The document summarizes benefit plan renewals and changes for A.D. Farrow Co. associates. It includes:
- Reinstatement of a 401(k) employer matching contribution of up to 1.5% of pay.
- Renewal with Anthem as the health insurance provider, offering a traditional plan (OPTION 1) and a new HSA plan (OPTION 2) with lower premiums but higher deductibles.
- Open enrollment will take place from May 6-28, during which associates must enroll or re-enroll in benefits.
Presentation to show how a High Deductible Health Plan paired with an HRA or HSA can allow an employer to maintain medical benefits while savings 10% or more
Health insurance has a language all its own.
Understanding how your insurance plan works
is something every American needs to master.
These terms are important to know to get the
most out of your health care coverage.
Sunsure Insurance - 5 Lesser Known Affordable Supplemental Florida Blue Healt...Kriti Sarda
5 Lesser known hacks to supplement your health insurance. Enrolling in these plans doesn't cost much and gives you a safe financial cushion. Investing in Ancillary plans is a small but sound investment that you are making today for your family's wellbeing.
Learn how you can make your dollars go further and reduce your out-of-pocket costs for qualified health care expenses and insurance premiums, take more control over health care spending decisions and benefit from significant tax savings when enrolling in a Health Savings Account (HSA).
A brief description of how using an HSA in conjuction with a qualifed major medical HDHP can help control premiums and put you the consumer back in control of your healthcare dollars. Currently 9 million people enrolled in an HSA qualified plan.
Presentation to show how a High Deductible Health Plan paired with an HRA or HSA can allow an employer to maintain medical benefits while savings 10% or more
Health insurance has a language all its own.
Understanding how your insurance plan works
is something every American needs to master.
These terms are important to know to get the
most out of your health care coverage.
Sunsure Insurance - 5 Lesser Known Affordable Supplemental Florida Blue Healt...Kriti Sarda
5 Lesser known hacks to supplement your health insurance. Enrolling in these plans doesn't cost much and gives you a safe financial cushion. Investing in Ancillary plans is a small but sound investment that you are making today for your family's wellbeing.
Learn how you can make your dollars go further and reduce your out-of-pocket costs for qualified health care expenses and insurance premiums, take more control over health care spending decisions and benefit from significant tax savings when enrolling in a Health Savings Account (HSA).
A brief description of how using an HSA in conjuction with a qualifed major medical HDHP can help control premiums and put you the consumer back in control of your healthcare dollars. Currently 9 million people enrolled in an HSA qualified plan.
HSA vs FSA - 5 Reasons HSA's Will Replace FSA's HSA Coach
HSA's and FSA's remain the primary tax-free savings choice for healthcare consumers. Yet the two types of accounts couldn't be more different. Here we explore what HSA's will increasingly grow in popularity compared with FSA's (hint - FSA's cannot keep up with the underlying growth in healthcare costs.)
I025 - Writing - Feature - Your Federal Employee Health Benefits Options - Mc...Norfolk Naval Shipyard
I025 - Submission for Russell Egnor Media Awards - Writing - Feature - Brian Mcneal, NNSY Public Affairs Specialist - Your Federal Employee Health Benefit Options: Don't Just Check The Box - Released 11/1/14
How does your company’s healthcare benefits compare to your competitors and other employers who want to recruit the best talent in Indiana? Healthcare actuary Randy Gomez will review the results of the 2011 Indiana Healthcare Benefits Survey and give employers across industry, workforce size and regional geography a snapshot of trends in healthcare benefits. Attendees will see what has shifted in benefits for 2011 from prior years and get a better understanding of how to build a competitive benefit that is still cost effective.
HSA vs FSA - 5 Reasons HSA's Will Replace FSA's HSA Coach
HSA's and FSA's remain the primary tax-free savings choice for healthcare consumers. Yet the two types of accounts couldn't be more different. Here we explore what HSA's will increasingly grow in popularity compared with FSA's (hint - FSA's cannot keep up with the underlying growth in healthcare costs.)
I025 - Writing - Feature - Your Federal Employee Health Benefits Options - Mc...Norfolk Naval Shipyard
I025 - Submission for Russell Egnor Media Awards - Writing - Feature - Brian Mcneal, NNSY Public Affairs Specialist - Your Federal Employee Health Benefit Options: Don't Just Check The Box - Released 11/1/14
How does your company’s healthcare benefits compare to your competitors and other employers who want to recruit the best talent in Indiana? Healthcare actuary Randy Gomez will review the results of the 2011 Indiana Healthcare Benefits Survey and give employers across industry, workforce size and regional geography a snapshot of trends in healthcare benefits. Attendees will see what has shifted in benefits for 2011 from prior years and get a better understanding of how to build a competitive benefit that is still cost effective.
This document will explain how a comprehensive wellness program works and how much money you should budget in order to have one. If you are ready to kick start health in your organization this is the right place to start.
Affordable Health Plans: How to Choose the Right PlanDonald Nasca
My experience signing up my sister and my son's was worthy of sharing. I found the plans are affordable for people earning the national average or less. I also found the obstacles are not the government or President Obama, but the insurance companies. They sell you a plan and train their staff to act stupid when it's time to pay the discounted rate.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
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Improving profitability for small businessBen Wann
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3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
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Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
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LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
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𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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3. 401(k) Employer Match Reinstatement Effective May 1, the A.D. Farrow Co. Profit Sharing plan will again include an employer contribution A 25% match of a participating associate's contribution, up to 6% (i.e. the maximum ER contribution will be 1.5%) 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%. In effect, your money will earn 25% on the first day!
4. Health Insurance Renewal 2010 Remain with Anthem as our long-term partner Offer two types of plans through Anthem: OPTION 1 - Traditional Blue Access 4.0 OPTION 2 - Lumenos HSA (Health Savings Account)
6. Traditional Plan Comparison $25 Office Visit Co-Pay Prescription - $15/$50/50% $500 Ind / $1,500 Family Out of Pocket $3,000/$6,000 $150/20% Emergency Room $50 Urgent Care $20 office visit copay Prescription - $10/$30/$60 $1,000 Ind / $2,000 Family Out of Pocket $4,000/$8,000 $200/20% Emergency Room* $75/Ded, 20% Urgent Care* Generic drugs unless DAW* *Follows industry trends. Anthem Traditional 2009-2010 OPTION 1:Anthem Traditional 2010-2011
7. Per Pay Deduction Comparison Class 4 – All Other Associates $46.04 Associate Only $93.32 Associate + Spouse $73.19 Associate + Child $128.40 Family Class 4 – All Other Associates $47.50 Associate Only $96.28 Associate + Spouse $75.51 Associate + Child $132.47 Family Classes 1-3 not shown here (Motorcycle Sales and Managers ) also increase just 3.2% Anthem Traditional 2009-2010 OPTION 1:Anthem Traditional 2010-2011
8. Anthem Lumenos HSA (Health Savings Account) OPTION TWO “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.”
9. Introduction of the HSA Health Savings Account (HSA) Good for… …those with single coverage who only go to the doctor a few times a year for preventative visits and have few to no prescriptions; …those who anticipate reaching/exceeding the individual or family deductible due to known medical expenses; …those who want to have an opportunity to save tax free for future medical expenses.
10. Trad vs HSA Plan Comparison $20 Office Visit Co-Pay Prescription - $10/$30/$60 $1,000 Ind / $2,000 Family Out of Pocket $4,000/$8,000 $200/20% Emergency Room $75/20% Urgent Care Preventative visits covered 100%Non Prev. – 100% after Ded. Prescription – Medical Ded. applies, then $10/$30/$50 $2,500 Ind / $5,000 Fam Out of Pocket $3,000/$6,000 100% after Deductible 100% after Deductible OPTION 1:Anthem Traditional 2010-2011 OPTION 2:Anthem Lumenos HSA 2010-2011
11. Per Pay Deduction Comparison Class 4 – All Other Associates $47.50 Associate Only $96.28 Associate + Spouse $75.51 Associate + Child $132.47 Family Class 4 – All Other Associates $40.83 Associate Only $82.75 Associate + Spouse $64.90 Associate + Child $113.86 Family Single Coverage - $173 savings/yr Classes 1-3 not shown here (Motorcycle Sales and Managers ) also save 11%. OPTION 1:Anthem Traditional 2010-2011 OPTION 2:Anthem Lumenos HSA 2010-2011
26. How Does an HSA Work? Allows you to save for future health care expenses (including retirement) by investing your money in various investment platforms It is an interest bearing account that rolls over year to year 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.
27. Open Enrollment Begins May 6, 2010 Ends May 28, 2010 All full time associates are eligible All those enrolling must fill out new forms, even if you already have coverage
28. Questions Resources are available to you: Marisa, x1303 or (614) 499-3595 Kelly, x1210 McGohan Brabender Kim Collier, Account Manager – (937) 395-4586 If you are interested in the HSA, please make an appt with Kelly or Marisa some time next week, by Friday, May 14
Editor's Notes
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