2017 Benefits Open Enrollment

Transcription

1 2017 Benefits Open Enrollment Benefits Open Enrollment Is October 31 November 11, Ready to Choose? As recently announced by President Zach Green, Colas Inc. continues to align aspects of its business. At Delta Companies, we are making changes to our benefits for both consistency across Colas USA and to give you more benefit options. These changes allow us to take advantage of our collective population and buying power, as well as streamline our benefits administration. With our new approach, we will be able to provide a high-quality and costeffective set of benefits that will offer you greater choice and flexibility to choose the plans that best meet the needs of you and your family. In this newsletter, you will find a preview of what is new for We encourage you to use this newsletter and the 2017 Benefits Open Enrollment Guide, which will be provided to you in the coming weeks, to learn about your new benefit options and make informed decisions during this year s Benefits Open Enrollment. Please keep in mind that you will need to actively make an election for most of your benefits if you wish to have coverage in 2017 (enroll or decline). As in every year, if you wish to contribute to a Flexible Spending Account, you will need to elect your 2017 contribution amount during the enrollment period. If you have any questions, please attend one of the many Benefits Open Enrollment meetings scheduled during the last week of October and the first week of November. For more information, contact Human Resources at or hr@deltacos.com. WHAT S INSIDE 2 YOUR 2017 MEDICAL BENEFIT OPTIONS 4 MEDICAL PLAN OPTIONS AT-A-GLANCE 5 A CLOSER LOOK AT THE HIGH DEDUCTIBLE HEALTH PLAN 7 YOUR 2017 DENTAL AND VISION OPTIONS 8 YOUR 2017 FLEXIBLE SPENDING ACCOUNT AND HEALTH SAVINGS ACCOUNT OPTIONS Pave the way to choosing well 2017 BENEFITS OPEN ENROLLMENT 1

2 Your 2017 Medical Benefit Options During this year s Benefits Open Enrollment, you will have more choices than ever before: two PPOs (Preferred Provider Organization) and an HDHP (High Deductible Health Plan). The following table compares the PPOs with the HDHP to help you understand what s the same and how they differ. What s the Same Covered services. All of the medical plan options cover the same services from preventive care to hospitalization and beyond. What s Different Lower contributions. Because the HDHP has a higher deductible than the PPO plans, it will cost less per paycheck. See the graphic on the next page for an illustration. Choice of providers. The same network of providers is available for all options and you have the freedom to receive care from any licensed provider even if they are not in-network. Generally, you pay less when you receive care from providers who participate in the Blue Cross Blue Shield network. Higher deductible. With the HDHP, you have a higher deductible to reach before the plan begins to pay for covered services, including prescription drugs and physician office visits. It is important to note that preventive care is not subject to the deductible. Responsibility for the deductible. You must meet the applicable annual deductible before the plan begins to pay for certain health care expenses. True family deductible. If you elect to cover dependents, you must meet the entire family deductible before the plan starts to pay benefits for any individual family member. This is different from the PPO plans, where each covered family member needs to satisfy only the individual deductible. Preventive care coverage at 100%. When you use an in-network provider, you pay nothing for preventive care services no deductible, and no copay. Prescription drug coverage. Prescription drug expenses are subject to the plan s deductible, which is unlike the PPO plans where there is no deductible for prescription drug expenses. Your out-of-pocket prescription drug expenses count toward the HDHP s out-of-pocket maximum, as well. Cost protection. Once you meet your deductible, the plan pays a percentage of the cost of covered services, and you pay the remaining percentage (the coinsurance) or copays until you reach the annual out-of-pocket maximum. Then, the plan pays 100% of covered expenses for the rest of the calendar year. Health Savings Account (HSA). You can pay for qualified health care expenses using pretax dollars. Delta Companies will contribute annually to the account and you may also contribute to this account, up to IRS limits. Money in your HSA can be carried over from year to year and is always yours to keep. Learn more about the HSA on page BENEFITS OPEN ENROLLMENT

3 Your 2017 Flexible Spending Account and Health Savings Account Options During this year s Benefits Open Enrollment, you may elect to contribute to a Flexible Spending Account (FSA) or Health Savings Account (HSA), depending upon which medical option you choose. You may also contribute to a Dependent Care FSA to help you pay for out-of-pocket costs for child or elder care. Decide Which Account Is Right for You To help you decide whether you would like to participate in an HSA, a Health Care FSA, or a Dependent Care FSA, we have included the table below so that you can learn about the key features of each. Eligibility Employer Contribution Maximum Annual Contribution HSA Health Care FSA Dependent Care FSA Only employees enrolled in Employees enrolled in either Any employee, regardless of the HDHP PPO, or those without coverage medical plan participation Individual: $500 N/A N/A Family: $1,000 Employee only: $3,400 $2,550 $5,000 All other coverage levels: ($2,500 if married and filing $6,750 (additional $1,000 for separately) employees over age 55) Eligible Expenses Earns Interest Tax-Free Carryover or Grace Period for Unused Funds Ability to Take the Account with You if You Leave Access to Contributions Note: The maximum contribution includes what you and Delta Companies contribute. Qualified health care expenses (including medical, prescription drug, dental, and vision) Qualified health care expenses (including medical, prescription drug, dental and vision) Yes No No Yes, full amount of what remains in your account You have until March 15, 2018 to use the funds in your FSA. After May 31, 2018, all unused funds will be forfeited. Yes Yes, if you elect COBRA No Current account balance only Entire amount elected for the year Expenses for care provided to your eligible family members* during the hours that you and your spouse are working, looking for work or attending school full-time You have until March 15, 2018 to use the funds in your FSA. After May 31, 2018, all unused funds will be forfeited. Current account balance only *Your dependent care expenses must be for qualified individuals, including your dependent child under the age of 13 who lives with you for more than half the year, and your spouse or other tax dependent who is physically or mentally incapable of self-care and lives with you for more than half the year BENEFITS OPEN ENROLLMENT 3

4 Medical Plan Options At-a-Glance PPO-1 (Red) PPO-2 (White) HDHP (Blue) In-Network Out-of-Network In-Network Out-of-Network In-Network Out-of-Network Deductible (Single/Family) Out-of-Pocket Maximum (Single/Family) $500/$1,000 $1,000/$2,000 $750/$1,500 $1,500/$3,000 $1,500/$3,000 $3,000/$6,000 $1,000/$2,000 $2,000/$4,000 $3,000/$6,000 $4,500/$9,000 $4,000/$6,850 $6,000/$12,000 Medical Services Preventive Care Covered at 100% 30%* Covered at 100% 40%* Covered at 100% 40%* Primary Care Physician (PCP) Visit $15 30%* $20 40%* $30* 40%* Specialist Visit $25 30%* $35 40%* $60* 40%* Emergency Room Visit $250 $250 20%* 20%* 20%* 20%* Outpatient Surgery 10%* 30%* 20%* 40%* 20%* 40%* Inpatient Hospital 10%* 30%* 20%* 40%* 20%* 40%* Prescription Drugs Retail Generic Preferred Brand Non-Preferred Brand $10 $20 $40 $10 $20 $40 $10* $25* $50* Mail Order Generic Preferred Brand $20 $40 $20 $40 $20* $50* Non-Preferred Brand $80 $80 $100* *After deductible has been met. Note: In-network reimbursements are based on prenegotiated rate. Out-of-network charges are based on allowable amounts BENEFITS OPEN ENROLLMENT

5 A Closer Look at the High Deductible Health Plan To help you understand how the HDHP works, think of the plan as a house with a solid foundation (preventive care) and a sturdy roof (an out-of-pocket limit to protect against the high cost of health care). From the foundation to the roof, you are protected for the cost of routine preventive care that you need to stay well, and from the high cost of care if you have a serious illness or injury. In between is the care you need for most illnesses and injuries. As with all plans, both you and Delta Companies share the cost of this care. - The first floor represents the deductible: the first out-of-pocket expenses you pay, including non-preventive prescription drug expenses. Contributions you and Delta Companies make to your HSA can help offset the cost of this deductible. Find out more about the HSA on page 6. - The second floor is coinsurance: the percentage of the total cost of care that you pay up to the out-of-pocket maximum. Once the deductible and coinsurance reach the out-of-pocket maximum, the plan pays 100% of any additional eligible expenses for the year, both for medical care and prescription drugs. Plan Pays Roof Out-of-Pocket Maximum You pay deductibles and coinsurances until you reach the out-of-pocket maximum for the year. Then the plan pays 100% for covered in-network medical expenses. You pay nothing. Shared Cost You Pay 2nd Floor 1st Floor Coinsurance Deductible Once you meet the annual deductible, you share in the cost of services by paying coinsurance. You can use the money from your HSA to pay these amounts. HEALTH SAVINGS ACCOUNT (HSA): A tax-advantaged savings account that you and the company can contribute to. You may use your HSA to meet your deductible and pay for copays and coinsurance, until you reach your out-of-pocket maximum. Or, you can save it for future health expenses. You pay the full cost of covered services up to the deductible. You can use money in your HSA to satisfy the deductible. Plan Pays Foundation Preventive Care (100%) The plan provides preventive care, such as annual physicals, certain prescription drugs, and screenings, at no cost to you when you use an in-network provider BENEFITS OPEN ENROLLMENT 5

6 How the HSA Works START IT Enroll in the HDHP and open your HSA. If you already have an HSA, you can also transfer funds to this HSA! BUILD IT Add to your account with your own pre-tax contributions, up to IRS limits. Delta Companies also contributes to your HSA: $500 toward individual coverage, and $1,000 toward family coverage! USE IT Use HSA funds to pay for covered health care expenses for yourself and your eligible dependents. GROW IT Any unused money in your account will roll over to the next year. Your account will earn interest and grow over time. KEEP IT You always own the money in your HSA. You can take the account with you if you retire or leave Delta Companies. The Triple Tax Advantage of the HSA When you contribute to and use an HSA, you gain valuable tax advantages. Money goes into your account tax-free Money grows tax-free through interest and investment earnings Money stays tax-free when you spend it on eligible health care expenses You contribute pre-tax dollars, which helps reduce your taxable income. Your account balance earns interest tax-free. And, once you have a minimum balance ($1,000), you can choose from a variety of investment funds available to maximize your balance. When you withdraw funds, it is tax-free, as long as you use the funds for eligible medical, dental, and vision expenses. Remember: The HSA is only available to employees who enroll in the HDHP and can only be used for eligible health care expenses. If HSA funds are used for any other purpose, they will be taxable and subject to an additional penalty. Make sure you keep receipts and records of any payments made in the event you are audited by the IRS BENEFITS OPEN ENROLLMENT

7 Your 2017 Dental and Vision Options In 2017, you will have access to dental coverage through Delta Dental of New Jersey and vision coverage through VSP. Dental Our dental plan through Delta Dental offers comprehensive coverage and services so that you and your family can get the care you need. Remember, preventive care (subject to frequency limitations), like cleanings and X-rays, is at no additional cost to you. Review the chart below for additional details and see the 2017 Benefits Open Enrollment Guide for more information, including which services apply toward the deductible, the oral enhancement benefit, and the carryover maximum. Delta Dental Deductible (Individual/Family) $50/$100 Annual Benefit Maximum (Per Person) $2,000 Preventive and Diagnostic Covered at 100% Basic Restorative 80% Major Restorative 50% Implants 50% Orthodontia (Child and Adult) 50% Orthodontia Lifetime Maximum $2,000 Vision Our vision coverage through VSP provides affordable eye care for you and your family, to help you stay well. All benefits described in the chart below are covered every calendar year. See the 2017 Benefits Open Enrollment Guide for information about additional services and discounts. VSP Provider Out-of-Network Provider Exam $20 copay Up to $50 Prescription Glasses $20 copay Up to $20 Frames Included in Prescription Glasses; $150 allowance with 20% savings on the amount over the allowance Up to $70 Lenses Single Bifocal Trifocal Lens Enhancements Tints/Photochromic Standard Progressive Premium Progressive Elective Contacts (Instead of Glasses) Contact Lens Exam Fitting and Evaluation Covered after $20 prescription glasses copay Covered in full $50 copay $80 - $90 copay $130 allowance Up to $60 copay Up to $50 Up to $75 Up to $100 Up to $5 Up to $85 Up to $85 Up to $105 to be used toward the contact lens exam and materials See Elective Contacts allowance 2017 BENEFITS OPEN ENROLLMENT 7

8 Pay Now or Pay Later Another way to think about the differences among the plans is when you want to pay for care: would you prefer to pay more out of your paycheck and less at the point of care, or less out of your paycheck and more at the point of care? Through Employee Contributions At the Point of Care PPO-1 (Red) PPO-2 (White) HDHP (Blue) Keep in mind that with the HDHP, Delta Companies will contribute to your Health Savings Account (HSA) in January: $500 toward individual coverage and $1,000 toward family coverage. To learn more about the HSA, turn to page BENEFITS OPEN ENROLLMENT 114 South Silver Springs Road Cape Girardeau, MO PRESORTED STANDARD U.S. POSTAGE PAID TPC Return Service Requested