Office of Sponsored Programs - 300.07, Procedure 4 - Estimating Health Insurance

Title

Office of Sponsored Programs - 300.07, Procedure 4 - Estimating Health Insurance

Corresponding with:

Purpose

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 University employee.

Health insurance covers a 12-month period. Effective in Summer 2018, budgeting of health insurance costs on faculty compensation outside of their 9-month appointment (summer salary) may be included in proposals.

Procedure

I. Estimating Fringe Benefits - Non-Clinical Faculty and Licensed Physicians

  • Determine the employee classification annual health insurance rate
  • Then multiply the applicable premium by the percent of proposed effort: $4,293 x 30% = $1,287.90

II. Estimating Health Insurance - Clinical Faculty and Licensed Physicians

  • The School of Medicine (SOM) provides guidelines for applying the appropriate supplemental benefits.
  • For each qualifying individual, add $1,690 to the applicable annual amount: $1,690 + $4,293 = $5,983
  • 45% x $5,983 = $2,692.35 estimated amount for health insurance based on proposed percent of effort.

Contact Information

For questions regarding this procedure and its related operating standard, please contact SponsoredPrograms@unc.edu.

For questions regarding Pre-Award management or Post-Award administration, please contact the assigned Sponsored Projects Specialist (SPS).

For invoicing, reporting and other financial matters, please contact the assigned Sponsored Projects Accountant.
OSP Staff assignments may be found in RAMSeS or on the OSP website.

History

History Table
Date Description
07/01/2022 Revised to reflect new office name.
07/11/2018 Revised to include budgeting of health insurance on faculty compensation outside of a 9-month appointment.
05/15/2018 Revised to coincide with the release of the new OSP Website.

The operating standards in the Office of Sponsored Programs Operating Standards & Procedures Manual supersede any OSP operating standards, procedures and appendices previously included in the University Business Manual, a publication of UNC-Chapel Hill’s Division of Finance.

100% helpful - 1 review

Details

Article ID: 132291
Created
Thu 4/8/21 9:28 PM
Modified
Sat 7/2/22 3:28 PM
Effective Date
If the date on which this document became/becomes enforceable differs from the Origination or Last Revision, this attribute reflects the date on which it is/was enforcable.
07/01/2022 12:00 AM
Issuing Officer
Name of the document Issuing Officer. This is the individual whose organizational authority covers the policy scope and who is primarily responsible for the policy.
Issuing Officer Title
Title of the person who is primarily responsible for issuing this policy.
Vice Chancellor
Last Review
Date on which the most recent document review was completed.
07/01/2022 12:00 AM
Last Revised
Date on which the most recent changes to this document were approved.
07/01/2022 12:00 AM
Next Review
Date on which the next document review is due.
07/01/2023 12:00 AM
Origination
Date on which the original version of this document was first made official.
05/08/2019 12:00 AM
Responsible Unit
School, Department, or other organizational unit issuing this document.
Research-Office of Sponsored Programs