Subscribe to our new Benefits News e-mail list Learn about benefits changes immediately and stay informed of upcoming deadlines by subscribing to this online newsletter . Simply click on the link and type subscribe benefits-news end in the body of the message Summary of Changes for 2001 Each year during Open Enrollment, employees are given the opportunity to learn about new benefit options and prices offered through Educated Choices and make new elections. Educated Choices itself has been redesigned for 2001 to provide more simplified pricing and increased ability for employees to direct their Choice Dollars. Choice Dollars are allocated by Stanford for medical, dental, employee life and long term disability coverage. Employees can use the Dollars for these options, apply them toward other options, or waive coverage and receive taxable cash.
Participants pay their share of premium costs for benefit choices through salary deductions.
In this way, each person has some control over the way he or she uses contributions from Stanford. Back to top How Choice Dollars are Allocated Medical Dental Choice Dollars are based on the lowest cost medical option Choice Dollars cover the cost of Dental Insurance for full-time employees. Basic Employee Life Plan Choice Dollars cover the cost of the highest level of Basic Life Insurance for employees. The amount differs for each employee based on employee age and salary. Long Term Disability Choice Dollars cover the cost of the highest level of LTD Insurance for all employees.