What is a limited pay period premium holiday?
A limited pay-period premium holiday means the premium paid for an elected insurance benefit is waived. Coverage continues uninterrupted for those enrolled.
These benefit descriptions may not appear on your earnings statement during the applicable bi-weekly premium holiday periods because no premiums will be deducted. After the premium holidays conclude, the respective deductions will resume and appear on your earnings statement as normal. No action is required on your part.
Why is there a limited pay period premium holiday?
The State's vision, dental, and LTD insurance plans are self-funded. This means that the State pays claims costs from the bi-weekly premium contributions paid by enrolled employees and employing agencies. In reviewing the fund balances for these plans, it was determined a limited premium holiday could be offered this year, while still maintaining sufficient funds to pay all claims.
2023 Calendar Year Premium Holidays
- For the State Vision Plan, no premiums will be deducted for seven consecutive pay periods, beginning with pay date 3/30/23. Employer-paid premiums, part-time employee, and DROP employee-paid premiums will resume on the 7/6/23 pay check. Full-time employees pay no premium for enrollment in the State Vision Plan.
- For the State Dental Plan and Preventive Dental Plan, no employer-paid or employee-paid premiums will be deducted for three consecutive pay periods beginning with pay date 3/30/23. Premium deductions will resume on pay date 5/11/23.
- For the Long Term Disability (LTD) Insurance Plan, no employer-paid or employee-paid premiums will be deducted for seven consecutive pay periods beginning with pay date 3/30/23. Premium deductions will resume on pay date 7/6/23.
