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Benefits & Wellness
G R AND VAL L E Y S T AT E UN I VE R S I T Y
HUMANRESOURCES
GVSU STRATEGIC PLAN: A vision for student, staff, and faculty well-being
• Strategic Priority 3: Ensure the alignment of institutional structures and functions.
• Institutional outcome E: • Objective 3.E.3: GVSU has a well-
established reputation for the wellness of students, faculty, and staff at all levels, for example, earning and/or maintaining recognition as one of America’s Healthiest Employers.
BENEFITS OPEN ENROLLMENT2020
BENEFITS OPEN ENROLMENT2020
WHAT’S NEW FOR 2020
GVSU Standard PPO Plan • No plan benefit changes
• Slight Increase in Faculty/Staff per pay period premium contributions
GVSU High Deductible PPO Plan• No plan benefit changes
• No per pay period premium contributions
WHAT’S NEW FOR 2020
CVS pharmacy drug formulary changes• CVS makes ongoing changes that are communicated to you and
your provider
Delta Dental• There is a slight increase in faculty/staff contributions
WHAT’S NEW FOR 2020
EyeMed Vision• No change in current rates
• Rates guaranteed through 12/31/2020
• Be sure and compare it to the no cost PriorityVision option
Flexible Spending Account Limit• PPACA (Healthcare Reform) limits the maximum annual
amount for health related expenses is $2,500
• No change to dependent care limit of $5,000
WHAT’S NEW FOR 2020
Lincoln Financial – Base Life • Increase the life benefit from 1 times to 1.5 times salary
• Increase is at no cost to faculty/staff
• Increase the maximum benefit from $250K to $350K
• Increase is at no cost to faculty/staff
Lincoln Financial – Voluntary Supplemental Life Benefit • Increase the maximum benefit from $500K to $750K
• Increase the guaranteed issue amount from $250K to $300K
PAYROLL DEDUCTIONS 2020
WHAT’S NEW FOR 2021
Looking ahead to 2021 - we do not anticipate making any changes to plan design.
YOUR HEALTH SAVINGS ACCOUNT
If you are enrolled in the GVSU High Deductible PPO Plan you must make a new HSA deposit election for 2020 using the eBenefits open enrollment system
• Consider saving a little extra! - Triple tax benefit - No use it or lose it
2020 annual HSA contribution limits• $3,550 for single - $7,100 for a family• plus an additional $1,000 catch-up for those age 55 and older
United Bank – now has mutual fund investment options for your HSA
Thrive @ GVSU is a voluntary, confidential and free three month wellness coaching program available to all medical benefit eligible faculty, staff, spouses and household members. Participants in the Thrive @ GVSU program partner with a coach telephonically and through the new Wellbeing Hub via the Priority Health website.
THRIVE @ GVSU allows for more easily accessible entry into working with a coach and also allows for additional ease of access to the online portal through Priority Health’s new online vendor.
The program still provides rewards for participation, mailed directly to your home which are administered through Priority Health.
THRIVE @ GVSU opens up the opportunity for everyone to engage by opting in during open enrollment-no matter one’s “risk factors” and is open to all medical benefit eligible faculty/staff and members in the household member program. Dependents are not eligible.
Enroll During Open Enrollment 2020 by opting in on the wellness tab. A coach will call faculty and staff who opted in before the end of 2019 to begin the program.
Maximum rewards for the program are $100 to complete one round of coaching.
Participants may complete multiple rounds of coaching Oct 1-Sept 30 at no cost but are only rewarded with a gift card for the first round of coaching.
EMOTIONAL AND FINANCIAL WELLNESS
OTHER THINGS YOU NEED TO KNOW
Eligible Dependents
Legally married spouse
Household member
Each dependent child
Medical Plans – up to the last day of the month of 26th
birthday or; full-time student through age 27
Dental Plan - up to the last day of the month of 26th birthday or; full-time student through age 27
OTHER THINGS YOU NEED TO KNOW
Life Events - 30 Day Notification Period• Change in marital status
• Birth or adoption
• Change in place of residence or work
• Change in Household Member status
• Change in status of dependent
• Death of dependent
• Refer to https://ww.gvsu.edu/hro/benefitswellness/life-event-changes-111.htm for details
OTHER THINGS YOU NEED TO KNOW
OTHER THINGS YOU NEED TO KNOW
Medical Plan Benefit Coverage • Spine Centers of Excellence SCOE for spine and back
surgery
• Must visit with a SCOE physician before seeking surgical treatment
• Automobile Insurance and our medical plans• The GVSU Standard PPO and GVSU High Deductible
PPO Plans do not pay for illness or injuries received in an automobile accident in Michigan or any other state with no-fault insurance.
NO-FAULT AUTO INSURANCE REFORM
• The GVSU health plans will continue to exclude coverage for claims related to an automobile accident because:
• PIP benefits generally cover substantially more items and services than the GVSU health plans would.
• Making modifications to your home to accommodate wheel chair or other requirements
• Having a home health aide
• Extended long-term nursing care
• PIP benefits last for life (if unlimited) or until the PIP benefit maximum is reached. Coverage under your GVSU health plans will cease when an individual ceases to be eligible (e.g., inability to return to work), with possible extensions (employer-provided, FMLA –generally 12 weeks, and/or COBRA – generally 18, 29 or 36 months)
NO-FAULT AUTO INSURANCE REFORM
• Because GV medical plans exclude auto accident claims it is not considered a “Qualified Medical Plan”.
• For no-fault policies issued or renewed on or after July 1, 2020, individuals may choose various levels of PIP coverage:
• $250,000
• $500,000
• Unlimited (i.e., PIP coverage before no-fault reform)
• $50,000, if certain requirements are satisfied (Does not apply to faculty/staff enrolled in a GV medical plan)
• Opt-out (i.e., no PIP coverage), if certain requirements are satisfied (Does not apply to faculty/staff enrolled in a GV medical plan)
OTHER THINGS YOU NEED TO KNOW
Are you getting close to your 65th birthday?• Active faculty and staff members and their spouses that turn age 65
are not required to enroll in Medicare on their 65th birthday.
• Medicare has a special rule; as long as you continue to have coverage through GVSU you do not need to enroll in Medicare until you actually retire. Once you retire you will be able to enroll in Medicare without any penalty or waiting period.
• For more information visit our new Retiree Benefits web site at: https://www.gvsu.edu/hro/benefitswellness/retiree-benefits-41.htm
OTHER THINGS YOU NEED TO KNOW
Have you started your social security benefits? • If you start receiving Social Security benefits while you’re still employed, you’ll be
automatically enrolled in Medicare Part A and this will make you ineligible to make ongoing contributions to your HSA.
• If you become enrolled in Medicare during the year, your maximum HSA contribution is limited to a pro rata amount.
• You still own the HSA funds you’ve accumulated, though, and can use them for qualified medical out-of-pocket expenses.
• If you’re enrolled in any part of Medicare, and you’re not eligible to make contributions to an HSA, you can still be enrolled in the GVSU High Deductible PPO Plan
• For more information visit our new Retiree Benefits web site at: https://www.gvsu.edu/hro/benefitswellness/retiree-benefits-41.htm
OTHER THINGS YOU NEED TO KNOW
It is never too soon (or to late) to think about retirement • The 2020 Grand Valley State University 403(b) and 457(b) supplemental
contribution limits are:403(b) 457(b)
• Contribution Limit $19,500 $19,500
• Catch-up Contribution (age 50 and older) $6,500 $6,500
• A Roth post-tax supplemental contribution option is available for the GVSU 403(b) and 457(b) Retirement Plans
• Don’t wait - schedule a visit with our Fidelity Investment or TIAA representative
CONSUMER TOOLS-MYHEALTH
CONTACT INFORMATION
• Online Info: http://www.gvsu.edu/hro/benefitswellness/
Enrollment & Eligibility Information
• Human Resources Office–JHZ 1090
• Phone: (616) 331-2220
• Email:[email protected]