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Open Enrollment Period for Supplemental Life Insurance and Long Term Care

We are pleased to announce an upcoming special open enrollment period
for two important employee benefit programs – supplemental life
insurance and long term care.

During the month of March 1993, you will have the opportunity to
purchase supplemental life insurance in multiples of one, two, or
three times your USC annual base salary. You will only need to
complete a brief five question health statement instead of the usual
lengthy health questionnaire.

Also in March 1993, several changes will occur in the University’s
Long Term Care Program. Long term care provides a cash payment
directly to you for every day you are confined to a nursing home or
are receiving at home custodial care after a 90 day exclusion period.
Our current coverage allows you to choose from lifetime maximum
benefits of $120,000, $160,000 or $200,000 which provide a $60, $80,
or $100/day benefit for in-patient services, with a corresponding
$30, $40, or $50/day benefit for at-home services. The monthly
rates are determined based on your age at time of enrollment and will
not increase as you get older. Your spouse is eligible to enroll in
Long Term Care (LTC); spousal premiums will be deducted from your
paycheck. Your parents and parents-in-law are eligible to purchase
this coverage directly from the company, CNA.

If you are currently enrolled in LTC, you will have several options
during this open enrollment period. You can elect to remain with
your current level of coverage. You can purchase a $20/day increment
in your benefit level which will also increase the lifetime maximum
benefit. The cost of this additional coverage will be based upon
your current age. Or you may change to the new option that offers
coverage choices of lifetime maximum benefits of $160,000, $200,000
or $240,000; $80, $100, or $120/day in-patient benefits with half the
amount payable for at-home services. The new plan features a “cost
incurred” benefit that will reimburse you for actual expenses up to
the daily maximum you select, a calendar day waiting period, and
temporary bed holding privileges. Rates for the new plan will be
based on your age at the time of original enrollment.

Employees who are enrolled in the existing long term care program
will receive information regarding their options during the open
enrollment mailed to their home address.

If you would like to enroll in LTC for the first time, you may do so
during the open enrollment period without completing an extensive
health statement although pre-existing exclusions will still apply.
Your choices will be limited to the three coverage options of $80,
$100, or $120/day in-patient benefits offered under the new plan.
Your monthly premium will be based on your age on May 1, 1993, the
effective date of coverage.

Employees who are not currently enrolled in LTC will receive open
enrollment information through their home department coordinator.

Several seminars have been scheduled. A representative from CNA will
present an overview of the long term care program, USC Benefits
Office personnel will explain the enrollment procedures for long term
care and supplemental life insurance, a question and answer period
will follow the formal presentations. The seminars are scheduled as
follows:

University Park Campus Seaver Science Auditorium
Monday March 8 2:00-3:30
Tuesday March 9 9:30-11:00
Tuesday March 9 2:00-3:30

Health Sciences Campus Hastings Auditorium Wednesday March 10
9:30-11:00

The open enrollment will end March 31, 1993. All changes to existing
coverage or new enrollments must be received in the University Park
Personnel Services Benefits Office, STO 203, MC 1142, or the Health
Sciences Personnel Office, KAM 409, by this date to be effective
under the provisions of the open enrollment period. Coverage will be
effective May 1, 1993; premiums are paid a month in advance and will
be deducted from the April 1993 paychecks.

Please review the information sent to you, plan to attend one of the
seminars, and call the Benefits Office at 740-6027 or Health Sciences
Personnel Office at 342-1010 if you have any questions.

Open Enrollment Period for Supplemental Life Insurance and Long Term Care

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