2022 Open Enrollment and New Benefit Information
As communicated at the town hall meeting on September 28 with President Marsteller, the human resources team and the benefits committee explored several health insurance options and how they might best meet the needs of our employees. As a result of that process, we’ve decided to move our coverage for 2022 to the PAISBOA Health Benefit Trust, which consists of 140 independent universities and schools that collectively purchase health insurance for better bargaining power. This new arrangement provides greater stability each year in the annual renewal process and protects us from high claims costs.
This year, our annual open enrollment period will run from November 8 to November 19. Because of the new arrangement, we are asking all benefit-eligible employees to login into ADP to make their 2022 enrollment choices.
The insurance carrier for the Trust is Independence Blue Cross, which means you will continue moving forward with all of your current health care providers. There are several very positive aspects of this new arrangement that will benefit you directly, including:
- The deductible will decrease from $3,000 for single employees to $2,500 and from $6,000 for families to $5,000. Once the deductible has been met, there will no longer be copays on the back end for medical services.
- The college will continue to support employees by funding the second half of the deductible through the Health Reimbursement Account (HRA). We will continue to use the Harrison Group for both the HRA and the Health Savings Account (HSA).
- The prescription drug coverage will be administered by CVS/Caremark, but you can continue to use your pharmacy of choice. Much like the current coverage, you will pay the full price for the drug (with the pharmacy discounts applied) until you meet your deductible, and then you will have copays for all drugs based on their formulary list: $5 for generic; $20 for Preferred and $45 for Non-Preferred.
- The plan under the Trust also provides vision coverage through VBA at no extra cost to you.
- Employees who have single coverage, employee-plus-child(ren) coverage, or family coverage will have a reduction in cost for this plan. Employees who have employee-plus-spouse coverage will contribute at the same level as 2021.
Dental, Vision and Life Insurance
We will continue to offer the current plans with Metlife including the base dental plan, the buy up dental plan, the vision plan through VSP, and voluntary supplemental life insurance. For 2022, Metlife has provided us with a zero percent increase on all of these plans. The college will continue to support the $15 per month for employees who enroll in a dental plan.
The plan under the Trust has a wellness component tied directly through Independence Blue Cross. You now can earn $200 in gift cards by completing five healthy actions. While they cannot provide you the dollars in your HSA account, the college wants to keep the wellness benefits at the current level of $300, so for those who complete the requirements with the Trust, we will contribute $100 to the HSA to keep this amount the same.