2022 News Archive

Updated ICI Premiums Effective Feb. 1, 2022

Income Continuation Insurance (ICI) premiums are reviewed annually, and any updates are effective February 1. Premium changes for 2022 will be reflected on the February 24, 2022, paycheck.

If you are currently enrolled in the ICI program, visit the ICI Premium Notice web page for your personalized updated premium amount. Current enrollees were sent an email January 25 with a link to this web page.

Several factors determine your premium amount:

Your Earnings

  • For Faculty/Academic Staff/Limited Appointees: ICI premium* is based on your 2021 eligible earnings and the elimination period you elected when you enrolled.
  • For University Staff: ICI premium* is based on your 2021 eligible earnings and unused sick leave balance as of December 18, 2021.

    *If you were placed on an intermittent furlough, temporary work reduction, consecutive day furlough or were on an unpaid leave of absence during 2021, review ICI Premium Notice web page for information on how your premium may be affected.

Premium Rates

For 2022 the ICI premium rates will decrease by 50%.

Deferred Enrollment Period

The ICI annual premium update does not reflect any enrollment made during the ICI Deferred Enrollment period which began in January and ends March 1, 2022. Employees who are eligible to participate in the ICI Deferred Enrollment period received notification about their opportunity via an email sent January 15.

ICI Benefits

ICI provides replacement income if you are unable to work due to a short or long-term disability.

  • Standard ICI coverage provides you with 75% of your gross salary up to a maximum of $4,000 per month (75% of $64,000). Standard ICI coverage is on annual earnings up to $64,000.
  • Supplemental ICI coverage provides 75% of your gross salary to a maximum of $7,500 per month (75% of $120,000). Supplemental ICI coverage is on annual earnings up to $120,000.

More Information

For ICI plan information visit the UW System Employee Benefits ICI web page. After reviewing the web page, if you have additional questions, contact your institution benefits contact.

Source: UW System Human Resources

W-2 Forms Now Available Online

Electronic 2021 W-2 Forms (Wage and Tax Statements) are now available in the MyUW portal for UW System institutions or for UW-Madison. Paper copies are mailed to all employees except those who chose to receive an electronic only W-2 by January 13, 2022. Employees will receive a paper copy of the W-2 Form via U.S. mail postmarked by January 31, 2022.

Instructions to View/Print 2021 W-2 Form.

Availability of Other Tax Forms
Some employees will receive additional tax forms from UW System. These additional forms are not applicable to all employees. Examples include:

  • Form 1095-C - This form includes information about the health insurance coverage offered to you by your University or through the UW System. A separate communication will be sent to employees who will receive this form.
  • The Fellowship Letter – This form shows amounts paid through the University payroll as a Fellowship/Scholarship, which are not considered to be wages by the IRS and are not subject to Social Security or Medicare withholding. The form is typically available in February.
  • The 1042-S Forms – This form includes a foreign person’s income from a U.S. source which is subject to tax withholding. The form is typically available in the MyUW portal for UW System institutions or for UW-Madison in March. Employees who have chosen electronic delivery through the Glacier System may have access to their forms earlier. Others will have their form mailed to their home address. Instructions to View/Print 1042-S Form and Fellowship Letter.

Resources
Visit Tax Statement Help for resources regarding the various tax forms.

Filing Taxes
Employees should use their W-2 Form, not their final 2021 earnings statement, to file taxes.

Some employees have had adjustments to their 2021 taxable earnings since the last 2021 payroll was paid and may have an additional earnings statement generated reflecting these adjustments. These adjustments will already be reflected on the W-2 Form that the employee receives.

The IRS will begin accepting and processing 2021 tax year returns on January 31, 2022. Employees may want to file their return as soon as all tax forms are received to minimize the chance of a fraudulent return being processed using their Social Security number, or Individual Taxpayer Identification number. More information is available on the IRS website.

If you have questions, contact your Payroll office.

Source: UW-Shared Services, Service Operations

ICI Deferred Enrollment through March 1, 2022

You may be eligible to participate in the annual Income Continuation Insurance (ICI) Deferred Enrollment period now through March 1, 2022. Eligible employees were notified by email on January 15.

ICI provides replacement income if you are unable to work due to a short or long-term disability.

Eligibility

  • If you are currently enrolled in the ICI plan and have Standard ICI coverage, you may be eligible to enroll in Supplemental ICI coverage during the ICI Deferred Enrollment period.
  • If you are not currently enrolled in the ICI plan, you may be eligible to enroll during the ICI Deferred Enrollment period. This is the only time during the year you may enroll in the ICI plan without providing evidence of insurability.

Visit your ICI employee web page to view your ICI eligibility and for personalized data to assist you in making an enrollment decision.

How are ICI Coverage and Premiums Determined?

ICI coverage and premiums are based in part on your eligible earnings*. For Faculty, Academic Staff and Limited Appointees, the elimination period you elect when you enrolled is an additional factor. For University Staff employees your sick leave balance* is also a factor.

*If you were placed on an intermittent furlough, temporary work reduction, consecutive day furlough or were on an unpaid leave of absence during 2021, review the ICI employee web page for information on how your premium may be affected.

ICI Benefits

Standard ICI coverage provides you with 75% of your gross salary up to a maximum of $4,000 per month (75% of $64,000). Standard ICI coverage is on annual earnings up to $64,000.

Supplemental ICI coverage provides 75% of your gross salary to a maximum of $7,500 per month (75% of $120,000). Supplemental ICI coverage is on annual earnings up to $120,000.

For More Information or to Enroll

Review the UW System Employee Benefits ICI web page.

To enroll during the ICI Deferred Enrollment period, submit an application to your institution benefits contact by 4:30 p.m. on Monday, March 1, 2022.

If you have questions after reviewing the available information, contact your institution benefits contact.

Source: UW System Human Resources