Health Insurance Premium Rebate
August 30, 2013
UnitedHealthCare has rebated a portion of the college’s health insurance premiums through our group policy as required by the Affordable Care Act.
Guilford College will return shares of the rebate to present plan participants through the monthly payroll process. Since health insurance deductions are almost always taken on a pre-tax basis, the rebate will be added to Aug. 30 pay as taxable income.
Any employee who pays premiums on a post-tax basis will receive a non-taxable check in the mail. The rebates range from $1.04 to $91.89, depending on your level of coverage and the total premiums you’ve paid so far this year. This is less than last year’s individual rebate as the total rebate to the college was much smaller.
This rebate will show up under the heading of earnings, STIPEND3, on your Banner web pay stub for Aug. 30.