Frequently Asked Questions about Health Care Changes
Why must we phase out the benefit bank?
The benefit bank is a costly and very unusual aspect of our health care that primarily benefits employees who take single coverage or who waive coverage because they have access to health insurance through other means. This not only creates inequities in compensation between employees doing the same job, but also drives up the cost of our health care. We simply cannot afford to spend our resources in a way that benefits only some of our employees if we want to be able to continue to offer affordable health care for all of our employees.
Can I expect to see further increases in the amount I have to pay for health insurance coverage?
Unfortunately, this will likely be the case. The College has absorbed much of the increase over the past decade and remains committed to providing a competitive benefits package, but we can all see that health care is going to continue to be an issue for the entire nation for some time to come.