Ballard Insurance Group LLC A Rexburg, Idaho, agency providing medical and life insurance policies.

(208) 356-7500

(208) 356-7501 fax

Lynne Rydalch

lynne@ballardins.com

Jirell Womack

jirell@ballardins.com

Rudey Ballard

rudey@ballardins.com

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2013 Benefits Review

 

Classic Aviation Employee Benefits 2013

New to your group benefits this year is Life Insurance and Long Term Disability Insurance

Both are provided to you at no cost to you. Classic Aviation pays all the premium on these.

There is a 10k benefit of basic term life – meaning whatever causes the death – illness or accident - there will be a 10k death benefit.

Embedded with this also is a 10k Accidental Death & Dismemberment benefit – so if the death is caused by an accident, your beneficiary will receive the initial 10k of the basic term life and then an additional 10k of the AD&D making the benefit 20k.

Though you do not need to sign up for this benefit, Classic Aviation does need each eligible employee to complete this Beneficiary Form. This is so, in the event of death, this benefit can be paid to the person whom you direct and not to your estate.

If you do not complete the form, the benefit would go automatically to your estate and creditors of your estate would have access to it.

When a life insurance claim is filed, Classic Aviation will provide Unum with the most recent copy of the beneficiary form taken from the deceased employee file. It is important that you keep your beneficiary form up to date. You can make changes to it at any time. You do not need a qualifying event or open enrollment to update your beneficiary. We have at times seen the death benefit paid to an ex-spouse when the employee was remarried to someone else. This was because the beneficiary information was never updated.

Sometimes we get the question about naming children who are under age 18 as the beneficiary. If you do this and don’t have a will appointing a financial guardian for the child, the court will appoint a financial guardian – then at age 18, the child will have sole access to the benefit, or what is left of the benefit. Sometimes it is wise to name a beneficiary who is over 18 who understand what the benefit is to be used for.

Long Term Disability

This is a benefit that insures your income and is provided at no cost to you. This benefit will be paid at 60% of your income after you complete a 180 day elimination period. That means, from the date your physician states that you are disabled, the benefit will start 180 after that.

This policy is kind of unique. Your disability is based on your ability to perform your job or occupation. Social Security Disability is based on the inability to perform any job – so if you became so ill that you

could not perform your current occupation but could still sit in a call center – you would not be eligible for social security disability benefits. Additionally, it takes about two years to get everything processed and approved to become disabled through social security.

The duration of this Long Term Disability benefit varies depending on which employee classification you are in.

You do not need to do anything to enroll in this benefit. You will automatically be enrolled after your probationary period is completed if you are a new hire, or if you are currently eligible, as of April 1, you have this coverage.

Medical

There are a few changes on your medical plan

This year, nine area hospitals are withdrawing from the Regence Blue Cross Blue Shield Network. They are listed here. We did a claim review on your group and only 3% of the enrollees used these facilities. We have tried to contact those employees directly to review this information.

Your deductible stayed at $1500 but going forward this year, your family (if you are enrolled that way) will only be subject to meeting two deductibles instead of three like last year.

At renewal the Women’s Preventive Health (WPH) that is connected with the recent healthcare legislation went into effect. You might be familiar with this – it covers some of the birth control pills at zero cost sharing and other Women’s preventive Health benefits. Just be aware of that benefit and if you need more information regarding how a specific thing would be covered, it would be wise to call Regence directly so they can look in their system and tell you exactly what the benefit would be.

The annual limits have been removed from your policy.

Now is the time to make changes in your enrollment. If you want to make changes you need to complete the change of enrollment form. If you don’t make changes now, the only other time in the year you could make changes – adding or dropping dependents – is if you have a qualifying event – such as marriage, birth, involuntary loss of coverage – to name a few. If you are making changes in enrollment, your form needs to be submitted to Eriko’s office by tonight.

Also, due to the Affordable Care Act, employers are required to send to each eligible employee and their eligible dependents (even if these dependents are not covered on the health plan) a copy of Classic Aviation’s Summery of Benefits and Coverage – known as SBC. The SBC provides you information about your health benefits in a standardized format.

In order for Classic Aviation to provide your dependents with the SBC, they need this form completed. This form must be completed and returned to Eriko’s office by tonight. If your dependents all live at your residence, you still must complete this form indicating that. The SBC that you received in your email, you need to share with the dependents that live with you.

Dental

Ameritas Dental – you can go to any dentist you want, if you can find an in network dentist the benefit is usually a little better because the dentist is contracted to only charge a certain amount on a procedure.

You can begin using this benefit as soon as your coverage begins.

Class 1 is generally preventive services like cleanings and xrays

Class 2 is usually fillings

Class 3 is not covered during the first 12 months that you are on the plan but after that it is covered at 50% Those services are usually like crowns and bridges.

1st 12 months that you are on the plan, there is a $750 annual maximum benefit that Ameritas will pay

2nd 12 months on the policy there is a $1000 annual max

The 3rd year you are on the policy, the annual max increases to $1500

Also, offered by Classic is the Total Dental Administrators Plan referred to as TDA. Many of you might be on this plan currently – if it is working for you, there isn’t a need to change. The open enrollment for this policy is September so we can’t take new applications for it unless you are a new hire.

This plan offers two options, either an HMO where you have to go to the HMO dentist or it is not covered and the Elite PPO plan where you go to the PPO provider for the best benefit.

Ameritas Vision – new to your benefits is the vision option. You go to VSP providers to receive the best benefit. VSP is a huge nationwide network so finding a provider is not difficult.

Basically you have a $15 co-pay on exams and a $25 co-pay for materials. The benefit caps at $130 for materials – such as glasses or contacts. So if you get progressive lenses and the glasses cost $300 – you would be responsible for the difference.

You can have an exam once every 12 months – so if you had an exam May 15, 2013 – you would be eligible to have another exam after May 15, 2014. It is the same on lenses. For frames, you can only get new frames once every 24 months.