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Welcome 2014 Open Enrollment November 5 th – November 20th

Welcome 2014 Open Enrollment November 5 th – November 20th. YMCA OPEN ENROLLMENT. During the Open Enrollment period, you may elect to Change your benefit coverage elections Add or terminate coverage for eligible dependents Enroll in a flexible spending account

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Welcome 2014 Open Enrollment November 5 th – November 20th

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  1. Welcome 2014 Open Enrollment November 5th – November 20th

  2. YMCA OPEN ENROLLMENT During the Open Enrollment period, you may elect to Change your benefit coverage elections Add or terminate coverage for eligible dependents Enroll in a flexible spending account Enroll or change supplemental life and/or AD&D insurance

  3. YMCA OPEN ENROLLMENT Wellness Incentive Be a Non Smoker/Tobacco User, or Commit to Quit to receive the Non-Smoker Credit to your insurance premium. If you quit smoking and/or using tobacco products we will offer a $240 annual premium reduction on the cost of 2014 medical coverage divided evenly across each check. To receive this incentive for 2014 you must meet the below: Be on the YMCA medical plan United Health Care (UHC) Sign the affidavit form stating you are tobacco free Commit to quit by actively participating in the UHC wellness coaching to help you quit smoking or will use cessation medication to quit by 1/1/14. Fill out the “Commit to Quit” Form As a bonus- UHC offers up to $150 for participating in any wellness coaching programs either online or over the phone. You will have an opportunity to qualify for this wellness incentive once per year. After this open enrollment the next opportunity will be open enrollment for 2015. If you are not successful on your commitment to quit it is your responsibility to turn in a new affidavit form. At that time you will no longer receive the non-smoker discount.

  4. YMCA OPEN ENROLLMENT Wellness Incentive Health Assessment You and your adult dependents must complete the Health Assessment at MYUHC.com by November 29th to receive a 10 to 10.8% credit (depending on level) to your annual health insurance premium-divided equally across each check for 2014. “Know Your Numbers Campaign” Includes but is not limited to obtaining from your physician the below: • Cholesterol • HDL/TC/HDL ratios • glucose • blood pressure • body mass, and body fat percentages Turn in the physician acknowledgement form with your Physician signature by August 31, 2014 and you will receive a $50 gift card. Gift card is taxable income.

  5. YMCA OPEN ENROLLMENT Wellness Coaching Program YMCA Employee Benefits offers up to $150 in gift card incentives to participants who further engage in their Healthy Living by taking advantage of one of several different Coaching and Disease Management programs. • Telephonic Wellness Coaching – Earn $25 gift card for enrolling in any program and upon completion receive an additional $75 gift card reward • Online Wellness Coaching – Earn an additional $50 in gift cards upon completion These are just a few of the classes offered. Weight Management, Tobacco Cessation, Stress Management, Nutrition, Preventive Care, Healthy Back. Go to MyUHC.com for more information.

  6. YMCA OPEN ENROLLMENT Spouse Surcharge Many employers who provide health insurance to their employees also offer coverage for the employees’ dependents. However, with the rising cost of insurance some employers are charging a surcharge for a spouse who has another source of insurance. The surcharge is an extra fee that is charged to provide coverage for a spouse who has access to insurance from another employer. No surcharge will be charged for your spouse to be insured on our plan if any of the below are true: • Does not offer a health care plan • They don’t meet the eligibility requirements • They are self-employed • They are unemployed • They are a full time student If you choose to insure your spouse on our plan instead of them using an available Health Plan provided by their employer, then you will be charged $600.00 annually-divided evenly across each check.

  7. YMCA OPEN ENROLLMENT Health & Dental Insurance *Must re-elect your health and dental plan online in Kronos You can change your plan to a different plan to begin January 1, 2014. You can add or drop any eligible dependents or yourself. Pre-Tax Accounts*Must re-elect your pre-tax accounts online in Kronos Insurance premiums pre-tax status will remain the same, unless you change it. Participation in Medical Reimbursement Accounts must be made every year. Participation in Dependent Day Care Reimbursement accounts must be made every year. Participation in Health Spending Accounts must be made every year. HDHP required Additional Life InsuranceNo Change – No Action Required You can enroll in this coverage or increase this coverage. Contact HR for more information. Retirement 403B Account No Change – No Action Required You can change your Beneficiary, setup a 403B account or change your contribution. AFLACNo Change – No Action Required You can add, change or terminate AFLAC policies. Contact HR for more information.

  8. YMCA OPEN ENROLLMENT Why can’t I make changes during the year? Due to IRS regulations, if a benefit is pre-taxed you are not allowed to make changes during the year unless there is a Qualifying Event.. A qualifying event is defined as one of the items below. • Marriage, Birth, or adoption of a child. • Divorce or legal separation. • Death of a covered dependant. • Loss of coverage due to ineligibility.

  9. YMCA OPEN ENROLLMENT What is changing or New? Medical Network 500 will no longer be offered Spouse Surcharge is increasing to $600 annually Rates are changing Dental Rates are changing

  10. Employee Premium Cost W/HRA Credit

  11. Understanding your Medical Plan

  12. Understanding HDHP/HSA HSA – Health Spending Account HSA is an IRS approved employee benefit that allows you to payroll deduct monies on a pre-tax basis to use later for eligible medical expenses. HSA Key Points Dallas YMCA will match up to $25 per pay period (24 pay periods) to a qualified HSA Acct. Pay for health care expenses now or save it for future No minimum contribution; start or stop any time Investment options for long-term growth Keep all receipts in case of audit If you also have a FSA you cannot be reimbursed for Medical through your FSA account. Contributions Max $3,300 single/$6,550 family Fees Determined by bank Interest Determined by bank Qualifications Covered by a qualified HDHP for medical insurance Not covered by other insurance Not claimed as a dependent by someone else

  13. Understanding HDHP/HSA The HSA is designed to work with your HDHP plan to protect you and your family. Example: Mark is single. He chose a health plan that covers preventive care at 100 percent and has a deductible of $2,500. The costs of his routine physical exam and other preventive care are covered completely by his health plan. Mark is responsible for paying for his prescriptions and other medical care until he has paid $2,500 Expense Charge What Mark pays What the plan pays Annual physical exam $500 $0 $350 Medication $2,500 $2,500$0 Foot Surgery $2,000 $0 $2000 TOTALS $5,000 $2,500 $2350 Mark opens an HSA The Dallas YMCA contributes a matching $25 per payroll, which gives Mark an annual total of $1200 in his HSA, ½ of his deductible. Mark contributes an additional $80 per payroll which makes his annual total deposited to his HSA, $3120. His federal tax savings with his HSA are approximately $653. At year-end, if he has no further medical he will save $620 that will carry over into the next year to help pay for medical expenses the following year. Plus, keep in mind that with the high-deductible health plan associated with an HSA, Mark will pay less in premiums than if he were covered by the Net 1000 plan.

  14. Understanding HDHP/HSA Watch Your Money Grow: Example: Mary’s savings grow over time Mary deposits $2,500 per year to her HSA. Her average qualified medical expenses per year are $1,000, making her net contribution per year about $1,500. Mary’s tax bracket is 25 percent. Mary also saves 7.65% in federal payroll taxes (FICA). Mary lives in Texas, where there is no state income tax. Mary earns 1.00% APY on her savings. After five years After 15 years Mary’s net HSA contribution is $7,500 Mary’s net HSA contribution is $22,500 HSA federal income tax savings are $3,125 HSA federal income tax savings are $9,375 Her earnings on her HSA are $228.02 Her earnings on her HSA are $1,886.80 Tax savings on HSA earnings are $57.01 Tax savings on HSA earnings are $471.70 Mary has $7,728.02 saved for qualified medical expenses Mary has $24,386.80 saved for qualified medical

  15. Understanding FSA A Flexible Benefits Plan is an IRS-approved, tax-free method that saves you money on insurance premiums, eligible medical and dependent day care expenses. The Flexible Benefits Plan allows active employees to set money aside through payroll deductions to pay for eligible medical and dependent day care expenses.

  16. Understanding FSA Insurance Premiums Pre-Tax premiums: Your premium for medical and dental will be deducted out of your paycheck before taxes are figured. This benefit however does lock you into your election unless you experience a qualifying event. Medical Reimbursement Account (FSA Medical) Maximum amount $2500 annually Claim must be filed with Taxsaver along with proper documentation or you may use your FSA Debit Card. Reimbursable expenses included but are not limited to: co-insurance, deductible, and most medical expenses not covered by the insurance including medical, dental and prescriptions. Claim amount does not need to be in account in order to file a claim. Reimbursement is based on date of service, not date of payment. If money cannot be claimed for that plan year, it is a use-it or lose-it account. Dependent Day Care Reimbursement Account Day care expenses, home day care, or child care bills for care of dependent child under age 13, a disabled child of any age, and disabled spouse or disabled dependent parent. Services must be rendered in order to be reimbursed. Money must be in the account in order to be reimbursed. If money cannot be claimed for that plan year, it is a use-it or lose-it account.

  17. Understanding your Dental Plan

  18. Health Assessment Credit 90% of staff must complete the Health Assessment in order for Dallas Y to receive a credit from the National Y. This credit allows the Dallas Y to give staff members a credit on their insurance premiums. Staff members and adult dependents must take the Health Assessment to receive their individual credit on their insurance premium. Go to MYUHC.COM – Take by November 29th

  19. Next Steps & Deadlines Health and Dental must be re-elected Changes must be made online by November 20, 2013. Pre-Tax accounts must be re-elected Changes must be made online by November 20, 2013. Online Health Assessment Must be completed by November 29, 2013 AFLAC changes Must be turned in to HR by November 20, 2013. Employee Health Benefit Plan Affidavit Form Must be turned in to HR By November 20, 2013 Links to Benefit Information and Forms

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