Benefits Update Presented to TIPS

1
Benefits Update Presented to TIPS

• Susan Cunningham/Charles DeSantis
• November 20, 2002

2
Agenda

• Statement of Benefits Service Deliverables in
  2002
• Summary of Open Enrollment 2003
• Review of Benefit Program Deliverables in 2002
• Statement of Benefit Program Deliverable in 2003
• Introduction of next phase of Stanford Retirement
  Manager

3
Continued Focus on Service

• Internal
• Implemented phase I of Benefits knowledgebase
  called eLibrary
• Continue to uptrain staff to better serve
  Stanford University Community
• Improvement in calls answered from FY01 (75) to
  FY02 (87)
• Continuing to strive for a 90 average
• Minor face lift for BenefitSU completed meeting
  place for appointments

4
Continued Focus on Service (continued)

• External
• Improved Communications with more concise
  information
• New Retiree Advisory Committee formed in June
  2002
• Spanish Comparison Chart for Benefits created for
  1st time
• Continued outreach to department administrators
  to gather feedback to help improve service and
  deliverables.

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Deliverables 2002

• Implementation and creation of benefit business
  processes in PeopleSoft
• Health Welfare Plans
• Managed the Stanford PPO
• Collaboration with Work/Life on Childcare Grant
  Program
• Retirement Plans
• Introduced Phase I of Stanford Retirement
  Manager
• Designed and implemented Bargaining Unit
  Retirement Plan Elections
• Integration of EGGTRA regulations

6
Deliverables 2003

• Refinement of benefit processes in PeopleSoft
• Health Welfare Plans
• Negotiation and Plan Design for Open Enrollment
  2003
• Implementation of new system for benefit
  administration
• Integration of HIPAA regulations
• Retirement Plans
• Introduced Phase II of Stanford Retirement
  Manager
• Support Union Bargaining Process

7
More deliverables for 2003

• Retiree population
• Retiree Advisory Board
• Created Retire Web Site
• Enrollment on Web for retirees
• Create Retiree Medical Users Guide

8
Open Enrollment 2003

• Overall healthcare costs would have increased 35
• From 48,572,000 to 65,580,000
• To lower these premium increases, we
• Eliminated highest cost HMO
• Made plan co-pay changes
• Changed PPO administrator to Blue Shield
• Lowered overall cost to 61,000,000
• Introduce Debt Card/Direct Deposit to Flexible
  Spending Accounts

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Cost Difference
10
Web Enrollment

• Number of Employees enroll on web to date 3126.
  
• Number of Retirees to enroll to date 166.

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Open Enrollment Time Frame

• Open Enrollment Period November 1-22 (midnight)
• Extended Open Enrollment Phone Center Service
  Hours 7 am-7 pm, Monday-Friday
• Special Hours 11/22/2002 7am-Midnight on the
  last day (Friday)

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Stanford Retirement Manager

• Phase I collect participant plan elections
• Phase II integrate investment option elections
• Consolidated statement
• Single source of information
• Creation of Core Funds
• Availability of Loans
• Quicker transaction lower expense

13
Phase 1.5

• First Quarter of 2003
• Vanguard and Fidelity integrated
• TIAA-CREF still split
• By sometime in 2003
• TIAA-CREF integrated
• or
• TIAA-CREF available by transfer only

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Phase II