- June 2010
Annual Enrollment for benefits for the 2010-2011 plan year begins on July 1, 2010, and lasts through July 31, 2010. The June 2010 “A Matter of Health” newsletter is a special Annual Enrollment edition produced specifically for employees, and provides detailed benefits information for U.T. employees and their qualified dependents for the upcoming benefits year.
As in past years, watch for the arrival of emails as well as printed materials from the Office of Employee Benefits (OEB) and from your own institution’s Benefits Office providing you with information related to Annual Enrollment, Benefits Fairs, possible Lunch and Learn opportunities and more. Additionally, details regarding each of the UT-sponsored benefits plans are available for review in the OEB website at www.utsystem.edu/benefits, including the “UT Benefits Handbook for Employees” and online video presentations.
If you take no action, your current coverages (except UT FLEX) will continue for the new plan year. In order to continue participation in UT FLEX, you MUST re-enroll during Annual Enrollment. The Debit Card must also be re-elected.
The cost of health care nationwide continues to rise, at rates higher than projected. What does this mean for you?
The UT SELECT Medical plan administered by Blue Cross and Blue Shield of Texas is self-funded by the UT System. As a self-funded plan, all claims are paid by UT System through premium sharing monies allocated by the State Legislature, UT System Institutions, and your monthly out-of-pocket cost (for dependent coverage and for part-time employees, the portion of employee-only coverage). The claims experience during the current benefit year (2009-2010) indicates an upward trend of 9% in the cost of providing health care services to UT members, and the current premium rates are deficient by 5%. That means we will experience an increase in monthly premium rates and a change in plan design.
As outlined in the May 2010 “A Matter of Health” newsletter, Dearborn National has been selected through a competitive bid process to continue to provide Group Term Life and Accidental Death and Dismemberment (AD&D) benefits for UT System employees and your eligible dependents for an additional six years beginning September 1, 2010. Take a look at these substantial premium reductions and plan enhancements.
The UT SELECT Dental plan administered by Delta Dental is self-funded by the UT System. With UT SELECT Dental, you may see network or out-of-network dentists and referrals are not required to see a specialist. If you see a Delta Dental network dentist, Delta Dental will pay the dentist directly. Read more about these changes.
Authorized by the IRS, the UT FLEX Flexible Spending Account plans let you set aside money from your pay before taxes are withheld. You can use money from these accounts to pay for certain out-of-pocket medical and dependent day care expenses while receiving a tax advantage.
More UT FLEX topics:
If you would like a specific topic discussed or have a question you would like answered in a future issue of this newsletter, please send your suggestions to email@example.com.
UT System Employee Benefits Web site: www.utsystem.edu/benefits/
UT System Retirement Programs Web site: www.utretirement.utsystem.edu
Your Local Benefits Office: http://www.utsystem.edu/benefits/contacts#1