational or professional schools.
* Qualified higher education expenses include tuition, fees, eligible room and board, books, supplies, and required equipment.
The 529 Plan can provide significant Federal and State tax savings where applicable. As with all tax saving plans, a tax advisor should be consulted to find out how this plan would benefit you.
UPromise Rewards Service feature
In addition the investment options offered by Vanguard, UPromise offers their “Rewards Service” feature,* which is another opportunity to save for higher education. This free service helps you save by returning a percentage of your spending at major retailers in the country, such as McDonald’s and ExxonMobil. The returns that you earn through the Rewards Service can be transferred to your 529 Plan account.
* To take advantage of UPromise’s Rewards Service feature, you must enroll separately from the New York 529 Plan.
For more information about the New York 529 plan, you can view a Program Overview or download the New York 529 Program Brochure & Tuition Agreement.
Additional information is also available at www.upromise.com and/or www.nysaves.org, or call (877) NYSAVES (877.697.2837) to speak with a Vanguard education investment specialist.
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