Introduction to Your District Sponsored Benefits

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Evangeline Atkins
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1 Introduction to Your District Sponsored Benefits

2 Benefits Education and Enrollment The Olathe Public Schools Recognizes the importance of benefits within the overall compensation package provided to all of our eligible employees. This year when we reviewed our employee benefit options, we focused not only on providing quality medical plans but also on controlling the cost and financial risk for our employees while offering multiple options to meet the individual needs of our employees and their dependents.

3 2018 Health, Dental, Vision Insurance Premiums

Benefit Choices 30 days to enroll from your hire date. You can go ahead and enroll prior to your hire date Medical Effective Date first of the month following hire date.

4 Benefit Choices 30 days to enroll from your hire date. You can go ahead and enroll prior to your hire date Medical Effective Date first of the month following hire date. 4 plan options 3 PPO health plans 2 different networks 1 HMO plan Dental- Effective Date first of the month following hire date. 2 plan options Vision- Effective Date first of the month following hire date. Supplemental Insurance Coverage- Effective Date first of the month following hire date. Life Insurance Short term disability Accident Insurance Cancer Insurance Flexible Spending Account (Medical Reimbursement)

Insurance Benefit Incentives 2700 Blue Select Plus plan $140.00 per mo.

5 Insurance Benefit Incentives 2700 Blue Select Plus plan $ per mo. into a HSA (Health Savings Account) Employee benefit premiums are pre-tax (except life insurance) Participation in Wellness Program can result in lower health insurance premium.

6 Medical plan Overview Health Insurance through Blue Cross Blue Shield of Kansas City. In Network-You pay less, Blue Cross/Blue Shield pays more for services. Out-of-Network- You pay more, Blue Cross/Blue Shield pays less for services. 2 different network options in the PPO Blue Select Plus (lower costs, narrow provider options) Preferred Care Blue(higher cost broader provider options) Review provider choice to determine which network is right for you

7 Medical plan $2700/INDIVIDUAL,$5400/FAMILY QHDP Why people choose this plan HSA qualified, provides long term savings opportunities For Blue Select Plus coverage, the District contributes $ (Jan-Dec amount) annually to the HSA NOTE: The the district provides begins on the first of the month your benefits begin. September 1 effective date you would receive September through December deposits equaling for the year. 100% in-network coverage after deductible Wellness visits covered at 100% Attraction to this plan, employees with minimal health issues, however employees with known health issues can choose this plan as well. (Qualified High Deductible Plan) Considerations HSA is the most tax-favored vehicle to fund health expenses Cheapest premium paid plan How to Reduce deductible exposure with supplemental insurance

8 Medical plan $1500/INDIVIDUAL,$3000/FAMILY PPO Why people choose this plan 100% in-network expenses after deductible has been met Wellness visits covered at 100% Lowest out-of-pocket maximum for employees with known health issues, however employees with minimal health issues can choose this plan as well. Considerations Can utilize Flexible Spending Account (FSA) for expenses. How to Reduce deductible exposure with supplemental insurance

9 Medical Plan - $1000/INDIVIDUAL,$2000/ FAMILYPPO Why people choose this plan 100% in-network expenses is paid towards deductible, BCBS pays 90% in-network coverage after deductible met employee owes 10% until $5000 is met (ex: for individual) than BCBS will pay 100% the remainder of the year. Copays provide consistency for employees who use the plan mainly for prescriptions or physician office visits Wellness visits covered at 100% Separate prescription drug deductibles $200 per individual, $400 per family must be met for prescriptions before paying copays. Considerations Determine if deductibles and copays actually help overall savings compared to payroll deductions. Can utilize Flexible Spending Account (FSA) for expenses. How to Reduce deductible exposure with supplemental insurance

10 Medical plan HMO BLUE CARE PLAN Why people choose this plan Copays provide consistency for those with health conditions Primary Care Physician has to be chosen. Self refer if doctor is in network Out of Pocket Maximum met, $3500/individual, $8750/family no longer have to pay copays Considerations No out-of-network usage Separate prescription drug deductibles must be met for prescriptions before paying copays. Determine if deductibles and copays actually help overall savings compared to payroll deductions Can utilize Flexible Spending Account (FSA) for expenses

11 Health Savings Account (HSA) - Overview HSA is available only when you enroll in the $2700 PPO and meet the eligibility requirements, can help with out-of-pocket medical, dental and vision expenses (if used for dental and vision expenses does not apply towards health insurance deductible) This is not a stand alone plan Tax-free contributions under Section 125. Money in the account earns interest tax free, and distributions are tax free when used to pay for qualified expenses IRS Maximum, $ per individual, $ per family. $ a year catch up for age 55 and over. Funds roll over year to year, you never lose the money. The money has to be in the account to use it. Account ownership, and long-term savings Automatic Debit Card Administered by UMB Bank (don t forget to open your HSA account when you enroll)

12 Flexible Spending Account (FSA) Overview Flexible Spending Account (FSA) is an account that can help with out-of-pocket medical, dental and vision expenses (if used for dental and vision expenses does not apply towards health insurance deducible) Can be used as a limited flexible spending account (QHDP) A full purpose with 1500, 1000, HMO plans Stand alone plan Tax-free contributions for qualified expenses IRS Maximum $ per year. If you don t use the money you lose the money (70 day grace period) Money is front loaded. Complimentary debit card available You will need to still submit receipts to American Fidelity for proof of service. Administered by American Fidelity Assurance

13 Dependent Day Care-Overview Used to reimburse eligible dependent day care expenses incurred while you are working. Can elect up to $ pre tax per calendar year, or $ if you are married and file a separate tax return. Certain eligibility requirements and who has a qualifying dependent. After-school care, or extended day care programs Babysitter, during work hours, inside or outside participants household. Custodial or elder care expenses if the qualifying individual still spends at least eight hours each day in the employees household. CONTACT AMERICAN FIDELITY AT OR A TAX ADVISOR FOR FURTHER INFORMATION AND RECOMMENDATIONS.

14 Dental plan Overview Two dental options through Delta Dental of Kansas Plan covers 100% of preventive (cleanings), 90% of basic (standard fillings) and 50% of major restorative (bridges, crowns) Maximum benefit of $1000 per year of covered services per family member. Plan with orthodontia coverage for dependent children under age 19 through participating providers (work in progress is not paid for) 50% of orthodontia expense $1000 per beneficiary per lifetime Both plans provide a benefit for any dentist Premier PPO network, or non-network Costs may be different for procedures based on network participation

15 Vision plan Overview Insured through VSP Benefits are $10 copay for exam every 12 months $25 copay for materials Up to $130 frame allowance once every 24 months OR Up to $130 contact & contact fitting fee allowance every 12 months Various lens allowances (dependent on type of lenses) once every 12 months Providers through the VSP signature network

16 Disability plan Overview KPERS offers long-term disability coverage at no cost Coverage starts after 6 month waiting period Short-term disability insured through American Fidelity Guaranteed issue as a new hire (12 month look back for pre-existing, than will pay for pre-existing) Employee chooses elimination period 8, 15, 31 days Provides employees compensation of 66% - 70% Coverage can last for a maximum of 6 months District sick leave can be used in addition to short-term disability Premium figured by your annual income

17 Life Insurance plan Overview KPERS offers life insurance of 1.5 x s annual salary while you are working Group term insured through Lincoln National Life Guaranteed issue at time of hire (within 31 days of employment no medical questions) Employee coverage is lesser of $150K or 7 x s annual salary (under age 60) Spouse coverage is lesser of $50K or 3.5 x s annual salary (under age 60) Child coverage is $10K for $2.00 mo, for as many children as you insure. Children have to be under the age of 19 to insure. Employee must elect coverage for spouse, child/ren to be eligible. Premium figured by your age

18 Accident plan Overview Insured through American Fidelity Provides cash benefit in the event of a covered accident Payment made to policy holder Benefits can be used for medical related expenses Three levels of coverage Basic, Enhanced, Enhanced Plus (the less you pay, the less benefit you get, the more you pay, the more benefit you get) Individual and family coverage options

19 Cancer plan Overview Insured through American Fidelity Provides cash benefit in the event of Cancer Benefit is paid regardless of medical coverage Payment to the policy holder for screening, treatment, and related cost of care Monetary Preventative Care incentive Two plans Basic, Enhanced (the less you pay, the less benefit you get, the more you pay, the more benefit you get)

20 403B/457 Retirement Investment Plans-Overview The 30 day rule to enroll in benefits does not apply to the Retirement Investment Plans. You can enroll in this benefit anytime you would like during the year. Points of Interest Save for Retirement. Higher Rate of Return than a Savings Account. 403B s and 457 s are pre-tax. Roth 403 B & Roth 457 B is after-tax. Federal Law limits Third Party Administrator is OMNI U.S. Employee Benefits Service Approved Vendors/403 B plans Customer Support Services 457 Plan Valic Financial Advisors

21 Making a decision District is providing resources to help you make an informed decision Website Click on Our District Click on Departments Click on Human Resources Click on Benefits Info 2018

22 Important things to remember Review networks available under the health insurance before making your selection Preferred Care Blue broadest provider options Blue Select Plus narrow network options Must enroll within 30 days Failure to enroll within 30 days will result in no coverage for the remainder of the current calendar year You will enroll twice this year, now as a new hire and at the open enrollment period in November with an effective date of January 1, Remember to complete the wellness incentives (health screening and health risk assessment) in the summer or fall to get the health insurance discount for No changes will be made to elections during the calendar year Unless you experience a qualifying event (check first with the benefits department, can be some caveats to IRS regulations)

24 ADDITIONAL INFORMATION Wellness 2018 Legal Notice Affordable Care Act Notice COBRA Notice Medicare Part D Notice

2017 Benefits Open Enrollment

2017 Benefits Open Enrollment Benefits Open Enrollment Is October 31 November 11, 2016. Ready to Choose? As recently announced by President Zach Green, Colas Inc. continues to align aspects of its business.