The Group Insurance Board has extended the Income Continuation Insurance (ICI) Program premium holiday for 2024, based on the strong financial position of the local ICI plan. This means that employers and employees will not pay premiums for ICI coverage.
Employers must still submit an ICI monthly premium report so that enrollment data is captured.
| ICI | Completion Date | Effective Date | Report Date |
|---|---|---|---|
| Annual Premium Update | March | April 1 | April report due April 24, 2024 |
Report due dates are the 24th of the month. When the 24th falls on a weekend or holiday, the due date is the next business day.
Changes to ICI Coverage Levels, Premium Structure in 2024
Effective February 1, 2024, the ICI Program will consolidate its standard and supplemental coverage levels into a single level of coverage for earnings up to $120,000.
This change means:
- There will be only one level of coverage, with no option for supplemental coverage.
- ETF will no longer use the terms “standard” and “supplemental” to describe coverage.
- In the future when the current premium holiday ends, employers will pay contributions for insured employees’ annual earnings up to the $120,000 limit.
Reporting Instructions
Although no premiums are due for 2024 coverage, it will still be necessary to submit the monthly premium report to report covered individuals.
Log into myETF Benefits (MEBS) through the ETF website:
- From the ETF homepage, hover your mouse over Employers and select Insurance Programs from the dropdown menu
- Click on the myETF Benefits Administrator button
- Follow the onscreen instructions for logging in
- Once myETF Benefits loads, hover your mouse over to the Disability dropdown tab (see graphic below)
- Select ICI from the dropdown menu
The initial screen prompts you to complete the contract counts (i.e. number of employees), total premium, and employee-paid portions categorized by regular and supplemental ICI. Total and employee-paid premiums will be zero. Since there will no longer be a supplemental coverage level as of February 1, 2024, you will need to key a single zero in the Supplemental ICI Contracts field.
Employers who have not registered for online reporting for ICI must complete the Online Access Security Agreement (ET-8928) and check the box for “ICI Premium Payment.”
For more information about obtaining MEBS access and logging in, see the Employer Training page of the ETF website.