During that time, employees can make changes to and enroll in a number of benefits, including health, dental and vision insurance; Get Healthy Now; and dependent care and health care flexible spending accounts.
In 2013, for the first time in four years, employees will see an increase in health insurance premiums. For active employees at .80 FTE or greater and retirees, premiums will increase $25 per contract per month for all health plan options and all coverage levels.
This amount will be shared between two-employee family contracts. Part-time employee premiums will be moderately higher, since part-time employees receive 50 percent of the subsidy provided to full-time employees.
“UofL health care cost increases have been materially less than national trends over the past three years — thanks in large part to employees taking care of themselves,” said Sam Connally, vice president for human resources. “We are also seeing very positive results from our health and disease management programs in keeping costs down. Despite these efforts, we were left with a net deficit in the 2013 health plan year that required an employee premium increase. On the recommendation of the Human Resources Advisory Committee, we have elected to spread this increase evenly throughout all health plan options, to minimize the impact on individual employees.”
Starting now, employees should carefully review what options are available during open enrollment, said Dana Hummel, director of benefits.
“We encourage you to take the time to review all benefit options and make informed choices for you and your family,” Hummel said. “As health care consumers, we must choose and use our benefits wisely.”
Besides the premium increase, here are other things employees should know about open enrollment this year:
- You can go to the open enrollment website to review benefits information.
- UofL employee health plan coverage, copays and deductibles will stay the same in 2013 as they were in 2012.
- The Cardinal Care health plan option will be closed to new enrollees. People who are enrolled in Cardinal Care can stay in the plan for 2013. There is a potential that the Cardinal Care option will be phased out beginning in 2014. More details will come in 2013, as the university evaluates this option.
- The Cardinal Care plan will have an out-of-network benefit if UofL Physicians are not able to accommodate employee needs. The out-of-network benefit will pay 60 percent and the member will pay 40 percent.
- You must enroll every year for a voluntary Flexible Spending Account (health care and/or dependent care).
- The maximum you can contribute to the Health Care Flexible Spending Account will be reduced to $2,500 this year. This reduction is required by the health care reform law. If you waive health insurance and have the $2,100 waiver dollars put into a Health Care FSA, you can also contribute $2,500 of your own dollars. The $2,500 limit is for employee contribution only.
- The Dependent Care Flexible Spending Account limit remains unchanged at $5,000.
- Employees who waive health insurance and want their waiver dollars in a Dependent Care account must enroll in a Dependent Care FSA (even if they were enrolled in 2012).
- To enroll in Get Healthy Now and earn the $40 monthly premium incentive, employees must complete a new health risk assessment between Oct. 22 and Nov. 22 (even if they were enrolled in 2012).