Benefits ProgramGME Medical Residents and Fellows

Agenda

• Who is eligible

• Retirement Plan highlights

• Benefit Plan highlights

• How to enroll

Who Is Eligible

Who is Eligible?

GME Medical Residents and Fellows

• ‘Fellows’ means GME Resident and Fellow appointees with taxed compensation. (Residents paid through training grants (non-taxed) on the first of the month are not eligible for pre-tax employee benefits.)

Benefits are based on FTE status

• Full-time (100% FTE): eligible for all benefits

• Part-time (50% - 99% FTE): eligible for all benefits except: TSB pre-tax spending account and Personal Accident Insurance

Who Pays for Benefits?

• Benefit plans fully paid by affiliated hospitals through the GME office:

• Resident-paid through pre-tax payroll deductions:

• Pre-tax benefits are based on the tax year (not the academic year)

• Medical, Dental, and Vision • Life and Disability • Fee Courtesy • Physician Assistance

• TSB pre-tax spending account • Retirement plans• Personal Accident Insurance

Time-sensitive Enrollments

Enroll within 30 days or wait until next year• Medical with Vision• Dental• Personal Accident Insurance• Tax Saver Benefit (pretax flexible spending account)

Automatic Enrollment• GME Disability• GME Life Insurance• IU Tax Deferred Account (TDA) Plan (403b)

Enroll any time• IU Retirement Savings Plan (457b)

Changes in Enrollment

Enrollment changes in medical, dental, TSB, and PAI benefits after initial enrollment are limited to:

• 30 days after an IRS-qualified life event (e.g., marriage, divorce, or newborn)

• Or during Open Enrollment in November for a January 1st effective date

Retirement Plan Highlights

IU Retirement Plans

• Two plans available for employee voluntary contributions:

• Opportunity to save for retirement• Defer income taxes on current income and earnings• Contributions made via salary deferral

IU Tax Deferred

Account403b

IU Retirement

Savings Plan457b

IU Retirement Plans

IU TDA Plan 403(b) IU Retirement Savings Plan 457(b)

Enrollment Automatic Enrollment or Waive out Must elect participation

Investment Companies TIAA-CREF & Fidelity Investments TIAA-CREF & Fidelity Investments

Withdrawals / Distributions Separation from IU or attainment of age 59½ Separation from IU

Penalty Tax 10% tax penalty for withdrawals generally before age 59½ No early withdrawal tax penalty

Flexible, Easy, Convenient

• Participant determines percent amount to save

• Salary Deferral Agreement is open-ended• 100% vested all contributions and

earnings• Ability to start or stop at any time• Ability to change investment funds or

companies at any time

IU Retirement Plans

How to participate in the plans:1. Choose a plan.

2. Choose an investment company.

3. Complete online application with investment company.

4. Decide how much of salary (must be a percentage) to direct to the plan.

You can enroll and stop participation any time during the calendar year.

Resources

University HR Website:www.hr.iu.edu

IU Retirement Savings Planhttp://www.hr.iu.edu/benefits/457b.html

TDA Planhttp://www.hr.iu.edu/benefits/tda.html

University Retirement Program Services: retplans@indiana.edu

Resources

Investment counseling provided by TIAA-CREF andFidelity:

1. Phone Consultants2. On campus Consultants (all IU campuses)3. Online tools

Contact Information:Fidelity 1-800-343-0860; http://plan.fidelity.com/indianaTIAA-CREF 1-800-842-2273; http://www1.tiaa-cref.org/tcm/indiana/

Benefit Plan Highlights

Medical Plan Highlights

• Comprehensive coverage through Anthem PPO network (full benefits in-network; partial benefit out-of-network)

• Deductible: $350 individual ($1,050 family) • Office visit copays: $25/$40 (primary/specialty)• Urgent/Emergency care: $75/$150• Other services 20% copay after deductible• Prescription through Express Scripts network

• Retail 30-day supply: $10/$25/$75 (generic, preferred and non-preferred)

• Mail 90-day supply: $25/$60/$180 (generic, preferred and non-preferred)

Medical Plan Highlights

• Preventive services covered at 100%- Routine annual exams

- Well baby and child visits

- Immunizations

- Women’s contraceptive services and prescriptions

• Mental Health covered the same as any other medical service

Medical Plan Highlights

• No pre-existing conditions

• Worldwide coverage – international claims are covered at the in-network rate

• Blue View Vision Plan – coverage for vision exams and vision wear using the Anthem vision network

Dental Plan Highlights – Dental PPO or HMO

• PPO (highest level of benefit through network dentists)• Plan year maximum benefit: $500• Annual Deductible: $50 individual/$150 family• Preventive services: no member cost • Basic restorative services (e.g., fillings): 20% copay• Major restorative services (e.g., crowns, bridges): 50% copay

• HMO (limited network; no out-of-network benefits)• No deductible• No maximum benefit• Preventive services: no member cost• Other services: have fixed dollar copays

Personal Accident Insurance (PAI)

• Voluntary, employee paid through pre-tax payroll deduction

• Accidental death, loss of limbs, sight, hearing, etc.

• Choice of Single or Family coverage

• Choice of several coverage amounts from $30,000 to $500,000• Premiums from $0.48 to $13.00 per month• Includes travel protections, such as repatriation and medical

evacuation

IU Tax Saver Benefit Plan (TSB)

• Employee can set aside pre-tax payroll contributions for IRS-qualified expenses:

– Health care expenses up to $2,500 and/or

– Qualified dependent care (adult/child) up to $5,000

• The money contributed to TSB reimbursement accounts is not subject to federal, state, local, or FICA taxes.

• Employees do not have to be enrolled in an IU-sponsored medical plan to take advantage of these savings.

Examples of IRS-allowed expenses

Health:• Health expenses for you and your tax dependents

• Deductibles and copays • Prescriptions• Dental • Vision• IRS-defined medical equipment and supplies

Dependent care:• Daycare expenses that allow you to work or attend school

• Care for your children under age 13• Adult care for a tax dependent• Not allowed to be used for kindergarten, overnight camp

IU Tax Saver Benefit Plan (TSB)

• You pledge an annual (calendar year) dollar amount from your paycheck, on a pre-tax basis.

• An account is opened in your name with the plan administrator, Nyhart.• The entire election amount is available on your effective date, even though

you haven’t had the entire amount deducted through payroll.

• When you incur eligible expenses, you use the funds in your Nyhart account.• Use a debit card at the time of services for health expenses.• Submit paper or online claims for reimbursement of health or dependent

care expenses.

TSB Governed by IRS Code

• Funds can be used for expenses as defined by the IRS• Unused contributions do not roll over – “use it or lose it”• Eligible expenses must be incurred (received) during the tax

year:• Health Reimbursement has a 2-month grace period to incur expenses, i.e.,

January and February

• Plan elections cannot be changed during the year except under certain IRS family status changes.

• Rely on your tax advisor or Nyhart for questions about your individual situation.

Your Initial Enrollment

• Pledge based on tax (calendar) year• Pledge divided evenly over remaining tax year paychecks• Entire pledge available “immediately” after enrolling• Eligible expenses can be incurred appointment date through:

• Health: February 28th • Dependent care: December 31st

• All claims must be submitted by the tax deadline

• Unclaimed amounts after the tax deadline are forfeited

The TSB Flex Card Option

You have two options for accessing your TSB health care account:

1. Fax, mail, or submit receipts online to Nyhart for reimbursement.

2. Pay for eligible expenses at the point of purchase using the IU TSB Flex Card. (Keep your receipts)

Elect the card during online enrollment

TSB Online Account Access

Visit the Nyhart website at iutsb.nyhart.com to:

– Track balances– Submit claims online– Download forms– Check list of eligible items

COBRA Coverage

• If you terminate your residency, you are entitled to continue your health plan coverage for up to 18 months.

• Dependent children that age-off and divorced spouses can continue up to 36 months.

• You pay the full cost of continuation coverage.

Additional Benefits

• 24-hour Nurseline- Provides professional help when day-to-day activities are interrupted by stress. IUEAP

services are confidential and voluntary.

• IU Employee Assistance Program (EAP)- Provides professional help when day-to-day activities are interrupted by stress.

IUEAP services are confidential and voluntary.

• IU Staff and Faculty Clinic- Same-day access to primary care at IU Health University Hospital

• Castlight’s Transparency Tool- Helps employees find in-network medical services based on price, quality of care,

and more

Resources

University Human Resources:Web: http://hr.iu.edu/benefits/index.htmlEmail: hrenroll@iu.eduPhone: 812-855-6043

How To Enroll

How to Enroll

Residents receive an email:

• with a link to plan details

• and instructions on enrolling.

Enroll at http://hr.iu.edu/enroll/med_res.html

Request Family Status Changes Online

hr.iu.edu

Select“Benefits Change

Connection”

Register for Castlight’s Transparency Tool

Select“Transparency Tool”