Benefits Education Session New Team Member Experience
Today s Objectives Review Key New Hire Enrollment Information Review Benefits Overview and Considerations Share Resources and Answer Questions
New Hire Enrollment Key Dates Hire Date Review the online benefit guide Monday after hire Log in to enroll in benefits 1 st day of the 2 nd pay period Your benefit selections are effective If you do not enroll within 30 days of your hire date, you will not have benefits in 2017 unless you experience a qualifying event.
Benefits Website TotalRewardsBenefits.com Find the information you need quickly. Works on all devices. Fast access to HRA, HSA, Dental, Wellness (myhealth Rewards), Pharmacy, Flexible Spending, FAQs and more
How to Enroll TotalRewardsBenefits.com Click on Enroll Now in New to Palmetto Health the Monday after your hire date Login with your Employee ID Your password is the last four digits of your social security number. Complete your enrollment within 30 days of your hire date
You Have Important Decisions to Make What medical plan is best for me and my family? How much should I save in a tax-advantaged HSA or FSA? What other benefits make sense for me? How do I actually use my benefits?
Planning Predicting the future is impossible. However, a good plan might include: getting to know our plan offerings having an information library readily available looking at the past considering worst case scenarios determining what our acceptable level of risk is
Cost and Coverage Palmetto Health pays for the majority of your health care costs. Our plan is self-insured*, which means all employee medical costs are paid from the same pool of dollars. Every time you go to the doctor or have a prescription filled, your covered expenses are paid out of this pool. You share in the cost of the coverage through your premiums, deductibles and coinsurance. *BlueCross BlueShield of South Carolina administers our medical plans and Caremark administers our prescription drug plan.
Deductible and Coinsurance Deductible - the amount of money you must pay before your health plan starts to pay. Coinsurance - The percentage or calculated amount you pay.
Out-of-Pocket Maximum An out-of-pocket maximum is the maximum you'll have to pay for health care services during any plan year. Payments for deductibles, coinsurance and co-pays go toward your Maximum.
What medical plan is best for me and my family? Palmetto Health Offers HRA and HSA Plans What s the same? Same great network of experienced providers Same plan design: consumer-driven Both maximize your benefits when you use Palmetto Health facilities and the Palmetto Health Quality Collaborative (PHQC) physicians.
HRA (Health Reimbursement Account) Plan Higher premium and lower deductible No-cost Tier 1 PCP and Specialist office visits Palmetto puts money into a HRA to be used automatically, toward your deductible. $450 for individual and $900 for family coverage
HSA (Health Savings Account) Plan Lower premiums and Higher deductible Pay deductible for Tier 1 PCP and Specialist office visits Palmetto puts money into HSA, which you use at your discretion for eligible expenses, including your deductible and coinsurance. $282 per quarter for individual and $562.50 for family coverage (for full-time team members)
What medical plan is best for me and my family?
What medical plan is best for me and my family? Would you rather pay less per pay period and more out-of-pocket when you need health care services? YES or NO
What medical plan is best for me and my family? Do you or your family generally visit the doctor only for preventive care? YES or NO
What medical plan is best for me and my family? If you had lower premium contributions per pay period, would you save the difference in a taxfree Health Savings Account (HSA)? YES or NO
What medical plan is best for me and my family? More Yes HSA Plan More No s HRA Plan Fewer No s Fewer Yes
Making your Decision When you re making your choices, remember, insurance is protection. So think about how much insurance you need and weigh that against the specific plan s deductible, coinsurance and out-of-pocket maximum.
How much should I save in an HSA or FSA? HRA HSA FSA Must be a participant in Palmetto Health HRA medical plan. You can t contribute to this account; only Palmetto Health can contribute. Palmetto Health owns the account. Automatically pays eligible expenses. Unused balances can roll over year to year. Must be a participant in Palmetto Health HSA plan. You can contribute pre-tax dollars up to IRS limits, in addition to Palmetto Health contribution. You own the account. You decide when to pay from this account for eligible expenses. Unused balances can roll over year to year. Can be a participant in either plan, but can only use for dental and vision if you have an HSA. You can contribute pre-tax dollars up to IRS limits. You own the account. You decide when to pay from this account for eligible expenses. Use it or lose it.
How much should I save in an HSA or FSA? You can save money on your eligible medical expenses by saving tax-free in a Health Savings Account or Flexible Spending Account.
HSA Health Savings Account (HSA) Money is placed into an account quarterly Participant is issued a debit card Card can be used at your discretion to pay for health care cost share (deductible and co-pays) Remaining balance rolls over Spending strategy is advised
Advantages of an HSA It can be used to pay for qualified health care expenses. This includes your dependents expenses. Just remember to keep your receipts. It s portable. You own the account. If you go to another employer, your HSA goes with you. Even into retirement. It rolls over. Your funds roll over each year. There s no use it or lose it, like with a Flexible Spending Account (FSA). It earns interest. Interest is credited to your account each month. And there s no minimum balance required. You can change your contribution level at any time.
HSA 2017 Maximum HSA Contribution Limits Individual Your Max Contribution $3,400 Family Your Max Contribution $6,750 55+ Catch-Up Contribution $1,000
FSA Medical Flexible Spending account Up to $2,500 can be elected during enrollment and made available at the beginning of the plan year Used for out-of-pocket eligible expenses. Debit card is issued to member Pre-tax income is deducted per pay to pay back amount (26 installments, no tax and no interest)
Limited Purpose FSA Limited Purpose Flexible Spending Account Used for out-of-pocket eligible Dental and Vision expenses only and preventive services in your high deductible health plan Debit card is issued to member Pre-tax income is deducted per pay to pay back amount (26 installments, no tax and no interest)
What other benefits make sense for me? Dental High or Low plan? Vision Do I need it? Insurance How much do I need?
Dental Preventive services at 100 percent of usual and customary charges with no deductible. Provides in network and out of network coverage Increased benefit at the Palmetto Health Dental Center
Vision Palmetto Health s vision plan provides reimbursement for a vision exam, lenses for frames, frames, and contact lenses purchased by a licensed provider of your choice. Increased benefit at the Palmetto Health Ophthalmology
Supplemental Benefits Support your out of pocket medical cost with Critical Illness, Accident and/or Hospital Indemnity insurance Special insurance needs for Legal, Identity Theft and Pets are also available.
Complimentary Benefits Palmetto Health will provide you: myhealth Rewards (Wellness program)
myhealth Rewards The wellness program for Palmetto Health team members Participation in program activities earns incentives Health Insurance Premium Discount HRA/HSA Contributions Annually complete Health Questionnaire, Lab Work, and Wellness Activities
myhealth Rewards New Hires Automatically receive health insurance premium discount 1 st 90 days To continue receiving incentives, login to wellness portal and complete all of the instructions in the Welcome New Hires Section
myhealth Rewards What is offered We provide resources to help you lead a healthy lifestyle Programs and Tools: Wellness Portal Resources Health Coaching Challenges Other ways to earn points throughout the year
myhealth Rewards Next Steps Login to wellness portal after 1 week Complete the New Team Member Requirements Engage in programs to support your health Contact Us: myhealthrewards@palmettohealth.org 803-296-5920
Additional Complimentary Benefits Life Insurance at 1 times your annual pay Short-term and Long-term Disability Insurance Retirement Match E-CARE
How do I use my benefits? You will always get great care for the lowest cost by using Tier 1 providers and facilities (Palmetto Health and the Palmetto Health Quality Collaborative (PHQC) The PHQC include Palmetto Health-USC Medical Group and private physicians who have agreed to work together to provide you with the best possible care.
How do I use my benefits? How do I find a doctor? To find a list of Tier 1 PHQC physicians, please visit PalmettoHealth.org/primarytier To find a list of Tier 2 physicians, visit www.southcarolinablues.com You can find links to these lists on TotalRewardsBenefits.com
How do I use my benefits? Where can I get a prescription filled? Convenient location Palmetto Health/CVS Best savings Generics and Preventative Discounts 90-Day Supply (Palmetto Health) Cost Control Specialty & Maintenance (Palmetto Health) Refer to TotalRewardsBenefits.com
Don t Stop Here TotalRewardsBenefits.com This website is for you Quick answers to your questions Compare plans Calculate your costs Get contact information
For questions TotalRewards@PalmettoHealth.org 803-296-8893 or 1-800-963-3456 This is your Total Rewards Benefits Service Center Get quick answers to all of your benefits related questions
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