2019 Enrollment Roadshow Presentation Fall 2018 - Final
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2019 Enrollment Roadshow Presentation Fall 2018 - Final
What’s New for 2019
Teradyne’s medical trend and costs have increased, with slight variations in each plan’s premium
based on claims experience:
• Health Investment Plan with HSA premiums will increase by 7.3%.
• The Advantage Blue (EPO) premiums will increase 7.3%.
• The Blue Care Elect Preferred (PPO) premiums will increase by 12.1%.
• California Only – Kaiser’s premiums will increase by: Kaiser HMO: 1.6%; Kaiser w/HSA: 0.4%.
Dental and vision premiums will not increase, and VSP will now cover the full cost of standard
progressive lenses.
Express Scripts Infertility (Rx) lifetime maximum has increased to $15,000. Medical Infertility lifetime
maximum remains at $25,000
Life and long term disability coverage will now be provided through Lincoln Financial Group, replacing
Aetna. The optional life rates have changed slightly but the plan coverage and basic life and long term
disability remain the same.
Teradyne is enhancing the voluntary MetLaw program to include additional legal resources for your
parents and related elder care issues. The new monthly contribution is $21.75.
1
What’s New for 2019
(continued)
Pet parents will have new optional coverage. PAW-FECT” Prescription Drug Savings for Your Pets.
Teradyne has partnered with Inside RxSM Pets, a prescription savings program to provide pet parents
discounts on brand and generic human medications prescribed for pets at 40,000 participating retail
pharmacies.
Those enrolled in a Blue Cross Blue Shield Plan will have new rewards and resources to support your
health and smart consumer choices:
• Mango Health through ExpressScripts: A personalized app for users to track medications and
create healthy habits. You can order refills, receive medication reminders and notifications about
medical safety concerns.
• SmartShopper incentive and engagement program providing a reward check each time you and your
family choose an eligible lower-cost, quality doctor or facility.
• New Fitness and Weight Loss Blue Cross Blue Shield will add additional group classes and hospital
and non-hospital weight loss programs under the existing $150 reimbursement program
• Telehealth (virtual) medical visits through BCBS will increase to $54 (for the Health Investment
Plan). In the PPO and EPO plans, telehealth copays remain unchanged at $20 or $40.
2
Earn Money with Smart Shopper
SmartShopper empowers you and your covered family members to
make informed decisions about where you get care, and rewards those
who choose quality care at a lower cost.
• You can earn a $25-$250 reward check each time you and your
family choose an eligible lower-cost, quality doctor or facility for such
health services as:
• Colonoscopy, mammogram and bone density scan
• CT scan, MRI, PET scan and non-maternity ultrasound
• Cataract removal
• Hernia repair
• Gall bladder removal
• And more!
• For a list of eligible services and rewards, and to find a reward-
eligible doctor or hospital, just log into bluecrossma.com/myblue or
call 1-877-281-3722.
3
How to Use Smart Shopper
When a doctor recommends one of the medical services included in the
SmartShopper program, follow these steps before you have the service:
• Go to bluecrossma.com/myblue and log in to your MyBlue account. (First
time users must register)
• Select the Find a Doctor & Estimate Costs box.
• On the Find a Doctor & Estimate Costs home page, select the Go to Find
a Doctor & Estimate Costs Now button.
• Next, select the SmartShopper Shop for Procedures button.
• Select one of the reward-eligible providers to earn a cash reward.
SmartShopper is completely voluntary, and does not change the way
your medical plan pays benefits.
• You are always free to select any provider you choose, but if you use
SmartShopper to find and use the most cost-effective providers, you’ll be
rewarded.
4
Mango Health
A new feature through
ExpressScripts
• A personalized app
• Use it to track medications, order
refills, receive medication reminders
and notifications about medication
safety concerns.
5
Get Rewarded for Taking Healthy Action
Qualified Fitness Program Qualified Weight Loss Program
Receive up to $150 annually for membership or Receive up to $150 annually for participation in
fitness class fees a qualified program
• At a full service health club with cardiovascular and • Weight Watchers® in person or online
strength-training equipment like treadmills, bikes, weight • Hospital-based programs
machines, and free weights
• Non-hospital programs that combine healthy
• At a fitness studio with instructor-led group classes eating, exercise, and coaching sessions with
such as yoga, Pilates, Zumba®, kickboxing, indoor certified health professionals such as nutritionists,
cycling/spinning, and other exercise programs registered dietitians, or exercise physiologists
• Excludes: Personal trainers, fitness equipment or • Excludes: One-time initiation or termination fees,
clothing, initiation and termination fees, fees for food, supplements, books, scales, or exercise
gymnastics, tennis, pool-only facilities, martial arts, equipment, and individual nutrition counseling
instructional dance, country or social clubs, or sports sessions (see your health plan coverage)
teams.
To verify your program’s eligibility, or to download the reimbursement form, log on to MyBlue at
bluecrossma.com/myblue or call the Member Service number on your ID card.
6
“PAW-FECT” Prescription Drug Savings for Your Pets
Pet parents can get discounts on prescriptions to keep their
pets healthy through InsideRx℠ Pets.
• Provides discounts on brand and generic human
medications prescribed for pets at participating retail
pharmacies.
• Average savings:
− 77% on the cost of generic medications
− 15% on the cost of brand medications
• Simply present your card with the prescription from your
veterinarian to one of 40,000 participating retail
pharmacies.
• Available at no cost to you
7
Hyatt Legal Benefits – Now for Your Parents Too
Provides affordable legal help for Services Available to Parents
you, your spouse and dependents for
the many common legal issues your All Hyatt Legal services are available to you, your spouse and
family faces, like: your eligible dependents; the following are available to your
• Money matters parents and parents-in-law:
• Home and real estate matters • Identity management • Review of any personal
• Estate planning and wills services legal document
• Promissory notes • Demand letters
• Vehicle and driving matters, such • Deeds • Affidavits
as traffic tickets • Mortgages • Elder care issues,
• Family and personal matters • Simple and complex wills including consultation
• Civil lawsuits, and • Powers of attorney and document review for
(healthcare, financial, Medicare, Medicaid,
• Elder care issues childcare, immigration) prescription plans,
• Healthcare proxies nursing home
Choose from more than 14,000
• Living wills agreements, leases, and
attorneys nationwide to consult by
• Codicils notes
phone or in person.
8
Consider a Flexible Spending Account (FSA)
Use tax-free dollars to pay eligible health care and dependent care
expenses
Health Care FSA Limited Purpose Dependent Care FSA
(medical, Rx, dental and vision Health Care FSA (dependent day care expenses)
expenses) (dental and vision expenses)
Maximum 2019 contribution: $2,650* Maximum 2019 contribution: $2,650* Maximum 2019 contribution: $5,000
Use to pay: Out-of-pocket medical, Use to pay: Out-of-pocket dental and Eligible Dependents: Children under
dental and vision expenses vision expenses, and only those age 13 or another dependent who
(deductibles, copays, eyeglasses, medical expenses that don’t count relies on you for more than half of his
dental work, etc.) toward the deductible or her support, such as a disabled
elderly parent. The dependent must
Up to $500 annual rollover Up to $500 annual rollover
live in the same principle residence as
Not available if you enroll in the Not available if you enroll in you at least half the year.
Health Investment Plan with HSA, or Advantage Blue (EPO) or Blue Care
Eligible Expenses: Qualified day care
Kaiser_HSA (CA only) Elect Preferred (PPO), or Kaiser HMO
expenses such as a day care or
(CA only)
Available only if you enroll in eldercare center, babysitters, after
Advantage Blue (EPO) or Blue Care Available only if you enroll in the school programs and day camps.
Elect Preferred (PPO), or Kaiser HMO Health Investment Plan with HSA, or
Not available for health care
(CA only) Kaiser_HSA (CA only)
expenses or residential homes.
Estimate Carefully: Use It or Lose It
* Projection, not finalized by IRS
9What’s the Best Plan for You?
All Your Teradyne Medical Options Provide:
• In-network preventive care that’s free to you
• The same provider network
• Coverage for the same eligible expenses
The Only Difference: How, and How Much, You Pay
Premium Contributions Out-of-Pocket Costs
(deducted from your pay) (deductible, coinsurance, copayment)
A fixed cost, no matter how much or how Varies by the amount of care you need
little you use the plan
Capped by your out-of-pocket maximum
10Are You Getting the Best Value?
For most, the best value is the Health Investment Plan
The best value for 95% But only 34% are enrolled
30%
34% Enrolled
Enrolled
95%
Would pay less in the
Health Investment Plan Are You Missing Out?
(based on actual
claims)
11What Do the 34% Know? I’m in
control
Realize they are better off saving what they otherwise would pay in
higher premium contributions
Use the HSA to make it easier to save
Get an HSA contribution from Teradyne
Use the money if they need it—keep it if they don’t
Does this sound like you?
“I'd rather have control of my money than spend it on higher premium contributions. By What if you saved
saving, I’ve got money set aside to pay any bills. But now, I’ve got ‘upside’ potential. If our this difference in an
family’s health is good and we don’t need a lot of care, the money stays with me.” HSA instead?
2019 Premium Contribution Difference vs. Health Investment Plan (Annual, Rounded)
Coverage level Health Investment Plan PPO EPO
Individual $1,269 + $1,119 + $771
Employee + one $2,538 + $2,250 + $1,554
Family $3,807 + $3,369 + $2,325
12What Do the 34% Know? I’m saving for
retirement
Realize that only the Health Investment Plan provides a way to save for
medical expenses in retirement—tax-free
Like knowing you can never lose your HSA contributions; savings can
continue to grow over time, with no limit
Choose how to invest their HSA balances, just as they do their 401(k)
Unlike a 401(k), HSA funds are never taxable so long as they are used
to pay eligible health care expenses
Does this sound like you?
“Who knows what Medicare and Social Security will be like when I retire? Even if nothing changes, I know I’ll
have out-of-pocket costs. It makes sense to save for them through the HSA—where I can pay these expenses
tax-free—rather than through a 401(k), where distributions are taxable income.”
2019 HSA Contribution Maximum
Coverage level IRS Maximum Teradyne Maximum Employee Contribution
Contribution
Under 55 55+ Under 55 55+
Individual $3,500 $4,500 $675 $2,825 $3,825
Employee +
$7,000 $8,000 $1,350 $5,650 $6,650
dependent(s)
13What Do the 34% Know? I’m thinking
Regardless of your age, taking a longer-term view is a smart way to think longer-term
about medical coverage
Like the idea of building up an HSA balance that, over time, can feel like
first-dollar coverage
Use the HSA to make it easier to save
Does this sound like you?
“I see how regular savings over a few years can add up pretty quickly. I feel protected from
high health care costs this year—and in the future.”
Consider These Examples
Steve Julia Patrick
• Low expenses all three years • Relatively healthy • Married with family coverage
• Single (married in year 2; adds • Accident during year 2 • Managing chronic conditions
spouse to plan for year 3) costing $35,000 • Planning for retirement;
eligible to make annual
catch-up contributions
14Steve’s Example
Steve
• Low expenses all three years
• Single (married in year 2; adds spouse to plan for year 3
Year 1 Year 2 Year 3
HSA rollover amount NA $1,385 $3,010
Teradyne’s contribution* $675 $675 $1,350
Employee contributions $960 $1,200 $1,200
Steve’s expenses
(in-network preventive care covered at 100%) $250 $250 $375
HSA reimbursements $250 $250 $375
HSA balance at year-end** $1,385 $3,010 $5,185
Year 1: Enough to cover individual deductible in year 2
Year 2: Enough to cover family deductible in year 3 * Assumes Teradyne HSA contribution amounts remain the same for future years
** Does not consider possible investment gains or losses
15Julia’s Example
Julia
• Relatively healthy
• Accident during year 2 costing $35,000
Year 1 Year 2 Year 3
HSA rollover amount NA $2,115 $790
Teradyne’s contribution* $675 $675 $675
Employee contributions $1,440 $1,500 $2,100
Julia’s expenses
$0 $3,500 $300
(in-network preventive care covered at 100%)
HSA reimbursements $0 $3,500 $0
HSA balance at year-end** $2,115 $790 $3,265
Year 1: Enough to cover individual deductible in year 2 Year 3: Enough to cover
93% of the individual out-
Year 2: Julia is protected by the out-of-pocket maximum and of-pocket maximum
has saved enough in her HSA to cover the amount
* Assumes Teradyne HSA contribution amounts remain the same for future years
** Does not consider possible investment gains or losses
16Patrick’s Example After age 65, HSA funds can be used:
• For non-medical expenses, subject to regular
income tax, but without penalty
• Tax-free on qualified medical expenses, including
Patrick Medicare premiums
• Married with family coverage
• Managing chronic conditions
• Planning for retirement; eligible to make annual catch-up
contributions
Year 1 Year 2 Year 3
HSA rollover amount NA $8,000 $16,000
Teradyne’s contribution* $1,350 $1,350 $1,350
Employee contributions $6,650 $6,650 $6,650
Patrick’s expenses
(in-network preventive care covered at 100%) $2,950 $3,300 $6,750
HSA reimbursements $0 $0 $6,750
HSA balance at year-end** $8,000 $16,000 $17,250
Years 1 and 2: Patrick chooses to save aggressively for retirement and not use his Year 3: Patrick is protected by the
HSA for his annual out-of-pocket costs out-of-pocket maximum; he also
* Assumes Teradyne’s HSA contribution amounts remain the same for future years chooses to use HSA funds to pay
** Assumes 2019 IRS contribution maximum for family coverage ($7,000 plus $1,000 in catch-up contributions for those 55 and older) this out-of-pocket amount
continues unchanged in future years
*** Does not consider possible investment gains or losses
17Health Investment Plan FAQs
Frequently Asked Questions
• If I know my medical expenses are high, am I better off in the PPO or EPO?
• What if I think I can’t afford to contribute to an HSA?
• How do I get reimbursed from the HSA?
18Health Investment Plan FAQs “If I know my medical expenses are high, am I better off in the PPO or EPO?” ANSWER Not necessarily. Even if you are planning to have surgery, see the doctor a lot or take several maintenance drugs, you may still find that the Health Investment Plan is the best value for you. We encourage everyone to do the math. We’ve made it easy through the Teradyne Healthcare Calculator, powered by Fidelity. Customize the tool to fit your unique circumstances, and find the plan that truly offers you the best value. Try it for yourself! Visit www.teradyne.com/benefits 19
Health Investment Plan FAQs “What if I think I can’t afford to contribute to an HSA?” ANSWER Everyone needs to save for out-of-pocket expenses—regardless of the plan you choose. The Health Investment Plan difference: you can save for those expenses tax-free. That’s like getting a discount on your share of medical costs. If you find it hard to save, start small. Then gradually increase your contribution rate over time. Remember: you can start, stop or change your HSA contribution rate at any time, so you’re not locked in if you’re suddenly hit with an unexpected expense. Your smartest move: Save for the out-of- pocket maximum, no matter what plan you’re in. That way, you’ll be prepared for your worst- case financial scenario, and have peace of mind. 20
Health Investment Plan FAQs
“How do I get reimbursed from the HSA?”
ANSWER
It’s easy to pay or be reimbursed from your HSA.
• Use your HSA debit card. Use it to pay qualified
expenses at point of sale, such as filling a prescription, or
for an invoice you receive in the mail. Request cards for
your covered dependents, too.
• Use Fidelity BillPay for Health Savings Accounts. This
online bill paying service lets you pay health care
providers, companies and individuals—or reimburse
yourself.
• Use a Fidelity HSA checkbook. Use it to pay qualified
expenses at point of sale or for an invoice you receive in
the mail. Or write yourself a check for reimbursement.
Of course, you don’t have to use your HSA to pay if you don’t
want to. You can pay expenses out of pocket with other funds,
and allow your HSA balance to grow, tax-free. If you want to
reimburse yourself later, you can do so at any time.
21Make the Most Out of Your Health Plan
Join millions of people using Castlight to get more out of their
health plan and benefits.
Get peace of mind Find doctors you’ll love Feel great about your
benefits
Castlight is only for employees and covered dependents over age 18 enrolled in a Blue Cross Plan
22Get Peace of Mind
Clearly see what’s covered by
your plan, how much services
will cost, and where you’ve
spent your healthcare dollars.
• Review your family’s visits in an
easy-to-read format
• See what you paid and why
23Find Doctors You’ll Love
Search ratings and reviews
from real people, and find high-
quality doctors or specialists in
your network and near you.
• Compare doctors and facilities
based on quality, location, and cost
• Access contact information, patient
reviews, quality information, and
more
24Feel Great About Your Benefits Discover your well-being resources and see all your perks in once place. 25
Once You Complete Open Enrollment, Sign Up for Castlight.
www.mycastlight.com
www.mycastlight.comOnce You Complete Open Enrollment, Sign Up for Castlight.
www.mycastlight.com
If not currently under Blue Cross but electing it for 2019, you will not have access to Castlight Platform until after January 1, 2019
27Need Help Figuring it All Out?
We have resources to make it easier.
• Teradyne Open Enrollment Website: www.teradyne.com/benefits
• Plan Comparisons and Summary Plan Descriptions:
www.teradyne.com/benefits
• Castlight Health: Past care detail, cost & quality data
• Teradyne Healthcare Calculator: Powered by Fidelity New video!
• Compare Cost Estimates: www.bcbsma.com under “Find a Doctor” How the HDHP Works
• Go to: www.401k.com under the “Health Savings Account” tile
• HR Service Center Visit
https://gspk.co/s/03qr9fs
• Phone: 978-370-3041 OR
• Email: hr.service.center@teradyne.com Text TER522 to 61759
OR
• URL: https://gspk.co/s/03qr9fs
Look for this code:
• Text2Engage: Text TER522 to 61759
28Open Enrollment is Coming
Open enrollment period: October 29 – November 9, 2018
• Be sure to attend a Benefits Fair
• Complete your free biometric screening for a chance to win one of five Apple
Watch Series 4 watches with Proactive health monitor, comprehensive activity
tracker and ultimate workout partner
Benefits Biometric
Location Date Address
Fair Screenings*
Agoura Hills, CA Tuesday 30701 Agoura Rd.
10:00 – 2:00 10:00 – 2:00
10/30/2018 Agoura Hills, CA 91301
Buffalo Grove, IL – Eagle Tuesday 2200 Millbrook Dr.
10:00 – 2:00 10:00 – 2:00
Test 10/30/2018 Buffalo Grove, IL 60089
North Reading, MA Bldg Tuesday 600 Riverpark Dr. MS 700-2-1
10:00 – 2:00 10:00 – 2:00
600 10/30/2018 N. Reading, MA 01864
San Jose, CA – Nextest Thursday 875 Embedded Way
10:00 – 2:00 10:00 – 2:00
11/1/2018 San Jose, CA 95138-1030
Sunnyvale, CA – Tuesday 575 Maude Ct.
10:00 – 2:00 10:00 – 2:00
LitePoint 10/30/2018 Sunnyvale, CA 94085
* Employees not located near or unable to attend an onsite screening will be provided with alternative means to obtain
screening. Look for an email from HR Service Center in October.
29You can also read
