Author: sipiorsk@uwgb.edu

A new prescription drug cost compare tool is available to all group health insurance program participants in the member portal on the Navitus website. The tool provides cost comparisons for prescription drugs at pharmacies in your area.

Steps:

1. Log into NAVI-GATE for Members at navitus.com, or register if it is your first time accessing the member portal
2. Select the “Cost Compare” tool on the left side of the screen
3. Choose yourself or a family member
4. Enter specific drug information into the search field or search your own medication history (Note: It is helpful to have your drug container near you.)
5. Enter location information into the search field

The results will compare your out-of-pocket costs for your drug. You can also set up a helpful reminder to come back and check prices in the future.

 

IRS Tax Form 1095-C is available online in the MyUW portal.  Log into the portal for UW System institutions. The statement is located in the Payroll Information module under the Tax Statements tab. Paper copies of the 1095-C were mailed to employees via U.S. mail in February 2017 using the same address as the W-2 Form distribution.

The UW System is providing Form 1095-C to all employees who were full-time, as defined by the Affordable Care Act (ACA), for all or some months of 2016. The information on this form will be used by the IRS to determine whether individuals and/or employers are subject to penalties under the ACA’s individual and employer mandates. Employees should retain Form 1095-C with their tax records.

In addition to Form 1095-C, some employees will receive a Form 1095-B from their insurance carrier. Form 1095-B reflects health insurance coverage provided to an employee or their family member(s) during the previous calendar year. Form 1095-B also documents employee compliance with the ACA Individual Mandate. Employees should retain Form 1095-B with their tax records.

For more information regarding Form 1095-C, Form 1095-B and the ACA, visit https://www.wisconsin.edu/ohrwd/aca/.  If you have questions regarding your Form 1095-C, contact the UW System’s third-party administrator, Businessolver at 1-844-215-5100. If you have any questions regarding Form 1095-B, contact your health insurance carrier that provided the form.

As you may be aware, the Group Insurance Board (GIB) approved a motion on February 8, 2017 to move to a self-insured health insurance model for State Group Health effective January 2018. Under the self-insured model, the Department of Employee Trust Funds (ETF) would hold health insurance funds in a reserve to pay individual health care claims instead of paying health insurance companies a fixed dollar amount for employee health insurance.   ETF has developed a 5 minute video that helps explain the self-insurance concept. The proposed self-insured funding model requires approval by the State Legislature.

Along with moving to a self-insured model, the GIB also approved changes to the service model to regionalize the health plans, dividing the state into four regions.  This regionalization will move the State Group Health Insurance from 17 options to 6 regional options.  In addition, there will be 1 statewide/nationwide option.  Brown County and the greater Green Bay area will be under the Eastern region, with two regional vendors, Anthem Blue Cross Blue Shield and Network Health Administrative Services.

 

Why the change?

The Board’s decision was based on a potential taxpayer savings of an estimated $60 million over the 2017-2019 biennium, with additional savings predicted in future years.  The new structure will provide the same level of benefits to employees, while retaining access to 98% of current plan providers, according to the Board’s consulting actuary.

 

Will my health insurance premiums increase?

A self-insurance model or moving to regions does not mean higher premiums or out-of-pocket costs.  Uniform benefit cost sharing (copay/deductible/coinsurance) is expected to stay the same in 2018 and premium contribution amounts are not available yet, but will be provided during the Annual Benefits Enrollment period this fall.

 

Will I need to choose a new health plan?

Yes, all employees enrolled in the State Group Health Insurance will need to evaluate health plan information and providers when the information is provided during the Annual Benefits Enrollment period this fall.

 

How can I learn more?

For more information on coverage areas, providers and an action step timeline, please visit the ETF Site.

 

We will continue to communicate with you as we have more information available.  As always, please contact out office at (920) 465-2390 or payrollandbenefits@uwgb.edu with any quesitons.

 

 

 

 

 

 

America Saves Week, a national campaign encouraging savings and financial planning, is February 27 – March 4, 2017. The University of Wisconsin is a partner in the America Saves campaign and has many resources and events planned to help UW employees expand their financial knowledge and set new savings goals.

Take a look at the UW’s America Saves website which lists all of the resources and events planned throughout the state. In-person events include workshops on valuable financial wellness topics presented by the UW Credit Union, Summit Credit Union, TIAA, Fidelity, T. Rowe Price, Ameriprise, Lincoln, UW faculty members and Tax-Sheltered Annuity Program staff, as well as credit report consultations and individual counseling. The UW is committed to helping you plan, save, and build wealth, so you can fulfill your long-term goals.

Click here to find out more information regaring the Achieving Financial Goals Workshop being held on campus and go to the website to view live, interactive webinars and videos, and read handy tips and information on savings and financial wellness. Visit the website often in the coming weeks as more information and events may be added.

America Saves will keep you motivated with information, tips, and reminders to help you reach your savings goal. Think of them as your own personal support system.

America Saves Week is an opportunity to commit—or recommit—to saving for today and for the future. Saving is more than just a good idea. It’s possible!

Date: Tuesday, February 28, 2017

Time: 9:00 a.m. – 10:00 a.m.

Location: University Union, Room 103

Meet Jennifer Almeida of T. Rowe Price, one of the companies with your UW Tax-Sheltered Annuity 403(b) Program.

Jennifer will explore your personal financial goals for retirement and how to balance them with life’s other financial priorities such as:

• Building emergency savings
• College savings
• Paying down debt
• Addressing competing priorities

You’ll also explore planning tools and resources from T. Rowe Price that can help you along the way.

Register for the workshop at:  http://rpstrowepricereg39.fugent.com/home/events.asp 

Individual Counseling Sessions will be available after the workshop in UU Room 103.

Register for an individual counseling session at:  http://rpstrowepricereg38.fugent.com/home/events.asp

The opportunity for staff and faculty to purchase a spring meal plan using payroll deduction has arrived.  This opportunity is open through Feb. 10, 2017 for post-tax deduction from your payroll starting March 2 (University Staff) or March 1 (Academic Staff & Faculty).  There are five options to choose from including:

• FAST 75 Block Plan – includes 75 meals plus $25** in FAST Points – Cost $425 . . . cost per meal $5.66
• FAST 50 Block Plan – includes 50 meals plus $25** in FAST Points – Cost $290 . . . cost per meal $5.80
• FAST 25 Block Plan – includes 25 meals plus $25** in FAST Points – Cost $155 . . . cost per meal $6.20
• FAST 300 Points Plan – includes $315 in FAST Points – Cost $300.00 (Spring 2017 Special – $15 in bonus FAST Points)
• FAST 200 Points Plan – includes $215 in FAST Points – Cost $200.00 (Spring 2017 Special – $15 in bonus FAST Points)

*All New/First-time FAST 75 Block Plan customers, as well as all FAST 75 Block Plan renewals from the Fall plans will receive a Free reusable mug that includes unlimited free refills of coffee and fountain soda beverages at all retail locations on campus.

**Chartwells is sponsoring the $25 for the Block Plan FAST Points and the bonus $15 in FAST Points on the 200 & 300 plans!

Please complete the form found here: FAST Meal Plan Deduction Request – to enroll in meal plan. 

FAST Meal Plans and FAST Points

FAST Points are not new to UW-Green Bay.  They have been in place for 3-4 years.  They are pre-paid declining balance funds you can purchase and load onto your official University ID for use at any Chartwells-managed food serving location on campus.  This spring, through February 10, the FAST 200 and 300 Points Plans include $15 in bonus FAST points through the generosity of Chartwells.  When customers use their “points” in the Marketplace they will receive a $0.50 discount bringing the net cost of breakfast to $5.75, lunch to $6.25, and dinner to $6.75 (+ sales tax).

FAST Meal Plans are new to UW-Green Bay and serve as option for staff and faculty to purchase meals in a larger quantity at prices-per-meal lower than paying with cash, credit or points.  This Spring’s FAST 75 Block Plan, at the cost of $425, equates to a cost-per-meal of $5.66 plus there are $25* in FAST Points for when you don’t need or want a full meal.  For this spring, a new all stainless steel mug is being given to new and renewing FAST 75 Block Plan customers.  In addition, all FAST Plan customers will receive a reusable To-Go container to use for take-out meals from the Marketplace inside Leona Cloud Commons.  Details on how to use the To-Go containers will be shared with all who participate and eventually posted on-line (https://new.dineoncampus.com/uwgb). The block meals and FAST points on all FAST Plans will remain on your University ID account until they are used.  They can also be used for combo meals in the retail operations.

 

 

 

The Income Continuation Insurance (ICI) program is an ‘income replacement’ benefit plan that replaces up to 75% of your gross salary if you are unable to work due to a short or long-term disability.

If you are not currently enrolled in ICI, you may be able to enroll during the ICI Deferred Enrollment period through March 1, 2017.  Eligible employees will be personally notified by email from the UW System HR (uwsystemhr@uwsa.edu) email address.

Please see https://www.wisconsin.edu/ohrwd/benefits/dis/ici/ for more information regarding eligibility and income continuation insurance benefits.

To apply for coverage through the Deferred Enrollment opportunity, you must complete an Income Continuation Insurance Application (ET-2307) and return it to your benefits office on or before March 1, 2017.  ICI coverage elected through deferred enrollment will be effective April 1, 2017.

Please contact Human Resources at (920) 465-2390 or payrollandbenefits@uwgb.edu with any questions.

The State of Wisconsin Investment Board has announced preliminary 2016 investment returns of 8.5% for the Core Trust Fund and 10.6% for the Variable Trust Fund. How will this affect your Wisconsin Retirement System account?

The projections below are based on preliminary 2016 investment returns. ETF will announce the actual effective rates and annuity adjustments after final investment returns have been determined and an actuarial analysis is completed. Watch for announcements in February (effective rates for active employees) and March (annuity adjustments for retirees).

Shared Investment Risk
WRS members benefit from good investment returns and share the risk of poor returns. Changes in employee and employer contribution rates, for example, are linked to Core and Variable Trust Fund investment performance. Likewise, annuity adjustments for retirees are linked to investment performance. This “shared risk” design keeps the WRS well-funded and able to pay promised benefits long into the future.

Plan Ahead
No matter your timetable for retirement, it’s important that you know about and fully understand your retirement benefits. This includes the fact that the WRS does not provide a guaranteed cost-of-living adjustment (COLA) in retirement.
In addition, did you know:

• Some pension systems provide COLAs in order to help retirees keep up with inflation over the long term. Under the WRS, post-retirement annuity adjustments are by law dependent on WRS trust fund investment returns.
• WRS retirees routinely receive annuity increases above the cost-of-living adjustment for Social Security; for 2016 Social Security increased only 0.3%.
• When retired, your Core annuity can never go below your original payment (“floor”).
• However, annuity adjustments can increase or decrease each year, based on trust fund investment performance and actuarial factors.
• When there is a market downturn, annuities can be lowered by repealing previously-granted increases.

For more information:

• See ETF Secretary Robert Conlin’s column about the best advice he received as a new employee regarding saving early and saving often.
• Participate in an ETF webinar on these topics – don’t delay – registration is required and space is limited!
  • Webinar: WRS Annuity Adjustments and Effective Rates
  • Recorded Webinar: Variable Fund
• Check out the helpful resources on this Core/Variable Information web page.

To receive immediate notification about WRS effective rates, annuity adjustments and other benefit-related news, sign up for ETF E-Mail Updates.

 

 

 

 

The Department of Employee Trust Funds (ETF) is pleased to offer a convenient, new service for WRS members who are within a year of retirement: Virtual Retirement Appointments.

These appointments are secure, one-on-one meetings with an ETF benefits specialist, conducted online.  Together, you and the specialist talk by telephone and view online your retirement estimate, annuity options and discuss the retirement process in general.  Virtual appointments are convenient (no travel necessary) and easy to schedule.

Find out whether a virtual retirement appointment is right for you – contact ETF at 1-877-533-5020.