Open enrollment: Oct. 31 to Nov. 11 is the time to update your IU employee benefits
November 1, 2016
Ask yourself these questions: Did you get married this year? Did you get a divorce? Did you have a kid? Did your kid head off to college? Did anyone in your family start taking any new medications this year?
These and other life changes can affect the level and type of health care you want to participate in. Now is the time of year when IU employees have an opportunity to re-evaluate their insurance needs for the upcoming calendar year.
Employees can make changes to their medical and dental coverage, add or remove eligible dependents, determine their use and savings needs for their Health Savings Account contribution, decide whether to save money by using the Tax Saver Benefit plan, and review and change their personal accident insurance coverage. And like every year, if an employee is enrolled in any IU medical plan, they will want to go online and sign the Tobacco-Free Affidavit for themselves and their spouse to receive a reduction in their premium costs.
In addition, IU offers many other benefits that can be changed year-round and are not restricted to the open-enrollment season. But because employees are already thinking about their health care plans, it is also a good time to take another look at these other benefits.
Employees can change their contribution levels for their retirement plans; adjust their Life and Long-Term Disability Insurance coverages; and re-familiarize themselves with the 24-Hour Nurse Line, Care.com, Employee Assistance Program, Weight Talk Program, Quit for Life Tobacco Cessation Program, Castlight Health and Anthem’s new "Live Health Online" offerings. It’s always recommended that employees make sure their beneficiary information is up-to-date in their retirement, HSA, life insurance, and accidental death and dismemberment plans.
Information booklets began arriving in campus mail starting Oct. 10, and open enrollment information is also available online.
Employees and their family members are welcome to attend any campus information session or webinar. Times and locations of the open enrollment information sessions as well as times and topics for the interactive webinars are available online and in the open enrollment booklets.
What’s new for 2017? Here are a few highlights:
- Two health care premium salary bands have been modified, which means about 1,500 employees will have the advantage of being in a lower premium band for 2017. The "$30,000 and Below" salary band has been expanded to "$35,000 and Below." The next band has expanded from "$30,000 to $54,999" to "$35,000 to $59,999." All other salary bands remain the same. The salary band helps determine an employee’s monthly contribution for his or her health plan premium.
- The Anthem PPO $900 Deductible medical plan will be discontinued as of 2017. Any employee enrolled in this plan who does not choose another plan during open enrollment will automatically be defaulted to the Anthem PPO HDHP for 2017.
- Benefits will be added to the medical plans for medically necessary treatments and procedures for gender identity disorder including prescription, psychological, medical and surgical management such as gender transition surgery.
- The IRS has increased the contribution maximum to the Health Savings Account for employee-only coverage to $3,400. For all other coverage levels, the IRS maximum contribution has remained the same at $6,750. IU's contributions to employees' HSAs remain the same for 2017.
- Similar to years past, the Tobacco-Free Affidavit and the Tax Saver Benefit plans will require enrollment this year.
An important note: Employees enrolled in either of the Anthem medical plans will be receiving new ID cards for 2017. The group number and the member identification numbers have changed. Employees will need to use their new Anthem card at all of their medical, vision and pharmacy providers starting Jan. 1. Any claims submitted under the old insurance card will be denied and will need to be resubmitted under the new ID to be processed properly. For assistance or additional questions, email email@example.com.