Annual Enrollment is Oct. 25 through Nov. 16, 2014. This is your opportunity to review your costs, make any benefits changes, change your dependents, enroll in a Flexible Spending Account for 2015 and/or set your Health Savings Account (HSA) contribution.*
The good news is there are very few changes for 2015. The biggest change—one that requires some of you to take action before the year ends—is the switch to HealthEquity as the new HSA vendor. Earlier this year, Aetna-JPMorgan Chase told us they were exiting the HSA market. We then interviewed several vendors to find a replacement, and HealthEquity stood out as our top choice. We were impressed with their easy-to-use tools, helpful resources and mobile app. We think they’ll be a great fit for HSA option participants.
If your Aetna-JPMorgan Chase balance is zero, no action is required. We will automatically establish a HealthEquity account for everyone who enrolls in the HSA option for 2015. If you currently have an HSA balance with Aetna-JPMorgan Chase, you need to complete an HSA transfer form by Dec. 31 so your account balance can be moved to HealthEquity. If you do not submit your form on time, you’ll pay a $4 monthly fee to keep your account at Aetna-JPMorgan Chase. You will find the HSA transfer form on EmployeeConnect > Your Benefits Resources as one of the Annual Enrollment steps.
The other 2015 changes are related to health care rates. Although medical and dental rates are increasing, you can reduce your medical costs by participating in the Health Management program. For more information about the benefits changes, your benefits options and how to enroll, review the 2015 Annual Enrollment Guide. Your guide should arrive at your home address the week of Oct. 20.
*You can start, stop or change your HSA contributions at any time. However, if you set your contribution amount during Annual Enrollment, your contributions will start in January.