Welcome to the LSU Benefits website!
This site will provide guidance and support for all employees and retirees concerning their benefits and retirement needs. Whether you are a new or current employee of LSU or a retiree, we are here to serve you. Browse through our website for information regarding health insurance, supplemental benefit plans, retirement plan options, and eligibility. Feel free to contact us with questions, concerns or comments.
Below are links that will take you directly to information regarding the various benefit options:
- Health Insurance
- Supplemental Benefits
- Supplemental Retirement
- Tuition Exemption
- Awards & Recognition
- Benefits Eligibility Calculator
Each year during the month of October, eligible employees have an opportunity to add or change their Health Plan and Voluntary Benefit elections for an effective date of January 1.
New Pharmacy Benefit Management for OGB Health Plans Beginning Jan. 2014
Members of OGB health plans will receive information in the mail over the next few days outlining their new pharmacy coverage. MedImpact Healthcare Systems, Inc. has been awarded a contract to provide pharmacy benefit management (PBM) services to OGB members beginning January 1, 2014. MedImpact is the nation's largest full-service pharmacy benefit manager, serving more than 35 million members across the U.S. Under the new contract, MedImpact will provide prescription drug coverage for the more than 220,000 benefit-eligible employees, retirees and dependents enrolled in the OGB HMO and PPO health plans administered by Blue Cross and Blue Shield (BCBS) of Louisiana.
Medicare-eligible retirees and their Medicare-eligible dependents will be covered by Medicare GenerationRx (Employer PDP), provided through MedImpact’s subsidiary, MedGenerations, effective January 1, 2014. Previous coverage will continue through December 31, 2013.
With MedImpact and MedGenerations, OGB member co-insurance and other out-of-pocket prescription drug costs will remain the same as they were last year. Members will receive a new ID card in the mail in December that they can use at pharmacies beginning in January.
IMPORTANT: By enrolling in Medicare GenerationRx, Medicare-eligible retirees will automatically cancel their enrollment in a different Medicare prescription drug plan or a Medicare Advantage plan. That’s why they will receive a disenrollment letter from Express Scripts Medicare. There is no reason to worry; there will be no interruption in coverage. Members will be covered by Express Scripts Medicare through December 31, 2013, and will be covered by Medicare GenerationRx starting January 1, 2014. They do not have to do anything.
Members will receive more details from MedImpact and MedGenerations over the next few days. If you or any of your agency’s employees have any questions in the meantime, please call OGB’s customer service department at 1-800-272-8451.
Implementation of Cash Balance Plan Retirement Option Delayed
With the passage of House Concurrent Resolution (HCR) 2, the Louisiana Legislature agreed to delay implementation of the Cash Balance Plan until July 1, 2014 for both TRSL and LASERS retirement systems.
The Cash Balance Plan law was passed in the 2012 legislative session. It created a new retirement plan for employees of postsecondary education institutions, postsecondary education management boards, and state government positions hired on or after July 1, 2013.
Accrual Rate Increase Option with Transfers between Retirement Systems
Senate Bill 14* (SB14) will allow individuals to purchase a higher accrual rate when transferring service credit to another system, if the other system has a higher accrual rate, by paying all actuarial costs. In addition, it will also permit individuals to complete a reverse transfer of service credit without having to immediately retire if application is made on or before December 31, 2013.
*Pending Governor’s signature
TRSL Responds to Questions about ORP Employer Contribution Rate
How does the new Cash Balance Plan affect Optional Retirement Plan (ORP) employer contribution rates? In response to that and other related questions, TRSL has prepared a fact sheet.
Do you know about the Premiums Only Plan?
Monthly Premiums and Tax-Saver Premiums Only Plan
Changes in Participation During the Year
A qualifying event only allows for changes to an existing election. If you did not make an election to participate in the Plan during Annual Enrollment or within 30 days of being eligible for benefits, a qualifying event will not allow for enrollment in the Plan mid-year. The only exception to this rule is in cases where there is a loss of other coverage.
*If you did not make an election to participate in the Plan during Annual Enrollment or within 30 days of being eligible for benefits, a qualifying event will not allow for enrollment in the Plan mid-year.