Determining Health Benefit Contributions

Pursuant to Chapter 78, P.L. 2011, employees must now pay either a percentage of the medical and prescription plan premium for their health benefits OR 1.5% of their annual salary, whichever is greater.

For additional information, see Mr. Pechanec’s March 2, 2012 Memo under Resources.

The Division of Pensions and Benefits has provided updated Health Benefit Percentage of Premium Calculators on their website for the new SHBP and SEHBP medical plans and rates for 2012. The calculators can be accessed at:www.nj.gov/treasury/pensions/hb-percentage-home.shtml.

Users should keep in mind that because percentages will increase as of July 2012, calculations should be compared for both Phase One and Phase Two percentage amounts.

The Division of Pensions and Benefits has also posted recorded webinars to educate employees of on the new SHBP Open Enrollment and the new plan designs. You can view these webinars at:https://www1.gotomeeting.com/register/307840721.

When signing up to view, if you receive a message that you need a code c, please go to https://www1.gotomeeting.com/codec and follow the instructions.