2015 Open Enrollment Begins

University to introduce new health care option, prescription drug plan changes.

October 1, 2014

Benefits

The George Washington University’s open enrollment period begins Oct. 1, and university faculty and staff will notice changes to benefits plan offerings beginning in 2015.

Open enrollment is an annual opportunity for university employees to amend benefits—medical, dental, flexible spending accounts, life insurance and vision. Changes made during open enrollment, which runs from Oct. 1 through Oct. 31, will go into effect Jan. 1, 2015. Changes to health plans made outside this period require a qualified life event, such as a change in marital status, birth, spouse’s work status or coverage.

“On behalf of University Human Resources, I would like to thank the many individuals who have provided valuable feedback on our benefits offerings over the last year,” Vice President for University Human Resources Sabrina Ellis said. “In particular, I would like to extend a special thank you to our Benefits Advisory Committee, which has worked with us closely to identify new and better ways to shape our benefits package in order to best meet the needs of our faculty and staff.”

Some of the changes include adjustments to health and prescription drug plans:

Health Care

GW will continue its United Healthcare Choice Plus-Basic and Choice Plus-Medium plans in 2015 and will introduce a new plan, Choice Plus-High Deductible Health, that includes both in-network and out-of-network options and a tax free Health Savings Account (HSA). An HSA is essentially a bank account that allows the account holder to save and pay for eligible health care expenses tax-free (up to a certain amount). HSA balances roll over year-to-year and can be used for qualified health-related expenses or as a supplemental retirement savings account. Employees who leave the university can take their HSA with them.

Due to recent health care reform, high-cost plans like GW’s In-Network Only Premium will be subject to a 40 percent excise tax beginning in 2018. As a result, GW will discontinue this plan at the end of 2014. The termination of the plan is not a termination of the network, Ms. Ellis said, and employees will be able to keep their doctors. Employees currently enrolled in the In-Network Only Premium plan have the option to select from GW’s other three plans during open enrollment. Those who do not choose a new plan or do not waive coverage by Oct. 31 will automatically be enrolled in the Choice-Plus Medium plan.

Prescription Drugs

Beginning in 2015, GW plans will include the CVS Caremark standard formulary list of prescription drugs, both generic and brand name, negotiated by CVS Caremark with pharmaceutical companies for cost savings. Some medications currently considered “preferred brands” might become “non-preferred brands” and require a higher co-pay. Faculty and staff will have the option to move to a generic equivalent at the lower co-pay amount.

In compliance with the Affordable Care Act, an out-of-pocket maximum will be added for both individuals and families for prescription drugs for both the Choice Plus-Basic and Choice Plus-Medium plans. The Choice Plus-High Deductible Health plan will have one out-of-pocket maximum that will apply to both medical and prescription drug coverage.

Dependent Eligibility Audit

Following open enrollment, GW—through an independent third party—will conduct a dependent eligibility audit to verify dependents currently enrolled in a GW health plan are eligible to do so. This is an industry best practice designed to compare a plan’s eligibility rules to the dependents enrolled in the plan. Employees with dependents on GW plans who do not meet the eligibility criteria have the opportunity remove them during open enrollment.

More Information

Benefits fairs are scheduled to take place during open enrollment to provide employees an opportunity to receive direct assistance and information as they consider making changes to their plans. Medical, dental, vision, insurance and flexible spending plan providers will be made available at these fairs, which begin Oct. 8 at the Virginia Science and Technology Campus. GW will provide an updated open enrollment guide on benefit offerings and resources, which will include tools to help employees make decisions regarding their plans.

The university also will extend the benefits administration call center hours during October. Employees with questions and concerns during open enrollment may contact the call center Monday through Friday from 9 a.m. to 8 p.m. at 888-449-8236.