Open Enrollment – From an Employee’s Perspective
Park University will have our annual Open Enrollment period for employee benefits February 10 through February 18, 2014. Following is how one employee might react to this news.
8 a.m. – Personally, I hate Open Enrollment. For those of you unfamiliar with the term, Open Enrollment is that time each year when employees sign up for which health benefits we want. It seems like there is always something new. I’m not a guy who loves change just for fun, but if there is one thing I don’t really like to change is my health insurance – it’s just a hassle. But, I’ll go to the meeting this afternoon – see what they have to say – and go from there.
11 a.m. – This is just great. I just heard a rumor that in Open Enrollment, not only are there some plan design changes and the rates might go up, but they are also changing carriers to CIGNA. This is gonna be bad – I can feel it.
12:00 – Okay, I feel a little better. I went to www.cigna.com and looked at their physician directory. My wife’s doctor and our pediatrician are both in the network. So is our area hospital and the specialist I’ve been seeing. I may have to find a new family doctor, but I’m not really crazy about the guy I’ve been seeing so maybe that won’t be a big deal. I’ll find out more this afternoon.
1 p.m. – Off to the meeting!
2:30 p.m. – Okay, that wasn’t near as bad as I expected. First, CIGNA sounds like a good company – very large – good customer service – they said that the top 10 hospitals and top 25 doctors that employees used with United Healthcare are all in the CIGNA network. They told us that over 98% of employees live from 2-10 miles from a CIGNA primary care doctor, specialists and hospitals. That’s a pretty good network. They also passed out Physician Nomination forms so if I want my doctor to be in the CIGNA network, I fill out this form and CIGNA will try to sign him up – but maybe I don’t want them to, he’s a little odd.
The other good news was rates. Some went up – about 5%, but the plan with the HSA went down, plus Dental and Vision went down. I’m going to spend about the same – for the third year in a row. You can’t beat that. They said that Obamacare added about 4-5% of the rate increase. Obamacare also caused a change in the plan design which is why the deductibles and out of pocket maximums went up a little.
Plus, I can buy some more life insurance on me – no questions asked – and no changes to the Flex plan. Because of the higher deductible in the medical plan I’ll put another $500 in flex and actually come out about even on the deal.
With all the hoopla in the news about healthcare and Obamacare, I’m glad to see that at least for now, it’s mostly much-ado-about-nothing.
I guess I better log into Paycor and enter my information. Maybe I’ll win one of those gift cards – icing on the cake, baby!
Additional information about Open Enrollment and all employee benefits is available on MyPark–>Offices–>Human Resources. If you have any questions about Open Enrollment or any of your employee benefits please don’t hesitate to contact any member of the Human Resources Team