2018 Intel retiree 2018 Intel retiree Medical plan Medical plan Changes Changes IRMP Cigna High Deductible Health Plan (HDHP) IRMP Cigna High Deductible Health Plan (HDHP) For Non-Medicare Eligible Intel Retirees The information in this presentation is not intended to take the place of, or change official plan documents in any way. In the event of a discrepancy The information in this presentation is not intended to take the place of, or change official plan documents in any way. In the event of a discrepancy between the information in this presentation and official plan documents, the official plan documents will prevail. Intel reserves the right to modify, change, between the information in this presentation and official plan documents, the official plan documents will prevail. Intel reserves the right to modify, change, or discontinue benefit plans at its sole discretion. or discontinue benefit plans at its sole discretion. Intel Health Benefits Program Office
Presentation Content Annual Enrollment Timeline Non-Medicare Eligible Intel Retiree Health Overview What’s Changing? IRMP Cigna HDHP compared to Coinsurance IRMP Cigna HDHP Prescription Benefit How to look up individual drug costs Health Savings Account Frequently Asked Questions Intel Paid COBRA (ERP) transition options What you need to do Resources Intel Health Benefits Program Office
Intel Retiree Health Benefits ANNUAL Enrollment November 1 through 30, 2017 IMPORTANT NOTICE Benefit elections take effect January 1, 2018 About COBRA Coverage If you’re enrolled in COBRA, and your COBRA coverage ends before the end of 2017, you will need to enroll in a health plan (e.g., IRMP, Marketplace or individual coverage) for the remainder of 2017 to ensure you do not have a lapse in coverage. Take time to review the 2018 Retiree Health Benefits Annual Enrollment Guide to consider your retiree benefit options for next year. For more information, call the Intel Health Benefits Center at 877-GoMyBen (466-9236). Representatives are available Monday through Friday, from 6:00 a.m. to 6:00 p.m. Pacific. Intel Health Benefits Program Office
Intel Retiree Health Benefits If you are a retiring U.S. employee, and have OVERVIEW satisfied the Intel retirement eligibility requirements, Intel offers multiple benefit options for Non-Medicare eligible retirees/dependents, helping you get the coverage you need: Intel Retiree Medical Plan (IRMP) IRMP Vision The Sheltered Employee Retirement Medical Account (SERMA) Intel Health Benefits Program Office
What’s changing? Intel Health Benefits Program Office
NON-MEDICARE ELIGIBLE INTEL RETIREE Typically under age 65 New plan design: The IRMP Cigna High Deductible Health Plan (HDHP) is replacing the IRMP Cigna Coinsurance Plan Same Cigna network, so you can keep your doctors, hospitals, specialists, pharmacies and other healthcare providers you know and trust. When and how you pay for Prescription drugs is changing: Under the IRMP Cigna HDHP, you pay the actual cost (not a copay) for covered prescriptions until you meet your annual deductible. Open a Health Savings Account (HSA)* with HealthEquity and utilize tax-advantaged dollars for qualified health and medical expenses. IMPORTANT: If you’re currently enrolled in the IRMP Cigna Coinsurance option and you make no benefit election changes, the coverage you have today will default to the IRMP Cigna HDHP on January 1, 2018. You’ll receive your new ID Card by last week of December 2017. * HSA is not an Intel-sponsored benefit; eligibility requirements apply, and contribution limits are set by the IRS. Vision Service Plan (VSP) – Vision Plus monthly premiums are increasing Intel Health Benefits Program Office
IRMP Cigna HDHP High Deductible Health Plan Intel Health Benefits Program Office
IRMP HDHP comparedto IRMP Coinsurance NEW PLAN OLD PLAN IRMP Cigna HDHP IRMP Cigna Coinsurance Plan MONTHLY PREMIUM You only $1,088 You only $1,088 $1,495 You only $600 Individual The IRMP Cigna $3,000 You + Child(ren) $1,200 Family ANNUAL $3,755 You + Spouse or Family HDHP DEDUCTIBLE Separate in and out-of-network Combined in and out-of-network is most similar to a deductible deductible Gold Plan COINSURANCE 10% in network; 40% out-of-network 20% in network; 40% out-of-network $2,245 You only $3,000 Individual in the Marketplace. $4,485 You + Child(ren) Individual Marketplace $6,000 Family OUT-OF-POCKET $5,555 You + Spouse or Family Gold plan premiums MAXIMUM Separate in and out-of-network out of Combined in and out-of-network out of range between $1,100 pocket maximum pocket maximum and $1,500 per month $10 copay generic (retail), 20% per individual* Actual cost of the drug while in the PRESCRIPTION coinsurance/$25 minimum preferred * Premiums vary based on home deductible, 10% coinsurance after BENEFIT brand; 40% coinsurance/$40 minimum zip code deductible is met non-preferred brand Intel Health Benefits Program Office
HOW THE IRMP CIGNA HDHP WORKS COST TO YOU IF SERVICES ARE RECEIVED COST TO YOU IF SERVICES ARE RECEIVED EXAMPLES BEFORE AFTER you have met the deductible you have met the deductible $50,000.00 $50,000.00 Hospital submits bill Hospital submits bill are based on $11,951.00 $11,951.00 IRMP Cigna HDHP allowed amount IRMP Cigna HDHP allowed amount the out-of- Your IRMP Cigna HDHP deductible pocket cost for $1,495.00 $0.00 Your IRMP Cigna HDHP deductible (already satisfied) retirees Your coinsurance amount Your coinsurance amount enrolled as $1,045.60 $1,195.10 (10% of allowed amount) (10% of allowed amount) ‘You-only’ and using in- IRMP Cigna HDHP pays IRMP Cigna HDHP pays $9,410.00 $10,755.90 (90% of allowed amount) (90% of allowed amount) network services Your out-of-pocket on IRMP Cigna Your out-of-pocket on IRMP Cigna HDHP $2,541.00 $1,195.10 HDHP ($1,495 deductible plus the ($0 deductible plus the $1,195.10 $1,046 coinsurance) coinsurance) Intel Health Benefits Program Office
Prescription Benefit Intel Health Benefits Program Office
IRMP Cigna HDHP PrescriptionBenefit Prescription benefit is administered by Express Scripts No change in the prescription formulary. NEW PLAN OLD PLAN IRMP CIGNA HDHP IRMP CIGNA COINSURANCE Costco/Walgreens/ Costco/Walgreens/ Example Drug Retail Pharmacy Retail Pharmacy Your Cost ESI Mail ESI Mail (Up to 34-day supply) (Up to 34-day supply) Name and Strength (90-day supp ly) (90-day supply) BEFORE deducible is met $253.82 $761.47 $50.76 $150.00 Humilog 10 ml vial (Brand Formulary) $25.38 $76.14 $50.76 $150.00 AFTER deducible is met $11.44 $30.29 $10.00 $20.00 Atorvastatin 80 mg BEFORE deducible is met (Generic) AFTER deducible is met $1.14 $3.02 $10.00 $20.00 Note: Drug cost pricing is for example purposes only; actual cost may vary. Formulary status of your medications may change based on the market and new product launches (e.g. generic becomes available). To find current formulary status of your medications, go to www.express-scripts.com/inteloe or call Express Scripts at 800-899-2713. Member Services: 800.899.2713 Open Enrollment Website: Member Website: express-scripts.com express-scripts.com/inteloe (follow the link to the IRMP Cigna HDHP Plan option) Intel Health Benefits Program Office
Intel Employees can learn about the following Intel Group Health Plan options for the 2018 plan year here. Intel Health Benefits Program Office
Step 1 Intel Health Benefits Program Office 13
Step 2 Intel Health Benefits Program Office 14
Step 3 Step 4 Intel Health Benefits Program Office 15
Step 5 .” Step 6 Intel Health Benefits Program Office 16
Health Savings Accounts (Hsa s ) Intel Health Benefits Program Office
YOUR HDHP HSA If you enroll in the IRMP Cigna HDHP you’ll be auto-enrolled in a HealthEquity HSA*. *HSA is not an Intel-sponsored benefit; eligibility requirements apply, and contribution limits are set by the IRS. Intel has partnered with HealthEquity for your convenience. You do not have to use HealthEquity for your HSA. For more information go to http://healthequity.com Or see IRS Publication 969 for details on how to use an HSA https://www.irs.gov/pub/irs-pdf/p969.pdf Intel Health Benefits Program Office
How to use an HSA It's important to understand how to use an HSA to maximize your dollars and manage your budget. Advantages of having an HSA 2018 HSA Contribution Limits Tax deductible contributions* Tax-free withdrawals for qualified medical expenses** Individual = $3,450 Interest accrues in the HSA tax-free Family = $6,900 The accounts are “portable,” meaning they stay with Catch Up (age 55+) = $1,000 you even if you change jobs or leave the workforce Penalty free withdrawals for non-qualified medical expenses (once Medicare eligible) *Post Tax contributions may be made. See IRS Publication 969 for details on how to use an HSA: https://www.irs.gov/pub/irs-pdf/p969.pdf **Qualified medical expenses for you and your eligible dependents include copays, coinsurance, deductibles. Intel Health Benefits Program Office
FAQs Get answers to Frequently Asked Questions on the Intel U.S. Retiree Portal at: www.intel.com/employee/retiree Intel Health Benefits Program Office
COBRA Continuation of Health Insurance Coverage Intel Health Benefits Program Office
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