Once you meet the eligibility requirements, you automatically receive basic life insurance coverage that is paid for by the Health Alliance. Your coverage amount varies, depending on whether you are a full-time or a part-time associate:

• Full-time:
  - Exempt and nonexempt associates: 1.5x pay
  - Management associates and medical residents: 2x pay
  - Physician, vice-president or above: 3x pay.
• Part-time: $5,000.

For purposes of basic life insurance, pay is defined as your base rate of pay. It does not include shift differential, overtime, or other special pay. The benefit coverage amount reduces beginning at age 65. An evidence of insurability form is required for coverage higher than $1,000,000.

Beneficiary
You can choose anyone to be your beneficiary under basic life. That beneficiary will receive your plan benefit if you die while covered under the plan. You’ll need to fill out the appropriate beneficiary section on your benefits enrollment form or complete a Change in Beneficiary Designation form when you wish to make a change in your beneficiary. You can change the beneficiary at any time. The Change in Beneficiary Designation form can be found in your human resources department or in benefits forms section of this site.

Accelerated Death Benefit
Terminally ill associates may be entitled to an accelerated payment of a portion of their life insurance benefit. This accelerated payment is voluntary. If the accelerated death benefit is paid, the associate’s life insurance death benefit will be reduced.

Cost of Coverage
The Health Alliance pays the full cost of basic life insurance coverage. You pay nothing. However, if you have coverage of more than $50,000, you will be responsible for taxes on any imputed income.

Imputed Income
Under federal law, you are required to pay income taxes on the employer’s cost for basic life insurance that is more than $50,000. If this applies to you, an amount of "imputed income" will be listed included as taxable wages on your W-2 earnings statement. Federal, state and local income taxes on that cost, where applicable, are automatically taken out of your pay.

Survivor Support Services
When someone dies or faces terminal illness, there are usually several household and future planning issues that must be addressed. Individuals are faced with questions concerning transfer of titles, settling estates, investment options, tax implications, etc. Your current company-provided life insurance policy includes additional services provided by The Ayco Company, L.P., one of the nations oldest financial counseling firms. Features of this benefit include:

• Expert, objective financial advice at no cost to recipients
• Face to face counseling with an Ayco Tax attorney
• Development of a detailed, personalized financial plan
• Guidance for up to six months, via toll-free telephone access.

Survivor Support Financial Services is provided in conjunction with the Basic Life Insurance Plan and free to survivors after the death of an insured associate or to terminally ill associates.