Please Read! The coverage you are being offered impacts your ability to get subsidized coverage via the Public Marketplace. Health Insurance enrollment is December 3 – 16.
November 30, 2016
RE: Affordable Healthcare Coverage for our employees and their families in 2017.
Dear IMI Employees:
You may have heard in the news that many insurance companies made changes to their health care offerings or raised their prices for 2017 in response to higher cost. We are very pleased that IMI Material Handling Logistics (IMI) was able to renew its current benefits program for 2017 at the same employee cost for almost all coverage options. Yes, we continue with the same insurance companies, the same benefits plans, and with no increase in employee cost (the only exception is a $3.00 increase in weekly premiums for MVP Employee & Children and MVP Family coverage).
The Affordable Care Act (ACA) mandates that individuals enroll in qualifying health insurance coverage or possibly pay a penalty when filing their federal tax returns.
IMI is pleased to offer two employee medical plan options that meet the base level requirements of the ACA for eligible individuals. After 60 days of full-time employment, employees are eligible to participate in these medical plans effective the first day of the following month. Full-time is defined as having worked an average of 30+ hours per week. This means all full-time employees working since Nov. 1 or earlier are eligible to participate in the 2017 medical insurance program and must contact the enrollment center (see contact information on the next page) to either enroll or decline coverage.
The first option is called the MEC Blue plan (MEC stands for Minimum Essential Coverage; it does not include hospital coverage). IMI is providing this coverage to you at a low rate of $20.00 per week. Additionally, you may decide to cover your dependents in MEC coverage at very affordable cost. Enrollment in the MEC Blue plan will exempt an individual from the ACA individual penalty. In other words, enrolled individuals should not have to pay a penalty on their next tax filing.
The second option is called the MVP plan (Minimum Value Plan; it includes hospital coverage). This plan is designed to provide comprehensive coverage for the most catastrophic and expensive types of care. IMI’s intent is to provide this MVP coverage to you at a cost that is within the affordability guidelines set by the ACA; this means the weekly rate should not exceed $58.00 for employee only coverage. You may also enroll your dependents in MVP coverage but it will cost up to $126.00 per week. Enrollment in the MVP plan will also exempt an individual from the ACA individual penalty.
Please note that the MVP plan has a $2,000 annual deductible per person. This means that any hospital or prescription expense has to be paid out of pocket until the $2,000 deductible is met. Then, the excess expenses are covered at 90% according to the Medicare rate schedule. The covered person is responsible for the difference in cost, up to an annual out-of-pocket maximum of $6,450.
It is important that you understand that the offer of this Minimum Value Plan at affordable pricing, as determined by the ACA, means that you will likely not be qualified to receive subsidized coverage from the public marketplace (www.Healthcare.gov). You can secure coverage through the marketplace, just without a subsidy, which means a higher premium cost than the IMI offer.
Employees can choose either the MEC Blue or the MVP plan for medical insurance or decline medical insurance altogether by contacting the enrollment center below between December 3-16. An employee can also add the following supplemental insurance benefits offered by Transamerica
- Hospital Indemnity Insurance and/or
- Dental Insurance and/or
- Short-term Disability Insurance
to the MEC Blue or the MVP plan as a voluntary option. If an employee does not enroll in the MEC Blue or the MVP plan, he/she may not get another chance to enroll in the IMI-provided benefits plans until there is a qualifying life event change or the open enrollment window for 2018.
All employees currently enrolled in the MEC or the MVP medical plans and/or the Transamerica optional insurance benefits will automatically be re-enrolled in the same coverage for 2017, unless they contact the enrollment center with any changes. All other employees who have been working since November 1, 2016 or earlier MUST access the web-based enrollment center or call to sign up for 2017 medical benefits or decline coverage. Information about the benefit plans and the employee payroll deductions are available at the enrollment center as follows:
As of Saturday, Dec. 3, you can GO ONLINE TO: imi.signupforbenefits.com
Example: John Smith with a social of 999-91-2345 would be “smi12345” (all lowercase). The default password will be “ChangeMe”.
(866) 354-1327 to enroll over the phone.
Remember that IMI’s offering of a Minimum Value Plan means that you will likely not be qualified to receive subsidized coverage from the public marketplace (www.Healthcare.gov) for yourself. Coverages selected through IMI are deducted via payroll.
Employees currently on Vision benefits will continue their coverage in 2017. Employees wishing to enroll in Vision coverage should email Kim Reuvekamp at email@example.com or call 1-877-464- 4484, ext. 103.