2 0 1 6 B E N E F I T S O V E R V I E WThursday, October 15 t h & Saturday, October 17th

AGENDA

IntroductionBenjamin Amponsah, Aquinas College

Health Plan ChangesLen Kogut, Aquinas College

Introduction to AcrisureShauna Erard, Acrisure Benefits Group

New Medical Plan ReviewKelly Lahr, Priority Health

FSA OverviewWes Spencer, 44 North

BENEFIT CHANGES FOR 2016

• Health Insurance – Change to HDHP (Vision included)

• Dental Insurance – No Change

• Other Insurances – No Change

REASONS TO CHANGE HEALTH BENEFIT PLAN

• Increasing costs to the employee and college need to be controlled.

• Reduce annual maximum out of pocket expenditure.

• Move to a consumer driven health plan.

• Follow the insurance industry trend and the ACA.

• Maintains preventative coverage.

• Opportunity to review future incentives for behavioral changes.

EMPLOYEE HEALTH CONTRIBUTION TREND

Single Double FamilyCY 2013 $ 200 $ 1,000 $ 1,400 CY 2014 $ 228 $ 1,068 $ 1,476 CY 2015 $ 480 $ 1,596 $ 2,064 CY 2016 $ 867 $ 2,409 $ 2,974

CY 2013 CY 2014 CY 2015 CY 2016$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

Single DoubleFamily

HDHP RATES AND HSA CONTRIBUTION

HDHP Rates

• Single: Employee $ 360 and Employer $ 5,515• Double: Employee $ 1,356 and Employer $

10,999• Family: Employee $ 1,764 and Employer $

12,026

Annual HSA ContributionDeposited quarterly at beginning of the period

• Single: $ 300• Double: $ 600• Family: $ 650

WHO IS ?

Headquartered in Caledonia, MI

Over 35 locations in 17 states

Over 1,000 employees nationwide

The Campbell Group began doing business

Acrisure was founded and acquired The Campbell Group

  

1960

2005

Restructured with an industry-leading platform

16 employee benefit professionals

 Entire team is located in Caledonia, MI

 Provide exceptional service to over 195 clients          

WHO IS ?

2011

priorityhealth.com

PriorityHSASM Overview

Aquinas CollegeClick icon to add picture

priorityhealth.com

Why HSA?

Easy win in today’s complex health care system:– Save now:

• Lower monthly insurance premiums• HSA deposits aren’t taxed or are tax deductible• Typically lowers income tax liability

– Save for the future:• The average retired couple will need $220,000 to

cover medical expenses not covered by Medicare in retirement*

• HSA funds roll over from year to year• Tax-free interest earned• You keep the money even if you change

jobs or insurance plans• Comprehensive and easy investment options

– Same doctors, same network, same pricing

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HSA basics

High Deductible Health Plan (HDHP) + Health Savings Account

(HSA)

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The Deductible

• Annual deductible for January 1, 2016 thru December 31, 2016

– $1,300 on a single policy (1 on contract)

– $2,600 on a family policy (2+ on contract)

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Plan Basics

• All medical and prescription services apply toward the deductible until it’s met

• You can use the money in your HSA to pay for these services

• Exception: Preventive Care

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Preventive Care

• Preventive care is covered at 100%• Examples of preventive health services:

– Routine physical exams – Well child care – Immunizations– Mammograms – Routine maternity

• Let your physician know during your preventive exam that you are planning on this being your preventive visit and ask if he will be billing differently

• The same with any labs that may be done

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Once the deductible is met…

• In-Network Benefit examples after deductible:

– 90% coverage physician services– 90% coverage for hospital services– 90% coverage emergency room– 90% coverage for advanced diagnostic imaging (PET, CT

and MRI)

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Out of Pocket Maximum

• Annual out of pocket for January 1, 2016 thru December 31, 2016

– $2,000 on a single policy compared to $6350 on the Progressions plan

– $4000 on a family policy compared to $12,700 on the Progressions plan

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Defining the HSA

• HSA through HealthEquity • All funds owned and controlled by you• Fully portable: goes with you when you terminate

employment or retire• Tax-free savings for medical expenses• Works in conjunction with the HSA powered plan

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Convenient access with HealthEquity

• Convenient access– Debit card– Online– Using our free mobile app– By telephone

• Use your HealthEquity account to– Check your balance– Review transactions– Review claims – Submit new claims or documents– Send payments and reimbursements– Access tax documents

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Easy HSA Set Up Process

• HealthEquity will mail welcome materials

• Welcome materials will include:– HealthEquity Visa health account card– Instructions for accessing member portal– Contact information for member services– Tips for maximizing health savings with an HSA

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HSA Eligibility

To contribute to an HSA, you must meet these simple requirements:• Covered under a qualified HDHP plan• You cannot:

– Have dual health coverage - unless it’s another HDHP or it’s “permitted insurance” (dental, vision, AFLAC)

– Be claimed as dependent on someone else’s tax return – Be enrolled in Medicare– Be enrolled in an FSA or HRA (limited accounts are ok)

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Spouse Eligibility

• If a spouse would like to open their own HSA bank account, they must also meet the eligibility criteria in the last slide.

• A spouse can be in an non-HDHP, as long as they are not the “owner” of the bank account.

• The funds in the employee’s HSA bank account can be used for any qualified medical expense for anyone included on their IRS tax return.

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HSA Eligibility

To contribute to an HSA, you cannot contribute to a traditional FSA• You can use a Limited Purpose FSA for:

– Post deductible expenses – Eligible expenses not covered by the medical plan – for

example dental and vision

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Limited FSA

You may sign up for the Limited FSA plan being offered. The maximum amount is $2550.00 This amount does not apply to the HDHP deductible or out of pocket maximum. The FSA and HSA are totally separate.

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Defining the HSA

• HSA Contributions:

– Eligible individuals may contribute a maximum of $3,350 for self-only coverage and $6,750 for family coverage 2016

– Additional “Catch up” contribution allowed for age 55+ is $1,000

– Aquinas will be contributing $300 for single coverage,

$600 for double coverage, and $650 for family coverage.

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Defining the HSAHSA Partial Year Contributions:

• You may make full year’s contribution into the HSA, even if you are eligible for only part of the year. If you make a contribution for the full year when you only had partial year HSA-eligibility, you must remain HSA-eligible through the last month of the following calendar year (December 2016) to avoid tax and penalty.

• If you think you may not remain HSA-eligible for the required amount of time, you may choose to make a partial year contribution (maximum contribution divided by 12 months multiplied the number of months eligible) to avoid taxes and penalty.

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How to contribute to your HSA

• Make pre-tax contributions through payroll deductions– Change your payroll contributions at any time

• Make post-tax contributions directly to HealthEquity online or by sending a check

• Fully fund your HSA on day one • Make contributions anytime after your HSA is open

– Can make contributions up until April 15th for the previous tax year

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HSA – “Tax Free Out”

• What can I use my HSA dollars for?

– Any Sec. 213(d) medical, vision, dental, or Rx expenses*, long-term care premiums, COBRA, health care for those drawing unemployment, Medicare premiums (no Medigap), any health insurance if 65+

– Employee, spouse and dependent claims are eligible for reimbursement at any time after HSA is opened

*As of 1/1/2011, only prescribed OTC drugs will be reimbursable with HSA dollars

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What tools can you use?

• “Find a Doctor”• “Approved Drug List”• “Member Center”• “Cost Estimator”• “Virtual MD”

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Vision Coverage

• Vision coverage is outside of the HSA. • Must use participating providers through EyeMed • One eye exam every consecutive 24 months $10

copay• Lenses (two lenses) $15 copay• Frames $40 allowance • Contact Lenses (in lieu of glass lenses and frames)

$65 allowance. Limitations apply.

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Questions?

W h a t i s a n F S A?

Flexible Spending Account (Limited Purpose and Dependent Care)

TOOLs offered by Aquinas allowing employee pre-tax contribution to

reimburse eligible expenses.

- Dental Expenses- Vision Expenses (including Lasik surgery)

- Dependent Care (including licensed day care)

• Effective January 1st, 2016- December 31st, 2016• Employees can set aside pre-tax funds to be reimbursed up to

$2,550 in approved dental and vision expenses.• Employees can set aside pre-tax funds to be reimbursed up to

$5,000 in eligible dependent care expenses.• Must incur expenses during January 1st- December 31st, 2016.• Must submit evidence of expenses prior to March 30th, 2017.

Must Enroll Annually!

2016 Flexible Spending Details

MRA/FLEX Claim Form

Debit Card for POS

Fill out and sign the Reimbursement Claim Form for expenses when debit card is not accepted.

Make sure to keep/include evidence of your qualifying expense.

- Dentist Bill / Receipt- Vision Bill / Receipt- Day Care Bills

Community Mental Health For Central MichiganFSA Reimbursement Claims

1. Visit our website – www.44n.com 2. Click on: Client Portal (top right of the screen)

3. This will route you to the options of accessing the Benefits Portal, Employee Navigator, or Secure Messaging

4. Choose the Benefits Portal option which will lead you to the FSA/HRA Benefit Account Portal.

5. Sign in using your last name & last four digits of your social security number as your username. Your password is your last name along with your birth date.

Example: John Smith SS# 789-45-4321 Birth Date 01/02/70Username: Smith4321 Password: Smith010270 (Please note: logins are case sensitive)

6. Click on the corresponding tabs to view the following:• “Claims” and then “Claims History” / Select which member (dependents) & plan year to view claims• “Status” and then “Benefit Status” / To see election amounts, paid claims & balances• “Profile” / To view/change your profile, dependent information, username & password• “Resources” / To access the Plan Documents, Forms, Letters, & Reports• “Contact Us” / To access 44North email and contact information.

Step by Step Guide

Other resources and information are also available on our website. If you have any questions or would like assistance accessing your account, please call (855) 306-1099.

ONLINE FSA MANAGEMENT

NEXT STEPS

Open Enrollment

• November 9th – 20th, 2015

• Electronic Enrollment Benefits Guide with instructions