Introduction
Open Enrollment is your opportunity to learn about the benefits available to you, review your current coverage and choose the best options for you and your family.
- If you'd like to change your existing coverage or make new elections, you must do so in the ADP enrollment portal by December 21st.
- Your current medical, dental and vision elections will carry forward to 2021 if you don't make a new election.
- To participate in a Flexible Spending Account in 2021, you must make an active election, even if you're already participating in 2020.
- IMPORTANT- You will get new member ID cards with a new group number and member ID number.
Remember, your elections will be locked in for the plan year once Open Enrollment closes, and you will not be able to make any changes to your coverage or dependents until the next Open Enrollment period, unless you experience a qualified life event.
Examples of a qualified life event include:
- Change in marital status (marriage, divorce, legal separation)
- Change in number of dependents (birth, adoption, death)
- Gain or loss of other coverage
- Change of custody, judgement, court order or decree requiring medical coverage including qualified Medical Child Support Order
Enrollment Resources
Review the 2021 Benefit Guide to understand your benefits options for 2021.
* this summary is for illustrative purposes only intended to provide general guidelines. Actual out of pocket expenses may vary.
Medical
The medical plan covers a wide range of services, from preventive and routine care, to hospitalization and surgery. The medical plans include a prescription drug benefit, which covers prescriptions at participating pharmacies and mail-order maintenance drugs.
- Plan remaining with Oxford
- Plan is a high deductible health plan with slight plan changes from 2020.
- Access to funds through a Health Savings Account and HRA.
- Health Savings Account fund is $3,600 for an employee only and $7,200 for all other tiers.
- Medical HRA : After you spend $3,600 (Employee only) or $7,200 (all other tiers) on medical costs, you will have access to HRA funds of $4,000 (employee only) or $8,000 (all other tiers) to spend on medical expenses.
- Mental Health HRA: You will have access to these funds after you meet a deductible of $1,400/ $2,800. You will have access to $10,000 to spend on mental health expenses.
Dental
Guardian Plan Highlights
PPO – This plan offers the flexibility to visit any dentist, with higher benefits paid when you visit a network dentist. After you meet the annual deductible, the Plan pays a percentage of covered expenses until you reach the annual maximum benefit limit. Orthodontic services are covered. Your out-of-pocket costs are lower when you visit a network dentist. Preventative and Diagnostic Care is exempt from the deductible.
o When you use a network dentist, you are only responsible for the difference between the network fee for the service provided and the Plan’s payment for the approved service.
o When you use out-of-network providers, your cost is based on the Usual, Customary and Reasonable (UCR) charge, instead of a discounted fee. You are responsible for any amounts that exceed the UCR, in addition to the deductible and coinsurance.
Vision
Participation in the vision plan is also available. The most liberal benefits are paid when you use a provider in the United Healthcare network. The plan helps you pay for a wide range of vision-related services and products are available. Gilder, Gagnon, Howe & Co. pays the full premium for this coverage.
LTD & Life AD&D
Long Term Disability
Gilder, Gagnon, Howe & Co. offers Long Term Disability (LTD) through Unum. This plan
provides income replacement in the event you become disabled and cannot work. You will receive 66.67% of your salary to a maximum of $35,000 a month after 180 days of being disabled.
Statutory DBL
Gilder, Gagnon, Howe & Co. provides employees with statutory disability (DBL) for prolonged absences beyond five (5) working days. The benefit is 50% of your weekly salary up to a maximum of $170 for a total of 26 weeks. This benefit is 100% paid for by Gilder, Gagnon, Howe & Co.
Life Insurance
Gilder, Gagnon, Howe & Co. provides a Basic Life and Accidental Death &
Dismemberment (AD&D) insurance plan to help protect your family financially in the event of your death or serious injury due to an accident. Gilder, Gagnon, Howe & Co. pays the full premium for this coverage.
Basic Life Insurance and AD&D
Life Insurance: In the event of your death, your beneficiary would receive a life insurance benefit of three times your annual earnings, up to $200,000.
AD&D Insurance: If you die or suffer certain injuries as the result of a covered accident, AD&D insurance pays a benefit. The amount of the benefit depends on the type of accidental loss, and pays up to three times your annual earnings, up to $200,000, for an accidental death. This amount is in addition to the life insurance benefit.
Long Term Care
All eligible employees will automatically be provided a base Long Term Care insurance plan. The cost for the base plan is paid 100% by Gilder, Gagnon, Howe & Co. and the coverage is provided by Unum.
If you would like additional long term care protection, you may choose to buy up additional Long Term Care coverage for yourself and/ or your family members. You would pay for your additional premium as a payroll deduction and your family members would be billed separately while all would still be taking advantage of the plans group rates. If you would like more information about your current coverage or buy-up plan options and rates, please contact the Human Resources Department.
What is Long Term Care?
Whether it's due to a motorcycle accident or a serious illness, it is the type of care you may need if you couldn't independently perform the basic activities of daily living: bathing, dressing, using the toilet, transferring from one location to another, continence and eating, or if you suffered severe cognitive impairment from a condition such as Alzheimer's disease.
Tax Advantage Plans
Flexible Spending Accounts
We continue to offer health care and dependent care flexible spending accounts (FSAs), administered by Wage Works, which allow you to pay for eligible health and dependent care expenses with pretax dollars.
Please note that if you have currently elected an FSA, you must re-elect coverage for 2021 to continue participating, even if you do not change your election amount.
Limited Purpose Health Care FSA
You may elect to defer up to $2,750 of your salary into a limited purpose health care FSA.
Eligible Expenses
- Deductibles, copays and coinsurance for dental and vision care that are not paid under any plan.
- Medical and prescription expenses are not eligible until you meet the deductible.
- Refer to Publication 502 for more information.
Dependent Care FSAs
You may elect to defer from up to $5,000 of your salary into a dependent care FSA per household. If you are a highly compensated employee (HCE), defined by the IRS as an employee with annual compensation greater than $120,000, your election may be reduced during the year, if necessary, to ensure that the plan passes required discrimination testing.
Eligible Expenses
- Expenses that enable you and your spouse to work, look for work or attend school full-time.
- Child care centers, private providers, nursery schools, summer day camps and after-school care provided for your eligible dependent (children up to age 13).
- Care provided for your eligible elderly or disabled, tax-qualified dependent.
- Refer to Publication 503 for more information.
Commuter Benefits
You can save money on your commuting expenses by participating in tax-savings Commuter Accounts,
administered by Wage Works, to pay for eligible transit and parking expenses with pre-tax dollars from your pay. Since they are deducted before federal income taxes and Social Security taxes are calculated, your taxable income is lowered; you pay less tax in each paycheck; and you reimburse yourself with tax-free money from your account.
Eligible Expenses
- Transit Account – Work-related travel expenses such as train, bus and subway passes and metro cards.
- Parking Account – Parking expenses at or near your work location or mass transit.
Parking that is not work-related, mileage, tolls, taxis, and parking at an airport for air travel are not eligible expenses.
Monthly Contribution Limits
- Pre-tax Contributions – Up to $270 per month for parking and up to $270 per month for transit for calendar year 2021
- Post-tax contributions are permitted
Additional Benefits
Telehealth Service - HealthiestYou
HealthiestYou is a telehealth service available to you and your enrolled dependents. Service is unlimited, FREE and available 24/7/365. Usage of this benefit will not impact your deductible and you will not be billed. Their physicians are licensed and board certified to diagnose, treat, and prescribe for acute illnesses such as sinus infection, cold, flu, UTI, pink eye, and many more. HealthiestYou can handle over 70% of your typical doctor’s office or urgent care visits.
MedJet Assistance
If you or a covered dependent(s) becomes hospitalized as an inpatient due to an illness or injury while traveling 150 miles or more from your primary place of residence, whether domestically or internationally, MedJetAssist will arrange air-medical transport for you or your dependent to the home country hospital of your choice. See the Human Resources Department for details.
How To Enroll
- Log In to your ADP enrollment portal to review your current coverage and enroll and modify your elections for 2021.
- If you'd like to change your existing coverage or make new elections, you must do so by December 21,2020. Your current medical, dental and vision elections will carry forward to 2021 if you don't make a new election.
- To participate in the Flexible Spending Account in 2021, you must make an active election, even if you're already participating in 2021.
Contact Us
Contact Information
Silvana Cipartino is available for any claims and benefit questions. Please contact her at silvana.cippartino@nfp.com or 516-327-2811.