Pro. 4 Estimating Health Insurance
Health insurance estimations are based on the percentage of effort the employee will work on a project and can differ depending on the classification of the UNC-CH employee.
Note: Because health insurance covers a 12-month period, no health insurance charges are necessary for a 9-month employee working in the summer. Thus, it is best to use the annual health insurance rates rather than monthly rates when calculating benefits.
I. Estimating Health Insurance — EPA and SPA employees (fulltime, permanent), Post docs, qualifying Graduate and Undergraduate students, and Part-time employees:
1. First, determine the employee classification annual health insurance rate.
2. Then multiply the applicable premium times the percent of proposed effort.
For example: A fulltime employee with 30% proposed effort.
$4,293.00 x .30 = $1,287.90, rounded to $1,288.
The result (here, $1,288.00) is the estimated amount for health insurance for the proposed percent of effort.
II. Estimating Health Insurance — Clinical faculty and licensed physicians eligible for the Physicians & Associates Supplement.
1. For each qualifying individual, add $1,690 to the applicable annual amount ($4,293.00).
$1,690 + $4,293 = $5,983
For example: A full time MD who will give 45% effort on a grant.
.45 x $5,983 = $2,692.35 estimated amount for health insurance based on proposed percent of effort.
The policies in the Office of Sponsored Research Policies & Procedures Manual supersede any OSR policies, procedures and appendices previously included in the University Business Manual, a publication of UNC Chapel Hill’s Division of Finance.