One week left for Open Enrollment
The 2013-14 Open Enrollment is an active enrollment for all benefits-eligible employees and retirees. If you take no action, you will be automatically enrolled into your current medical and dental plan elections.
Employee Services’ benefits specialists are in the midst of conducting Open Enrollment Sessions, which give an overview of plans, detail changes, explain enrollment and answer questions. Upcoming sessions:
- Today, CU-Boulder, UMC Glenn Miller Ballroom
- Friday, CU Anschutz Medical Campus, ED2 South 2206
For a full schedule of times, visit www.cusys.edu/openenrollment/oe-calendar.pdf
Plan spotlight: CU Health Plan – High Deductible
With several CU Health Plans to consider, the High Deductible plan frequently is overlooked because of the higher deductibles it requires. Often, it is misunderstood to be a “Catastrophic” plan. However, this plan has many features that may make it a good fit for you and your family.
The CU Health Plan – High Deductible is an HSA qualified plan and offers a national network of providers. There are no referrals required, and there are both in-network and out-of-network physicians, specialists and hospitals.
Although the deductibles are higher, employees will pay lower monthly premiums for the High Deductible plan. Most preventive services are free, and you pay a discounted rate when you use medical services. The annual deductible is $1,500 for individuals and $3,000 for families.
The out-of-pocket maximum per year is $3,000 for individuals and $6,000 for families, which includes the deductible and co-insurance. Once you have reached the maximum, all covered health care services are 100-percent paid by the plan.
For healthy individuals, this plan can be an excellent option because your monthly premiums are lower and you pay when services are needed. For individuals with a major illness, the plan’s out-of-pocket maximum can help to reduce overall healthcare costs.
Is this plan right for you? The benefits specialists in Employee Services encourage you to examine the pros and cons of each plan by using the Plan Comparison Tool (www.cusys.edu/openenrollment/univ-compare.html) and the Educated Decisions Worksheet (www.cu.edu/pbs/benefits/downloads/Educated-Decisions.pdf) to determine the best plan for you and your family.
What’s new?
- No rate increase: Final rates and plan descriptions are now available. The good news: There will be no increase in premiums this year for CU benefits-eligible employees or retirees.
- Dental coverage unbundled: Starting this year, medical and dental insurance can be elected separately.
- Vision plan added: The CU Health Plan will now offer voluntary vision coverage, which includes routine eye exams, eye glasses and contact lenses. The new plan is only available to active employees (benefits-eligible 50 percent or greater).
- Hearing aids: Adult hearing aid coverage has been added to all plans, except CU Health Plan – Kaiser and CU Health Plan – Medicare, providing for a $3,500 maximum allowance every 60 months.
Reminders
- Set your flexible spending: You must re-enroll and actively elect annual contributions for Health Care and Dependent Care flexible spending accounts each year at open enrollment.
- Choose your doctor: This year, Anthem BlueCross BlueShield will replace Cigna as the university’s Administrative Services Organization. Due to this change, all CU Health Plan members in the Exclusive or Access Network plan are encouraged to select a primary care physician.
- Dependents: Dependents only need to be verified once then they remain in the system every year.
For more information about plans and plan changes, final rates, how to enroll and what happens if you choose to take no action during open enrollment, go to www.cu.edu/openenrollment.
If you have questions, please call Employee Services at 303-860-4200 and select option 3 or call toll free at 855-216-7740.
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