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Thank you for joining the presentation.

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Today we're going to speak

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to updates to the medical benefits
for calendar year 2025.

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This year
we'll be introducing new medical plans.

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So it is important to understand
your options as you're making the decision

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that's best for you and your family.

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Today

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we'll go over active open enrollment
and what that means.

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We'll introduce the new medical plan
options as well as review our current plan

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B. So we're
all speaking the same language.

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New coverage options.

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Options.

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A closer look at each option.

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Talk about some considerations.

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So you're making the best decision.

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And additional resources and support.

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This year

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we will be holding an active open
enrollment.

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Open enrollment will be November
6th, 27th.

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And this year everyone must make elections
for their benefits.

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And active open enrollment
means you need to review your choices,

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even if you're already enrolled
and do not wish to make any other changes.

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And open
enrollment will be for medical insurance.

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That includes whether you're opting in
or waiting until insurance

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can short term disability

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increases or decreases
to long term disability and life

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insurance, and flexible spending cuts.

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If you do not take action,

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you will not receive benefits in 2025.

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In an effort to support folks,
we will be holding our annual Employee

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Benefits and Wellness Fair
and that will be on November 6th from 8

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to 330 at the data center.

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Let's now

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look at different medical coverage
options,

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which include new ones, as well as the one

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we've had in place for over ten years.

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Why are we making changes?

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It's no secret that insurance costs
have been rising each year.

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In 2023,
the UVM medical insurance plan went up

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19 13.9% 15% in 2024.

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And this year will increase by 19.3%.

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For the current plan that is offered.

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Our goal is to give employees

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the power to choose
what works best for them.

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Also, switching to active open

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enrollment will make sure that employees

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are looking at their options
and making the choice from year to year

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for what will be best for them
and their family.

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This also aligns more
with what other organizations are doing.

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It is not uncommon for organizations
to offer more than one plan

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for employees to choose from.

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Making.

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So as we discuss the different coverage
options, we want to make sure

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we're talking in the same terms
and that we have a common understanding.

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So the coverage options. Are.

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Will all be within the same Blue
Cross Blue Shield provider network.

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But there will be four different designs

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from which to choose from
that have different cost associated.

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The premium that is the monthly amount
you pay for your coverage.

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It's split between you and UVM and that's
what you see deducted from your paycheck.

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A deductible is an out-of-pocket cost
before insurance starts

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paying for services.

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A copay is a fixed amount
paid for services, and co-insurance

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is the percentage that is shared between
the insurance company and the employee.

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After meeting the deductible,
and the out-of-pocket

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maximum is the most
that you would pay in a calendar year.

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After that, insurance
would pay 100% of the costs.

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Our coverage plans

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fall into two categories 
Preferred Provider

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Organization called PPO or High

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Deductible Health Plan, also called h h p.

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Under a PPO plan, you do pay

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higher premiums, but then you have lower
out-of-pocket costs.

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When you utilize services.

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Our long standing plan at
the university is a PPO plan.

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Introduced this year will be high
deductible health plans.

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That means 1st May pay a lower premium

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with higher upfront costs
when you use the services.

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However, to balance

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that, a high deductible
health plan includes a health

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savings account component,
which is also known as an HSA.

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And those HSA do receive up contributions.

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Regardless of the option you choose.

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There are some similarities.

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100% of preventative

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care accessed within
the network is covered at the full cost.

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That includes an annual physical exam

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and regular screenings such as mammograms

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and colonoscopy.

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Each of the coverage options

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are within the Blue
Cross Blue Shield network.

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Prescription drug coverages
are all through the Optum program,

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and then

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on all of them
have an out-of-pocket maximum.

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And if you meet that threshold,
then there is no additional cost

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to you for that cap per year.

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So let's take a look at each

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of the options that are available.

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The first option

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where we will review
we are calling PPO one.

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This essentially
is the UVM traditional offering

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that has not changed for this calendar
year.

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It provides extensive coverage
with very low copayments,

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but it also has
the highest monthly premium,

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which is the amount
that comes out of your paycheck.

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So for in-network coverage, there is
no deductible that you need to meet.

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It immediately
goes into a copay structure.

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And it
it has a prescription drug deductible.

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When and the lowest out-of-pocket
maximum or prescription

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coverage.

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What you pay for this plan is adjusted
based on your salary.

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And it is that salary cost share.

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Great that you are used to seeing

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that has the band and
rates for about every $10,000

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in 2025, premium rates for

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you employee's will increase 19.3%

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for this plan.

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In addition to this plan,
we will offer three new plans.

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The first one we will
review is called PPO two.

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This is essentially a middle of the road
approach.

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It balances lower monthly premiums and PPO

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one with some more up front pocket costs.

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So it this plan does

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have a deductible associated with it.

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You would need to

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pay either $500 for employee

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only coverage,
or $1,000 for family coverage

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out of pocket for the insurance plan

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would begin to pick up costs

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once that deductible is met.

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There is what

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we now utilize as co-insurance
rather than a co-payment.

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Co-insurance in this plan,

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as 10% of the services you access.

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It also includes a slightly different

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prescription coverage.

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There is no separate prescription
deductible and your prescription costs

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costs are paid out-of-pocket
until your medical deductible

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is reached.

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For this plan, it is.

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The premium is still based on your salary.

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However, it is a collapsed salary grid
that has four different bands.

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The premium rates for this plan

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will be 5.9% lower than the PPO.

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One A rates.

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The university will also offer
two different high

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deductible health plans and high
deductible health plan.

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One has more upfront costs,
but with an opportunity to save

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B, this plan will have a lower
total monthly premium.

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However,
it will be with a higher deductible

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and a higher out-of-pocket maximum.

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Please keep in mind that these plans
also include

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a health savings account,
in which UVM will contribute to.

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This plan is also based

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on the deductible
and coinsurance structure.

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The deductible for an an employee

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only plan is $2,000, or $4,000.

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If enrolled in a family plan.

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You do have to meet that deductible again

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for the insurance to start covering costs.

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Once the deductible is met, a co-insurance

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is that you will pay 20% in the final pay,
80% for the services.

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Access.

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Again, the prescription deductible
is combined with the medical deductible.

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Once that deductible is reached,
it goes into a copay structure

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for prescriptions of $10, $40, or $80.

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The out-of-pocket
maximum for prescriptions

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is $1,650 for employee only coverage,

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or $33,300 for family coverage,

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out-of-pocket
maximum for medical insurance

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or medical costs is $4,000
if enrolled in employee

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only coverage, or $8,000
if enrolled in family coverage

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for the high deductible health plans.

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The premium will be the same cost
share for everyone.

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If you opt into this plan.

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Employees pay 20% of the premium cost,

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and UVM pays 80% of the premium costs,

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regardless of your salary.

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The second high deductible health
plan option is recommended

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for those who have experience
in a high deductible health plan,

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and may have previous health
savings accounts.

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With money accessible.

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This one does have the lowest
total premium

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in exchange for the highest deductible
and highest out of pocket.

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Maximum.

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As I previously said,
it is recommended for only for employees

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who have significant health
savings account balances.

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In this plan.

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The individual deductible is $3500

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or $7000 for family coverage.

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The coinsurance is also a higher rate
than the FDP.

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One option.

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This coinsurance, the employee pays
30% of the cost of services,

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and the insurance plan
will pay 70% of the cost.

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Again, the prescription

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deductible is combined
with the medical deductible

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and then it after that, deductibles
reached is when you will go into the copay

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structure of $10, $40, or $80

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for a month's worth of prescriptions.

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The prescription out-of-pocket max

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is $1,650 for employee only coverage,

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or $3,300 for family coverage.

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The out of pocket Max for this high
deductible health plan

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two is $6,500 for employee only coverage,

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or $13,300 for family coverage.

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However,
with high deductible health plans,

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it comes with the health
savings Account component,

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and this component it allows for tax

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advantaged savings
in order to offset court

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costs for that deductible amount

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that one needs to pay out of pocket.

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The University is creating a four tiered

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salary plan
for made into health savings accounts

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for employees

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who earn less than $50,000 per calendar
year.

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The university will contribute $800

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if enrolled in employee
only coverage, or $1,600

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if enrolled in family coverage
between 50 and 80,000.

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That amount decreases
slightly to $600 or $1200.

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80,000 to 110,000

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would be $400 or $800.

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And for employees
who make $110,000 or more.

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The health savings account
contribution will be $200

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or $400.

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However, in 2025,

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if one enrolls in a high deductible

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health plan
and makes less than $80,000 per year,

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UVM will contribute a one time

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additional deposit of $1,000.

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A health savings account

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are tax advantaged account.

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There is three ways
where they are tax free,

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so when money is put into the account,
it is a tax free contribution

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that includes the employer on that plan.

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And if an employee chooses to also
contribute to their health savings account

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when you withdraw the money,

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it is also not taxed.

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As long as you are paying
for medical eligible medical expenses.

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And then also you do have the option
if you choose

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to invest the funds in your health
savings account.

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If you do choose that option,
any growth or earnings

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on those investments are taxed.

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UVM will contribute to all health savings

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accounts for employees that are enrolled
in the high deductible health plan,

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and those contributions will be divided
between three equal payments

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on January, April and October.

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During the calendar year.

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Employees may also choose to contribute
to their health

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savings account,
but there are limitations to that.

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It is $4,300 for the individual
for the calendar year,

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or 8550 for family coverage.

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Employees who are over 55
and opt into this kind of coverage

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can contribute an additional
thousand dollars as a contribution.

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00:15:50,250 --> 00:15:53,750
Those contribution limits are include

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both employee and employer contributions.

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00:15:57,062 --> 00:16:00,625
As you're reviewing whether you want
to contribute to the plan.

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00:16:04,750 --> 00:16:06,187
You may
be wondering, what's the difference

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between a flexible spending account that
the university already offers and a health

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00:16:10,250 --> 00:16:13,250
savings account, which is part of a high
deductible health plan?

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00:16:14,062 --> 00:16:17,062
For a medical flexible spending account.

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00:16:17,250 --> 00:16:19,812
You may only enroll in that benefit

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00:16:19,812 --> 00:16:22,812
if you are not in a high deductible health
plan.

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00:16:23,375 --> 00:16:27,437
For an HSA, you must be enrolled
in a high deductible health plan.

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00:16:28,875 --> 00:16:31,062
The IRS does set contribution limits

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00:16:31,062 --> 00:16:35,875
to each of these types of accounts
every calendar year, and in 2025,

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a medical flexible
spending account is 3300 per individual.

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00:16:41,000 --> 00:16:44,375
And for an HSA, it is 4300

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00:16:44,375 --> 00:16:48,000
for an individual or 8550 for family

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00:16:48,000 --> 00:16:51,000
coverage with a potential thousand dollars
catch up.

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00:16:51,312 --> 00:16:56,062
As we noted previously, that is
both employee and employer contributions.

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Employers do not

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contribute to the flexible spending.

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00:17:02,625 --> 00:17:03,750
There are carryover

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00:17:03,750 --> 00:17:09,000
rules for a medical flexible
spending account, so only unused funds up

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to $640 are carried over.

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00:17:12,875 --> 00:17:17,687
If you have more in your account
at the end of the eligible period

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than that, that amounts
forfeited that health savings account.

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00:17:23,437 --> 00:17:26,812
Unused funds are carried
over a year to year without limits.

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00:17:29,062 --> 00:17:31,375
Medical flexible skimming accounts

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00:17:31,375 --> 00:17:33,875
are not available to invest.

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00:17:33,875 --> 00:17:38,125
Therefore, they do not earn interest,
nor does the amount to grow.

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One can choose to invest their health
savings account

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00:17:43,500 --> 00:17:46,937
in stocks, bonds or other options,
allowing for tax free growth.

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To access a medical flexible
spending account

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00:17:52,000 --> 00:17:56,000
as soon as the plan year starts,
you can access the amount

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00:17:56,000 --> 00:17:59,687
that you have pledged
towards funding that account for.

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00:18:00,812 --> 00:18:03,125
However, in a health savings account,

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00:18:03,125 --> 00:18:06,125
you can only access funds
that have been contributed

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00:18:06,562 --> 00:18:09,562
thus far.

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00:18:13,875 --> 00:18:15,125
These are new options,

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00:18:15,125 --> 00:18:18,625
so we want to make sure that folks
are taking into consideration

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their particular circumstances
and deciding

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which option is best for that.

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00:18:26,375 --> 00:18:29,125
Here are some questions to ask yourself

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Is your premium payment lower and a PPO

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00:18:31,937 --> 00:18:34,625
or an FDP?

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00:18:34,625 --> 00:18:38,625
What kind of medical services
do you frequently use?

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00:18:39,062 --> 00:18:42,062
Do you have ongoing medical conditions?

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00:18:43,187 --> 00:18:46,625
Do you plan on any major medical expenses
in the upcoming calendar year?

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00:18:47,187 --> 00:18:50,812
Perhaps you have a planned
or anticipated surgery.

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00:18:51,375 --> 00:18:54,062
Perhaps you have maternity care upcoming.

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00:18:54,062 --> 00:18:57,062
You will want to take those into account.

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00:18:58,062 --> 00:18:59,312
Does your budget allow for you

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00:18:59,312 --> 00:19:02,812
to manage a higher out-of-pocket
costs to save our monthly premiums?

305
00:19:04,062 --> 00:19:05,875
And if

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00:19:05,875 --> 00:19:09,500
you had an unexpected medical expense
arise, would you be able to cover

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00:19:09,750 --> 00:19:12,750
that out-of-pocket
max on a high deductible plan?

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00:19:13,562 --> 00:19:16,812
These are all personal decisions
that you need to think about

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00:19:17,062 --> 00:19:20,062
when you're making the best choice
for you and your family.

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00:19:24,875 --> 00:19:25,312
Let's look

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00:19:25,312 --> 00:19:30,000
at some examples comparing the employee
2025 monthly premium costs,

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00:19:30,000 --> 00:19:33,812
which are the amounts
that are deducted from your paycheck.

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00:19:34,250 --> 00:19:39,687
As you can see on the chart,
the different salary bands have different

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00:19:40,187 --> 00:19:42,937
monthly costs for the PPO one and PPO

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00:19:42,937 --> 00:19:45,937
two option

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00:19:45,937 --> 00:19:47,062
on the High deductible

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00:19:47,062 --> 00:19:50,062
health plan and High
Deductible Health Plan two.

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00:19:50,187 --> 00:19:54,687
Regardless of your salary,
the employee pays 20% of the premium

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00:19:55,750 --> 00:19:57,625
out of their paycheck.

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00:19:57,625 --> 00:20:00,125
You'll want to make these considerations

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00:20:00,125 --> 00:20:04,437
based on your salary and medical costs.

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00:20:04,562 --> 00:20:06,562
As you are looking

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00:20:08,250 --> 00:20:10,875
for potentially

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00:20:10,875 --> 00:20:13,875
making a change to your medical coverage.

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00:20:14,875 --> 00:20:18,625
For a complete list of premiums,
they are available on the website.

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00:20:19,000 --> 00:20:22,125
And as a reminder,
premiums are only part of the equation.

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00:20:22,125 --> 00:20:26,000
You'll also want to factor
in contributions

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00:20:26,000 --> 00:20:29,000
that the university would make towards
your health savings account.

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00:20:35,875 --> 00:20:39,500
We understand
this is a change in benefit options.

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00:20:39,500 --> 00:20:44,625
However, it may not be a change for what
you select in order to support you.

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00:20:44,625 --> 00:20:49,562
We are offering several resources
that you can access.

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00:20:49,937 --> 00:20:54,750
The Employee Benefits and Wellness Fair
will be on November 6th between 8 and 330.

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00:20:55,250 --> 00:20:58,625
We'll have live medical coverage,
overview sessions

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00:20:58,812 --> 00:21:02,187
and staff on hand to help you navigate

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00:21:02,187 --> 00:21:05,187
any questions.

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00:21:05,812 --> 00:21:06,937
We encourage you to review

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00:21:06,937 --> 00:21:10,625
the reference materials that break down
more of the specifics.

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00:21:11,187 --> 00:21:15,000
We have created a quick guide,
a 2025 Benefits Guide.

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00:21:15,375 --> 00:21:19,875
There is lots of information available via
the website and three check estimators.

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00:21:21,937 --> 00:21:23,500
Are to people you trust.

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00:21:23,500 --> 00:21:27,000
If you have friends or family
who help you make these decisions

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00:21:27,312 --> 00:21:30,500
and you trust their experience,
we encourage you to talk to them

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00:21:31,312 --> 00:21:34,562
and also talk to your HR rep
or the HR info team.

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00:21:34,812 --> 00:21:38,000
We can help you navigate questions,
get your answers,

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00:21:38,000 --> 00:21:41,062
and make sure that you are making fully
informed decision.

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00:21:44,562 --> 00:21:45,375
Again,

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00:21:45,375 --> 00:21:48,875
as a reminder,
you must actively select your benefits

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00:21:48,875 --> 00:21:51,875
during the open enrollment
period in November.

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00:21:52,062 --> 00:21:55,437
Make sure you're selecting your benefits,
including your medical insurance.

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00:21:55,875 --> 00:21:58,250
Even if you're opting to waive it.

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00:21:58,250 --> 00:22:02,812
Dental insurance
voluntary vision short term disability

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00:22:03,250 --> 00:22:07,937
increasingly decreases to long term,
long term disability and life insurance,

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00:22:08,500 --> 00:22:11,500
and a flexible spending account.

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00:22:13,187 --> 00:22:14,437
Thank you for your time.