Benefits Update

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Dwight Morgan
5 years ago
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1 Benefits Update

2 Healthcare, Dental and Vision Premiums for employees will not go up for We received a 0% increase. Carefirst will be retained as your Medical provider. Principal will be retained as your Dental provider. EyeMed will be retained as your Vision provider. TransAmerica will be retained as your Universal Life and Long Term Care provider. PayFlex will be retained as your Health (FSA) and Dependent care Accounts provider. Legal Resources will be retained

3 No Plan Changes Maret will continue to offer 3 Medical plans HMO Health Maintenance Organization POS - Point of Service PPO Preferred Provider Organization Maret will continue to share in the costs of premiums Maret will continue to pay 75% towards the deductible for the HRA plan ($750/individual; 1,500/employee plus) Preventive Services are NOT subject to deductible. Examples of preventive services includes; standard immunizations, screening tests for blood pressure, cancer and cholesterol

4 Plan HMO Rates ; Employee Semi-Monthly D eduction Employee Only Employee/Spouse Employee/Child(ren) Family Plan POS Rates Employee Semi-Monthly 2017/2018; Semi-Monthly Deduction Employee Only Employee/Spouse Employee/Child(ren) Family Plan PPO/HRA Rates Employee Semi-Monthly 2017/2018; Semi-Monthly Deduction Employee Only Employee/Spouse Employee/Child(ren) Family

5 0% INCREASE

6 No Plan Changes No increase in rates for 2018 plan year Dental Deductible runs Calendar year (1/1/2018 through 12/31/2018) Employees that drop Dental coverage and then re-enroll without a qualifying event will be subject to late entry penalties. (See Dental Benefit page at ( Routine exams/cleanings two included per calendar year Orthodontia coverage available for children up to age 19

7 No Plan Changes Vision will remain with EyeMed $10 copay for Exams every 12 months in-network Frames every 24 months To locate providers visit View Benefits Print ID Cards View claims

8 No Plan Changes Principal will remain the carrier for Life and AD&D 2 times annual salary to a $500,000 maximum Basic Life and AD&D provided to full-time employees at no cost Remember to update/change Beneficiary; if necessary

9 No Plan Changes Principal will remain the carrier for Long-Term Disability 60% of pre-disability earnings to $10,000 maximum per month Benefits begin on 91 st day and are payable to Social Security Normal Retirement Age Long-Term disability provided to full-time employees at no cost. The benefits are considered taxable income

10 No Plan Changes TransAmerica policyholders are able to view current plan details by visiting and registering for an account. TransAmerica Universal Life policies are portable upon termination of employment. Employees have the ability to sign up for new coverage by logging into the benefits portal at and selecting the TransApp link. Guaranteed Issue = $50,000 Available Life Insurance Benefits: Employee - $10,000 to $500,000 Spouse (Employee does not have to enroll) Maximum $100,000 Dependent Child(ren) Individual UL Policy = $25,000 or Blanket Term Rider = $10,000

11 As A Reminder Flexible Spending Account (FSA) is a type of benefit plan under Section 125 of the IRS code that allows you to set aside money on a pre-tax basis to pay for certain medical and/or dependent care expenses that you and your eligible dependents incur.

12 As A Reminder There are two types of FSA s: Healthcare FSA- This FSA is for health care expenses not paid by insurance, including co-payments, exams, deductibles, vision care and dental expenses Effective July 1, 2018 we will have a debit card for qualified healthcare expenses. Participants would still have to send in receipts for some medical expenses, as well as dental and vision related expenses as well.

13 Dependent Care FSA- This FSA is for dependent care expenses you incur. It allows you to care for eligible dependents, including daycare, afterschool care or elder care.

14 As A Reminder The healthcare maximum is $2,650 per employee per plan year. The dependent care maximum of $5,000 remains the same.

15 As A Reminder Unused funds will be forfeited at the end of the plan year Monitor your balance regularly by visiting This will assist you in keeping track of your account A list of qualifying events can be located at

16 As A Reminder You must re-enroll in order to participate in the plan year. Prior to making your election, make a list of all of your anticipated eligible expenses. Avoid overestimating your expenses. You want to make sure you do not have unused funds.

17 As A Reminder Maret plan has an added 2 ½ month grace period to the end of the plan year. This allows participants to continue to incur expenses through September 15, 2019

18 Once open enrollment ends, plan changes during the year are limited to the following Qualifying Events: Marriage Divorce Birth of a Child Adoption Death Loss of a job Loss of other coverage

19 This is your only enrollment opportunity for benefit changes without a qualifying event You must re-enroll in the Flexible Spending as well as the Dependent Care plans in order to continue participation for the plan year The online enrollment portal ( will be available from May 19, 2018 through June 1, 2018). All enrollment changes MUST be completed prior to this deadline in order to become effective on July 1, 2018

20 The Benefit Plan year runs 7/1/2018 through 6/30/2019 Premium adjustments will be effective 7/1/2018 Medical deductibles run 7/1/2018 through 6/30/2019 Dental deductibles run calendar year (1/1/2018 through 12/31/2018) Employees are required to visit the Maret benefits portal ( in order to elect, continue or waive coverage for

21 IMPORTANT!! Please contact Director of Human Resources (Aileen George) immediately, if you have any change due to a qualifying event during the Benefit Plan Year. Such changes must be made within 30 days of the actual event

22 Please contact Director of Human Resources Aileen George at or

F L E X I B L E S P E N D I N G A C C O U N T O P E N E N R O L L M E N T. Here are just a few examples of qualified expenses:

F L E X I B L E S P E N D I N G A C C O U N T O P E N E N R O L L M E N T That s right. You can pay less in taxes and increase your takehome pay by signing up for a healthcare FSA, a dependent care FSA,