Spring Tour Slide Presentation 2015
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This document provides information about benefit changes for the FY2016 benefit year at Montana University System. It summarizes enhancements to complementary health care services under the medical plans, as well as changes to flexible spending accounts, tax advantaged accounts, and eligibility rules. Rates for FY2016 will see an aggregate increase of 3.0% for active employees and higher increases for retirees. The presentation reviews important dates and decisions for benefit elections during open enrollment.
Spring Tour Slide Presentation 2015
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- 2. ANNUAL BENEFIT ELECTION PERIOD for the FY2016 benefit year July 1, 2015 – June 30, 2016 2 Spring Tour 2015 Montana University System
- 3. 3 Agenda for Today Important Changes for FY2016 1. Medical Benefit Enhancements 2. Flexible Spending Account Changes 3. New Tax Advantaged Accounts 4. Wellness Incentive Benefit Changes and your Decisions for 2016 1. Medical, dental, and vision 2. Rates and Fees Time Frames for Making Benefit Change Decisions
- 4. 4 Important Changes for 2016 MEDICAL PLAN CHANGES Enhancements to Complementary Health Care Services Acupuncture, Chiropractic and Massage Therapy (New!) benefits have a $15 co-pay and 30 visits per year Naturopathic services have a $15 co-pay, no visit limit The patient is responsible for any difference between the allowable amount for a service and the charge Chiropractic has both in and out of network benefit Enhancements to Miscellaneous Services Dietary/Nutritional Counseling, Obesity Management, TMJ and Infertility Treatment now have an out-of-network coinsurance of 35%
- 5. 5 Important Changes for 2016 (cont.) Selection Of Medical Plan - WE WILL CONTINUE OFFERING THREE MEDICAL PLAN OPTIONS IN 2016 Allegiance Managed Care Blue Cross and Blue Shield Managed Care Pacific Source Managed Care
- 6. 6 Important Changes for 2016 (cont.) Use In-Network Providers – Be sure to use in-network providers to ensure you do not I incur “balance billing” charges Network participation by providers is changing in the health care market Always check - DO NOT assume participation “….but my doctor has always been in-network!” Check with your medical plan vendor, MUS Benefits Office, or your campus if you need help finding in-network providers
- 7. 7 Important Changes for 2016 (cont.) ELIGIBILITY Dependents up to age 26 may now enroll annually in medical, dental, and vision benefits (Does not include spouses) Proof of eligibility according to criteria in the Summary Plan Document will be required Mid-year disenrollment may only occur with a “qualifying event” or during a “Special Enrollment Period”
- 8. FLEXIBLE SPENDING ACCOUNT CHANGES Continuing changes with the implementation of the Affordable Care Act require changes to the MUS Choices Medical FSA Recall in FY2013 that FSA accounts were lowered from a $6,000 limit to $2,500 Beginning in FY2016 there are new changes to medical Flexible Spending Accounts (FSAs): 1. Employees will no longer be permitted to direct their excess employer contribution (state share) to an FSA 2. The maximum amount an employee can deposit to an FSA account increases to $2,550 for the FY2016 plan year 8 Important Changes for 2016 (cont.)
- 9. FLEXIBLE SPENDING ACCOUNT CHANGES With the limitations on the manner and amount of employer funds that may be placed in a medical FSA, MUS Choices will now offer two account options for employees: 1. Medical FSA option funded only with employee contributions (up to $2,550 per year) 2. NEW! A Tax Advantaged Account (TAA) • $750 employer contribution in FY2016 • Same allowable expenditures as a medical FSA • No “Use-it-or-Lose-it” annual requirement!!! • Account balance is portable upon termination of employment 9 Important Changes for 2016 (cont.)
- 10. MEDICAL SPENDING ACCOUNTS 2016 Tax Advantaged Account (TAA) things to know.... Only employer funds can be placed in a TAA; employee funds cannot be contributed (use the FSA instead) If your spouse has coverage through a HSA or has a high-deductible health plan, you may wish to talk to a tax advisor about whether to elect the TAA The TAA will be funded for FY2016 and MUS will review available funds to determine whether contributions can be made in the future Account balances are not use-it-or-lose-it and can continue up to 24 months following the last day of employment with MUS (for terminating or retiring employees) and up to 24 months following the date that MUS ceases to make employer contributions (including Wellness Incentives) 10 Important Changes for 2016 (cont.)
- 11. MEDICAL SPENDING ACCOUNTS 2016 OLD Arrangement for Medical FSAs…. 11 Important Changes for 2016 (cont.) 1. State Share $s – Benefit Elections $s = Employer Contribution #1 2. Wellness Incentive - $250/$500 = Employer Contribution #2 Employee Contribution $s Medical FSA
- 12. MEDICAL SPENDING ACCOUNTS FY2016 NEW Arrangement for Medical Spending Accounts 12 Important Changes for 2016 (cont.) FLEXIBLE SPENDING ACCOUNT • Up to $2,550 of Employee Contribution $s TAX ADVANTAGED ACCOUNT • $750 Employer Contribution $s • $250/$500 Wellness Incentive Funds will be placed in TAA instead of FSA Medical FSATAA
- 13. MEDICAL SPENDING ACCOUNTS 2016 WELLNESS INCENTIVE Active employees who completed a WellCheck (biometric screening, HRA, and blood draw) during 2014 and achieved the Trailblazer level will receive a $250 Wellness Incentive contribution to their TAA Adult dependents completing a Wellcheck will receive an additional $250 in the TAA Maximum of $500 per individual household enrolled in the MUS Plan 13 Important Changes for 2016 (cont.)
- 14. MEDICAL SPENDING ACCOUNTS 2016 $500 Annual FSA Roll-Over If you have funds remaining in your FSA account as of June 30, 2015, the rollover provision allows you to: 1. Carry up to $500 forward into the following plan year (for use beginning July 1) in your FSA. These funds will be placed in the FSA in October 2015 after FY2015 reconciliation is completed. 2. You may expend these funds on qualifying medical expenses incurred during the following plan year from your FSA 14 Important Changes for 2015 (cont.)
- 15. 15 Important Changes for 2016 (cont.) LIFE INSURANCE ELECTIONS Evidence of Insurability Now Required When: 1. An Active employee wishes to add Optional Supplemental Life Insurance in an amount above $300,000 or increase existing coverage more than one increment of $25,000 annually. 2. Adding Optional Supplemental Dependent Life for a spouse if not enrolled during the new hire election. Optional Supplemental Life and Optional AD&D Coverage premiums are paid on an after-tax basis.
- 16. 16 Important Changes for 2016 (cont.) VISION HARDWARE BENEFIT Optional Vision Benefit now covers ONLY hardware (frames, lenses, and contacts) Eye Exam is provided as part of the medical plan No need to use a network for Purchasing hardware – simply select A place to purchase and then submit Claims to Blue Cross and Blue Shield
- 17. 17 Benefit Changes and Your Decisions for FY2016 RATES AND FEES ACTIVE EMPLOYEES • 3.0% Aggregate Increase • Premiums changes after the employer contribution are applied range from a decrease of $4 to an increase of $57 per month depending on which medical plan you select and whether you cover dependents NON-MEDICARE RETIREES • 7.6% Aggregate Increase • Premiums increases are between $46 and $102 per month depending on which medical plan you select and whether you cover dependents MEDICARE RETIREES • 7.4% Aggregate Increase • Premiums changes range from a $19 per month increase to a $69 per month increase depending on which medical plan you select and whether you cover dependents.
- 18. 18 Benefit Changes and Your Decisions for FY2016 RATES AND FEES (cont.) Medicare Advantage Plan (MUS MAP) • Rate remains at $196 beginning July 1, 2015 Changes to certain benefits – contact New West for more information Dental • Active and Retiree rates remain the same as 2015 • Benefits are unchanged Vision Plan • Vision Hardware Plan has the same rates as 2015 • Remember – the Medical Benefits now cover vision exams! • Optional Vision Hardware Plan covers frames, lenses, and contacts
- 19. Health Plans and Networks 19 To receive your best benefits, STAY IN-NETWORK with your health plan Allegiance 1-877-778-8600, www.abpmtpa.com/mus Blue Cross and Blue Shield 1-800-820-1674, www.bcbsmt.com PacificSource 1-877-590-1596, www.PacificSource.com/MUS MUS MAP 1-888-873-8049, www.newwesthealth.com
- 20. Retiree Updates 20 Please review your medical plan choices carefully 1. Review Managed Care Plan choices carefully 2. If you are a Medicare eligible retiree, consider whether the MUS Medicare Advantage Plan (MUS MAP) offered through New West Health Services may be an option for you Look for the retiree information and updates that will be mailed to your home and/or attend a campus presentation Contact your Campus benefit staff or the MUS Employee Benefits Office if you have questions – we are happy to help! All forms for any changes must be received by the date specified by your campus and submitted to the appropriate address noted on your enrollment form If NO CHANGES are desired, you don’t need to do anything!
- 21. Changes to CHOICES Please watch for campus mailings/information regarding key dates benefit changes must be submitted by. Reminder - Closed enrollment for spouses in FY2016 (qualifying event required to add spouses – children to age 26 may be added) If you do not submit any changes, then you will be re- enrolled in the prior year benefit elections (except for Flex or TAA) FLEX PLAN ENROLLMENT and TAA ELECTION 1. You must re-enroll in Flex each year and specify the dollars you wish to go into your account 2. Remember that Flex is USE IT OR LOSE IT! – Rollover provision permits up to $500 to carry forward to the following year 3. WellCheck Incentive of up to $500 per household is available with the funds deposited to a TAA 21
- 22. QUESTIONS? Thank you for your time! 22