Download Slide 1 - DePauw University

2015 Benefit Open Enrollment
Benefit Overview
Medical
• Anthem continues as our carrier for 7/1/15
• No plan design changes or contribution increases
Dental
• Delta Dental continues as our carrier for 7/1/15
• No plan design changes or contribution increases
Vision
• Anthem continues as our vision carrier effective 7/1/15
• No plan design changes or contribution increases
Medical
• Still two medical plan options from
which to choose:
o Traditional PPO – No plan design changes
o High Deductible Health Plan – No plan
design changes
• Find a network provider at
www.anthem.com - choose Blue Access
PPO
HSA Eligibility
An HSA can be established by an individual
who:
• Is covered under a high deductible health plan (HDHP)
• Is not covered by any other health plan that is not an
HDHP
• Is not enrolled for benefits under any part of Medicare
• Is not claimed as a dependent on another person’s tax
return
HSA Features
•
Tax Advantages
 Tax free way to save for current and future medical
expenses.
 Contributions are pre-tax or tax-deductible up to
annual HSA limits.
 All earnings and interest are tax free.
 Qualified withdrawals are tax free. Once reach age
65, non-medical withdrawals are taxed at your current
tax rate, like an IRA.
•
HSA is fully Portable.
Ability to Accumulate funds – “Use it or Keep it!”.
•
HSA funds can be used for items not covered by health
plan such as; dental, vision etc. Same as an FSA plan.
HSA Contributions Options
The HSA can be funded
• In one or more payments
• Payroll deduction will be available for all DePauw
University employees
 Elections can be stopped, started, changed on a monthly basis
• Contributions can be made by the employee, employer, or
any other person on the employee’s behalf.
• Prior to the individual’s federal tax filing date (generally
April 15)
HSA Contribution Maximums
IRS Maximum 2015 contributions
• Self - $3,350
• Family - $6,550
• Catch up contribution - $1,000 for those
55 and older
Note: Maximums include contributions made by DePauw
HSA University Contributions
DePauw University’s Annual HSA
Contribution
Employee
Employee + Dependent(s)
$1,000
$2,000
Note: Employee’s will receive one-fourth of the
University’s contribution each quarter.
HSA Distributions
Pre-65 HSA owner:
• Qualified Distributions will be tax free. NonQualified Distributions will require individual to
pay their personal tax rate on purchase and a
20% penalty.
Post-65 HSA owner:
• Qualified Distributions will be tax free. NonQualified Distributions will require individual to
pay their personal tax rate on purchase (No IRS
Penalty)
ALEX
Decision Support Tool
ALEX is a new decision support tool that will assist you in the
following ways:
•
Compare your anticipated out-of-pocket costs in each medical plan
based on your answers to a few simple questions.
•
Show your required contribution for each medical plan.
•
Provide education about each medical plan design as well as how
each plan works with HSA and FSA accounts.
•
Make a recommendation about which plan would be most
appropriate for you and any dependents you might be covering
based on the information you provide.
Note:
This tool can be accessed through the e-Share presentation
or via a link located on the DePauw intranet page:
www.depauw.edu/offices/human-resources
Employee Action
Remember:
• All benefit-eligible employees may login to the ADP system
to change current benefit elections or beneficiary
assignments between May 1 and May 15, 2015.
• If you do not make any changes, your current benefit
elections will be applied to July 1, 2015 on your behalf.
• If you intend to continue your current election or enroll for
the first time in an FSA plan, you MUST login into the
ADP enrollment system and make your election.
• Enrollment will be completed in the ADP portal at
https://portal.adp.com.
OPEN ENROLLMENT INTRODUCTION
Open Enrollment
Faculty, staff and dependents covered under the
health plan will have access to a remodeled onsite Wellness Center beginning late summer 2015.
• Includes enhanced medical/wellness services.
FUN FACT ABOUT THE DEPAUW HEALTH PARTNERSHIP:
Employees will have the
opportunity to meet with registered
dietitians and certified wellness
coaches to create their own
personalized nutrition and activity
plan.
Open Enrollment
Wellness Center offerings (all at no out-of-pocket cost):
• Primary care services
• Chronic disease management
• On-site pharmacy services
• Lab draws
FUN FACT ABOUT THE DEPAUW HEALTH PARTNERSHIP:
Eight to 10 DePauw students will
have the opportunity to experience
internships. These opportunities will
include supporting health-related
community events and much more.
Open Enrollment
On-site pharmacy services will include medications
for chronic condition management (examples:
diabetes, asthma and high blood pressure).
• Formulary prescriptions will not have a co-pay.
FUN FACT ABOUT THE DEPAUW HEALTH PARTNERSHIP:
Employees will have access to a
robust, interactive wellness portal to
help meet their health goals.
Medikeeper can even integrate with
a FitBit or other tracking device.
Open Enrollment
Online scheduling provides convenience as
well as easy access to healthcare services.
• Schedule from your computer or mobile
device anytime, anywhere.
FUN FACT ABOUT THE DEPAUW HEALTH PARTNERSHIP:
The partnership includes
specialized support for
DePauw athletes and School
of Music students.