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2015 BENEFITS ANNUAL ENROLLMENT Wednesday, October 8 to Friday, October 17

2015 BENEFITS ANNUAL ENROLLMENT

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2015 BENEFITS ANNUAL ENROLLMENT. Wednesday, October 8 to Friday, October 17. Mandatory Enrollment. Must enroll in the following to have coverage in 2015: Dental Flexible spending accounts Medical Health savings accounts Vision. Optional Enrollment. - PowerPoint PPT Presentation

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Page 1: 2015 BENEFITS ANNUAL ENROLLMENT

2015 BENEFITS ANNUAL ENROLLMENT

Wednesday, October 8

to

Friday, October 17

Page 2: 2015 BENEFITS ANNUAL ENROLLMENT

Mandatory Enrollment Must enroll in the following to have coverage in 2015:•Dental•Flexible spending accounts•Medical

•Health savings accounts•Vision

Page 3: 2015 BENEFITS ANNUAL ENROLLMENT

Optional EnrollmentYou do not need to enroll in the following unless you wish to make a change:•Dependent life•Optional life•Short Term Disability

Page 4: 2015 BENEFITS ANNUAL ENROLLMENT

No changes No change to design or pricing:•Dental•Dependent life insurance•Flexible spending accounts•Optional life insurance•Short term disability•Vision

Page 5: 2015 BENEFITS ANNUAL ENROLLMENT

Medical Plans for 2015

Changes:POS HMO HDHP

Design Yes No YesRx Covered drugs Yes Yes No PA, QL, ST Yes Yes YesPricing Yes Yes No

Page 6: 2015 BENEFITS ANNUAL ENROLLMENT

POS Design ChangesAnnual Expenses 2014 2015

Deductible Individual Family

$ 750$1,500

$1,000$2,000

Coinsurance 20% No change

Coinsurance Maximum Individual Family

$3,000$6,000

No changeNo change

Out of Pocket Maximum Individual Family

$3,750$7,500

$4,000$8,000

Page 7: 2015 BENEFITS ANNUAL ENROLLMENT

HDHP Design ChangesAnnual Expenses 2014 2015

Deductible Individual Family

$2,500$5,000

No changeNo change

Coinsurance Not applicable 10%

Coinsurance Maximum Individual Family

Not applicable $1,500$3,000

Out of Pocket Maximum Individual Family

$2,500$5,000

$4,000$8,000

Page 8: 2015 BENEFITS ANNUAL ENROLLMENT

Health Savings Account Maximums •

2014 2015NKU $ 625 No changeEE <55 $2,675 $2,725EE 55+ $3,675 $3,725

NKU $1,250 No changeEE+1<55 $5,300 $5,400EE+1 55+ $6,300 $6,400

Page 9: 2015 BENEFITS ANNUAL ENROLLMENT

Pricing Changes

NKU beginning move to provide same subsidy for all options.

POS is ‘richest’ coverage and will be highest cost

HMO network results in more modest price increase

HDHP plan design changes allow for no cost increase

Page 10: 2015 BENEFITS ANNUAL ENROLLMENT

Questions?