Yearend Benefit Options

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Year-end Benefit Options
Benefit Changes for 1-1-2008
10-30-2007, Human Resources
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What benefits do I have now?

• First step is to review your current benefit
  elections.
• Refer to Your Personal Benefits Statement
• Mailed to your campus mailbox week of Oct 15,
  2007
• Or log into ESS, Employee Self Service
• Link is on our homepage, www.uams.edu/ohr.
• Or call Human Resources/Employee Services at
  686-5650

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First the good news

• No rate increases for 1-1-2008 !
• The Benefits Fair is back, after a 2-year hiatus.
  
• Wednesday, November 14
• 730am 330pm, 1st floor Stephens Spine Center
• Visit one-on-one with benefit carriers, ask
  questions, enjoy the giveaways, register for
  door prizes, and of course hot dogs (sorry, no
  fried twinkies).

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And the not-so-good news

• No open enrollment for Medical or Dental.
• UA does not offer annual enrollment every year.
• But you can add coverage for you or family
  members if you are within 31 days of a qualified
  family change (such as marriage, divorce, or
  birth of child also spouses loss of coverage if
  he/she quits working).

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Medical insuranceWhats new?

• 3 benefit changes take effect 1-1-2008
• No co-pay for annual physical exam (to encourage
  preventive care)
• PharmaCare merging with CVS Caremark. Behind
  the scenes. Keep your prescription card still
  go to www.pharmacare.com for info.
• Clarification that high end imaging procedures
  (e.g. CT, PET, MRI) are subject to deductible
  coinsurance regardless if performed inside or
  outside your doctors office.
• Go to www.uams.edu/ohr (Human Resources home
  page) and click on Benefits, then Medical, to
  look at a benefit summary, comparison of plans,
  rates, drug formulary, etc.

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Medical insuranceWhat you need to do

• Current Participants
• No action required if you want to keep your
  current coverage and not make any changes.
• Complete Open Election form by December 14 if
  you want to change plans from Classic to Point
  of Service or vice versa.
• Review eligibility of family members. Drop
  coverage for any ineligible ex-spouses or
  children age 19.

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Medical insuranceChange plans? Your decision.

• Classic Managed Care Plan
• Similar to an HMO no benefits outside UA
  QualChoice network
• Lower premium
• Reduced mental health benefits (10 visits per
  year), no TMJ coverage
• Point of Service Plan
• Same in-network benefits as Classic, but also
  pays some if you go out-of-network (after
  separate deductible is satisfied)
• Higher premium because of the additional
  benefits, flexibility
• Best mental health benefits (30 visits per year),
  partial TMJ coverage
• Recommended if you have a child attending school
  out of state

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Dental insuranceWhats new?

• Current Participants Delta Dental will mail
  you information on the 3 changes for 1-1-2008
• New personalized ID cards (no longer use SSN)
• New carry-over provision for 1500 maximum
• Implants covered at 50
• Go to www.uams.edu/ohr and click on Benefits,
  then Dental to look at a dental benefit summary
  and rates.

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Dental insuranceHow does carry-over work?

• Annual benefit maximum doesnt change
  remains1500 per person
• But if you get one dental service during the year
  (e.g. checkup/cleaning) and your claims for the
  year are less than 750
• you can carry over 375.
• If you do this for 4 years, youll have the
  normal 1500 maximum plus 1500 carry-over
  meaning Delta could pay up to 3000 in benefits
  during a particular year.

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Dental insuranceWhat you need to do

• No action required if you dont want to make any
  changes
• Review eligibility of family members. Drop
  coverage for any ineligible ex-spouses or
  children age 19
• Add children under age 3 by December 14

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Section 125 Premium ConversionWhat you need to do

• No action required if you dont want to change
  how your Medical and Dental premiums are
  currently deducted from your paycheck.
• If you want to change to have your premiums
  deducted on a pre-tax basis, complete the premium
  conversion form by Dec 14.
• Or vice versa --you want to change from pre-tax
  to post-tax fill out the same form by Dec 14.
• Changes take effect first paycheck of 2008.
• FYI, most employees pre-tax to reduce their
  taxes. Risk is that youre locked into that
  deduction and coverage for the calendar year
  unless youre within 31 days of a qualified
  event.

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Flexible Spending AccountsWhats new?

• New grace period for health care FSA participants
• You have until March 15 (instead of usual
  December 31) to incur expenses to spend down your
  2007 account.
• Dont use your Conexis card for this. File a
  manual claim to be reimbursed. Card swipes
  made during 2008 can only debit your 2008
  account.
• March 31 remains deadline to file claims on prior
  years account.
• New IRS regs on Benefit Card usage

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Flexible Spending AccountsMore on the benefit
card

• NEW starting 1-1-2008 IRS limits where you can
  swipe your card to purchase FSA-eligible services
  or products.
• Healthcare providers are OK doctor, dentist,
  stand-alone pharmacy, hospital
• NOT discount or grocery stores unless they have
  an IIAS (computer system that can talk to
  Conexis and other FSA plan administrators).
• Walgreens, Kroger, Wal-Mart, Sams Club and
  Target have IIASs and are OK.
• ALWAYS keep your receipts when you swipe your
  card. Conexis may request you to send them.
  IRS rules dictate this.
• Benefit Card use is voluntary. You can opt
  instead to manually file a reimbursement like you
  have in the past.

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Flexible Spending AccountsWhat you need to do

• Consider if you will have at least 120
  out-of-pocket medical costs in 2008 to do a
  health care FSA.
• Consider if you will have daycare costs in 2008
  to do a dependent care FSA.
• If so and youre comfortable with the FSA claim
  process, enroll on-line at www.conexis.org
  between Nov 14 and Dec 14.
• Current participants be sure to re-enroll if
  you want to participate next year.

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Vision planWhat you need to do

• Current Participants
• No action required if you want to keep Spectera
  coverage. Automatically carries over into 2008.
• Complete a form by Dec 14 if you want to end
  coverage or take off family members effective
  1-1-2008.
• No open enrollment at this time. U of A is
  reviewing current vision plan will offer open
  enrollment at a future date.
• Plan your 2008 healthcare FSA accordingly in
  regards to eyeglasses and contacts.

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Critical illness planWhat you need to do

• Read open enrollment packet MetLife sends to your
  home.
• Consider if this plan will benefit you.
• If so, enroll before December 7.
• Fill in the application form in your packet and
  mail back to MetLife
• Can apply for up to 100,000 policy
• Benefit highlights
• Entire policy (10,000 to 100,000) generally
  paid out in full upon diagnosis. You spend it
  as you like.
• Covers cancer, heart attack, stroke, major organ
  transplant, kidney failure, coronary artery
  bypass graft

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What about other UA group benefits?

• No changes to rates or benefits for
• Optional and Dependent Life
• Accidental Death Dismemberment
• Optional Long Term Disability
• You can apply for coverage at any time, subject
  to approval by the carrier.
• Visit www.uams.edu/ohr and click on Benefits for
  detailed information about these benefits.

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What about the voluntary insurances?

• You can contact the carrier directly to apply for
  coverage at any time
• Liberty Mutual (home/auto/renters insurance)
• CNA (long term care insurance)
• Go to www.uams.edu/ohr and select Benefits, then
  the particular insurance for additional
  information and contact information.
• Visit with these carriers at the Benefits Fair.

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Where to get forms, ask questions

• Employee Services, Human Resources
• Room 1R08, first floor, Barton Research Building
• Also at 117 S. Cedar (house behind Burger King)
• Call 686-5650
• Go to our website, www.uams.edu/ohr. Click on
  Benefits 2008 for forms and details on changes
  for Jan 2008. Or click on Benefits, then each
  of the individual insurance and retirement plan
  plans to learn more about your UAMS benefits.

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December 14, 2007 is the deadline !!!

• Please mark this date on your calendar.
• Sorry, we cant accept any forms or late
  enrollment appeals after this date.
• If you work the night shift, drop by Human
  Resources after your Thursday, December 6 shift.
  We will open at 630 am on Friday, December 7 so
  you can pick up or turn in forms.