Explore What’s Changing for 2014
We are making limited changes to benefits plans this year. Here’s a brief overview:
Your share of the cost of medical coverage will increase as we continue to move toward the cost-sharing recommendations set last year by the Benefits Advisory Committee (BAC). Here’s a brief overview:
- Our medical plans will again be priced based on salary bands (i.e., those who are paid less will have lower premiums).
- Out-of-pocket maximums have been improved to meet Health Care Reform requirements. Deductibles, copays and coinsurance now all count toward the out-of-pocket maximum.
- There are no changes to your medical or pharmacy deductibles, coinsurance or copays, as they remain at benchmarks.
- We have added a new voluntary legal plan, Hyatt Legal. Those who elect it will have access to over 11,000 attorneys nationwide at discounted rates. You can receive expert legal consultations over the phone or in person.
- Premiums for Supplemental Life Insurance through MetLife have been reduced significantly.
- Consistent with the repeal of the Defense of Marriage Act (DOMA), tax implications for domestic partners will change. Look for more information in the November HR NewsWire which you will receive in mid-October.
Even if you’re not planning to make changes to your benefits this year, you should learn more about the 2014 changes and how they will impact you beginning January 1, 2014.