Take the Wheel. Benefits for the Road Ahead Open Enrollment Highlights Brochure

Transcription

1 Take the Wheel Benefits for the Road Ahead 2017 Open Enrollment Highlights Brochure

2 Start Your Engines This is your annual opportunity to ensure you and your family have the benefit coverage you need. Don t miss out be sure to enroll through Workday by December 2, 2016 (5 p.m. eastern time)! TIP: Use the Workday Online Enrollment Guide to help navigate the online enrollment process. YOUR ROADMAP TO A SUCCESSFUL ENROLLMENT 1. PREPARE. Learn about your benefit options by attending an enrollment meeting with an HR Link representative at your location. Evaluate your benefit coverage needs for the coming year. Review your current elections (see instructions below) and consider whether to make changes to better fit your upcoming needs. Have a working spouse with access to benefits? Compare their coverage and costs to yours. Have you considered the new Critical Illness Insurance or Voluntary AD&D benefits? Gather any information and documents you ll need to enroll. If you plan on adding a new dependent to a benefit, gather the required eligibility verification documents (such as a marriage or birth certificate). You will need to provide these documents to HR Link. Refer to the online 2017 Benefits Reference Guide at for even more details about your benefits! 2. ENROLL. Log in to Workday by going to and click on the Workday logo. Review current elections. Go to the Benefits icon and click on Benefit Election. Make 2017 enrollment elections: Go to your Inbox and click on the Open Enrollment item. Review and confirm your dependent information. Be sure you ve added your dependents to each benefit you elect if you want the dependent to be enrolled in the plan. Prior year enrollment doesn t count for 2017! Double check your elected coverages and waived coverages before submitting your enrollment. This is like reviewing your tax return before you send it to the IRS. Is medical elected? Dental? Are dependents attached to the plans you want them enrolled in? KEY DATES Early Nov. Online enrollment period Jan. 1, 2017 Onsite employee enrollment meetings Nov. 14 Dec. 2, benefit elections are effective; check your coverage through DON T LOSE COVERAGE If you don t enroll or elect to waive coverage by Dec. 2, 2016, your dependents no longer will have benefit coverage. In addition, BorgWarner is required by law to enroll you in default coverage, shown to the right. Your next opportunity to change elections from the default coverage will be Nov (or if you have a qualified status change), so choose wisely and enroll on time! PLAN Medical Dental Vision Flexible Spending Accounts (FSAs) Long-Term Disability Life Insurance Critical Illness Insurance Voluntary AD&D YOUR DEFAULT COVERAGE Basic Medical Plan (-Only Coverage) Same as your 2016 election Basic Life

3 Welcome Center BorgWarner s annual open enrollment is an excellent opportunity for you to Take the Wheel and think through your upcoming healthcare needs, review your current coverage and decide whether or not to make any changes to better support your needs and budget. DEADLINE TO ENROLL: December 2, 2016 by 5 p.m. Eastern Time KNOW BEFORE YOU GO: 1. DESTINATION: Workday. Online enrollment will be completed through Workday, and will be from November 14 December 2. See your Workday Online Enrollment Guide for step-by-step instructions. Remember, the monthly medical plan premium shown on your online enrollment form will already reflect the points you earned by October 31, YIELD: Double-Check Your Elections. Be sure to make your elections and review your online enrollment form BEFORE you submit it. Did you elect all the plans you wanted for 2017? Did you cover your dependents under the appropriate plans? If you need help with enrollment, please contact HR Link. 3. ROADSIDE ASSISTANCE: and the mycigna Mobile App. The mycigna.com site is your one-stop shop for benefit information, resources and tools. Through this site you can find doctors, view claims information and even take your HRQ right on your smartphone, tablet, laptop or desktop. Most of this information (except the HRQ) can also be accessed anytime, anywhere using Cigna s handy mobile app. Download the app at the Apple store, Google Play or Amazon. 4. REFUELING STATION: Consider Healthcare and Dependent Care Flexible Spending Accounts (FSAs). These voluntary accounts have helped hundreds of BorgWarner employees pay for out-of-pocket healthcare expenses (such as prescriptions, glasses/contacts or other eligible expenses) and for dependent daycare expenses with before-tax money instead of after-tax money. This means less of your income is subject to taxes. And when you pay less in taxes your take-home pay increases. With convenient payroll deductions and the safety net to roll over up to $500 of unused funds at the end of the year (for Healthcare FSA only), it s worth considering. 5. ROAD CLOSED: Don t Miss Out on Coverage. ALL employees MUST participate in online open enrollment and do one or more of the following: Elect your 2017 benefits. Verify and/or make any dependent changes. Elect to waive BorgWarner medical coverage. Otherwise, if no action is taken by the deadline, you will automatically receive default coverage, which may be less coverage than your current coverage and at a higher cost. See following page for details Contribution Rates Medical: You can continue to earn a $0 contribution plan under the BASIC PLAN by earning 5 or more points through the Shift Into Better Health Premium Incentive Program. However, contributions for both medical plans at all other levels of coverage will increase for 2017, due to increased claims. All the more reason to take advantage of the incentives! Refer to the chart at the right to see how the incentive affects your monthly premium rate for The total number of points earned as of October 31, 2016 will be used to determine your medical premiums for Dental and Vision: contribution rates for all levels of vision and dental coverage REMAIN UNCHANGED for Refer to the 2017 Benefits Reference Guide for dental and vision rates at * To align with new governmental requirements and to provide more cost flexibility for employees, this new coverage tier has been added (see details on the following page). Points Earned by Oct. 31, Points Earned by Oct. 31, Basic Plan Premium % 20% 15% 10% 0% Buy Up Plan Premium % 25% 20% 15% 10% Your Monthly Contribution $ $ $ $ * $ $ $ $ 0.00 $ $ $ $ 0.00 Your Monthly Contribution $ $ $ $ * $ $ $ $ $ $ $ $

4 2017 Points of Interest (Plan changes effective Jan. 1, 2017) ` What s New Complying with New Regulations: Required Changes to Wellness Program to Comply with New Regulations Supporting Healthy Consumerism: Medical Plan Enhancements Description Due to a number of new regulations that recently went into effect under the Americans with Disabilities Act (ADA), Equal Employment Opportunity Commission (EEOC) and Genetic Information Nondiscrimination Act (GINA), many employers including BorgWarner are now required to change the way they structure and administer aspects of their wellness programs. To comply with these new regulations, we are making the following changes:» Discontinuing the HRQ requirement to earn cash under the Wellness Incentive Opportunity. This means you can begin to earn the individual cash rewards for various healthy activities immediately, without first completing the HRQ.» Reducing the taxable cash reward for chronic disease management program from $200 to $100 to comply with new maximum incentive rules. To support smart healthcare consumerism, new features are being added to your Cigna Medical plans: Addition of an +1 coverage tier: To provide coverage that is better aligned with your personal coverage needs, we are adding a third tier option: + 1. This new tier offers a lower-cost option for those who need to cover only one dependent offering lower deductibles and out-of-pocket maximums (but also lower employer contribution to the HRA) compared to the tier. (See page 1 for 2017 rates.) BASIC PLAN (in-network) HRA Deductible OOP Only $500 $1,500 EE + 1 $750 $2,250 $4,500 $1,000 $6,000* BUY-UP PLAN (in-network) HRA Deductible OOP Only $750 $1,500 EE + 1 $1,125 $2,250 $4,500 $1,500 $6,000* * If one member exceeds $3,500/$3,750 in Basic/Buy Up plan, the plan pays 100% for the remainder of the plan year for that person. New Patient Care Rewards program: BW is offering a new incentive program that rewards you for choosing lower-cost, high-quality providers for elective procedures, such as imaging and outpatient surgeries.» There is a BIG cost difference among providers, and to help keep costs down for you and BW, it s best if we all comparison shop and consider using providers that offer same-quality procedures/services at lower costs.» Call Patient Care and they will provide you with names, cost and quality information of up to three qualifying providers within seven days.» As long as you select one of the qualifying providers, you earn a taxable cash reward in your paycheck 20% of the calculated savings, up to a maximum of $1,000 per procedure/service. New Telehealth program: Now employees have a low-cost alternative to emergency room or urgent care visits. Cigna offers Telehealth services at a reduced office visit cost as part of your medical plan giving you on-demand access to cost-effective, quality care (including prescriptions).» National network of licensed, board-certified U.S.-based doctors, including pediatricians.» Talk with a doctor anytime day or night via phone or video conferencing to discuss any minor, non-life-threatening medical condition.

5 2017 Points of Interest (Plan changes effective Jan. 1, 2017) (continued) What s New Prescription Drug Changes Description Cigna 90 Now program: To offer you more choice and greater savings opportunities, you will now be able to fill your long-term (90-day supply)/maintenance medications (those medicines you take on an ongoing basis for a chronic condition, such as diabetes, asthma or high blood pressure) at Cigna 90-day retail pharmacies in addition to the current mail-order option. Both options offer discounted 90-day fills.» Access Cigna s network of 29,000 long-term fill pharmacies, including CVS, Target, Walmart, Kroger and more. Find other participating 90-day retail pharmacies by visiting: Cigna.com/Rx90network.» There will be no disruption in your benefit coverage and no changes to your copays or the formulary. Enhancing Financial Protection: Financial Wellness Changes Improved Basic Life Coverage: To provide added financial protection to our employees and their families in the event of unforeseen circumstances, BW is doubling the Basic Life benefit.» It will increase from 1 times base annual salary (up to a maximum benefit of $500,000) to 2 times base annual salary (with a minimum of $50,000 up to a maximum of $1 million).» You may want to evaluate your level of Optional Life coverage with this improvement. Expanded Coverage Options for Spouse Life Insurance: You will now have the additional options of $75,000 or $100,000 coverage levels. Long-Term Disability: Some employees are at risk for not having enough coverage in the event of a long-term disability. BW is encouraging employees to purchase the Optional LTD70 option.» Optional LTD70 offers a higher level of disability take-home pay because it is calculated on base pay AND bonus. When combined with the core LTD coverage paid for by the Company, employees can gain peace of mind that they and their families are protected. New Voluntary Benefits New Critical Illness Benefit: For those employees who want additional financial protection and peace of mind related to unforeseen medical events, BW is pleased to introduce a new Critical Illness voluntary benefit offered through Allstate.» Provides a lump-sum payment in the event of a diagnosis of a serious illness, such as heart attack, stroke, cancer, organ transplant or kidney failure.» Coverage options include: $10,000, $20,000 or $30,000 and can be used for any type of related expense, such as medical deductible, coinsurance, lost wages and more. New Voluntary AD&D Benefit: For employees who would like additional financial protection beyond the BW-provided Basic Life and AD&D, there is now the option to purchase Voluntary AD&D for you, your spouse and/or your children.» You pay the full cost, but have access to more favorable group rates than if you purchased outside of BW.» You can elect coverage during open enrollment, but will need to enroll directly through MetLife at See enclosed flyers for more information on these new benefits! About this Brochure: This 2017 Benefits Open Enrollment Highlights serves as a Summary of Materials Modification (SMM) for the BorgWarner Flexible Benefits Plan. Changes are effective January 1, Details of these plans and programs can be found in the 2017 Benefits Reference Guide and the Summary Plan Descriptions, available online at: This document is a summary of your benefits and does not create a contract of employment between BorgWarner and any employee.

6 Roadside Assistance Questions about the Enrollment Process? Questions related to the Cigna plans: Cigna Pre-Enrollment Help Line For all other enrollment questions: HR Link Or Questions About: Your Wellness Health Plans (Medical, Prescription Drug, Dental, FSAs) Patient Care Mail-Order Prescriptions Vision Disability Life Insurance and AD&D Critical Illness Retirement Savings Plan (RSP) Call: Cigna Personal Health Team For claims, benefit plan information and 24-hour nurse line: Cigna TEL-DRUG ( ) Cigna Cigna MetLife Allstate Vanguard Visit: Your Benefits Information Is Just a Click Away Whether you are at work or home, check out our employee benefits website to: View and download enrollment materials, wellness forms and various notices Learn more about your benefits and how they work Find out how the Cigna Personal Health Team can support you and your family Access Workday to enroll and manage your benefits And more If you don t have access to a computer or would like printed copies of materials, please contact HR Link. Watch This! Check out our brief and helpful videos about your BorgWarner benefits and wellness program by using your barcode app on your smartphone to scan this code: Or, view the videos online: