2020 Benefit Educational Sessions Publish

Champlain College 2020 Benefits Preparing for Open Enrollment SUCCESS FOR TODAY  Provide historical context (how did we get here?)  Create shared meaning regarding what’s new in 2020  Help you understand choices and options during open enrollment  Highlight your role in open enrollment Ultimately, you walk away with all the information you need to successfully enroll in your benefits! HISTORICAL CONTEXT Champlain College began it’s Partnership with GMHEC in 2014/15 to:  Address the unsustainable cost of health care & health plans  Continue to offer meaningful benefits, while effectively managing and forecasting costs  Offering choices based on employees’ needs (right-sizing)  Harness the greater buying power of a larger group  Access to more benefit options due to group size NEW IN 2020 This is an active enrollment – requires your participation More choices for medical and dental plans Additions to the Vision Plan Suite of voluntary benefits: whole life, group accident and group critical illness  Hodges and Mace Benefit Counselors and the Smart Ben Enrollment Tool: Workday self service is not available this year during open     enrollment!  You will need to register for a 30 minute meeting to enroll in your benefits with a benefit counselor from Hodges and Mace  You will receive a $50 gift card when you meet with Hodges and Mace! OPTIONS AT A GLANCE Medical Plan Design Offerings  Gold, Silver, Bronze (2- HDHP with HSA’s and PPO’s)  Plans cover the same services - the difference is the cost of when and how you pay (premiums vs deductibles and co-insurance) Dental plans  Current plan and a more basic plan Vision plans  Continue to have two choices, similar to our current plans with higher allowances Unique to each College:  Premium split (Employee and College share of premium)  HSA Contribution VOLUNTARY NEW PROGRAMS Through our partner UNUM we will be offering the following voluntary programs:  Current Supplement Life and AD&D for Employee, Spouse & Children – NEW - adding children (If you are currently enrolled, your coverage will roll over, there is nothing you need to do.)  NEW Critical Illness – offsets the financial effects of a catastrophic illness with a lump sum benefit if diagnosed with a covered critical illness  NEW Accident – covers out-of-pocket expenses & additional services that follow an accidental injury, minor or catastrophic Paid directly to you  NEW Whole Life Insurance - has a cash value accumulation - for Employee, Spouse & Children If you enroll during open enrollment you are eligible for Guaranteed Issue amounts for the above options, no questions asked SELF-INSURANCE What does Self-Insured mean?  Champlain College is responsible for paying our medical and dental claims We contract with a 3rd Party Administration to utilize their networks, and process our claims We use CIGNA for our dental and medical administrator This allow us greater control over our costs  It is important for you to know that Champlain does not see individual claim data, we only see aggregate data How Can I make an impact on claim cost?  Have your annual preventative exam, use generic drugs when appropriate, use the mycigna tools, enroll in Telehealth, get your flu shot, participate in Wellbeing activities, review your bills/EOB’s for accuracy, don’t use the ER for non-emergency events TWO-PERSON COVERAGE 2020 SILVER PLAN (Deductible – Co-Insurance – Out-of-Pocket) $4,000 + $2,000 DEDUCTIBLE CO-INSURANCE PAY 100% OF CHARGE PAY 20% OF CHARGE = $6,000 OUT OF POCKET - $2,400 College HSA Funding = $3,600 TOTAL OUT OF POCKET TWO-PERSON COVERAGE 2020 SILVER PLAN ANNUAL PREMIUM $3,461 Per Pay Premium $4,000 + $2,000 DEDUCTIBLE CO-INSURANCE PAY 100% OF CHARGE PAY 20% OF CHARGE = $6,000 OUT OF POCKET - $2,400 College HSA Funding = $3,600 TOTAL OUT OF POCKET $133.11 TOTAL COST TO EMPLOYEE $7,061 Medical Plan Choices: High Deductible and PPO  There are two HDHP choices in 2020 – A Silver Plan and a Bronze Plan The difference is the premium amount, deductible, co-insurance & HSA contribution  In a High Deductible Health Plan, (HDHP) all your costs go towards your meeting your deductible The exception is for Preventative Care and prescriptions for Chronic Conditions such as diabetes, high blood pressure, heart disease, etc The cost for these items not go towards your deductible and you not need to pay out of pocket  All other services are applied to your deductible and once your deductible is met then a percentage goes towards meeting your co-insurance and out-of-pocket limit Once you meet your out-of-pocket limit all expenses covered under the plan are paid  The HDHP is paired with a Health Savings Account (HSA) You may use this account to pay for services that fall into the deductible and out-or-pocket limits The HSA can also be used for IRS qualified medical expenses such as dental & vision 10 HEALTH SAVINGS ACCOUNT (HSA)  We will continue to use Health Equity as our HSA Administrator  The College will continue to fund 60% of the Silver and Bronze HDHP deductibles:  Silver HDHP HSA Contribution:  Single – College annual contribution = $1,200  2-Person/Family – College annual contribution = $2,400  Bronze HDHP HSA Contribution:  Single – College annual contribution = $1,500  2-Person/Family – College annual contribution = $3,000  The College contribution is pro-rated and processed each pay  Should you reach your deductible before the end of the year and need the College contribution to pay expenses – we will fully fund what the College would have contributed by the end of the calendar year 11 PREFERRED PROVIDER ORGANIZATION (PPO)  The College will offer one PPO Plan known as the Gold Plan  A PPO plan provides benefits if you visit an in-network provider or facility It also provides coverage for some out-of-network providers or facilities but will have a different deductible, co-insurance and out-of-pocket limit  A PPO Plan has a deductible, co-insurance and out-of-pocket limits  A PPO generally has a co-insurance which can be flat dollar amounts or a percentage of the cost The Gold is a co-insurance is a percentage  Again, the same services are provided under all three plans, the difference is the per-pay premium, deductible and co-insurance amounts When and How you Pay! 12 DENTAL PLANS  Options include: the current dental plan, and a more basic plan for those who not need as much coverage  The dental plans cover the same services The deductible, annual limit and percentage of coverage vary between the two plans  Both plans cover four cleanings per year and orthodontia for children and adults  The College does not use a network so you may see any dentist of your choice 13 VISION PLANS  Options include: the Basic Plan and the Buy-Up Plan (currently known as our Enhanced Plan)  The allowance limit for lenses, frames and contacts has been increased Allowance =‘s what the plan covers  An added feature includes Diabetic Eye Care which covers diabetic eye diseases such as glaucoma and age-related macular degeneration  VSP continues to offer discounts for Laser Vision Correction 14 CONSIDERATIONS  Discuss with your family members if appropriate  Review your current benefits – you can view the benefits you are enrolled in through Workday by clicking on the Benefits Icon and View Benefit Elections  Review your medical, dental and vision utilization during the past year and consider services you may need during the next year  How much you want to pay in premium and/or deductible?  If you choose a high deductible plan, determine if you want to contribute to the HSA and if so how much? It’s not required you begin to contribute to the HSA 15 ACTIONS  Review the Open Enrollment booklet located in the Faculty Staff page under People Center | Benefits | 2020 Benefits  Register for a one-on-one meeting with a Hodges & Mace Counselor The scheduler will launch in early October-you will receive an email link to schedule a meeting!  Bring your dependents date of birth and social security number with you when you attend your meeting  Invite your spouse to attend this meeting with you (if desired or needed)  Attend the meeting and receive a $50 TD Bank gift certificate  Select and enroll in your benefits! 16 KEY TAKEAWAYS  Open Enrollment runs from November 1-November 15  You will not receive a notification in Work Day-there is no self service this year  To enroll in your benefits, you must register in a one-on-one meeting with Hodges and Mace Counselor-you will receive a link via a post card and an email to schedule your meeting!  Education sessions are offered over the next several weeks-same content as today So it’s your choice if you want to attend and hear it all again!  With the exception of the retirement plan and the Edge, your benefits will not carry over from 2019  Do your homework-you have lots of choices this year! 17 18 19 QUESTIONS And, thank you! 20 ... members if appropriate  Review your current benefits – you can view the benefits you are enrolled in through Workday by clicking on the Benefits Icon and View Benefit Elections  Review your medical,... Review the Open Enrollment booklet located in the Faculty Staff page under People Center | Benefits | 2020 Benefits  Register for a one-on-one meeting with a Hodges & Mace Counselor The scheduler... plans Additions to the Vision Plan Suite of voluntary benefits: whole life, group accident and group critical illness  Hodges and Mace Benefit Counselors and the Smart Ben Enrollment Tool: Workday