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Transcript of Open Enrollment
2016 Life Insurance
Next: Follow these steps in Kronos to enroll online
If you have any questions, see HR.
You'll have the option to...
Only time to change*
*Unless you had a life changing event....
If you do nothing...
PROVIDE A TRADITIONAL PLAN
- High Deductible plans (HDHP)
paired with HSA's offer a chance to
save now & later.
- Trying to provide the most cost-
effective way to manage the
increase in health care costs.
- Cost of health benefits rising.
- Prescription drug cost increases.
Medical Plan Summary
Let's take a look....
HDHP Paired with an HSA
HDHP paired with an HSA =
LET'S LOOK AT
OLD TRADITIONAL TO $2500 HDHP
OLD TRADITIONAL TO $3500 HDHP
OLD $2500 HDHP TO NEW $2500 HDHP
OLD $2500 HDHP TO $3500 HDHP
HEALTH CARE PROVIDERS
- Blue Cross Blue Shield
- Delta Dental (PPO/Premium)
- Blink Vision ( Discount Plan)
- Avesis ( Insurance Plan )
SPOUSAL COVERAGE OFFERED ON
Flexible Spending Account (FSA)
Provides you with a tax advantage that can help you pay health and dependent care expenses on a pre-tax basis!
- 2,500 Max Contribution
- Health related expenses
- Dental & Vision
Limited Liability Health
- High Deductible Health Plan Only
- $2,500 Max Contribution
- Dental & Vision
- Child daycare expenses
- Must use a licensed provider
* Unused funds of $500 or less will rollover into the next plan year!
Health Savings Account
Alliance Benefit Group
- Allows you to make tax-free payroll contributions to a savings acount which can be used for Medical Expenses
- Keep in mind - HDHP have lower premiums each month compared to a traditional plan. So, save that difference and contribute it to your HSA
- Maximum Contributions
- Single: $3,350
- Family: $6,550
$1,000 Catch Up Provision for Employees over Age 55
All unused Funds are invested and rolled over each Year!
- Switched from The Hartford to Voya
- List the changes in policy, etc.
Health Risk Assessments
Offered through MercyCare
Kinze Innovation Center
- Biometrics: Blood Pressure, Body Mass
Index, and waist circumference
*more details to follow
IF you participate, you will receive a contribution to your HSA.
Contributions will be paid out in increments on 1/1 and 6/1
Open Enrollment in 6 Easy Steps:
1. Review the information distributed during the
2. Decide which plans work best for you and your
3. Log on to Kronos to elect your benefits
4. Follow directions provided in your packet
5. Review your electronic selections
6. Click the "Submit" button and print your
Your current benefits will NOT rollover. You must actively enroll online.
- Cost share Kinze 80%/Employee 20%
- Kinze contribution of $500 (employee)/$1000 (employee +) into HSA contingent upon participation in health screening
Kinze HSA Contribtuion tied to Health Screens
- Employee Only = $500
- Employee + Spouse, Child, or Family = $1,000
Willing to contribute money if one visits their health care provider and participates in biometrics between January 1st - Feburary ?
Will be 100% covered under your preventitive care visit for the year. (double check????)
Medical, Dental, & Vision
Located in the KIC Computer Labs
- ? AM - ? AM
-? PM - ? PM
HEALTH PLAN STRUCTURE
3 TIER HIGH DEDUCTABLE PLAN
3 Tier HDHP
Alliance Benefit Group
*New* - no longer a Flex Spending Account.
When paired with an HDHP, becomes Limited FSA = can
be used for dental & vison
REMINDER: Only $250 roll over at end of year!
Limited Flex Spending Account
OLD TRADTIONAL TO $5000 HDHP
OLD $2500 HDHP TO $5000 HDHP