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Top 10 Questions I Wish I'd Asked BEFORE Choosing My Benefits

What is an HSA, and why would I want one?

A Health Savings Account (HSA) is used for medical purchases with pre-tax dollars from an employee’s pay. It is only available to individuals who participate in the High Deductible Health Plan and who are not on Medicare. The benefit of participating in the High Deductible Health Plan is the lower premium for a higher deductible. Opening an HSA allows you to use money to pay for medical expenses without paying taxes on the money.

What is a Medical Spending Account (MSA), and why would I want one?

Medical Spending Accounts (MSA) and Dependent Care Accounts are pre-tax programs that work with the Dev Medical Tiers to help cover medical related or dependent day care expenses for the benefit plan year. A Medical Spending Account (also referred to as a Flexible Spending Account or FSA) is designed to reimburse you for out-of-pocket medical care expenses incurred by you or your eligible dependents.

How can I participate in the Devereux Health and Wellness Program, and what are the benefits?

Participating in the Health and Wellness Program is easy…and free! Go to https://members.healthadvocate.com/; sign up and start tracking your points. Once you reach 85 points, you qualify to receive 10% off the Dev Medical Premium, or receive a contribution to your Health Savings Account if participating in the High Deductible Health Plan. If you enroll in Weight Watchers, IBX will reimburse you up to $150 of the cost of the program. You may also qualify for a gym reimbursement, too.

Do I have to pay for Life Insurance benefits?

No. Devereux provides two times (2x) your salary to a maximum of $200,000. If you would like additional coverage for you or your spouse, domestic partner, or dependents, you may choose to add voluntary Supplemental Life Insurance. 

Besides Life Insurance, does Devereux cover any other benefits at no cost to me? 

Yes. Devereux provides Long Term Disability to full-time employees. If you are disabled for more than 90 days, Long Term Disability pays 60% of your salary. Devereux also provides Health Medical Leave (HML) if you are sick – up to 8 days per year. Any accrued HML hours over 40 hours are doubled each year, 39 or less unused accrued hours are carried over at their current value. Time-Off Benefits are also provided at no cost; earn up to 192 hours per year in the first two years with increasing hours the longer you are employed. Devereux also provides Employee Assistance and Work Life Programs. Bereavement Leave, tuition assistance, service awards, and eldercare services are also available. 

What are voluntary benefits and how can I get them covered? 

Most of Devereux’s benefits are offered pre-tax to our employees, which is a tax savings. However, voluntary benefits are after-tax benefits that are fully paid for by the employee who chooses to add them. Devereux offers three (3) voluntary benefits: Vision, Supplemental Life Insurance, and Group Voluntary Accident. 

What is Group Voluntary Accident and what does it cover?  

Group Voluntary Accident is a program that pays a schedule of benefits if you have an off-the-job accident. For example, if you require X-rays due to an accident, the benefit will pay you $200; if you have to go to the hospital due to an accident, it will pay up to $1,000. You can see a complete list of scheduled pay-outs at https://benefits.devereux.org

Which of Devereux’s benefits programs allow me to keep my current family doctor and prescription program? 

If your doctor participates in the Blue Cross Blue Shield or MVP network, no change is necessary. The CVS Caremark prescription program is covered by Devereux Medical. The High Deductible Health Plan prescription drugs are provided through Future Scripts. 

I don’t know what funds to pick for my TIAA account. What funds should I pick?  

Each individual’s situation is different, so while Human Resources cannot advise you on what funds you should pick, you should explore the TIAA-CREF website and view materials given to you during your benefits orientation or you may call TIAA-CREF at 1-800-842-2252 or make an appointment with the TIAA representative. 

I don’t understand my benefit options - who can help me?  

Health Advocate™ (1-866-695-8622) is a free service available to employees enrolled in one of Devereux’s Independence Blue Cross medical plans. The Health Advocacy service can help you understand which benefits are offered and how they may work for you. 

 

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Frequently Asked Questions/Scenarios about Your Benefits 

I am a young, single & healthy employee. Why am I being “made” to purchase insurance anyway? 

The Federal Government requires that most Americans purchase health insurance. If you can afford health insurance but choose not to buy it, you must have a health coverage exemption or pay a fee. You may be healthy now, but the onset of a sudden or serious illness or a traumatic event can leave you with staggering medical bills. Even healthy, young people benefit from preventative health coverage. Therefore, you might be a candidate for Devereux’s high deductible health plan if you have little or no medical/prescription drug expenses. This plan has a low premium and a higher deductible but covers preventive services like annual physical exams, flu shots, and vaccinations. It is recommended you accompany the High Deductible Health Plan with a Health Savings Account (HSA). 

I am a single mother with two children. Is preventative care, like shots and immunizations, covered by my insurance?  

Yes. Preventative shots are actually free for your dependent children. You may find additional information about the types of preventative shots single mothers with children get for free on the Devereux benefits website at https://benefits.devereux.org

My spouse/partner just lost their job and with it, their healthcare coverage. What do I do to get them coverage and how long does it take? 

This circumstance is considered a “Qualified Family Status Change” according to the Devereux Employee Handbook located at https://benefits.devereux.org. Employees should contact Human Resources for help with changing their coverage within 30 days of this event. Any change in premium due to an event will be effective the first of the month following the Qualified Family Status Change. 

Note: Unless you have a “Qualified Family Status Change”, you may only make elections during Open Enrollment. A Qualified Family Status Change must be made within 30 days* of the eligible event. 

My spouse/partner is celebrating their 65th birthday next year. Do we stay with Devereux’s benefits or move to Medicare?  

Though you are eligible to receive Medicare when you and your spouse/partner reach age 65, you are not required to enroll. You may stay on the Devereux plan of your choice. If you elect to keep your Devereux coverage* and also enroll in Medicare, the Devereux plan is Primary. *If you select the High Deductible Health Plan and still would like to contribute pre-tax dollars to your Health Savings Account, you may not enroll in Medicare. Ultimately, enrolling in Medicare is a personal decision, so it recommended that you visit http://www.medicare.gov/us to help you decide what’s right for you. For explanations about other scenarios, such as Early Retirement or Retiring at or After Age 65, call Health Advocate at (866) 695-8622 or visit the Devereux benefits site for more information. 

 

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TOB/HML Q&A

 

Detailed TOB and HML Q&A

 

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