Welcome to our recorded presentation for Open Enrollment. NEXT SLIDE

Transcription

1 Welcome to our recorded presentation for Open Enrollment. 1

2 Syracuse University s comprehensive benefit package is designed to offer flexibility and choice to meet the diverse needs of our employees. Open Enrollment will be held this year from October 30 th through November 10 th. This is the annual period when you can make changes to your benefits for the coming year. Your choices will be in effect from January 1 st through December 31 st, After Open Enrollment closes this year on November 10 th, no changes may be made except in the case of a qualifying family status change, such as when a dependent first qualifies or loses eligibility for coverage. Remember, you have 31 days from a qualifying event to notify HR that you need to change your benefits. 2

3 Keep in mind that if you do not wish to make changes to the benefits you elected last year, they will carry over to 2018, with the exception of Flexible Spending Accounts. During Open Enrollment, you must specify how much you will put into your Health Care and Dependent Care Flexible Spending Accounts for the coming year. If you have never contributed to one, you should consider it. They are a great way to save money and I ll highlight more about FSA s later in the presentation. 3

4 Medical Plan Highlights 4

5 Beginning January 1 st, Excellus BlueCross BlueShield will replace POMCO as the administrator for all Syracuse University medical plans. OptumRx will continue to administer our prescription drug benefits. As an Upstate New York based provider with offices in DeWitt, Excellus BCBS was selected because of its many strengths and capabilities, including its comprehensive health management programs to ensure exceptional patient care and commitment to providing the highest level of customer service to our members. Excellus BCBS will hold on campus office hours twice per week during Open Enrollment and into An experienced representative from Excellus will be available to assist members with any personal health questions. We encourage everyone to take the opportunity to speak with an Excellus BCBS representative one on one during the on campus office hours. A schedule is posted on the Open Enrollment website and registration is not required. 5

6 With the change to Excellus BCBS in 2018, the network of participating providers will change. While Excellus BCBS offers access to the largest nationwide provider network, you should confirm your providers participate with the network. You can visit our Open Enrollment website to search Excellus provider directory. If you participate in our medical plan, you will receive a new Excellus BCBS member I.D. card in mid December at your home address. Please be sure to use this new card, beginning January 1 st the next time you visit your provider. Call our dedicated Excellus BCBS customer service center if you don t receive your new member I.D. card in the mail or if you need any assistance regarding your personal medical questions. Excellus has expanded hours of operation for their customer service phone line: Monday through Thursday: 8 a.m. 8 p.m. and Friday: 9 a.m. 8 p.m. 6

7 With Excellus BCBS, medical plan participants can contact a nurse by phone anytime 24 hours a day, seven days a week. Excellus BCBS specially trained registered nurses can provide support and education for members with chronic or complex health conditions, or provide answers to more general health questions such as assistance with finding providers or providing nutritional information. 7

8 There will be no increase in employee per paycheck contributions for any University benefit plans including medical. The rates listed here are based on the 12 month calendar year. The actual deductions from your paycheck depends on your deduction cycle. When you make your elections in MySlice, you will see your personalized per paycheck contributions. 8

9 Now, let s talk about Schedule B contributions. All Graduate Assistants enrolled in the employee medical plan and certain SEIU member employees will automatically qualify for the lower Schedule B contributions. Anyone who is not automatically eligible may apply to receive a reduced Schedule B rate for Applications must be submitted by December 8 th, along with a signed copy of your 2016 Federal Income Tax Return, as well as your spouse or domestic partner s tax return, if you file separately. You can apply as early as today, but applications will be reviewed and processed after Open Enrollment closes. A copy of the application is available online it can be found on the Human Resources Schedule B benefit webpage. You may also call or visit HR for a hard copy of the application. 9

10 Employees can qualify for the lower Schedule B rates based on their household income compared to the size of their household, as shown here. Please know that if you are currently receiving a reduced contribution, you will see the lower rate when you go into Open Enrollment online. However, in order for the reduced rate to take effect for 2018, a new application must be submitted to HR for review by Dec. 8 th. 10

11 SUBlue and SUOrange will be modified in the following three ways as of January 1 st (there are no changes to the SUPro Plan): 1. Referrals will no longer be required to see a provider to receive in network benefits. Services will either be covered as in network or out of network. 2. While the University has successfully held copays steady for the last four years, in order to continue to manage our costs and offer comprehensive health management programs, services that currently require a member copay of $20, $25, or $40 will increase by $10. These include services such as office visits, diagnostic machine tests, physical therapy, and chiropractic care. All other services will remain at the copays in place for There will now be an annual deductible of $100 per individual with a maximum of $250 for a family for in network services. A deductible is a dollar amount members pay toward covered medical care each year before their health plan begins to pay for covered medical expenses. Once the annual deductible has been met, additional in network services for the remainder of the year will be covered at the copay and/or coinsurance that applies to that service. 11

12 Here, we are further illustrating the copay changes under SUBlue and SUOrange. Again, a number of services will remain at the copays in place for In addition, all copays and deductibles are listed on the Open Enrollment website, along with a frequently asked questions resource guide. Also, please keep in mind that one of the best things you can do to help reduce your out ofpocket health care expenses is to put some pre tax money into a Flexible Spending Account, or FSA. As part of our benefits package, the University offers employees both health care and dependent care FSAs. I ll be talking more about Flexible Spending Accounts in a little while. 12

13 Remember, there is no copay or deductible for in network preventive services such as routine mammograms, prostate and cervical cancer screening, well child visits, physicals and colonoscopies, as well as generic prescription drugs for women s contraceptives, smoking cessation and other preventive drugs. Age restrictions or other guidelines may apply. Please see our schedule of benefits for SUBlue, SUOrange, and SUPro available on our Open Enrollment website for more information. 13

14 Let s take a moment and see how the three health plan options compare. This chart quickly illustrates some of the differences between SUBlue, SUOrange and SUPro. It s important to note that SUBlue and SUPro offer out of network coverage, while SUOrange generally covers only in network services. SUOrange does not provide out ofnetwork coverage except in limited emergency situations. Our partnership with Excellus BCBS provides members with access to in network doctors and hospitals in 200 countries worldwide providing you and your loved ones with financial security when traveling abroad. SUPro provides coverage for the same services covered under SUBlue and SUOrange. However, instead of copays, 20% coinsurance applies to the majority of in network services except for in patient hospitalization which is 5%. SUPro has an in network deductible of $200 per person with a maximum of $400 for a family, along with an in network annual out of pocket maximum of $1,500 for an individual with a maximum of $3,000 for a family. The out of pocket maximum amount helps to protect you and your family by capping the amount of out of pocket expenses that you would pay in a calendar year. Expenses that count toward the out of pocket maximum include the deductible, coinsurance, and copayment amounts. Please keep in mind that different copays, coinsurance, and out of pocket maximums apply to out of network coverage and are not illustrated here. In addition, separate out of pocket maximum applies to prescription drugs. For a complete listing of these costs, visit our Open Enrollment website. 14

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16 Let s review a few examples to see, in general, how the deductible and copay are applied to certain innetwork services. These examples I m about to walk you through are available on our Open Enrollment website. Please keep in mind that these are just examples. Do not use these to estimate your actual costs under the plans. The actual care you receive may be different, an the cost of the care may also be different. Here, we are illustrating how the deductible and copay are applied to certain in network services when the deductible is satisfied on the first visit. As I mentioned earlier, a deductible is a dollar amount members pay toward covered medical care each year, before the health plan begins to pay. After the annual deductible is satisfied, you will pay the copay or coinsurance that applies to those services. In our first example on the left, we have a patient who on their first visit of the plan year, saw their primary care physician for a non routine service. The total amount owed to the provider was $250. First, the $100 deductible is applied, and then the $35 copay. The patient will pay $135 for this first visit and the plan will pay $115. The total amount paid for by the patient is applied to the in network annual out of pocket maximum amount of $2,000 for an individual the maximum is $4,000 for a family. Next, looking at the example on the right, let s assume this same patient has an urgent care visit. The total amount owed to the providers is $500. Since the deductible was satisfied in the first visit, only the urgent care copay of $50 is required. The patient will pay a total of $50 for this urgent care visit and the plan will pay $450. In this example, you can see how the copay has further reduced the amount remaining in the annual out of pocket maximum. Again these coverage examples, including examples for certain in network services when the deductible is not satisfied on the first visit, along with examples for SUPro, are available on our Open Enrollment website. 15

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18 Don t forget! Annual vaccination is an important step you can take to protect yourself and others from the flu. Get your flu shot and other covered vaccines at more than 68,000 participating pharmacies with $0 copay when you utilize your OptumRx member I.D. card. For vaccines not provided through a pharmacy, you may continue to obtain covered vaccines through your doctor s office using your medical plan I.D. card. Through Dec. 31, that will be POMCO, but starting Jan. 1, 2018, remember to use your Excellus BCBS card. 16

19 Dental and Vision Plan Highlights 17

20 There are no changes to the rates for the University s dental and vision plans for New for 2018, Delta Dental is changing the frequency of dental cleanings and exams from two per 12 month period to two per calendar year. This means that no matter when you had your last cleaning in 2017, you will have access to two cleanings in calendar year This is the second year of the two year enrollment cycle, which means you are not able to enroll or change plan options, but you may add or remove a dependent from your coverage. Next year s Open Enrollment will provide you with the opportunity to change your plan coverage. 18

21 If you are a member of the SEIU Bargaining Unit, you may choose to enroll in the Service Employees Benefit Fund (SEBF) dental and vision plans. If you have specific questions regarding the plans through SEBF, please contact them at SEIU Members, remember: If you are currently enrolled in one of the University s dental and vision plans: You must remain enrolled in that plan through 2018 under the two year commitment. If you are enrolled in one of the SEBF plans: You may waive, maintain, or change your SEBF coverage. If you are currently not enrolled in any dental and vision plan: You may continue to waive or enroll in one of the SEBF plans. 19

22 Flexible Spending Account Highlights 20

23 Save on taxes by enrolling in a Flexible Spending account (FSA). Keep in mind you must make your annual election during Open Enrollment. If you participated in a Health Care FSA in 2017, you can roll over up to $500 of unused funds to 2018 and still contribute the full $2,650 for

24 There are two types of FSAs health care and dependent care. Both offer a great way to save money. The money you elect to contribute to an FSA is deducted from your pay before calculating federal, state and FICA taxes. When you need to pay for eligible health care or dependent care expenses, you get reimbursed out of your account. That means you never pay taxes on that money, which can result in big savings depending on how much care you need and your tax bracket. When you enroll in an FSA, you state up front how much money you will contribute to that account over the course of the year. You cannot change that amount during the year, unless you have a qualified status change event, so you will want to think carefully about how much to pledge. Deductions are divided up into the number of pay periods that you have. With a health care FSA, you can get reimbursed up to the full amount that you elected to contribute even before you have made the full contribution. With a dependent care FSA, you can only receive reimbursement on a pay as you go basis, up to the value of your account balance. 22

25 As we mentioned in the beginning, you are able to carryover up to $500 of unused funds in your health care FSA. This is a great feature. It means you are less likely to forfeit unused funds at year s end, or be forced to spend down your account on non essentials. And, you no longer have to try to precisely predict out of pocket medical expenses a whole year in advance. Even if you do carryover any funds to the next year, you can still make the maximum annual contribution of $2,650. If you have to pay for daycare for a dependent child under the age of 13, or for an incapacitated adult spouse or parent who is your tax dependent, a Dependent Care FSA may be a good option for you. The dependent care FSA offers you tax savings on eligible child and elder care expenses provided by qualified caregivers. The annual limit for these accounts is $5,000 per household, and you must use the money you set aside in that account during the 2017 calendar year. There is no carryover for the dependent care FSA. Check out the full list of eligible expenses for both types of accounts on wageworks.com. The money from both types of FSAs can only be used for eligible expenses incurred during that calendar year, but you have until the following April 30 to submit your claims for reimbursement. 23

26 Getting reimbursed from your FSA is quick and easy, and you can choose the method that works best for you. If you are enrolled in the University s medical, dental and vision plans, you can sign up for automatic health claims reimbursement through WageWorks for the upcoming year. Simply check the box in MySlice when you enroll. Any copays, deductibles or coinsurance that you pay under our University s health plans will be automatically submitted to WageWorks and reimbursed to you within a few weeks. You can even set up direct deposit for your reimbursements directly through WageWorks website, so you don t need to take a check to the bank. Should you prefer to not set up automatic reimbursement, WageWorks makes reimbursement easy through other options such as their EZ Receipts mobile app. Just use your smart phone or tablet to snap a photo of your receipt, upload it, and file your claim with a few swipes. This works well for claims that don t flow through the University s benefit plans, such as over the counter medications or mileage reimbursement, and also for Dependent Care claims. You can also submit claims online or via paper. 24

27 Child Care Subsidy 25

28 Balancing work and home is hard, and it can be even more difficult when you have limited funds to pay for necessary child care so you can work. That s why the University offers a child care subsidy to eligible faculty and staff. This program provides $1,000 per child younger than age 6, up to a maximum of $2,000 per year, to eligible faculty and staff with adjusted gross household incomes of $100,000 or less. The tax free subsidy can be used to pay expenses for care of dependent children provided by qualified caregivers. The subsidy is administered through an employee s dependent care flexible spending account (FSA). The deadline for applying for the subsidy is December 8, You must apply each year to receive this benefit. For more information about the subsidy program, call the HR Service Center at

29 Life Insurance, Accidental Death and Dismemberment and Voluntary Long Term Disability Plan Highlights 27

30 There are no changes to the rates or coverage for: Supplemental life and AD&D insurance Dependent life insurance; or Voluntary Long Term Disability Insurance 28

31 All benefits eligible employees receive SU sponsored basic life insurance in the amount of $10,000 for staff and $50,000 for faculty. At age 65, the basic coverage automatically drops to $6,500 for staff and $32,500 for faculty. There is no cost to you for this coverage, and you can change your beneficiaries at any time. Supplemental life and AD& D insurance is offered through MetLife. During Open Enrollment you may elect additional life and AD&D insurance coverage between 1 and 10 times your salary, capped at $250,000 (or $2 million if the multiple of your salary is greater than $250,000). If you elect to increase your coverage, you will need to complete a Statement of Health form and submit it directly to MetLife NOT to HR. The paper form is available online at hr.syr.edu/lifesoh. There are great tools available online to help walk you through the Statement of Health process these tools help to alleviate some of the fears of completing these forms. Please remember that any increase will be reported on your Open Enrollment Confirmation Statement, but will not go into effect until MetLife notifies HR of its approval. 29

32 As an added benefit, MetLife offers enrollees in its Supplemental Life Insurance Plan free will preparation services through Hyatt Legal Plans, a MetLife company. It covers attorney fees for preparing and updating a will, living will, or power of attorney when you use a participating plan attorney. If you want to use someone outside the Hyatt network, MetLife will reimburse you for the cost up to a specific dollar amount, depending on the service. AND if you enroll in Supplemental AD&D coverage, you have access to MetLife s Travel Concierge Services, too. 30

33 Syracuse University offers a voluntary Long Term Disability (LTD) insurance plan offered through The Standard that pays benefits if you become sick or are injured and cannot work for an extended period. It s important to consider whether you may need coverage beyond the plans that the University provides. Would you be able to meet your financial obligations pay your rent or mortgage, buy groceries, and pay for utilities, if you were unable to work and earn your regular income for an extended period? If you are electing the LTD plan for the first time, you will need to fill out a Medical History Statement and submit it directly to The Standard. Do NOT submit it to HR, as it contains your personal health information. Although your election will appear in your Open Enrollment Confirmation Statement, the LTD coverage will not take effect until HR receives confirmation of approval from The Standard. 31

34 If you are amember of the SEIU Bargaining Unit, you have the opportunity to enroll in the SEBF Weekly Disability Plan. The SEIU disability benefit supplements NYS Short Term Disability and the University s Disability Benefit Plan. Applications for this benefit are due to SEBF by Nov. 10. Additional information is available in the SEIU Supplement on the Open Enrollment website. 32

35 Retirement and Financial Planning Highlights 33

36 Whether you re just starting out in your career or are a few years from retirement, the choices you make now can have a big impact on your financial future. The University makes it possible for you to take control of your future with the Voluntary Retirement Plan. If you aren t already contributing, now s the time to take advantage of a great opportunity. If you are already contributing, great! You may also consider contributing more. A small increase can make a big difference. The University s retirement plans, administered by TIAA, include an easy one step investing option when you select a single lifecycle fund. You can select the T. Rowe Price Target Date Fund for the year closest to your anticipated retirement date. The funds invest more aggressively the longer you have until retirement, and will adjust to become more conservative as retirement approaches. Of course if you wish to actively manage your requirement account, there are many investment options, including fixed and variable annuities, mutual funds, inflationprotected securities, and real estate funds, from which you can select to build a diversified mix based on your financial goals. As part of your University benefits, you have access to personalized financial counseling sessions with a dedicated TIAA financial consultant, at no cost to you. To get started, call CUSE (2873) to set up an appointment. And, don t forget, you can adjust your contributions any time of year, but it s easy 34

37 during Open Enrollment through MySlice. 34

38 Review Your Dependents and Your Personal Information 35

39 During Open Enrollment, please take the time to review the Benefits Eligibility Policy to be sure that all dependents covered under your benefit plans still meet the University s criteria. A link to the Benefits Eligibility Policy can be found on the Open Enrollment website, openenrollment.syr.edu. As in years past, if you add a dependent to any benefit plan, you will need to provide proof of their eligibility. As part of the verification process, we may ask you to provide one or more of the following: Marriage license; Domestic partner documentation; Birth or adoption certificate; Legal custody paperwork; Federal income tax return. This is also a great time to take a moment and review your personal information on MySlice such as your address, military status, tax withholding information, direct deposit, and emergency contact information, and make any necessary changes. 36

40 Are You Ready to Enroll? The Open Enrollment process is conducted online through MySlice. To access the site beginning October 30, you will need to enter your Net I.D. and password. If you do not remember your Net I.D., it is the same as your , minus If you don t remember your password, you can contact ITS at

41 The Open Enrollment online portal is easy to use. Once you complete the enrollment process and click the FINISH button, a confirmation statement will be ed to your syr.edu account. This statement confirms that you have enrolled, and allows you to review your benefit elections. Be sure to click the FINISH button or your changes will not be saved. You can print your confirmation statement from your , or, if you do not have access to your syr.edu account, you may call HR and request a hard copy. You can go into MySlice and make changes any number of times during Open Enrollment, which ends on Friday, November 10 th. Again, each time you hit the FINISH button, a confirmation statement will be sent to your account. The final time that you click FINISH and receive a confirmation, this will represent the changes that will be in effect for calendar year

42 If you need access to a computer for Open Enrollment purposes, the University has a number of workstations available across campus. There are also computer kiosks available in the lobby of the Skytop Office Building. Assistance will be available from HR for employees using these kiosks during normal business hours, 8:30 5, and a printer will be available to print your final confirmation statement. Other computers are available in the Information Technology Services public computer labs and stations around campus. However, printers are not available at the stations. 39

43 We encourage you to get your benefits questions answered by calling the HR Service Center at Everything discussed in this presentation can be found at openenrollment.syr.edu. There you will find links to open enrollment information as well as to the large library of benefit information on the human resources website that is available year round. 40