2018 Benefits. Your Emeriti Retirement Health Plan

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1 2018 Benefits Your Emeriti Retirement Health Plan

2 Welcome to Emeriti s Open Enrollment Helping you make the most of your healthcare choices Manageable choice, easy to understand information, personalized support 2

3 What s new in 2018? SRM PLANS K & L Aetna eliminating SRM plans in Default current enrollees to the Medicare Advantage Premium Plan. MEDICARE ADVANTAGE PLANS Return of the ACAmandated Health Insurance Provider Fee (HIF). PRESCRIPTION DRUG PLANS Rx Premium 12.1% Rx Plus -16.6% Rx Standard -1.2% DENTAL PLAN No premium increase. 3

4 What s new in 2018? Diabetic prevention program SilverSneakers fitness program replaces Silver & Fit Physical exams, whenever medically necessary Resources for Living program 4

5 Aetna s Medicare Advantage Plans Aetna provides 4-star rated group Medicare Advantage health plans. Aetna leads national competitors with 87% of members in 4+ out of five (5) star plans. 5

6 How Medicare Advantage Plans Work Aetna is your primary insurance Aetna provides Medicare Parts A & B benefits You use one Aetna card You still get your Medicare card & you still pay Part B premium Your costs are simplified No plan deductibles and no Medicare Parts A & B deductibles You get extra benefits Annual eye & hearing exams, SilverSneakers, Resources for Living Benefits available to employee (retiree), spouse and eligible dependents 6

7 2018 Medical Plans CHOOSE ONE MEDICAL PLAN Medicare Advantage Premium Medicare Advantage Plus Medicare Advantage Standard Plan Deductible $0* $0* $0* Medicare Deductible $0 $0 $0 Primary Care $15 copay * 15% coinsurance in-network Specialist $15 copay * 15% coinsurance in-network $15 copay in-network $40 copay in-network Hospital Covered 100% $500 per admission in-network $200 per day (1-7) in-network Preventive Care Covered 100% Covered 100% Covered 100% Out-of-Pocket Limit $2,000 * $2,750 (in-network) $5,500 (out-of-network) $6,700 (in-network) $10,000 (out-of-network) *In- and out-of-network NOTES: The ESA-PPO Plan has the same benefits as the In-Network PPO Plan. 7

8 2018 Part D Drug Plans CHOOSE ONE Rx PLAN Rx Premium Rx Plus Rx Standard Open Formulary Open Formulary GRP B2 Formulary Deductible: $100 Deductible: $100 Deductible: $310 Initial Coverage Limit: 15% generic, 25% preferred brand, 40% non-preferred brand Initial Coverage Limit: 15% generic, 25% preferred brand, 50% non-preferred brand Initial Coverage Limit: 15% generic, 25% preferred brand Coverage Gap: Same coverage, same coinsurance level Catastrophic Coverage: 100% coverage, you pay nothing Coverage Gap: 15% copay for Tier 1 generic drugs, 35% brand Catastrophic Coverage: 95% coverage, you pay 5% Coverage Gap: 44% generic 35% brand Catastrophic Coverage: 95% coverage, you pay 5% The Medicare Coverage Gap Discount Program will continue to provide manufacturer discounts on brand name drugs to Part D beneficiaries who reach the Coverage Gap and are not already receiving Extra Help. A 50% discount on the negotiated price of preferred and non-preferred brand drugs (excluding the dispensing fee) will be available from manufacturers that have agreed to provide the discount Standard drug plan deductible on the individual market: $405, Initial Coverage limit: $3,750, True-Out-Of-Pocket Threshold: $5,000 8

9 2018 Dental Plan Optional Preventive Service 100% coverage Annual Deductible (basic and major services) $100 Basic Services Coverage (fillings, standard crowns, extractions) Major Services Coverage (root canal therapy, surgical removals, dentures) 50% 50% Annual Benefit Maximum $1,500 NOTES: 1.Twelve month waiting period applies for major services, but may be waived with evidence of continuing coverage. 2.One-time only opt-in opportunity. 3.Dental is only available when you enroll in a combination Medical/Rx coverage, or elect the stand-alone Rx Standard Plan 4. Please note: in the states of CA, OR, WA, the stand-alone Dental plan may be elected if the participant is enrolled in a Kaiser Permanente MAPD Plan, and with evidence of existing coverage. 5. Dental not available in MD. 9

10 Choosing Your Coverage Jim has a chronic medical condition. He takes 3 brand drugs, sees a specialist twice a year, and is sometimes in the hospital. Consider: Medicare Premium Plan Rx High Plan Mary is generally pretty healthy. She takes 2 generic drugs, gets her annual check-ups, and sees a specialist once a year for allergies. Consider: Medicare Standard Plan Rx Standard Plan For illustration purposes only. Emeriti does not provide advice about health insurance plans. 10

11 Next Steps CURRENTLY ENROLLED IN SRM PLAN K OR L? DO NOTHING & BE DEFAULTED INTO MEDICARE ADVANTAGE PREMIUM PLAN - OR ENROLL IN THE MEDICARE ADVANTAGE PLAN OF YOUR CHOICE You have some important decisions to make WE RE HERE TO HELP YOU EVERY STEP OF THE WAY CURRENTLY ENROLLED IN MEDICARE ADVANTAGE? DO NOTHING & BE DEFAULTED INTO THE SAME PLAN YOU HAVE RIGHT NOW - OR ENROLL IN THE MEDICARE ADVANTAGE PLAN OF YOUR CHOICE 11

12 Not Sure What Plan Is Best For You? CALL AETNA SPECIALISTS VOR PERSONALIZED COUNSELING

13 Providing choice, convenience and flexibility National group plans follow you wherever you live in the U.S. Private, one-on-one counseling services help you choose the plan that s right for you Easy online and telephone enrollment Plans available with no network restrictions Keep or choose any doctor who accepts Medicare and Aetna Medicare Advantage Change plans each year without paying more or getting turned away because of a preexisting condition 13

14 Emeriti s Open Enrollment Timeline Early October Retiree newsletter mailed Early November Insurance enrollment kit mailed Nov 13 Dec 6 Open enrollment 14

15 When to Enroll EMERITI OPEN ENROLLMENT DATES EMERITI SERVICE CENTER READY TO PROCESS YOUR ENROLLMENT NOV 13 DEC 6 15

16 How To Enroll Call the Emeriti Service Center , press #1 Enroll online MyEmeritiBenefits.org 16

17 Visit The New Emeriti Website EmeritiHealth.org Built on TIAA s platform Easier to navigate Easily download materials & calculate premiums 17

18 Working Together Emeriti and TIAA are working together to connect health and financial well-being 18

19 ThankYou FOR JOINING US 1 9

20 Addendum 20

21 How Primary Care Charge Works Medicare Advantage Premium Medicare Advantage Plus Medicare Advantage Standard Primary Care Charge $200 $200 $200 Medicare Pays $0 $0 $0 Aetna Pays $185 $170 $185 You Pay $15 copay (in- and out-of-network) $30 coinsurance (in-network) $15 copay (in-network) 21

22 Emeriti, TIAA, CBIZ Savitz, Aetna Life Insurance Company, and HealthPartners are independent corporations and are not legally affiliated. The full name of Emeriti Retirement Health Solutions is The Emeriti Consortium for Retirement Health Solutions, an Illinois Nonprofit Corporation. Emeriti Retirement Health Solutions is not an insurance company, insurance broker or insurance provider. The Emerti Program is delivered in collaboration with TIAA, CBIZ Savitz, Aetna Life Insurance Company, and Health Partners.CBIZ Savitz is Emeriti s disbursement record keeper for Emeriti group insurance administration and Emeriti medical expense reimbursement processing. CBIZ Savitz is a Philadelphia company with more than forty years of experience in full-service benefits services supporting employees and retirees in organizations nationwide. Teachers Insurance and Annuity Association of America (TIAA) is Emeriti s accumulation record keeper, trust services provider, and investment manager. TIAA is based in New York and has nearly one century of distinguished service to the non-profit community for financial services supporting retirement income security. Aetna Life Insurance Company is the primary health insurer for the Emeriti Program, providing fully insured medical insurance and healthrelated products. For over 150 years, Aetna has been an innovator in the delivery of insurance solutions and is a nationwide provider of Medicare-approved Part D prescription drug services. For Minnesota institutions and their Minnesota-resident retirees, HealthPartners provides participants with medical insurance and health-related products. HealthPartners is the largest consumer-governed nonprofit health care organization in the nation. 22

23 tiaa.org Interests in any retiree healthcare plan discussed herein are offered solely by the employer. Teachers Insurance and Annuity Association of America (TIAA) will provide services to the plan and may issue plan communications on behalf of the plan sponsor, in its capacity as a plan record keeper. TIAA Individual & Institutional Services, LLC serves as a broker-dealer with respect to underlying mutual funds only, and does not offer, market or sell interests in such plans or otherwise provide broker-dealer services with respect to the interests in such plans. TIAA products may be subject to market and other risk factors. See the applicable product literature, or visit TIAA.org for details. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. TIAA group of companies cannot and does not provide tax or legal advice and recommends that plan sponsors consult their own legal and tax advisors for such advice. By communicating the information contained in this material, neither TIAA nor Emeriti are providing impartial investment advice or giving advice in a fiduciary capacity regarding any investment by, or other transaction of, the plan(s). TIAA and Emeriti are acting solely in a sales capacity with respect to an arms-length sale, purchase, loan, exchange or other transaction related to the investment of securities or other investment property. FOR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR USE WITH OR DISTRIBUTION TO THE GENERAL PUBLIC Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA), 730 Third Avenue, New York, NY