Limited Pay-Period Premium Holidays

2022 Calendar Year Limited Pay-Period Premium Holidays

During a premium holiday, deductions will not be made or appear on your earnings statement, but your coverage will continue without interruption. The limited pay-period premium holidays are:

  • For the State Vision Plan, no premiums will be deducted for 26 pay-periods, beginning with pay date 1/6/22. Employer-paid premiums and part-time employee, and DROP employee paid premiums will resume in calendar year 2023. Full-time employees pay no premium for enrollment in the State Vision Plan.

 

What is a limited pay-period premium holiday? 

A limited pay-period premium holiday means the premium paid for an elected insurance benefit is waived. Coverage continues uninterrupted for those enrolled.

The vision premiums are being waived for the entire 2022 calendar year. The vision benefit description will not appear on your earnings statement during the premium holiday period because no premiums will be deducted. After the premium holiday concludes, premium deductions will resume and appear on your earnings statement as normal. No action is required on your part.

 

Why is there a limited pay-period premium holiday?

The State's vision plan is self-funded. This means that the State pays claims costs from the bi-weekly premium contributions paid by enrolled employees and employing agencies. In reviewing the fund balances for these plans, it was determined a limited premium holiday could be offered this year for the vision plan, while still maintaining sufficient funds to pay all claims.