Understanding Your 2013 Costs
Some important changes are occurring this year, and it’s important that you understand how they affect your health care costs before making your enrollment decisions.
- You will not receive benefit dollars this year. Although you will not receive funds directly, some of the cost savings from this will be used to mitigate increases in your health insurance premiums. Note: You will continue to receive a medical waiver credit if you decline medical coverage through the university. The medical waiver credit is $800 if your salary is $40,000 or less and $500 if your salary is more than $40,000.
- There are new salary based health insurance premiums for the CareFirst BlueCross BlueShield Medical Plan and the EHP Medical plan. This change was made in an attempt to coordinate premium with income and make it more affordable for employees with lower income.
- There are new, more affordable coverage levels for single parent families.
Please see the myChoices website for additional information about the changes for 2013.
New Tools To Help You Understand and Compare Your Medical Plan Options
JHU offers three tools to help you assess how these changes may affect your plan decisions. You can use these tools as a three-step process to help you understand how the changes for 2013 impact you:
Step 1: Health Care Premium Net Impact Tool
Select your salary level, current plan and coverage level and the tool shows how your 2013 medical plan premiums compare to what you paid in 2012.
Step 2: Medical Plan Cost Estimator Tool
Input your number of dependents and typical medical plan usage, and the modeling tool compares your total estimated cost under each of the plans. It factors in your total costs, including paycheck contributions, copayments, deductibles, and any other anticipated health care costs you may have. You can even use it to model Health Care Flexible Spending Account contributions and estimate just how much you could save on taxes by participating.
Step 3: Medical Plan Coverage Comparison Tool
Select the medical plan features you are interested in and the comparison tool shows you how coverage under each plan compares. For example, let’s say that you’re interested in maternity care. Select maternity care, and the coverage under each plan is displayed for you. It’s just like comparison shopping online for a car or for an appliance!
To access these new tools, visit the myChoices tab on the Benefits website.