myHR: April 20, 2020 Open Enrollment Special Edition

Get Ready to Enroll: Benefits Open Enrollment is Here

Open Enrollment is your annual opportunity to update your healthcare elections for the coming plan year. This year, Open Enrollment runs from April 20 through May 1. 

This special edition of myHR details the plan changes and gives you information to help you consider which benefits plan is best for you and your family. Also, staff and faculty have access to a Benefits Media Library filled with videos and other resources that detail your benefits options and help you make informed decisions. 

Changes You Can Make During Open Enrollment

Do you need to make changes to your benefits options? Open Enrollment is the ideal time for you to enroll in one of Penn’s benefits plans, or consider changing elections if you need coverage that better meets the needs of you and your family. Some of the changes you may need to make during Open Enrollment include:

• Enrolling in a healthcare plan for the first time or dropping an existing plan.
• Switching to a different medical, dental, or vision plan.
• Increasing or decreasing your life insurance coverage.
• Changing how much you contribute to a flexible spending account.
• Adding or dropping a dependent from your benefits coverage.*

* If you add a new dependent, under Penn’s plan rules, you will need to verify your dependents eligibility in Workday by submitting the appropriate documents when you enroll. 

You should also review your life insurance beneficiary information, confirm its accuracy for all elections, and update it if necessary. To make this update, visit Workday at www.workday.upenn.edu and log in with your PennKey and password. You can also call the Benefits Solution Center at Health Advocate at 1-866-799-2329.

Though Open Enrollment does not apply to the retirement plan, the Open Enrollment period is a good time to review your retirement plan elections. You can make changes to your retirement plan anytime throughout the year. Visit the Retirement@Work Enrollment system or call the Retirement Call Center at 877-736-6738. For information about Penn’s retirement savings plans, watch the Retirement Savings Plan Overview video, or Text PENN850 to 61759 to view on your smartphone. 

Your Benefits and the CARES Act

Through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion appropriations bill that addresses many issues stemming from the pandemic, provisions have been made that apply to Penn’s Health Savings Accounts (HSA), Health Care Flexible Spending Accounts (HCFSA), and Retirement Savings Plans. Please review Penn’s CARES Act Frequently Asked Questions for more information. 

What Happens If You Don’t Make Changes?

If you don’t make changes during Open Enrollment, your current elections will roll over when the new plan year starts on July 1, 2020. 

What If You Waive Coverage?

Under the Affordable Care Act, if you waive your University coverage, you are still responsible for obtaining coverage through some other source. For example, you can obtain coverage through a spouse’s plan, your parent’s plan (if you are under age 26), or via the Health Insurance Marketplace.

When Changes Are Effective

Changes made during Open Enrollment will be effective as of July 1, 2020. New rates for all plans will be reflected in July 2020 paychecks. Your contributions for medical, dental, vision, and flexible spending accounts are made with pre-tax dollars. You pay for employee and dependent life insurance with after-tax dollars. All contributions are taken from your paycheck in the month for which your benefits are effective. Your pay must support your contributions for the benefits elected.

Making Changes After Enrollment

You cannot make changes to your healthcare benefits elections after the Open Enrollment period unless you experience a qualifying life event. Qualifying life events include the birth or adoption of a child, marriage, divorce or separation, death of a dependent, and change in your dependent’s eligibility for benefits. 

Keep in mind that the IRS limits the types of changes you can make for qualifying life events. If you experience a qualifying life event, please contact the Benefits Solution Center at Health Advocate within 30 days at 1-866-799-2329, Monday-Friday, 8 a.m.-10 p.m.

New Enrollment Process with Workday@Penn

This year the benefits Open Enrollment process has been simplified. It’s quick and easy. Simply enroll or update your elections in Workday at www.workday.upenn.edu. Use your PennKey and password to access the portal. For instructions on how to make changes in Workday, review the Self Service: Open Enrollment Elections tip sheet, or follow these steps to enroll:

1. Log into Workday at www.myworkday.com/upenn/login.html
2. From your home page, select the Inbox icon in the upper right corner or click “Go to Inbox”
3. Select “Open Enrollment – Event” in your inbox
4. Click “Elect” or “Waive” next to the corresponding benefit plan (your current coverage will be displayed for each benefits election)
5. When you have completed all of your elections, click "Submit".

Be sure to review your current elections and available choices in Workday even if you plan to keep the same coverage you have now. Remember, after Open Enrollment, healthcare benefits changes can only be made if you declare a qualifying life event.

While you’re in Workday, review your beneficiary information, confirm its accuracy for all elections, and update it if necessary. Once you have made your elections, you must print or save a confirmation. No confirmation statements will be mailed. 

For more information about enrolling in Workday, you can also watch the Self-Service: Open Enrollment video.

Plan Changes Effective July 1, 2020  

Penn has unprecedented news this Open Enrollment period. There will be no increase in medical and dental rates for the third straight year. That means Penn’s faculty and staff enrolled in a medical plan will not see an increase for the 2020-2021 plan year. Your cost for medical and dental coverage will not increase. 

Although the healthcare market in general has experienced approximately 5% medical cost inflation over the past few years, Penn’s plan costs have been much lower than the industry trend. Thanks to plan design changes, favorable claims experience, enhanced prescription drug management, wellness initiatives, and better employee consumerism, Penn has been able to maintain the same rates.

There is much more exciting news for the upcoming plan year, including a new online enrollment process in Workday. See article New Enrollment Process with Workday@Penn for details. You can also watch the What’s Changing video in the Benefits Media Library or Text PENN864 to 61759 to view the video on your smartphone. 

Upcoming plan changes are also listed below. 

A One-Time Opportunity to Increase Supplemental Life Insurance Coverage

The University through MetLife is offering a one-time opportunity to enroll or increase your Supplemental Life Insurance. 

Eligible faculty and staff can increase their supplemental life insurance coverage during Open Enrollment before providing evidence of insurability (i.e. proof of good health). This means, if you’re not currently enrolled, you can elect .05 × to 5 × your benefits base, or if you’re currently enrolled you can increase your coverage up to the 5 × max. If you select a total coverage level above $750,000 (coverage amounts based on your benefits base) you must provide additional evidence of insurability. To take advantage of this opportunity, you must elect this increase during this year’s Open Enrollment period. 

Watch the mail for your personalized information sheet from MetLife, which will provide you with detailed information about your current life insurance amounts and your available options during Open Enrollment. Please remember to review and/or update your beneficiary information in Workday. 

Penn provides you with Basic Life Insurance of 1 × your benefits base salary (maximum of $300,000) at no cost to you. If you are PT/ACA eligible, Penn provides a maximum of $50,000 in Basic Life Insurance. This one-time Supplemental Life Insurance coverage is in addition to the Basic Life benefit. 

*Note: You must be currently eligible for life insurance to take part in this offer. The amount of coverage is based on your benefits base that is effective as of March 2020. If you are a union employee, you can select up to 6 × your base salary to the max of $750,000. If you are PT/ACA eligible, you can select up to 2 × your base salary.  

Colonoscopy Screening Age Requirement Removed

Effective July 1, an annual colonoscopy screening (as recommended by your medical provider) will be covered at $0 co-pay for those enrolled in the Keystone HMO, Aetna POS II and the PennCare/Personal Choice plan. The age and frequency limitation for this type of screening has been removed. 

Penn Introduces Telemedicine

The University has partnered with Penn Medicine to offer a virtual care telemedicine practice called Penn Medicine OnDemand. Formerly called FirstCall, Penn Medicine OnDemand provides urgent primary care services by providers in the Penn Center for Connected Care. 

Penn Medicine OnDemand providers address your immediate care needs such as sore throats, rashes, earaches, muscle or joint pain, and other minor injuries. 

The telemedicine practice is available 24 hours a day, 7 days a week, 365 days a year by Penn Medicine providers who deliver fast and speedy care using video visits. When an in-person, office-based appointment with a PennCare provider is recommended, the Penn Medicine OnDemand team will help you schedule it at a time and location that is convenient for you.  

For more information, visit the Telemedicine with Penn Medicine OnDemand webpage.

Health Care and Dependent Care Flexible Spending Accounts (FSA)

When you participate in a Health Care Flexible Spending Account, you set aside pre-tax dollars to use for certain out-of-pocket healthcare costs. 

The IRS has increased the FSA limit from $2,700 to $2,750 for the 2020 calendar year. As you know, you can only rollover $500 to the next plan year, so be sure to submit your claims for the current plan year in a timely manner. 

The rules for using your FSA account remain the same. You may still need to provide receipts to verify that your claims are qualified expenses in accordance with IRS guidelines.

Health Savings Accounts (HSA) for HDHP

An HSA is a tax savings account for High Deductible Health Plan participants. HSA funds may be used to offset the cost of care. Penn will contribute to your HSA $1,000 for single coverage or $2,000 for family coverage. You can also contribute additional money to an HSA via pre-tax payroll deductions.  

The IRS has announced an increase in the HSA family maximum contribution by $100 for calendar year 2020. The single contribution limit will be $3,550 and the family contribution limit will be $7,100—inclusive of your employer contribution. If you are 55 and over, you can contribute an additional $1,000. 

Penn’s Health Savings Account custodial bank is changing from BNY Mellon to Health Equity, effective May 2020. BNY Mellon will no longer serve as the custodial bank for HSA accounts. A new account will be opened for participants at HealthEquity.  BNY Mellon will transfer your HSA balances to HealthEquity by the end of May. 

If you are currently enrolled in a Health Savings Account, you do not need to take any action for your account to be moved. 

You will receive a new HealthEquity health savings card in May. Please watch for important notification in the mail and your email from HealthEquity.

Tools to Help Choose Your Benefits Coverage   

Penn provides a variety of resources for faculty and staff to learn about the available benefits programs, compare plans, and choose options that best meet your healthcare needs.

Visit the Open Enrollment webpage to access the Benefits Enrollment Guide 2020-2021, medical rates, Benefits Overview Presentation, and plan summaries.

You can also access the Benefits Media Library to review a variety of videos and documents covering a range of topics, from how to choose a medical plan to prescription coverage to eligibility criteria. You can access the library during Open Enrollment and throughout the plan year. 

Here is a sampling of some of the resources you will find. The text codes provide easier access using your smartphone. (Message and data rates may apply. For terms and conditions go to https://www.guidespark.com/terms/. For privacy information go to https://www.guidespark.com/privacy-policy/).

• Benefits Overview (Text PENN147 to 61759)
• Account Contributions and Limits (Text PENN128 to 61759)
• Tax Advantaged Accounts (Text PENN343 to 61759)
• Enrollment Checklist (Text PENN054 to 61759)
• Cost Scenarios (Text PENN199 to 61759)
• Eligibility Criteria (Text PENN547 to 61759)
• Retirement Savings Plans Overview (Text PENN850 to 61759)
• Glossary of Benefits Terms (Text PENN068 to 61759)

To access the entire Benefits Media Library, click here or visit the Benefits and Pay webpage. 
 
For more information about your benefits options, you can also call the Benefits Solution Center at 1-866-799-2329, Monday-Friday, 8 a.m.-10 p.m., or email Human Resources at benefits@hr.upenn.edu.