Benefits Eligibility & How to Enroll

You are eligible to enroll in the benefits program if you are a regular full-time employee who works 30 hours or more per week. When you enroll in the benefits program you may also cover your eligible dependents. These dependents include your legal spouse, and your child(ren) up to age 26 regardless of their student status, marital status, residence or financial dependence on you, and an unmarried child age 26 or older if they are disabled and incapable of self-support. 


New hires or employees newly eligible for benefits must obtain login information to access the KPay site from HR. Coverage will begin on the first day of the month following date of hire. For those hired on the first day of a month, coverage will begin on your date of hire. All elections need to be made within 30 days.


You can access the KPay site here.


Once elections are made, they can only be changed if there is a qualifying event such as marriage, birth, adoption, or a change in eligibility. Contact HR for more information on qualifying events.


You can listen to the recorded presentation by clicking on the red button below. Please note that a minor change occurred to the medical benefits after this presentation was recorded. All benefits are updated in the Benefits Guide, Benefit Plan Contributions, and PowerPoint tiles below.

2022 Open Enrollment Presentation

2022 Open Enrollment Presentation

2022 Benefit Plan Contributions

2022 Benefit Plan Contributions

2022 Benefit Guide

2022 Benefit Guide

Required Notices

In this section you will find a collection of benefit notices that we are required by law to provide to you each year.


  • FMLA Notice
  • IRS Code Section 125
  • Marketplace Notice
  • Women's Health and Cancer Rights Act
  • Special Enrollment Notice
  • Michelle's Law
  • Genetic Information Non-Discrimination Act (GINA)
  • USERRA
  • Newborns' and Mothers' Health Protection Act
  • Medicare Part D
  • General COBRA Notice
  • HIPAA Notice if Special Enrollment Rights
  • HIPAA Notices of Privacy Practices
  • Premium Assistance Under Medicaid and Children's Health Insurance Program (CHIP)
  • MNSure Exchange Notice
  • BCBS Non-Discrimination Notice


2022 Annual Required Notices

2022 Annual Required Notices

BCBS Non-Discrimination Notice

BCBS Non-Discrimination Notice

Medical

Deerwood Bank is offering two HSA qualified plans with BlueCross BlueShield of MN. There are two provider networks to choose from, Aware and High Value. The Aware Network is the largest and includes providers like Mayo Clinic. The High Value Network is lower cost but has fewer providers than the Aware Network.


Important notes for 2022;

  • The Access Network with BCBS is being discontinued. All members currently enrolled in the Access network will need to actively choose either the Aware or High Value network for 2022.


  • Telehealth: through the federal Public Health Emergency (PHE) related to the COVID-19 pandemic, the IRS created an exception that allows health savings account dollars to be used to pay for certain services, including e-visits/telephone consults, before the deductible applies. Once the federal PHE has expired the deductible will apply for e-visits/telephone consults, unless the IRS issues further guidance.


You can search the networks here. Creating a personal login and entering your Group Number will help BCBS customize the search specific to your plan.


$3,000 Deductible 100% H.S.A. Plan

The first plan offers a deductible of $3,000/employee and $6,000/family, and is the same plan that has been offered in the past. All services, including prescriptions, are subject to the deductible first and then covered at 100% thereafter for in-network benefits. Preventive care is covered at 100% and not subject to the deductible. Members enrolled in this deductible option have the choice of either the Aware or the High Value network.


$3,000 Deductible 25% H.S.A. Plan

This option offers a deductible of $3,000/employee and $6,000/family, but with a member coinsurance of 25% after deductible to a $4,500/employee and $9,000/family out of pocket maximum. All services, including prescriptions, are subject to the deductible first and then subject to coinsurance up to the out-of-pocket for in-network benefits. Preventive care is covered at 100% and not subject to the deductible. Members enrolled in this deductible option have the choice of either the Aware or the High Value network.

Aware Network Information

Aware Network Information

High Value Network Information

High Value Network Information

Doctor on Demand

Doctor on Demand

Doctor on Demand Video

Doctor on Demand Video

Sharecare Flyer

Sharecare Flyer

BCBS & Sharecare App Demo

BCBS & Sharecare App Demo

Learn to Live Flyer

Learn to Live Flyer

Omada Program Flyer

Omada Program Flyer

Quitting Tobacco

Quitting Tobacco

Aware HSA $3,000-100% SBC

Aware HSA $3,000-100% SBC

High Value HSA $3,000-100% SBC

High Value HSA $3,000-100% SBC

Aware HSA $3,000-25% SBC

Aware HSA $3,000-25% SBC

High Value HSA $3,000-25% SBC

High Value HSA $3,000-25% SBC

BCBS Member Resource Guide

BCBS Member Resource Guide

Health Savings Account

If you participate in a qualified high deductible health plan (HDHP), such as the one offered by Deerwood Bank, you may be eligible to establish and contribute to a Health Savings Account (HSA). An HSA is a tax-favored account paired with an HDHP that is used to pay for qualifying medical, dental, and vision expenses tax-free. The money can be used to pay claims for the employee, and their spouse and/or dependents even if they are not enrolled on the same medical plan as the employee. In order to make contributions to the Deerwood Bank HSA, you must be enrolled in the Deerwood Bank medical plan.


The IRS contribution limits for 2022 are $3,650 for employee only and $7,300 for family. For those age 55 and over, an additional $1,000 catch-up contribution can be made each year.

HSA Payroll Contribution Form

HSA Payroll Contribution Form

Flexible Spending Account

The Medical and Dependent Care Flexible Spending Account (FSA) allows you to set aside pre-tax dollars to pay for eligible expenses. By contributing to one or both of the Flexible Spending Accounts you reduce your taxable income so you pay less in taxes – which saves you money.

 

Each year you must decide if you want to contribute to the Medical and/or Dependent Care FSA. The elections you make during open enrollment are your elections for the entire plan year. You may change them only if you have a qualifying life event and the change request must be consistent with the event. Remember to be conservative in your election amount - unused funds in excess of the allowable rollover amount are forfeited.

 

For 2022, you may contribute as follows:

  • Medical FSA – up to $2,750. New annual rollover up to $550 has been added beginning with 2020 plan year. (If you contribute to an HSA, your Medical FSA is limited to dental & vision only)
  • Dependent Care FSA – up to $5,000 ($2,500 if married and filing income taxes separately)
Eligible Expense List

Eligible Expense List

Eligible Expense Documentation

Eligible Expense Documentation

Getting Reimbursed for Dependent Care Expenses

Getting Reimbursed for Dependent Care Expenses

Adoption Benefit

Adoption Benefit

An Adoption Assistance Program is an employer-sponsored spending account much like the Flexible Spending Account. It allows employees to set aside pre-tax dollars to help with all eligible expenses related to adoptions. Funds are deducted pre-tax from your paycheck and deposited into an account. Each year you can decide how much you'd like to contribute up to the annual maximum allowable cap of $14,440 per child.

Introduction to Adoption Assistance Program

Introduction to Adoption Assistance Program

Dental

Deerwood Bank offers a comprehensive dental plan through Delta Dental’s largest network, called the Premier Network. If you choose to seek care outside of Delta’s Premier network, you may end up paying more out of your pocket. Below is a summary of what the plan pays for in-network dental services. Enrolling in dental coverage is not an annual election option, it is available upon hire or if a life event occurs. Employees may drop dependents from coverage during open enrollment or upon a life event.


New for 2022; the annual maximum will increase from $1,000 to $1,500 per person.

Dental Certificate

Dental Certificate

Dental Summary

Dental Summary

2021 Summary Annual Report - Dental

2021 Summary Annual Report - Dental

How to Find a Dentist

How to Find a Dentist

Vision

The VSP vision plan helps you pay for eye exams, frames and lenses, and contact lenses. You have the freedom to see any provider but will receive the highest level of benefits if your provider participates in the VSP network. Refer to the attached summary for details on the plan.


New for 2022; the annual frame allowance will increase from $150 to $200 per person.

Vision Benefit Summary

Vision Benefit Summary

Life and Disability

Deerwood Bank provides a Basic Life and Accidental Death & Dismemberment (AD&D) plan for all full-time employees in the amount of $25,000.


Employees have the option to purchase additional voluntary life and AD&D, paid for through payroll deduction, for themselves, spouse, and dependent children. Employees may purchase coverage in increments of $10,000 up to 5x annual earnings to a maximum of $500,000. Spouse coverage is an additional $10,000, and children an additional $5,000 (regardless of the number of children).


Starting in 2022, as a new employee you can purchase up to $200,000 without providing Evidence of Insurability. If you are not a new employee but already have an amount of voluntary life coverage up to $150,000, you have the option to increase your insurance amount by $10,000 per year without having to complete health questions. All other increases in insurance will require evidence of insurability.


Deerwood Bank also provides a Long Term Disability (LTD) plan for full-time employees. LTD is designed to replace a portion of your monthly income should you become disabled and can no longer perform your job. Benefits would begin after 90 days of disability. The plan pays 60% of your pre-disability earnings up to $7,500 per month. Pre-existing condition limitations may apply.

Life Certificate

Life Certificate

2021 Summary of Annual Report - Life

2021 Summary of Annual Report - Life

LTD Certificate

LTD Certificate

2021 Summary Annual Report - LTD

2021 Summary Annual Report - LTD

401(k) Retirement

Deerwood Bank offers a 401(k) plan through Ascensus. You may contribute a portion of your salary up to $20,500 to the Roth or Traditional 401(k) retirement savings plan. For those age 50 and over, an additional $6,500 may be contributed.


Once you have completed 6 months of service and 1,000 hours of employment, Deerwood Bank has a discretionary match of 75% of the first $1,000 per year that you contribute and 33% on the next 6%. Deerwood's contribution always goes to the Traditional 401(k) even if you have chosen the Roth.


Employee contributions are always 100% vested. Deerwood's contributions follow a vesting schedule that can be found in the Benefit Guide.


Contact Information is as follows:

WEB: carlsoncap.com/services/401k

EMAIL: retirement@carlsoncap.com

PHONE: 888.388.401k (4015)

SCHEDULE: ccm.link/401kreview

CONTACTS: Susan Desrosier, Cami Peterson

Summary Plan Description

Summary Plan Description

Participant Disclosure 2021

Participant Disclosure 2021

Participant Disclosure Change 2022

Participant Disclosure Change 2022

Match Calculator

Match Calculator

Mobile Connection Flyer

Mobile Connection Flyer

Financial Wellness Worksheets

Financial Wellness Worksheets

GoalPath

GoalPath

This is a comprehensive digital financial planning experience. A person completes an assessment, links their personal accounts and can then take actions to establish goals and track financial measures towards success. It allows access to financial experts who will help guide and develop a plan that works for you. Allows you to aggregate all your accounts and see your finances all in one place.

GoalPath Flyer

GoalPath Flyer

How to Get Started

How to Get Started

Contact Us

Andrea Bedard

HR Manager

Phone: (218) 316-3409

Dedicated Fax: (218) 394-3190