July 2011> Special ANNUAL ENROLLMENT Edition for UT System Employees
Legislative Update
Wrap-up of Legislative Effects on the UT SELECT Medical Plan
The 82nd Regular Session of the Texas Legislature ended on May 30th with a Special Session opening on May 31st to allow additional time for budgetary issues to be resolved. Throughout both sessions, the UT System Office of Employee Benefits (OEB) has been carefully analyzing proposed legislative changes and watching the progress of various measures to determine what impact finalized changes will have on the UT Benefits program. Read More.
Annual Enrollment Update
ANNUAL ENROLLMENT TIMELINE UPDATE
Annual Enrollment Period Set: July 15 – July 31, 2011
The July 2011 “A Matter of Health” newsletter is a special Annual Enrollment edition providing details on the benefits enrollment process and the uniform benefits plan for U.T. employees and their qualified dependents. Read more about what to expect within this month.
UT SELECT Medical Premium Rates and Plan Design
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 funds allocated by the State Legislature, UT System Institutions, and member out-of-pocket premium costs (for dependent coverage and for part-time employees, the portion of employee-only coverage). Learn more.
No Changes Planned for Life, AD&D, Disability, Dental, Vision, or Long Term Care Coverage
The UT System Office of Employee Benefits (OEB) is pleased that all of the available optional plans will continue to offer the same complete package of benefits during the upcoming plan year, providing robust protection and financial value for you and your family, with no changes to any premium rates or out-of-pocket costs. Learn more.
Health Care Reform and Benefits
The health care reform bill passed by Congress March 23, 2010, also known as The Affordable Care Act (ACA), is designed to take effect in stages. Some requirements will not take effect until 2018, while other provisions are already in place. Below are several key changes affecting the UT SELECT Medical plan beginning September 1, 2011. Learn more.
Focus on Eligibility
Individuals are prohibited from receiving state premium sharing for coverage from another agency in addition to UT System. UT System will be conducting dual coverage audits which will identify individuals (including dependents, employees and retired employees) who are enrolled in UT SELECT Medical as well as being enrolled in medical coverage provided by Texas A&M University or Employees Retirement System of Texas (ERS). Learn what to do to help us this Annual Enrollment.
Be a Wise Healthcare Consumer
Like to save money? Enroll in UT FLEX!
Flexible spending accounts such as the UT FLEX* Health Care Reimbursement Account and the UT FLEX Dependent Day Care Reimbursement Account provide a tax-advantaged way to pay for certain out-of-pocket health care expenses and work-related day care expenses. Each account allows you to pay your expenses with “pre-tax” dollars, which means you get a tax deduction for these expenses before you ever file your tax return. You don’t pay federal income or Social Security taxes on this money. Read More.
Retirement Corner
Retirement Health
While reviewing insurance coverage for yourself and your family, Annual Enrollment is also a great time to review coverage for your financial health. Learn more of you can do during Annual Enrollment.
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