It is the policy of the University to provide an opportunity for participation in the Uniform Group Insurance Program, TexFlex and the Long Term Care Plan to all insurance eligible faculty, staff and graduate students; to cover each insurance eligible regular faculty and staff member under employee only basic health and term life unless a waiver is signed; and, to contribute each month a premium amount set by state law toward the cost (premium) of each insurance eligible employee's basic health and life coverage, in accordance with Texas Insurance Code, Chapter 1551, Texas Employees Group Benefits Act, as amended, (House Bill No 2, Seventy-second Legislature of Texas, 1991) and the rules and regulations under the Uniform Group Insurance Program administered by the Employees Retirement System of Texas.