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2008 Annual Enrollment Training Presentation April 2008.

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Presentation on theme: "2008 Annual Enrollment Training Presentation April 2008."— Presentation transcript:

1 2008 Annual Enrollment Training Presentation April 2008

2 2 Agenda Overview of benefits –Whats new and/or changing July 1 What you need to do –Enrollment dates and My Benefits Access Benefits enrollment Questions?

3 Benefits

4 4 Overview of Health Benefits Medical Dental Vision Flexible Spending Accounts Basic Life Insurance Optional Life Insurance Basic Accidental Death and Dismemberment Optional Accidental Death and Dismemberment Short-term Disability (if offered by your sector) Long-term Disability Employee Assistance Program Voluntary Insurance (through the Northrop Grumman Federal Credit Union)

5 5 Whats Changing July 1 Medical –New carrier for Premium and Preferred PPOs Flexible Spending Accounts reduced annual limit of $2,500 for highly compensated employees Cost increases for Premium PPO and Cigna EPP

6 6 Anthem Blue Cross Provider network is the same as the Blue Cross Blue Shield network New medical ID cards issued before July 1, 2008 Access to Anthems care management program, 360 Degree Health

7 7 Flexible Spending Accounts If you earn $100,000 or more in 2008, your annual contribution limit to the Dependent Care FSA will be reduced to $2,500

8 8 Employee costs Changes to how employee contributions are calculated Significant cost increases for Premium PPO and Cigna EPP options

9 9 Lumenos HRA Plan (in-network)

10 10 Employee Employee + Spouse Employee + Child(ren) Family $1,000$1,500 $2,000 $800$1,200 $1,600 90% covered for in-network providers 60% of R&C for out-of-network providers $4,200$6,300 $8,400 Traditional Health Coverage Coinsurance Maximum Health Reimbursement Account (HRA) Bridge Mental Health/Substance Abuse and prescription drug benefits are covered under the plan. Preventive Care 100% Plan Year Amounts Lumenos HRA Plan

11 11 Comparing the Medical Plan Options PPOEPO Lumenos HRA PlanHMO I want to choose a PCP to coordinate all my care and specialist referrals (in most cases) I want to visit any provider I choose, without referrals I want to be able to go out of network, even if its at a higher cost (but still covered) I want Northrop Grumman to help me pay for some of my expenses through a company- funded HRA

12 12 Comparing the Medical Plan Options PPOEPO Lumenos HRA PlanHMO I want 100% coverage for preventive care (after a small copay) I want the lowest paycheck contributions I am worried about health care costs rising, and want a plan that helps me manage that better

13 13 Example: Sharon Average user of health care benefits Family coverage Potential health care services/needs (with assumed actual cost of service): –Three routine preventive care visits ($125 each) –Two specialist visits ($175 each) –20 physical therapy visits for treating sports-related injury ($100 per visit) –Two generic maintenance prescriptions filled monthly ($20 each per month) –One preferred brand prescription ($60)

14 14 Lumenos HRA Plan Preferred PPOPremium PPO Preventive care$0 + 3 $20 copay = $ $15 copay = $45 + Specialist visit 2 $175 per visit = $ $40 copay = $ $30 copay = $60 + Physical therapy 20 $100 per visit = $2,000 5 $100 per visit up to individual annual deductible = $500 + Remaining 15 10% coinsurance per visit = $150 3 $100 per visit up to individual annual deductible = $300 + Remaining 17 10% coinsurance per visit = $170 * This example assumes in-network services only. Example: Sharons Costs

15 15 Lumenos HRA Plan Preferred PPOPremium PPO Prescription drugs 2 generic Rx each month for 12 $20 retail cost = $ preferred brand Rx at $60 retail cost = $60 2 generic Rx each month for 12 $5 copay = $ preferred brand Rx at $20 copay = $20 2 generic Rx each month for 12 $5 copay = $ preferred brand Rx at $20 copay = $20 Total $2,890$930$715 Example: Sharons Costs (cont.)

16 16 Lumenos HRA Plan Preferred PPO Premium PPO Amount covered by Health Reimbursement Account (HRA) funded by Northrop Grumman to help pay for cost of coverage $2,000 (Sharons total HRA at the beginning of the plan year is $2,000) $0 Total out-of-pocket for Sharon after using HRA $890$930$715 Annual paycheck cost$$$$$$ Example: Sharons Costs (cont.)

17 What You Need To Do

18 18 What You Need To Do Review –Current benefits coverage and options with eligible family members –How you use your benefits, and what your needs will be in the coming benefit plan year –Whether you could save money by choosing a different (but still appropriate) option

19 19 What You Need To Do (cont.) Enroll –Use the tools and resources at My Benefits Access to evaluate your options –Make changes to current health benefits coverage during your enrollment period –If You Dont Enroll Continue current coverage for medical, dental, vision, life, disability, and AD&D (as applicable) at new plan year costs Current coverage in following plans will continue unless you make a change: –Health Care and/or Dependent Care FSAs (unless you are impacted by the reduced Dependent Care FSA limit)

20 Benefits Enrollment

21 21 Two Enrollment Periods April 28 May 9 Corporate / Newport News / Integrated Systems / Information Technology /Space Technology May 12 May 23 Mission Systems / Electronic Systems / Ship Systems / Technical Services

22 22 How to Enroll > Online Go to Benefits OnLine at and click on the Enroll With Your Sector button –Select your sector to review general benefits and enrollment information –Log into My Benefits Access First-time visitors will need to set up a user ID and password –Make your elections and print a confirmation statement

23 23 How to Enroll > By Phone No Web Access? –Call the Northrop Grumman Benefits Center (NGBC) at to enroll If hearing impaired, will need to use a relay service through TTY/TDD provider –Available Monday through Friday, 9:00 a.m. to 6:00 p.m. Eastern time

24 Questions?


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