Table of Content
- Header
-
WELCOME
- WELCOME
- SELF SERVICE PORTAL
- BENEFITS ELIGIBILITY
- MEDICAL
- MEDICARE RESOURCES
- HSA
- FSA
- WELLNESS PROGRAMS
- PROCARE HEALTHSPOT
- DEACONESS EAP
- DENTAL
- VISION
- LIFE INSURANCE
- CRITICAL ILLNESS
- HOSPITAL INDEMNITY
- 401K
- HOLIDAYS
- CONTACTS
- ANNUAL NOTICES
- REMINDERS
- VALUE ADDED BENEFITS
- Footer
WELCOME
As 2022 winds down, it is time to review your current elected benefits and determine whether you wish to make changes for 2023. During the open enrollment window, you may add, delete, or change benefits without a qualifying life event. Any changes you make during open enrollment will be effective 1/1/2023.
Brief Overview for 2023:
· UMR/United Healthcare Medical – there are no benefit plan design changes for plan year 2023 for the PPO Plan; however, there are minimal changes in the High Deductible Health Plan as required by IRS regulations. Refer to medical tab for detailed information. New premiums for both plans go into effect on 1/1/23. We encourage you to review who you are covering by logging into ADP and looking under Benefits and Enrollments. As a reminder, spouses are only eligible to be covered if they do not have coverage through their own employer. Children can be covered through the end of the month they turn 26 even if they have their own coverage available. If you are not making changes to your covered dependents or plan type, you do not have to take action. If changes occur through the calendar year, it is your responsibility to contact HR as soon as possible.
· Paramount Dental – there are no benefit plan design changes for 2023; however new premiums are effective 1/1/23 as shown under the dental tab. We encourage you to review who you are covering on the Red Spot Dental Plan by logging into ADP and looking under Benefits and Enrollments. As a reminder, spouses can be covered on this plan even if they have other coverage available through their own employer. Dependent children can be covered through the end of the month they turn 24. If you are not making changes to your covered dependents, you do not have to take any action.
- Flexible Spending Account (FSA) - to participate in the 2023 FSA for either medical or dependent child care expenses, you must enroll online with American Benefits Group during the enrollment window shown above. Unlike the other benefits, this one must be elected on an annual basis. Go to the FSA tab to review detailed information and to enroll online.
· Voluntary Vision (VSP), Voluntary life, Critical Illness, and Hospital Indemnity - review detailed information about these plans by clicking on the tab for each relevant benefit. If you are currently enrolled and do not wish to make changes, you do not need to take action.
· Enrollment forms – Do not complete forms unless you are adding or removing coverage for yourself and/or a dependent. All enrollment forms are listed under the relevant tabs for each benefit.
· Important annual notices – Please click on the tab for annual notices to review relevant information related to your benefits eligibility.
· Qualifying Life Event – the benefit elections you make during annual open enrollment remain in effect for the entire year of 2023 unless you experience a qualifying life event such as those shown below. If a qualifying life event occurs, you must notify HR within 31 days of the event to make the change.
o birth/adoption
o marriage or divorce
o change in your dependent’s eligibility for benefits such as change in your spouse’s or a dependent’s employment
o You, your dependent, or your spouse become enrolled in Medicare or Medicaid
o Your dependent ceases to satisfy the dependent age eligibility requirements
SELF SERVICE PORTAL
EMPLOYEE SELF SERVICE PORTAL:
The ADP Portal provides 24-hour access—from work, home, or mobile device—to a wide range of HR resources, including W-2 information, paycheck history, summary plan descriptions, provider websites and much more!
To access the Self-Service Portal, visit https://workforcenow.adp.com (link below)
User ID- first initial last name @redspot [example- jsmith@redspot]
Password- personal password created at registration
BENEFITS ELIGIBILITY
MEDICAL
Red Spot offers 2 medical plans, a PPO and a High Deductible Health Plan (HDHP) with Health Savings Account. Both plans are administered by UMR and include a vast regional/national network of doctors/medical facilities through the United Healthcare Choice Plus Network with Optum RX providing the role of pharmacy benefit manager. Preventive care services are covered at 100% on both plans. For more detailed information, please click on the relevant documents below or login to www.umr.com using your user ID and password.
All full time, active employees, dependents, and eligible spouses may enroll in coverage. Eligible dependent children are covered through the end of the month of their 26th birthday. A spouse is eligible for Red Spot coverage only if they are not eligible for their own employer-sponsored plan.
Red Spot provides an incentive in the form of a discounted premium for completing an annual health screening during an announced time. For 2023 premiums, the timeframe was October 3 through December 12, 2022. Completing a screening during that period will allow employees (and eligible spouses) to pay a discounted medical premium for all of 2023.
With your plan you also have access to:
- Real Appeal: Real Appeal is a proven online weight loss program that’s part of Red Spot’s medical plan benefits. With personalized guidance from an online coach, meal and activity tracking, and virtual group sessions, you get tools and resources to create healthy change. This program is for employees and spouses, as well as dependent children eighteen and older, who are covered under the Red Spot Medical Plan and is FREE of charge. To be eligible for the program, you would have a BMI of 30 or higher or a lower BMI with one or more of the following health risk factors: high cholesterol, diabetes or pre-diabetes, tobacco user, or high blood pressure. Those who enroll in the program receive a “success” kit a few weeks after enrollment, which includes a food scale, regular scale, workout videos (cardio, flexibility, strength, and abdominal muscles), cookbook, and stretch bands. To find out more, log into www.umr.com and click on Health Center and then the Real Appeal icon.
- Plan Advisors: UMR plan advisors are available weekdays from 7 a.m. to 7 p.m. Central time. During off hours or weekends a representative can assist you with claims or benefits questions, and your plan advisor can follow up during the regular business hours.
- Compare Quality Cost: Resource to compare quality providers and costs.
- UMR Network Labs - Any preventive or diagnostic blood work received through free standing facilities are free on the PPO plan and reduced cost for High Deductible Health Plan.
- Telehealth via OC24 Health
See resources below for more information.
2023 Rates
PPO
HDHP
MEDICARE RESOURCES
In our continued efforts to bring innovative solutions to your evolving health care needs, we are excited to share a program called SmartConnect, an exclusive service from SmartMatch Insurance Agency. This program is a free Medicare education and enrollment resource. It is a great for those who are considering retirement and feel overwhelmed by the complexities of Medicare, or for those who are currently Medicare-eligible or will be soon. The only cost an employee will see is when they (or perhaps a spouse) enroll in a plan; there are no hidden fees or extra costs.
We have partnered with SmartConnect to provide all employees year-round access to free Medicare Resources, personalized guidance, and enrollment services. SmartConnect makes the transition to Medicare easier than ever by offering free Medicare resources and one-on-one consultations with licensed insurance agents in all 50 states. This service is beneficial to anyone 64 ½ or older (or otherwise eligible for Medicare), including your family members, neighbors, and friends. Feel free to share this email.
How does it work?
· Explore SmartConnect’s Benefits GPS link shown below to access Medicare resources and compare options to get started or call directly at 855-248-1648.
· Learn more about Medicare from a trust industry professional.
· Understand what affects your health care costs and coverage options.
· Compare your current health coverage through Red Spot coverage or another plan to multiple Medicare options.
· If you find a Medicare plan that meets your needs, SmartConnect helps you enroll immediately.
Click on any of the documents below to find out how SmartConnect might help you. Or, give them a call at 855-248-1648 Monday-Friday from 7:30 am – 5 pm Central Time.
HSA
For 2023, Red Spot funds employee Health Savings Accounts (HSAs) at $750 for employee only tier and $1,500 for all other tiers. These amounts are pro-rated for new hires and those changing tiers during the year. Funding for 2024 will be announced in late 2023. Eligible employees can set up their own HSA through their own bank, Fidelity (Red Spot’s 401k administrator) or through First Federal. All HSA accounts must be set up by no later than November 1, 2023, or the company contribution will be forfeited.
Some employees will not be eligible to contribute or receive HSA contributions due to IRS regulations. Such examples include, but are not limited to:
1. Being enrolled in Medicare Part A or B
2. Being enrolled in TriCare
3. Having accessed VA benefits in the last 90 days
4. Having other “first dollar” coverage such as being a covered dependent on a spouse’s PPO plan
5. Being enrolled in an FSA for medical reimbursement
In addition to the company contribution, eligible employees may make pre-tax contributions into their HSA accounts through payroll deduction; please refer to the Red Spot HSA Payroll Deferral Form shown below if you wish to change your deferral amount. It is each employee’s responsibility to ensure they do not contribute more than the 2023 annual IRS HSA contribution limit of $3,850 for self-only coverage and $7,750 for family coverage. (Employee/Child(ren), Employee/Spouse, and Employee/Family would all meet the definition of family coverage). A catch-up contribution of up to $1,000 can be made during the year by HSA-eligible participants who will turn 55 by the end of 2023. Please subtract the Red Spot funding from the annual contribution limit when determining your remaining contribution.
HSA contribution reminders:
· Married couples with HSA-eligible family coverage will share one family HSA contribution limit of $7,750 in 2023. If both spouses have eligible self-only coverage, each spouse may contribute up to $3,850 in separate accounts.
· If both spouses with family coverage are aged 55+, they must have 2 HSA accounts in separate names if they each want to contribute an additional $1,000 catch-up contribution.
· If only one spouse is 55 or older but the younger spouse contributes the full family contribution limit to the HSA in his or her name, the older spouse must open a separate account to make the additional $1,000 catch up contribution.
· Account holders who exceed the contribution limit are subject to an annual 6 percent excise penalty on the excess amount unless it is withdrawn from the HSA before the tax deadline for that year.
· If you have a child who is no longer a tax dependent, you can cover them on your insurance up to age 26 and you may be eligible to receive the family health savings contribution from Red Spot; however, IRS regulations may prevent you from utilizing health savings contributions to pay for their medical expenses. In this instance, the child would need to set up their own HSA to obtain the tax benefits. Refer to your tax advisor if you have questions concerning your personal tax situation.
A Health Savings Account (HSA) is a tax-free savings account owned by you, 100% vested from day one, and let's you build up savings for future needs. The funds may be used to pay for qualifying healthcare expenses not covered by insurance or any other plan for yourself, your spouse, or tax dependents. You decide how much you would like to contribute, when and how to spend the money on eligible expenses, and how to invest the balance.
FSA
The FSA Plan is administered through American Benefits Group and allows employees to save money by using pre-tax dollars to pay for certain health care and dependent care expenses. By participating in a Flex Plan, employees will not pay State or Federal income tax or Social Security on their elections, AND if health care expenses are elected the entire annual election is available to the employee on January 1 of the plan year. The downside of an FSA for medical reimbursement is the IRS “use it or lose it rule”, so it is important to try to estimate your expenses carefully. Red Spot’s health FSA includes a 2-month grace period to incur expenses for the prior year if submitted within the appropriate timeframe. For the 2022 plan year, you can incur expenses through the end of February 2023 and be reimbursed if submitted to ABG by March 31, 2023.
The annual health FSA Cap for 2023 increased to $3,050 from $2,850.
The annual Dependent Child Care FSA Cap remains unchanged for 2023 at $2,500 if married and filing separately and $5,000 if married filing jointly or filing as single/head of household.
WELLNESS PROGRAMS
As a Red Spot Employee, you have access to the following wellness programs regardless of medical plan participation:
- Red Spot has teamed up with UMR to offer a health and wellness program to help you recognize and achieve your personal goals. Your participation is voluntary, and all resources are available to you at NO COST! We have customized a wellness program that will reward you for hitting key milestones and completing quarterly challenges. This program will be offered to all employees, spouses, and those that are not on the medical plan that wish to participate. Employees and Spouses may earn a reloadable reward card (Mastercard) for completing quarterly challenges.
- Instructions to sign up are below, select the appropriate document to get started (enrolled in medical vs not enrolled in medical).
- Red Spot has teamed up with ProCare to provide:
- · Blood Pressure Checks at Work for employees – these will be available every other week on Thursdays and will take place in the Operations office area as well as the Research Building.
All details are linked below.
PROCARE HEALTHSPOT
Employees, dependent children, and spouses can also receive medical care, lab work, and generic prescriptions at no cost at ProCare HealthSpot on-site and near-site medical clinics. Refer to the ProCare Welcome Guide for detailed information on available locations and hours. Enrollment in a Red Spot Medical Plan is not required for care. Children who are living at home and considered to be a dependent, as defined by the IRS, are eligible to use the clinic through the end of the month of their 26th birthday.
DEACONESS EAP
The employee assistance program (EAP) is available for employees and their dependents living at the same address. The EAP is provided by Red Spot at no cost to employees and is administered by Deaconess Concern. The EAP can assist with marriage and family issues, childcare and elder care services, stress/anxiety, alcohol or drug abuse, workplace conflict, legal and financial matters, and more.
DENTAL
Dental Coverage is administered by Paramount Dental (HRI). An employee contribution is required via payroll deduction based on selected level of coverage.
Coverage Levels
Coverage Overview
- 100% coverage on most preventive services
- 50% coverage on most procedural services
- $1,200 annual maximum per covered individual
- Up to 50% Child Ortho with $1,200 lifetime max (up to age 24)
VISION
Voluntary vision coverage is available to all employees and their spouses/dependents and is administered by Sun Life through the VSP Vision Care Signature Network.
Coverage Levels and Semi-monthly Rates:
Brief plan details are included below.
*If you are covered under the Red Spot Medical Plan (PPO or HDHP administered through UMR) and wish to utilize your annual preventive care eye exam with no copayment, then you should utilize your UMR card. For other vision services, including purchase of materials such as glasses and contacts, you would then utilize your vision coverage through Sun Life/VSP. Please refer to Vision insurance schedule for more detailed information on this benefit.
LIFE INSURANCE
Sun Life Financial
Life insurance is an important part of your financial security. Life insurance helps protect your family from financial risk and sudden loss of income in the event of your death. AD&D insurance is equal to your Life benefit in the event of your death being a result of an accident, and may also pay benefits for certain injuries sustained.
Company-paid life insurance is available to all full-time employees. Coverage for Bargaining Unit employees is $60,000 while coverage for all other full-time employees is 2 x annual salary. All covered employees receive double indemnity for AD&D. Life insurance is subject to age reduction at age 65 and 70.
Voluntary Life Open Enrollment for 2023.
- For those currently enrolled, you do not have to re-enroll for 2023; however, it is important to review whom you are covering. Children are eligible to be covered up to the month of their 26th birthday but must be financially dependent upon you. Please contact HR if they are no longer eligible.
- For those who didn’t enroll in voluntary life as a new hire – please click on the information below to review plan information, including rates. Employees who did not elect coverage initially as a new hire are eligible to complete an enrollment application and request $10,000 with no Evidence of Insurability (EOI). Any amount greater than $10,000, or any election for spouses, will require Evidence of Insurability. Currently enrolled employees can increase their own election, or add/increase a spouse’s or child’s; however, they will need to provide evidence of insurability in all situations except for a child. Final eligibility is subject to Sun Life’s approval as well as guaranteed issue amounts for various age bands.
CRITICAL ILLNESS
All full-time employees who work at least 30 hours/week are eligible to enroll in coverage. This insurance protects employees and their families from financial loss by providing lump-sum benefits upon diagnosis of covered conditions. Benefit amounts range from $5,000 to $40,000 in increments of $5,000 for employees. If an employee elects coverage, they can also elect spousal coverage from $5,000 to $40,000 in increments of $5,000. Coverage can also be elected between $2,500 and $20,000 in increments of $2,500 for eligible children from birth to age 26. Final eligibility is subject to Sun Life’s approval. This plan also pays a $50 wellness screening benefit each year once an enrollee provides proof of an eligible health screening. Click on the below information to find out more about this benefit. Click on the below information to find out more about this benefit.
HOSPITAL INDEMNITY
All full-time employees who work at least 30 hours/week are eligible to enroll in coverage, which helps pay for unexpected expenses. Utilize this benefit to help cover related expenses like lost income, childcare, deductibles, and copays. The plan offers hospitalization benefits for you, your spouse, and/or your children. An eligible child is defined as your child from birth to age 26. Benefits are payable for hospital stays due to sickness, accidents, mental/nervous disorders, substance abuse, etc.
HI Table
401K
RED SPOT 401-K SAVINGS PLAN- EMPLOYEE DEFERRAL/ COMPANY MATCH:
The Red Spot 401(k) Savings Plan provides employees the opportunity to save for retirement. The Plan is administered by Fidelity Investment Company. Employees can elect to defer a percentage, through payroll deduction, from 1% to 60% of weekly wages on a pre-tax basis not to exceed the 2023 IRS maximum of $22,500 (up from $20,500 in 2022) for the year. The amount contributed may be increased or decreased at the beginning of each payroll period. Employees aged 50 or older (or will be turning 50 during 2023) may make an additional “catch-up” contribution of up to $7,500 (up from $6,500 in 2022). Catch up contributions are not eligible for a company matching contribution. Those wishing to take advantage of the catch-up contribution should contact HR so that the catch up contribution can be reflected within the payroll system. It is not assumed that anyone over the age of 50 will wish to participate in the catch-up election. Catch up contributions can be made on a pre-tax or after-tax basis.
All employee contributions to the Plan are fully and immediately vested while the employer contributions follow a vesting schedule. Please refer to the Summary Plan Description for investment funds and complete Plan information. The current company match is $.65 for each $1.00 deferred, to a maximum of 6% of eligible compensation. Once the employer match for 2023 has been determined, it will be announced in a separate communication.
401(k) SAVINGS- NON-ELECTIVE DEFINED CONTRIBUTION PLAN (Formally “Profit Sharing Plan”):
The Non-Elective Employer Contribution Plan is an additional retirement benefit for employees. On an annual basis, Red Spot may elect to make a discretionary non-elective contribution to the Plan. The contributions will be transferred to Fidelity Management Trust Company into employees’ personal accounts. The plan allows employees the ability to direct their own investments for retirement planning purposes. Eligibility requirements include completing six months of service. The eligibility period is then the 1st of the month after 6 months of service. A contribution is based upon the income received from that date of eligibility through the end of that plan year. In subsequent years, an employee must work at least 1,000 hours in each plan year and be actively employed as of the last day of the plan year (December 31st) unless due to death or retirement. Intern employees (part-time/temporary employees) are not eligible for this Plan unless they have worked 1,000 hours in a plan year. If a discretionary contribution is approved for a plan year, it is generally communicated after year-end close is complete. Deposits to employee Fidelity accounts generally occur in the April timeframe for the prior year.
ROTH 401(k) OPTION:
Employees have the option of contributing to a Roth 401(k) through the Red Spot 401(k) Savings Plan. Unlike a traditional pre-tax 401(k), the Roth 401(k) allows employees to contribute after-tax dollars and then withdraw tax-free dollars from their accounts when they retire (if an employee is at least 59 ½ years old and it has been five years since their first Roth 401(k) contribution). Employees have the choice of contributing to a traditional pre-tax 401(k) option, a Roth 401(k), or a combination of the two. Combined contributions to a Roth 401(k) and traditional pre-tax 401(k) cannot exceed the IRS annual limits (for 2023, deferral contribution limit of $22,500 and for those who are at least 50 by 12/31/23, an additional $7,500).
401k company match
Non-elective
HOLIDAYS
Holidays: Upon hire, Red Spot offers 12 paid holidays to include: New Year’s Day, MLK Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Friday after Thanksgiving, Christmas Eve, Christmas Day, New Year’s Eve, and a floating holiday.
CONTACTS
HR Contacts
Plan Contact
ANNUAL NOTICES
REMINDERS
Now is a great time to review your personal contact information within ADP and update as necessary. HR will receive notification that you have changed your information and will then know to update all of your elected benefits. It is recommended that you review the following areas now and at certain intervals throughout 2023.
1. Mailing address
2. Phone number
3. Email address
4. Beneficiaries
5. Dependents
6. Emergency contacts