1. Benefits Summary and Education Session
2016 Open Enrollment
Benefits Summary and Education Session
November 23, 2015 – December 4, 2015
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2. Open Enrollment November 23 – December 4
If you are eligible for benefits you must log in to bSwift and either select or decline coverages for This includes everyone even if you recently enrolled in 2015’s plan for December.
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3. Open Enrollment – November 23 to December 4
*Spouses that are eligible for medical benefits under their employers are not eligible to participate in Touchstone’s medical plans.
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4. Increasing Healthcare Costs
Touchstone’s healthcare costs will increase 22.4% next year.
Based on CIGNA’s actuarial analysis.
Touchstone’s 2016 medical plan changes and premium increases are a result of the increase.
Note: Touchstone did not increase employee healthcare costs in 2015
Touchstone spends over $12,000 per enrolled employee per year for health benefits.
Salaries represent only a portion of employees total compensation. This is an illustration of the total compensation paid to a typical employee making $30,000 in annual salary:
Benefits and Employer’s
Portion of Taxes Represents
33.9% ($15,383) of Compensation.
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5. Let’s Rock ENROLL! Medical Benefits – CIGNA
2016 Benefit Summary
Touchstone will continue to offer a market competitive benefits package to its employees:
Medical Benefits – CIGNA
Dental Insurance – Delta Dental
Vision Insurance – CIGNA
Life and AD&D – CIGNA
Disability Insurance – CIGNA
TelaDoc
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6. There are two medical plans offered!
-Premium Plan $3,000
-Value Plan $3,000 HSA
Consumer Driven Value Plan offering the employer funded HSA of $50 per month through JPMorgan Chase
*Spousal Carve out – Spouses cannot be covered by Touchstone if they have access to creditable insurance under their employer.
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7. Medical Plans
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8. Health Savings Account
Qualified Medical Expenses for complete information, please refer to the IRS Publication 501 *Medical and Dental Expenses.* available online at
SAMPLE MEDICAL EXPENSES
Acupuncture Home care Pregnancy tests kits
Bandages Lab fees Prostheses
Birth control pills Lasik eye surgery Therapy
Chiropractor Nursing services Wheelchairs
COBRA payments Optometrist X-ray fees
Eyeglasses/contact Orthodontics
2016 HSA
Contribution Limits:
Touchstone will contribute $50 per month to your HSA account once your banking application has been submitted and approved by JPMorgan Chase. Your enrollment ID with JPMorgan for your banking applications is: TouchstoneHSA
Single $3,350
Family $6,650
Catch up Contributions (age 55 and older) $1,000
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9. At a glance: Premium Plan vs. Value Plan?
Value Plan $3,000 with HSA
Consumer-driven
Lower premiums (e.g. lower bi-weekly cost to employees)
HSA available
Company contributes $600 per year to your HSA
HSA = Health Savings Account: A savings account that you can put money in pre-tax. Money in this account can only be used to pay health care costs until the age of 65. At age 65 you are able to take this money out of this account and apply it towards other expenses. This will be taxed at a normal income rate at that time.
There are no co-pays so you will pay ALL medical costs until your deductible is met
Out-of-pocket maximum is higher
Generally, people who don’t expect to use a lot of healthcare choose this type of plan
Premium Plan $3,000
Higher premiums bi-weekly cost to employee
No HSA or company contributions to out of pocket healthcare costs
Co-pays vs. first dollar rather than all costs incurred coming out-of-pocket
Lower out-of-pocket maximums
Generally, people who want minimize the risk of unexpected out-of-pocket healthcare costs and believe they will consume more healthcare choose this type of plan
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10. Scenario 1 - Low Volume Healthcare Consumer The Value Plan would save this employee over the course of the year
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11. Scenario 2 - High Volume Healthcare Consumer The Premium Plan would save this employee over the course of the year
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12. Let’s Rock ENROLL! TelaDoc
TelaDoc is available for $4.00 per month ($1.85 per pay period)
Same price no matter how many people are in your family
All members of your family can use TelaDoc, including those family members that are not covered by Touchstone’s benefit plans
Available via phone or mobile phone APP 24/7/365, no matter where you call from
There is no limit to the number of times you can call them!
TelaDoc recoups its cost if you utilize it;
-As a Value Plan 3000 member, in lieu of 1 trip to the doctor
- As a Premium Plan member, in lieu of 2 trips to the doctor
TelaDoc is the ultimate in convenience for treating minor healthcare issues. They can also prescribe non-narcotic medications.
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13. Let’s Rock ENROLL! Dental Delta Dental remains our provider Coverage
Diagnostic/Preventative = 100%
Basic Services = 80%
Major Services = 50%
Orthodontics = 50%
$50 Deductible per person total per calendar year on major restorative, repair of cast restorations, endodontics, periodontics, tissue conditioning, prosthodontics and implants.
$100 Deductible per person total per lifetime. Applies to diagnostic and preventive, basic services, complex oral surgery, sealants and palliative treatment.
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14. Vision
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15. Let’s Rock ENROLL! Life AD&D Insurance Voluntary Disability Insurance
Life and Disability
Life AD&D Insurance
Voluntary Disability Insurance
Touchstone provides $50,000 of life insurance for all full time benefits eligible employees.
Employees can buy additional life insurance in $10,000 increments up to $500,000 ($100,000 coverage guaranteed).
Voluntary Policies can be converted to a private policy if employee leaves company.
AD&D benefit equals your basic life insurance amount.
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16. How To Make Changes After Enrollment
Unless you have a qualifying event you cannot make changes to the benefits you elect during your initial enrollment period until the next annual enrollment period.
Qualified events include: marriage, divorce, legal separation, death of spouse, birth or adoption of a child, change in child’s dependent status, change in residence due to an employment transfer, commencement or termination of adoption proceedings, or change in spouse’s benefits or employment status (applicable only to dental and vision).
Please login to bSwift using the credentials previously provided to request the processing of a qualified event change to your benefit status. Also note employees have 30 days from a qualifying event to process a change request. After this time period, employees will have to wait until the next annual open enrollment.

17. Contact Information and Tools
-Medical Cost Calculator Comparison Tool
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