Open Enrollment schedule set

As the period for Open Enrollment approaches—the time for faculty, staff and retirees to enroll in benefits plans or make changes to their benefits packages—all who are eligible to receive coverage are advised to take a careful look at all medical insurance options, and to note upcoming changes in premium sharing that begin in 2004.

Those who do not wish to make changes to their benefits for the coming year need not do anything—current coverage will continue. The exception is Flexible Spending Accounts (FSA), which require annual enrollment. Those who wish to enroll in or renew their FSA can do so during Open Enrollment.

The schedule:

Late September: Open Enrollment workbooks will be delivered via campus mail to active faculty and staff. Workbooks for retirees will be sent to their home addresses.

Personal Enrollment Worksheets (PEW) will be sent to the home addresses of faculty and staff. Enrollment applications for retirees and for faculty and staff on long-term disability will be included in their workbooks.

Oct. 1-24 (Open Enrollment period): During the Open Enrollment period, faculty and staff should note any benefits elections and changes on their PEWs and return them as indicated on the form by Oct. 24.

New for 2003: Those who submit a change to their benefits during Open Enrollment, and have a University e-mail account, will receive an e-mail message within 72 hours confirming receipt of the form.

Mid-November: Confirmation statements will be mailed to home addresses.

Dec. 1: Corrections to Confirmation Statements are due.

Jan. 1, 2004: New benefits elections take effect.

What's new for 2004

Premium Sharing: Like other organizations, the University has experienced rapidly increasing medical insurance costs. Increases of 14 to 17 percent annually have doubled the University's medical insurance costs in a five-year span. As reported by Provost Paul N. Courant in his April presentation to the Board of Regents, about 70 percent of employees and retirees of the University—including virtually everyone with individual coverage—currently pay no co-premium for their medical insurance. To preserve the quality of medical benefits with individual choice of plans and coverage levels, it is essential that nearly all faculty, staff and retirees begin to contribute a modest share of their monthly medical care premiums.

Beginning in January 2004, those electing single- or two-person coverage will begin paying a minimum of percent of the total monthly premiums (some plans will require greater co-premium amounts), with the University continuing to pay up to 95 percent of the cost of insurance for the faculty or staff member.

Detailed co-premium rate information for each medical plan and coverage level is accessible now, in advance of Open Enrollment, to help employees determine their medical insurance choices.

Co-Pays: Co-pays for prescription drugs, office visits and physical therapy appointments for most faculty and staff will remain the same.

Health Care Flexible Spending Account: The maximum contribution to the annual Health Care FSA will increase to $6,000.

Flex Credit: The monthly $6 credit for flex benefit employees will be eliminated.

Comprehensive Major Medical (CMM): The $17 opt-down credit for single CMM coverage will end. Also, CMM deductibles and out-of-pocket maximums will increase for 2004.

For more information

Web: For more information on Open Enrollment, such as detailed co-premium rate charts for each medical plan and coverage level, visit the Benefits Office Web site: http://www.umich.edu/~benefits/.

Benefits AnswerLine: To hear recorded information and have benefits information and forms faxed directly to a home or office fax machine, including detailed co-premium rate charts for each medical plan and coverage level, call the Human Resources AnswerLine at (734) 647-2375. Select category 6150.

Email: Questions can be e-mailed to benefits.office@umich.edu.

Phone: HR/Payroll Service Center staff can be consulted at 5-2000 (campus), (734) 615-2000 (local off-campus), or (866) 647-7657 (toll-free for off-campus long-distance calling).

University Record: Watch for further details as Open Enrollment gets closer.

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