Title: BENEFITS OVERVIEW
1BENEFITS OVERVIEW
- Benefits for Educated Consumers
2BENEFITSPlan Year April 1 March 31
- TAX SAVINGS PROGRAM Elected premiums will be
sheltered on a before-tax basis under Section 125
of the IRS Tax Code - You have thirty-one (31) days from your hire date
to elect these pre-tax benefits (excludes 403b)
or you must wait until open enrollment - Open Enrollment is once a year in February. You
can make changes to your pre-tax benefits for the
following year effective April 1st. - Coverage is locked for benefit plan year
(April-March) unless there is a qualified status
change. You must make changes to benefits within
thirty-one (31) days of the status change. See
Changing Coverage during the year on the Benefits
Webpage. - ELIGIBLE DEPENDENTS Include your spouse,
domestic partner, dependent child(ren), and
domestic partner dependent child(ren)
3FORMS EFFECTIVE DATES
- NEW HIRE TAX SAVINGS PROGRAM ELECTION FORM
- ANY APPLICABLE ENROLLMENT FORMS
College Sponsored Benefits Health- effective
date of hire Dental-1st of the month after date
of hire Voluntary Benefit Plans Lincoln
Voluntary Life Insurance- effective immediately
for GI Amounts American Heritage Cancer
Insurance- determined by insurance
company American Heritage Heart Care Insurance- -
determined by insurance company 20/20 Eye Care
Plan Vision- 1st of the month after date of
hire CNA Long Term Care Insurance- determined by
insurance company
4ICUBA
- Independent Colleges and Universities Benefits
Association (ICUBA) - Better Benefits Through Collaboration
- 6400 Employees from 11 ICUF Schools
- Barry University
- Beacon College
- Clearwater Christian College
- Edward Waters College
- Florida Institute of Technology
- Florida Memorial University
- Nova Southeastern University
- Palm Beach Atlantic University
- Rollins College
- Saint Leo University
- The University of Tampa
- 501(c) 9 corporation to purchase benefits for
members - MEWA-multiple employer welfare association
- Pool purchasing power to reduce admin fees,
commissions, premium taxes and high margins of
insurance company fees
5ICUBA HEALTH INSURANCE
- Four BlueCross BlueShield (BCBS) of FL PPOs for
medical benefits - No primary care physician required and no
referrals to specialists - In and out of network coverage available
- Pre-authorization required on certain services
- Four tier Prescription Plan benefits through
Walgreens Health Initiatives (WHI) - If declining insurance now- can enroll later
within 31 days of a loss of coverage/status
change or during annual open enrollment - Pre-existing conditions- need proof of a year of
prior coverage with no more than a 63 day break
to waive the 1 year pre-existing clause
6Four PPO Health Plans
- Risk/Reward Blue Options PPO
- Risk/Reward Blue Choice PPO
- PPO 70 (Blue Choice)
- PPO 80 (Blue Choice)
- Health Insurance Premiums
- College currently subsidizes 63 of the total
premium for employee and eligible dependents - All plans have college funded Health
Reimbursement Account (HRA)
7ICUBA Health Insurance Plan Design
- Differences
- Co-pays- small amounts you pay for services, (ie.
Rx, ER) - Deductibles- larger amounts you pay for services
outside of office visits, prescriptions, ER - Coinsurance- cost sharing between you and the
ICUBA plan - Annual Out of Pocket Max the most you will
pay out of pocket during the plan year (excludes
copays) - HRA Amounts -monthly contribution to your debit
card account funded by the College - Provider Network - Blue Choice (3 plans) vs.
Blue Options (1 plan)
- All four plans have same
- Prescription drug benefits
- Annual wellness benefit 100
- Enhanced wellness benefits 100
- Plan rules coverage
- BCBS FL website access
- 24/7 health info nurse line
- Blueprint for Health resources
- BlueComplements discounts
- Better You From Blue worksite wellness programs
- ER Urgent Care
8Risk/Reward Blue Options vs. Risk/Reward Blue
Choice
- Risk/Reward Blue Options has
- Same plan design (deductibles maximums)
- Same HRA contribution
- Lower premiums
- Different provider network called NetworkBlue
- Providers rewarded for quality care
- Financial Incentives for following best in class
guidelines - comprehensive support services including
quarterly personalized health record and an
awards incentive program
8
9BCBS Health Plan Providers
- To verify if a Provider is in either network
- access the provider directory at www.bcbsfl.com
and/or - call customer service at 800-664-5295
- 2 ways to search online
- Choose BlueOptions(Network Blue) or BlueChoice
(Preferred Patient Care PPO) from the pull down
Plan box - Choose All Plans from the pull down box and see
if the doctor has NetworkBlue or Preferred
Patient Care PPO in their participating Networks
list
9
10In Network- Plan Comparison
11In Network- Plan Comparison
12In Network Deductibles/Max with annual HRA
13BCBS Tools/Resources
- Blueprint for Health
- MyBlueServiceSM Online
- Health assessments
- Lifestyle Management Programs (smoking, weight,
eating, stress, back pain) - Educational resources
- Claims history
- Provider look up
- More!
- Health Dialogue 24 Health Coach Line (nurses,
therapists, dieticians, etc.) - 1-877-789-2583, day or night, 365 days a year
- Healthy Additions Pregnancy Program
- BlueComplements SM
- Complementary Alternative Medicine Program
Health Alternatives - Laser Vision Correction
- Enhanced Vision Care
- Contact Lens Mail Order
14Pharmacy Benefit Manager (PBM)
- Pharmacy Benefit Manager
- Walgreens Health Initiatives (WHI)
- 24/7 Customer Service
- Separate ID card for pharmacy benefits
- Preferred Medication List is available at
www.mywhi.com - Four Tier Copay Structure
-
152008 Prescription Drug Copays
-Brand with Generic Available Penalty Copay
PLUS the difference between the cost of the brand
the generic drug not to exceed the cost of the
brand drug -Refer to your Preferred Medication
List to determine the actual copays for your
medications
15
16WHI Pharmacy Networks
- WHI Retail Pharmacy Network
- Consists of over 62,000 chain and independent
pharmacies nationwide - Participating pharmacies include Publix, CVS,
Walgreens, Costco, Wal-Mart, Target, etc. - WHI Advantage90Retail Network
- Consists of over 39,000 chain and independent
pharmacies nationwide including Albertsons, CVS,
Kmart , Medicine Shoppe, Publix, Sam's Club,
Target , Walgreens , Wal-Mart , Winn-Dixie - 90-day maintenance medications
- WHI Mail Service Pharmacy
- Mail Service Pharmacy located in Orlando, Florida
- Currently filling more than 9 million
prescriptions per year - Capacity to dispense more than 22 million
prescriptions per year
17HEALTH REIMBURSEMENT ACCOUNTS (HRA)
- US Dept. of Treasury July 2002
- College contributions in addition to 63 of
premium - Can be used only by family members on the ICUBA
medical plan - Two methods of reimbursement Mastercard Debit
or paper reimbursement (within 1 year from date
of service) - Keep receipts, Explanations of Benefit (EOB), etc
for verification of medical expense - Unused money rolls over indefinitely in a secure
trust fund - while employed and on a health plan with HRA
- ICUBA Administrator for Flex HRA -
- P.O. Box 616927
- Orlando, FL 32861-6927
- Phone 407-354-4997 or 866-377-5102
- Fax 866-377-5180
- benefitsadministration_at_icuba.org
- Check balance online at www.repayme.com
18Health Reimbursement Accounts (HRA)
- Eligible Expenses (full listing in Plan
Document) - out of pocket medical services (ie. medical,
dental, vision) - Over the counter drugs
- COBRA,long term care, retiree health premiums
- Non-eligible expenses
- life, long term disability, any other pre-tax
premiums - non-medical expenses, cosmetic or other not
medically necessary - dependents that are not enrolled in the ICUBA
plan
19Health Reimbursement Accounts (HRA)
- Money earns interest at the FL Dept of Financial
Services rate on a quarterly basis - HRA is never taxed
- HRA can never be converted to cash
- Portable with 36 months continuous participation
- (monthly administrative fee applies if no longer
employed) - If you drop health/HRA plan without 36
mthsforfeit - Leave employment without 36 mthsforfeit
- HRA available end of each month you participate
in high deductible plan - 1st of the month after hire for new hires and
last full month for exits
20HRA Monthly Funding Schedule
21AETNA DENTAL INSURANCE
- Three plans to chose from
- DMO Plan Network Providers only
- PPO Plan In Network or Out of Network Providers
- Indemnity Plan - Any dentist
- www.aetna.com/docfind
- Member Services-877-238-6200
22Aetna Dental DMO Plan
- Primary care dentist selection required
- Change dentist by 15th of month effective 1st
the following month - 5 office visit copayment per visit
- Member pays copayments for all services
- Specialty referral required (except
orthodontists) - Orthodontia covered for adults and children
- Members receive ID cards with provider designated
- No deductibles, maximums or claims forms
- Internet access to provider information
- In Network Coverage only
- Pre-Determination for anything over 300.00
- One time emergency authorization available
23Aetna Dental PPO Max Plan
- Go to a dentist in or out of network- different
benefit levels - Use Participating PPO Dentist - No Balance
Billing - Claims are paid based on fee-scheduled amounts
for the Central Florida area - Non-PPO Dentist can charge above fee-schedule
member can be balanced billed - Lowest out of pocket costs when using PPO Dentists
24Aetna Dental PPO Max Plan
- Annual Deductible
- Individual
50 -
Family 150 - Preventive Services
100 of fee schedule - Basic Services
80 of fee schedule - Major Services
50 of fee schedule - Annual Benefit Maximum 1000
- Orthodontia for adults and children 50
- Orthodontia Lifetime maximum 1000
- No deductible for orthodontia
- Deductible applies to Basic Major services
only - -Non network claims paid at the fee-scheduled
amount
25Aetna Dental PPO Max Examples
- Important Information
- Fee Schedule is based on Contracted Rates with
PPO Dentists NOT Reasonable and Customary Charges -
- Example
- John goes to a participating dentist for a
crown - Scheduled PPO Amount for Procedure 2750 (crown)
551 - Assume Deductible Has Been Met
- Plan pays 50 of Maximum PPO Allowance
275.50 - Member pays 275.50
26Aetna Dental PPO Max Examples
- Important Information
- Fee Schedule is based on Contracted Rates with
PPO Dentists NOT Reasonable and Customary Charges -
- Example
- John goes to a non-participating dentist for a
crown - Scheduled PPO Amount for Procedure 2750 (crown)
551 - Non-participating dentist charges
700 - Assume Deductible Has Been Met
- Plan pays 50 of Maximum PPO Allowance
275.50 - Member pays 700.00(Dentist Charge)-275.50(Maxi
mum PPO Allowance) 424.50
27Aetna Dental Indemnity Plan
- Go To Any Dentist
- Plan pays at Reasonable Customary (80th
Percentile) - Deductible 75.00/150 Family
- Preventive Services 100 of R C
- Basic Service 80 of R C
- Major Services 50 of R C
- Annual Maximum 1000
- Orthodontic Services 50
- Orthodontic Lifetime Maximum 1000
28Aetna Vision Discounts
- 800-793-8616
- Show Aetna Dental Card to receive discounts
- With all Aetna Dental Plans
- Sears, Target, Lenscrafters and Pearl Vision
- Discounts on exams, frames, contacts LASIK
- Additional information online
29FLEXIBLE SPENDING ACCOUNTS
- Two types
- Health Care Spending (HCSA)
- Dependent Care Spending (DCSA)
- Employee pre-tax dollars
- Two methods of reimbursement
- Mastercard Health Debit Card
- paper reimbursement (within 60 days of end of
plan year) - Administered by ICUBA
- 866-377-5102 or benefitsadministration_at_icuba.org
- Check Balances at www.repayme.com (use Internet
Explorer) - Use it or lose it provision (April-March)
- Accounts must be elected each year during open
enrollment
30HEALTH CARE SPENDING ACCOUNT (HCSA)
- All IRS dependents, even if not on ICUBA medical
plan - Funds available at the beginning of the plan year
(April 1) - Maximum of 3,000 per benefit year pro-rated
based on date of hire - Keep receipts, explanations of benefit (EOB), etc
for verification of medical expense - Examples of eligible expenses for health account
- Co-pays- office visits and Rx
- Deductible on PPO and dental
- Eye care Costs
- Over the counter medicines
- Use it or lose it within the plan year
(April-March)- Expenses should normally be
incurred by March 31st, but this is extended
through June 15th. Any unused money beyond June
15th is forfeited.
31Health Care Spending Account (HCSA) vs.Health
Reimbursement Account (HRA)
32DEPENDENT CARE SPENDING ACCOUNT (DCSA)
- Dependent care expenses for children under age 13
or elderly parents if they are your IRS tax
dependent so that you and your spouse can work - Funds available as payroll deductions occur
- Maximum of 5,000 per benefit year pro-rated
based on date of hire - May be able to use ICUBA Mastercard
- Documentation of dependent care expense required
33VOLUNTARY BENEFIT PLANS
- In addition to the insurance benefits provided by
Rollins College, various insurance companies make
other benefits available to employees of Rollins
College. These benefit programs are not
sponsored or maintained or endorsed by Rollins
College, and participation in these programs is
completely voluntary for employees. - Voluntary Benefit Plans Offered
- Lincoln National Life Insurance - Voluntary Life
Insurance - American Heritage Life Cancer Insurance
- American Heritage Life HeartCare Insurance
- 20/20 Eye Care Plan Vision Insurance
- CNA Long Term Care Insurance
- Open enrollment for voluntary benefit plans will
occur at the same time as open enrollment for
College sponsored benefits for ease of
administration and convenience.
34LINCOLN VOLUNTARY LIFE
- 10,000-500,000 employee
- 10,000 - 250,000 earnings for spouse (50 of EE
amount limit) - 2,500- 12,500 for children
- Spouse Children coverage available only with
additional voluntary employee coverage - Guaranteed Issue under age 60-150,000 employee
50,000 spouse - Portable after 12 months of coverage (except in
the case of disability or retirement) - See Rate Sheet for rate per 1,000 per month
35AMERICAN HERITAGE CANCER HEARTCARE INSURANCE
- Supplemental- in addition to health insurance
- Portable
- Contact Agent Jan Hunt for details-407-677-8448
- Cancer 16.98 individual, 30.32 family
- Heart Care 23.46 individual, 45.64 family
- Enrollment Form
3620/20 VISION INSURANCE
- Network Providers- FL Eye Clinic Optical
Outlets - www.2020eyecareplan.com or 800-525-9778
- Eye exam, lenses, and frames every 12 months
- 4 co-pay exam 10 co-pay for supplies
- 85.00 Frame Allowance
- 119 Contact Lenses Allowance in Lieu of
Eyeglasses - Premiums/month
- 5.75 single 10.38 two-person 17.10 family
- Small out of network/ER reimbursement
37CNA LONG TERM CARE INSURANCE
- Nursing home, home health, caregiver, adult day
care - Employee, spouse, parents, grandparents
- Premiums are after tax and do not increase with
age - Three levels of benefits- DNB Lifetime Max
- Two plans- Non-Forfeiture Benefit Account
- Life insurance built in
- Guaranteed benefit increase option
- Guaranteed Issue
- Portable
- See Rate Sheet for rates per month
3831 DAYS FROM HIRE
- College Sponsored Benefits
- HEALTH
- DENTAL
- FLEXIBLE SPENDING ACCOUNTS
- Voluntary Benefit Plans
- LINCOLN VOLUNTARY LIFE INSURANCE
- AHL CANCER INSURANCE
- AHL HEART CARE INSURANCE
- 20/20 VISION INSURANCE
- CNA LONG TERM CARE INSURANCE
- Return New Hire Tax Savings Form all applicable
enrollment forms within 31 days of hire
39LIFE INSURANCE, LTD, TRAVEL
- Life Insurance Lincoln National Life
- 2x annual base salary
- Excess Life Tax- if life amount over 50,000
- Convertible to individual policy
- Long Term Disability Lincoln National Life
- 66 2/3 of annual base salary
- 180 day elimination period
- Travel Accident Insurance- The Hartford
40Life LTD Additional benefits
- TravelConnect- provides coverage for employees
and their immediate family members traveling more
than 100 miles from home on either business or
pleasure. Services are provided through MEDEX
and include - assistance replacing lost or stolen travel
documents - medical, dental, vision and pharmaceutical
referrals - emergency medical evacuation and transportation
- emergency security evacuation
- travel assistance information such as travel
security information, government travel advice,
global monitoring, airline insider and crisis and
warning list alert areas is available on
www.jpfic.com by selecting the TravelConnect
link. You will need to enter your Rollins
College policy number for life insurance to enter
the web site. -
- BeneficiaryConnect- provides coverage for
beneficiaries at the time a life claim payment is
made. Services are designed to help
beneficiaries deal with difficult issues after
the death of a loved one and include grief and
legal counseling, financial counseling and
memorial planning assistance. -
41EMPLOYEE ASSISTANCE PROGRAMS (EAP)
- ICUBA Employee Assistance Program
- Provided by Magellan Health Services
- All eligible employees and members of their
household can access services at no cost - Services include
- up to 6 in person counseling sessions per
incident - family care resources such as elder care, child
care and special needs, - personal legal and financial services
- mind and body discount programs
- online tools and information
- critical incident services and training
- Call 800-416-0835 or www.magellanhealth.com
- EmployeeConnect Employee Assistance Program
- Provided by Bensinger, DuPont and Associates as
part of the College Life Insurance through
Lincoln - All eligible employees and members of their
household can access services at no cost - Services include
- up to 4 in person counseling sessions
- telephone and web access 24 hours a day, 7 days a
week - telephone access to legal counsel
42Retirement SavingsWhy should I start now?
Power of Time Get Started Early!!!
Source Fidelity Investments
43Decisions to Enroll in the Rollins 403(b) plan
- How much will I contribute?
- Which company (ies) will I choose?
- What asset allocation do I want?
- How when do I enroll?
44How much will I contribute?
- College contribution after 1 year of service
age 21 - Waiver possible if met eligibility requirements
from another college or university - Voluntary pre-tax or Roth after-tax contributions
allowed anytime - 100 Vested
IRS Maximum for Employee Contributions 15,500
for 2008 Catch up provisions- 50 years old
(additional 5,000) 15 years of service
(additional 3,000)
45Which company(ies) will I choose?
- Two core companies (employee college)
- TIAA/CREF RA (800-842-2776)
- Fidelity (800-343-0860)
- Employee Voluntary contributions only
- Pre-tax - American Century (800-345-3533)
- Pre-tax - TIAA/CREF SRA
- After-tax - Fidelity Roth
Loans hardship withdrawals allowed only on
employee voluntary money in the TIAA SRA
46Roth 403(b) Option
- After taxes
- Voluntary employee money only
- Fidelity only
- Not for everyone
- May be good for
- Younger employees (longer time horizon)
- Highly compensated individuals not eligible for
Roth IRA - Employees who want to leave tax free money to
their heirs - Employees who expect to be in a higher tax rate
in retirement than currently
47What asset allocation do I want?
- Do it yourself allocations
- you do the work
- Targeted Lifecycle Funds
- fund managers do the work
48How When do I Enroll?
- HOW DO I ENROLL?
- Complete Salary Reduction Agreement Account
Application(s) return to HR - WHEN DO I ENROLL?
- Sign up anytime and make changes anytime (payroll
deadline 15th of the month)
49Excellence
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