2021 Open Enrollment Employee Benefits - October, 2020 - Drexel University
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Open Enrollment – Important Information Open Enrollment Window: October 23rd to November 15th Plan effective date: January 1st, 2021 Passive Enrollment – Drexel will be holding a PASSIVE Open Enrollment this year, which means you will not be required to re-enroll to maintain coverage Note that employees that do not take action during Open Enrollment will be defaulted to the Keystone Point of Service (POS) Plan The only exception to this is the Health Savings Account (HSA),Flexible Spending Accounts (FSA), and Transit/Commuter Account which are always required to be ACTIVE ENROLLMENTS. If you are currently enrolling in any of these accounts, you are still required to re-enroll for 2021. During Open Enrollment, you are able to make the following changes: Change your plan election (this applies for all benefits, including medical, dental, vision, HSA, FSA, etc.) Change your coverage tier (i.e. Employee, Employee + Spouse, Employee + Child(ren), or Family coverage) Add/remove dependents If you are not currently enrolled and would like to enroll for 2021 If you are currently enrolled in coverage but would like to waive for 2021 The annual medical waiver certification is now electronic. Members looking to waive coverage should complete the certification within the online enrollment system Once you have made your elections, you will not be able to change them until the next Open Enrollment period, unless you experience a qualified life event 2
How to Enroll Step 1: Log In Members can login through DrexelOne by selecting the Employees tab and then the My Drexel Benefits link Step 2: Getting to the Enrollment Once you log in, you will be taken to the Home page where you can click the orange Enroll Now button or the white Enroll Now checkmark icon to begin your enrollment Step 3: Getting Started and Updating Dependents Before you make your benefit changes, you will be required to Answer/Respond to a few simple questions that will determine your eligibility. Add/Review Your Dependents: You will also be able to add new dependents or update dependent information. As you proceed through the enrollment, the coverage levels you are offered are based on the number and type of dependents you elect to cover. Step 4: Making your Choices & Updating Beneficiaries From the Choices section of the enrollment, you will make your benefit elections. Each page will display your plan choices and will prompt you for additional information where needed. All deductions are shown on a per pay basis. Add/Review Beneficiaries: You will also be able to add new beneficiaries, update beneficiary information, and assign beneficiary percentages. Step 5: Enrollment Confirmation The last page/section in the enrollment is your confirmation statement, which you can print or email. The site will automatically save a copy for your future reference. If you need to change any of the plan selections you have made, you can go back into the enrollment and make any additional changes through the end of your enrollment period. 4
Eligibility Overview Drexel University, Drexel University Online, and Academy of Natural Science Full-time and Part-time employees are eligible to participate in the benefits outlined in this presentation Interns, seasonal and occasional employees are not eligible to participate in the Plans You may also elect coverage for your eligible dependents with proof of dependency/marital status. Eligible dependents include: Your legal spouse or domestic partner Dependent children up to age 26. Examples include: • Biological child • Legally adopted children • Stepchild/ Stepchildren • A child living with you for whom you are appointed the legal guardian by court and for whom you are financially responsible 5
What’s New for 2021? Dental Plan New Plan! – DHMO • Drexel is rolling out a Dental Health Maintenance Organization (DHMO) through Cigna with reduced premiums • The DHMO offers comprehensive Dental benefits at a fraction of the cost o No deductible o Low premiums o Strong network but note that there is no out-of-network benefits • Referrals are needed to see specialists with the exception of Orthodontists • The DHMO is a great fit for those who do not incur significant dental expenses Preferred PPO Plan • The Calendar Year Maximum increased from $1,500 to $2,000 • This plan now covers Adult Orthodontia services Introduction of the Cigna Wellness Plus Program • This programs allows members enrolled in either the Base or Preferred plans to increase their Calendar Year Maximum by receiving their annual oral wellness exam • Base Plan: The maximum can go up by $100 each year up to $1,300 • Preferred Plan: The maximum can go up by $100 each year up to $2,300 • Note that the $100 increase will apply to the following plan year (i.e. if you get an exam in 2020, your 2021 Calendar Year Maximum will increase by $100) No rate change for the Base and Preferred PPO options! The Medical/Rx plan offering will not change, however the premium will increase by 1% 7
Medical Provider Network All of the Drexel Medical Plans offer a three tier network strategy Tier 1 Tower Health & University of Pennsylvania Going to a Tier 1 provider will result in the lowest out-of-pocket expenses In-Network This refers to the Independence Blue Cross (IBC) Provider Network excluding Tower Health and University of Pennsylvania • IBC has negotiated competitive rates with these providers and therefore those negotiated rates are passed on to Drexel members Out-of-Network These providers do not have a direct contractual relationship with IBC Going to an Out-of-Network provider will result in the highest out- of-pocket payments for members Out-of-Network providers do not have to accept the payment received and may “balance bill” members • This can result in significant out-of-pocket expenses 9
Medical Plans – Independence Blue Cross Keystone POS Personal Choice PPO – Basic Personal Choice PPO – High CDHP Plan with HSA Out-of- Out-of- Out-of- Out-of- Tier 1 In-Network Tier 1 In-Network Tier 1 In-Network Tier 1 In-Network Network Network Network Network Referral Needed Yes No No No Employer HSA N/A N/A N/A Individual: $500 / Family: $1,000 Contribution BCBS Global Core Included. BCBS Global Core Included. BCBS Global Core Included. International Covers Emergency Medical Care Only For more information please call the For more information please call the For more information please call the Coverage service center at 1-800-2583 service center at 1-800-2583 service center at 1-800-2583 $500 $300 $1,000 $500 $1,500 $2,000 $5,000 Deductible** None None None None None $1,500 $600 $2,000 $1,000 $3,000 $4,000 $10,000 Out-of-Pocket $1,500 $2,000 $3,000 $1,000 $2,000 $3,000 $1,000 $2,000 $3,000 $6,450 $6,450 $10,000 Maximum $3,000 $4,000 $9,000 $2,000 $4,000 $6,000 $2,000 $4,000 $6,000 $12,900 $12,900 $20,000 Preventive Plan Plan Plan Plan pays 70 No Charge No Charge No Charge No Charge No Charge No Charge No Charge No Charge Services pays 70% pays 70% pays 80% %* Plan Plan Plan Plan Plan PCP Office Visit No Charge $20 Copay No Charge $20 Copay No Charge $15 Copay No Charge* pays 70% pays 70% pays 80% pays 80%* pays 50%* Specialist Office Plan Plan Plan Plan Plan $10 Copay $40 Copay $10 Copay $30 Copay $10 Copay $25 Copay No Charge* Visit pays 70% pays 70% pays 80% pays 80%* pays 50%* Diagnostic Plan Plan Plan Plan Plan Plan No Charge $80 Copay No Charge No Charge No Charge No Charge* X-Ray/Imaging pays 70% pays 90% pays 70% pays 80% pays 80%* pays 50%* Plan Plan Plan Plan Plan Plan Inpatient Hospital No Charge No Charge No Charge No Charge No Charge No Charge* pays 70% pays 90% pays 70% pays 80% pays 80%* pays 50%* Outpatient Plan Plan Plan Plan Plan Plan No Charge $50 Copay No Charge No Charge No Charge No Charge* Surgery pays 70% pays 90% pays 70% pays 80% pays 80%* pays 50%* Covered at Covered at Covered at Plan Plan Emergency Room $100 Copay $100 Copay $100 Copay $100 Copay $100 Copay $100 Copay No Charge* INN Level INN Level INN Level pays 80%* pays 50%* Urgent Care Plan Plan Plan Plan Plan No Charge $35 Copay No Charge $35 Copay No Charge $35 Copay No Charge* Center pays 70% pays 70% pays 80% pays 80%* pays 50%* *After deductible 10
Telemedicine – MD Live MD Live is a national network of U.S. board-certified doctors available 24/7/365 to diagnose, treat, and prescribe medication Contact MD Live for non-emergency medical conditions such as: Allergies Asthma Acne Pink eye Ear infections Sinus issues Respiratory infections Urinary tract infections Cold and flu symptoms MD Live is available at no cost to members enrolled in the Keystone POS, or either of the Personal Choice PPO plans For those enrolled in the CDHP, there will be a $40 copay per consultation This is an IRS mandate and necessary so that the plan can maintain it’s qualified plan status Contact MD Live at 1.877.764.6605, or visit MDLive.com/ibx 11
Prescription Drug Plans – OptumRx Mail Order Program Using the mail order program for maintenance medications will save you money You can receive up to a 90 day supply (3 months) for the cost of two retail copays Members in the HSA plan must satisfy the deductible before prescription drug copays apply Retail Prescription Mail Order Prescription (up to a 30-day supply) (up to a 90-day supply IN-Network IN-Network Generic $10 copay $20 copay Preferred Brand $30 copay $60 copay Non-Preferred Brand $50 copay $100 copay 12
Rx Cost Savings Tips Research the best cost for you Promotions at retail chains with pharmacies (like Shoprite, Target and Walmart) can save you money when you fill your generic prescription Ask your pharmacist for the full cost of the medication you are receiving This will help you understand the benefit the prescription plan is providing, and help you consider lower cost alternatives Use the Mail-Order Program If you have a maintenance medication filled through the mail-order service, you get one month of prescriptions for free • Receiving a 90 day supply of your medication will only cost 2 retail copays The convenience of your medications being delivered directly to your home GoodRx Shop for lower cost pharmacies using https://connerstrong.goodrx.com or download GoodRx in the app store GoodRx allows you search for your prescription drug in your zip code to determine which pharmacy has the drug at the best price 13
Monthly Employee Contributions: Medical and Prescription Drug Full-time POS PPO Basic PPO High CDHP Employee $116.10 $258.83 $422.52 $41.03 Employee & Child $262.82 $786.92 $1,055.47 $122.19 Employee & Children $359.28 $1,208.23 $1,506.57 $188.84 Employee & Spouse $386.86 $1,222.32 $1,586.27 $180.83 Employee & Family $522.37 $1,566.26 $2,107.14 $250.97 Part-time POS PPO Basic PPO High CDHP Employee $174.15 $388.24 $633.77 $61.54 Employee & Child $394.23 $1,108.38 $1,527.86 $183.30 Employee & Children $538.92 $1,762.46 $2,007.23 $283.27 Employee & Spouse $580.30 $1,833.48 $2,286.03 $271.25 Employee & Family $783.56 $2,349.39 $3,040.26 $376.46 14
Bi-weekly Employee Contributions: Medical and Prescription Drug Full-time POS PPO Basic PPO High CDHP Employee $53.58 $119.46 $195.01 $18.94 Employee & Child $121.30 $363.19 $487.13 $56.40 Employee & Children $165.82 $557.65 $695.35 $87.16 Employee & Spouse $178.55 $564.15 $732.13 $83.46 Employee & Family $241.09 $722.89 $972.53 $115.83 Part-time POS PPO Basic PPO High CDHP Employee $80.38 $179.19 $292.51 $28.40 Employee & Child $181.95 $544.79 $705.17 $84.60 Employee & Children $248.73 $813.44 $926.42 $130.74 Employee & Spouse $267.83 $846.22 $1,055.09 $125.19 Employee & Family $361.64 $1,084.33 $1,403.20 $173.75 15
IV. 2021 Dental and Vision Plans
Dental Plans – Cigna PPO and New DHMO DPPO Base Plan DPPO Preferred Plan New for 2021! Dental HMO - K1-09 In-Network* Out-of-network* In-Network* Out-of-network* In-Network* Out-of-network* Class I – Diagnostic & 100% 100% 100% 100% No charge No coverage Preventive No deductible No deductible No deductible No deductible Class II – Basic 50% after deductible 50% after deductible 90% after deductible 80% after deductible Flat co-pay amounts. No coverage restorative See Schedule of Benefits posted on Benefits Express. Class III – Major 50% after deductible 50% after deductible 60% after deductible 50% after deductible Flat co-pay amounts. No coverage restorative See Schedule of Benefits posted on Benefits Express. Class IV - Orthodontia N/A N/A 50% No deductible 50% No deductible Flat co-pay amounts. No coverage See Schedule of Benefits posted on Benefits Express. Class IX – Implants 50% after deductible 50% after deductible 60% after deductible 50% after deductible Flat co-pay amounts. No coverage See Schedule of Benefits posted on Benefits Express. Annual deductible $50/$150 $50/$150 $50/$150 $50/$150 None No coverage (Individual/Family) Calendar-year Year 1: $1,000 Year 1: $2,000 None No coverage maximum Year 2: $1,100 Year 2: $2,100 Year 3: $1,200 Year 3: $2,200 Year 4: $1,300 Year 4: $2,300 17
New Dental Plan – Cigna DHMO K1-09 Procedures listed on the Patient Charge Schedule are subject to the plan limitations and exclusions described in your plan book/certificate of coverage The DHMO is available at a fraction of the cost compared to the Basic and Preferred PPO options No deductible or calendar year maximums, and predictable costs based on your patient charge schedule The DHMO requires referrals to see specialists, unlike the PPO DHMO enrollees must go to an In-network provider as the plan does not offer any out-of- network coverage Below is a sample of the Patient Charge Schedule See the Patient Charge Schedule for a full list of all services, see the Benefit Express enrollment site In-Network Patient Charge Office visit $0.00 Comprehensive Periodontal Evaluation $33.00 X-ray (bitewing) $0.00 Fluoride application $15.00 Crown $410.00 - $460.00 Space Maintainer $170.00 Inlay $410.00 Onlay $470.00 Implant $750.00 - $790.00 18
Monthly Employee Contributions: Dental Full-Time PPO Base PPO Preferred New Plan! DHMO Employee $9.82 $14.58 $5.22 Employee + 1 or more $29.05 $47.68 $13.17 Dependents Part-Time PPO Base PPO Preferred New Plan! DHMO Employee $14.73 $21.87 $5.22 Employee + 1 or more $43.58 $71.52 $13.17 Dependents 19
Bi-weekly Employee Contributions: Dental Full-Time PPO Base PPO Preferred New Plan! DHMO Employee $4.53 $6.73 $2.41 Employee + 1 or more $13.41 $22.01 $6.08 Dependents Part-Time PPO Base PPO Preferred New Plan! DHMO Employee $6.80 $10.09 $3.61 Employee + 1 or more $20.11 $33.01 $9.10 Dependents 20
Find a Dental Provider • If you have a MyCigna.com account: – Log in to MyCigna.com to search for DHMO or PPO providers • For those who do not yet have an account – Visit Cigna.com – To search for a dentist on cigna.com, visit the site a nd click “Find a Doctor, Dentist or Facility.” – Follow the prompts on the screen and when asked to choose your plan, select Cigna Dental Care DH MO if interested in the DHMO, or Total Cigna DP PO if interested in the Base or Preferred PPO optio ns – Review the lists given by specialty. Or narrow your search by typing in provider name, specialty or offic e name – Once you get your search results, you can further r efine your search by: – Distance, Years in practice, Specialty, Additional languages 21
Vision Plan – Davis Vision In-Network Out-of-Network Exam No Charge $40 Reimbursement Davis Collection Fashion: No charge Davis Collection Designer: $15 Davis Collection: Premier: $40 Frames Non-Davis Collection: $50 Reimbursement Non-Davis Collection: Up to $130 allowance (20% discount off overage) Visionworks frames: Up to $150 allowance (20% discount off overage) Lenses Single $40 Reimbursement Bifocal $50 Reimbursement No Charge Trifocal $80 Reimbursement Lenticular $100 Reimbursement Davis Collection: No Charge Non-Davis Collection: Contacts: Contact Lenses Up to $130 allowance $80 Reimbursement Evaluation: Up to $60 allowance (plus 15% discount off overage) Frequency Once per calendar year Once per calendar year To locate participating providers or request a claim form, visit Davis Vision at www.davisvision.com or call 1.800.999.5431 22
Monthly Employee Contributions: Vision Full-Time Vision Plan Employee $2.17 Employee + 1 or more dependent $4.99 Part-Time Vision Plan Employee $3.25 Employee + 1 or more dependent $7.49 23
Bi-weekly Employee Contributions: Vision Full-Time Vision Plan Employee $1.00 Employee + 1 or more dependent $2.30 Part-Time Vision Plan Employee $1.50 Employee + 1 or more dependent $3.46 24
V. 2021 Life and Disability Plans
Life, Accident, and Disability – Lincoln Financial Group Drexel University provides full-time benefit eligible employees with the below Life and Disability coverages Basic Term Life and Accidental Death &Dismemberment Insurance 2 times Basic Annual Earnings to a maximum of $500,000 Employees have the option to cap their Basic Term Life Insurance to $50,000 to avoid imputing income Long Term Disability (LTD) Insurance The Drexel LTD plan will provide 60% of your pre-disability income up to a monthly maximum of $20,000 To qualify for LTD, you must be unable to complete the tasks of your normal occupation for at least 90 days LTD will terminate when you are able to return to work, or at your Social Security Normal Retirement Age (SSNRA) whichever is first. Employees do not need to take action to be enrolled in these coverages Open Enrollment is however a good time to review your plan offering and update beneficiaries 26
Life, Accident, and Disability – Lincoln Financial Group Drexel provides the following programs on a voluntary basis to all benefit eligible employees Supplemental Life Insurance Employees can purchase up to 4x their annual salary to a maximum of $2,500,000 Spouses can elect up to $150,000 in increments of $10,000 Children (aged 15 days to age 26) can elect up either $5,000 or $10,000 • Your specific deduction can be found in the enrollment system Rates vary by employee, depending on salary and age Short Term Disability Standard Plan • The STD Standard Plan covers 60% of weekly earnings up to a maximum of $2,700 per week • Employees must be unable to work for 30 calendar days before the benefit begins – this is referred to as the elimination period • The plan duration is 90 days (those that continue to be disabled would transition to LTD at that time) o The 90 day duration includes the 30 day elimination period Enhanced Plan • The Enhanced Plan offers the same benefit as the Standard Plan, however the elimination period is reduced from 30 days to 14 days o This reduces the amount of PTO time that is needed before the benefit begins STD plans must be purchased as a new hire or during open enrollment and cannot be elected from a mid-year Qualifying Life Event 27
Optional Life Insurance – Evidence of Insurability Evidence Of Insurability (EOI) EOI is a short questionnaire that enrollees need to complete to prove they are in good health and to have their life insurance approved You and your spouse may need to submit EOI this year if you are enrolling in the Optional Life program for the first time or increasing coverage Please see below EOI rules Employee: • Any election over $1,000,000 will require EOI • Any increases of more than one level above the current benefit level will be subject to Evidence of Insurability o i.e. if an employee is currently enrolled in Optional Life Insurance for 1x annual salary and they choose to elect 2x annual salary – this would not require Evidence of Insurability o However, if this 1 additional level increase puts the employee over $1,000,000, then Evidence of Insurability would be required o If this employee chose to elect 3x salary, then this would require Evidence of Insurability • Any increases elected during Annual Enrollment will be subject to Evidence of Insurability if an Employee has previously been denied coverage Spouse/Domestic Partner • Any election will be subject to Evidence of Insurability • Any first time election or increase elected during Annual Enrollment will be subject to Evidence of Insurability if an Employee has previously been denied coverage The Benefit Express online portal will trigger if EOI is needed based on your election 28
Employee Assistance Program – Lincoln Financial Group Employees and their dependents have access to the Employee Assistance Program, or EAP through Lincoln Financial Group This program is offered by the University at no charge and members do not have to sign up during Open Enrollment This program will be available as needed throughout the year The program offers unlimited, 24/7 access to licensed professional counselors to help with personal, family and work/life issues You can access the following services anytime online or with a toll-free call: Information, resources, counselling and referrals on family matters, such as: • child and elder care • kennels and pet care • Event and vacation planning • Moving and relocation • Care buying • College planning Legal referrals for expertise in family law, estate planning, landlord/tenant relations, consumer and civil law Financial guidance, including household budgeting, and short and long term planning In-person assistance with short-term issues (Up to 5 in-person sessions per person, per issue, per year) Visit www.GuidanceResources.com or call 888.628.4824 Username: LFGsupport Password: LFGsupport1 29
Whole Life – Mass Mutual In addition to the Term Life option available through Lincoln Financial Group, Drexel University also offers Voluntary Whole Life Insurance through Mass Mutual Benefit Amounts: Minimum: $10,000 Maximum: $250,000 Non-Medical Maximum: $100,000 • This means that elections over $100,000 will require EOI Rates are available in the enrollment portal In addition to a Death Benefit, Whole Life also offers Level Premiums and Cash-Value accumulation Level Premium: Premiums will never increase • Premium is set based on your age at the time of purchase Cash-Value Accumulation: A portion of the premiums are set aside and invested • Tax-deferred cash value that is built within the certificate that will never decline in value due to changes in market conditions • Expected growth rate: 4% Mass Mutual pays out a dividend (beginning on the second anniversary) that can be used in multiple ways: • Used to purchase additional coverage • Cash payout • Accumulate over time • Expected dividend: 4% (not guaranteed) Whole Life through Mass Mutual is portable – meaning you can take the policy with you if you ever leave the University To drop coverage, call the Mass Mutual Service Center at 844.975.7522 30
Corestream Voluntary Benefits The below products are available on Corestream on a voluntary basis Employees can elect these benefits through the enrollment portal The portal also includes Shopping Discounts on a wide variety of products Product Vendor When Can you elect Critical illness w/ Allstate Open Enrollment Only Cancer benefit Accident Allstate Open Enrollment Only Legal Hyatt/MetLaw Open Enrollment Only ID Theft Protection Lifelock Any time during the year Auto & Home Liberty Mutual Any time during the year Personal Loan Program Kashable Any time during the year Pet Health Nationwide Any time during the year Long Term Care Genworth Any time during the year Payroll Purchasing Purchasing Power Any time during the year Program 31
VI. 2021 Spending Accounts
Health Savings Accounts – Benefits Express Limits - the 2021 IRS maximum contribution that can be made to your HSA on a pre-tax basis is $3,600 for individuals and $7,200 for families Participants age 55 or over can contribute an additional $1,000 The Health Savings Account is only available to members in the Consumer Directed Health Plan This is a personal bank account administered through Optum Bank When electing to open the account on the Benefit Express enrollment site, enrollees must complete the certification process to open the account HSA enrollees need to re-enroll in the HSA every year Enrollees can change their contribution throughout the year Drexel makes an annual HSA contribution of $500 for individual accounts and $1,000 for those covering at least one dependent This is prorated for those that enter the plan mid-year Triple tax benefits - contributions are pre-tax, interest is tax-free, and you can make tax-free withdrawals for qualified medical expenses Convenient - the HSA program issues a debit card to pay for prescription medications, doctor fees, etc. at the point of sale Rollover - if you have money left in your HSA at the end of the year, it will automatically rollover to the following year Retirement - HSAs act as a vehicle to save for medical expenses in retirement 33
Flexible Spending Accounts – Benefits Express Healthcare FSA A Flexible Spending Account (FSA) allows you to set aside money, on a pre-tax basis, for eligible out-of-pocket medical, dental, vision and dependent care expenses FSA enrollees need to re-enroll in the FSA every year • Unlike the HSA, FSA participants cannot change their election throughout the year There is a "use it or lose it" provision set by the IRS – you may only carry up to $550 in to the 2021 plan year The 2021 annual maximum contribution to the Healthcare FSA is $2,750 You can use the FSA to pay for deductibles, copays, coinsurance & other eligible expenses not covered by the medical, dental or vision plans Employees who elect the CDHP with HSA cannot participate in the Health Care FSA, however you can choose to participate in the Limited Purpose FSA • A Limited Purpose FSA allows you to use pay for Dental and Vision expenses only Dependent Care FSA The annual maximum contribution to the Dependent FSA is $5,000 per year ($2,500 if married filing separately) A dependent care FSA is used to reimburse eligible expenses related to the care of your dependents (both children and adults) All unused funds at the end of the year are forfeited – there is no carryover provision Qualified expenses include before/after school programs, nursery, day care (child and adult), preschool, camp, etc. Note that if you leave Drexel during the 2021 plan year, the remaining FSA 34 elections will be forfeited
Commuter and Transit – Benefits Express Commuter and Transit Employees with daily commutes involving mass transit and/or parking expenses can participate in the Transit and Parking Accounts As of 2021, employees may contribute: Up to $270 per month for transportation (mass transit, train, subway, bus fares) and Up to $270 per month for parking expenses incurred at or near your work location or near a location from which you commute using mass transit Commuter/Transit enrollees need to re-enroll in the plan every year Employees cannot transition funds between the Transit account and Parking account – they are separate Any account balance at the end of the plan year will remain in your account and will be available for your use in the next plan year Unused balances will be forfeited when your employment with 35 Drexel ends
VII. Additional Programs
Health Advocate Health Advocate (HA) helps employees navigate a complicated healthcare system This service is available to you at no cost HA has experiences Personal Health Advocates that can assist with your healthcare challenges Billing issues Claim issues Finding a provider General benefits questions Additionally, members have access to a personal Wellness Coach for support and motivation! 37
Healthier U Drexel University offers a wide range of health-related offerings to encourage employees to be active! Employee Olympics Weekly Walking Club The program has a focus on both Physical, Financial, and Emotional Health and Wellness Additionally, there are 30-60 wellness onsite/online workshops per year with varying topics: Empowered Posture Sustainable Spending Cultivating Self-Compassion Note that employees are eligible to get $400/year in incentives, and spouses are eligible for an additional $250/year To learn more, visit https://Drexel.edu/hr/benefits/a-healthier-u 38
Tuition Remission and Tuition Exchange Tuition remission Provided to full-time Drexel University, Drexel University Online (DUO) and Academy of Natural Sciences (ANS) employees This program provides assistance to qualified spouses, domestic partners and dependent children of eligible full-time faculty and professional staff for undergraduate credit and non-credit courses taken at Drexel University For more information, visit https://Drexel.edu/hr/benefits/tuition/remission Tuition Exchange This program is a scholarship exchange program for eligible dependent children of faculty and professional staff at Drexel, DUO and ANS Drexel will award up to 20 scholarships to dependents of full-time employees who wish to attend other institutions For more information, visit https//Drexel.edu/hr/benefits/tuition/exchange 39
HomeOwners Benefits The Home Purchase Assistance Program encourages and supports home ownership within defined borders of the Drexel University City Campus community The program offers a forgivable loan to benefit eligible full and part-time Drexel University faculty and professional staff This loan can go towards the purchase of a home or renovation of homes within a defined area The area spans from 31st street to 48th street (east-west) and from Girard Avenue to Chestnut Street (north-south) For more information, visit https//Drexel.edu/hr/benefits/other-benefits/home- purchase/A 40
403(b) Plan The 403(b) Defined Contribution Retirement Plan is offered to full-time and part-time employees All employees are eligible to defer pre and post-tax dollars out of their pay into the plan except for student employees and co- op positions How to enroll: Log in to DrexelOne Select the Employee Tab Select 403(b) Plan Management Note that contribution changes can be made to the retirement plan on a pay to pay basis Drexel works with Fidelity Investments, TIAA and Vanguard Group Please visit the 403(b) webpage for information on contacting the vendor and scheduling an individual consultation 41
VIII. Benefit Resources
Important Contacts Each of Drexel’s carriers have customer service representatives available to help answer your benefits related questions Plan Carrier/Vendor Phone Number Website Manage Benefits / FSA / HSA / Email: Benefits Express 1.844.690.3992 help@mybenefitsexpress.com Commuter Benefit Medical Independence Blue Cross 1.800.ASK.BLUE Ibx.com Prescription Drug OptumRx 1.855.796.3480 Optumrx.com Dental Cigna 1.800.CIGNA24 www.mycigna.com Vision Davis Vision 1.800.999.5431 www.davisvision.com Life: 1.888.786.2688 Life and Disability Lincoln Financial Group www.LFG.com Disability: 1.888.786.2688 Whole Life Mass Mutual 1.844.975.7522 www.massmutual.com Voluntary Benefits CoreStream 1.888.935.9595 Drexelvoluntarybenefits.com Wellness / General questions / Claims questions / Health Advocate 1.866.695.8622 Members.healthadvocate.com Find a provider assistance Health Savings Account Optum Bank 1.866.234.8913 Optumbank.com 43
Important Dates Drexel will also have detailed sessions on each of the below topics These sessions will be recorded and posted on the Drexel Open Enrollment website as well as the online benefits enrollment portal Event registration was on the OE Announcement email and posted on the HR events calendar: https://Drexel.edu/hr/about/calendar-events/ Topic Date/Time Consumer Directed Health Plan and 10/27/20 at 12PM Health Savings Accounts Mass Mutual Whole Life 10/28/20 at 12PM Cigna Dental 10/29/20 at 12PM 44
Disclaimer Conner Strong & Buckelew (CSB) is providing the work product herein in order to assist in the evaluation and analysis of your group benefit plan(s). The work product reflected herein and contained in any exhibits or attachments is based upon data and information supplied by your contracted administrators, carriers, insurers and other vendors engaged in the administration of your plans. In some instances, the data and information may have been supplied by you. As such, CSB cannot warrant the accuracy of said data and information received and used by us in order to produce this analysis. We have evaluated said data and information to the best of our capability and rely upon the representations of your contracted administrators, carriers, insurers and other vendors as to the accuracy of the data and information they have supplied. It is important to note that while our consultants are very familiar with the design, administration and operation of employee benefit plans and the law applicable to those activities, Conner Strong & Buckelew is not a law firm. Therefore, our recommendations should not be construed as, nor are they intended to be, legal advice. You may wish to consult with legal counsel about the issues addressed. The information contained herein is not intended by Conner Strong & Buckelew to be used, and it cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code that may be imposed on the taxpayer. The information contained herein and in any exhibits or attachments is confidential and may not be shared, reproduced or disclosed to any third parties without the express written consent of CSB.
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