Schlumberger 2017 Annual Enrollment

Transcription

1 Schlumberger 2017 Annual Enrollment November 7 to 25, 2016

2 What we ll talk about today What s new for 2017 What you need to know Plan refresh Making your decision What you need to do 2017 Annual Enrollment November 7 to 25 2

3 New Carriers Price Changes WHAT S NEW FOR

4 What s New for 2017 Carriers & Plan Design New Carriers Sun Life Health and Dental and Life insurance Cigna LTD and STD Industrial Alliance AD&D Health and Welfare Plan No change Existing medical & dental plan options Current wellness benefits, including incentives Existing enrollment platform and benefits service center 4

5 What s New for 2017 (continued) Critical Illness Optional coverage Provides a tax-free lump sum that you can spend how you choose Paid through payroll deductions Units of $10,000, starting at $20,000 to a maximum of $250,000 You can select up to $50,000 in coverage without providing EOI This year only! Premiums are based on your gender, age and smoking status You can also purchase $5,000 in critical illness coverage for your child(ren) You can use it for Treatment outside of Canada Treatments not covered by your provincial plan Child care Travel to a regional treatment centre Meals Parking New or experimental drugs Lost income for a family member to support the patient. 5

6 What s New for 2017 (continued) Critical Illness Covered illnesses include: Aortic surgery Aplastic anemia Bacterial meningitis Benign brain tumour Blindness Cancer (life-threatening) Coma Coronary artery bypass surgery Deafness Dementia, including Alzheimer s disease Heart attack Heart valve replacement or repair Kidney failure Loss of independent existence Loss of limbs Loss of speech Major organ failure on waiting list Major organ transplant Motor neuron disease Multiple sclerosis Occupational HIV infection Paralysis Parkinson s disease and specified atypical parkinsonian disorders Severe burns Stroke For children: Cerebral palsy Congenital heart disease Cystic fibrosis Down s syndrome Muscular dystrophy Type 1 diabetes mellitus * * Note: Check out Enrollment Central for more details 6

7 What s new for 2017 (continued) Price Tags and Flex Dollars Extended health care and dental care Modest increase Schlumberger-paid life insurance is decreasing Coverage cost is going down by 23% Spouse and dependent child(ren) now a combined rate Accident insurance is decreasing Coverage cost is going down 25% Long-term disability costs are decreasing Your cost is going down by over 7% LTD rates are held for 3 years 7

8 Our Carrier is changing.what next? What you need to know 8

9 What you need to know Plan Transition Mid-December Employees will start receiving their new drug cards in the mail The drug cards will only be in the employee name Employees will receive a Sun Life benefit booklet in the mail January 1, 2017 Employees will have access to their health and welfare plan on mysunlife.ca/schlumberger Claims from this date onward go to Sun Life March 31, 2017 Claims incurred up to December 31, 2016, may be submitted by mail, using the GWL claim forms and with your receipts. March 31, 2017 is the last date in which GWL will accept 2016 claims 9

10 What you need to know Plan Transition Pre-Authorized Drugs Approved drugs automatically transfer to Sun Life Contact the benefits team if there are any issues Flex dollars Eligible remaining flex dollars will transfer to Sun Life Ensure that you use your flex dollars before the end of 2016 and get your claim in by March 31, 2017 * Don t forfeit! You have two years to use the money in the HCSA and Wellness accounts. 10

11 What you need to know Go to 11

12 What you need to know 12

13 What you need to know Benefits in your pocket 13

14 Just in case you ve forgotten Plan refresh 14

15 Health Risk Assessment Health Risk Assessment = $100 in Flex Dollars The Health Risk Assessment takes 20 to 30 minutes It gives you a picture of your health as well as tips on what you can do to improve your wellness It s completely confidential You can go back and review it any time 15

16 Who s Covered? You can cover: Yourself Yourself + one dependent Yourself + two or more dependents

17 Learn When Things Change Life changes! So can your benefits You can change your coverage: During the annual enrollment period each year After you have a life event Be sure to make your benefit changes on the enrollment tool within 30 days of any life event Life events include marriage, divorce, the birth or adoption of a child, the death of a dependent, or your spouse gaining or losing his or her benefits coverage.

18 Learn -- Extended Health Care Plan Option 1 Option 2 Option 3 Reimbursement For all eligible expenses 70% 90% 100% Prescription drugs Deductible Dispensing fee Dispensing fee Dispensing fee Hospital Semi-private Semi-private Private Vision care (24 months) None $150 (PVS) $350(PVS) Paramedical services Maximum per service $500 $500 $1,000 Annual combined max $1,500 $1,500 $1,500 Orthotics (annual max) $150 $150 $150 18

19 Learn Prescription Drugs Lowest cost alternative Lowest-cost alternatives are often a generic drug Generic drugs Same active ingredients as brand name drugs Same Canadian manufacturing and safety standards Pre-authorized drugs with GWL will transfer to Sun Life How does that work? Bob is diagnosed with high blood pressure His doctor gives him a prescription for Benicar His pharmacist provides him with olmesartan, a generic version of Benicar If there is a medical reason for choosing a brand name drug, your doctor can complete a Prior Authorization form. It s on the Sun Life website under Group forms 19

20 Prescription Drugs Purchase Your Prescriptions at Costco You don t pay a dispensing fee at Costco you do everywhere else and that s money out of your pocket You don t have to be a Costco member to take advantage of the Schlumberger discount 20

21 Learn Dental Plan Option 1 Option 2 Option 3 Option 4 Deductible None None None Basic dental Recall exams Periodontics 70% 6 months 16 units 90% 6 months 16 units 100% 6 months 16 units Major dental Crowns Combined maximum 50% Included 70% Included 80% Included $1,500 $2,000 $3,000 No coverage Orthodontia Under age 18 Lifetime max No coverage 50% $2,000 50% $3,000 21

22 Learn -- Life Insurance Basic Optional Paid by Schlumberger You Automatic Yes No Coverage For you 2 x your admissible compensation Multiples of $25,000 For your spouse $10,000 Multiples of $25,000 For your child(ren) $5,000 Multiples of $5,000 Schlumberger-paid premiums are taxable Current optional life insurance in place will be grandfathered with Sun Life If you add or increase your coverage, you ll need to provide Evidence of Insurability * No EOI required for employees transferring current coverage from GWL 22

23 Long-Term Disability Option 1 Option 2 Option 3 Formula 60% of first $3, % of next $4, % of remainder 65% of first $7, % of remainder 65% of first $7, % of remainder Indexing No No Yes Monthly maximum $15,000 $15,000 $15,000 23

24 Learn -- Accident Insurance Basic Optional Paid for by Schlumberger You Automatic Yes No Coverage For you 2 x your admissible Multiples of $25,000 compensation For your spouse N/A Multiples of $25,000 For your child(ren) N/A Multiples of $5,000 No evidence of insurability is required for AD&D coverage 24

25 Some benefits are taxable Taxable Benefits Premiums on a number of benefits are taxable You ll see the amount on your pay slip You pay tax on: Flex dollars used to pay for life insurance Flex dollars used to pay for accident insurance Wellness Account reimbursements 25

26 How do you choose? What do you need to think about? Making your decision 26

27 Decide Health and Dental Look at this year s claims Think about what s changed Chronic conditions? The need for major dental work? Orthodontia planned? Talk to your doctor and dentist Look at your spouse s coverage 27

28 Decide Coordinating Your Benefits If you coordinate your benefits with your spouse Receive up to 100% coverage by coordinating your two plans Choose a lower option with a less expensive price tag Have more flex dollars to direct elsewhere or deposit into your HCSA and/or Wellness Account.

29 Decide Coordinating Your Benefits An example Marco has chosen Extended Health Option 1 (70% reimbursement) Marco has $400 in physiotherapy claims to submit Submits $400 claim to Schlumberger Flex (70%) Receives a reimbursement of $280 Submits to his spouse s plan Receives a reimbursement for the remaining $120

30 Decide Life and Accident Insurance Think about your current financial obligations Determine what your future income needs will be What would your family need if you weren t there? Consider other insurance coverage you may have 30

31 Decide Critical Illness Insurance Consider your proximity to a cancer treatment centre Are there travel, lodging, food and parking costs to consider? Could you manage the cost of new or experimental treatments not covered by the provincial plan? Would you or a family member need time off work? What about day care? 31

32 Decide For Every Life Stage At 28 Single Plays hockey 3x per week No dependents and no mortgage What does Dave choose? Medical Option 3 No optional life or accident coverage

33 Decide For Every Life Stage At 32 Gets married Coordinates benefits with his wife s plan Buys a motorcycle What does Dave choose? Medical Option 1 Dental Option 2 Optional AD&D

34 Decide For Every Life Stage At 36 His daughter arrives His wife does not return to work after maternity leave Buys a house What does Dave choose? Medical Option 2 Optional critical illness coverage Optional life insurance Optional AD&D

35 Decide For Every Life Stage At 58 His daughter marries His wife starts her own business Dave is diagnosed with rheumatoid arthritis House is paid off What does Dave choose? Medical Option 3 Reduced life and accident insurance

36 Go online to enroll between November 7 and November 25 What you need to do 36

37 Enroll Check Out Enrollment Central 37

38 Enroll Log in Go to the ESS website You can sign on from any computer with Internet access Use your General Identification Number (GIN) and Employee Self Service (ESS) PIN to log on If you have forgotten your PIN, just click on I Forgot My PIN on the home page 38

39 Enroll Set Up Your Security Questions You can reset your PIN yourself but you need to set it up When you click on I Forgot My PIN, you ll be asked to set up your security questions The next time you forget, you can just answer the security questions and reset your PIN immediately Why not set it up now? 39

40 Enroll Select Your Benefits The ESS website will guide you to Verify your contact information Verify your dependent information Choose your benefit options for you and your dependents Review your beneficiary(ies) Allocate any excess flex dollars to your HCSA or Wellness Account 40

41 Enroll Select Your Benefits (continued) Save your choices if you need to leave the ESS website before you have completed your enrollment You can continue where you left off next time you log on Once you click on OK your choices will be saved and will become your coverage for

42 Enroll Complete Your Forms You may need to complete beneficiary designation forms for your life and AD&D insurance If you choose optional life insurance for you or your spouse, you will need to fill out an Evidence of Insurability (EOI) form If you don t return your signed forms, your changes, including any new beneficiary designation, will not take effect 42

43 Enroll And If You Don t? Your dependents will have no coverage Benefit Default Coverage Extended health care Option 1 Dental care Option 1 Basic employee life insurance 2 x eligible compensation Optional life insurance None Basic AD&D insurance 2 x eligible compensation Optional AD&D insurance None Optional critical illness insurance None Any excess flex dollars Deposited to your Wellness Account 43

44 2017 Annual Enrollment November 7 to 25 QUESTIONS? CHECK OUT OUR FAQ ON ENROLLMENT CENTRAL OR CALL THE BENEFITS CENTRE 44

45 45 APPENDIX

46 What s New for 2017 (continued) Benefit 2016 Schlumberger s Carrier 2017 Schlumberger s Carrier Basic Life Great West Life Sun Life Dependent Life Great West Life Sun Life Basic/Voluntary AD&D ACE INA Industrial Alliance Optional Life (Supplemental Life) Great West Life Sun Life Critical Illness No Coverage Sun Life Long Term Disability Great West Life CIGNA Short Term Disability Great West Life (Disability Management) CIGNA Extended Health Care Great West Life Sun Life Dental Care Great West Life Sun Life Healthcare Spending Account Great West Life Sun Life Employee Assistance Program Shepell fgi Shepell fgi Pension Administration Sun Life Sun Life 46