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Manager's Income Protection Plan

The Manager's Income Protection Plan (IPP) is available to managerial level employees. 

In the Income Protection Plan (IPP), you receive basic managerial life insurance and disability coverage as described in the Manager’s Plan. The Income Protection Plan offers two plans so that employees can choose their level of coverage—Plan A or Plan B. Within each of the plans, employees can choose the elimination period of the disability coverage. The elimination period is the period of time you must be totally disabled before benefits become payable. 

Plan A provides an employer paid life insurance benefit equal to 1 ½ times annual salary, plus employer paid disability coverage with an elimination period of 150 days. Under this plan, employees also have the option of buying disability coverage with decreased elimination periods.

Plan B provides an employer paid life insurance benefit equal to 2 times annual salary, with no employer paid disability coverage. Employees in this plan may choose to purchase disability coverage with various elimination periods.

The premium you will pay for your Income Protection Plan varies depending on the plan and elimination period you choose, and your monthly salary. Please review your open enrollment information on employee self service for the premiums or you may calculate the premiums using the  Premium Calculation Worksheet.

Once you are enrolled in the Income Protection Plan, there are some changes you can make to your plan at any time during the year, and some changes that you can only make at open enrollment. Some of the changes you wish to make may require evidence of good health. If your change requires this, you will be contacted directly by the insurance carrier to supply evidence of good health. If your requested change is outside of the open enrollment period, you must also complete a Paper IPP Application. Please see below to learn what changes you can make at open enrollment, and what changes can be made at anytime during the year.

Changes which may only be made during Open Enrollment:

    * Increase the disability elimination period by one or more than one 30-day increment. This change does not require evidence of good health.
    * Decrease the disability elimination period by one 30-day increment. This change does not require evidence of good health.
    * Decrease the disability elimination period by more than one 30-day increment. This change does require evidence of good health.

Changes which may be made during Open Enrollment or at anytime during the year: These changes require a paper application.

    * Decrease the life insurance portion of your IPP from 2x annual salary (Plan B) to 1 ½ x (Plan A). This change does not require evidence of good health.
      
    * Increase the life insurance portion of your IPP from 1 ½ x annual salary (Plan A) to 2x annual salary (Plan B). This change does require evidence of good health.

How do I make changes to my IPP coverage?

    * Determine your current life insurance and disability elections and determine whether you wish to make a change.
      
    * During Open Enrollment, you should make your changes on-line through Employee Self-Service elections. If your requested change will require evidence of good health, SEGIP will send you the required form.
      
    * If you are making changes outside of the open enrollment period, complete a Paper IPP Application and send to Minnesota Management & Budget - SEGIP.

When do these changes become effective?


Changes made during Open Enrollment 2008 which do not require evidence of good health will become effective January 1, 2009. Changes which require evidence of good health will be effective the date your application for coverage is approved by the carrier.

What if I do not want to make any changes?

If you don’t want to change your IPP coverage for Year 2009 it is not necessary to complete the enrollment procedure described above. However, please be aware that whether or not you change your coverage, the cost of your IPP coverage may increase if your salary has increased.

How can I get more information?

Certificate of Coverage contains additional program information. For additional questions, you may contact The Hartford, administrator of our IPP program, at or (800) 752-9713. If you have questions regarding IPP Open Enrollment, please contact SEGIP representatives at 651-355-0100.

 

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