Page 2 - Guide
P. 2
Dear Valued Employees,
As you know, every year we have an Open Enrollment period for employees
to select their beneits for the coming year. This year, that time period will be
from October 12 through October 31. That being said, I must also let you
know we’ve been faced with higher claims affecting our premiums, resulting
in increased rates.
For several years we’ve been fortunate to hold the employee contributions
relatively lat while the company absorbed the increased costs. Unfortunately
for this coming year, even with the company contributing at least 70% of
the costs we have had to make some signiicant adjustments. It just isn’t
possible to maintain our current employee rates as well as our plan design.
The simple fact is we’ve had more folks in need of more services (medical
and pharmacy) under our plan. I also want to be clear: taking care of our
individual health and being a more conscious consumer of healthcare are two
of the most important things we can do as individuals.
The following will be changes to the 2015–2016 plan design.
X Employees will now be responsible for funding the irst $500 of the
deductible for employee coverage and the irst $1,000 of the deductible
for family coverage (i.e., employee/spouse, employee/children, family).
The company will then continue to fund the next $1,000/$2,500
(employee coverage/family coverage) toward the deductible through the
Health Reimbursement Account (HRA).
X Out-of-pocket maximums have increased by $1,000/$1,500 respectively;
however, prescription copays will now count toward your out-of-pocket
maximum.
Based on these changes, you should consider utilizing the Flexible Spending
Account (FSA), which will enable you to set aside monies with pre-tax dollars
to help offset these expenses.
2
2015 Open Enrollment
As you know, every year we have an Open Enrollment period for employees
to select their beneits for the coming year. This year, that time period will be
from October 12 through October 31. That being said, I must also let you
know we’ve been faced with higher claims affecting our premiums, resulting
in increased rates.
For several years we’ve been fortunate to hold the employee contributions
relatively lat while the company absorbed the increased costs. Unfortunately
for this coming year, even with the company contributing at least 70% of
the costs we have had to make some signiicant adjustments. It just isn’t
possible to maintain our current employee rates as well as our plan design.
The simple fact is we’ve had more folks in need of more services (medical
and pharmacy) under our plan. I also want to be clear: taking care of our
individual health and being a more conscious consumer of healthcare are two
of the most important things we can do as individuals.
The following will be changes to the 2015–2016 plan design.
X Employees will now be responsible for funding the irst $500 of the
deductible for employee coverage and the irst $1,000 of the deductible
for family coverage (i.e., employee/spouse, employee/children, family).
The company will then continue to fund the next $1,000/$2,500
(employee coverage/family coverage) toward the deductible through the
Health Reimbursement Account (HRA).
X Out-of-pocket maximums have increased by $1,000/$1,500 respectively;
however, prescription copays will now count toward your out-of-pocket
maximum.
Based on these changes, you should consider utilizing the Flexible Spending
Account (FSA), which will enable you to set aside monies with pre-tax dollars
to help offset these expenses.
2
2015 Open Enrollment
