The 2010 Annual Benefits Enrollment period to make new elections begins on Monday, November 9th and concludes Friday, November 20th.  We have listed below Key Things to Know as we approach this year's enrollment period.  Additionally, you will find below links to the plan highlights, the Enrollment Calendar of Events and benefit plan information.

1.  Aetna Medical Premiums increased 12.1% - however, your contribution increase was held to 4.5%!

As the cost of health insurance continues to rise across the nation, so does the cost to us here at Bates. The overall 2010 premium increase to the College is 12.1%.  While this figure may be shocking, this increase would have been higher if we had not negotiated an increase cap with Aetna when we switched carriers last year. 

While the overall premium cost has increased 12.1%, the College is going to hold the increase in your contribution to 4.5% (click here for specific rate information).  We are able to minimize the increase to your contribution by using a portion of the Health Insurance Reserve that was built in prior years.  Additionally, a Cost Saving Initiative proposal to change the premium payment method for couples working at Bates resulted in additional savings without a change in contribution levels for the insured couples. 

Although we still have reserve remaining, it will take only one or two years of trying to offset high percentage increases to wipe out the reserve and so we must take steps to reduce our premium expense.

2.  There are no plan design changes for the medical or dental plans in 2010.

The Aetna HMO, PPO and Dental Plans have the same plan designs as last year.  There has been no changes to deductibles, co-pays, your share of covered services or out-of-pocket limits.  To view the plan summaries please click here.

3.    Enrolling with the Default Enrollment Form.

If you are making no changes to your medical, dental or life insurance elections you may enroll using your Default Enrollment Form.  Your Default Enrollment Form lists what each of your elections will cost you in 2010 and provides space at the bottom to make your healthcare or Dependent Care Reimbursement Account contribution(s) election. 

If enrolling in the Dependent Care Reimbursement Account, do not forget to complete the Dependnet Care Subsidy form on the reverse side of your Default Enrollment Form.

4.  To continue participating in your Healthcare or Dependent Care Reimbursement Accounts in 2010 you must make new elections.

The Healthcare Reimbursement Account (HCRA) and Dependent Care Reimbursement Account (DCRA) allow you to save taxes by paying for eligible expenses with before-tax dollars. Due to tax savings, the IRS requires any unused contributions to be forfeited; you must estimate your eligible expenses carefully.

When making your Reimbursement Account (both Healthcare and Dependent Care) contribution election for 2010, please determine if you will have any contributions left over from 2009. As a reminder:  2009 contributions can be used to reimburse expenses incurred up until March 15, 2010.  Click here for more information on the Reimbursement Accounts.

5.  You will have many opportunities during this year’s Annual Benefit Enrollment to learn about your benefit options and to ask questions.

The Annual Benefits Enrollment will be from Monday, November 9th to Friday November 20th. In addition to regular, daytime meetings, HR will host two evening meetings so that your significant others may learn about your benefit election opportunities. 

The Annual Enrollment Benefits Fair will be on Thursday, November 19th from 11:00 a.m. – 2:00 p.m.  We have not yet received word from the distributor regarding the availability of flu shots by the Benefits Fair.  If they are received by the 19th, we will have them available at the Benefits Fair.  More information will be provided as it becomes available.

Click here for a calendar of meeting subjects, times and locations.

6.  To ensure that you are prepared for this year’s Annual Benefit Enrollment, have information ready that will help you make benefit elections that are right for you and for your family.

Annual Enrollment is a good opportunity to become familiar with how the plans pay for medical services. Please remember that you are not able to make changes to your benefit elections once the calendar year begins unless you have a qualifying event.  We urge you to take this opportunity to ask questions and make informed choices regarding your benefit plan options.