2018 Intel retiree 2018 Intel retiree Medical plan Medical plan - - PowerPoint PPT Presentation

2018 Intel retiree Medical plan Changes

IRMP Cigna High Deductible Health Plan (HDHP)

The information in this presentation is not intended to take the place of, or change official plan documents in any way. In the event of a discrepancy between the information in this presentation and official plan documents, the official plan documents will prevail. Intel reserves the right to modify, change,

• r discontinue benefit plans at its sole discretion.

2018 Intel retiree Medical plan Changes

IRMP Cigna High Deductible Health Plan (HDHP)

The information in this presentation is not intended to take the place of, or change official plan documents in any way. In the event of a discrepancy between the information in this presentation and official plan documents, the official plan documents will prevail. Intel reserves the right to modify, change,

• r discontinue benefit plans at its sole discretion.

For Non-Medicare Eligible Intel Retirees

Presentation Content

• Annual Enrollment Timeline
• Non-Medicare Eligible Intel Retiree Health

Overview

• What’s Changing?
• IRMP Cigna HDHP compared to Coinsurance
• IRMP Cigna HDHP Prescription Benefit
• How to look up individual drug costs
• Health Savings Account
• Frequently Asked Questions
• Intel Paid COBRA (ERP) transition options
• What you need to do
• Resources

November 1 through 30, 2017

Benefit elections take effect January 1, 2018

Intel Retiree Health Benefits ANNUAL Enrollment

IMPORTANT NOTICE

About COBRA Coverage

If you’re enrolled in COBRA, and your COBRA coverage ends before the end

• f 2017, you will need to enroll in a

health plan (e.g., IRMP, Marketplace or individual coverage) for the remainder

• f 2017 to ensure you do not have a

lapse in coverage. Take time to review the 2018 Retiree Health Benefits Annual Enrollment Guide to consider your retiree benefit

• ptions for next year. For more

information, call the Intel Health Benefits Center at 877-GoMyBen (466-9236). Representatives are available Monday through Friday, from 6:00 a.m. to 6:00 p.m. Pacific.

Intel Retiree Health Benefits

If you are a retiring U.S. employee, and have satisfied the Intel retirement eligibility requirements, Intel offers multiple benefit

• ptions for Non-Medicare eligible

retirees/dependents, helping you get the coverage you need:

• Intel Retiree Medical Plan (IRMP)
• IRMP Vision
• The Sheltered Employee Retirement Medical

Account (SERMA)

OVERVIEW

What’s changing?

• New plan design: The IRMP Cigna High Deductible Health Plan (HDHP) is

replacing the IRMP Cigna Coinsurance Plan

• Same Cigna network, so you can keep your doctors, hospitals, specialists, pharmacies and
• ther healthcare providers you know and trust.
• When and how you pay for Prescription drugs is changing: Under the IRMP Cigna HDHP,

you pay the actual cost (not a copay) for covered prescriptions until you meet your annual deductible.

• Open a Health Savings Account (HSA)* with HealthEquity and utilize tax-advantaged

dollars for qualified health and medical expenses.

• IMPORTANT: If you’re currently enrolled in the IRMP Cigna Coinsurance option and you

make no benefit election changes, the coverage you have today will default to the IRMP Cigna HDHP on January 1, 2018.

• You’ll receive your new ID Card by last week of December 2017.

* HSA is not an Intel-sponsored benefit; eligibility requirements apply, and contribution limits are set by the IRS.

• Vision Service Plan (VSP) – Vision Plus monthly premiums are increasing

NON-MEDICARE ELIGIBLE INTEL RETIREE

Typically under age 65

IRMP Cigna HDHP

High Deductible Health Plan

NEW PLAN

IRMP Cigna HDHP

OLD PLAN

IRMP Cigna Coinsurance Plan

MONTHLY PREMIUM You only $1,088

You only $1,088

ANNUAL DEDUCTIBLE

$1,495 You only $3,000 You + Child(ren) $3,755 You + Spouse or Family Combined in and out-of-network deductible $600 Individual $1,200 Family Separate in and out-of-network deductible

COINSURANCE 10% in network; 40% out-of-network

20% in network; 40% out-of-network

OUT-OF-POCKET MAXIMUM

$2,245 You only $4,485 You + Child(ren) $5,555 You + Spouse or Family Combined in and out-of-network out of pocket maximum $3,000 Individual $6,000 Family Separate in and out-of-network out of pocket maximum

PRESCRIPTION BENEFIT

Actual cost of the drug while in the deductible, 10% coinsurance after deductible is met $10 copay generic (retail), 20% coinsurance/$25 minimum preferred brand; 40% coinsurance/$40 minimum non-preferred brand

IRMP HDHP comparedto IRMP Coinsurance

The IRMP Cigna HDHP

is most similar to a

Gold Plan

in the Marketplace. Individual Marketplace Gold plan premiums range between $1,100 and $1,500 per month per individual*

HOW THE IRMP CIGNA HDHP WORKS

COST TO YOU IF SERVICES ARE RECEIVED BEFORE

you have met the deductible

COST TO YOU IF SERVICES ARE RECEIVED AFTER

you have met the deductible

Hospital submits bill $50,000.00 Hospital submits bill $50,000.00 IRMP Cigna HDHP allowed amount $11,951.00 IRMP Cigna HDHP allowed amount $11,951.00 Your IRMP Cigna HDHP deductible $1,495.00 Your IRMP Cigna HDHP deductible (already satisfied) $0.00 Your coinsurance amount (10% of allowed amount) $1,045.60 Your coinsurance amount (10% of allowed amount) $1,195.10 IRMP Cigna HDHP pays (90% of allowed amount) $9,410.00 IRMP Cigna HDHP pays (90% of allowed amount) $10,755.90 Your out-of-pocket on IRMP Cigna HDHP ($1,495 deductible plus the $1,046 coinsurance) $2,541.00 Your out-of-pocket on IRMP Cigna HDHP ($0 deductible plus the $1,195.10 coinsurance) $1,195.10

EXAMPLES

are based on the out-of- pocket cost for retirees enrolled as ‘You-only’ and using in- network services

Prescription Benefit

NEW PLAN IRMP CIGNA HDHP OLD PLAN IRMP CIGNA COINSURANCE Example Drug

Your Cost

Humilog 10 ml vial (Brand Formulary) BEFORE deducible is met $253.82 $761.47 $50.76 $150.00 AFTER deducible is met $25.38 $76.14 $50.76 $150.00 Atorvastatin 80 mg (Generic) BEFORE deducible is met $11.44 $30.29 $10.00 $20.00 AFTER deducible is met $1.14 $3.02 $10.00 $20.00

IRMP Cigna HDHP PrescriptionBenefit

Member Services: 800.899.2713 Member Website: express-scripts.com Open Enrollment Website: express-scripts.com/inteloe

Prescription benefit is administered by Express Scripts

No change in the prescription formulary. Formulary status of your medications may change based on the market and new product launches (e.g. generic becomes available). To find current formulary status of your medications, go to www.express-scripts.com/inteloe or call Express Scripts at 800-899-2713.

• ptions for the 2018 plan year here.

Step 1

Step 2

Step 3 Step 4

Step 5

Step 6

Health Savings Accounts (Hsas)

If you enroll in the IRMP Cigna HDHP you’ll be auto-enrolled in a HealthEquity HSA*.

For more information go to http://healthequity.com Or see IRS Publication 969 for details on how to use an HSA https://www.irs.gov/pub/irs-pdf/p969.pdf

*HSA is not an Intel-sponsored benefit; eligibility requirements apply, and contribution limits are set by the IRS. Intel has partnered with HealthEquity for your convenience. You do not have to use HealthEquity for your HSA.

YOUR HDHP HSA

How to use an HSA

*Post Tax contributions may be made. See IRS Publication 969 for details on how to use an HSA: https://www.irs.gov/pub/irs-pdf/p969.pdf **Qualified medical expenses for you and your eligible dependents include copays, coinsurance, deductibles.

2018 HSA Contribution Limits

• Individual = $3,450
• Family = $6,900
• Catch Up (age 55+) = $1,000

Advantages of having an HSA

• Tax deductible contributions*
• Tax-free withdrawals for qualified medical expenses**
• Interest accrues in the HSA tax-free
• The accounts are “portable,” meaning they stay with

you even if you change jobs or leave the workforce

• Penalty free withdrawals for non-qualified medical

expenses (once Medicare eligible) It's important to understand how to use an HSA to maximize your dollars and manage your budget.

FAQs

Get answers to Frequently Asked Questions on the Intel U.S. Retiree Portal at:

www.intel.com/employee/retiree

COBRA

Continuation of Health Insurance Coverage

If you are enrolled in COBRA and your COBRA coverage ends in 2017, please ensure you:

• Understand when your COBRA coverage period ends

You have 30 days to enroll in IRMP once your COBRA coverage period ends.

• Example:
• If your COBRA coverage period ends 11/30/2017, you have until 12/31 to enroll in

IRMP coverage effective 12/01/2017. Note you will also be given an opportunity to make your IRMP Annual Enrollment elections effective 1/01/2018

• If your COBRA coverage period ends 12/31/2017, you have until 1/30/2018 to

enroll in IRMP coverage effective 1/01. You can accomplish this by completing your IRMP Annual Enrollment.

• Review all your options for medical coverage
• IRMP
• Health Insurance Marketplace
• Other (i.e. employer group or individual)
• Enroll in coverage to ensure you do not experience a lapse in

coverage (A lapse in coverage could impact your cost and/or eligibility)

The Intel Health

Benefits Center

has resources to assist you

Online resources:

www.intel.com/go/myben

Phone:

877-GoMyBen (466-9236)

What you need to do

1. Review your options 2. Complete your Annual Enrollment elections

IMPORTANT: If you’re currently enrolled in the IRMP Cigna Coinsurance option and you make no benefit election changes, the coverage you have today will default to the IRMP Cigna HDHP on January 1, 2018.

RESOURCES