Annual Benefits Open Enrollment for 2017 will begin on Monday, Nov. 7, 2016, and end on Friday, Nov. 18, 2016. Informational meetings will begin on Oct. 31, 2016, and end Nov. 4, 2016. Employees must register to attend a meeting through the Training and Development website at: https://app.semo.edu/genl/registration/homepage.asp. Times and locations of the sessions can be accessed by selecting “Course List” and then the Training & Development category.
The following will be discussed during the informational meetings:
- Medical premiums will increase by 11.7% for 2017.
- The University will continue to pay 100% of the employee-only premium for the Medical Base Plan ($1,500 individual deductible).
- The University will continue to provide the Base Plan dependent premium supplements at the current levels.
- The Medical Accelerated Plan ($500 individual deductible) will again be available for purchase by employees, with the employee premium cost between $22-$90 per month based on salary level.
- The Medical Accelerated Plan prescription drug copays will increase to $15/$35/$75.
- University-provided cafeteria plan funding levels will remain the same in 2017.
- Dental and vision premiums will remain the same in 2017.
- The vision plan B frame allowance benefit will be enhanced to $160.
- The medical reimbursement account (MRA) annual contribution limit increases to $2,600 for the 2017 tax year.
All employees are strongly encouraged to attend an informational meeting. Medical insurance plan utilization has been much higher in the past twelve months, resulting in the 11.7% premium increase mentioned above. Although the University is not passing the cost increase for the employee only premium at this time, there is an immediate need for the University to identify strategies for controlling costs. These strategies will be discussed during the meetings.
Questions concerning these meetings should be directed to Human Resources at (573) 651-2206.