It’s almost that time of year again! Open Enrollment for GRMA benefits starts on Oct. 1 and ends on Oct. 16. Maybe you want to change your health insurance? Maybe you need to add an eligible dependent to a plan? Information about changes that may be occurring with the 2016 plans will be provided soon.
When most of us hear the term compensation, we typically only think of the money we receive in our paychecks. However, Total Compensation is everything your employer provides to you, including salary, benefits, time off, and other employer paid services. Human Resources will continue to benchmark salaries of staff and benefit plans to advance the competitiveness of our total compensation program.
Benefits Open Enrollment Period
October 1 – 16, 2015
Value-added changes in benefits in 2016
Your benefits are part of your total compensation package at Georgia Regents Medical Associates! 2016 will see positive benefit changes! For example, no premium increases for the medical plans, an increase in the HSA Family plan annual contribution limit, and pharmacy co-pay changes.
The Choice HDHP will have an embedded $6,550 out of pocket maximum for 1 person in a Family Option (EE + Child/ren, EE + Spouse or Family), beginning in 2016. There will also be changes in the pharmacy co-pay structure as well.
Health Savings Accounts
The federal guidelines for 2016 allow additional annual contributions to your HSA Family plan. An additional $100 may be contributed into the family plan account. There were no federal updates to the individual plan maximum contribution amount for 2016.
Wellness incentives for employees in the Choice Plan (high deductible health plan) will be enhanced in 2016. The biometric screening and health risk assessment will still be required, as is the requirement for anyone participating in the incentive program to have both biometric screening and HRA completed between November 1, 2015 and May 31, 2016.
Do I Have to Enroll?
If you are not making changes to your health/dental plans for 2016, you do not have to do anything. If you are making changes, you will need to complete the necessary enrollment change form, spousal attestation (if applicable) and provide documentation of dependent status if you are adding any dependents. Documentation includes the following: for a spouse, a marriage certificate; for a child/ren – a birth certificate, legal guardianship, adoption papers, etc. You may also use last years’ tax return (first page which lists all dependents) as documentation.
Whom Do I Contact With GRMA Benefits Questions?
If you have questions once the open enrollment information is sent out in late September, GRMA employees can contact Lauren Neville or Tammy Trenary. Contact information is provided below.