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THE PRINCIPIA ANNUAL ENROLLMENT2020
What we’ll cover:
▪ Your benefit options for 2020
➢ New health plan (UnitedHealthcare)
➢ Lower employee contributions for the base medical plan
➢ No change to dental plan
➢ No change to vision plan
➢ No change to life and disability plans
▪ Next Steps:
Enrolling can be completed quickly using the
Online Annual Enrollment process through ADP
Will my benefits automatically
continue if I don’t log into the ADP
portal during Annual Enrollment?
What is included? What is available to me?
• Low cost Health Insurance (new health plan)
• Vacation, Health and Personal Leave
• Social Security
• Worker’s Comp Insurance
• Unemployment Insurance
• Retirement savings—generous match! Up to 7.5% of your pay period
earnings
• Life insurance and Income Protection plans—Principia pays half the monthly
premium
• Dental & Vision – premiums are paid before taxes are calculated
• EAP through Standard Insurance
Benefit Highlights 2020
Dental Insurance – The Standard Insurance Company
• Rates unchanged for 2020
– Low and High PPO options
– Nationwide Dental Network
Vision Insurance -- EyeMed
• Rates unchanged for 2020
– Insight Network
Benefit Highlights 2020Basic Life Insurance and Income Security – The Standard
Insurance Company
-All benefit eligible employees are eligible
• Group Life and AD&D Insurance
– two times annual salary
– $2,000 coverage for non-employee spouse
– $2,000 for each child from birth to age 26
• Group Short-term Disability Plan - 60% of gross salary up to
$1,000/week for up to 90 days after a waiting period of 14 days.
• Group Long-term Disability Plan - 60% of gross salary from 91
days to Social Security normal retirement age (“SSNRA”).
Benefit Highlights 2020
Voluntary Term Life Insurance – The Standard Insurance Company
Employees
• Voluntary Life coverage limited to 5 times your annual salary not-to-exceed $500,000
• Rates based on age range
• Policy can be converted to individual policy upon termination of employment
Spouse
• Voluntary Life coverage limited to $250,000 or 50% of the employee coverage in $5,000 increments
Children
• Voluntary Life coverage $5,000 per child up to age 25 with employee coverage
• Employee must elect at least $10,000 of additional life insurance for child coverage
Benefit Highlights 2020
• Voluntary Term Life Insurance with The Standard Insurance Company
– Employee
• Elect within 30 days of becoming eligible by completing the
Evidence of Insurability (“EOI”) form only for coverage over
$130,000. Later enrollments will require EOI regardless of amount.
– Spouse
• Elect by completing the EOI.
FLEX Accounts
• Flex Spending: Renewal or participation is not
automatic! This must be re-elected annually.
• For the 2020 plan year, the Principia Dependent Care
maximum contribution is $5,000 and the Health Care
maximum contribution is $2,700.
• What is Flex Spending and how does it work?
FLEX AccountsPay for health care expenses and dependent care/childcare expenses with pre-tax dollars
Principia annual election maximum: $2,700 for Health Care Expenses
$5,000 for Dependent Care Expenses
• Spend
2020 Health Care Elections by March 15, 2021
2020 Dependent Care Elections by December 31, 2020
• Submit
2020 Health Care Expense Claims by May 15, 2021
2020 Dependent Care Claims by March 15, 2021
FSAs can be used for expenses such as:✓ Covered Prescription Co-pays
✓ Christian Science Practitioner and Nursing Services
✓ Doctor and Emergency Room Co-pays
✓ Orthodontics
✓ Health plan Deductibles and Coinsurance
✓ Lasik Surgery
✓ Out-of-pocket Dentist or other provider fees
✓ Eyeglasses
✓ Chiropractic and acupuncture
■ Dependent Care ■ Latch Key ■ Adult Day Care
Dental Plan
Vision Plan
Vision Plan (where to shop for frames)
Employee Assistance Program (EAP) Service offered through Standard Insurance
Benefits are provided at no cost, including face-to-face visits
UnitedHealthcare Medical Plans
UnitedHealthcare Medical Plans: Comparison 1
UnitedHealthcare Medical Plans: Comparison 2
2020 Medical Payroll Deductions
Employee OnlyEmployee + 1Family
Annual Out of Pocket
IndividualFamily
Annual EE Contribution
Individual EE + 1Family
Base Plan
Monthly
$ 51.68
$516.86
$872.88
$3,425
$6,850
Includes Rx Copays
$ 620.16
$ 6,202.32
$10,474.56
PPO Buy-up Plan
Includes HRA
Monthly
$ 182.44
$ 904.20
$1,346.28
(Before HRA payment)
$3,000
$6,000
Includes Rx Copays
$ 2,189.23
$10,850.36
$16,155.42
• ADP Portal Opens: Monday, November 4
• ADP Portal Closes: Wednesday, November 20
at 10:59 pm
Login to: https://workforcenow.adp.com
User ID: first initial of first name last
name@ThePrinci
Contact Marcella Lehr [Elsah] or June Brill [St. Louis] with any questions
Carrier Resources
• Medical link – www.UHC.com
• Dental link – www.standard.com/dental
• Vision link – www.EyeMed.com
• Flex Spending – www.myFlexonline.com
Log on and Register to obtain:
– Benefit Information
– Claim Information and Status
– ID card Copies
– In-Network providers and locations
Activate your UHC account
Contact Information
Mike Bisaro, Investment Advisor – Retirement questions
StraightLine
866-401-5238
Keith McNeil, Broker – Group Insurance
Arrow Benefits Group
707-992-3782
