Health Benefits Fairs conclude this week; some open enrollment tips



HeathCareRatification-postcard-FINAL_Page_1• Benefits Fairs:

Here is the schedule of final health insurance open enrollment Health Benefits Fairs that wrap up Nov. 21 in Bellevue:

Olympia
November 18, 2014
11 a.m. to 1 p.m.
General Administration Auditorium
210 11th Avenue SW

Shoreline
November 19, 2014
12:30 to 2:30 p.m.
Shoreline Conference Center Lobby
18560 First Avenue NE

Lakewood
November 20, 2014
9 to 11 a.m.
Clover Park Technical College
McGavick Conference Center
(Building 23), Room 301
4500 Steilacoom Boulevard SW

Tacoma
November 20, 2014
1 to 3 p.m.
Tacoma Community College
Harned Center for Health Careers
Building, 1st floor
6501 S. 19th Street

Bellevue
November 21, 2014
1 to 3 p.m.
Bellevue College
Cafeteria Building C
Rooms C120 A & B
3000 Landerholm Circle SE

Open enrollment tips from the Public Employees Benefits Board:

• Check your beneficiaries

Open enrollment is a good time to check your beneficiary information for your PEBB life insurance and your health savings account (HSA), if you have one. Not only is it important to be sure you have the person you currently want designated as your beneficiary but also that the contact information addresses, etc. are correct and up-to-date.

While you’re at it, if you have other insurance or financial accounts (for example, retirement accounts), you may want to check those as well.

Here is how to find your current PEBB beneficiaries and change them if you wish:

Life Insurance.Ask your personnel, payroll or benefits office at work who you have designated as your beneficiary. If you want to change beneficiaries, go to www.hca.wa.gov/pebb, and select Get a Form. Under Life Insurance, select the Life Insurance Beneficiary Change form. The link will take you to the Voya Financial Beneficiary Designation form (#7384w). Complete the form and submit it to your employer.

HAS. If you have an HSA, go to the HealthEquity website and log into your account. You can name or edit your beneficiary information under the My Profile link, or complete the Beneficiary Designation form and mail or fax it to HealthEquity.

• Consumer Directed Health Plans with a Health Savings Account

The PEBB Program offers consumer directed health plans (CDHP) with a health savings account (HSA) through Group Health, Kaiser and Uniform Medical Plan (UMP). If you are currently enrolled in a CDHP or are considering enrolling in a CDHP for 2015, here are a few reminders:

The CDHP has a lower monthly premium balanced with higher annual deductibles and higher out-of-pocket maximums.

To enroll in a CDHP, you must meet the eligibility requirements of the HSA.

The maximum contribution to the HSA for 2015 is $3,350 for an individual and $6,650 for an employee with one or more family members on the account. Employees age 55 or older may contribute up to $1,000 more annually.

Your employer contributes $58.34 per month ($700.08 per year) if you are enrolled as an individual and $116.67 per month ($1,400.04 per year) if you are enrolled with one or more family members. The contributions go into the HSA in equal installments over the year. The entire amount is not deposited in your HSA on January 1, 2015. HSA funds are not available until deposited.

You may also make contributions through payroll deduction (if your employer offers payroll deduction) or make a deposit directly to your HSA.

If you earned the wellness incentive for 2015, $125 will be deposited into your HSA account with the January employer contribution at the end of January.

When you calculate your contribution for the year, please include the employer contributions, the $125 SmartHealth incentive (if you earned it for 2015) and your individual contributions. It is your responsibility not to exceed the maximum annual contributions allowed under the Internal Revenue Service rules. The Employee Authorization for Payroll Deduction to Health Savings Account form can help with your calculations.

The HSA funds are yours to use to help pay for IRS-qualified, out-of-pocket medical expenses. The funds carry over from year-to-year and remain yours even if you are no longer enrolled in the CDHP, leave your job or retire.

More information about the CDHP and the HSA is available on the PEBB website: http://www.hca.wa.gov/pebb/Pages/index.aspx

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