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Texas Woman’s University benefits package is a valuable part of your employment. Benefits are offered under a group program administered by the Employees Retirement System of Texas, Teacher Retirement System of Texas and Texas Woman’s University. The following is an overview of options available to you.
The University’s medical plan is provided under the Employees Retirement System of Texas Group Benefit Program and is administered by Blue Cross Blue Shield. Network benefits are paid based on your choice of physicians at the time you receive care. In-network benefits are paid at 80/20% and office co-pays range from $25-$40. Medical coverage is available to eligible employees the first of the month after a 60 day waiting period.
Prescription drug coverage is provided by Optum RX. Co-pays for prescriptions are three tiered and generally range from $15 to $60 per 30 day supply. Prescription drug coverage is effective the same day as medical coverage
Flexible Spending Accounts/TexFlex
A TexFlex account is a flexible spending account (FSA) that allows you to set aside money your paycheck, pre-tax, to use for eligible out-of-pocket expenses. You can contribute to a health care and a dependent care account.
- Health Care Account - Used to pay eligible medical, dental, vision, hearing, and prescription drug expenses.
- Dependent Care Account - Used to pay eligible expenses including child day care and adult day care programs.
Benefit eligible staff members will participate in a 401(a) retirement program. This program is administered by the Teacher Retirement System of Texas. Benefits are based on years of service, salary and age. Full-time faculty are eligible to participate in either the 401(a) or a 403(b) retirement plan. The 403(b) program is administered under TWU’s plan document. Full-time faculty are eligible (in most cases) to enroll in either a 401(a) defined benefit program or a 403(b) defined contribution plan. Deferrals are made under a salary reduction agreement and benefits are paid based on personal investment performance. Eligible faculty members have 90 days from their first date of employment to choose between the two plans. If no selection is made on or before the first day of employment contributions will be defaulted to Teacher Retirement System of Texas.
In addition to your retirement plan, you can contribute to a voluntary 403(b) tax deferred account or a 457(b) deferred compensation plan. Both plans allow you to tax shelter a portion of your income through investment vehicles. These programs are defined by the Internal Revenue Service and are administered by Texas Woman’s University (403) and the Employees Retirement System (457).
In addition to medical, prescription and retirement TWU employees are also eligible for Dental coverage, Term Life Insurance, Long and Short Term Disability Insurance, and Flexible Spending Accounts. The amount of time you have to enroll depends on the benefit. If you wait too long to enroll in health, disability, certain levels of life insurance, or life insurance for your dependents, you will need to provide proof of good health or evidence of insurability (EOI). However, if you enroll in these benefits when you’re first eligible, your acceptance is guaranteed in most cases.
The Employees Assistance Program (EAP) provides valuable services at no cost to employees and their families. These services include short-term counseling, legal and financial consultations and work/life resources. The EAP is administered through Alliance Work Partners.
As an employee of Texas Woman’s University, you will receive between 12 and 15 days off to observe specified holidays. In addition, you may be eligible to take time off to observe unspecified holidays with prior departmental approval. Full time employees will also earn 8 hours of sick leave per calendar month