On January 1, 2012, employees of many companies and organizations found themselves facing double-digit increases in medical premiums. Through discussions and negotiations with our health care partners, IIT was able to limit its increase to 7%. The university opted to absorb the difference between the new and old rates, and not pass it along to employees for the first six months of the 2012 benefit year.
The new rate will take effect beginning with your June 30 paycheck.
Negotiating rates for employee medical premiums continues to be one of the most difficult challenges facing organizations large and small. By absorbing six months of the increase for the 2012 benefit year, the university has tried to minimize somewhat the impact on members of the IIT community.
If you have questions about your medical premium, please contact the Office of Human Resources at 312.567.3318 or firstname.lastname@example.org. Please note that the specific rates that will be applied were announced during the open enrollment period in late 2011.