Getting Started with Your Online Benefits Marketplace A guide to shopping for your own personalized benefits package. What s Inside... An Introduction to Your Online 3 Benefits Marketplace Why Shop for Benefits? 5 Enrolling in Your Benefits 6 Changing Your Benefits Selections 7 Visiting Your Marketplace Year Round 8 Things to Keep in Mind 9 Glossary of Important Benefits Terms 11
A Whole New Way to Buy Benefits! This year, we re offering an innovative way for you to select your benefits. It s different than what you might be used to because you get to choose the plans that are best for you from an online marketplace. And, we ll be supplying you with the tools to help make this very important decision. What is Your Online Benefits Marketplace? You are about to enter an online store stocked with a wide variety of benefits options from which you can choose what you need. Through your online benefits marketplace, you will:???? TELL US a little bit about yourself CHOOSE from a variety of products and plans CHECK OUT when you re ready 1
But don t worry, we don t expect you to understand all the different types of benefits available to you or what all those complicated terms mean. The marketplace contains your own personal benefits shopper that will: Ask you a series of questions about yourself and your family to create your profile (think of it as your benefits personality ) Recommend a personalized portfolio of benefits, based on your specific situation The system uses the information you input (e.g., your age, gender, marital status, family size, health background, concerns and needs) to find the best products and plans to protect you and your family and your wallet. Choosing the Best ONLINE BENEFITS? You don t have to take the system s recommendations. You can always start with an empty cart and select any plans you want... but there s a lot going on in the background to help guide the best choices based on your own personal situation. The system is designed to help you through the process so let it work for you and take as much time as you need. 12
Why Shop for Benefits? Your benefits choices should reflect your personal needs. Only you know the benefits that are right for you depending on your own health and wellbeing, goals for the future, and attitudes about risk. We understand this, so we ve opted to let you choose from a broader selection of benefits than you might be used to. That way you get to customize the benefits package to meet your needs. Get more bang for your benefits buck. Just having insurance isn t enough; you need to have the right types of insurance, and the right amount. Through your online benefits marketplace, we re letting you choose the combination of insurance products that s right for you. So this year, you can maximize your benefits budget by buying exactly what you want and nothing you don t need. Rest assured with better financial protection. Benefits are really about having the right financial protection in place to guard against life s unknowns. And while having the right amount of health insurance is the foundation of any solid benefits plan, creating your own benefits portfolio can give you the right amount of financial protection based on your, or your family s, unique situation. By combining different types of benefits insurance products like Life, Disability, Critical Illness, Accident, and other types of specialty benefits you can actually get affordable coverage while increasing your level of protection. So you can rest easy knowing you and your family are taken care of. 3
Enrolling in Your Benefits You ll be receiving your login credentials and web address for our marketplace. When you sign in, you ll be greeted with some introductory information and a welcome video that explains the process but really, it s as easy as 1-2-3. 1. First, you ll enter some basic information about 1 yourself and your dependents (others in your family whom you would like to enroll). Then, you ll create a profile by answering some questions about your health, finances, personality, and lifestyle, as these will all impact your personalized recommendation. 2 Don t worry, any information you input into our system is kept strictly confidential. 2 Next, you ll be able to review the system s recommendations for products and plans that comprise your benefits portfolio. Click on the name of each plan to review the details; even compare plans side by side. 3 3 You ll have the option to accept these plans or continue shopping; then check out and buy your chosen plans. Examples of marketplace questions Here are some examples of the types of profile questions you ll see in the marketplace: Are there certain doctors, hospitals and other health care providers that you want in your network? Yes When you think of the word risk, what comes to mind? Uncertainty No You will receive your insurance cards in the mail directly from your carriers for the benefits that require them. 4
Changing Your Benefits Selections and Savings Account Allocations You have a window of time in which to choose your benefits. At any time during the enrollment period, you can come back to the marketplace and make changes to your selections. Once Open Enrollment is over, you and your family members will be enrolled in your chosen plans and your coverage will go into effect for your new benefits year. However there may be some big events in your life that could qualify for a change in your plans... You can re-enter the system at any time throughout the year to let us know about any significant life events, such as marriage or the birth of a child, which may allow for a change to your benefits selections. Go to your marketplace s Home page, and click on the Things Change section. You may also choose to change the amount you allocate to certain savings accounts you may have been eligible for and selected during the enrollment process at any time throughout the year. These may include a Health Savings Account (HSA) or Transit & Parking Flexible Spending Account (FSA). Getting Married? Add your spouse to your plan! Just log in and click on Things Change, then follow the instructions to provide new or updated dependent information. Once approved and processed, you will receive notification and any new enrollment cards from your carriers. 5
Visiting Your Marketplace Year Round You can also return to your marketplace at any time after Open Enrollment to: 1 2 3 4 Review your benefits details and plan summaries for information on deductibles, copays, out-of-pocket maximums, etc. Update your contact information, if applicable. Update your beneficiaries (those named in your plan who will receive payouts for certain coverage, such as a life insurance policy). Get education on how to use your benefits so you can get the most from them. Did you move? This may require changes to your benefits portfolio. Access the educational hub for articles, videos, FAQs, and a glossary of insurance-related terms. 6
Things to Keep in Mind: Benefits decisions may affect your entire family, so it s a good idea to include your spouse from the outset. You may choose to set aside one evening to enroll in your benefits at home together. The following information will help you to complete the enrollment process: Names, ages and Social Security Numbers of any dependents you may want to cover Information about what other insurance coverage you may already have and who is covered Your marketplace is optimized for the most current and past two versions of the most popular browsers listed below: Internet Explorer Version 9 or higher Google Chrome Mozilla Firefox Safari Version 5.1 or higher Opera Version 15 or higher Make sure your computer s browser is compatible before you enroll in your benefits. 7
All You Need to Know to Get Started with Your Marketplace! Choosing your benefits is a very important decision and we want to help you get the most from it. So keep this guide handy when you log in to your marketplace.?? For any questions about how to use your online benefits marketplace, please click on Contact Us at the top right of the marketplace for assistance. For any questions regarding the benefits products offered, please contact your benefits representative. Ready to get started? Be on the lookout for more information soon including your login credentials. Questions? Contact Us 8
Glossary of Important Benefits Terms Here are some of the important benefits terms and types of insurance coverages referenced in this guide: Accident Insurance Coverage paid to you if you are accidentally injured. Benefit The amount of money (or other types of compensation, such as wellness credits) you receive from an insurance carrier. Benefits Portfolio A comprehensive package of various types of insurance and benefits products that work together to create the best protection based on your individual needs. Coinsurance The amount you pay for services after you meet your deductible. For example, your coinsurance might be 20% of the total charge, while your insurance company pays the other 80%. Copay A flat fee you pay for health care services; your insurer pays the balance. You may have one copay for in-network (e.g., $20) while out-of-network copays might be higher (e.g., $40). Critical Illness Insurance Insurance coverage that pays you cash if you are diagnosed with an illness covered by your plan such as cancer, heart attack or stroke. Deductible The amount you ll pay toward medical expenses before your insurer begins to pay for them. Dependent A qualifying child or relative, including a spouse, who relies on you for financial support. Disability Insurance Cash paid to you by your insurance company in the event that an illness or accidental injury causes you to be out of work for a certain amount of time. Flexible Spending Account (FSA) A tax-advantaged financial account set up through your employer that allows you to set aside a portion from your paycheck to pay for qualified expenses, such as dependent or child care, transit or parking. Money deducted from pay into an FSA is not subject to taxes. Health Savings Account (HSA) A tax-advantaged financial account set up through your employer that allows you to set aside a portion from your paycheck to be used for qualifying medical expenses such as prescriptions, deductibles, and copays. HSAs are only offered in conjunction with qualified high-deductible medical plans. Money deducted from pay into an HSA is not subject to taxes. Hospital Indemnity Insurance Coverage that pays out a set amount for a designated period of time (day, week, month or visit) spent in the hospital due to sickness or injury. Life Insurance A specific amount of money paid to designated beneficiaries in the event of the insured person s death. Online Benefits Marketplace A virtual store, also referred to as a benefits exchange, which enables and facilitates the purchase of health care and other benefits online. Open Enrollment A period of time (usually a few days to a few weeks) in which companies allow employees to choose their insurance coverage for the coming year. Out-of-Pocket Maximum The highest amount you ll pay toward medical expenses in a year including deductibles, copays, and coinsurance, but not monthly premiums. If the out-of-pocket-maximum is met, any further qualified expenses will be 100% covered by the insurance company for the remainder of the year. Premium The specified amount of money you ll pay monthly (usually deducted from your salary each pay period) in exchange for insurance coverage. Specialty Benefits Benefits (sometimes called voluntary, supplemental, or ancillary ) that can be included in a benefits portfolio to achieve the best protection based on an employee s needs. These may include Critical Illness, Accident or Hospital Indemnity insurance, among others. 9