1 / 24

2008 Annual Enrollment

2008 Annual Enrollment. Training Presentation April 2008. Agenda. Overview of 2008-2009 benefits What’s new and/or changing July 1 What you need to do Enrollment dates and My Benefits Access Benefits enrollment Questions?. 2008-2009 Benefits. Medical Dental Vision

Leo
Download Presentation

2008 Annual Enrollment

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 2008 Annual Enrollment Training Presentation April 2008

  2. Agenda • Overview of 2008-2009 benefits • What’s new and/or changing July 1 • What you need to do • Enrollment dates and My Benefits Access • Benefits enrollment • Questions?

  3. 2008-2009 Benefits

  4. Medical Dental Vision Flexible Spending Accounts Basic Life Insurance Optional Life Insurance Basic Accidental Death and Dismemberment Optional Accidental Death and Dismemberment Short-term Disability (if offered by your sector) Long-term Disability Employee Assistance Program Group Legal Voluntary Insurance (through the Northrop Grumman Federal Credit Union) Overview of 2008-2009 Health Benefits

  5. What’s Changing July 1 • Medical • New carrier for Premium and Preferred PPOs • Prescription drug changes under the PPO and EPO options • Reduced lifetime maximum of $12,500 for infertility treatment under PPO and EPO options • Flexible Spending Accounts  reduced annual limit of $2,500 for highly compensated employees • Cost increases for Premium PPO and Cigna EPP

  6. Anthem Blue Cross • Provider network is the same as the Blue Cross Blue Shield network • New medical ID cards issued before July 1, 2008 • Access to Anthem’s care management program, 360 Degree Health

  7. Prescription Drug Changes • Generic preferred refills (PPO and EPO options) • Mandatory mail-order for maintenance medications (PPO and EPO options) • Step Therapy program for PPO participants

  8. Flexible Spending Accounts • If you earn $100,000 or more in 2008, your annual contribution limit to the Dependent Care FSA will be reduced to $2,500

  9. Employee costs • Changes to how employee contributions are calculated • Significant cost increases for Premium PPO and Cigna EPP options

  10. Lumenos HRA Plan (in-network)

  11. Lumenos HRA Plan Plan Year Amounts Health ReimbursementAccount (HRA) Preventive Care 100% Bridge Traditional Health Coverage Coinsurance Maximum Mental Health/Substance Abuse and prescription drug benefits are covered under the plan.

  12.       Comparing the Medical Plan Options

  13.      Comparing the Medical Plan Options

  14. Example: Sharon • Average user of health care benefits • Family coverage • Potential health care services/needs (with assumed actual cost of service): • Three routine preventive care visits ($125 each) • Two specialist visits ($175 each) • 20 physical therapy visits for treating sports-related injury ($100 per visit) • Two generic maintenance prescriptions filled monthly ($20 each per month) • One preferred brand prescription ($60)

  15. Example: Sharon’s Costs * This example assumes in-network services only.

  16.   Example: Sharon’s Costs (cont.)

  17.   Example: Sharon’s Costs (cont.)

  18. What You Need To Do

  19. What You Need To Do • Review • Current benefits coverage and 2008-2009 options with eligible family members • How you use your benefits, and what your needs will be in the coming benefit plan year • Whether you could save money by choosing a different (but still appropriate) option

  20. What You Need To Do (cont.) • Enroll • Use the tools and resources at My Benefits Access to evaluate your options • Make changes to current health benefits coverage during your enrollment period • If You Don’t Enroll • Continue current coverage for medical, dental, vision, life, disability, and AD&D (as applicable) at new plan year costs • Current coverage in following plans will continue unless you make a change: • Health Care and/or Dependent Care FSAs • Group Legal plan

  21. Benefits Enrollment

  22. Two Enrollment Periods

  23. How to Enroll > Online • Go to Benefits OnLine at http://benefits.northropgrumman.com and click on the “Enroll With Your Sector” button • Select your sector to review general benefits and enrollment information • Log into My Benefits Access • First-time visitors will need to set up a user ID and password • Make your elections and print a confirmation statement

  24. How to Enroll > By Phone • No Web Access? • Call the Northrop Grumman Benefits Center (NGBC) at 1-800-894-4194 to enroll • If hearing impaired, will need to use a relay service through TTY/TDD provider • Available Monday through Friday, 9:00 a.m. to 6:00 p.m. Eastern time

More Related