2015 Benefit Open Enrollment  November 1 st through November 21 st Jason DempsterBob Graf Associate Director, Compensation & Benefits Director, Employment.

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Presentation transcript:

2015 Benefit Open Enrollment  November 1 st through November 21 st Jason DempsterBob Graf Associate Director, Compensation & Benefits Director, Employment Services

Welcome! Benefits Health Insurance Dental Insurance Life Insurance Disability Insurance Flexible Spending Accounts Employee Assistance Program MetLaw Retirement Plans Long-Term Care Time- Away Wellness

Today’s Focus  Affordable Care Act Update & Implications for Macalester  Review Changes to: Dental Plan Health Plan FSA Plan  Wellness Program Updates and Upcoming Opportunities  Overview and Action Items for Benefits  Time for Q & A

Guiding Principles Cost efficiency or savings for both faculty/staff & Macalester Affordable Care Act Supports Macalester’s transition to self-insurance Administrative Efficiency Congruent with changing delivery models Congruent with the market Eye on Wellness or Wellbeing User friendly and ease in understanding

A Little Trivia Q: What percentage of employees elect Comprehensive Dental? A: 65% of dental participants elect Comprehensive Dental 35% of dental participants elect Preventative Dental Q: Have prescription drugs costs increased? A: Yes, Pharmacy spend increased 10.5% over the course of the last year Q: Do FSA (Flexible Spending Account) funds roll over from year to year? A: Yes and No. Earlier this year, the IRS provided additional guidance to soften the “use it or lose it” provision. We subsequently updated our FSA plans to allow up to $500 to be automatically carryover from year to year.  The rollover provision only applies to health FSA  The carryover provision does not prevent participants for spending all of the funds they have set aside each year. Q: How many health care claims have we had over $25,000 in the last 18 months A: 37

Affordable Care Act Affordability Standard <9.56% of employee’s income $3,000 penalty Cadillac Tax Total plan costs cannot exceed limits 40% tax in amounts in excess of limits Health Insurance Fees (taxes) PCORI Fee Transitional Reinsurance Fee

Affordability Standard Health plan must cover at least 60% of health care expenses Coverage must be offered to full-time employees (≥ hrs.) or $2,000 per full-time employee penalty Utilizes the employer’s lowest cost plan (i.e. HDHP) Employee’s share of the premium must be less than 9.56% of employee’s household income Example: $20,000/yr. – Salary x 9.56% $ 1, $90.18/mo. = HDHP Premium $1, = Annualized Premium

Cadillac Tax Provision – 2018 Plan costs that exceed defined thresholds will be subject to a 40 percent nondeductible tax on plan costs in excess of the thresholds: $10,200 for single coverage or $27,500 for family coverage Currently the tax includes all employer and employee amounts paid for: o Medical, including pre-tax employee premiums o Contributions made to health FSAs and HSAs Additional guidance will be released over the course of the next few years We will continue to monitor and take action to update our health plans accordingly

Fees Transitional Reinsurance Fee Begins in 2014 $63 per covered member per year Equates to ~$66,500 Fee can be assigned to employee Fee ceases after 2016 PCORI Fee Began in 2013 $2 per covered member in 2014 Equated to $2, % paid by Macalester $2 + inflation factor through 2019 and then sunsets

Dental Insurance No change in plan design for 2015

Dental Insurance Current Preventative Dental Rates Per EE PremiumAnnual Expense% Change $ 3.32 $ $ $ $ $ Preventative Dental Rates Per EE PremiumAnnual Expense% Change $ 3.19 $ % $ 9.58 $ % $ $ % With more mature claims data we are able to more accurately determine the costs by coverage level Current Comprehensive Dental Rates Per EE PremiumAnnual Expense% Change $ $ $ $ $ $ Comprehensive Dental Rates Per EE PremiumAnnual Expense% Change $ $ % $ $ % $ $ 1, % If interested in updating your election, contact Employment Services

Health Insurance No change in plan design for 2015

Health Insurance

Employee Assistance Program Macalester provides cost-free professional consultation and referral services for employees who are experiencing work and personal-related difficulties  Staffed by experienced clinicians with professional degrees  Available 24 hours a day, seven days a week  Access to our Employee Assistance Program is either  online at guidanceresources.com or  by phone at (877) Macalester’s Company ID is: ZB3042Q Confidential consultation is provided including: Work relationshipsConflict resolution Mental healthInterpersonal relationships FamilyLoss and bereavement Alcohol/substance abuseFinding child or elder care Financial information, resources and tools Legal information, resources and consultations

Health Savings Account (HSA) What is a Health Savings Account (HSA)?  Contributions are made on a “pre-tax” basis through payroll deductions  Health Savings Accounts are only available to those who have elected the High Deductible Health Plan (HDHP)  Macalester highly funds HSA’s through employer contributions to your HSA account  A HSA is a true savings account  Does not have the “use it or lose it” clause

Health Savings Account (HSA) Contributions Maximum annual combined matched contribution of:  $2,244 for Employee Only  $4,488 for EE+1 & Family Open enrollment is an ideal time to review and update your HSA contributions

Prescription Drugs Q: Do prescription drug costs vary by pharmacy? A: Yes. Each pharmacy has negotiated a different cost for each prescription with HealthPartners Q: Where is the most expensive pharmacy to get a prescription filled? A: On average, the most expensive pharmacy is Walgreens, then CVS Q: Where can I find out where to get my prescription filled at the lowest cost? A: Go to and log into your accountwww.healthpartners.com  Once logged in, click on the “Pharmacy Tab” and  Scroll down and click on the “Drug Cost Calculator”

Health Insurance - Premiums In determining our premiums for 2014, consideration provided to:  Regression analysis of 14 years of health plan expenses  Health plan reserve funding  ACA implications  Health care trends and utilization If interested in updating your election, contact Employment Services

Flexible Spending Accounts  Change to “Use-it or Lose-it” The IRS amendment designed to soften the “use it or lose it” provision For the convenience account holders, Employment Services will automatically assume that the $500 carryover be implemented with each account May “opt out” by completing Carryover Opt Out Provision form The carryover provision does not prevent participants from spending all the money they have set aside each year Any dollars over and above the $500 limit as of the end of the plan year, will be forfeited in the traditional manner associated with these accounts, per IRS regulation This change only applies to health care reimbursement accounts. It does not apply to money set aside for dependent care reimbursement accounts Updated!

Flexible Spending Accounts Health Care Expense Reimbursement  The annual limit for Health FSA for 2015 is $2,500 Remember, you cannot utilize FSA funds for over-the counter items Elections from $120 up to $2,500 per year Dependent Care Reimbursement Elections from $120 up to $5,000 per year  All participants must reenroll annually during open enrollment  You can elect to enroll or change coverage levels during open enrollment through the online open enrollment system

Flexible Spending Accounts Important Facts:  The flex plan year runs from January 1 st through December 31 st  Plan year contributions cannot be changed unless there is a “qualifying life event” (QLE). Changes must be made within 30 days of event  Claims for reimbursement must be submitted by March 31, 2015 Elect Conservatively – The “use it or lose it clause”  (Note: This is the primary difference between an FSA and an HSA.) All participants must reenroll annually during open enrollment

Healthcare Expenses - Sample PPO HDHPDifference Illustration reflects a “worst-case scenario” such as hospitalization or expensive treatment and is based on “In-Network” provider utilization PPO participants could elect to participate in Health Flexible Spending Account (FSA) to offset Out-of-Pocket expenses Open Enrollment might be an ideal time to review your individual health needs and explore which health plan best fits your needs

Wellness & Well-being Activity from the past year  3 incentives were available; (1) Blood pressure check, (2) Know your numbers and (3) Health Assessment with activity  Movember  Numerous educational offerings  Weight No More groups  Wellness Walkers group  Farmers Market  Cooks of Crocus Hill class  Retirement Planning Coaching  Averages 24 people per month with 1-2 visits per person  Available 3 days a week on campus

Health Assessment Results 2014 Health FactorPercent at high risk or diagnosed High Blood Pressure40.7 High Cholesterol23.9 Depression24.3 Low Fruits & Veg Servings Daily71.7 Low Physical Activity23.0 Overweight53.1 Tobacco Use6.2 Insufficient Sleep28.3 Unhealthy Stress11.5 Moderate or High Risk of Diabetes or Heart Disease 53.3

Health Assessment Results 2014 Health FactorPercent at high risk or diagnosed Emotional Health Concerns54.9 Back Pain39.8 Verbal, Emotional or Physical Abuse 25 individuals

Health Assessment Working with Kelly Health FactorPercent Change Normal Blood Pressure2.5 increase Missed Work Due to Health4.5 decrease Feeling More Productive3 increase Emotional Health Concerns2.5 decrease Stress2 decrease Back Pain6 decrease Insufficient Sleep8 decrease

The Year of YOU Give yourself permission to put yourself first Establish one goal that’s focused on your personal well-being

Wellness Incentive Take the Health Assessment + Complete an Eligible Well-being Activity $50 Deadline is April 30, 2015

Wellness Incentive  Complete the Health Assessment November 1 st through November 21 st  Weekly Drawing for Fitbit Complete your Health Assessment early for more chances to win!

Health Assessment  Online access through healthpartners.com/wellbeing  Quick, easy and confidential  Goal Setting and Action Plan feature allows you to set a personal health goal receive a personalized action plan that identifies programs based on your areas of improvement and readiness to change

Eligible Well-being Activities Onsite Wellness Coaching with Kelly Fang  Completion criteria: meet with Kelly at least once to discuss your HA results and well-being goal.  Coaching topics include: Weight loss Quitting smoking Stress & Work/life balance Exercise Nutrition Back health Sleep

Eligible Well-being Activities Online and MePlus Mobile Tracking Programs  Completion criteria: track once per week for 8 weeks  Tracking is now available via the mobile application for the iPhone, iPad, or Android device. 10,000 Steps® (Can now sync your MePlus App with your FitBit!) Sleep program Stress program Tobacco program Weight eProgram (online only)

Eligible Well-being Activities Regular use of the Leonard Center  Completion criteria: Workout or participate in WHAM classes at least 12 times a month for a minimum of two months between November 1, 2014 and April 31, 2015

Basic Life and AD&D Insurance Macalester provides both Basic Life and Accidental Death and Dismemberment (AD&D) life insurance to all benefit eligible faculty and staff for free  Please note payroll taxes will be deducted on premiums for basic life amounts over $50,000 per IRS regulations  Everyone is encouraged to review and update life insurance beneficiaries  Visit Employment Services to update your life insurance beneficiaries

Supplemental Life Insurance Macalester offers benefit eligible faculty and staff voluntary life insurance and AD&D  This plan is paid by you and intended to supplement the provided Basic Life and AD&D Insurance  Faculty and staff may purchase up to 5x their salary in increments of $10,000  New enrollments or amounts elected above $200,000 are subject to an evidence of insurability determination  You can elect to enroll or change coverage levels during open enrollment  You can also change life insurance beneficiaries during open enrollment  Visit Employment Services to:  Enroll, change or end your supplemental life insurance election  Update your life insurance beneficiaries

Dependent Life Insurance Macalester offers benefit eligible faculty and staff voluntary Dependent Life Insurance  For a flat rate of $4.50 per month  Spouses are covered by $25,000 of term life insurance  Children 6 months to age 25 are covered by $10,000 term life insurance  Children from birth to 6 months old are covered by $1,000 of term life insurance  You can elect to enroll or change coverage levels during open enrollment  Visit Employment Services to enroll or end dependent life insurance

Long-Term Disability Insurance Macalester provides faculty and staff with an FTE of 0.75 or greater Long-Term Disability (LTD) Insurance  Long-Term Disability begins after 90 days  Beginning at day 90 of a disability, LTD pays o 60% of monthly earnings for faculty and staff o 66.67% of monthly earnings for CBU employees  There is no action for you to take during open enrollment to elect this benefit

Short-Term Disability Insurance Macalester offers benefit eligible staff (no faculty) Short-Term Disability Insurance which may provide coverage between day one and day 90 of a disability  Short-Term Disability Insurance is paid by you and intended to cover qualifying disabilities Rates are dependent on age, waiting period and coverage level  Staff can enroll in this benefit during open enrollment by completing a Sun Life Short-Term Disability Enrollment form available online and through Employment Services  Election amounts do not change automatically each year as your pay changes. All Staff are encouraged to review and update their election amount annually  Visit Employment Services to update or enroll

MetLaw  MetLaw is a voluntary legal services benefit available to all faculty and staff at a.5 FTE and above  Employees who elect this benefit are responsible for paying all premiums ($18/mo.)  MetLaw offers employees unlimited telephone advice and office consultations on virtually any personal legal matter. Plus a wide variety of fully covered legal services, including: Civil litigation defense Debt matters and identity theft defense Purchase, sale, or refinancing of your home Traffic ticket defense Wills, living wills, powers of attorney and trusts And much more  You can enroll in this benefit during open enrollment through the online open enrollment system, but it does require a one-year commitment

Retirement Supplemental Retirement Plan:  All faculty and staff are eligible to contribute to their retirement  There is no waiting period  Can contribute any amount up to the IRS limits  Contributions can be made on a pre-tax or post-tax basis  The minimum annual election is $200  You can elect to enroll or change election levels at any time and during open enrollment through the online open enrollment system

Retirement Regular Retirement Plan:  Available to all faculty and staff (excluding CBU) who have completed one year of service with Macalester & have appointed hours of 1,000 or greater  Macalester contributes 10% of your regular salary to your retirement plan  There is no action for you to take during open enrollment to elect this benefit

Long-Term Care Insurance  Long-Term Care Insurance is designed to pay for a variety of in-home, assisted living and nursing home services, should you be unable to care for yourself due to an accident, illness or the effects of aging  You are responsible for paying all premiums for this benefit  Full medical underwriting required  Learn more by visiting the Benefits webpageBenefits webpage  Enroll by calling or visiting the dedicated webpage dedicated webpage

Benefits Fair  This year we are sponsoring the Macalester College Benefit Fair on: Tuesday, November 4, :00 AM to 4:00 PM Kagin Commons, Alexander G. Hall Ballroom  When attending the Benefits Fair, you can meet and talk directly with representatives from our benefit vendors and obtain answers to your benefits questions  While at the Benefits Fair, Register to win an iPad Mini at the Employment Services table Register to win  Prizes from our benefit vendors including an iPod  Gift cards/gift certificates from local merchants and vendors around Macalester

Online Open Enrollment Process: 1.Log onto the 1600grand portal Click on the Employment/My Job tab 3. Look for the “Employment Details” channel; click on the Open Enrollment link 4. Follow the written or video directions  YOU MUST click on the “Complete” button to finalize your benefit elections  Open Enrollment is November 1 st through November 21 st

Questions? Open Enrollment is November 1 st through November 21 st