Life and Accident Insurance

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Group Term Life Insurance

Voluntary Term Life Insurance

Rates

Nontobacco User

Rate Per $10,000		Age (Years)Coverage Amount
  $10,000$20,000$30,000$40,000$50,000$60,000$70,000$80,000$90,000$100,000
$0.33<25$0.33$0.66$0.99$1.32$1.65$1.98$2.31$2.64$2.97$3.30
$0.3625–29$0.36$0.72$1.08$1.44$1.80$2.16$2.52$2.88$3.24$3.60
$0.4630–34$0.46$0.92$1.38$1.84$2.30$2.76$3.22$3.68$4.14$4.60
$0.5435–39$0.54$1.08$1.62$2.16$2.70$3.24$3.78$4.32$4.86$5.40
$0.7940–44$0.79$1.58$2.37$3.16$3.95$4.74$5.53$6.32$7.11$7.90
$1.3445–49$1.34$2.68$4.02$5.36$6.70$8.04$9.38$10.72$12.06$13.40
$2.1350–54$2.13$4.26$6.39$8.52$10.65$12.78$14.91$17.04$19.17$21.30
$3.3455–59$3.34$6.68$10.02$13.36$16.70$20.04$23.38$26.72$30.06$33.40
$3.9560–64$3.95$7.90$11.85$15.80$19.75$23.70$27.65$31.60$35.55$39.50
$8.2065–69$8.20$16.40$24.60$32.80$41.00$49.20$57.40$65.60$73.80$82.00
Rate Per $10,000Age (Years)Coverage Amount After Reduction
**Coverage Reduction$6,500$13,000$19,500$26,000$32,500$39,000$45,500$52,000$58,500$65,000
$11.2570–74$11.25$22.50$33.75$45.00$56.25$67.50$78.75$90.00$101.25$112.50
**Coverage Reduction$4,500$9,000$13,500$18,000$22,500$27,000$31,500$36,000$40,500$45,000
$14.3575–79$14.35$28.70$43.05$57.40$71.75$86.10$100.45$114.80$129.15$143.50
**Coverage Reduction$3,000$6,000$9,000$12,000$15,000$18,000$21,000$24,000$27,000$30,000
$9.5680–84$9.56$19.12$28.68$38.24$47.80$57.36$66.92$76.48$86.04$95.60
**Coverage Reduction$1,500$3,000$4,500$6,000$7,500$9,000$10,500$12,000$13,500$15,000
$4.7885+$4.78$9.56$14.34$19.12$23.90$28.68$33.46$38.24$43.02$47.80

For an amount greater than $100,000, refer to the example below:

You are 32 years old and wish to enroll for $270,000 of coverage. You find the line for age 30–34 years and find that $100,000 of coverage costs $4.60. The cost for $200,000 would therefore be $4.60 x 2, or $9.20. Then you find the cost for $70,000 of coverage for age 30–34, which is $3.22. When you add that amount to the previous amount of $9.20, you find that the total cost for $270,000 of coverage is $9.20 + $3.22, or $12.42.

Coverage Reduction (Employee): At age 70, reduce by 35%; at age 75, there is an additional 20% reduction of the original amount; at age 80, an additional 15% reduction of the original amount; and at age 85, an additional 15% reduction of the original amount.

Coverage Reduction (Spouse): The coverage reduction for a spouse is based on the employee’s age and reduced by same percentages as described above.

Example: The employee’s coverage amount at age 69 is $100,000. Their spouse is 72 years old and also has $100,000 of coverage. The rate is $82.00 for each of them. When the employee turns 70 years old, the coverage for the employee AND their spouse will decrease to $65,000, with a corresponding rate of $112.50.

Tobacco User

Rate Per $10,000		Age (Years)Coverage Amount
  $10,000$20,000$30,000$40,000$50,000$60,000$70,000$80,000$90,000$100,000
0.58<25$0.58$1.16$1.74$2.32$2.90$3.48$4.06$4.64$5.22$5.80
0.5825–29$0.58$1.16$1.74$2.32$2.90$3.48$4.06$4.64$5.22$5.80
0.7930–34$0.79$1.58$2.37$3.16$3.95$4.74$5.53$6.32$7.11$7.90
1.0435–39$1.04$2.08$3.12$4.16$5.20$6.24$7.28$8.32$9.36$10.40
1.6440–44$1.64$3.28$4.92$6.56$8.20$9.84$11.48$13.12$14.76$16.40
2.9245–49$2.92$5.84$8.76$11.68$14.60$17.52$20.44$23.36$26.28$29.20
4.850–54$4.80$9.60$14.40$19.20$24.00$28.80$33.60$38.40$43.20$48.00
7.4155–59$7.41$14.82$22.23$29.64$37.05$44.46$51.87$59.28$66.69$74.10
7.9660–64$7.96$15.92$23.88$31.84$39.80$47.76$55.72$63.68$71.64$79.60
1565–69$15.00$30.00$45.00$60.00$75.00$90.00$105.00$120.00$135.00$150.00
Rate Per $10,000Age (Years)Coverage Amount After Reduction
**Coverage Reduction$6,500$13,000$19,500$26,000$32,500$39,000$45,500$52,000$58,500$65,000
$17.3670–74$17.36$34.72$52.08$69.44$86.80$104.16$121.52$138.88$156.24$173.60
**Coverage Reduction$4,500$9,000$13,500$18,000$22,500$27,000$31,500$36,000$40,500$45,000
$19.9575–79$19.95$39.90$59.85$79.80$99.75$119.70$139.65$159.60$179.55$199.50
**Coverage Reduction$3,000$6,000$9,000$12,000$15,000$18,000$21,000$24,000$27,000$30,000
$13.3080–84$13.30$26.60$39.90$53.20$66.50$79.80$93.10$106.40$119.70$133.00
**Coverage Reduction$1,500$3,000$4,500$6,000$7,500$9,000$10,500$12,000$13,500$15,000
$6.6585+$6.65$13.30$19.95$26.60$33.25$39.90$46.55$53.20$59.85$66.50

For an amount greater than $100,000, refer to the example below:

You are 46 years old and wish to enroll for $210,000. You find the line for age 45–49 years and find that $100,000 of coverage costs $29.20. The cost for $200,000 of coverage would be $29.20 x 2, or $58.40. Then you find the cost for $10,000 of coverage for age 45–49, which is $2.92. When you add that to the prior amount of $58.40, you find that the total cost for $210,000 of coverage is $58.40 + $2.92, or $61.32.

Coverage Reduction (Employee): At age 70, reduce by 35%; at age 75, there is an additional 20% reduction of the original amount; at age 80, an additional 15% reduction of the original amount; and at age 85, an additional 15% reduction of the original amount.

Coverage Reduction (Spouse): The coverage reduction for a spouse is based on the employee’s age and reduced by same percentages as described above.

Example: The employee’s coverage amount at age 69 is $100,000. Their spouse is 72 years old and also has $100,000 of coverage. The rate is $150.00 for each of them. When the employee turns 70 years old, the coverage for the employee AND their spouse will decrease to $65,000, with a corresponding rate of $173.60.

Child
  • One affordable monthly premium covers all of your eligible dependent children.
  • $10,000 of coverage for only $2.20 per month
Resources

Summaries and Certificates

Voluntary Accident Life (AD&D) Insurance

Retirement

Retirement Overview

ARUP offers a robust and competitive retirement package. All employees are eligible to participate in the retirement program as of their first day of employment. Employees can use both pre-tax and after-tax options to save money in 403(b) and 457(b) plans. Additionally, ARUP makes contributions to employees’ retirement accounts of up to 8.1% of the employee’s eligible earnings that are 100% vested at all times.

Retirement Plan Information
Medicare/Social Security/Estate Planning

Senior Benefits (Medicare)

Brent Katter
801-523-6081
brent@srbenco.com

Capita (Social Security)

Laura Hadley
801-566-5058
laura@capitamail.com

Independence Law (Estate Planning)

Greg Lyle, Esq.
801-663-6406
greg@independencelawfirm.com

Make an appointment:
https://calendly.com/ilaw-greg/new-estate-plan

Milliman
Profit Sharing

Profit-Sharing Overview

All ARUP employees are eligible to participate in the quarterly profit-sharing plan beginning on the first of the month following six months of employment. Your profit-sharing amount is based on compensation earned after meeting the six-month eligibility requirement.

Profit-sharing payments vary depending on the performance of ARUP and are paid out at the company’s discretion. To receive the profit-sharing payment, you must be employed on the day the payment is made each quarter.

Profit-Sharing Vesting

Under the current profit-sharing plan, all payments are 100% vested and will be paid as a bonus. The payment will be quarterly, and retirement contributions will be deducted from the payment according to your current elections at the time of the profit-sharing payment.

Profit-sharing payments made before September 2020 were paid directly to employees’ retirement accounts and are subject to a five-year vesting schedule, as outlined below:


Years of Service		% Vested
<2 years0%
2 years25%
3 years50%
4 years75%
≥5 years or more100%

Financial Wellness Programs

Kashable Loans

Kashable Loans Overview

Kashable is a financial wellness program that provides employees access to socially responsible, low-cost credit to help bridge the financial gap caused by personal emergencies and other times of hardship.

Kashable is offered through the convenience of payroll deductions, and because the program is offered through ARUP, it provides employees with their most competitive unsecured credit option in the market. With access to low-cost credit, employees can tackle costly, high-interest debt and avoid it in the future.

To be eligible for a Kashable loan, employees must have at least six consecutive months of employment with ARUP Laboratories. Employees that live in NY, NJ, and OK are not eligible to apply for this loan.

 

 

Payactiv

Payactiv Overview

Through the Payactiv Financial Wellness Platform, employees have access to their earned wages ahead of payday, without any loans or hidden fees. The Payactiv app includes many features to help employees succeed financially, including:

  • On-demand access to earned wages
  • In-app bill payment feature
  • Cash pickup from Walmart Money Centers
  • Uber ordering tool
  • Saving and budgeting tools
  • Financial counseling and financial planning guides

To enroll, download the Payactiv app from the Apple or Google store.

For more information, refer to the pages below.