Faculty Senate Benefits Committee Report November 4 th 2014 Committee Members B. HarrisonChair S. Sessions B. Borchers R. Aitbayev A.Hewitt Retiree’s rep.

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Faculty Senate Benefits Committee Report November 4 th 2014 Committee Members B. HarrisonChair S. Sessions B. Borchers R. Aitbayev A.Hewitt Retiree’s rep B.M. WilksStaff rep

Changes to Current Plan Plan 1 Removed Current users automatically enrolled in Plan2. If prefer Plan 3, will need to sign up for it. 8% increase in both remaining plans Max out of Pocket increased to Federal Max $6,600 Individual$13,200 Family Separate out of pocket Max for prescription Drug co-pays $3,000 Individual$6,000 Family Prescription Drug co-pays count towards out of pocket expenses

Changes to the NMT v Employee contribution Salary BracketNMTEmployee $15,000-$19,99980% (70%)20% (30%) $20,000-$24,99970% (65%)30% (35%) $25,000 and greater60% (60%)40% (40%)

Wellness Health Evaluations Tomorrow Nov 5 th Last day to register for a blood test at NM Tech Nov 12 th to register for test at Tech Building in Albuquerque If you can’t make these times you can go online to Meritain (myinteractivehealth.com) and schedule a test at an approved lab. Deadline is Nov 21 and the test no later than Dec 5th Participation results in $ credit per person on the plan deductible for calendar year

BenefitTimeRoom Legal Shield 9:00-9:30 a.m.B New Mexico Educational Retirement 9:30-10:30 a.m. B Wells Fargo10:30-11:00 a.m. Corporate Health Resources11:00-11:30 a.m. Valic (403b Supplemental Retirement) 11:30-12:00 noon B Nationwide (457b Supplemental Retirement) 1:00-1:30 p.m.B TIAA-CREF (403b Supplemental Retirement) 1:30-2:00 p.m.B Lincoln Financial (Long Term Disability) 2:00-2:30 p.m.B Social Security 2:30-4:00 p.m.B Washington Federal 4:00-4:30 p.m.B New Mexico Educators Federal Credit Union 4:30-5:00p.m. Other Health Care Benefit Providers attending Benefits Fair