Open Enrollment 2012

Transcription

1 YOUR BENEFITS NEWSLETTER SEPTEMBER 2011, ISSUE 34 CHEVRON PHILLIPS CHEMICAL COMPANY LP (CHEVRON PHILLIPS CHEMICAL) WHAT S INSIDE: Open Enrollment 2012 It s That Time of Year Again Tools to Help You Make the Right Decisions Which Medical Plan Option is Right for you? HSA and FSA Alike, But Different What s Changing for 2012 Your 2012 Benefits at a Glance If You Don t Enroll Open Enrollment 2012 It s That Time of Year Again Your Chevron Phillips Chemical Benefits Annual Open Enrollment for 2012 begins on Thursday, October 20, and ends at midnight (Central Standard Time) on Friday, November 4. That s only a few weeks away, so please take time to carefully study the enrollment materials and make sure you understand the health and welfare plans available to you and how they differ from one another. Open Enrollment is a once-a-year opportunity to change your existing health and welfare plan selections if you feel a different plan is a better fit for your needs. You and your family are the most important stakeholders when it comes to your benefits. Chevron Phillips Chemical is committed to providing you with benefits that promote your health and well-being, but it s your responsibility to select plans that are right for you. For example, our three medical plan options offer different levels of cost and coverage to appeal to a range of employee needs. If you expect to need a substantial amount of medical care during the year and are content to stick with health care providers within the Aetna network, you might want to pay more up front for the most comprehensive plan, the Select EPO Plan it s sort of like a season pass. On the other hand, if you are relatively healthy, like to shop around for the best deal, and see a doctor only a few times a year, you can save money with the Value CDH Plan it s more like buying a ticket each time you attend an event. If you prefer a moderate cost plan which allows you the flexibility to see both in-network and out-of-network doctors, the Choice PPO Plan may be the right choice for you it s like a blend of purchasing a partial season pass and buying individual tickets to fill in the gaps. Don t forget that all three medical plans cover designated preventive care at 100% with no out-of-pocket costs to you. Use your Open Enrollment packet and the interactive Open Enrollment tools to compare plans and costs. New Login Requirement for the Benefits Service Center. The re-designed Chevron Phillips Benefits Service Center Web site has a new first-time login procedure. Your old four-digit PIN will no longer work. For your first login, enter your social security number (no dashes) as your username and your birth date (MMDDYY) as your password. Once you are logged in, you can create your own username and password for future logins. Consider doing this before Open Enrollment starts ( For help, call a Benefits Service Center representative at (option 1). Has Your Personal Information Changed? Call the Employee Service Center at , option 3, to update your personal information, such as your address, so you don t miss out on important communications, including your Open Enrollment packet. 1

2 Tools to Help You Make the Right Decisions In talking with our fellow employees, we ve learned that most of you prefer to receive benefits information through various channels, both print and online. Therefore, in addition to the print materials mailed to your home, we provide several online resources and tools to help you estimate your costs, understand plan features, and determine which plans offer the best value to you. All are available under Benefit Guides & Online Tools Open Enrollment Animated Presentation This brief but informative flash video, available on in early October, outlines what s changing in Chevron Phillips Chemical s health and welfare plans for 2012 and details the key unique features of each medical plan option. Plan Selection & Cost Estimator Tool This tool, co-developed by Aetna and Chevron Phillips Chemical, not only helps you estimate and compare your costs under the different medical plan options, but also allows you to compare Chevron Phillips Chemical s medical plans versus your spouse s employer s medical plan options. If you were enrolled in one of Chevron Phillips Chemical s medical plans for plan year 2011, you can automatically pull in your claims information and project which plan would be best for you. Otherwise, the tool will pre-populate a typical claim year for you and your dependents. Either way, you can easily factor in different scenarios such as a major surgery or the birth of a child. Express Scripts Preview Tool As a complement to the Aetna estimator, this tool enables you to compare drug costs among Chevron Phillips Chemical s medical plans, see which medical plan is right for you based on your prescriptions, and estimate your total drug costs for the year. Cost of Care Tool Log on to Aetna Navigator at to find out what a medical service will cost before you make the appointment. This tool will let you compare costs for up to three local providers or facilities at a time and provide you with a real-time cost estimate based on your plan. This can be particularly useful if you re enrolled in the Value CDH Plan and want to make sure you get the most cost-effective care. After all, you know the price of a ticket before you pay for it. Why shouldn t you know what to expect when you go to the doctor? Plan for Your Health This public education campaign is designed to help you make smart benefits choices at various key stages of your life, and is a joint initiative between Aetna and the Financial Planning Association. Go to and in just 5 minutes you ll learn the basics with Health Insurance 101 and other helpful guides. And in as little as 15 minutes, you can estimate your health expenses using the interactive tools, which will give you a better idea about which plan is best for you and your family. Take some time to explore all the great resources and information that will allow you to protect yourself today and meet your health benefit and financial needs in the future! Fidelity HSA Guide and Presentation These resources provide details on the Health Savings Account that works in conjunction with the Value CDH Plan to help you save, invest, and grow your health plan dollars tax-free. Season Pass or Individual Tickets? Take a few minutes to learn how the three medical plans compare with each other under different scenarios, depending on the medical services needed during the year. Advice from a Health Expert at your fingertips! Did you know you have access to a registered nurse free of charge 24 hours a day, 7 days a week? When you call Chevron Phillips Chemical s Informed Health Line operated by Aetna (Toll-Free Number: ), you can speak directly to a registered nurse about a wide variety of health and wellness topics. You can also listen to the Audio Health Library, which explains thousands of health conditions in English and Spanish. 2

3 Which Medical Plan Option is Right for You? Most of us spend more time researching auto insurance than we do evaluating our health care options. The result is that many people end up purchasing more medical coverage than they really need. It s important to consider what your total costs may be under each medical plan. Since everyone s health care needs are unique, it pays to use the Plan Selection & Cost Estimator Tool. Here s how the costs add up for three representative employees with very different needs. MARTIN is 25 years old, single, healthy and just getting started. He doesn t see the doctor much, but he knows it s important to have coverage just in case. He s thinking about the Value CDH Plan because of the low contributions and opportunity to save and invest money in a Health Savings Account (HSA). Martin uses the Plan Selection & Cost Estimator Tool to compare his medical plan options. The only care he expects he ll need is an annual physical from an in-network doctor, which costs $105 but is covered 100% under all three medical plans. Martin realizes that if he enrolls in the Value CDH Plan, he ll pay roughly $1,000 less for coverage than if he enrolled in the EPO and he could invest the $1,000 savings in an HSA. After considering his options, Martin chooses the Value CDH Plan. It covers the wellness care he needs, protects him from catastrophic medical bills just in case, and enables him to build up a balance in his HSA. Martin anticipates that he ll have $1,000 left in his HSA at the end of the year money that will be available to pay medical expenses in the future. Key Features Select EPO Plan Choice PPO Plan Value CDH Plan Expected cost of health care services $ 105 $ 105 $ 105 Annual paycheck premium amount $ 1,286 $ 758 $ 235 Employee pays: Deductible Copays & coinsurance Other services not covered Total employee costs (including premium $ 1,286 $ 758 $ 235 contributions) Health plan/employer pays: Preventive care $ 105 $ 105 $ 105 Other benefits Total health plan/employer costs (not counting employer premium contributions) $ 105 $ 105 $ 105 Note: Annual paycheck premium amounts may differ for employees of Performance Pipe. 3

4 ELIZABETH is 39 years old, married and the mother of two children. She s looking for a medical plan that will give her affordable coverage and effective treatment for her allergies and her son s asthma. She s leaning toward the Choice PPO Plan, but she also likes the Value CDH Plan because, like the Choice PPO Plan, it gives her the flexibility to see the doctor of her choice. Coverage under the Value CDH Plan also costs a lot less more than $1,300 less than the PPO and more than $2,700 less than the EPO. She decides that if she enrolls in the Value CDH Plan, she ll invest $2,700 in an HSA. Elizabeth logs on to the Plan Selection & Cost Estimator Tool and pulls in her claims information for the past 12 months. She budgets for annual physicals for herself and her husband and wellness exams for herself and her children ($551), immunizations for her children ($192), four Primary Care Physician (PCP) visits for herself ($316), and two in-network specialist visits to treat her son s asthma ($158). She also projects her prescription drug costs $1,376 for her son and $207 for herself. When she compares her options, she sees that the Value CDH Plan is the best choice so far. But what if her son needs to visit the Emergency Room (ER) for an asthma attack, as he has in the past? Elizabeth adds in the cost of an ER visit ($1,844) and that tips the scale in favor of the Choice PPO Plan. The cost of an ER visit would wipe out Elizabeth s HSA balance, and she d need to come up with an extra $395 from other savings to cover the cost. Elizabeth decides to enroll in the Choice PPO Plan, but plans to reconsider the Value CDH Plan next year especially if she thinks her family won t need as much medical care as it has in the past. Key Features Select EPO Plan Choice PPO Plan Value CDH Plan Expected cost of health care services $ 4,644 $ 4,644 $ 4,644 Annual paycheck premium amount $ 3,357 $ 1,979 $ 614 Employee pays: Deductible Copays & coinsurance $ 500 $ 876 $ 1,066 $ 637 $ 2,400 $ 695 Other services not covered Total employee costs (including premium $ 4,733 $ 3,682 $ 3,709 contributions) Health plan/employer pays: Preventive care Other benefits $ 743 $ 2,525 $ 743 $ 2,198 $ 743 $ 806 Total health plan/employer costs (not counting employer premium contributions) $ 3,268 $ 2,941 $ 1,549 Note: Annual paycheck premium amounts may differ for employees of Performance Pipe. 4

5 DANIEL is 58 years old, married and the father of three grown sons. He and his wife (also 58) have serious health conditions, and both need surgery next year. As Daniel considers his medical plan options, he finds the Value CDH Plan appealing for several reasons. He s currently contributing the maximum to his 401(k) and likes the idea of supplementing his savings with a tax-free HSA. He also likes the flexibility to see any doctor. If he enrolls in the Value CDH Plan, he ll contribute the maximum ($6,250) to the HSA with the goal of having money left over at the end of the year. Daniel logs on to the Plan Selection & Cost Estimator Tool and budgets for his 2012 health expenses: physicals and wellness exams for himself and his wife ($559); PCP and specialist visits ($869); tests, surgery and hospital stays for himself and his wife ($32,297); and medication ($2,957). He also adds in the cost of a potential ER visit ($1,844). Daniel sees that in a year with extraordinary medical care costs, he s best off selecting the Select EPO Plan. The plan s low deductible and coinsurance make up for the much higher annual contribution for coverage. He enrolls in the Select EPO Plan but intends to reevaluate his plan options next year. Key Features Select EPO Plan Choice PPO Plan Value CDH Plan Expected cost of health care services $ 38,526 $ 38,526 $ 38,526 Annual paycheck premium amount $ 2,804 $ 1,653 $ 513 Employee pays: Deductible $ 800 $ 1,300 $ 2,400 Copays & coinsurance $ 4,836 $ 5,906 $ 9,500 Other services not covered Total employee costs (including premium $ 8,440 $ 8,859 $ 12,413 contributions) Health plan/employer pays: Preventive care $ 559 $ 559 $ 559 Other benefits $ 32,331 $ 30,761 $ 26,067 Total health plan/employer costs (not counting employer premium contributions) $ 32,890 $ 31,320 $ 26,626 Note: Annual paycheck premium amounts may differ for employees of Performance Pipe. 5

6 HSA and FSA Alike, But Different The Health Savings Account (HSA) offers attractive features similar to a Health Care Flexible Spending Account (FSA). Both accounts let you set aside approximately $6,000 per family per year tax free to pay your out-of-pocket health care expenses such as deductibles, coinsurance, and the cost of prescription medications and other products and services that are medically necessary but are not covered by the medical and dental plans. However, there are several important differences, and you can only enroll in the HSA if you are enrolled in the Value CDH Plan. When deciding which medical plan option is best for you, make sure to consider the value of an HSA or FSA. You cannot enroll in both an HSA and an FSA. HSA You must be enrolled in the Value CDH Plan to enroll (federal law does not allow you to contribute to an HSA if you enroll in the Select EPO or Choice PPO). Your balance rolls over from year to year, enabling you to accumulate tax-free money to pay future qualified medical expenses. You don t have to reimburse yourself in the same year that you incur a medical expense. For example, you can reimburse yourself in 2012 for an eligible expense you incurred, and paid for, in 2011, as long as your HSA was established in You may set aside up to $3,100 in tax-free savings per year for yourself or up to $6,250 if you also cover your spouse or family. Your account earns interest and/or you may invest your balance in various investment options. Your balance can be used to pay COBRA premiums, long-term care and Medicare premiums. Your HSA belongs to you, is portable (you can take it with you if you change employers) and can be moved to another HSA provider at any time. You may only use the funds that are in your account. You may change your annual election amount at any time. FSA You don t need to be enrolled in the Company s medical plans to contribute to an FSA; however, if you or your spouse contribute to an FSA, federal law prohibits you from also contributing to an HSA. You forfeit any unused balance at the end of the plan year. You may set aside up to $6,000 in tax-free savings per year for yourself and/or your family. Your balance does not earn interest and cannot be invested. Your balance cannot be used to pay COBRA premiums, long-term care or Medicare premiums. Your FSA is not portable; any unused balance is forfeited if you leave the Company, unless you elect to continue coverage through COBRA. You may use your full year s FSA election amount any time during the plan year. You may only change your annual election amount during Open Enrollment or as a result of a qualified status change. 6

7 What s Changing for 2012 The basic plan features of Chevron Phillips Chemical s three medical plans such as deductibles, copays, coinsurance percentages, etc. will not change for However, the Company is pleased to introduce some exciting enhancements to your medical plans in 2012, intended to address the need employees have expressed for: 1) a helping hand when faced with a chronic condition; and 2) a more straightforward and transparent approach to our prescription drug formularies and pharmacy management programs. Our efforts are geared toward identifying enhancements that have a positive effect on health and wellness, allowing us to maintain our medical plans while managing costs for you and for the Company. Changes that will be implemented in 2012 are not about the actual benefits we offer, but about improving the way care is coordinated, making sure employees have the information they need to make thoughtful decisions and facilitating the most appropriate care in an efficient and effective manner. New Disease Management Program Effective January 1, 2012, Chevron Phillips Chemical has engaged ActiveHealth to coordinate a multicondition disease management program as a supplement to all three of our medical plans. A few of the conditions that ActiveHealth will assist employees and their dependents with, as desired, are coronary artery disease, congestive heart failure, hypertension (high blood pressure), hyperlipidemia (high cholesterol), diabetes, asthma, and chronic obstructive pulmonary disease (COPD). Disease Management is an approach to patient care that seeks to limit preventable events by maximizing patient adherence to prescribed treatments. In short, it teaches patients how to manage a chronic disease or condition. If you have one of the chronic conditions mentioned above, a registered nurse from ActiveHealth may reach out to you by phone. The nurse will ask you questions about your health or condition to see if he or she can help. Then, a series of calls between you and the nurse will be scheduled at your convenience. These conversations will allow you to discuss your concerns with the nurse and to educate you so that you can share with your doctor. Disease management is not a new concept. Similar programs have been around for several years, including Diabetes America, a clinic-based disease management program already offered by Chevron Phillips Chemical. The ActiveHealth program is a telephonic program that complements Diabetes America and offers the following unique features: The program recognizes that people often have more than one chronic condition and that these conditions and treatments can be inter-related. Therefore, it takes a holistic view, focusing on the overall health of the individual. The program provides employees and their dependents with a primary nurse, so you will have the opportunity to build a trusting relationship with a single point of contact. The program interactively engages all parties the physician, the program nurse and the patient in the care process. The program offers self-paced online digital health and wellness tools to all medical plan participants regardless of whether or not they have a chronic condition. The program has the capability to expand to additional conditions to meet our employees and their dependents future health care needs. 7

8 Keep in mind that, while we believe ActiveHealth s services are mutually beneficial for employees, dependents, and the Company, you may opt out of the program at any time for any reason. Conversely, you can selfidentify and contact ActiveHealth to participate even if ActiveHealth does not reach out to you first. An incentive feature for prescription drugs treating chronic conditions will be integrated with ActiveHealth s program and will offer certain medications at reduced costs to those who participate in the program. Living with an illness can be difficult, but you don t have to go it alone. Facing a long-term chronic illness or other complex health issue can take a huge toll on you and your family. That s why Chevron Phillips Chemical offers disease management programs. These programs are designed specifically to ease your worries and assist you every step of the way. More information about ActiveHealth s program will be available in Simplification of Prescription Drug Formularies A formulary is a list of covered prescription drugs that also indicates whether they are covered as a generic drug or as a brand name drug on the formulary. In addition, Chevron Phillips Chemical s formulary identifies certain generic and brand name drugs that serve as effective substitutes for brand name drugs that are not included on the formulary. Keep in mind, however, that non-formulary brand name drugs are typically covered under the Company s prescription drug plan (at a reduced benefit level) unless specifically excluded in the Summary Plan Description. Currently, the Select EPO Plan and the Value CDH Plan both use Express Scripts more inclusive National Preferred Formulary, while the Choice PPO Plan uses the High Performance Formulary. In 2012, we will consolidate formularies so that all three medical plans use the more inclusive Express Scripts National Preferred Formulary. Consolidation provides a more equitable approach to our prescription drug coverage among all three medical plans and reduces the complexity of administration for both you and the Company. In addition, the formulary document will be enhanced to provide a singlesource for you to identify which of your prescription medications are preventive drugs subject to lower copays, are maintenance medication requiring home delivery after two retail fills, are drugs requiring Prior Authorization or Step Therapy, and/or are specialty drugs required to be ordered from CuraScript. 8 Addition of Step Therapy for Specialty Prescription Drugs Specialty drugs are generally defined as high-cost injectable, infused, oral or inhaled drugs that require close supervision and monitoring. Specialty drugs are typically prescribed for rare conditions and applications such as inflammatory conditions, multiple sclerosis, growth hormones and pulmonary arterial hypertension. Over the past few years, specialty drugs have become the primary drivers of increased prescription drug costs overall and the escalating cost of prescription drug coverage for both employees and employers, including Chevron Phillips Chemical. While these drugs represent medical advancements, their high cost makes it imperative that they are used appropriately. In 2012, Step Therapy will be added for designated specialty drugs in all three medical plans. Grandfathering provisions will apply for those already filling specialty drug prescriptions under our medical plans. Remember that Step Therapy is about value about getting the most effective medication for your money. Most simply, that means getting a tried-and-true medication that s proven safe and effective for your condition, and getting it at the lowest possible cost. For more detail on why Step Therapy is a valuable program for you as a plan participant, check out the short video at the link entitled Step Therapy: The Right Medicine at the Right Cost at under Benefit Guides & Online Tools.

9 2012 Health Plan Premium Contributions We will see an average 6.3% increase in contributions, also commonly known as insurance premiums, for domestic medical plans in 2012 both for the Company and for employees. The Company continues to contribute equal dollar amounts per employee to all three medical plans, which means that the Company bears a greater percentage of the coverage cost burden for the plans with a lower cost of coverage. On average, the Company contributes $10,500 per year per employee for medical and dental coverage alone. For example, the Company pays approximately 95% of the cost of the Value CDH Plan (employees pay less than 5%), while the Company pays 80% of the cost of the EPO Plan (employees pay 20%). Dental premiums will also increase by approximately 6% in rates for all health and welfare plans will be listed in your Open Enrollment packet. Health Care Reform Update No provisions of the health care legislation signed into law last year have an impact on our benefit plans for While there are still uncertainties as to how health care reform will be implemented through 2014 and beyond, we continue to see our industry move toward a more consumer-focused health care environment where individuals have greater choice. We responded to that trend last year by adding the Value Consumer-Directed Health Plan (Value CDH Plan), coupled with access to a Health Savings Account (HSA), to provide an option for employees who typically don t use a lot of medical services and would like to save money on their coverage. As always, we will continue to monitor developments in legislation, along with industry trends, to make sure we are offering plans that protect your health and promote your well-being at a cost affordable to you and to the Company. Expat Employees 2012 Changes The basic plan features, including medical deductibles, copays and coinsurance percentages, will remain unchanged for Expat employees will see an overall increase of approximately 6.3% in medical premiums in For 2012, medical plan and prescription drug plan deductibles will be prorated for expatriate employees to avoid a perceived penalty for having taken on an overseas assignment. In light of escalating prescription drug costs, coinsurance maximums, or caps, will be implemented on employee coinsurance payments for prescription drugs to limit expatriate employees out-of-pocket exposure, especially for high-cost specialty drugs such as oral chemotherapy medications. 9

10 at a A high-level overview of your 2012 health and welfare benefits is provided in the table below. For additional information, refer to your Open Enrollment packet and visit Domestic Benefits Select EPO Plan (Aetna Select SM Open Access network) Choice PPO Plan (Aetna Choice POS II Open Access network) Value CDH Plan (Aetna Choice POS II Open Access network) HSA (for participants enrolled in the Value CDH Plan) Prescription Drug Plan, administered by Express Scripts (available with all three medical options) Comprehensive Dental Plan (Aetna PPO/ PDN with PPO II network) Preventive Dental Plan (Aetna PPO/PDN with PPO II network) Employee Assistance Plan administered by Aetna Behavioral Health (EAP) 100% paid by the Company for you and your dependents whether or not you are enrolled in a medical plan. Alere Quit for Life Smoking Cessation Program 100% Company-paid for you and your spouse. Diabetes Management Program Clinicbased resources available to you and your dependents from Diabetes America under the Select EPO Plan and Choice PPO Plan for a $10 copay, and under the Value CDH Plan (deductible and coinsurance apply). Disease Management Program Telephonic resources from ActiveHealth to help you better manage a chronic condition at no cost to you, with potential reduction in prescription drug costs. Weight Watchers at Work Weight loss programs for full-time Chevron Phillips Chemical employees; Company pays 50% of fees. 24-Hour Nurse Line Access to medical advice and support at Expatriate Benefits Aetna Global Benefits Medical Plan Prescription Drug Plan, administered by Aetna Global Benefits Aetna Global Benefits Dental Plan International Employee Assistance Plan administered by Aetna Global Benefits. Alere Quit for Life Smoking Cessation Program 100% Company-paid for you and your spouse. Diabetes Management Program Benefits available to you and your dependents from Diabetes America for a $10 copay while in the U.S. International Disease Management Program Tools, resources and dedicated nurses to help you manage a chronic condition while on an international assignment. Online Weight Watchers Program 20% discount on weight loss programs and online subscription. 24-Hour International Member Service Center 24-hour access to service professionals who can assist with international benefit needs and a 24-hour nurse line available at Collect calls are accepted worldwide at Benefits Available to Domestic and Expatriate Employees Flexible Spending Accounts Health Care FSA Dependent Care FSA Vision Aetna Vision Discount Program included with all medical options Basic Income and Survivor Protection Basic Life Insurance Basic Accidental Death and Personal Loss (AD&PL) Insurance Occupational AD&PL Insurance Business Travel Accident Insurance Voluntary Income and Survivor Protection Supplemental Life Insurance Spouse Life Insurance Dependent Child Life Insurance Supplemental AD&PL Insurance Long-Term Disability Insurance (choice of either a 50% option or a 60% option) 10

11 If You Don t Enroll All employees are encouraged to actively enroll. Remember, you must enroll to participate in a Flexible Spending Account or Health Savings Account. If you don t enroll, your coverage defaults as follows. In 2011, If You Enrolled in a medical plan or dental plan Waived medical coverage Enrolled in an FSA Enrolled in a Health Savings Account (HSA) Enrolled in other voluntary coverage (Supplemental Life, Supplemental AD&PL, Long-Term Disability, etc.) Your Default Enrollment For 2012 Is The same plan as 2011 No medical coverage No FSA. You must re-enroll each year and funds don t roll over. No new HSA contributions. You must choose a new contribution amount each year. Same coverage elected for 2011 This is only an overview of your health and welfare benefits for next year. You ll receive more detail in your annual Open Enrollment packet. If you do not receive your packet by October 17, call the Chevron Phillips Benefits Service Center at (option 1) Monday through Friday from 8:00 a.m. to 5:00 p.m. CST. Notice to Participants Elements Your Benefits Newsletter ( the Newsletter ) is applicable to all participating Chevron Phillips Chemical employees (other than Chevron Phillips Chemical Puerto Rico Core employees); salaried Performance Pipe employees; and Performance Pipe employees paid on an hourly basis at Reno and Knoxville hired prior to January 1, The Newsletter, including the examples contained herein, is not intended to constitute a promise or contractual commitment by the Company or a right to benefits under any of its employee benefit plans. The Company reserves the right to unilaterally change or terminate any or all of its employee benefit plans at any time and without prior notice. Also, modifications may be necessary to comply with applicable legal requirements. In the event of any inconsistency between a statement contained in the Newsletter and the relevant plan document, the plan document will control. Employees covered by collective bargaining agreements will also be subject to the benefit plan provisions contained in the applicable collective bargaining agreements. In addition, the Newsletter is not intended to be and should not be treated as investment advice or tax advice. Participants should not rely upon the information contained in the Newsletter as a substitute for obtaining specific tax advice or investment advice from their tax advisor or financial planner. 11

12 Chevron Phillips Chemical P.O. Box 9735 Providence, RI Important Dates Date October 20, 2011 November 4, 2011 December 1, 2011 January 1, 2012 March 31, 2012 Activity 2012 Annual Open Enrollment begins Annual Open Enrollment ends If you elect the Value CDH Plan and have not previously opened an HSA account, you need to open your HSA if you want to take advantage of tax-free savings via automatic payroll deduction. Log in to to set up your HSA starting December 1, plan year begins Last day to file FSA claims for 2011 expenses Open Enrollment 2012 Chevron Phillips Chemical Company LP IT S A NEW SEASON!