Annual Enrollment for 2014 Benefits November 5-19

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Elwin Terry
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1 Annual Enrollment for 2014 Benefits November 5-19

Agenda 2014 changes and your annual enrollment options Important considerations HDHP-HSA: The HDHP is getting even better Benefit changes and premiums Other benefits options considerations Resources

2 Agenda 2014 changes and your annual enrollment options Important considerations HDHP-HSA: The HDHP is getting even better Benefit changes and premiums Other benefits options considerations Resources for decision making Reminders: Annual enrollment is Nov for 2014 benefits This is the only time you can make changes, except for qualified life event, such as marriage, birth, divorce make sure you add or drop dependents 2

3 Medical Deductible Blue Cross Blue Shield Blue Cross Blue Shield CIGNA HDHP/Fidelity HSA PPO Copay Plan In-Network In-Network In-Network $1,500 - individual cvrg. $3,000 - other levels cvrg.* $300 for each individual $600 for family overall N/A HSA TI Contribution Individual/Family $750/$1,250 N/A N/A Coinsurance/Copay Physician 10% 10% $20 PCP/$40 specialist Hospital 20% 20% $500/admission Out-of-pocket max Individual/Family $3,000/$6,000 $2,500/$5,000 $6,350/$12,700 Preventive Services 100% of covered services 100% of covered services $0 copay Prescription Drugs Retail Mail Retail Mail Order Retail Mail Order Deductible Combined w/ medical $0 $0 $0 $0 Generic 20%/$25 20%/$75 25% 20% $15 $40 Preferred brand 30%/$75 30%/$225 40% 35% $30 $85 Non-preferred brand 50%/$100 50%/$300 40% 35% $50 $145 Out-of-pocket max Individual/Family Combined w/ medical $5,000/$10,000 N/A Specialty pharmacy 10% 10% Flexible Spending Accounts Dental & Vision Dependent Daycare Health Care Dependent Daycare Health Care Dependent Daycare *NOTE: The HDHP deductible works differently from the PPO -- in the HDHP, the family coverage deductible applies to all covered family members -- there is no individual deductible

4 Three reasons to consider HDHP / HSA video View by clicking here. 4

higher cost options for TIers as well as TI, approximately

5 Medical Insurance Costs Total cost to TIers ($$ out of pocket) is much lower in the HDHP PPO and Cigna are the higher cost options for TIers as well as TI, approximately 2x the expected cost of the HDHP Estimated costs, 2013 and

6 Medical Insurance Costs Total cost to TIers ($$ out of pocket) is much lower in the HDHP PPO and Cigna are the higher cost options for TIers as well as TI, approximately 2x the expected cost of the HDHP $2829 Avg. cost for TIers (premiums + out of pocket) $4695 Avg. costs for TIers (premiums + out of pocket) $5420 Avg. cost for TIers (premiums + out of pocket) Estimated costs, 2013 and

7 Health Savings Account (HSA) Increase TI s annual contribution $750 individual / $1,250 other levels of coverage 2014 HSA contribution limits including TI contribution $3,300 individual / $6,550 other levels of coverage You decide when to use the money Save for retirement and/or use money to pay qualified health care expenses Easy way to pay your medical bills Use a Fidelity HSA debit card, checkbook or Fidelity BillPay The triple-tax advantage Not taxed on contributions from you or TI, on earnings from HSA investments, or on HSA money spent on qualified health care expenses. No year-end forfeiture Unused money in your HSA rolls over year to year You take your HSA savings with you if you leave TI. 7

HDHP Prescription Drug Coverage 2014 Moving from 2 tiers to 3 tiers What

meeting deductible) Generic drugs 25% 20% up to $25 maximum Preferred

-- 50% up to $100 maximum Note: The maximum applies to the coinsurance

8 HDHP Prescription Drug Coverage 2014 Moving from 2 tiers to 3 tiers What you pay in 2013 (after meeting deductible) What you ll pay in 2014 (after meeting deductible) Generic drugs 25% 20% up to $25 maximum Preferred brand-name drugs Non-preferred brand-name drugs 40% 30% up to $75 maximum -- 50% up to $100 maximum Note: The maximum applies to the coinsurance amount, but does not include the cost difference between the generic and brand-name drug. 8

9 Other Changes for 2014 Eliminating Choice Dollars $250 annually, pro-rata portion paid on each paycheck, now repurposed to HSA Adding out-ofpocket maximums Impacts Cigna Copay and HMO Blue NE plans - $6,350/$12,700 Expanding network for nutrition therapy in the BCBS plans Expanding coverage to all licensed dieticians nationwide Decreasing EAP face-to-face sessions Decreasing from 15 to 8 to align with market and utilization 9

10 2014 Premiums 20% increase for most plans, consistent with 2013 Vision premiums will increase 5% All other premiums (dental, life, AD&D, LTD, and DPC) will remain flat Benefit Monthly $ Increase BCBS HDHP $4 - $15 BCBS PPO $12 - $59 Cigna Copay $19 - $82 HMO s $0 - $60 Aetna HRA $5 - $22 10

11 2014 Medical Insurance Premiums Medical Option Monthly Rates Employee Only Employee + Spouse Employee + Child(ren) Employee + Family BCBS - HDHP $22 $64 $49 $92 BCBS - PPO $73 $252 $203 $353 CIGNA Copay Plan $115 $344 $278 $492 Note: These premiums assume you and, if covered, your spouse or domestic partner completed the TI Health (Wellness) Assessment. If not completed by Nov. 24, 2013, add $10 per month per person to the prices listed. This could result in a total of $20 more per month if neither of you take the assessment. 11

12 2014 Medical Insurance Premiums Medical Option Monthly Rates HMO Blue New England Kaiser HMO, Northern Calif. Optimum Choice HMO Former NSC only Aetna Health Fund (HRA) Employee Only Employee + Spouse Employee + Child(ren) Employee + Family $171 $409 $300 $532 $130 $258 $247 $358 $29 $175 $164 $258 $31 $92 $72 $133 Note: These premiums assume you and, if covered, your spouse or domestic partner completed the TI Health (Wellness) Assessment. If not completed by Nov. 24, 2013, add $10 per month per person to the prices listed. This could result in a total of $20 more per month if neither of you take the assessment. 12

13 Health Plan Annual Cost Comparison Employee-only BCBS HDHP BCBS PPO Cigna Copay Annual Premiums $264 $876 $1,380 Annual Deductible $1,500 $300 NA TI HSA Contribution ($750) NA NA Total $1,014 $1,176 $1,380 Employee + Family BCBS HDHP BCBS PPO Cigna Copay Annual Premiums $1,104 $4,236 $5,904 Annual Deductible $3,000 $600 NA TI HSA Contribution ($1,250) NA NA Total $2,854 $4,836 $5,904 13

14 HDHP? Cheaper to have a baby in the Cigna Copay Plan. No. Your hospital copay may be $500, but your Cigna premiums and no HSA contribution may be more overall. Check out the new baby scenario on benefits.ti.com. Once I m in, I can t get out. No. If you were hired before 1/1/2012, you are not locked in to the HDHP plan. HSA is the same as FSA. No. The HSA is your account and the money rolls over each year. You must enroll in the FSA each year and you must use it or lose it. You can use the HSA for all qualified medical expenses including prescriptions, dental and vision. I can t afford the deductible in the HDHP. You can. The high deductible can be scary, but you receive the TI HSA contribution in January to help you with immediate expenses. With the HDHP you pay for your health care when you need it instead of in higher premiums for health care you may not use. It s hard paying medical bills out of your HSA. No. When you open your account you receive a debit card. You can also request a checkbook or pay your providers through Fidelity on-line bill pay. 14

15 Other Health and Insurance Options Health benefits Dental: MetLife Dental (Basic, Plus) or Aetna Dental HMO Vision: VSP Vision Plan Insurance benefits Disability Pay Continuance (DPC) Plus (DPC Basic is paid automatically by TI ) Long-Term Disability (Basic, Plus) Supplemental Life Insurance (self, spouse, children) Accidental Death & Dismemberment (self, spouse, children) 15

16 DPC & LTD Regular Schedule First 40 hours 40 hours through week 13 Weeks 14 through 26 Weeks 27 + Time Bank DPC 100% Pay Medical Certification required DPC* 75% Pay (Basic) 100% Pay (Plus)* Medical Certification required LTD* 50% Pay (Basic) 66 2/3% Pay (Plus) Medical Certification required First 3 complete shifts Fourth shift through week 13 Weeks 14 through 26 Weeks 27 + Compressed Schedule * Disability benefits are reduced by all other disability benefits payable (such as Social Security disability benefits) DPC Basic cost is TI-paid DPC Plus, LTD Basic and LTD Plus costs shared by TI and TIer For more information go to benefits.ti.com > Occ. Health/Time Loss 16

17 Don t forget: Flexible Spending Accounts Save taxes by setting aside pre-tax funds through payroll deduction. Reimburse eligible expenses throughout the year. Must re-enroll each year. Unused funds forfeited at end of year. Dependent Daycare Spending Account Applies to daycare expenses if you and your spouse are both employed 2014: Annual limit is $5000 Dental and Vision Spending Account Only available with HDHP-HSA Qualified dental and vision expenses Lets you preserve your HSA funds 2014: Annual limit is $2500 Health Care Spending Account Qualified health care expenses, including dental and vision Not available for use with the HDHP-HSA 2014: Annual limit is $

Employee Assistance Program (EAP) Access to free counseling sessions (8 per situation) Online resources including: online screening tools self-assessments

18 Employee Assistance Program (EAP) Access to free counseling sessions (8 per situation) Online resources including: online screening tools self-assessments personalized improvement plans and more Available to TIers, their families and other household members Resource for managers Available 24 hours/day, nationwide 18

19 DOMA On June 26, the U.S. Supreme Court struck down as unconstitutional a portion of the federal Defense of Marriage Act (DOMA) that defined marriage as a legal union between one man and one woman and a spouse as a person of the opposite sex. TI will no longer need to impute income and withhold related tax on health-benefit coverage provided to a same-sex spouse, if you notify TI that your marriage is recognized as legal for federal tax purposes. You may provide notification related to 2013 and/or 2014 coverage by contacting the TI Benefits Center toll-free through TI HR Connect, , option 1. 19

It s not too late to take the Health Assessment You and your spouse

November 24 final deadline to receive your credit in 2014: $120

24 TI employees: LiveHealthyAtTI (single sign-on access through the

20 It s not too late to take the Health Assessment You and your spouse can still complete the Health (Wellness) Assessment before the November 24 final deadline to receive your credit in 2014: $120 employee credit OR $240 employee & spouse credit Nov. 24 TI employees: LiveHealthyAtTI (single sign-on access through the TI network) TI spouses/partners: (access from outside the TI network) 20

21 Annual Enrollment Resources benefits.ti.com > Health at work or at home.

Health & Insurance Benefits Guide Connect booklet mailed to home Additional tools on

22 Resources for Decisions Go to benefits.ti.com > Health or type annualenrollment in your browser Details on all health benefits 2014 Health & Insurance Benefits Guide Connect booklet mailed to home Additional tools on netbenefits.com/ti Plan detail comparison charts Cost comparison charts Find a provider FSA calculator Register your choices on netbenefits.com/ti 22

Annual Enrollment for 2013 Health Benefits

Annual Enrollment for 2013 Health Benefits Highlights Annual enrollment is Nov. 6-20 for 2013 benefits This is the only time you can make changes, except for qualified life events For most TIers, all health