Open Enrollment 2014 PLAN YEAR: JANUARY 1, 2014-DECEMBER 31, 2014 CONNECTING YOU TO QUALITY HEALTH PLAN OPTIONS 1 Meeting Objectives 1. Share How Affordable Care Act (ACA) Affects You and Emmis 2. Describe New Healthcare Quality & Cost Savings Tool 3. Discuss New Health Plan Option 4. Review Open Enrollment Steps The Affordable Care Act (ACA) Change is coming. Let’s break it down In 2014: • All Americans* will be required to purchase a qualified health insurance plan • The health insurance marketplace • We will continue to offer a company health plan • Our plan has some changes *some exceptions apply What’s new for 2014 Castlight – Addition of a healthcare quality & cost comparison tool (Feb 2014) High Deductible Plan with HSA - Addition of a Consumer Driven High Deductible Health Plan with Health Savings Account Wellness – Increased incentive discount Spouses will be required to participate in the wellness program Employees and spouses must complete the screening and assessment by March 31st 4 THINGS TO REMEMBER.... Go to urgent care centers instead of emergency rooms Save $ Urgent Care visit versus going to the ER Use in-network doctors Save with a lower deductible and coinsurance Pre-certify hospital services (PPO plans) Call to pre-certify services Use the Castlight “Quality/Cost Comparison” transparency tool Find cost ranges for services and quality reviews for doctors Save money with SpecialOffers Get discounts on health-related products and services Manage prescription costs Use generic when available and mail order for maintenance Rx 5 INTRODUCING CASTLIGHT HEALTH • Use the online tool to compare innetwork doctors and medical services in your area • See personalized cost estimates before you go to the doctor • Review step-by-step explanations of past medical spending • Receive recommendations about ways to find high-quality care and save money! Choosing your health plan IT’S GOOD TO HAVE OPTIONS Your health care needs are unique Select from 2 health plan options Both plans include: • Access to one of the nation’s largest networks of doctors • Prescription drug coverage with money-saving mail service • 100% coverage for preventive care, like annual checkups and vaccinations • Dental coverage through Delta Dental 9 KEY TERMS Deductible The amount you pay each year before your plan starts to pay Copay A flat fee you pay for covered services like doctor visits Coinsurance Your share of health plan costs (a percentage of total cost) after meeting your deductible Out-of-pocket maximum The most you have to pay out-of-pocket each year for health care services Premium The amount you pay to belong to a health plan 10 Current Option: Preferred Provider Organization (PPO) •Current plan option •Includes deductibles, copays and coinsurance •Discounted services for using in-network providers PPO Plan Option How it works: • • • • You pay a copay for in-network office visits and prescriptions without meeting a deductible After you meet your deductible you pay a percentage of the cost for all other covered services until you reach the annual out of pocket maximum You have a lower deductible to meet before co-insurance applies Flat $ copays apply for Rx & doctor’s visits; you know your cost • • • You pay a higher bi-weekly premium in the PPO option If you use the plan minimally, you could be paying more total out of pocket for this plan option Can’t take advantage of increased tax savings with HSA 12 New Option: Consumer Driven Healthcare Plan with Health Savings Account (CDHP/HSA) • Empowers employees to make informed health care choices • Employees become more aware of quality and cost issues • Gives employees the opportunity to use a pre-tax Health Savings Account (HSA) CDHP/HSA Option How it works: - - You pay the full in-network cost of an office visit and prescription until you meet your deductible; use pre-tax HSA $ to pay for those costs You must meet a higher deductible before the plan pays its share of coinsurance for services such as hospitalization • Your bi-weekly premium is lower than the PPO plan option; minimal users save $ • • Funds you put into a pre-tax HSA account can be used during the current year or saved for future expenses regardless of where you work You have a higher deductible, so you pay the first $2,000 EE only/$4,000 family out of pocket (with the use of the HSA) until you meet your deductible • You pay the full out-of-pocket discounted price for all services, including prescriptions, until you meet your deductible • Your HSA contribution is not taxed, as long as you spend your funds on covered services CDHP/HSA Option How a CDHP & HSA work together: Health Savings Account (HSA) • • • You can put money into your HSA, pre-tax, to help pay for your covered medical expenses, like office visits, lab work and tests. HSA funds are accessed via the plan-provided debit card or online bill pay. Unused HSA funds roll over from year to year, as long as you remain enrolled in the HSA plan. Annual Deductible • You are responsible for paying an annual deductible before the plan begins to pay a percentage of your covered expenses. • You can use the money in your HSA to help meet your deductible. Major Medical Coverage (coinsurance) • • • After you meet your annual deductible, you pay a percentage of the cost of your covered expenses, called coinsurance. If you still have money in your HSA after you've met your annual deductible, you can use the funds to pay your share of coinsurance. Once you reach your annual coinsurance maximum, the plan pays 100 percent of any of your remaining covered expenses for the rest of the year. What is a Health Savings Account (HSA) • Health Savings Accounts (HSA) are tax-advantaged interest bearing checking accounts • The HSA money can be used to help pay the cost of out-of-pocket medical and prescription drug expenses or for long term investment purposes • HSAs must be coupled with an HSA-compatible high deductible health plan (HDHP) in order to make contributions to the account Who can open an HSA? The IRS and the U.S. Department of the Treasury have specific rules on who can open an HSA. You can open an HSA if you: • Are enrolled in the CDHP like the new option we’re offering • Are not enrolled in Medicare • Are not claimed as a dependent on another individual’s tax return • Are not active military Note: You cannot open an HSA if you have coverage under any other health plan that is not an HSAcompatible health plan. HSA Eligibility for Married Couples Your spouse: You: Then, per the IRS: Has PPO self + children coverage have CDHP self-only coverage you are treated as having single coverage and only you may set-up an HSA . You may contribute up to $3,300 Has CDHP self-only coverage with a $1,500 deductible have CDHP self + child coverage with a $4,000 deductible you are both treated as having family coverage, and combined may contribute up to $6,550 to an HSA Has CDHP self + family coverage with a $3,000 deductible have CDHP self + spouse coverage with a $3,000 deductible you are both treated as having family coverage, and combined may contribute up to $6,550 to an HSA Has PPO self-only coverage with a $1,000 deductible have PPO self + family with a $1,250 deductible neither of you may set-up an HSA Is enrolled in Medicare have CDHP self + family coverage only only you may set up an HSA. You may contribute up to $6,550 Funding Your Health Savings Account (HSA) Making Contributions to Your HSA There are several ways you can contribute to your account: Tax-free through payroll deductions Post-tax by personal check When you file your taxes, you can make an adjustment to your gross income to receive the tax benefit You’ll receive deposit slips for your HSA in the mail Annual maximum contribution limits are: $3,300 for individual coverage $6,550 for family coverage $1,000 catch up contribution for those 55 or older Use of HSA for a non-qualified expense (e.g. not covered services or qualified medical expenses) require you to pay tax on the expense and a 20% tax penalty on the amount. Are There Any Fees Associated with My HSA? Typical banking fees apply Monthly account fee Debit card transactions ATM transactions First 2 debit cards Additional debit cards Card replacement fee Check Order Non-sufficient funds Stop check service Copy of check Mailed statements Emmis paid no charge $1 Free $5 per card $12 per card $10.65 per request $25 $20 per occurrence $10 per copy $1.00 Does My HSA Earn Interest? Can I Invest Money in My Account? The HSA is an interest-bearing checking account Once you reach a minimum balance of $1,000, you can begin to invest any additional funds into the available investment fund options When you are ready to invest, all you need to do is go to anthem.com and select the Chase Bank link for more details HEALTH ACCOUNT OPTIONS: PREFERRED PARTNER ORGANIZATION (PPO) PLAN + FSA OPTION CONSUMER DRIVEN HEALTH PLAN + HSA (CDHP/HSA) Eligibility, Funding & Usage FSA (health care) HSA Qualified high deductible health plan required No Yes Pretax premium deduction Yes Yes Eligibility Employee who meets employer’s eligibility requirements Employee who meets employer’s eligibility requirements and is covered by CDHP and no other non high deductible plan coverage Changes to Contributions Only with qualifying life event Yes Balance Carry Over No Yes IRS 2014 limit $2500 IRS 2014 limit: Individual = $3,300 > Individual = $6,550 **Additional $1,000 for those 55 and older Yes Maximum contribution Portable at termination No Not allowed Yes, after death, disability or age 65, otherwise will be included in gross income and subject to 20% excise tax. None Medicare, COBRA, Qualified LTC Non-medical withdrawals Qualified retiree insurance COMPARING PLANS MEDICAL PLANS PPO CDHP/HSA In-Network Out-of-Network In-Network Out-of-Network Employee $1,250 $2,500 $2,000 $4,000 Employee + 1 $2,500 $5,000 $4,000 $8,000 Employee + Family $2,500 $5,000 $4,000 $8,000 Doctor $25 50% 20% coinsurance 50% coinsurance Specialist $40 50% 20% coinsurance 50% coinsurance Urgent Care $35 50% 30% coinsurance 50% coinsurance 20% coinsurance 50% coinsurance Employee $4,250 $8,500 $4,000 $8,000 Employee + 1 $8,500 $17,000 $8,000 $16,000 Employee + Family $8,500 $17,000 $8,000 $16,000 $30/$50/$70 NA 20% Coinsurance 50% coinsurance $60/$100/$14 0 NA 20% Coinsurance NA % = after deductible Deductible Office Visits Coinsurance Out of pocket maximum Retail Prescription Drugs Mail-Order Comparing plans - Bi-weekly premium Premiums Tier II - $30,001 - $60,000 Wellness (PPO) Employee Only Employee + 1 Family Wellness (HSA) $39.18 88.48 150.42 Non-Wellness (PPO) Employee Only Employee + 1 Family $27.40 61.87 105.19 Non-Wellness (HSA) Employee Only $79.18 Employee Only $67.40 Employee + 1 128.48 Employee + 1 101.87 Family 190.42 Family 145.19 Premiums Tier III - $60,001 - $90,000 Wellness (PPO) Wellness (HSA) Employee Only $53.09 Employee Only Employee + 1 118.82 Employee + 1 Family 192.13 Family Non-Wellness (PPO) $37.12 83.09 134.36 Non-Wellness (HSA) Employee Only $93.09 Employee Only $77.12 Employee + 1 158.82 Employee + 1 123.09 Family 232.13 Family 174.36 Comparing plans Use Anthem’s Coverage Advisor to compare your PPO vs. CDHP costs ANTHEM PREENROLLMENT WEBSITE Use the pre-enrollment website: Coverage Advisor Tool 2014 Benefits and Open Enrollment Summary Web Overview eTutorials The Basics of Health Insurance HSA Basics Anthem website overview Open enrollment presentation Links to Ceridian self-service HrHelp contact information 27 NO CHANGES in Dental Coverage for 2014! Maximum Benefit = $1,500 per person per calendar year for Basic and Major Services; $1,500 per person lifetime for Orthodontic Services Deductible = $50 per person per calendar year limited to $150 per family per calendar year WELLNESS for 2014 Employees & Spouses What’s Changing? • Spouses will also be required to complete the following for employees to receive discount: • Health Assessment • Biometric Screening • Preventative Care • Employees and spouses must complete assessment and screening by 3/31/14. Life Insurance • Emmis offers company paid Basic Life insurance and Accidental Death & Dismemberment at 1x your annual salary to a maximum of $100,000 • In addition to the basic life insurance Emmis offers, you can purchase additional life insurance at competitive rates • Enroll or change your election during open enrollment • You can purchase life insurance for your spouse and/or dependents without purchasing for yourself *See the Wave or Open Enrollment Summary Booklet for more details Flexible Spending Accounts (HCFSA and DCFSA) • Can contribute pre-tax money for health care and dependent care expense: → $260-$2,500 for medical expenses → $260-$5,000 for dependent care expenses • Simple Reimbursement Methods • Wageworks debit card (Only available for HCFSA) • “Pay Me Back” process • “Pay My Provider” process • 14 ½ - month plan year to use funds • Use it or Lose it! IMPORTANT DATES: Spend it by: 3/15/15 Claim it by: 3/31/15 No exceptions! November 4th – 13th Open Enrollment ENROLLING IS EASY Log in to Ceridian Self-Service Choose your benefits options Submit your plan selections Print your confirmation of benefits and check for errors Your plan goes into effect 1/1/2014 ENROLL USING CERIDIAN SELF-SERVICE EMMIS ALSO OFFERS: Employee Assistance Program Leave pay Holidays Vacation Adoption Assistance Employee Referral Program 401(k) Plan Auto & Homeowners Insurance Q&A