Transcript Presented by Jeanne Nicholson

Employee Benefits
Renewal Presentation
2014 Plan Year
PRESENTED BY ERIN DEVINE OF CBG BENEFITS
Open Enrollment Changes
• Introduction to Health Savings Accounts (HSA)
• Choice of Three Medical Plans
• HMO Blue NE $1,000/$2,000 Deductible
• HMO HSA Access Blue $1,500/$3,000 Deductible
• PPO HSA $1,500/$3,000 Deductible
• Flexible Spending
• Dental Plan will change to Blue Cross Blue Shield
CBG Benefits | Copyright 2013
Traditional Plan vs. HSA Plan
Monthly
Payment
Insurance
Premium
Employee’s
Spending
Account
Insurance
Premium
Traditional Plan
CBG Benefits | Copyright 2013
HSA-Based Plan
This is used for
regular medical
expenses and
employees keep
what they don’t
spend
HSA Eligibility
HSA Compatible Health Plan Requirements:
• High-deductible medical plan
• Full family or “collective deductible” deductible must be met
before the plan pays benefits to any member
• All Rx is subject to the plan deductible
Employees must:
• Be enrolled in only a qualified health plan on the first
day of any month for which eligibility is claimed
• Not be enrolled in Medicare
• Not be claimed as a dependent on someone else’s tax
return
• Not be enrolled in a standard FSA (including spouse)
CBG Benefits | Copyright 2013
HMO Blue NE $1,000
Deductible
HMO HSA Access Blue
$1,500 Deductible
PPO HSA $1,500
Deductible
$1,000/$2,000
$1,500/$3,000
$1,500/$3,000
Plan Year: Deductible tracked per
individual; no member can incur more
than the individual deductible
Plan Year: Deductible tracked per
family; full family deductible must be
met before plan provides benefits
Plan Year: Deductible tracked per
family; full family deductible must be
met before plan provides benefits
In-Network Only
In-Network Only
In-Network
(Out of Network not shown)
Covered in full
Covered in full
Covered in full
Physician Office Visit
$20 copay (primary care physician)
Covered in full after deductible
Covered in full after deductible
Specialist Office Visit
$35 copay
Covered in full after deductible
Covered in full after deductible
Chiropractic Office Visit
$35 copay
Covered in full after deductible
Covered in full after deductible
PT,OT, Speech Office Visit
$35 copay after deductible
Covered in full after deductible
Covered in full after deductible
Mental Health Office Visit
$20 copay
Covered in full after deductible
Covered in full after deductible
Covered in full after deductible
Covered in full after deductible
Covered in full after deductible
$150 copay
$150 copay after deductible
Covered in full after deductible
Out-Patient Day Surgery
Covered in full after deductible
Covered in full after deductible
Covered in full after deductible
RX Copay 30-day supply
$20/$40/$60
$10/$25/$45
$10/$25/$45
RX Copay 90-day supply
$40/$80/$180
$20/$50/$135
$20/$50/$135
None
Combined with medical deductible
Combined with medical deductible
Deductible:
Deductible Year:
Annual Preventive Care
Diagnostic Lab & X-Ray
Emergency Room Visit
RX Deductible
Health Savings Account (HSA)
A Tax – Free Savings Account
•
Contribute and keep what you don’t spend
•
Money stays with you regardless of employment
•
Unlike FSA, funds roll over from year to year
•
Contributions can be adjusted periodically
•
Invest and earn interest on your balance tax free
•
Online portal for managing/paying bills
CBG Benefits | Copyright 2013
HSA Contribution Limits
HSA Contribution Limits for 2014:
• Employee Only: $3,300
• Family: $6,450
Note:
• People over age 55 can make additional catch up contributions of
$1,000
• Employees enrolled in the FSA cannot establish the HSA until April 1,
2014.
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Payroll Contributions
Current Bi-Weekly
HMO $1,000
HMO $2,000
PPO $1,000
Employee Only
$146.15
$112.50
$189.12
Employee + Spouse
$295.19
$225.00
$378.27
Employee + Child(ren)
$251.93
$196.16
$341.12
Family
$472.11
$387.50
$574.91
New Bi-Weekly
HMO $1,000
HSA HMO $1,500
HSA PPO $1,500
Employee Only
$136.64
$90.38
$130.77
Employee + Spouse
$273.08
$179.81
$261.54
Employee + Child(ren)
$238.46
$155.77
$235.58
Family
$430.77
$288.46
$397.12
CBG Benefits | Copyright 2013
Q. Who is eligible to open and contribute to a
Health Savings Account?
A. Here are the HSA eligibility requirements:
•
•
•
•
Enrolled in a qualified HSA health Plan
No other health coverage
Not be enrolled in Medicare
Not be claimed as a dependent on someone else’s tax
return
• Not be enrolled in a FSA
CBG Benefits | Copyright 2013
Q. What happens to the money in my HSA if I leave my
job, retire or enroll in a non HSA qualified Health Plan?
A. You take the money with you whenever you go.
The HSA is in your name. It is your account. If you enroll
in Medicare or go to another employer that doesn’t
have a qualified HDHP, you can still use your HSA
money to pay for co-pays and qualified medical
expenses, but you won’t be able to make contributions
to your HSA.
CBG Benefits | Copyright 2013
Q. My domestic partner is covered on my insurance
plan. Can I use my HSA for my domestic partner’s
medical expenses?
A. If your domestic partner meets the IRS
qualifications of a tax dependent you can legally
use your HSA funds for his/her medical expenses.
CBG Benefits | Copyright 2013
Q. Do I pay for the full doctor’s visit when I go to
the doctor?
A. You are responsible to pay the amount your
insurance has contracted you to pay, typically a
discounted rate, until your deductible is met.
You can use your HSA for this expense. It is best to
have the doctor’s office put the charge through so
you receive credit to the deductible and know
exactly what to pay.
CBG Benefits | Copyright 2013
Q. I paid for an eligible medical expense out of
pocket. Can I reimburse myself with money from
my HSA?
A. Yes.
You can reimburse yourself from your HSA for any
expense incurred after the HSA was established.
There is no time limit for reimbursements.
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Q. Can I make adjustments to my HSA account
contributions?
A. Yes.
You can make adjustments to your contributions.
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Q. Are there fees associated with my HSA?
A. The account set up fee and monthly admin fee are covered
by your employer while you are an employee. If you leave
your employer your account may be charged up to $3.95 per
month or you may select another HSA Vendor.
There is no fee for electronic reimbursements and payments
but $2.00 fee per paper check. Lost/stolen/damaged cards
are $5.00 and paper statements are $1.00 but electronic
statements are free.
CBG Benefits | Copyright 2013
Q. When can I invest my funds?
A. You can invest your funds once you reach a $2,000
balance.
You can do this through the HealthEquity web portal.
Earnings are tax free and do not impact your annual
contribution limit.
CBG Benefits | Copyright 2013
Q. How do I access my account?
A. You will receive a VISA debit card in the mail and
instructions to verify your account.
You can see your account balance, claim transactions and
more online. You can also pay providers, reimburse yourself
and manage your personal information.
Access your account at www.bcbsma.com. Type in your user
name or register. Then select HealthEquity link under “My
Alerts”.
You can call HealthEquity at 877-694-3938 and someone is
available to help 24/7/365.
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Member Portal: log on at www.bcbsma.com
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MEDICAL: ANY QUESTIONS?
NEXT: FSA & DENTAL
Flexible Spending Account
• Health Equity will administer the 2014 FSA
• Annual election maximum is $2,500
• $500 roll over will replace grace period
• Employees who enroll in the HSA are eligible for a Limited
Purpose FSA
• Funds can be used for dental and vision expenses only
• Annual election maximum is $2,500
• $500 roll over
CBG Benefits | Copyright 2013
Dental Plan Change – Blue Cross Blue Shield Dental
Bi-Weekly Payroll
Current Guardian Plan
New Blue Cross Plan
Employee Only
$13.46
$14.10
Employee + One
$29.66
$28.20
Family
$51.34
$36.66
Benefit Highlights
In Network
In Network
Out of Network
$1,250
$1,500
$1,000 lifetime
Not Included
Plan Maximum
Orthodontia
Out of Network
$0
$50/$150
Diagnostic & Preventative
100%
100%
100%
100%
Basic
100%
80%
80%
80%
Major
60%
50%
50%
50%
Deductible
CBG Benefits | Copyright 2013
$50/$150
ANY QUESTIONS?
NEXT STEPS: LOG IN TO
WWW.HRCONNECTION.COM AND MAKE
YOUR BENEFIT ELECTIONS BY 12/20/2013