PUBLICATIONS Inside Illinois Vol. 24, No. 20, May 5, 2005

benefit briefs

Benefit Choice Enrollment Period continues through May 31
The state Department of Central Management Services (CMS) has announced that the annual Benefit Choice Enrollment period will be during May. This is the only time when all benefit eligible employees may make changes to their state of Illinois benefit plans and coverage levels without a qualifying event requirement.

Changes must be completed through NESSIE by midnight May 31, and will become effective July 1, 2005.

For more Benefit Choice information, visit NESSIE and select the Benefits Tab, and then select “Benefit Choice” from the menu.

Please note: Intermittent outages of NESSIE may occur during the Benefit Choice period because of Banner maintenance. Any outages will be posted on the NESSIE home page.

If you have any questions about your benefit plans or options at this time, you may contact the Benefits Center at 217-333-3111 or 1-866-669-4772 (toll-free). Employees are encouraged to carefully consider all the different plans, options, providers and availability of providers, in order to choose the benefit plan that best suits their needs and preferences.

What can you change?
During Benefit Choice, employees may make changes to the following state benefits plans and coverage levels:

• Change health plans.
  
• Opt out of the state group health insurance plan (if you have other non-state group coverage).
  
• Opt out of or re-join the dental plan.
  
• Add/drop dependents to/from your health and dental plan.
  
• Change optional state life insurance.
  
• Change accidental death and dismemberment coverage
  
• Add/drop spouse or child life insurance.
  
• Enroll or re-enroll in Flexible Spending Accounts (change contribution to your Medical Care Assistance Plan or Dependent Care Assistance Plan).
  

What’s new?
Highlights for 2005 Benefit Choice:

• All current health plans, including the Quality Care Health Plan (QCHP) and all current Managed Care Health Plans, will again be available for this upcoming year beginning July 1, 2005.
  
• While there will be no changes to available health plans this year, there are several changes in deductibles, co-payments and premiums. This information will be provided in the Benefit Choice Options Booklet that CMS mailed directly to each employee’s home.
  
• There will be a new benefit this year that provides coverage for hearing exams and hearing aids up to a maximum of $100 for audiologist fee(s) and $500 for hearing aid(s). These benefits will be limited to once every three plan years. They will be included in all the managed-care health plans and in the QCHP.
  
• EyeMed Vision Care will be the new Vision Plan administrator.
  CIGNA will continue as the Medical Plan administrator of the QCHP.
  
• Medco will be the new administrator of the prescription drug plan for the following health plans: QCHP, HealthLink OAP, Health Alliance Illinois and OSF Winnebago.

Seminars focus on 403b Retirement Plan Seminars
The University Office of Human Resources and the campus Benefits Center are teaming up to present employee seminars focused on the UI’s 403b Tax-Deferred Retirement Plan.

“Building Your Financial Future” sessions will be from 11 a.m. to 12:30 p.m. May 26 and from noon to 1:30 p.m. May 27. The seminars are for employees interested in conducting a self-assessment of their financial situation. Topics include how to complete a basic financial plan, cash-flow and net worth statements; establishing goals; choosing appropriate financial products and investment strategies; and protecting income and assets.

The second series is titled “Five Habits of Highly Successful Investors,” and will cover the fundamentals of investing. Sessions are from 2 to 3 p.m. May 26 and from 9:30 to 11 a.m. May 27. Topics also include setting financial goals, realizing tax advantages, reducing risk with diversification, understanding cost off expenses, and current market trends.
Representatives from TIAA-CREF, one of the 403b vendor companies, will lead the seminars, which will be in Room 514 of the Illini Union Bookstore Building. Seminars are free to all UI employees; seating is limited. Any interested faculty and staff member can reserve a seat by completing the online registration form under free retirement seminars.

More information about the seminars is available through the University Office of Human Resources at 333-2590. Any questions about the UI’s 403b Tax-Deferred Retirement Plan should be directed to the Benefits Center at 333-3111.

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