Group Benefits Newsletter

Group Benefits Review Newsletter

Cost for most of you won’t change…new tobacco user rates…Blue Cross plans renewed with minimal adjustments. Despite the deep in-network discounts associated with our BlueCross medical plan, claim costs are rising at an alarming rate. Our plan costs for the new year will increase about 15%. Acousti will be absorbing most of this cost increase so that for most of you, your cost will not change. There will be several benefit adjustments to each of our three plans (first adjustments since 2014) however we believe the impact to most of you will be minimal. While the cost for non-tobacco users will not change, we are introducing a new tobacco user classification which means tobacco users will pay more. Remember that all of your cost is collected on a pretax basis through our Section 125 Flexible benefit plan so that the net effect on your paycheck is less than the illustrated cost. Now is the time you can change your plan choice so be sure to study the side by side comparison in the newsletter and the detailed plan outlines in your anniversary envelope. Be sure to mark your selection on the benefit election form and if you are enrolling for the first time or changing plans, complete the simplified medical/dental enrollment form.

Enrollment

There are three (3) windows of opportunity for one to join the Acousti Engineering Company Benefit Plans.

  1. When one is initially eligible (first of the month following three months of continuous full-time employment).
  2. Enrollment during the 30 days prior to the plan anniversary (currently April 1st).
  3. Enrollment within 30 days of a change in family status (for example, marriage, birth, death, adoption, etc.)

Let's Talk Prescriptions...

Blue Plan members enjoy the economy and convenience of our prescription drug card/mail order program. Effective April 1, 2017, the copays per prescription dispensed at the pharmacy (30-day supply) will be $15 for generic, $30 for the preferred brand, and $50 for the non-preferred brand. The mail order (90-day supply) copay for generic will be $30, $60 for the preferred brand, and $100 for the non-preferred brand. Green Plan members have the following prescription benefits: $15 Copay for Generics, $500 deductible and 50% coinsurance for Brand Name. Yellow Plan members have the following prescription benefits: once the calendar year deductible is paid then $15 for generic, $30 for preferred brand, and $50 for the non-preferred brand.

Basic Group Life & Accidental Death Insurance

All eligible employees receive Basic Life Insurance & Accidental Death Coverage equal to one times your annual compensation (based on prior year W-2 earnings) with a minimum death benefit of $20,000. This coverage is underwritten by The Hartford and is paid for entirely by Acousti. Plus, those employees covering dependents on the medical plan receive a Dependent Life benefit at no additional cost!

Our Flexible Benefit Plan Saves You $$$

Acousti operates a Flexible Benefit (Section 125) Plan which allows participating employees to pay their portion of the cost for medical and dental coverage on a pre-tax basis through payroll deduction. Because of this plan, most participants enjoy savings of 15-30% on the actual cost of these benefits. The plan is designed so that your prior year election continues into the new year however, if you are making a benefit change you MUST complete a new election form - See the Insurance Coordinator at your branch for the paperwork required to make a change.

Dental Benefit Summary

For 2018 our Group Dental is provided by Sun Life Financial effective 4/1/2018:

  • The dental plans uses the Sun Life Dental Network. Using the network increases your maximum calendar year benefit from $1000 to $1500 and provides a 100% benefit for not only Preventive Services, but many basic services.
  • Four Tier Pricing will significantly reduce costs for those covering only a spouse or only child(ren). The Full Family rate also represent a significant value.
  • The plan will cover up to FOUR CLEANINGS per year (2 Routine, 2 Perio)

The monthly cost for the 2018-2019 plan year are as follows:

             Employee Only: $37.82
             Employee + Spouse: $72.45
             Employee + Child(ren): $72.85
             Employee + Family: $107.48

The current dental plan ends 3/31/2017. You must complete and return the enrollment form to be included in the new plan.

Blue Plan Medical Plan Members...

Did you know you can handle your mail order prescriptions on-line? You can review your medication profile on-line as well. Visit the Blue Cross Blue Shield of Florida website and try it out!

www.bcbsfl.com

For those who prefer paper...the Insurance Coordinator in your branch can provide you with Mail Order prescription supplies.

Nationwide Access To Participating Blue Cross Shield Providers

To find the most current Blue Cross and Blue Shield Participating Provider (PPC) listing visit the Blue Cross website for your state:

Florida www.bcbsfl.com
All Others www.bcbs.com

Supplemental Life Insurance

Our Supplemental Life Insurance Program allows participants to purchase up to $120,000 of economical term life insurance with no health questions. Better yet, the cost is payroll deducted. Look at the rates, you'll be surprised at how little it costs for this important coverage. Rates increase due to age at 5-year intervals.

Winning Medical Plan Design

Acousti provides all eligible employees with the choice of three Blue Cross and Blue Shield medical plans which we call Green Plan, Blue Plan and the Yellow Plan. The Green Plan plan provides a basic level of benefits. Acousti pays the total cost of the Green Plan plan for employees and a major portion of the dependent coverage cost. Those wanting a richer plan of benefits can join the Blue Plan plan which provides lower office visit copays, lower deductible and an enhanced prescription drug card. Those choosing the Blue Plan plan pays a portion of the cost of single coverage and a little more for family coverage. All plans use Blue Cross and Blue Shield's extensive Blue Options Network Blue network but also allow members to seek care outside of the network at reduced benefit levels. The Insurance Coordinator at your branch can provide you with a brief plan outline.

Handy Phone Numbers

Blue Cross Blue Shield (customer service) 1-877-352-2583
Sun Life Dental (Assurant) 1-800-733-7879
The John Geer Company 1-904-296-3990

The plans referred to in this newsletter are controlled by various plan documents and insurance contracts. Neither Acousti Engineering Company of Florida nor The John Geer Company has the ability to promise benefits beyond the scope of the documents or contracts. All final benefits interpretation will be controlled by the various insurance carriers.