2009 Items of Interest… • Dental and Vision Insurance • No coverage changes • Premium increase for dental plans • Flexible Spending Accounts (MRA’s and Dependent Care Assistance Accounts) • RightCHOICE Benefit Administrators • Direct Deposit Option • Debit Card feature for MRA • New Claim Forms
2009 Items of Interest… • Medical Insurance • No coverage changes • Medical Plan A – Health Incentive Account • Medical Plan B – Health Savings Account (HSA) option with health incentives • Premium increase for medical plans
Dental and Vision Insurance 2009 Premiums Dental Insurance – Delta Dental of Missouri Plan A-Low OptionPlan B-High Option CurrentRenewalCurrentRenewal Employee $10.84 $11.06 Employee $25.08 $25.58 Spouse $12.42 $12.68 Spouse $24.42 $24.92 Children $25.30 $25.80 Children $37.68 $38.44 Family $37.00 $37.74 Family $65.36 $66.68 Vision Insurance – Vision Service Plan (VSP) Plan A-Exam PlusPlan B-Signature Plan CurrentRenewalCurrentRenewal Employee $2.88 $2.88 Employee $ 10.80 $10.80 Spouse $1.18 $1.18 Spouse $ 6.52 $ 6.52 Children $1.24 $1.24 Children $ 6.88 $ 6.88 Family $3.22 $3.22 Family $ 17.72 $17.72
2009 Flexible Spending Accounts (MRA/Dependent Care) • RightCHOICE Benefit Administrators • New claim forms for use • Claim forms can be mailed or faxed • Debit Card feature for all participants • Direct deposit available – sign up during open enrollment via online submission form from HR Open Enrollment website
2009 Flexible Spending Accounts (MRA/Dependent Care) • Annual Account Maximums - $5,000 for each plan • During open enrollment… • Enter a per pay period amount for your account • Complete online submission form for direct deposit of reimbursements (optional) • Customer Service: 1-800-365-3936
2009 Medical Insurance • 2008 Plan Year • 2006-07 Claims Utilization: approximately 100% of premium • Included premium reduction of (1.5%) • Implemented Consumer Driven Health Plans, including HSA and health incentives • Increased Cafeteria Plan funding by $300, resulting in funding that covered: • 150% of the plan A individual deductible of $500; and • 99% of the plan B individual deductible of $1,500 • 2009 Plan Year • 2007-08 Claims Utilization: approximately 94% of premium • Includes premium increase of 11% • No plan design changes • Continuing to offer HSA’s and health incentives • Continuing to offer Cafeteria Plan funding • Result: Over last two years, premium increase = 9.5%
2009 Medical Plan A(with Health Incentive Account) • Cafeteria Plan Funding: $750/year • $500 Individual Deductible • $1,000 Family Deductible • 20% cost share after deductible met • Full Preventive Care coverage (well woman, PSA, mammogram, annual physical, immunizations, etc.) • No office visit or Rx copays • Individual Out of Pocket Maximum: $3,500/year
2009 Medical Plan A Cafeteria Plan Funding Employer Cafeteria Plan Funding = $750/year Dependent Care Assistance • Southeast funds 100% of employee Regular Medical Plan A premium • Part-time employee funding prorated by percent of assignment Dependent Medical Employee & Dependent Dental Cafeteria Plan A Option Employee and Dependent Vision Medical Reimbursement Account (MRA)
2009 Medical Plan AHealth Incentive Accounts • Allows members to earn health care dollars through various plan incentives • Feature within Medical Plans A and B • Medical Plan A – reduces plan deductible • Medical Plan B – payable to employee in giftcards • Dollars can be used to offset plan deductible • Unused health incentives carry over
2009 Medical Plan ATypes of Health Incentive Accounts • Health Assessment - $50 off deductible • Personal Health Coach - $100 off deductible • $200 incentive when achieving goals through program • Smoking Cessation - $50 off deductible • Weight Management - $50 off deductible
2009 Medical Plan B(with HSA and health incentives) • Cafeteria Plan Funding: $1,486.32 • $1,500 Individual Deductible • $3,000 Family Deductible • 20% cost share after deductible met • No Office Visit or Rx Copays • Preventive Care: Full Preventive Care coverage (well woman, PSA, mammogram, annual physical, immunizations, etc.) • Individual Out of Pocket Maximum: $5,000/year
2009 Medical Plan B (w/ HSA)Cafeteria Plan Contributions Employer Cafeteria Plan Funding = $1,486.32/year (IF ELECTING AN HSA: Half of Cafeteria Plan funding will be contributed in January; remaining half divided by and contributed for the remaining pay periods.) Dependent Care Assistance • Southeast funds 100% of employee Regular Medical Plan B premium • Part-time employee: $750 of funding prorated by percent of assignment Dependent Medical Employee & Dependent Dental Cafeteria Plan B Option Employee and Dependent Vision Health Savings Account (HSA)
Health Savings Accounts (HSA) Definition • An interest bearing savings account owned by the employee to pay for current and future medical expenses • Offered with a High Deductible Health Plan – Medical Plan B • Works similar to a flexible spending account, yet unused monies roll over year after year and continue drawing interest • Portable
Health Savings Accounts (HSA)Who is NOT Eligible? • Employees covered by Medical Plan A • Employees covered by other medical insurance that is a non-high deductible health plan • Employees enrolled in Medicare coverage • Employees claimed as a dependent child on someone else’s tax returns
Health Savings Accounts (HSA)Account Contributions • Both employer and employee contributions are permissible, pre-tax • 2009 maximum annual contribution (employer and employee contributions combined) under Medical Plan B: • $3,000 for employee only coverage • $5,950 for family coverage • 2009 Additional Age 55 Catch-up: $1,000 • Employee contributions can be changed mid-year via form completion in HR office
Health Savings Accounts (HSA)Account Distributions • Tax-free if used for qualified medical expenses • Withdrawal only for monies in the account at time of distribution • Qualified medical expenses incurred on or after account is established • Can be used to reimburse for past years’ expenses – no time limit on distribution • Can apply qualified medical expenses of spouse and children, even if not covered by your medical insurance
Health Savings Accounts (HSA)Account Distributions • Qualified Medical Expenses: • Deductibles, cost shares, and out of pocket costs on medical insurance claims • Over-the-counter medical items • COBRA continuation of coverage premiums • Medicare Insurance Premiums (Parts A through D) • Qualified long term care insurance premiums • DOES NOT INCLUDE PREMIUMS FOR MEDICAL, DENTAL OR VISION INSURANCES
Health Savings Accounts (HSA)Account Features • HSA serviced through Mellon Bank • If electing an HSA for the first time: • HSA Welcome Kits will be mailed in early December to participants for forms completion • FORMS MUST BE COMPLETED BY THE EMPLOYEE AND RETURNED TO MELLON BANK ASAP • Debit cards issued to pay for qualified medical expenses • Checkbooks available, initial 40 checks free of charge • If continuing an HSA: • Continue to use current debit card • Current account and balances transfer into the new year • Competitive mutual fund investment options available once account reaches $2,000 • Setup and monthly fees paid by the University • Customer Service: 1-888-224-4902
Medical Insurance 2009 Premiums Medical Insurance – Anthem Blue Cross and Blue Shield Plan A-HIA optionPlan B-HSA and health incentive options CurrentRenewalCurrentRenewal Employee $418.36 $464.38* Employee $357.00 $396.28* Spouse $418.36 $464.38 Spouse $356.98 $396.24 Children $313.74 $348.24 Children $267.74 $297.18 Family $732.12 $812.64 Family $624.74 $693.44 * 100% of Employee Premium Paid by the University.
2009 Benefits Open EnrollmentProcessing Your Enrollment… • October 20 – October 31, 2008 • Full-time (100% assignment) employees will once again use Employee Self Service to process Open Enrollment elections • In the Open Enrollment feature… • Click on “Health” group to elect Cafeteria Plan Funding, Medical, Dental and/or Vision insurance plan elections • Click on “Flex Spending” group to elect a Health Savings Account (HSA), a Medical Reimbursement Account and/or a Dependent Care Assistance Account • Enter PER PAY PERIOD amounts for these accounts!
2009 Benefits Open EnrollmentProcessing Your Enrollment… • For direct deposit option with MRA/Dependent Care accounts: Complete online submission form on Benefits Open Enrollment webpage. • Part-time (less than 100% assignment) employees will receive enrollment forms via campus mail for completion and return to HR by October 24 • Supplemental/Dependent life insurance elections/changes can be processed via the Benefits Open Enrollment webpage. • New 2009 Medical Insurance Cards
2009 Benefits Open EnrollmentProcessing Dependent Coverage Changes • Must add dependent coverage information if adding new dependent coverages to insurance plans for 2009. Effective Date of coverage must be entered (01/01/2009). • If dropping dependent coverages for 2009, must enter an end date of coverage for each dependent (12/31/2008).
2009 Benefits Open EnrollmentInstructional Classes • Pre-enrollment mandatory via the Office of Continuing Education website at https://www3.semo.edu/registration/courses.asp
2009 Benefits Open EnrollmentOpen Labs • Open labs for one-on-one assistance in processing your Open Enrollment through Employee Self Service