Employee Benefits 2016 - Welcome to tWrite · 2016-01-05 · visit NavientBenefits.com. Benefit....

Employee Benefits2016

www.navientbenefits.com

http://www.navientbenefits.com/

Confidential and proprietary information © 2015 Navient Solutions, Inc. All rights reserved. 2

HealthcareOptions



Medical Plans

• We offer Anthem Blue Cross and Blue Shield with their National Blue Card Program as our Medical Carrier.• Which includes three medical plans options.

• The Choice and Value plans include a Health Savings Account

Navient is proud to offer competitive benefits and to promote Wellbeing and healthcare consumerism among all employees and their families. With major provisions of the Affordable Care Act (ACA) now in effect, Navient, like many other employers, faces a challenge: continue to provide robust benefits while accounting for their financial impact on you and Navient. Therefore, we created three new medical plans that are comprehensive, flexible, and designed to meet the needs and priorities of our diverse workforce. To learn more details on these plans visit NavientBenefits.com.

Benefit Premier Plan Choice Plan w/ HSA Value Plan with HSAIn-Network In-Network In-Network

Individual Deductible $500 $1,500 (Net $1,000) $2,500 (Net $2,000)

Family Deductible $1.000 $3,000 (Net $2,000) $5,000 (Net $4,000)

HSA Company FundingFunded in January N/A $500 Employee Only

$1000 Family$500 Employee Only

$1000 Family

Office Visit Copay $25 PCP/$50 Specialist Plan pays 80% after deductible Plan pays 80% after deductible

Individual Out-of-Pocket Max $3,000 $4,000 $5,000

Family Out-of-Pocket Max $9,000 $10,000 $12,500

RX Copays/Coinsurance$10 generic/30% ($35-

$100)/40% ($50-$150)/Spec: 50% ($150-$250)

Plan pays 80% after deductible (except preventive RX, 80%

with no deductible)

Plan pays 80% after deductible (except preventive RX, 80%

with no deductible)ER (non-emergency) Copay $250 $250, after deductible $250, after deductible

Co-Insurance 90% 80% 80%

http://www.navientbenefits.com/2015OE/hsa.html

http://www.navientbenefits.com/index.html


Choice and Value HSA Plan OverviewFeature Health Savings Account

(HSA)**Compatible with? Choice and Value Plan

Who contributes? Both you and Navient

Interest/ Investment potential Earns interest or investment potential

Reimbursement method You decide when to use funds

Qualified expenses medical, dental, and vision

Portability You own the account and will take the money with you if you leave Navient

Administrator BenefitWallet

Contribution Limits 2016 contribution limits:• $3,350 Employee Only Coverage

• $6,750 Family Coverage• $1,000 Catch-up age 55 & older

** Those Employees who are on Medicare or a Veteran receiving health coverage outside the VA Health system are not permitted to participate in an HSA. However, Navient will provide you a lump sum payment in your paycheck for the Employer contribution


Choice and Value HSA Plan Overview

Employees pay this amount before the health plan begins to pay for eligible expenses that are subject to the deductible.

Navient’s Contribution

Helps employee pay for eligible out-of-pocket Medical expenses

Once the employee meets thedeductible, the health plan pays a larger percentage of eligible costswhile the employee pays a smaller percentage.


Choice and Value HSA Plan Overview

When making your plan decision, don’t forget to factor in how much you’ll be paying out of your paycheck in premiums.

Coverage Plan In-Network Deductible

HSA Funding from Navient

2016 Net Deductible

Employee Only

Choice Plan $1,500 -$500 = $1,000

Value Plan $2,500 -$500 = $2,000

Family

Choice Plan $3,000 -$1,000 = $2,000

Value Plan $5,000 -$1,000 = $4,000


Choice Plan with HSA - Hospitalization Claim Example

In-Network Coinsurance80%

Navient $500 HSA Contribution

Preventive Care100% In-Network

Annual Individual Deductible

$1,500($500 May be paid from HSA)

Employee is enrolled as Single Coverage in the Choice Plan with HSA

HSA Balance: $500 $500

Expenses related to Hospital Stay after all applicable Blue Cross network discounts are applied : $10,000

Employee's Individual Deductible $1,500

Paid from HSA $500

HSA Balance $0

Plan Pays 80% Coinsurance after Deductible : $10,000 (Hospital Bill after discounts) - $1,500 (Employee Deductible) = $8,500 BalanceBlue Cross pays 80% of the $8,500 = $6,800

$6,800

Employee Pays 20% Coinsurance after Deductible $1,700

Total out-of-pocket for the Employee is $1,500 (deductible) + $1,740 (20% coinsurance) for a total of $3,200 - $500 HSA Fund = $2,700. $2,700


It is important that you enroll in the plan that best fits your and your family’s needs; therefore, we are excited to offer a tool called AskAlex® to assist you in selecting the plan that best fits your needs. ALEX will help you learn about our medical plans and will determine the plan that makes the most sense for you based on a brief questionnaire.

There are many other resources available to assist you in making your enrollment decision; visit NavientBenefits.com to learn more and/or watch the Benefits Overview video.

We encourage you to watch these videos with your family to ensure everyone understands the benefits offered here at Navient.

Plan Selection Decision - How do I decide?

Ask Alex makes it easy to select the plan for you!

We recommend you use the tool called AskAlex® to assist you in selecting the plan that best fits you and your family.

http://www.navientbenefits.com/articles/index.html


Plan Selection Decision - How do I decide?

How do you use the plan?Do you utilize the insurance

on a regular basis?Are you aware of a potential

hospitalization in 2016

Would you rather have less deducted from your paycheck and pay more at the time of service or pay more through payroll deduction and less when you use services?

Plan Employee Premiums

Out-of-PocketExpenses

Potential to Save for Future Healthcare

CostsValue Plan with HSA $ $$$ $$

Choice Planwith HSA $$ $$ $$

Premier Plan $$$ $Don’t forget to ask AskAlex® for assistance in determining what plan is best for you and your family!


AFLAC • We are offer two programs by AFLAC, a hospital indemnity plan and an

accident plan. Both plans are voluntary and are being offered to assist our employees with financial responsibilities as the result of illness or accident. Learn more about these plans on NavientBenefits.com

Hospital Indemnity: Provides financial assistance to enhance your current coverage and assist with out-of-pocket-expenses the health plan doesn’t cover. For example: transportation and meals for family members, assistance with child care or time away for work.

Accident Plan: In the event of a covered accident, the plan pays cash benefits fast to assist with costs associated with out-of-pocket expenses and bills or expenses major medical maynot cover.


Live Health OnlineA benefit we are excited to offer is a product called “Live Health Online” with Anthem; also referred to as “Telemedicine”

What is it? Allows you to talk face-to-face with a doctor through your mobile device or a computer with a webcam. No appointments, no driving and no waitingat an urgent care center. Use LiveHealth Online for common health concerns like colds, the flu, fevers, rashes, infections, allergies and more! When applicable and allowed by state law, the doctor may even prescribe to a local pharmacy (FAQ).

Why offer this benefit?Allows employees and family members access to a physician at any time of day, providing convenient and efficient healthcare access for employees.

What is the cost?The fee is $49 per consultation; which is similar (or less than) a regular doctor visit. The Plan’s applicable cost sharing is applied (deductible, out-of-pocket) and employee pays via Visa, MasterCard and Discover.

http://www.navientbenefits.com/FormsDocs/Medical/LiveHealthOnlineFAQ.pdf


Dental Benefits – United Concordia

*Not subject to deductible; however, the amount is applied towards you Annual Benefit Maximum


Vision Benefits: Anthem


Utilize PRE-TAX dollars to pay for:• Out-of-pocket Healthcare expenses• Dependent Care expenses

Flexible Spending Accounts (FSA)

The Healthcare and Limited Use Healthcare FSA• Maximum annual election for 2016 is $2,550• You may rollover up to $500 into the next year if not utilized in 2016

The Dependent Care Account .• A Dependent Care FSA provides you with the ability to set aside money on a pre-tax

basis for day care expenses for your child or disabled parent or spouse.• maximum annual election is $5,000 and does not have a rollover featureThe Dependent Care Account may NOT be used to cover medical expenses related to your dependent!

Plan year is January 1, 2016 to December 31, 2016. • Claims must be incurred during the plan year and submitted for

reimbursement no later than March 31, 2017.


Dependent VerificationNavient verifies all enrolled dependent(s) to ensure they are eligible dependent(s).

During the verification process you will be asked to verify your dependents’ eligibility status by providing documentation; which includes but is not limited to:

Marriage licenses/certificates

Birth certificate

Page 1 of your tax return listing your dependent(s)

If you are enrolling dependent(s), ensure your dependent(s) is eligible. If you are mistakenly covering a person(s) who is not eligible, please be sure you remove that individual(s).

Examples of ineligible dependent(s) are: Your parent, dependent(s) who are over age 26, sibling, grandchild, niece/nephew, for whom you are not the legal guardian.

Navient has the right to take corrective measures if ineligible dependents are discovered.


Affordable Care Act – Marketplace Notice

On NavientBenefits.com there is a notice about the Marketplace; if you decide to price health insurance options available in your state, you will need to have a copy of this notice handy. Here are some key points to keep in mind about the Marketplace:

• If you go without health insurance a tax penalty may apply• Most Navient Employees will not qualify for a subsidy in the Marketplace• If you do not elect Navient medical coverage during Open Enrollment,

your next opportunity for coverage is in 2017• Navient’s employer cost sharing is lost if you purchase coverage through

the Marketplace• Medical premiums through the marketplace are paid on an after-tax basis.


FinancialBenefits



401(k) Savings Plan401(k) Savings

Plan Eligibility CompanyContributions Example - $30,000 Earnings

1% Core Contribution

Vested after 1 yearof service

1 Month of Service 1% of Eligible Earnings Navient Contributes 1% = $300

4% Company Matching Contribution

Immediate vesting

6 Months of Service

100% of the first 3%,

plus 50% of the next 2%

Employee contributes 3% = $900 Navient matches the 3% = $900

Employee contributes 2% more = $600Navient matches 50% = $300

Total Employee Contribution = $1,500Total Navient Core and Match = $1,500

TOTAL RETIREMENT SAVINGS AFTER ONE YEAR = $3,000Enroll today at www.401k.com or call Fidelity at 1-800-890-4015.

http://www.401k.com/


100% Company Paid Benefits

• Life Insurance• Accidental Death & Dismemberment (AD&D)• Business Travel• Short-Term & Long-Term Disability

• Non-Exempt (Hourly) Employees: eligibility begins the first of the month after 365 days of employment• Exempt (Salaried) Employees: eligibility begins the first of the month after 90 days of employment

Employee Voluntary and/or Discount Program Benefits

• Additional Life Insurance• Spouse/Domestic Partner or Dependent Life Insurance• Auto/Home Insurance

Additional Benefits


Petplan Voluntary Pet InsuranceDiscount insurance program available for “four-legged” family membersCustomize your policy

- Pick your deductible: $50, $100, $200 - Pick your reimbursement: 80%, 90%, 100%

Quotes and Enrollment - Obtain an instant quote and enroll for coverage anytime year-round via

Petplan’s website – www.petplanbenefits.com. - Navient employees will receive a 15% premium discount when enrolling

online (10% if enrolling over the phone). - To receive the premium discount, enter promotional code EBPNAV when

enrolling online. - Annual, quarterly and monthly payment options are available; payment is

made via credit card.

www.petplanbenefits.com or Call Toll Free (800)809-9200

http://www.petplanbenefits.com/

http://www.petplanbenefits.com/


Legal & Identity Theft Voluntary InsuranceLegal ServicesLegalShield provides you the power to talk to an attorney about any personal legal issue.

• Your membership allows you to seek assistance on things you may have never even thought you needed an attorney - from real estate to traffic tickets, from warranty disputes to being sued, and beyond.

Identity Theft LegalShield Identity Theft Plan provides identity monitoring and Comprehensive Identity Restoration from Kroll.

• In the unfortunate event something does happen to your identity, you’ll have professional help in getting your identity restored to what it was before the fraud occurred.

Obtain an quote and enroll for coverage anytime year-round at– www.legalshield.com/info/Navient• Legal Services = 20% premium discount• Identity Theft = 22% premium discount• Both plans = 31% premium discount

• Payment is made via credit card.

www.legalshield.com/info/Navient or Call Toll Free (800)654-7757

http://www.legalshield.com/info/Navient

http://www.legalshield.com/info/Navient


Work/Life Benefits


NavientWellbeing



Wellbeing at Navient


Wellbeing ProgramTogether with our wellbeing partner, Envolve, we provide resources and opportunities to help you live a healthier life or maintain the healthy lifestyle you already lead.

• All Navient employees are eligible to participate in the Wellbeing Program. However, you must be enrolled in a Navient medical plan to earn points toward quarterly incentives

How it Works• Register on the Achieve Wellbeing portal; this is your one-stop toward improved health. It provides tools, resources and

health-related information. • Use the portal to:

• Take the Health Assessment, which is required to earn points toward quarterly incentives.• Track your health activities (you may connect your favorite wellness device – Fitbit, Jawbone, etc. – to make

tracking even easier).• Track your wellbeing points.• Monitor your quarterly incentives.

• You may access the portal from your computer or mobile device.

• To get started, complete the Health Assessment, a short online survey about your health status and current lifestyle. NOTE: You must take this important first step to be eligible to earn points.

• Next, complete additional wellbeing activities to earn a total of 150 points each quarter. • If you have 150 points at the end of a quarter, you will receive a cash incentive equal to $150. If you don’t have

150 points at the end of a quarter, your points will roll over to the next quarter.More about Quarterly Incentives

• Quarterly incentives will be added to payroll as taxable income or if you are enrolled in the Choice or Value plans, you may elect to have the incentive deposited to your Health Savings Account (HSA) tax-free.

• If you earn 150 points, you will be sent an email and prompted to select how you would like to receive the cash incentive.

• Remember, if you don’t have 150 points at the end of a quarter, your points will roll over to the next quarter.

http://navientwellbeing.livehealthier.com/


Resources & Decisions



CastlightCastlight is a personalized healthcare dashboard available to employees enrolled in a Navient Medical plan and empowers you and your adult dependents (18 years and over) to take control of your healthcare spending.

• Castlight assists you in comparing doctors and medical services based on quality, convenience and cost. You may also:

• View personalized cost estimates based on your Navient health plan, the doctors in your network, and your deductible and coinsurance status.

• Receive recommendations about ways to save money and find high-quality care.

How It Works• It’s easy to get started with Castlight:• Activate your account on the Castlight website (click "Sign up today").• Once you’re registered, you may access your Castlight account in the following ways:

• Login to the Anthem website and click “Know Your Cost”• By phone at 1-866-970-2315, or• On your smartphone (download Castlight Mobile from the Android Marketplace or

Apple App Store)

For more details, review the Castlight FAQs located on NavientBenefits.com

http://www.mycastlight.com/navient

http://anthem.com/

http://www.navientbenefits.com/faqs/castlight.html



Employee Stock Option Plan (ESPP)Be more than a member of Team Navient…own a share! The Employee Stock Purchase Plan (ESPP) allows you to share in the company’s success by purchasing shares of Navient stock at a 15% discount.

• The ESPP may help you save for retirement. Here are some additional advantages of participating: • You may purchase Navient stock at a discount and acquire ownership in the company.• Once your shares are purchased, you may sell them at any time, subject to any trading

restrictions.• Contributions are made automatically through payroll deductions, just like the Navient 401(k) Plan.• Your ESPP savings are more accessible than other retirement plans.

New Hires• If you are hired after the enrollment period and/ or before January 1st, you will receive an enrollment

email approximately a month after your hire date. You must set up a user ID and password on the ESPP Portal.

• To learn how, review the ESPP Step-by-Step Enrollment Guide For New Enrollees.

Eligibility• If you are a full-time or part-time employee who works more than 24 hours per week, you are eligible to

participate in the ESPP. New hires who meet the eligibility requirements may enroll for the current plan year if they are hired on or before January 1st. For example, an eligible employee must be hired on or before January 1, 2017 to participate in the plan year that runs from August 1, 2016 to July 31, 2017. If you are hired after January 1, 2017, you must wait until the next enrollment period (July 2017) to sign up.

https://navient.globalsharesequity.com/

http://www.navientbenefits.com/FormsDocs/Financial/ESPP_StepbyStepEnrollment-FirstTime.pdf


Steps to take Step 1 – Review the New Hire page on NavientBenefits.com for further

information

Step 2 – Enroll Through Workday – review “To Do List” Change personal informationConfidentiality & Non-Solicitation AgreementCode of Business Conduct AttestationNon-Harassment PolicyNotice of Privacy PracticesEmployee Reference Manual AttestationCorporate Security PolicyTelephone Access Consent

Step 3 - New Hire Benefit Enrollment within Workday

Step 4 - 401(k) Savings Plan – A welcome kit will be mailed directly to your home from Fidelity

If you have trouble logging in to Workday, please contact the Solution Center 1.800.441.4005

http://www.navientbenefits.com/

https://www.myworkday.com/navient/login.htmld


Benefits Salary Tiers and Coverage Levels• Salary Tiers for Medical and Dental Coverage – Base Annual Rate as of 10/1

- Under $30,000- $30,000 - $50,000- $50,000 - $100,000- Over $100,000- Part-time

• Medical, Dental and Vision Coverage Level- Employee Only- Employee + Child(ren)- Employee + Spouse- Family


Working Spouse Surcharge

Coverage specifically for spouses who are working elsewhere ANDwho have access to medical coverage elsewhere will be charged an additional $45 per pay period if they are enrolled on the Navient Medical Plan.

We encourage you to take a moment during this open enrollmentseason to evaluate covering your spouse via the medical plan offered by the spouse’s employer, instead of Navient’s plan.

NOTE: The $45 surcharge for spouse coverage ONLY applies to the MEDICAL PLAN and isnot applicable if the spouse is not working.

Impacted employees are encouraged to review theFAQ on NavientBenefits.

http://www.navientbenefits.com/faqs.html


Tobacco Surcharge

Tobacco usage impacts an individual’s long-term health; therefore, Navient will implement a per pay period surcharge of $25 for tobacco users who enroll in our medical plans.

As a reminder, we offer you and your family members the opportunity to participate in a tobacco cessation program through our EAP provider ComPsych. Call 844-209-1085 to learn more about the program.

NOTE: The $25 surcharge for tobacco usage ONLY applies to the MEDICAL PLAN.

Impacted employees are encouraged to review theFAQ on NavientBenefits.

http://www.navientbenefits.com/Wellbeing/physical.html


2016 Bi-Weekly Medical Plan Rates

**When Applicable - $45 Spouse Surcharge will be added to Employee & Spouse or Family Tiers

Salary Tier - <$30,000

When Applicable - $25 Tobacco Surcharge will be added to any coverage level


2016 Bi-Weekly Medical Plan RatesSalary Tier - $30,001 - $50,000




2016 Bi-Weekly Medical Plan RatesSalary Tier - $50,001 - $100,000




2016 Bi-Weekly Medical Plan RatesSalary Tier - >$100,000 & Part Time




Making Changes to Your BenefitsYou may not change your enrollment until the next Open Enrollment unless you have an IRS approved life event.

• Qualifying Life Events- Child’s birth, adoption, placement for adoption, or legal guardianship- Dependent child loses eligibility- Marriage, Divorce, annulment, legal separation- Eligible for Medicaid or Medicare- Spouse gains/loses coverage through his/her employer- Loss of other coverage

Remember: 31 days for Qualifying Events!Make changes through Workday

Must submit proper documentation


Questions???• Navientbenefits.com

• Human Resources Services Center

- 1-800-441-4063

Option 1 – Benefits

Option 2 – Employment Verifications

Option 3 – Employee Relations

- 9 am – 6 pm Eastern, Monday – Friday

- [email protected] or [email protected]

• Fidelity Investments - www.401k.com

- 1-800-890-4015


mailto:[email protected]

mailto:[email protected]


Don’t forgetComplete New Hire Elections in

Workday within 31 days

If enrolling in the Choice or Value

with HSA Plan

Establish an HSA through BenefitWallet


We hope you’ve enjoyed this brief presentation and have learned a little

more about your benefit choices.

https://hsamember.com/HSA/advantagedirect?hpp=015


Important InformationThis presentation provides highlights of The Navient Employees Comprehensive Welfare Benefits Plan, The Navient 401(k) Savings Plan and other Plans as discussed. A complete description of each benefit plan may be found in the plan document, Summary Plan Descriptions and contracts. While every effort has been made to provide an accurate summary of the plans, the information contained in this presentation does not replace or change the meaning of any Navient employer sponsored benefit(s) plan documents, SPDs and contracts; the plan documents and contracts are controlling in the event of any discrepancy. Navient reserves the right to terminate or amend these employer-sponsored plans at any time, in whole or in part, for any reason. Any such amendment or termination may apply to current and future participants, covered spouses, beneficiaries and dependents.

Posted January 2016

Employee Benefits 2016 - Welcome to tWrite · 2016-01-05 · visit NavientBenefits.com. Benefit....

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