The Road to Healthy
Starts Here
2015 Open Enrollment
Presentation – Employees
Recording Details:
866-582-1908
November 2014
What We’ll Talk About Today

Open Enrollment overview

The rules of the road

Be Engaged. Get Rewarded. Spread the word with
your coworkers!!

Enhancements and changes for 2015

Choosing the right medical plan for you

Resources along the way

Next steps
2
2015 Open Enrollment Overview

Open Enrollment begins Monday, November 10 at noon and
ends Friday, November 21 at midnight

This is your once-a-year opportunity to elect to enroll or
participate in the following TD Bank benefits, including:






Medical
Health Savings Account (HSA)
Dental
Vision
Flexible Spending Accounts (FSAs)
Life Insurance

You will enroll online through TD Bank’s MyHR system

The benefits you elect will go into effect January 1, 2015
3
2015 Open Enrollment Overview
If you actively enroll by November 21…
Pay the engaged
medical premiums
Participate
in certain
reimbursement
accounts
Make and receive
HSA contributions
4
You must be covered in 2015
The Individual Mandate provision of the Affordable Care Act
requires most U.S. citizens to have health insurance
If you are eligible for
TD Bank medical coverage

TD Bank’s health insurance helps
pay for your and your family’s
medical care

You can enroll in a TD Bank medical
plan for 2015 during Open
Enrollment

November 10 – November 21

Majority of Employees are eligible
for TD Bank medical coverage

TD Bank’s medical plans meet the
law’s requirements for coverage and
affordability
If you are NOT eligible for
TD Bank medical coverage

You will be required to have
health insurance for yourself and
your children

You will need to get health
insurance from another source
 Health Insurance Marketplace
 Parent’s plan (if under age 26)
 Spouse’s plan
 Medicare or Medicaid
5
You must be covered in 2015
If you do not have health insurance in 2015, you will pay a
penalty based on your income and family status...
$325 or 2% of annual income
(whichever is greater)
Remember, you can get coverage from several sources...
Your employer,
including TD Bank
Your spouse’s
employer
Health
Insurance
Marketplace
Your parent’s
plan (if you are
under age 26)
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Know The Rules Of The Road
Know who you can cover...

An important piece of
managing the cost of
coverage for Employees
and TD Bank is making
sure coverage is provided
only to eligible Employees
and their eligible
dependents

TD Bank will be
conducting a Dependent
Eligibility Review in 2015;
more information will be
provided in early 2015
7
Know The Rules Of The Road
Know how to make benefit changes during the year...
8
POLL
Today’s Journey Will Cover...
Get rewarded for
being engaged
TD Bank’s
Investment in you
Next steps
Important benefit
changes for 2015
Your 2015
medical plan options
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Be Engaged. Get Rewarded.
1
Actively enroll in a medical plan
during Open Enrollment .
(You must click on Edit to select the
Engaged Medical Plan choice in
MyHR in order to be Engaged, even
if you keep the same plan.)
2
Attest you do not use tobacco
OR commit to quitting tobacco
3
You are engaged and pay lower
medical plan premiums
80/60 Plan
70/50 + HSA Plan
TOBACCO
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Be Engaged. Get Rewarded.
Why is Tobacco targeted for Engagement in 2015?
•
We chose the word Engage
so that we can update our
focus annually, based on
our continuing journey
toward a healthier TD.
•
In the most recent report
from an Aetna Health Risk
Assessment completed by
TD Employees, 30% of
those responding indicated
they use tobacco products.
This is much higher than
the national average of
21%
•
Smoking is still the #1
preventable cause of death
in the US and the related
illness aligns with TD cost
drivers in our health plans.
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The Aetna Tobacco Cessation Program
To find out more or
enroll by phone at:
1-866-213-0153
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TD Bank and You
Building Our 2015 Budget
Aetna
Administrative
Fees
Claims
Projected Increases
in Services and
Cost of Care in 2015
Total Medical Plan
Budget
Total 2015 medical plan budget is $210 million
TD Bank share is $157 million
WITH our focus on INVESTING IN YOU
TD Bank Share
Employee
Share
$192MM
(Engaged)
Non-Engaged
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Important Benefit Changes
for 2015
Important Benefit Changes for 2015
Autism Coverage
TD Bank is expanding coverage for the treatment of
Autism spectrum disorders

Currently, TD Bank’s medical plans cover the diagnosis of
Autism only

In 2015, TD Bank will expand the treatment of Autism
spectrum disorders to include:


Physical/Occupational/Speech Therapy
ABA Therapy
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Important Benefit Changes for 2015
Aetna Choice POS II 80/60 Plan
TD Bank is adding out-of-pocket expense protection

The 80/60 Plan will have a separate out-of-pocket maximum for
prescription drug copays. Previously there was no out-of-pocket
maximum.

Copays for medical expenses will now apply to the medical out-of-pocket
maximum amounts, which are not changing.
Annual out-of-pocket maximum for medical services
$2,000 for individual coverage
$4,000 for family coverage
New for 2015, includes medical copays!
Annual out-of-pocket maximum for prescription drugs
$2,000 for individual coverage
$4,000 for family coverage
REMEMBER...
TD Bank covers
100% of costs for the
remainder of the year
once you meet the
out-of-pocket maximums
Includes prescription drug copays!
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Important Benefit Changes for 2015
Aetna Choice POS II 70/50 + HSA Plan
Per 2015 IRS guidelines, TD will make the following
changes to the 70/50 + HSA Plan
Increased deductible...
$2,600
Increased annual contribution limit...
Increased
by $100
EMPLOYEE ONLY COVERAGE
$5,200
Increased
by $200
OTHER COVERAGE LEVELS
The amount you and TD
can contribute is $3,350 for
Employee only coverage
and $6,650 for other
coverage levels
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Your 2015
Medical Plan Options
Your 2015 Medical Plan Options

TD Bank will continue to offer two national medical plans


Aetna Choice® POS II 80/60 Plan
Aetna Choice® POS II 70/50 and HSA Plan

Both plans provide comprehensive medical and
prescription drug coverage through Aetna

There are some important differences to consider, too...
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Important Terms We Will Use Today
Deductible
Coinsurance
Copay
Out-OfPocket
Maximum
The amount
you pay
before the
plan begins
paying
benefits.
Your financial
responsibility
after the
deductible
has been
met.
A flat fee that
you pay at
the time you
receive a
covered
service.
The
maximum
amount you
pay. The plan
pays 100%
of costs once
reached.
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Comparing Your 2015 Medical Plan Options
80/60 Plan
70/50 and HSA Plan
Employee Premiums
Higher Premiums
Lower Premiums
Annual Deductible
$1,000 Individual
$2,000 Family
Medical costs only
$2,600 Individual
$5,200 Family
Medical and prescription drug costs
TD pays 80% and you pay 20%
after you meet the deductible
TD pays 70% and you pay 30%
after you meet the deductible
$2,000 Individual
$4,000 Family
(includes copays)
$3,000 Individual
$6,000 Family
You always pay copay.
Copays apply to prescription drug
out-of-pocket maximum.
You pay the full cost until
you meet the deductible.
Then, you pay copay.
$2,000 Individual
$4,000 Family
Not applicable.
Prescription drug costs apply to
medical out-of-pocket maximum.
Medical Reimbursement Account
(FSA) $2550 Limit
Health Savings Account (HSA)
$3350/$6650
Coinsurance
Medical
Out-of-Pocket Maximum
Prescription Drugs
Prescription Drug
Out-of-Pocket Maximum
Tax-Advantaged
Savings Account
TD Bank
Health Savings Account
Contribution
Not applicable.
$500 Employee Only
$750 Employee and Spouse
$750 Employee and Child(ren)
$1,000 Family
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Tax-Saving Opportunities
Health Savings Account (HSA)
Flexible Spending Account (FSA)
• Only available with 70/50 and
HSA Plan
• Only available with 80/60 Plan
• You and TD contribute
• Only you contribute
• Tax-free contributions
• Tax-free contributions
• For deductibles, copays,
coinsurance, and premiums
• For deductibles, copays, and
coinsurance
• Can invest your account (once it
reaches $2,000)
• Cannot invest your account
• Unused balances roll-over to next • “Use it or lose it”
year
• IRS contribution limits
• IRS contribution limits
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Spotlight on Health Savings Account (HSA)
TD Bank
Contributions
Your
contributions
$500
Employee only
Including TD Bank’s
contributions, you
can contribute...
$750
Employees + spouse
Employee + child(ren)
Up to $3,350
Employee only
$1,000
Family
Up to $6,650
Family
Totally
tax-free
savings!
Interest +
investment
income
Once your balance
reaches $2,000,
you can invest
in a variety
of options through
JP Morgan Chase
If age 55 or older,
$1,000 “catch-up”
contributions per year
Triple tax advantage.
You pay no tax …
1
As dollars
go in!
2
As your
account grows!
3
As dollars come
out for eligible
expenses!
29
Choosing The Plan That’s Right For You
Pre-tax
Paycheck
Deductions
("Premiums")
Out-of-Pocket
Costs
Tax
Opportunities
Total Costs
30
Your 2015
Dental and Vision Benefits
Dental Benefit Enhancements
Expanding
coverage to
include adults in
2015
Increasing Orthodontia
Lifetime maximum to
$1,500 per person
32
Voluntary Vision Benefit Highlights
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Resources
Aetna iTriage Tool

Emergency Room use is still one of TD Bank’s top spends
$13.1
million
in past
year

8%
of total
budget
#5 driver
of costs
Aetna iTriage website and mobile app
helps you understand symptoms and
guides you to appropriate level of care


Emergency Room copay is $150 but
average total cost is $1,182
Urgent Care copay is $50 and average
total cost is $177
35
Resources - Benefits Contact Information
Online 2015 Benefits Enrollment
MyHR
Online Benefits Information
TeamWOW! Site
TD Benefits Support Team Hotline
1-866-217-9985, [email protected]
Aetna Member Services (Medical/Rx)
1-877-440-4709
Aetna Custom Website for TD Bank
www.tdbankaetnabenefits.com
24 HOUR NURSE Line – Informed Health®
1-800-556-1555
Vision Service Plan (VSP)
1-800-877-7195, www.vsp.com
Northeast Delta Dental (Dental)
1-800-832-5700 www.nedeltadental.com
LifeWorks - Employee Resource Programs
1-877-255-7544
Aetna (Disability)
1-866-721-2394
Group Dynamic (Flexible Spending Accounts)
1-800-626-3539, www.gdynamic.com
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Next Steps
Keep Your Eyes on the Road!
November 10
Open Enrollment
begins at noon
December 31
Deadline to have $0 FSA
balance (if you enroll in 70/50
and HSA Plan for 2015 and
want automatic contribution
from TD Bank)
November 21
Open Enrollment
ends at midnight
January 1, 2015
Your 2015 benefit
elections go into effect
March 15, 2015
Deadline to incur eligible
medical and dependent
care expenses under
2014 FSAs
March 31, 2015
Deadline to submit
2014 FSA claims
38
Take Advantage of Your Resources
Check TeamWOW! for an e-newsletter
highlighting important benefits changes and
information for 2015
Beginning October 29, access the eGuide on
TeamWOW! for details on all of your 2015 benefits
INSERT
eGUIDE
COVER
39
What To Remember

Eligible Employees need to take 2 steps to be engaged in 2015
1.
2.
3.

Actively Enroll through MyHR during Open Enrollment, You must click
on Edit and change your Plan Selection to the Engaged Plan.
The Engaged selection will include an attestation that you or any
covered adult dependents do not use tobacco or commit to completing
an Aetna 1:1 cessation program by next October 31, 2015 (covered
100% by TD).
That's it Steps 1 and 2 qualify for $520 in lower premiums.
The Open Enrollment dates

Monday, November 10 at noon and ends Friday, November 21 at
midnight

We offer 2 plans that are similar yet have different features to
meet the diverse needs of our population.

We are expanding coverage for Autism treatment in our medical
plans.

We are Investing in Your Health and Benefits, keeping increases
at a minimum when you are engaged
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