Faculty Senate Benefits Committee Report

November 4th 2014

Committee Members

B. Harrison ChairS. SessionsB. BorchersR. Aitbayev

A. Hewitt Retiree’s repB. M. Wilks Staff rep

Changes to Current PlanPlan 1 Removed• Current users automatically enrolled in Plan2. If prefer Plan 3, will need to sign

up for it.

8% increase in both remaining plans

Max out of Pocket increased to Federal Max • $6,600 Individual $13,200 Family

• Separate out of pocket Max for prescription Drug co-pays

• $3,000 Individual $6,000 Family• Prescription Drug co-pays count towards out of pocket expenses

Changes to the NMT v Employee contribution

Salary Bracket NMT Employee$15,000-$19,999 80% (70%) 20% (30%)

$20,000-$24,999 70% (65%) 30% (35%)

$25,000 and greater 60% (60%) 40% (40%)

Wellness Health Evaluations

Tomorrow Nov 5th Last day to register for a blood test at NM Tech

Nov 12th to register for test at Tech Building in Albuquerque

If you can’t make these times you can go online to Meritain (myinteractivehealth.com) and schedule a test at an approved lab.Deadline is Nov 21 and the test no later than Dec 5th

Participation results in $250.00 credit per person on the plan deductible for calendar year

Benefit Time Room Legal Shield                  9:00-9:30 a.m. B

New Mexico Educational Retirement  9:30-10:30 a.m. 

 B

Wells Fargo 10:30-11:00 a.m.  

Corporate Health Resources 11:00-11:30 a.m.  

Valic (403b Supplemental Retirement)   11:30-12:00 noon 

B

Nationwide (457b Supplemental Retirement) 

1:00-1:30 p.m. B

TIAA-CREF (403b Supplemental Retirement)

1:30-2:00 p.m. B

Lincoln Financial (Long Term Disability)  2:00-2:30 p.m. B

Social Security     2:30-4:00 p.m. B

 Washington Federal 4:00-4:30 p.m. B

New Mexico Educators Federal Credit Union 4:30-5:00p.m.

 

Other Health Care Benefit Providers attending Benefits Fair