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Open Enrollment April 15 through May 16

Open Enrollment is April 15 through May 16. During this time employees may elect to enroll themselves, their spouses and/or dependents into one of three plan options: 750 Plan, HDHP or CDHP. Open enrollment provides the opportunity to consider any plan changes, such as adding or dropping coverage for family members, or electing or increasing supplemental life insurance. It is also an opportunity to decide to participate in a Medical Flexible Spending Account (on the 750 Plan or HDHP) or the Health Savings Account (for CDHP enrollees). The UA Choice Enrollment Guide, found on the benefits Web site, will help you select thehealth plan that best meets your needs and budget.

The rates for FY15 have changed to more accurately reflect the cost of the plans. Employees enrolled in the Consumer Driven Health Plan (CHDP)—a population that helped bring down plan costs significantly last year—will see a decrease this year. Employees in the High Deductible Health Plan (HDHP), depending on the number of dependents claimed, will have either a slight increase, or decrease. Employees enrolled in the 750 plan will see an increase that also varies depending on the number of dependents. However, regardless of plan choice and the rate of increase or decrease, those utilizing the wellness rebate (READ MORE HERE) will experience a significant reduction in payroll costs for the plan for FY15.

There are a few other good-news changes for FY15. The pharmacy benefit on the 750 Plan and the HDHP now has a family out-of-pocket maximum of $1,700 per plan year. The individual maximum of $1,000 is still in place. The Preventive Dental Benefit for the HDHP and the CDHP has been increased to 100 percent of allowable charges. All other features of the dental plan remain the same.

In response to the Affordable Care Act, vision and dental plans are now considered “excepted benefits.” Employees now have the option to waive participation in these plans. Waiving coverage will not reduce the payroll contribution for health care.

To save on printing and postage, UA will not send an open enrollment packet out to employees this year, though a letter detailing the FY15 changes will be sent to employees’ home address. All open enrollment forms, benefit summaries and informational materials will be available on the University of Alaska Benefits Web site at www.alaska.edu/benefits .

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