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The 2024 Annual Open Enrollment Dates are as follows:
October 3, 2023 to October 12, 2023 – (these dates are for Active employees and Retirees)
This is your opportunity to review your benefits and make any changes to your benefits.
Retirees are urged to make any changes during the annual enrollment period; however they continue to have “Anytime Enrollment”. When a retiree makes a change outside of the Annual Enrollment period, the change is effective the first of the month following a 30 day period. An exception to the “Anytime Enrollment” for retirees is for those retirees with a NCSD after August 2, 2008 who chose to enroll in the HRA option. Those retirees must remain in the HRA option for the 2024 plan year unless they have a qualifying life event.
Most 2023 elections and designations automatically carry over into 2024 Annual Enrollment. Members who want to stay with their current elections for medical, dental, vision and AD&D life insurance plan without any changes don’t need to do anything.
If you have a Qualifying Life Event between open enrollment and the end of the year, you will need to make changes on BenefitsConnections for both 2023 and 2024. Examples of a Qualifying Life Event are adding a spouse if you get married, adding a child when there is a birth of a new baby etc.
Annual Enrollment Guides are in the mail to employees and retirees now.
Health Assessment/Wellness Activity Credit
Verizon has informed us that the Health Assessment will not roll over. In order to receive the $100 Health Assessment Credit in 2024, employees will need to retake the Health Assessment or complete one “wellness activity” instead of the Health Assessment to earn the $100 premium reduction for 2024. On September 1, 2023 Verizon moved to the Virgin Pulse platform for its well-being services. Virgin Pulse will house the Health Assessment/Wellness Activity credit for 2024.
Completions by 12/31/23 will receive full credit for 2023.
Completions in 2024 will receive a prorated credit.
Non- Tobacco User Credit - $600
· If you are a non-tobacco user and are already receiving credit, no further action is needed.
- If you are not receiving this credit and DO NOT use tobacco products, indicate your NON-TOBACCO status on BenefitsConnection to receive your $600 credit towards your annual medical contributions.
- If you and your covered dependents DO USE tobacco products but have completed a tobacco cessation course within the last six months indicate your status on BenefitsConnections during Open Enrollment for the full credit.
- If you have NOT yet completed a tobacco cessation course, you can earn the full Non-Tobacco Credit in 2024 if you and/or your covered dependents satisfy the reasonable alternative standard as follows:
1) During Annual Enrollment, log on to BenefitsConnection and answer the Tobacco User Status question while completing your Annual Enrollment elections: - answer YES and intend to complete a tobacco cessation course before July 31, 2024.
2) Before July 31, 2024, complete a tobacco cessation course. Same as the Health Assessment/Wellness Activity Credit above this will also be housed in the Virgin Pulse platform.
You MUST update your Tobacco User Status response by July 31, 2024 in order to receive the full Non-Tobacco credit. Any update made to your tobacco user status after July 31, 2024 will result in a prorated credit for the remainder of the year.
Retirees:
Your contributions depend on your retirement date, your net credited service date and the medical plan option you select.
For all retirees who retired after January 1, 1992, with a net credited service date before August 3, 2008:
Our contracts with Verizon provide for limits on the amount the Company will contribute toward retiree medical coverage. These limits are referred to as retiree medical caps.
In the 2024 plan year, the cost of coverage of each of the Medicare Advantage plan options is less than the applicable retiree medical caps. If you continue to enroll in a Medicare HMO plan you will be required to pay premiums based on the cost of the plan you are enrolled in. If you would like more information about the retiree caps and how they affect retiree
contributions, go to BenefitsConnection > Library > Plan Information & SPDs > Annual
Enrollment Materials > Retiree Medical Contributions Supplemental Guide. Additionally, Verizon has chosen not to offer the HMO Blue Plan option to Medicare-eligible retirees beginning in 2024 due to the high cost of the plan to both the Company and our members.
For the 2024 plan year:
Ø The cost of coverage for the NYNE pre-Medicare MEP HCP plan option does not exceed the applicable retiree medical caps. Since the caps were not exceeded, there is no need for an alternative plan for 2024.
Ø The cost of coverage for the NYNE pre-Medicare EPO, Harvard Pilgrim, Capital District Physicians, Blue Alliance, and Aetna HMO plan options will exceed the retiree medical cap by an amount greater than the minimum retiree contribution for retirement dates after 12/31/91. See annual enrollment material for amounts.
Ø The amount of coverage for all other NY/NE HMOs will either not exceed the retiree caps, or will exceed the caps by an amount not greater than the minimum retiree contributions applicable to that plan option for retirement dates after 12/31/91.
Your current elections will automatically continue unless you make a change.
The billing process will remain unchanged from the process that is in place today for those who are already making contributions. Anyone that is enrolled in a benefit that requires contributions will receive a bill. Bills are mailed by the 15th of each month with a due date of the first of the following month. For example, the bill for the contributions for January 2024 will be mailed/posted to the web by December 15, 2023 with a due date of January 1, 2024.
Improved Company Contributions towards medical coverage and an additional HRA option for eligible retirees with a NCSD after August 2, 2008:
• Not eligible for Medicare: $576 for each full year of net credited service that
commences on or after August 3, 2008, up to a maximum of 25 years
• Medicare-eligible: $288 for each full year of net credited service that commences
on or after August 3, 2008, up to a maximum of 25 years.
Beginning in 2024, you will have new options outside of Verizon group plan coverage.
If you elect one of these options, your annual company contributions will be available
as a Health Reimbursement Account (HRA), subject to rules set forth in your
collective bargaining agreement. Depending on the option, the new HRA would be
administered by:
• Pre-Medicare Exchange HRA through Via Benefits: This option offers access
to medical plans offered by the individual marketplace.
• Pre-Medicare HRA through BenefitsConnection: This option allows you
to enroll in medical coverage that you are eligible for, such as through the VA
or as an eligible dependent on someone else’s plan (e.g., your spouse’s plan).
Certain out of pocket expenses that you incur, like after tax premiums and other
medical and prescription drug related expenses not paid by your medical plan,
will be reimbursed in accordance with your collective bargaining agreement.
During annual enrollment you must go into Benefits Connection, opt yourself and
all eligible dependents out of Verizon group plan coverage and elect either the
Pre-Medicare Exchange HRA through Via Benefits or Pre-Medicare HRA through
BenefitsConnection. You must select the same option for you and your dependents.
For more information about the Via Benefits Exchange, go to BenefitsConnection
> Annual Enrollment > Via Benefits. Benefits Advisors are available to take your call
and discuss additional information beginning October 3, 2023.
For the 2024 plan year, the enrollment period for a plan through the Via Benefits
Exchange with the individual marketplace is from November 1, 2023 through
December 15, 2023. We realize that occurs after your Verizon Annual Enrollment
period. Therefore, if you opt out of Verizon group coverage during your Verizon
Annual Enrollment period but then decide that one of the individual plan options
is not suited for you, you will have an opportunity to return to BenefitsConnection
before December 15, 2023 to re-enroll in Verizon group plan coverage.
Retirees can elect to have contributions paid via ACH debit or pension deduction:
Because ACH direct debit is the fastest and easiest way for a retiree to pay for coverage, it is highlighted on each monthly invoice that is mailed home to encourage enrollment. The retiree can enroll in this option on the secure BenefitsConnection website by providing his/her routing and checking account number. The balance due would be debited out of their account on the first business day of the month.
A retiree who is receiving a monthly pension also has the option to have his/her deductions taken from their pension check. A retiree would have to call the Benefit Center and speak with a representative to enroll in this option.
Life & Accidental Death & Dismemberment Insurance (AD&D)
Annual enrollment offers you the opportunity to make changes to your current life insurance coverage amounts and/or waive coverage. The rates for coverage are based on age ranges. As you and your spouse fall into a new age band your costs could increase. If you choose to continue your coverage, no further action is required.
Verify your beneficiary status to make sure it is accurate and up to date. It is a good idea to do this every year.
Dependent Verification
In 2024, you will need to re-verify that your spouse or domestic partner currently meets the requirements for dependent coverage. A Spouse/Domestic Partner paper audit will be mailed to your home address on file during the new plan year. The audit will be for any spouse or domestic partner enrolled in medical, dental and/or vision coverage for the 2024 plan year. Take this opportunity during Annual Enrollment to review and update your eligible dependents.
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