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2014 Benefits Discussion

2014 Benefits Discussion. November 15, 2013. Topics to be covered:. Benefits Packet Self-Funding Approach Changes for 2014 Medical Insurance Premium Rebate Flexible Spending Accounts LifePoints Wellness Programs Urgent Care versus ER Questions and Answers. Benefits Packet.

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2014 Benefits Discussion

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  1. 2014 Benefits Discussion November 15, 2013

  2. Topics to be covered: • Benefits Packet • Self-Funding Approach • Changes for 2014 • Medical Insurance Premium Rebate • Flexible Spending Accounts • LifePoints • Wellness Programs • Urgent Care versus ER • Questions and Answers

  3. Benefits Packet • Did you get it? • - Go to HR website www.union.edu/hr • or to www.union.edu/2014benefits • Do you understand it? • Do you know what you have to do now? • Questions????

  4. Challenge Question #1 • What is this year’s deadline for turning in your 2014 benefit plan forms?

  5. Self-Funding of Medical, Dental, and Vision Insurances What is Self-Funding? Self-funding is where an employer provides insurance to its employees using its own funds and through the help of a third-party administrator (TPA). This is different from fully insured plans where the employer contracts with an insurance company to cover the employees and dependents. • Union and you are the insurance company • Everyone shares in the risk of claim fluctuations • Everyone can impact the total cost of insurance • Better health and appropriate use of the plan will help control costs and limit annual premium increases

  6. 2014/15 Benefits Plan Changes • 3-Tier to 4-Tier Rate Structure • Emergency Room (ER) Visit Copay • Hearing Aid Benefit and Essential Health Benefits (EHB) • Annual Out of Pocket Maximums (OOP) • Patient-Centered Outcomes Research Fee • Exchange Reinsurance Fee

  7. Medical Premium Rebate Program • The program supplements the cost of medical insurance coverage for employees with total household income below a specified threshold • 2014 Threshold: 2012 Total Household Income less than $73,784 • Full Rebate Amounts (available to those with total household income below $49,188) • If you miss the deadline you can enroll at any time and get credit for the remainder of the year

  8. Flexible Spending Account • The maximum employee pre-tax contribution limit is $2,500 for the Healthcare Spending Account • The maximum employee pre-tax contribution limit is $5,000 for the Dependent Care Spending Account. • You must enroll for an FSA by the November 29 deadline • You can incur claims up until March 15 of the following year for the healthcare spending account and until December 31 of the current year for the dependent care spending account • You can submit claims for reimbursement up to March 30.

  9. Challenge Question #2 • What do I need to do to enroll in the Medical Premium Rebate Program for 2014?

  10. LifePoints

  11. Wellness Programs • Union College continues to pay for and/or supplement the cost for employees to pursue healthy activities and lifestyles: • Fitness Center • LifePoints program • Sunnyview Wellness Center discounts • On-campus Weight Watchers at Work program • Discounts for Athletic Department fitness classes • Discounts for Arts Department dance classes • Walking Programs • Take advantage of these programs/discounts and help yourself to attain a healthier lifestyle.

  12. Urgent Care vs ER • $25 vs $100 Copay • Quicker • Normally Available After Hours • Convenient Parking • For a current listing of Urgent Care Centers, go to the CDPHP website: www.cdphp.com and click on the “Find-A-Doc” box.

  13. Urgent Care vs ER • Many Urgent Care Centers are open 365 days a year and no appointment is necessary. Two facilities in our area actually offer 24/7 urgent care availability: • Ellis Emergent Care (518-579-2800) – located at 103 Sitterly Road, Clifton Park, off exit 9 of the Northway (I-87), in the Medical Center of Clifton Park • Malta Med Emergent Care (518-289-2024) – located at 6 Medical Park Drive, Ballston Spa, off Exit 12 of the Northway (I-87).

  14. Urgent Care vs ER Emergency vs. Non-Emergency - Urgent Care Centers welcome acute non-life threatening illnesses and injuries such as: • Sprains, strains, and simple fractures • Muscle aches and pains • Cuts, scrapes, and minor wounds • Minor pediatric illnesses • Stomach pain, vomiting, or diarrhea • Ear aches • Fever • Sore throats, colds, coughs, and wheezing • Rashes and burns • Minor eye injuries, infections, or irritation • Insect bites • Urinary tract infections • Routine gynecological problems • Laceration repair and minor surgery • Asthma treatments • Intravenous therapy • Antibiotic and therapeutic injections *Please note that if you think you’re having a heart attack, stroke or other life-threatening condition, call 9-1-1 immediately or get to an emergency room.

  15. Challenge Question #3 • What is the total amount of points/dollars you can receive annually through the LifePoints program?

  16. QUESTIONS?

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