Presentation Title RQP3 Open Enrollment 2018 November 6- 17, 2017 - - PowerPoint PPT Presentation
Presentation Title RQP3 Open Enrollment 2018 November 6- 17, 2017 New for 2018! New Enrollment System: Explain My Benefits ( www.ExplainMyBenefits.biz/ReliaQuest ) New Insurance Options: Dependent Care FSA, Critical Illness Insurance,
Insurance, Whole Life Insurance
United Healthcare | HDHP Choice Plus | www.MyUHC.com
Annual Deductible Employee Only Employee + Dependent(s)
The amount you pay for covered health services before UHC begins to pay.
Out-of-network: $5,000
Out-of-network: $10,000
Coinsurance Your cost after deductible
Your share of covered health care services after you have met your annual deductible (except for prescription medications).
Out-of-network: 50%
Maximum Out-of-Pocket Employee Only Employee + Dependent(s)
The most you pay for all covered expenses, including prescription medications, during a plan year before your health plan begins to pay 100%.
Out-of-network: $10,000
Out-of-network: $20,000
Annual Deductible Retail (Up to 31-day supply) Mail Order (Up to 90-day supply)
Tier 3 $60 $150 (Discount of $30)
Annual Deductible Retail (Up to 31-day supply) Mail Order (Up to 90-day supply)
Tier 2 $35 $87.50 (Discount of $17.50)
Annual Deductible Retail (Up to 31-day supply) Mail Order (Up to 90-day supply)
Tier 1 $10 $25 (Discount of $5)
(Until then, you pay the retail cost for each prescription.)
Coverage Tier Bi-Weekly Cost (per pay period) Employee Only $0 Employee + Spouse $66.27 Employee + Child(ren) $52.35 Employee + Family $88.41
*Rates stay the same in 2018!
*Lower rates in 2018!
* 100% Paid for by RQ
Bank of America HSA
qualified health expenses.
Medical Coverage Tier Maximum Employee Contribution
(per IRS regulations) Employee Only $3,450
Less the RQ quarterly contributions
Employee + Dependent(s) $6,900
Less the RQ quarterly contributions
* $1,000 catch-up contribution for ages 55+
coverage ends.
Examples of qualified expenses
Example of Tax Savings
Your increased annual take-home pay and HSA savings depend on your income tax bracket. If you are in a 30 percent tax bracket, you can save $30 for every $100 that you put into your HSA. Put $1,000 in your account, and you increase your annual take-home pay by $300.
Pre-tax account to set aside money from each paycheck for dependent care expenses. The annual IRS limit is $5,000. If you are married and file separate returns, you can each elect $2,500 for the calendar year.
Examples of eligible expenses:
Eligible Dependents:
hospital stays and medical exams, but for other related expenses, such as transportation, lodging needs, etc.
go to a physician for one or more qualified health screenings.
To view of list of qualified health screenings- please see the “Group Accident Brochure” posted on Explain My Benefits enrollment portal.
Johnny’s parents haven’t met their deductible. What are poor Johnny’s parents to do?
Critical Illness & Cancer insurance pays you a cash lump sum if you or any enrolled dependent is diagnosed with a qualifying critical illness or cancer.
you and any dependents
year, if you go to a physician for one or more qualified health screenings.
At no cost to you, RQ provides a basic life and AD&D policy through Cigna. The life insurance benefit is equal to 1x your annual salary. All employees are eligible. You will need to enter your beneficiaries in the EMB portal.
Employee: apply in increments of $10,000 to a maximum of $500,000. Guarantee Issue amount up to $150,000. Spouse: apply in increments of $5,000 up to the lesser of 100% of the employee voluntary life or $150,000. Guarantee Issue amount up to $10,000. Child: apply in increments of $2,000 to a maximum of $10,000, for dependent children up until they can no longer be claimed as a full-time student. The benefit amount from birth to six months is $500.
Amounts over the Guaranteed Issue limit will require Evidence of Insurability (EOI).
insurance component pays when the insured individual dies. The investment component builds an accumulated cash value the insured individual can borrow against or withdraw.
Please view the plan document on the ExplainMyBenefits portal for more information.
(if you were born 1960 or later, this would be 67 years old)
available to you and your dependents.
Your Login Credentials
Employee ID: The last four digits of your SSN plus your date of birth. (1234MMDDYY) PIN: Four-digit birth year (YYYY)
Once you reach the end of the enrollment, please confirm your benefits. To enroll successfully, you MUST see a confirmation as shown below:
Holly Intini, Team RQ
Hintini@ReliaQuest.com
(813) 210-8488