 Retirement Savings Plans: Baylor University Retirement Income Plan - 403(b), Baylor University Salary Deferral Plan- 457(b)
- Health Insurance: PPO Blue Choice Plan, High Deductible Health Plan + Health Savings Account(HDHP + HSA)
- Flexible Spending Account (FSA): Unreimbursed health/dental (URM), Dependent Day Care Expenses (DDC)
- Prescription Coverage
- Dental: Cigna PPO
- Vision: EyeMed
- Insurance: Long Term Disability, Basic Term Life Insurance, Supplemental Term Life, Accidental Death & Dismemberment (AD&D), Long Term Care
- Other Benefits: Employee Assistance Program (EAP), Adoption Assistance Program, AFLAC, Humana Cancer
1. Retirement Savings Plans
Baylor University Retirement Income Plan - 403(b)
The university provides eligible participants a defined contribution equal to 10.8% of the participant’s total pay. In addition, eligible participants may make voluntary contributions into the plan on either a pre-tax or after-tax basis. You may invest your 403(b) with GuideStone Financial Resources, Vanguard, or TIAA.
Baylor University Salary Deferral Plan- 457(b)
The 457(b) Salary Deferral Plan allows faculty and staff to make pre-tax income deferrals. These tax-deferred dollars may be invested with GuideStone Financial Resources.
2. Health Insurance
PPO Blue Choice Plan
This plan has higher premiums with a higher level of benefit by offering office visit and prescription copays with a lower annual deductible. Eligible preventive services, such as routine physicals and well‐woman exams, are covered at 100%. Some preventive care prescriptions will also be covered at 100%. Using the PPO Blue Choice plan allows enrollment in the healthcare Flexible Spending Account (FSA).
High Deductible Health Plan + Health Savings Account (HDHP + HSA)
This is a qualified high deductible medical plan. For the HDHP + HSA, the premium is lower than the PPO Blue Choice medical plan. The lower premium comes with the ability to contribute to a Health Savings Account. The HDHP provides the same health care provider network as the PPO plan. To encourage a healthy lifestyle and active management of health, eligible preventive services, such as routine physicals and well‐woman exams, are covered at 100%. Some preventive care prescriptions and specific generic maintenance prescriptions are also covered at 100%. All other services (including prescription drugs) are subject to the deductible before the plan pays a portion of the cost..
Unreimbursed Health/Dental Spending Account (URM FSA)
For 2018,you may contribute a maximum of $2,650 per year pre-tax to pay for medical, dental, vision, and hearing care expenses. The URM FSA is not available to participants enrolled in the HDHP + HSA health plan.
Dependent Day Care Spending Account (DDC FSA)
You may contribute a maximum of $5000 per year pre-tax if married. You can use this account to pay for childcare expenses that are necessary for you and your spouse to work.
4. Prescription Coverage
The benefit plan is administered by CVS/Caremark, a leading national provider of prescription drug benefit management programs and services. It is designed to assist members in obtaining prescription drugs in a cost-effective manner. You are automatically enrolled once you enroll in one of the medical plans. Both medical plans include Affordable Care Act (ACA) approved preventive care prescriptions covered at 100%.
5. Dental
Cigna PPO
The dental plan is a managed care plan designed to provide dental coverage through a network of dentist providers. The university pays a large portion of the premiums which makes the insurance more affordable for families.
6. Vision
EyeMed
This standard voluntary vision plan for eligible faculty and staff saves money on eye exams, eyeglasses, and contacts. Premiums are paid pre-tax by the employee.
7. Insurance
Long Term Disability
This insurance is a form of income protection that provides a portion of the member’s salary in the event of a disabling illness or injury. This benefit is provided by Baylor University.
Basic Term Life Insurance
Baylor University provides Basic Term Life Insurance for eligible full‐time faculty, staff and eligible dependents. The dollar amount depends on the employee’s salary and has a maximum benefit of $50,000.00. The Basic Term Life Insurance for a spouse and eligible dependent children is $2,000.00.
Supplemental Term Life
The Dearborn National Life insurance company offers guaranteed enrollment without evidence of insurability. The employee must be enrolled to include their spouse and dependent children.
Accidental Death & Dismemberment (AD&D)
This is extra insurance in case you die in an accident or lose part of your body such as a limb. The monthly premiums are paid pre‐tax.
Long-Term Care
This insurance covers costs associated with healthcare where you need help with performing daily basic activities independently such as bathing, dressing, eating, etc., or if there was severe cognitive impairment from a condition such as Alzheimer's disease. Long-term Care insurance requires an application and evidence of insurability. The monthly premiums are made on an after‐tax basis.
8. Other Benefits
Employee Assistance Program (EAP)
The program features assistance with counseling, family resources such as childcare, legal connections, financial assistance, and many other work-life balance resources.
Adoption Assistance Program
This program is available to full‐time faculty and staff and helps defray expenses associated with the adoption process.
AFLAC
These are additional insurance policies Baylor employees may purchase through AFLAC: Accident Indemnity Advantage, Cancer/Specified‐Disease, Specified Health Event, and Short‐Term Disability.
Humana Cancer
Premiums can be paid on a monthly pre-tax basis and cover certain expenses if you get cancer or other specified diseases.
Gaining Confidence In Your Baylor Benefits
Whether you just started working or you’re getting ready for retirement, you will want to feel confident that you are maximizing your benefits offered to you. Here are several ways you can work to provides excellent benefits to its employees. If you are seeking an early retirement, you need to make sure your actions will get you there. You should be investing heavily in your Baylor retirement accounts and likely other places as well.
3. Avoid High-Cost Investments
If you are investing in one of the retirement plans, as well as factor in when you will need to start taking money out. Your allocations should be reviewed at least annually to ensure your portfolio is not too retirement accounts or email me at mtrice@clearvistafinancial)Taco Bake It’s so quick and easy recipe to assemble and in about 15 minutes you can have this casserole ready to put in the oven.
It’s quite adaptable too if you want to add a few other ingredients, such as green onions, corn, black or pinto beans, jalapeno pepper slices or olives. I made this recipe last week for a young family who just had a newborn. If you’re family is into anything Tex-Mex they will adore this wonderful, comforting main dish. It is a little like eating nachos in casserole form.
Taco Bake has tortilla chips on the bottom, then a layer of ground beef mixed with taco seasoning, sour cream and green chilies, followed by a layer of shredded cheese. The layers are repeated a time or two ending with more cheese on top. It is SOOOOO easy. Choose a gluten free, MSG free taco seasoning or make up my Homemade Taco Seasoning recipe from scratch for healthier options.
If you need a quick and easy main dish recipe to throw together quickly because you are at ball practices, doctor’s appointments, or other venues late in the day, consider having these ingredients on hand and whip up this easy casserole. You can be ready to eat in about an hour!
This is a great recipe to teach your kids how to cook, too. It has so few steps and turns out so wonderfully–they will be greatly encouraged in cooking after making this tasty entree for dinner. This only has seven ingredients so it is an easy recipe even for a novice cook!
Taco Bake is not only quick and easy, it’s a sumptuous feast! Add some cornbread and a side salad and you have a really tasty meal.
I used these ingredients. I made up my own Homemade Taco Seasoning in the plastic bowl.
Brown ground beef. Drain if necessary. Add a can of undrained diced tomatoes and chilies, taco seasoning, sour cream and water.
Stir together and heat through about 5-10 minutes. If you want to bump up the recipe, this is when it’s time to add drained pinto or black beans and fire-roasted corn.
Spray casserole dish with cooking spray. Spread a layer of corn tortilla chips on the bottom.
Crumble a little of the ground beef mixture over top of the tortilla chips.
Sprinkle with a layer of cheese.
Repeat layers: add another layer of corn tortilla chips, then meat mixture, finally cheese.
Repeat layers once again making sure cheese is on top.
Bake at 350 for 20 minutes until cheese is bubbly.
Taco Bake is a wonderful dish for company, especially if you enjoy Tex-Mex entrees with lots of cheese.
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