Save Moneymycpchembenefits.com/Documents/Elements-Newsletters/2015-Jun… · YOUR BENEFITS NEWSLETTER CHEVRON PHILLIPS CHEMICAL COMPANY LP (CHEVRON PHILLIPS CHEMICAL) JUNE 2015. Save

Y O U R B E N E F I T S N E W S L E T T E R

C H E V R O N P H I L L I P S C H E M I C A L C O M PA N Y L P ( C H E V R O N P H I L L I P S C H E M I C A L )

JUNE 2015

Save Money –

Sometimes, we all need help making health care decisions. Should you call your doctor or go to an emergency room (ER)? While your immediate health and safety are always first priorities, knowing your available options ahead of time can help you make the best decision regarding your treatment and may save you valuable time and money in the long run.

WALK-IN CLINICSWalk-in clinics cost the least and are a good option for common minor ailments. You can find these walk-in clinics at local drug stores and supermarkets like CVS/pharmacy®, Walgreens and HEB. These locations are staffed by nurse practitioners or physician’s assistants supervised by physicians, and no appointment is needed.

Consider going to an affordable walk-in clinic for:

• Coughs, sore throats, cold or flu symptoms

• Allergies or mild asthma

• Eye or ear infections

• Vaccinations(continued)

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WHAT’S

INSIDE: Save Money — How to Choose Between an ER,

Urgent Care or Walk-in Clinic

Save on Your Home and Auto Insurance

Free Will Preparation Service for CPChem Supplemental Life

Insurance Participants

An Easier Way to Manage Diabetes

New Income+ Feature From Financial Engines

Free Social Security Planning Tool From Financial Engines

Healthy Discounts for Medical Plan Participants

Your Future is a Big Deal — A Little Guidance From

Fidelity Can Help

Thinking About a Roth In-Plan Conversion?

New 401(k) Partial Lump-Sum Distribution Option

Another Strong 401(k) Profit-Sharing Contribution

From CPChem

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How to Choose Between an ER, Urgent Care or Walk-in Clinic

Important DatesDate Activity

Throughout 2015 • CPChem medical plan participants: Please remember to take advantage of your free medical preventive visit

• Contribute to the CPChem 401(k) Plan to earn Company Match and potential profit-sharing contributions

August 2015 2015 Total Rewards Statements mailed to your home

October 2015 2016 Health Benefits Open Enrollment

December 31, 2015 Last day to incur FSA expenses for 2015

March 31, 2016 Last day to request reimbursement for 2015 expenses

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E L E M E N T S — Y O U R B E N E F I T S N E W S L E T T E R. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

To find urgent care and walk-in clinics close to you:

• Go to “Find a Doctor” on www.aetna.com.

• Log in to your secure member website and select “Urgent Care Facilities” or “Walk-In Clinics.”

URGENT CARE CENTERSPhysician-staffed urgent care centers offer treatments for conditions that need to be treated immediately, but are not serious enough to require an ER visit. Urgent care centers typically cost substantially less than an ER.

Urgent Care Service Average ER Cost* Average Urgent Care Cost*

Sprains $550 – $750 $110 – $150

Influenza $550 – $750 $110 – $150

Minor Lacerations $550 – $750 $110 – $150

Headaches — Migraines and Tension $550 – $750 $110 – $150

Source: Aetna

* Average cost before insurance coverage.

Consider going to an urgent care center for:

• Fractures or X-rays

• Cuts, stitches, bumps or sprains

• Dehydration

Many of these urgent care centers are open seven days a week. You can even visit some on nights, weekends and holidays. Often, no appointments are necessary. That makes visiting them an easier option. It also saves you a trip to the ER.

WHEN TO GO TO AN ER

If you have chest pains, trouble breathing, bad bleeding or any other life-threatening illness or injury — call 911 or go straight to your local ER.

Don’t Forget — 31 days

If you have a qualified status change (a.k.a. “life event”), such as a marriage, birth of a child, etc., you are typically eligible to change certain benefits, but you must do so within 31 days of the event. You can initiate your benefit changes by calling the Chevron Phillips Benefits Service Center at 1-800-446-1422 (option 1) or by logging in to cpchembenefits.mercerhrs.com.

Hidden Medical Plan Costs

Have you considered that the medical plan costs taken from your paycheck are real medical costs, the same as the out-of-pocket expenses you pay to your doctor or pharmacy? The Medical Plan option you choose has a big impact on your take-home pay! For example:

Annual family premiums:

• Select EPO Plan: $4,331

• Choice PPO Plan: $2,161

• Value CDH Plan: $0

https://ibenefitcenter2.mercerhrs.com/CHEPHI/login.tpz

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and Auto InsuranceSave on Your Home

When is the last time you shopped around for a more affordable car or home insurance policy? Now is a great time. Just for being a CPChem employee, you can take advantage of special group discounts and save up to 10% off your car insurance and 5% off your home insurance through the Liberty Mutual AdvantageTM Program.

Additional savings and benefits include:

• Discounts based on your age, driving history, car safety features and more.

• Convenient payment options, including a direct bill to your home or electronic funds transfer (EFT).

• 24/7 claims service with access to local representatives.

To learn more about Liberty Mutual Insurance and take advantage of the discounted rate, call 1-800-524-9400 or visit www.libertymutual.com/cpchem. The CPChem client number is 121742.

Free Will Preparation Service forCPChem Supplemental Life Insurance ParticipantsTo help ensure that your assets are distributed according to your wishes, Chevron Phillips Chemical offers a will preparation service, provided by Hyatt Legal Plans, a MetLife company. The service provides eligible employees who have elected supplemental life insurance and their spouses access to Hyatt Legal Plan’s network attorneys who prepare or update wills, living wills or powers of attorney at no additional charge.

When you choose a participating Hyatt Legal Plan attorney, the attorney’s fees are fully covered and there are no claim forms to file. You also have the flexibility of using a non-network attorney and being reimbursed for covered services according to a set fee schedule.

To access the service or for any questions, contact the Hyatt Legal Plan at 1-800-821-6400.

A Hyatt Legal Plan Representative will:

• Ask you to provide your company name and the last four digits of your Social Security number or Employee number,

• Help you locate a participating plan attorney in your area, and

• Provide you with case numbers to give to the attorney you choose, and answer any questions you have.

Then, you contact the attorney’s office and make an appointment at a time convenient for you.

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http://www.libertymutual.com/cpchem

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An Easier Way toManage Diabetes

According to a recent report released by the Centers for Disease Control and Prevention, diabetes affects more than 29 million Americans and nearly 1 in 4 are undiagnosed. Although it’s a serious disease, diabetes can be managed with the appropriate care. Chevron Phillips Chemical, in partnership with Aetna and DiabetesAmerica (DA), offers a valuable diabetes management program for employees and their covered adult dependents.

As an incentive to participate in this effective and convenient program, CPChem employees will pay only $10 copays under the Select EPO and Choice PPO Plans and 30% co-insurance (after your deductible is met) under the Value CDH Plan.

This invaluable program provides access to DiabetesAmerica Health Centers — facilities designed specifically to meet the needs of diabetes patients — with the following services, all under one roof:

• Free diabetes screening for employees and their covered dependents over age 18

• At least 4-5 physician visits during the first year (as needed)

• Onsite diabetes education

• Onsite lab and diagnostic testing

• Pharmacy e-prescribing

• Annual retinal exam

For more information about this program, or to schedule your appointment, call 1-888-877-8427 or visit www.diabetesamerica.com.

DiabetesAmerica has convenient locations for many of CPChem’s employees

Houston Area

• Cypress Fairbanks

• Humble

• Katy

• Medical Center/Kirby Glen

• Pasadena

• Pearland

• Sugarland

• The Woodlands

Dallas/Forth Worth

• Arlington

• Irving/Los Colinas

• Plano

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New Income+ Feature FromFinancial Engines

CPChem is pleased to announce the new “Income+” feature available at no additional fee* for CPChem’s Professional Management participants who are at least age 55 and within 5 years of retirement. With Income+, Financial Engines can help you make the transition to retirement with investing and spending strategies that are smart and flexible. Here’s what the Income+ feature offers you:

HELP TO PROTECT AND GROW YOUR INVESTMENTSAs you get closer to retirement, Professional Management will start to reallocate your investments to balance safety and growth. This strategy is intended to help you reduce the likelihood of big market-related losses to your retirement income, while preserving growth potential. Your account will be routinely rebalanced to keep you in this relatively safer zone.

ADVICE TO MAKE YOUR MONEY LAST THROUGHOUT RETIREMENTThe Income+ feature of Professional Management is designed to help provide steady income in retirement. Financial Engines will manage the investments in your account now to help provide monthly payouts that can last until your early 90s. And once you retire, at your request, Financial Engines works with Fidelity to send you monthly payments, like a “retirement paycheck,” from your 401(k) account. If you need payouts longer than that, you can purchase an optional annuity from another vendor that will extend your payouts for life.

UNLIMITED ACCESS TO LICENSED ADVISOR REPRESENTATIVESWith Professional Management, you have unlimited phone access to a team of investment advisor representatives who provide objective financial guidance.

For questions about the Income+ feature, contact Fidelity Investments at 1-877-401-5762 and ask to be connected to Financial Engines.

* Through Chevron Phillips Chemical, the annual Professional Management fee is 0.60% of your managed account balance (about $5.00 per month for each $10,000 in your account). Discounts for balances over $100,000.

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Planning Tool From Financial EnginesFree Social Security

There could be more than 8,000 combinations for claiming Social Security, and finding the one for you can be a challenge. The expected amount you receive depends on a variety of factors, including the timing of when you start your benefits for both you and your spouse. Optimal claiming could mean as much as $270,000 in additional expected lifetime wealth for a married couple.

CPChem has partnered with Financial Engines to bring you a new Social Security planning tool, available free-of-charge on the Financial Engines website for CPChem 401(k) Plan participants.

To access the new Social Security planning tool, click on the Financial Engines link after logging in to www.netbenefits.com, click through to the “Online Advice” (or do-it-yourself) tool, and select “Get Started” under the “Income Planner” tab.


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Medical Plan Participants Healthy Discounts for

CPChem’s commitment to wellness includes partnering with Aetna to offer you special discounts on products and services to help you maintain a healthy lifestyle. These discounts, which feature offerings not covered by the Medical Plan, include:

• Low or discounted membership rates at contracted independent health clubs through GlobalFitTM.

• Discounts on certain home exercise equipment through GlobalFitTM.

• Discounts on eye care products and services (more likely to be beneficial for employees who are not enrolled in CPChem’s VSP Vision PLUS Plan).

• Discounts on over-the-counter dental products such as water flossers.

• Savings on over-the-counter vitamins and items such as blood pressure monitors or certain alternative care services such as massage therapy.

Please note that not all discounts are available in every state. And keep in mind that since these discounts are not part of our CPChem medical, dental or vision plans, when you purchase a product or service, you are responsible for the full discounted cost.

To learn more about the fitness and other discounts available to you, and to see a list of participating providers and vendors, log on to Aetna Navigator at www.aetna.com. Search for specific discounts by selecting the Health Programs tab at the top of the page and clicking on “See the discounts.”


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A Little Guidance FromYour Future is a Big Deal —

Fidelity Can HelpIt never hurts to get a little expert guidance now and then, particularly on something as important as your future. Are you saving enough? Is your current investment mix working to keep you on track? If your situation has changed, do you need to make adjustments? When can you retire?

Consider contacting a Fidelity Workplace and Guidance Consultant to help you answer these questions and more. If you’re a participant in the CPChem 401(k) Savings and Profit-Sharing Plan, Fidelity’s specially trained and registered consultants, with expertise in the CPChem plan, are ready to assist you free of charge!

For example, you might contact a Fidelity Workplace Planning and Guidance Consultant to help you …

• With plan enrollment, including a discussion about what investment mix might be right for you.

• Put a plan in place to balance the needs of your life today with your expected needs in retirement.

• Understand how much you’ll need in retirement, the steps you can take to get there and what your retirement income may look like.

• Determine how to balance multiple financial goals, such as paying for college, buying a home or building an emergency fund.

Fidelity Workplace Planning and Guidance Consultants are available to talk with you about your financial future. To get started, simply call 1-800-603-4015 any time from 8:30 a.m. to 8:30 p.m., Eastern time, Monday through Friday.

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Roth In-Plan Conversion?Thinking About a

Effective April 1, 2015, you can now elect to convert all or a portion of your pre-tax and/or after-tax accounts to Roth accounts through the New Roth In-Plan Conversion feature.

Then, when you withdraw funds from a Roth 401(k) account after age 59½, the funds and their investment earnings will be tax-free as long as you’ve had the account for five years. Because Roth accounts are not typically

taxable on distribution, the amount of funds converted from your pre-tax accounts will be taxable as gross income in the year of conversion, just as if you had earned it or taken it as a distribution. Converted amounts of after-tax contributions (including MSAs) will not be taxable, since you’ve already paid taxes on those contributions, although the gains and/or losses on those after-tax contributions may be taxable.

To inquire about Roth In-Plan Conversion, contact the Chevron Phillips Savings and Pension Service Center at 1-866-771-5225.

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Distribution OptionNew 401(k) Partial Lump-Sum

When you retire or otherwise leave CPChem after age 59½, you have several options for the vested value of your CPChem 401(k) Savings and Profit-Sharing Plan (as long as it exceeds $1,000).

• You can leave it in the plan until you reach age 70½ when the IRS requires that you begin taking distributions.

• You can take it all at once — as one lump sum.

• You can request your account be distributed in pre-scheduled monthly, quarterly or annual installments.

• Or, NEW beginning October 2014, you can take a partial lump-sum distribution — any amount over $250 — and leave the rest in the plan.

The new partial lump-sum option offers the flexibility for you to have the best of both worlds, as you can both:

• withdraw a portion of your 401(k) account as a lump sum for an immediate cash need or another investment opportunity; AND

• leave the remaining assets in the plan to continue their tax-advantaged growth in the plan’s low-fee investment options.

For more information about the 401(k) Savings Plan, including your distribution options, please refer to the 401(k) Savings and Profit-Sharing Plan Summary Plan Description at www.mycpchembenefits.com/benefithandbooks.

http://www.mycpchembenefits.com/benefithandbooks

http://www.mycpchembenefits.com/benefithandbooks

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CPChem is pleased to again provide a Profit-Sharing contribution to your 401(k) Savings Plan for plan year 2014. The 7.2% Profit-Sharing contribution* was deposited in your 401(k) account on March 23, 2015, and was reflected on your March 31, 2015, Fidelity account statement. The Profit-Sharing contribution is in addition to the Company Matching contribution and is based on CPChem’s 2014 financial performance.

Example — 401(k) Profit-Sharing Contribution (Eligible Pay: $80,000, Profit-Sharing Payout: 7.2%)

If you contributed 7.2% of your eligible pay to the CPChem 401(k) Plan as pre-tax and/or Roth after-tax deferrals in 2014, your combined Company contribution in 2014 would be 11.7%. Translated into dollars, the 7.2% Profit-Sharing contribution plus your Company Matching contributions would look like this, assuming your eligible pay was $80,000 in 2014:

Employee Contributions Total Company Contributions*

7.2% $5,760 7.2% Profit-Sharing $ 5,760

4.5% Company Match $ 3,600

7.2% $5,760 11.7% $ 9,360

Note: The maximum possible Profit-Sharing award is 8%*, so if you have the means, you should consider contributing at least 8% of your pay as pre-tax and/or Roth after-tax contributions to the CPChem 401(k) Plan.

* Note: Company Match and Profit-Sharing Contributions are different for certain Performance Pipe hourly employee groups.

Contribution From CPChemAnother Strong 401(k) Profit-Sharing

For more information and Q&As about the Profit-Sharing contribution for 2014, go to www.mycpchembenefits.com under “Retirement & Savings,” then “Education.”

Chevron Phillips ChemicalP.O. Box 9735Providence, RI 02940

Y O U R B E N E F I T S N E W S L E T T E R

C H E V R O N P H I L L I P S C H E M I C A L C O M PA N Y L P ( C H E V R O N P H I L L I P S C H E M I C A L )

J U N E 2 0 1 5

Notice to Participants Elements … Your Benefits Newsletter (“the Newsletter”) is applicable to all participating Chevron Phillips Chemical Company LP (“Company”) employees; other than hourly represented employees of Performance Pipe at Bloomfield and Fairfield, Iowa.

The Newsletter, including the examples contained herein, is not intended to constitute a promise or contractual commitment by the Company or a right to benefits under any of its employee benefit plans. The Company reserves the right to unilaterally change or terminate any or all of its employee benefit plans at any time and without prior notice. Also, modifications may be necessary to comply with applicable legal requirements. In the event of any inconsistency between a statement contained in the Newsletter and the relevant plan document, the plan document will control. Employees covered by collective bargaining agreements will also be subject to the benefit plan provisions contained in the applicable collective bargaining agreements. In addition, the Newsletter is not intended to be and should not be treated as investment, tax, or health advice. Participants should not rely upon the information contained in the Newsletter as a substitute for obtaining specific investment, tax or health advice from their financial planner, tax advisor, or physician.

The third-party vendors mentioned in this Newsletter are independent contractors. Nothing contained in this Newsletter shall be construed to create the relationship of principal, agent, partnership or joint venture, or to create any other corporate or agency relationship between the third-party vendors and the Company.