2015 Open Enrollment Meetings - schreiner.edu · 2015 Open Enrollment Meetings Health, ... •...
Transcript of 2015 Open Enrollment Meetings - schreiner.edu · 2015 Open Enrollment Meetings Health, ... •...
2015 Open Enrollment
Meetings
Health, Dental, Flexible Spending,
Voluntary Life Insurance, Ancillary Benefits
April 2015
Agenda
• Campus Clinic
• Medical Plans
• Dental Plan
• Flexible Spending/ Health Savings Accounts
• Health Care Reform Update
• Vision Benefit
• Life, AD&D, and LTD
• Voluntary Life
• New Enrollment Tool for Next Year
• Retirement Benefits
• Legal Shield
• AFLAC Products
• ADP iPay
• United Way
• Q&A
Campus Clinic
• 1st Annual Employee Benefits Survey – distributed November, 2014 -
57% Participation Rate
• Question regarding Campus Clinic - 85.3% Yes
• Peterson Medical Associates
• On-site clinic serving Students, Faculty, Staff and SU Families
• Beginning August 1, 2015
• Office Hours: 8:00am – 5:00pm, Monday-Friday
Campus Clinic • Convenient Care
• On-site testing for minor illness
• Wellness component
• Accepting Medicare
• Discounted Cash Pricing (non-insured)
• Collaboration with Primary Care Providers
• Immediate care for Workers’ Comp Injuries
• Peterson Urgent Care: After hours urgent care
coming soon!
Open Enrollment
• Open Enrollment starts on April 8, 2015 and ends on
May 15, 2015
• Any changes to health, dental, vision, etc. need to
be submitted prior to the end of the open
enrollment period.
Medical Plans PLAN PROVISIONS 70/30 Consumer Plan HDHP 2600
Co-pay No No
1st dollar coverage Employee Employee
Deductible Yes; low Yes; high limit set by IRS
Flexible Spending Account Yes No
Health Savings Account No Yes
Network In Network In Network
PLAN DESIGN
Physician Visit 30% after deductible 10% after deductible
Deductible
Individual $500 $2,600
Family $1,000 $5,200
Hospitalization 30% after deductible 10% after deductible
Preventive Care Schreiner pays 100% Schreiner pays 100%
Emergency Room 30% after deductible 10% after deductible
Out-of-Pocket Max –including deductible
Individual $5,000 $5,000
Family $12,500 $10,000
Prescription Drugs
Retail / Mail Order 1-3 months/3 months 1-3 months/3 months
Generic 30% after deductible 10% after deductible
Preferred 30% after deductible 10% after deductible
Non-Preferred 30% after deductible 10% after deductible
Medical Plans
4-Tier Pricing 70/30 HDHP 2600
Employee Only $141.70 / month $132.00 / month
Employee + Spouse $283.40 / month $261.60 / month
Employee +Child(ren) $269.24/ month $247.44 / month
Employee + Family $425.10/ month $392.40 / month
Dental Plan
• There will be no changes to dental benefits.
• You can go to any dental provider, no network.
• Deductibles and out of pocket maximums will restart June 1, 2015.
• You will have one ID card for Medical, Prescription, and Dental.
• You may enroll in Dental coverage without enrolling in Medical coverage.
Dental Plan Pricing 4-Tier Pricing Total Premium Employee Contribution
Employee Only $28.72 / month $13.72 / month
Employee + Spouse $55.40 / month $40.40 / month
Employee +Child(ren) $65.24 / month $50.24 / month
Employee + Family $100.14 / month $85.14 / month
Changes to coverage pricing only; Schreiner will continue to underwrite $15.00 per month
per enrolled employee; no changes to plan provisions
Flexible Spending Account
• The maximum pledge amount increases to $2,550 for a Health Flexible
Spending Account (FSA) and $5,000 for dependent care FSA. The plan
year will be from June 1, 2015 – May 31, 2016.
• Carryover of $500 will be allowed for use in to the next plan year. Use-it-or-
lose-it for any remaining balance exceeding $500 at the end of the Plan
year.
• Please see Human Resources to complete your flex election form by May
15, 2015.
• Flexible Spending Accounts are a great way to pay for anticipated medical
expenses with Pre-Tax dollars.
• Check your balances online at https://www.wealthcareadmin.com/Participants/login.aspx
•
Health Savings Account
• The annual maximum contribution has increased to $3,350 for a Health
Savings Account (HSA) for an individual and $6,650 for a family.
• $1,000 HSA Catch-up contribution – Age 55 or older
• If you are currently enrolled, you do not need to do anything at this time,
unless you want to increase your monthly contribution.
• Reminder: You can change your HSA contribution at anytime by notifying
payroll of the increase or decrease, but always keep in mind the annual
maximum
• Your HSA Account is a great way to save for future medical expenses with
Pre-Tax dollars.
Healthgram Member Portal • www.healthgram.com
• Click on “Account Login” and “Members”
• Login with username and password, or click “Need to Register?”
Healthgram Member Portal
Health Plan Tab
• Across the top tab
menu, access to
eligibility, claims,
prescriptions,
deductibles, accounts,
and other documents
are available.
Healthgram Member Portal Health Record Tab
• Your Personal Health
Record securely houses
and organizes all medical
and Rx information so that
your health is truly in your
hands.
• Your most recent lab results
are provided with red,
yellow, and green light
indicators to show your risk
level
• Prevention Care shown at
the bottom right of the page
indicates preventive
services that are complete
or incomplete.
Healthgram Member Portal
Resources Tab
• The resources tab gives
you access to our
comprehensive health
library where you’ll find
articles about common
health conditions to help
you get and stay well.
Health Care Reform Update Employer Mandate
• Requirements and regulations for employers with 100 or more full-
time employees:
o Adequacy – must offer one plan with an actuarial value of at least 60%
o Affordability – premiums for employee only coverage for the lowest cost
adequate plan must not exceed 9.5% of family income
o Excise (Cadillac) Tax in 2018 – employer tax on health plan costs that exceed
at certain threshold in 2018
• Lots of uncertainty regarding this rule now that there is a new congress
and there will be a new President prior to going into effect
o Plan Design Provisions – requirements that plans adopt various provisions
• Schreiner University continues to be compliant in all areas
Health Care Reform Update Individual Mandate
• Still in effect for 2015
• Effective January 1, 2014, each individual must have
minimum essential coverage, or
o Qualify for an exemption
o Make a payment when filing federal income tax return
• Applies to individuals of all ages, including children
Health Care Reform Update
The penalty for not obtaining coverage will be phased in over a 3-
year period, and is the greater of two amounts
o2014 – $95 or 1% of income
o2015 - $325 or 2% of income
o2016 - $695 or 3% of income
18
Vision
• Effective June 1, 2015 new partnership with EyeMed, Insight
• Enhanced benefits including:
• Exams - $10.00 Copay
• Frame Allowance - $150.00, 20% of remaining balance
• Lenses – Single – Bifocal – Trifocal – $25.00 Copay
• Contact Lenses - $150.00 allowance
• Progressive Lenses Copay per fixed price list
• Expanded Network – LensCrafters, Target, JCPenney Vision,
Vision Plan Pricing
4-Tier Pricing
Previous Employee
Contribution
New Employee
Contribution
Employee Only $ 6.04/ month $ 5.94/ month
Employee + Spouse $ 12.08/ month $ 11.98/ month
Employee +Child(ren) $ 11.09/ month $ 11.04/ month
Employee + Family $ 18.04/ month $ 17.94/ month
Basic Life and AD&D
• Coverage provided by Principal Financial Group
• Current Benefits Include:
o Basic Life and Accidental Death and Dismemberment (AD&D) insurance is a plan that is 100% Employer paid. The plan covers eligible employees for One times your basic annual earnings to a maximum of $100,000 with a minimum of $25,000.
o Upon termination of employment, life insurance is portable, or can be converted to an individual policy.
Long Term Disability
• 60% of your monthly earnings to a maximum of $7,000 per month
• Minimum is the greater of $100 or 10% of monthly income loss
• 2 Year Own Occupation with Any Occupation after that
• Elimination Period is 90 days
• Benefit Duration to Social Security Normal Retirement Age
Voluntary Life Coverage • Coverage provided by Principal Financial Group • Current Benefits Include:
o Employee coverage - includes $10,000 increments to a maximum
of $500,000, not to exceed 5 times annual earnings.
o Spouse coverage - includes $5,000 increments up to a maximum
of $100,000.
o Employee must enroll in supplemental life and have 50% more
coverage to allow dependents to be eligible for coverage.
o Child coverage - $5,000 or $10,000 • Child coverage starts on day 1 and ends at age 26.
Voluntary Life Coverage • During Annual Enrollment – you now have the opportunity to update or
increase Voluntary Life coverage for you and your dependents.
• Employees and Spouses are allowed a 1 increment increase without
medical evidence as long as it does not exceed the guaranteed issue
amount.
• Any increases over 1 increment or over the guaranteed issue amount will
require medical evidence.
• Guaranteed Issue Amounts at time of employment are:
o $200,000 for Employee
o $50,000 for Spouse
o $10,000 for Children
• Upon termination of employment, Voluntary life insurance may either be
converted or ported to an individual policy.
Voluntary Life Coverage Rates • Supplemental Life Rates
Employee & Spouse
<25 $0.590/$1,000 50-54 $0.280/$1,000
25-29 $0.590/$1,000 55-59 $0.489/$1,000
30-34 $0.590/$1,000 60-64 $0.681/$1,000
35-39 $0.840/$1,000 65-69 $1.270/$1,000
40-44 $0.117/$1,000 70-74 $2.068/$1,000
45-49 $0.174/$1,000 75> $2.068/$1,000
Child: $0.19/ Per $1,000 Unit
New Enrollment Tool • Open enrollment for this year will proceed as it did
last year.
• Any changes after June 1, 2015 (new hires,
qualifying events, etc) will be made via a new
benefit platform
• My Benefit Basket o Single website to log into and make changes/enroll in coverage
o Decision support tool will customize suggested plan options for
each individual
o Cost transparency both in terms of premiums and out-of-pocket
expenses
Retirement Benefits • Schreiner University offers 403(b) retirement plan options through
TIAA-CREF and Lincoln Financial.
• Employees are eligible for the employer match of 6% after first year
anniversary, only if the employee is contributing a minimum of 4%.
• Employees are vested immediately.
• The employee may contribute from first date of employment.
• Employees may begin, change, or stop contributions at any time.
• TIAA-Cref enrollment is all online.
• Lincoln Financial enrollment is paper form with online access.
• IRS limitations for 2015 - $18,000 plus an additional $6,000 catch-up
for participants age 50 and older.
43 Years providing Financial Services to the Texas Hill Country
23 years providing Lincoln 403(b) benefits to Schreiner University
Three Financial Advisors to assist you
Easily Accessible
Retirement savings made easy
625 Sidney Baker St. Kerrville, Texas 78028
As of 12/31/2014
Organized in 1905
Total years providing 403(b) Retirement Services: 47
Total years providing Deferred Contribution Plans: 65
Total years providing Retirement Services for Schreiner University: 23
Financial Ratings: A.M. Best – A+ ; Fitch - A+ ; Moodys – A1
Products
• Short-term Disability
• Accident Coverage
• Cancer Coverage
• Critical Care and Recovery (Heart Attack/Stroke)
• Hospital Advantage
• Contact Human Resource Services for product and pricing info
ADP – iPay • Coming this summer – paperless paychecks!
• Quick, Easy and Secure Online Access to Payroll
Information by using ADP’S secure Web site.
• Available 24/7.
• Internet access and a Web browser is all that is
needed to access current and historical payroll
information.
• View, save & print images of paychecks and W-2’s.
• View paystubs up to 24 hours prior to pay date.
• Access payroll history.
KERR COUNTY
UNITED WAY
Serves the people of Kerr
County by reaching out
to those in need.
Improves lives through
the caring power of
communities to advance
the common good.
Your donation helps friends & neighbors
through these agencies:
• American Red Cross
• Any Baby Can
• Art2Heart
• Big Brothers Big Sisters
• Boy Scouts of America
• Christian Assistance Ministry
• Christian Men’s Job Corps
• Christian Women’s Job Corps
• Dietert Center
• Families & Literacy, Inc.
• Girl Scouts of Southwest Texas
• Hill Country Arts Foundation
• Hill Country CARES
• Hill Country CASA
• Kerr County 4-H
• Kerr County Child Services
Board
• K-Star
• Kerrville Citizen Police
Academy
• Kerr County Mental Health
Center Advisory Board
• Kerr County YMCA
• New Hope Counseling Center
• The Pregnancy Resource Center
• The Salvation Army
Because of you, we can:
• feed the hungry,
• teach someone to read,
• provide clothing,
• provide shelter,
• provide dental care,
• teach life skills,
• provide low cost child care,
• meet critical needs of abused/neglected children,
• help the elderly.
Every dollar
counts.
GIVE – ADVOCATE - VOLUNTEER