2015 Benefits Open Enrollment Nov 1 – Dec 1, 2014 Becky Goins, Human Resources 11-5-2015 Benefit Options for 2015 First, what benefits do I have now? Log into Employee Self Service (ESS). Link is on HR home page and “Inside UAMS” intranet. Select Benefits and Payment 2 ways to look at your benefits... Benefit Options for 2015 What benefits do I have now? Benefits Participation Overview shows the benefits you have today. Or change date to see past or future benefits. Click on each benefit one at a time (Dental is usually on top), then scroll to bottom and click Show Participation Details. UAMS Benefits Statement shows all benefits, including ones you don’t have. Use this one so you know what to do during open enrollment. You can print this year. Check out “total compensation” info on 2nd page. For those without computer access, your department SAP person or Human Resources can run print it for you (transaction ZHRESSBENSTMT). Benefit Options for 2015 Open Enrollment Guide Now that you know what benefits you currently have, find out what options you have for 2015. Guides mailed to all benefit-eligible employees via campus mail Also posted on web Benefit Options for 2015 What’s new? First time we’ve offered OPEN ENROLLMENT for all our group insurances: - Medical - Optional Life - Vision - Dependent Life - Dental - Optional LTD - FSAs Rate changes Minor benefit changes Benefit Options for 2015 Check your dependents Amnesty window through Dec 1 to drop ineligible dependents Who can be covered? – – Lawful spouse as defined by State of Ark. Children younger than age 26 Medical coverage for you and your dependents will be reported to the IRS starting in 2015 Benefit Options for 2015 Medical insurance What’s new for 2015? ~ 3% premium increase – – Not passed on to employees Department will assume increase, ranging from $9.78 (employee only) to $34.84 (family) Addition of $25 copay for outpatient therapy (e.g., PT, OT, speech) and $100 copay for advanced imaging (e.g., MRI, cat scan) Benefit Options for 2015 Medical insurance What’s new for 2015? Prescription copays increase by $5 - $10 – – – Tier 1 (mostly generic)… from $10 to $15 Tier 2 (preferred)… from $35 to $40 Tier 3 (non-preferred)… from $70 to $80 New max out of pocket you’ll pay for prescribed medications… $1600 individual, $3200 family. Benefit Options for 2015 Medical insurance What’s new for 2014? Higher out of pocket max on med claims If you did the 2 wellness steps (Aug 1-Oct 17), it will be $2850, reduced by $500 to $2350 if you get all your care through SmartCare. x If you did NOT complete the wellness program, it will be $4750, reduced by $500 to $4250 through SmartCare. These are individual OOP maxes. Family max is double. Benefit Options for 2015 Don’t forget about… UAMS SmartCare is an incentive for you to come to a UAMS facility for your healthcare Applies to UAMS employees and family covered under our medical plan Automatically reduces what you pay out of your pocket after insurance pays Benefit Options for 2015 What is your copay for doctor office visit? If you go in-network SmartCare Savings Primary care physician (PCP) $25 $10 $15 Specialist $45 $30 $15 Annual eye exam $25 $10 $15 Outpatient mental health visits $25 $10 $15 (preauth required) Benefit Options for 2015 What is your cost for outpatient procedure? (outpatient surgery, diagnostic testing, MRI, OT, PT) If you go in-network* Deductible Coinsurance SmartCare Savings $ 750 $ 250 + $150 copay for outpatient surgery no copay for outpatient surgery 20% after deductible 20% after deductible Depends Depends $ 500 - $650 Out of pocket max (2015 change) $500 Benefit Options for 2015 What is your cost for hospital stay? If you go in-network SmartCare Savings Hospital Admission Copay $ 250 $ 150 $ 100 Deductible $ 750 $ 250 $ 500 20% after deductible 20% after deductible Depends Depends Coinsurance Out of pocket max $500 Benefit Options for 2015 What is your cost to have a baby? If you go in-network Prenatal office visits $ Hospital Admission Copay Deductible Coinsurance Out of pocket max 0 SmartCare Savings $ 0 $ 0 $ 250 $ 150 $ 100 $ 750 $ 250 $ 500 20% after deductible 20% after deductible Depends Depends $500 Reduce your cost by $300 by enrolling in UMR Maternity Management program in your first trimester. Benefit Options for 2015 How can I facilitate your UAMS SmartCare appointment? Email your request to: [email protected] “Smart Care Appointments” under Global Or call Employee SmartCare Concierge (501) 686-8749 This is a dedicated number just for UAMS employees. Benefit Options for 2015 Medical insurance What you need to do No action required if you don’t have changes Changes you can make: – – – Enroll as a new member Add eligible family members Drop dependents or drop all coverage TIP: first make sure other coverage is in place – Change between Classic and Point of Service Send forms to Human Resources by Dec 1 Changes take effect 1-1-2015. Forms available at Open Enrollment website and in our office on main campus and at ACH. Benefit Options for 2015 Dental insurance What’s new for 2015? Small rate increase – Employee additional monthly cost ranges from $0.91 employee only to $2.60 family No changes in benefits Remember that twice a year* check-ups and cleanings are covered in full. Have you made your appointment? * Those with diabetes or heart disease, are pregnant, or have a history of periodontal disease may be eligible for up to 4 cleanings a year. Benefit Options for 2015 Dental insurance What you need to do No action required if you don’t have changes Changes you can make: – – – Enroll as a new member Add eligible family members (especially children age 2-3) Drop dependents or all coverage Send forms to Human Resources by Dec 1 Changes take effect 1-1-2015. Benefit Options for 2015 Vision plan What’s new? Slight rate decrease… 24 to 70 cents less @ month Still have two plans to pick from: Basic or Enhanced Details about the two plans on our website and in Open Enrollment Guide If you have a vision impairment, this plan helps lower your costs for frames, lenses and contacts Best benefit if you go to a provider in the Superior Vision network. UAMS Jones Eye Clinic is in the network. Eye exam will be filed under medical (same $10 copay under UAMS SmartCare as it would be under Superior Vision) Benefit Options for 2015 Vision plan What you need to do No action required if you don’t have changes Changes you can make: – – – – Enroll as a new member Add eligible family members Drop dependents or all coverage Change between Basic and Enhanced plans Send forms to Human Resources by Dec 1 Changes take effect 1-1-2015. Forms available on our website and in our office. TIP: plan your 2015 healthcare FSA accordingly in regards to eyeglasses and contacts Benefit Options for 2015 Section 125 Premium Conversion What you need to do Already pre-taxing your Medical/Dental/Vision premiums now and you want to keep it that way? Will continue. If you want to change to have your premiums deducted on a pre-tax basis, complete the premium conversion form by Dec 1 Or vice versa --you want to change from pre-tax to post-tax – fill out the same form by Dec 1 Changes take effect first paycheck of 2015 FYI, most employees elect to pre-tax their premiums to reduce their taxes. Risk is that you’re locked into that deduction and coverage for the calendar year unless you’re within 30 days of a qualifying event. Benefit Options for 2015 What changes can I make during the plan year? Limited Must be within 1 month (31 days max) of a qualifying work/life event, such as: – – – Marriage - Birth of child Divorce - Death Spouse job change which affects eligibility Check out our website for life event checklists or contact our office Benefit Options for 2015 Flexible Spending Accounts What’s new? $500 carryover replaces grace period Affects your 2015 FSA balance as of 4-1-2016 Maximum you can put into health care FSA remains $2500, $5000 for dependent care/daycare (reduced to $2500 if you file married/separate) Keep your UMR Benny Card if you’re re-enrolling in a health care FSA for 2015. It will be reloaded with your new elected amount. Benefit Options for 2015 Flexible Spending Accounts What you need to do Consider if you (+ spouse + kids you claim as tax dependents) will have at least $120 out-of-pocket medical costs in 2015 to do a health care FSA. Consider putting in $500 since it will carryover. Consider if you will have daycare costs in 2015 to do a dependent care FSA If you’ve never participated in an FSA before or need a refresher, view “How FSA’s Work” on our website Once you’re comfortable with the FSA claim process, enroll on-line via Employee Self Service by Dec 1 Current participants: be sure to re-enroll if you want to participate next year. Benefit Options for 2015 Flexible Spending Accounts Deadlines Claims for this year’s 2014 account – OK to incur 2014 FSA expenses past December 31, but no later than March 15. This is extra 75-day “grace period” to spend down your old year money. Pay out of your pocket and then file manual claim to UMR to be reimbursed. Last year for the grace period. – Or swipe your Benny Card through March 15 to spend down your 2014 healthcare FSA – March 31, 2015 remains the absolute deadline to file claims to UMR on your 2014 FSA money. Any money remaining on 4-1-2015 is forfeited. Benefit Options for 2015 Life insurance What’s new? Carrier changes from Unum to The Standard Insurance Company Basic Life premium reduces by half. Maximum department cost (for $50,000 coverage) goes from $13 to $6.50 @ month. Rate for buy-up option, Optional Life, decreases by ~ 25%. Also open enrollment for up to 3x salary in coverage. Benefit Options for 2015 Life insurance What’s new? Open enrollment for Dependent Life. Rates and benefits remain same. Up to $20,000 coverage on spouse, $10,000 on children. No change to Accidental Death & Dismemberment (AD&D) insurance. You can add or change this benefit at any time. TIP: sign up for maximum coverage the month before you take a trip. Benefit Options for 2015 Life insurances What you need to do No action required if you don’t have changes Changes you can make: – – – Buy-up life insurance on yourself up to 3x salary without health screening (EOI for 4x) Enroll in or change life insurance coverage on your spouse and children Drop or reduce coverage (at any time of the year, effective end of the month) Send forms to Human Resources by Dec 1 Changes take effect 1-1-2015. Forms available on our website and in our office. Benefit Options for 2015 Beneficiary up to date? Update your life insurance beneficiary in Human Resources. Form is on our website. Update retirement beneficiary directly with your plan sponsor: TIAA-CREF, Fidelity, APERS Benefit Options for 2015 Disability Insurance What’s new? Current Long Term Disability (LTD) carrier changes from Unum to The Standard Insurance Company 60% salary replacement benefit remains same Short Term Disability may be added mid-year 2015. Benefit Options for 2015 Disability Insurance What’s new? Reduced rates – Basic LTD (paid by dept on first $20,000 salary) reduces from $4.66 to $3.00 per month – Basic FGP LTD (first $100,000 of salary paid by dept) reduces from to $52.78 to $18.33 (2/3 decrease) – Optional LTD (employee pays coverage for salary over $20,000 and up to $100,000) reduces from $38.67 to $31.33 per month max. Benefit Options for 2015 Long Term Disability What you need to do No action required if you don’t have changes Changes you can make: – – Buy-up disability coverage on yourself by enrolling in Optional LTD Drop or reduce coverage (at any time of the year, effective end of the month) Send forms to Human Resources by Dec 1 Changes take effect 1-1-2015. Forms available on our website and in our office. Benefit Options for 2015 What about the voluntary insurances? You can contact the carrier directly to apply for coverage: – – – Liberty Mutual (home/auto) CNA (long term care) MetLife (critical illness) MetLife is holding open enrollment for $10,000 and $20,000 policies. Benefit Options for 2015 What about UA retirement plan? You can change how much you contribute at any time. Details and forms are on our web site. UAMS matches up to 10%. Try to do 10% so you enjoy the full match. Don’t pass up free money! You can change your investments or beneficiaries at any time. Contact TIAA-CREF or Fidelity. Have you considered the Roth option? Make after-tax contributions now, then qualified distribution later would be tax-free, including the earnings. More info on our web site. Benefit Options for 2015 Other retirement changes? IRS limits on your contributions for 2015: • Tax-deferred limit increases from $17,500 to $18,000 Even though Roth contributions are post-tax, they count towards your tax-deferred limit. • X 2 = $36,000 because we have both 403(b) and 457(b) plans • Add in $6,000 (x 2) if age 50 or older by Dec 31 Age catch-up increased from $5,500 • Means if you are age 50+, you could tax defer up to $48,000 Benefit Options for 2015 Other retirement changes? UAMS employer contribution • Remains 5% minimum, 10% maximum • “Comp Limit” increases from $260,000 to $265,000 • Max department cost increases from $26,000 to $26,500 Benefit Options for 2015 Where to get forms, ask questions Employee Benefits Fair – – Human Resources – Employee Services – – – Wed, Nov 19, 9am to 3pm, ground floor Ed 2 ACH employees go to Childrens Hall on Thurs, Nov 20 for fair conducted by the Peds Dept 4th floor Central Building, C wing (501) 686-5650 or [email protected] ACH employees: visit the UAMS Pediatrics Office in the Sturgis Building, 4th floor, Suite 4175 Visit our special Open Enrollment website. Link found on our HR web site, hr.uams.edu. Benefit Options for 2015 December 1, 2014 is the deadline !!! Please mark this date on your calendar Human Resources must receive your forms by close of business on Monday, December 1. Or if you are enrolling in an FSA, this is the last day you can enroll online. Sorry, we can’t accept any forms or late enrollment appeals after this date. Benefit Options for 2015 And lastly… Try to turn in your enrollment forms as early as possible, before the Thanksgiving holiday. – – If you fax your form, be sure to keep your original copy and fax confirmation as proof If you email your form, keep the original and read receipt Did you know that if you log into Employee Self Service, change the Benefits Participation date to 01-01-2015, you can confirm we have processed your benefit changes?