PowerPoint slide summary of benefit options

Report
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?

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