Post on 26-Dec-2015
CONFIDENTIALCopyright © 2012
AgendaAgenda
• High Deductible Health Plan (CDHP) and HRA Plan Overview
• Wellness Incentives
• FSA Plan Overview
• Health Reserve Account (VEBA) Overview
• Genesis OneCard Debit Card
• Online Tool Kit
• Questions
CONFIDENTIALCopyright © 2012
CDHP CDHP
• Lower premium cost out of your paycheck
• Brown County funds most of your deductible with HRA contributions
• Wellness Incentives• Save for retirement in the Health
Reserve Account (VEBA)
CONFIDENTIALCopyright © 2012
Health Reimbursement Arrangement (HRA)Health Reimbursement Arrangement (HRA)
• In 2013 you will receive the following amounts contributed in your HRA quarterly:– Single = $300 ($1,200 annually)
– Family = $600 ($2,400 annually)
• HRA money can be used for all 213(d) eligible expenses– See your Qualified Expenses handout
• Unused HRA money rolls over from quarter to quarter• HRA money in excess of your deductible available at the
end of the runout period each year (March 31) is deposited into a Health Reserve Account (VEBA) at ING
• In 2013 you will receive the following amounts contributed in your HRA quarterly:– Single = $300 ($1,200 annually)
– Family = $600 ($2,400 annually)
• HRA money can be used for all 213(d) eligible expenses– See your Qualified Expenses handout
• Unused HRA money rolls over from quarter to quarter• HRA money in excess of your deductible available at the
end of the runout period each year (March 31) is deposited into a Health Reserve Account (VEBA) at ING
CONFIDENTIALCopyright © 2012
Wellness IncentivesWellness Incentives
• Employees and spouses enrolled in the CDHP plan may choose to participate in a Wellness Incentive Program
• After an employee completes one of the incentives, the dollars will be deposited into the HRA accounts after the completion of each quarter
• Incentives:– $100 per annual exam– $25 per dental cleaning (2x per year maximum)– $50 for Wellness Incentive Form
• Employees and spouses can each complete the incentives
• Maximum incentives are $200/single and $500/family
CONFIDENTIALCopyright © 2012
Flexible Spending AccountsFlexible Spending Accounts
HEALTH CARE REIMBURSEMENT ACCOUNT
– This plan allows you to use pre-tax dollars to pay for any of your eligible out-of-pocket medical and/or dental expenses.
DEPENDENT CARE REIMBURSEMENT ACCOUNT
– This plan allows you to set aside pre-tax dollars to pay for your eligible dependent care expenses.
HEALTH CARE REIMBURSEMENT ACCOUNT
– This plan allows you to use pre-tax dollars to pay for any of your eligible out-of-pocket medical and/or dental expenses.
DEPENDENT CARE REIMBURSEMENT ACCOUNT
– This plan allows you to set aside pre-tax dollars to pay for your eligible dependent care expenses.
CONFIDENTIALCopyright © 2012
Reimbursable ExpensesReimbursable Expenses
• Expenses not covered by your insurance plans can be reimbursed tax-free.– Co-pays and deductibles from your medical plan– Dental expenses– Prescription drugs– Chiropractic services– Prescription eyeglasses and contact lenses– Laser eye surgery– Hearing aids– Orthodontia – Etc.
• Expenses not covered by your insurance plans can be reimbursed tax-free.– Co-pays and deductibles from your medical plan– Dental expenses– Prescription drugs– Chiropractic services– Prescription eyeglasses and contact lenses– Laser eye surgery– Hearing aids– Orthodontia – Etc.
www.irs.gov
Publication 502
CONFIDENTIALCopyright © 2012
Additional ServicesAdditional Services
• Recurring Dependent Care Claim Program– Submit a Recurring Dependent Care Request Form that is
signed by your daycare provider and receive reimbursements automatically after each payroll deduction.
• Direct Deposit– Please complete our Direct Deposit Form to have
reimbursements sent directly to your checking or savings account
• Genesis Employee Benefits Customer Care Team is available via phone, email or online chat. We are happy to serve you Monday through Friday, 7:30 am to 4:30 p.m. CST.
CONFIDENTIALCopyright © 2012
Flex Plan Reimbursement AccountsFlex Plan Reimbursement Accounts
Important things to keep in mind:• Max Election Amounts: Medical FSA $2,500 Medical FSA $2,500 and
Dependent Care FSA $5,000. Dependent Care FSA $5,000. • ”Use it or Lose it” Rule.• Expenses must be incurred with a date of service
during the plan year. January 1st through March January 1st through March 3131stst the following year. the following year.
• If you have both a FSA and an HRA, the FSA balance must be zero before you receive reimbursement for HRA claims.
CONFIDENTIALCopyright © 2012
How are VEBA Contributions Determined?How are VEBA Contributions Determined?
• HRA balances in excess of your medical plan deductible at the end of the plan year will be deposited into a VEBA Health Savings Plan.VEBA Health Savings Plan.
• Example:– You have had family CDHP coverage with a $3,000
deductible in 2012 and again in 2013– You have $2,000 remaining in your HRA from 2012– You receive and additional $2,400 for 2013 (applied quarterly)
– As of December 31, 2013 your HRA balance is $4,400– Your 2013 deductible is $3,000, so the difference ($4,400
- $3,000) $1,400 is deposited into your VEBA account.
CONFIDENTIALCopyright © 2012
VEBA Account FeaturesVEBA Account Features
• Similar to a 457 plan for health care expenses
• Your VEBA account balances can be invested
• Account balances roll-over year-to-year
• Account balances are available to reimburse expenses during your active employment years as well as during retirement
CONFIDENTIALCopyright © 2012
VEBA - Triple Tax-FreeVEBA - Triple Tax-Free
• ContributionsContributions made to your account are not subject to taxation
• EarningsEarnings on your account balance are not subject to taxation
• ClaimsClaims payment withdrawals for eligible expenses are not subject to taxation
• The money in your VEBA account is available for medical expenses if you need it now -OR--OR- save for future expenses
CONFIDENTIALCopyright © 2012
VEBA – Surviving Dependent Account AccessVEBA – Surviving Dependent Account Access
• What happens to my account when I pass away?– If you have a spouse and/or dependents at the time of your death,
they may continue to use your account to pay any eligible health care expenses that they incur until the account is exhausted. Please note that dependents must have been a “dependent” as defined by the IRS at the time of your death.
– Under IRS rules, no amount can be paid out of your account upon your death to anyone but your eligible spouse and/or dependents, and the payments can only be for the reimbursement of eligible health care expenses.
– In the event that you have no spouse or eligible dependents at the time of death, the executor of the estate may submit any final eligible expenses for reimbursement to the estate. Any remaining funds in the account after the final reimbursement will be redistributed among the remaining members of the Brown County VEBA Health Savings Trust.
CONFIDENTIALCopyright © 2012
Claim
Payment
(Applied to Deductible & Out-of-Pocket)Individual’s
Responsibility
How Does the Ordering Work?How Does the Ordering Work?
High Deductible Health Plan
Flex 125 Plan(until exhausted)
Out-of-Pocket HRA Account(until exhausted)
Tax-Free Reimbursement
VEBA Funded HRA Account
Balance Carried Into Retirement
$1,500/$3,000 Deductible
Up to $2,500
$1,200/$2,400
CONFIDENTIALCopyright © 2012
Postemployment Claims & ExpensesPostemployment Claims & Expenses
Payment
(Applied to Deductible & Out-of-Pocket)
Individual’s Responsibility
Retiree Medical –or– Medicare
VEBA Funded HRA Account
Tax-Free Reimbursement
Premium Costs
Retiree Medical PlanMedicare Part BMedicare Part DMedicare Supp
Long-Term CareDental PlanVision Plan
Claim
CONFIDENTIALCopyright © 2012
Genesis OneCard Debit CardGenesis OneCard Debit Card
• The Genesis OneCard is a debit card designed to give you easy access to your Medical Flexible Spending, Dependent Care, and HRA Accounts. – You may use the card for your everyday medical expenses.
• The card works just like a bank debit card, but there are three key differences:
1. Card use is limited to merchants and expenses deemed eligible by your plan.
2. You cannot use it at an ATM, or to obtain cash back when making a purchase.
3. You will not have a PIN with this card. When given the option between debit or credit at a merchant terminal, choose credit.
CONFIDENTIALCopyright © 2012
Genesis OneCard Auto-AdjudicationGenesis OneCard Auto-Adjudication
• Prescription and Medical Co-Pays will be auto-adjudicated for Brown County’s health plans.
• IIAS Compliant Merchants and advanced Debit Card technology allows us to match merchant MTC codes to co-pay amounts.
• Approximately 8 out of 10 debit card claims do not require receipt submission.
CONFIDENTIALCopyright © 2012
Online Tool KitOnline Tool Kit
Manage Investments
Manage Investments
Manage Claims
Manage Claims
CONFIDENTIALCopyright © 2012
Online Tool KitOnline Tool Kit
• Login at www.GenesisBenefits.net– click on “Participant Login”– Choose Login Type
• Look-Up Account Balances• File FSA, HRA, and VEBA Claims Online• Upload Receipts Online• Claim Status Information• Reimbursement History• Forms Library
CONFIDENTIALCopyright © 2012
Overview of Claim Submission OptionsOverview of Claim Submission Options
Claim Filing Options:1.Genesis OneCard Debit Card
2.Online Claim Filing
3.Paper Claim Form
Options to Submit Claim Documentation:1.Secure Receipt Upload
2.Genesis Secure Claims eFax: 866-450-1480
3.Email: Claims@GenesisBenefits.net
4.Postal Mail
CONFIDENTIALCopyright © 2012
Open EnrollmentOpen Enrollment
• FSA Open Enrollment FSA Open Enrollment runs from runs from October 29October 29thth
toto November 20 November 20thth • 2013 Plan Year: Starts January 1st, 2013
– Medical FSA Max Election: $2,500– Dependent Care FSA Max Election: $5,000
• Don’t forget to sign up for Direct Deposit Reimbursement! You may enter bank account information for direct deposit online during enrollment, or later using a paper form.
• No paperwork is needed for the HRA and VEBA enrollment