a.d. farrow Co. & centennial ParkAssociate Benefits renewal <br />May 6, 2010<br />
401(k) Profit Sharing Plan<br />
401(k) Employer Match Reinstatement<br />Effective May 1, the A.D. Farrow Co. Profit Sharing plan will again include an em...
Health Insurance Renewal 2010<br />Remain with Anthem as our long-term partner<br />Offer two types of plans through Anthe...
Anthem Traditional Blue Access 4.0<br />OPTION ONE<br />
Traditional Plan Comparison<br />$25 Office Visit Co-Pay<br />Prescription - $15/$50/50%<br />$500 Ind / $1,500 Family<br ...
Per Pay Deduction Comparison<br />Class 4 – All Other Associates <br />$46.04   Associate Only<br />$93.32   Associate + S...
Anthem Lumenos HSA (Health Savings Account)<br />OPTION TWO<br />“A high-deductible health plan (HDHP) is a health care pl...
Introduction of the HSA<br />Health Savings Account (HSA)<br />Good for…<br />…those with single coverage who only go to t...
Trad vs HSA Plan Comparison<br />$20 Office Visit Co-Pay<br />Prescription - $10/$30/$60<br />$1,000 Ind / $2,000 Family<b...
Per Pay Deduction Comparison<br />Class 4 – All Other Associates <br />$47.50   Associate Only<br />$96.28   Associate + S...
Gary Unmarried Example<br />Meet Gary Unmarried – YEAR ONE<br />
Gary Unmarried Example<br />Meet Gary Unmarried – YEAR TWO<br />
Emily Family Example<br />Meet Emily Family – YEAR ONE<br />
Emily Family Example<br />Meet Emily Family – YEAR TWO<br />
How Does an HSA Work?<br />A high-deductible health plan (HDHP) is a health care plan that charges a lower premium and has...
There are no Co-Pays in this plan
Preventive Care covered in full
In network prescription drug and physician office visits are charged at carrier discounted rate</li></li></ul><li>How Does...
Well Child / Adult Care
Preventative Exam
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Health Care 2010 Presentation

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  • Eligibility 1 year of service and 1,000 hours, 21 years of ageEnrollment window first quarter after eligibility reachedPlease see Kelly Niemann to begin participatingJon Hlavac personal financial advisor
  • Like everything else…uncertainty clouds the processAnother great year for claims experienceGreat job by you, Kelly, Jim and KimAttractive Anthem renewalTwo competitive proposals Solicitation of input from associates re: networksAnalysis, discussion and decision
  • The Anthem Traditional Plan renewal first came in at 13.8%, then 5.0% and then 3.2%!Our group makes much greater use of Office Co-Pays and Prescription Drug plans. We know this because only 13 of our 44 members reached deductibles in plan year 2009-2010.Our Office Co-Pay will go down from $25 to $20Our Prescription Drug Plan will go down, as you can see, from…In order to do this and keep our premium increases under 5%, however, our Deductibles and Out of Pocket Maximums, go up – bringing us in line with other small employers nationwide.Our medical plan will move from Anthem 3.0 to Anthem 4.0. Industry trends have changed the way insurance companies do business. As such, they are encouraging stronger consumer driven behaviors of their members – including greater discretion in the use of Emergency Rooms and Urgent Care. Those visits will be more expensive. In addition, Prescription Drug plans have changed to include Mandatory Generics, except with an override from a physician indicating “Dispense as Written” (DAW).We are already pretty good at keeping our ER and Urgent Care use to a minimum and making good use of generics, but these changes may help us get even better.
  • Only 13 of our 44 members reached deductibles in plan year 2009-2010, so in effect our group makes much greater use of Office Co-Pays and Prescription Drug plans.So, to bring those costs down we had raised the Individual and Family deductibles and Out of Pocket maxes.Our Office Co-Pay will go down from $25 to $20Our Prescription Drug Plan will go down, as you can see, from…Our medical plan will move from Anthem 3.0 to Anthem 4.0. Industry trends have changed the way insurance companies do business. As such, they are encouraging stronger consumer driven behaviors of their members – including greater discretion in the use of Emergency Rooms and Urgent Care. Those visits will be more expensive. In addition, Prescription Drug plans have changed to include Mandatory Generics, except with an override from a physician indicating “Dispense as Written” (DAW).We are already pretty good at keeping our ER and Urgent Care use to a minimum and making good use of generics, but these changes may help us get even better.
  • Take Gary Unmarried – He’s single, no dependents. He might go to the doctor for a preventative visit once or twice a year, and has no prescriptions at all this year.
  • Take Gary Unmarried – He’s single, no dependents. He might go to the doctor for a preventative visit once or twice a year, and has no prescriptions at all this year.
  • Childbirth ClassesCOBRA premiumsContact lenses/solutionDeductible ExpensesDental ExpensesEye Exams/EyeglassesHospital or Emergency Room servicesLaboratory FeesMedicare PremiumsOrthodontiaPhysical TherapyLasik SurgeryVaccinationsSpeech trainingSmoking Cessation ProgramsWeight Loss ProgramsWheelchairs
  • Health Care 2010 Presentation

    1. 1. a.d. farrow Co. & centennial ParkAssociate Benefits renewal <br />May 6, 2010<br />
    2. 2. 401(k) Profit Sharing Plan<br />
    3. 3. 401(k) Employer Match Reinstatement<br />Effective May 1, the A.D. Farrow Co. Profit Sharing plan will again include an employer contribution<br />A 25% match of a participating associate's contribution, up to 6% (i.e. the maximum ER contribution will be 1.5%)<br />So put, for example, 6% of your pay into an account that grows until your retirement, and the company will add 1.5%, for a total of 7.5%.    <br />In effect, your money will earn 25% on the first day!<br />
    4. 4. Health Insurance Renewal 2010<br />Remain with Anthem as our long-term partner<br />Offer two types of plans through Anthem:<br />OPTION 1 - Traditional Blue Access 4.0<br />OPTION 2 - Lumenos HSA (Health Savings Account)<br />
    5. 5. Anthem Traditional Blue Access 4.0<br />OPTION ONE<br />
    6. 6. Traditional Plan Comparison<br />$25 Office Visit Co-Pay<br />Prescription - $15/$50/50%<br />$500 Ind / $1,500 Family<br />Out of Pocket $3,000/$6,000<br />$150/20% Emergency Room <br />$50 Urgent Care<br />$20 office visit copay<br />Prescription - $10/$30/$60<br />$1,000 Ind / $2,000 Family<br />Out of Pocket $4,000/$8,000<br />$200/20% Emergency Room*<br />$75/Ded, 20% Urgent Care*<br />Generic drugs unless DAW*<br /> *Follows industry trends. <br />Anthem Traditional 2009-2010<br />OPTION 1:Anthem Traditional 2010-2011<br />
    7. 7. Per Pay Deduction Comparison<br />Class 4 – All Other Associates <br />$46.04 Associate Only<br />$93.32 Associate + Spouse<br />$73.19 Associate + Child<br />$128.40 Family<br />Class 4 – All Other Associates<br />$47.50 Associate Only<br />$96.28 Associate + Spouse<br />$75.51 Associate + Child<br />$132.47 Family<br />Classes 1-3 not shown here (Motorcycle Sales and Managers ) also increase just 3.2%<br />Anthem Traditional 2009-2010<br />OPTION 1:Anthem Traditional 2010-2011<br />
    8. 8. Anthem Lumenos HSA (Health Savings Account)<br />OPTION TWO<br />“A high-deductible health plan (HDHP) is a health care plan that charges a lower premium and has a higher deductible than traditional health care plans.”<br />
    9. 9. Introduction of the HSA<br />Health Savings Account (HSA)<br />Good for…<br />…those with single coverage who only go to the doctor a few times a year for preventative visits and have few to no prescriptions;<br />…those who anticipate reaching/exceeding the individual or family deductible due to known medical expenses;<br />…those who want to have an opportunity to save tax free for future medical expenses.<br />
    10. 10. Trad vs HSA Plan Comparison<br />$20 Office Visit Co-Pay<br />Prescription - $10/$30/$60<br />$1,000 Ind / $2,000 Family<br />Out of Pocket $4,000/$8,000<br />$200/20% Emergency Room<br />$75/20% Urgent Care<br />Preventative visits covered 100%Non Prev. – 100% after Ded.<br />Prescription – Medical Ded. applies, then $10/$30/$50<br />$2,500 Ind / $5,000 Fam<br />Out of Pocket $3,000/$6,000<br />100% after Deductible<br />100% after Deductible<br />OPTION 1:Anthem Traditional 2010-2011<br />OPTION 2:Anthem Lumenos HSA 2010-2011<br />
    11. 11. Per Pay Deduction Comparison<br />Class 4 – All Other Associates <br />$47.50 Associate Only<br />$96.28 Associate + Spouse<br />$75.51 Associate + Child<br />$132.47 Family<br />Class 4 – All Other Associates<br />$40.83 Associate Only<br />$82.75 Associate + Spouse<br />$64.90 Associate + Child<br />$113.86 Family<br />Single Coverage - $173 savings/yr<br />Classes 1-3 not shown here (Motorcycle Sales and Managers ) also save 11%.<br />OPTION 1:Anthem Traditional 2010-2011<br />OPTION 2:Anthem Lumenos HSA 2010-2011<br />
    12. 12. Gary Unmarried Example<br />Meet Gary Unmarried – YEAR ONE<br />
    13. 13. Gary Unmarried Example<br />Meet Gary Unmarried – YEAR TWO<br />
    14. 14. Emily Family Example<br />Meet Emily Family – YEAR ONE<br />
    15. 15. Emily Family Example<br />Meet Emily Family – YEAR TWO<br />
    16. 16. How Does an HSA Work?<br />A high-deductible health plan (HDHP) is a health care plan that charges a lower premium and has a higher deductible than traditional health care plans<br /><ul><li>Deductible must be met before insurance pays. Then, insurance coverage is 100% (covered in full).
    17. 17. There are no Co-Pays in this plan
    18. 18. Preventive Care covered in full
    19. 19. In network prescription drug and physician office visits are charged at carrier discounted rate</li></li></ul><li>How Does an HSA Work?<br />Preventative Care – 100% Covered in Full<br />Some of the nationally recommended preventive services you’ll have coverage for include:<br /><ul><li>Immunizations
    20. 20. Well Child / Adult Care
    21. 21. Preventative Exam
    22. 22. Prostate Exam
    23. 23. GYN Exam, 1 per Plan Year
    24. 24. Mammogram
    25. 25. Pap Test, 1 per Plan Year</li></li></ul><li>How Does an HSA Work?<br />YOU own your account. Management of the account is your responsibility<br />Contributions to savings are made pre-tax from payroll, above and beyond your regular premium deduction<br />Use it to pay for qualified health care expenses on a tax free basis <br />The HSA can be funded and used to cover out-of-pocket costs that are not covered by or attributable to the medical plan deductible (e.g., dental, eye glasses, etc.)<br />
    26. 26. How Does an HSA Work?<br />Allows you to save for future health care expenses (including retirement) by investing your money in various investment platforms<br />It is an interest bearing account that rolls over year to year<br />2010 HSA limits are $3,050 for single, $6,150 for employee/child, employee/spouse and family with a catch-up provision of $1,000 for employees 55 and over.<br />
    27. 27. Open Enrollment<br />Begins May 6, 2010<br />Ends May 28, 2010<br />All full time associates are eligible<br />All those enrolling must fill out new forms, even if you already have coverage<br />
    28. 28. Questions<br />Resources are available to you:<br />Marisa, x1303 or (614) 499-3595<br />Kelly, x1210<br />McGohan Brabender<br />Kim Collier, Account Manager – (937) 395-4586<br />If you are interested in the HSA, please make an appt with Kelly or Marisa some time next week, by Friday, May 14<br />

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