2017 Annual Enrollment

Transcription

1 ENROLLMENT GUIDE FOR UTAS ROCKFORD EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT RATIFIED IN Annual Enrollment This year s Annual Enrollment will look and feel new, but the goal is the same a successful enrollment and a healthy you! Prepare to Enroll Communications Tailored For You page thumbnail Use this guide as a roadmap Explore more online Enroll when it s time! Get the scoop on Healthy You Brush up on benefit basics Check out our innovative benefits See it all and get more details Complete the enrollment process on Your Gateway during your enrollment period from anywhere on a smartphone, tablet or computer! 1 Enrollment Time Enrollment Starts Enrollment Ends Monday, October 10 Friday, October 21, 9:00 p.m. ET

2 What s New What s New Here s a summary of the changes taking effect January 1, Better enrollment experience New and improved Medical changes Mobile first design. Use your smartphone or tablet to enroll, make changes and chat with a Benefits Center Representative wherever you are! You can still enroll from your work or home computer if you want. New look. You ll see all your benefit choices on a single page, including your current elections and 2017 options. Whatever being healthy means to you, we re committed to helping you achieve it. So we ve taken your feedback and improved Good Health Incentives so that it benefits ALL of you mind, body and wallet for a healthy you. Fewer deadlines. Good health is an ongoing journey so you don t have to sign up during Annual Enrollment. With no activity-specific deadlines, you can complete activities when it s convenient for you. More choice. Choose from activities that help you mind, body and wallet. No spousal requirement. You and your spouse (if enrolled in UTC medical) each earn rewards on your own. The rewards you asked for. There s HSA contributions, gift cards to stores like Amazon, Target and Nike, and giveaway drawings. These replace the medical premium discount and debit cards that were available in Look for more information in December. New HDHP option. One new HDHP option will be added to your current offerings, giving you three HDHP choices and you continue to have one with no paycheck premiums for individual coverage (HDHP Option 3). Your Gateway shows all of your 2017 deductible, out-of-pocket maximum and premium amounts. Move to all HDHP plans. HDHPs are the right fit for UTC employees and the company, so we re offering only HDHP options in These options: Give you more control over your health care dollars. Offer a smart way to save for future health care expenses through a triple tax-advantaged Health Savings Account (HSA). Help manage health care costs for you and the company. BYO and HDHP coverage defaults if you don t actively enroll during Annual Enrollment: Current Coverage Default Coverage for 2017 BYO Option 1, 2 or 3 HDHP Option 1 HDHP Option 1 HDHP Option 2 HDHP Option 2 HDHP Option 3 2

3 What s New Prescription drug changes HSA maximum increase Premiums New prescription drug administrator. Prescription drug benefits under the HDHPs will now be administered by CVS/caremark, instead of your health plan vendor. If you enroll in an HDHP for 2017, you will receive a separate ID card to use when purchasing prescription drugs. Every effort will be made to automatically transfer your current mail-order prescriptions to CVS/caremark. CVS/caremark offers discounts at thousands of pharmacies around the country, such as Rite Aid, CVS and Eckerd. You can fill your prescription at any of these pharmacies or through the mail-order service. Waived deductible for certain preventive medications under all three HDHP options. This means the HDHPs will pay benefits for certain preventive medications before you meet the deductible. Go to Your Gateway for the preventive drug list. Or contact CVS Caremark Customer Care to find out if any of your medications are on the preventive drug list. Mandatory generic prescription drug policy. Under the HDHP options, if a physician prescribes a brand-name drug when a generic equivalent is available, you must pay the generic coinsurance plus the difference in cost. This applies even if your physician indicates no substitutions on your prescription. Note: The cost difference between the brand-name drug and the generic drug will not be applied toward the deductible or medical out-of-pocket maximum. Contribution maximum for you only HDHP coverage increases by $50 to $3,400. Other HSA limits are staying the same for 2017: $6,750 for you plus one or more dependents and $1,000 in catch-up contributions for those 55 or older. Visit Your Gateway to review 2017 premium amounts to ensure you are aware of any changes when compared to 2016 amounts. 3 Want more information? Choose a video or PDF. What s New How to Enroll Good Health Incentives

4 Your 2017 Options Your 2017 Options UTC has a lot to offer. This guide summarizes some of your choices with more details available during your online enrollment. Medical You have a choice of three HDHP options. Deductible Medical Coinsurance Medical Out-of-Pocket Maximum HDHP with HSA Medical and Prescription Drug Coverage Option 1 Option 2 Option 3 You Only $1,500 $2,200 $3,200 You + Family $3,000 $4,700 $6, You Only $1,500 $2,200 $3,200 You + Family $3,850 $5,400 $6,450 = = = You Only $3,000 $4,400 $6,400 You + Family $6,850 $10,100* $12,900* * $6,850 is the most that one covered family member will have to pay toward the in-network deductible and/or coinsurance combined. If a covered family member reaches that amount, UTC will pay 100% of covered in-network services for that individual for the rest of the year. 4 Need more details about your plan options and how an HDHP works? Choose a video or PDF. Understanding My Annual Medical Costs HDHP FAQs HDHP Preventive Rx List Want financial protection to help with medical costs? If you feel your HSA may not cover all your out-of-pocket expenses in case of a serious illness or accident, UTC offers Critical Illness Insurance and Accident Insurance to help out.

5 Your 2017 Options Weekly Paycheck Premiums If your base pay is more than $30,000 (more than $14.43 per hour) HDHP Option 1 HDHP Option 2 HDHP Option 3 You Only $19.40 $9.30 $0.00 You + Spouse $60.30 $29.80 $11.10 You + Child(ren) $44.80 $22.30 $8.70 You + Family $85.50 $46.60 $19.90 Did you know You can video chat with a medical doctor or psychologist from your tablet or smartphone with Doctor On Demand. It saves time and money! You can get a free, expert second opinion on your treatment or diagnosis from the country s top physicians with Best Doctors. UTC s Autism Coverage offers comprehensive benefits for individuals on the autism spectrum. Watch these videos and see what other people consider as they make their choices. Alison, mother of three trying to manage expenses. Henry, preparing for retirement. 5

6 Your 2017 Options Tax-Advantaged Accounts UTC s tax-advantaged accounts help your hard-earned money go farther. Did you know HelloWallet can help you improve your saving and spending habits with tools that show you what you spend your money on each month. If you are enrolled in Medicare or TRICARE, or not enrolled in UTC HDHP coverage, you may contribute to a health care spending account. Learn more with the HSAs When You Have Medicare or TRICARE PDF. How can a DCSA help you? Health Savings Account (HSA) Make tax-free contributions (up to annual IRS limits) if enrolled in an HDHP. For 2017: You only: $3,400 You plus one or more dependents: $6,750 Catch-up contributions: $1,000 (for those 55 or older) Make changes to your HSA goal amount during Annual Enrollment or at any time during the year as your needs change Save for future health care costs (such as in retirement) or pay for eligible health care expenses this year Withdrawals are tax-free when used to pay for or reimburse yourself for qualified medical expenses Your money earns interest The money (and interest earned) is yours to keep because it rolls over from year to year Account balances over $1,000 can be transferred to an HSA Investment Account where money can grow over time Dependent Care Spending Account (DCSA) Make tax-free contributions (up to annual IRS limits). For 2017: If single or married and file joint tax return: $5,000 If married and file separate tax returns: $2,500 Set a goal amount during Annual Enrollment no changes during the year unless you experience a life status change Pay for eligible child and/or elder care expenses so that you (and if you re married, your spouse) can work, look for work or attend school full-time Withdrawals are tax-free when used for qualified dependent care expenses You will forfeit any money you don t use by the deadline to reimburse eligible expenses incurred during the year 6 Watch how Ronnie saved using a DCSA. HSAs Learn more about the money you never lose! What Is an HSA? HSA How-to Tax-Advantaged Accounts Infographic Note: HSAs are triple tax-advantaged for federal taxes and most state taxes, which means you never pay taxes on contributions, earnings or withdrawals as long as they are used for eligible health care expenses. Certain states, however, require state taxes to be paid on HSA contributions and/or earnings.

7 Your 2017 Options Dental UTC offers dental coverage to keep your smile bright for a healthy you! Coverage includes preventive, basic and major care, and limited orthodontic treatment. Weekly Paycheck Premiums You Only $4.25 You + Spouse $9.25 You + Child(ren) $10.56 You + Family $15.56 Vision VSP Vision Care provides a wide range of coverage for your vision needs. Eye exams Prescription eyeglasses Contact lenses Learn more. Go to Your Gateway to view paycheck premiums for vision coverage. Disability and Life Insurance Go to Your Gateway to view the disability and life insurance options available to you, and their costs (if applicable). Want other protection? You can purchase optional insurance coverage that provides financial assistance in the event of an accident or serious illness. You can see your premium amounts when you enroll. Accident Insurance Learn more. Critical Illness Insurance Learn more. 7

8 How to Enroll How to Enroll Your 2017 enrollment experience will have a different look and feel. Plus, now you can enroll from your mobile device. What you ll see when you go online to enroll All your benefits choices are on a single page, including your current and 2017 elections. Click View/Change to make changes to the benefits you want, including adding dependents or declining coverage. 8 Your total annual cost for coverage will calculate based on the options you select. Click Complete Enrollment to save your elections. You can come back and make changes anytime before 9:00 p.m. ET on your Annual Enrollment end date. Want to see more? Check out the How to Enroll video.

9 How to Enroll Did you know You can search for in-network medical and dental providers during enrollment (and throughout the year) on Your Gateway. If your spouse is covered under your UTC benefits, you can give him/her access to Your Gateway to view details about your benefit choices. Remember, it s still up to you to enroll to have the UTC benefits you want for 2017.! Enrollment tips Ready to enroll? From any device with internet access your tablet, smartphone or computer go to and enter your User ID and Password. If you re enrolling at work, click on the Your Gateway link found under Pay & Benefits on Employee Self-Service (ESS) on your business unit s intranet page. Know what happens if you don t enroll Your health and insurance elections will roll over from 2016 to 2017 where those plans remain available, including your health and/or dependent care spending account elections. If you re currently enrolled in the BYO, HDHP Option 1 or HDHP Option 2, you will default into the following plan at the same coverage level you have today: BYO Option 1, 2 or 3: HDHP Option 1 HDHP Option 1: HDHP Option 2 HDHP Option 2: HDHP Option 3 If you have an HSA, your HSA goal amount will stay the same. If you don t have an HSA and will have HDHP coverage in 2017, you won t get to benefit from this tax-advantaged account until you open one with PayFlex, UTC s HSA administrator. 9 Are you on autopilot for Annual Enrollment? Learn about the science of deciding. Hear from Brandon how the Healthy Mind resources helped him and Mary throughout the year.

10 How to Enroll Important reminders You ll need to provide Social Security numbers for all dependents you want to cover. Have their numbers handy before you start your online enrollment. If you were hired after September 14, 2016, you ll need to enroll twice to have the benefits coverage you want: Coverage for the remainder of 2016 Coverage for 2017 If you do not actively enroll (in either year), you will default into HDHP Option 1 (individual coverage). To get tax-advantaged savings for your out-of-pocket health care expenses, you must open an HSA online and set your goal amount. 10 Have questions? Chat online with a UTC Benefits Center Representative from 8:00 a.m. to 9:00 p.m. ET, Monday through Friday the fastest way to get help! Find answers to basic questions about Annual Enrollment with these general FAQs. This Enrollment Guide provides an overview of benefits effective January 1, The premiums in this Enrollment Guide may change during the year in accordance with your applicable collective bargaining agreement. If there is any discrepancy between this Enrollment Guide and the official plan documents, the official plan documents will govern.