Local 270 Members
Topics for Today ■ Open Enrollment ■ HealthyLiving Process and Resources ■ Other Benefits ■ What’s New – Life Insurance – Long-Term Disability ■ Health Care Benefits – Life Resources EAP – Medical Options – Voluntary Benefits – Prescription Coverage – Health Savings Account (HSA) ■ Questions? – Flexible Spending Accounts (FSA) – Health Care Contribution – Vision Plans – Dental Plans 2 Open Enrollment for 2020 Benefits
Open Enrollment Process and Resources 3 Open Enrollment for 2020 Benefits
General Information ■ Open enrollment is October 14 – October 28, closing at 5 p.m. ■ You MUST TAKE ACTION if you are: – Adding or removing dependents ( must contact HR Service Center to add) – Changing any plan elections – Contributing to an HSA or FSA – Wanting to receive your employer healthcare contribution differently than the default 4 Open Enrollment for 2020 Benefits
The Process Go to MyFirstRewards.com then log onto the Open Date Enrollment tool: Review your current 2019 benefits selections Learn more about your 2020 benefit plan options Oct 7-28 ■ Review your personalized enrollment worksheet for 2020 ■ Review benefit plan rates Make your elections for 2020 benefits Oct 14-28 Review and save your confirmation statement Jan 1 Coverage is effective 5 Open Enrollment for 2020 Benefits
Resources www.MyFirstRewards.com ■ Open Enrollment Presentation – Attend an Employee Meeting – View a Presentation Online – Watch an On-Demand Presentation ■ Compare your Medical Plan Options ■ Compare Drug Coverage and Cost ■ Learn more about the HSA ■ Consider Enrollment in a FSA 6 Open Enrollment for 2020 Benefits
What’s New? 7 Open Enrollment for 2020 Benefits
What’s New for 2020? Medical Deductible ■ Consumer plan deductibles will increase in order to meet IRS requirements Health Savings Account (HSA) and Flexible Spending Account (FSA) ■ Annual maximum contribution limits for HSA and FSA plans will increase Basic Vision ■ Employees will be provided Basic Vision plan coverage, unless Supplemental Vision is elected. The Basic Vision plan has no premium 8 Open Enrollment for 2020 Benefits
Health Care Benefits 9 Open Enrollment for 2020 Benefits
2020 Medical Plan Options (all plans include Rx) Consumer HDHP Local 270 members In-Network* are offered the $2,800 / $5,600 Deductible (Single / Family) Combined Medical/Rx deductible FirstEnergy Type of Deductible Embedded Consumer HDHP in Coinsurance (FirstEnergy / You) 80% / 20% addition to the - After deductible Out-of-Pocket Maximums healthcare plans $5,500 / $11,000 (OOP Max) Combined Medical/Rx OOP Max (includes deductible & coinsurance) offered by the union. Embedded Type of OOP Max Preventive/Wellness Care 100% Elect the Consumer 20% after deductible; Emergency Room Visit $250 copay if not true HDHP through FE’s emergency Open Enrollment. Employee: $0 Employee + Child(ren): $0 Annual Premium Employee + Spouse/DP: $0 Family: $0 Or elect a union- Other sponsored plan Eligible for HSA Yes through the union. Eligible for Health Care FSA No Eligible for Limited FSA Yes (dental/vision only) *Out-of-network plan design can be located at www.MyFirstRewards.com 10 Open Enrollment for 2020 Benefits
Where to Get Care Doctor’s Retail LiveHealth Emergency Room Emergency Room Urgent Care Clinic Online Office $1,636 $1,404 $147 $105 $82 $59 • This information is from the Be A Better Health Care Consumer series which contains helpful tips, tools and resources for health care consumer decisions. • Details can be found at www.MyFirstRewards.com/BetterConsumer 11 Open Enrollment for 2020 Benefits
Prescription Drug Options Consumer HDHP Generic Drug Rule Yes* Retail (up to 30-day supply with one refill) Local 270 members are $2,800 / $5,600 Annual deductible (Individual / Family) Combined Medical/Rx deductible offered the FirstEnergy Coinsurance (FirstEnergy / You) 80% / 20% Consumer HDHP in Generic Coinsurance 20% Primary Coinsurance (if no Generic is available) 20% addition to the Brand Coinsurance** 20% healthcare plans Maximum coinsurance per Rx No maximum Mail Order (up to 90-day supply with three refills) offered by the union. $2,800 / $5,600 Annual deductible (Individual / Family) Combined Medical/Rx deductible Coinsurance (FirstEnergy / You) 80% / 20% Elect the Consumer Generic Coinsurance 20% HDHP through FE’s Primary Coinsurance (if no Generic is available) 20% Brand Coinsurance** 20% Open Enrollment. Elect Maximum coinsurance per Rx No maximum a union-sponsored plan Specialty ( up to 30-day supply – must use Caremark Specialty Pharmacy) $2,800 / $5,600 through the union. Annual deductible (Individual / Family) Combined Medical/Rx deductible Generic Coinsurance 20% Preferred Coinsurance 20% Non-Preferred Coinsurance 20% Maximum coinsurance per Rx No maximum Annual Out-of-Pocket Maximum (OOP Max) $5,500 / $11,00 In-Network (Individual/Family) Combined Medical/Rx OOP Max *In addition to coinsurance, participant will also be responsible for difference in cost between generic & brand drug if the participant does not choose to fill script with available generic. The brand penalty does not count towards the deductible and out-of-pocket maximum. **If you choose a brand that has a formulary equivalent (Primary Drug List), you will pay the brand coinsurance. Out-of-network plan design can be located at www.MyFirstRewards.com 12 Open Enrollment for 2020 Benefits
Medical/Prescription Drug Rates Pre-tax contributions Bi-weekly – Full Time Consumer HDHP Employee $0 Employee + Child(ren) $0 Employee + Spouse/ $0 Domestic Partner Family $0 Rates do not include the $200 monthly spouse premium 13 Open Enrollment for 2020 Benefits
What is an HSA? ■ Health savings account (HSA) – allows you to set aside pre-tax dollars to pay for out-of-pocket health care expenses – Interest-bearing health savings account like a 401(k) for health care-related expenses ■ HSAs are portable – Individual account in your name – take it with you when you leave or retire ■ No “use it or lose it” rule ■ HSA can be used: – For qualified expenses including medical, prescription drug, dental and vision – For you, your spouse or generally any dependent claimed on your tax return – Now or later (great vehicle for future health care) ■ For more information on HSAs, visit: – IRS Publication 502 and 969 – www.healthequity.com/firstenergy 14 Open Enrollment for 2020 Benefits
HSA Enrollment ■ Elect a HDHP medical plan during open enrollment – An HSA will be opened automatically for you upon first-time enrollment ■ You cannot: – Have other medical coverage, such as – A spouse’s health plan (unless the coverage is a HDHP) – Medicare or TRICARE – Health Care FSA (the employee or spouse) – Be claimed as a dependent on someone else’s tax return – Have received veterans’ benefits within the last 3 months NOTE: There are important rules regarding Medicare and HSAs. Contact HealthEquity for guidance. 15 Open Enrollment for 2020 Benefits
HSA Employee Contributions ■ Can be made through pre-tax payroll deductions or post-tax contributions ■ Payroll deductions are divided equally between number of pay periods in year ■ Total annual HSA contribution election is NOT available on Jan 1st ■ Can change your contribution amount at any time 1. Employer and employee contributions count toward the maximum HSA contribution limit. 2. If you are turning 55 or older in 2020, you are permitted to contribute an additional $1,000 Catch-up Contribution. This contribution does not count toward the above limits. 16 Open Enrollment for 2020 Benefits
Flexible Spending Accounts Mandatory enrollment required Health Care Limited Health Care Dependent Care FSA FSA FSA Employees NOT Employees enrolled in a Anyone that has the Who is eligible enrolled in a HDHP HDHP medical plan below expenses medical plan Medical Daycare, before & after Prescription Dental school care for children Eligible expenses Dental Vision under age 13 and Elder Vision care Annual limit $2,700 $2,700 $5,000 Can incur claims Through Dec 31, 2020 Through Dec 31, 2020 Through Mar 15, 2021 Claims submission Mar 31, 2021 Mar 31, 2021 Jun 30, 2021 deadline Eligible to carryover Yes Yes No up to $500 to 2021 ■ You can use FSA funds for you, your spouse and generally any dependent(s) you claim on taxes. ■ View IRS Publication 969 for details. 17 Open Enrollment for 2020 Benefits
FirstEnergy Health Care Contribution HSA, 401(k), or taxable cash payment ■ To help you save now for future retiree health care expenses, FirstEnergy will provide you with a lump sum health care contribution ■ Who is eligible? – Employees actively at work – Regular part-time and full-time employees – Employees on sick leave and/or Extended Disability – Employees who are eligible for benefits on Jan. 1, 2020 Based on medical plan and tier as of Jan 1, 2020 18 Open Enrollment for 2020 Benefits
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