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2013 BENEFITS. Agenda. Benefits Overview Medical Coverage Health Savings Accounts Flexible Spending Accounts Dental Coverage Vision Coverage Basic Life Coverage Disability Coverage 403(b) Retirement Plan Benefit Contacts.
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Agenda • Benefits Overview • Medical Coverage • Health Savings Accounts • Flexible Spending Accounts • Dental Coverage • Vision Coverage • Basic Life Coverage • Disability Coverage • 403(b) Retirement Plan • Benefit Contacts
Homeward Bound provides a comprehensive benefits package to help protect your health, wealth, and your well-being. You have the opportunity to customize a benefits package that meets your personal needs. Benefits Overview
Benefit Eligibility Overview • Active employees regularly scheduled 48 hours or more per two week pay period • First of the month following 90 days of employment • Your eligible dependents include your: • Current legal spouse • Child(ren) up to the age of 26 • Natural children and legally adopted children; • For whom you or your spouse is legal guardian; • Your stepchildren (child of your spouse); • Children who are required to be covered by reason of a Qualified Medical Child Support Order (QMCSO), • Disabled dependent over age 26
Benefit Elections • Elections will remain in effect all year • You may only make changes to your benefits during the year if you have a qualifying life event including: • your marriage, divorce or legal separation • death of your spouse or covered child • birth or adoption of an eligible child • a change in your or your spouse’s work status that affects benefits • a change in your child’s eligibility for benefits • a change in residence or work site that affects your eligibility • receiving Qualified Medical Child Support Order (QMCSO) • All paperwork must be submitted to HR no later than 30 days from the event
Benefit Elections • Deductions from your paycheck for the new medical plan year will begin with the first payroll in January or the month your coverage takes effect. • Pre-Tax Premiums & contributions are taken out before your taxes are calculated which lowers the amount of your gross pay that is taxable; therefore, you pay less in taxes! Pre-tax benefits include: • Medical Dental and Vision Premiums • Flexible Spending & Health Savings Account Contributions • Post-Tax Premiums & Contributions are taken out after your taxes are calculated, increasing your Social Security benefit. Post-tax benefits include: • Voluntary Short Term Disability Insurance • Voluntary Long Term Disability Insurance
Medical Plan • HBI offers three plans through HealthPartners
Medical Plans - In Network Benefits *Once the out-of-pocket maximum has been reached, the plan will cover eligible expenses at 100%. This is only an outline of in-network plan benefits. Please see the Certificates or call Customer Service for complete details.
Health Savings Accounts • The Health Savings Account is a tax-exempt savings account established by an eligible individual. • HBI will match your contribution up to $25 per month for employee only and up to $50 per month for family coverage. • There are no “use it or lose it” rules • The HSA is offered through Anchor Bank • To contribute to your HSA, you must complete the paperwork provided upon enrollment in the Empower HSA Plan • More information about HSAs can be found: • The U.S. Treasury's website – www.ustreas.gov • HBI’s 2013 Benefits Guide, pages 7-9
Medical Plan Cost Share *HBI matches employees’ contributions to their HSA up to $25 per month for single coverage and up to $50 per month for family coverage.
Health Plan Case Study: John By contributing $300 to his HSA, John saved $60 in taxes.* He also received matching contributions from HBI of $300. *Tax savings will vary by individual.
Health Plan Case Study: Maria By contributing $1,000 to her HSA, Maria saved $200 in taxes.* She also received matching contributions from HBI of $300. *Tax savings will vary by individual.
Medical Plan Resources • CareLine Service – 800-551-0859 – Nurse advice line for when to see a doctor, medicines & home care • Nurse Navigator Program – 800-883-2177 – Understand your health care, benefits and treatment programs • BabyLine Phone Service – 800-845-9297 • Web Wellness Center – get access to a range of health information and online support, including • Personal support, discounts, and tools & resources • Frequent Fitness – save $20 on your monthly healthy club membership when you work out 12 or more days each month. Visit healthpartners.com/discounts to find a participating health club and sign up. • Sign in to HealthPartners’ Member Service Center at healthpartners.com for details or call Member Services at 1-800-883-2177
Flexible Spending Accounts • Homeward Bound offers three flexible spending account opportunities: • Health Care FSA - maximum of $2,500 • Limited Health Care FSA for employees with HSAs - maximum of $2,500 • Dependent Care FSA - maximum of $5,000 • The FSA accounts are administered by Benefit Extras REMEMBER… All FSA claims must be submitted for reimbursement by March 31st
Flexible Spending Accounts • Eligible Health Care Reimbursement expenses include: • Medical, dental, & vision deductibles and copays • Prescription drugs • Hearing exams & aides • Eye glasses, contact lenses, or LASIK • Over-the-Counter drugs require a prescription • Examples of eligible Dependent Care Reimbursement Expenses include: • Private child day care provider • Summer camp (exclusive of overnight expenses) • Pre-school / Montessori IRS Guidelines:www.irs.gov “Search Forms & Publications” 502 – Health Care FSA 503 – Dependent Care FSA
Flexible Spending Accounts • If you enroll in the HSA Health Plan, you will not need a full Medical FSA. • The HSA provides that same tax-favored treatment of medical, dental and vision expenses. • You are able to enroll in a Limited Medical Spending Account, however this will cover only your dental & vision expenses. REMEMBER… If you do not use all the money in your FSA accounts by the end of the year you lose it! For more information contact: www.benefitextras.com 1-866-435-6858 Eligible Expense Code: bei518
Dental Plan Find a Network Dentist: www.deltadentalmn.org 1-800-553-9536 *Dentists who have signed a participating network agreement with Delta Dental have agreed to accept the maximum allowable fee as payment in full. Non-participating dentists are not obligated to limit the amount they charge; you are responsible for paying any difference.
Vision Plan *Routine eye exams are generally considered preventive care and are covered at 100% with HealthPartners’ insurance
Vision Plan • Comprehensive eye exams can identify both vision-related and major medical conditions • Diabetes, Hypertension, High Cholesterol • Early identification of such conditions can save you money on future medical claims • UHC’s national provider network includes more than 30,000 providers private practice and retail chain providers, as well as United Optical stores. • Convenient access to care, including weekend and evening hours. • Visit the provider locator to find a participating provider. For more information contact: www.myuhcvision.com 1-800-638-3120
Life Insurance • Homeward Bound pays the entire cost of employees’ Basic Life coverage through USAble Life. • The benefit is one time your annual earnings, rounded to the next higher $1,000, up to a maximum of $60,000 • The minimum benefit is $15,000 • You will need to designate a beneficiary with Human Resources
Short Term Disability Insurance • Voluntary election up to 60% of your weekly pay • $50 units, subject to a minimum amount of $100 and a maximum amount of $1,000 per week • Benefits begin after 7 consecutive days of disability due to accident, sickness or pregnancy • Benefits paid up to 3 months per disability • Written documentation from a physician verifying the disability is required • If you do not enroll when first eligible, evidence of insurability and approval from Assurant will be required
Long Term Disability Insurance • Voluntary election up to 60% of your monthly pay for the benefit • $100 units, subject to a minimum amount of $500 and a maximum amount of $5,000 per month • Benefits begin after 3 months (elimination period) of disability • Monthly benefits may continue to be paid as long as you remain disabled until your 65th birthday • Evidence of insurability is not required, even for late enrollees, unless you were denied coverage prior to January 1, 2009
403(b) Retirement Plan • You may contribute to the 403(b) plan, a tax deferred annuity (TDA), anytime after 3 months of employment with Homeward Bound. • Contributions are deducted pre-tax or post-tax from your paycheck and deposited in an interest bearing account. • Automatic enrollment will begin at 2% of your pay after the 3 month waiting period unless you change your election or opt out. • After 1 year of service, your contribution will increase to 3% • After 2 years of service, your contribution will increase to 4% • After 2 years of qualifying service, HBI will match your contribution, up to 2% of your annual pay. You are immediately 100% vested in all contributions. • After 4 years of service the match increases to 3% • After 6 years of service, the match increases to 4% For more information contact: BPA at 1-800-530-1272
