The Health Trust offers life insurance coverage, including Basic Life, Supplemental Life, and Dependent Life. This coverage is administered by The Standard Insurance Company.
Basic Life
Basic Life insurance is available either with the Health Trust health insurance, or as a stand-alone plan. Employees enrolled in a Health Trust health insurance plan receive a Basic Life insurance benefit equal to one times their annual salary, at no additional cost to either the employee or the employer. (The cost of the basic life insurance in excess of $50,000 must be reported as part of an employee’s income, and is taxable). Eligible employees who are not enrolled in a Health Trust health insurance plan (for example, because they have coverage through a spouse’s health insurance plan) may choose to enroll in “Life No Med”, which is the Basic Life insurance benefit, for a nominal monthly premium. The Basic Life insurance plan includes an equal amount of Accidental Death & Dismemberment (AD&D) coverage.
Retirees who continue coverage under any of the MMEHT Health Plans receive a Basic Life Insurance benefit of $3,000. An equal amount of Accidental Death & Dismemberment coverage is also provided, until the retiree’s 70th birthday. Accidental Death & Dismemberment coverage for retirees terminates at age 70. Learn more…
Supplemental Life
Supplemental Life insurance allows the eligible employee to purchase additional life insurance coverage equal to an additional one, two, or three times their salary (up to a maximum salary of $150,000) . The level of coverage up to $375,000 is a guaranteed issue provided the employee enrolls when first eligible for coverage. If an employee purchases coverage that exceeds $375,000 or wishes to enroll after their initial eligibility period, they will be required to complete a medical Evidence of Insurability (EOI) review. The Supplemental Life insurance plan includes an equal amount of Accidental Death & Dismemberment (AD&D) coverage. Learn more…
Dependent Life
Dependent Life insurance is available to active employees whose employer has elected to offer such coverage. Participants may purchase coverage for their eligible dependents (legal spouse and/or children), whether or not the dependents are covered under a Health Trust health Plan. There are two Dependent Life insurance options available to employees whose employer offers this coverage. Learn more…
Life Insurance Forms and Resources: