The Board of Regents approved the following Benefits changes for the 2016-2017 Plan Year:
No change to current medical deductibles, coinsurance, and copays.
Active employee Medical Plan rates will increase by an overall average of 4.8%. Premiums will vary according to the three medical coverage options, FTE, and salary.
*If the retail cost of the drug is less than the minimum coinsurance, the retail cost will be charged.
The 90-day supply prescription for preferred and non-preferred brand drugs will change from 2 times to 2.5 times the 30-day prescription supply cost (25% coinsurance applies):
No Changes to Generic (copay), Specialty Drugs (Coinsurance/Copay), or Diabetic Drugs / Diabetic Supplies (zero copay for covered benefits)
Express Scripts offers an online tool reflecting July 1, 2016 changes, allowing you to price your specific brand drug.
NEW! Onsite Preventive Health Checkups and Medical Premium Discount
Employees who qualify will have a chance to participate in preventive health checkups, and in return will receive a one-time $200 discount on their UNM medical plan premium. Please Note: the discount may be distributed over multiple pay periods.
To qualify, employees must be enrolled in a UNM medical plan during the screening period from July 1 to October 15, 2016.
Additional details will be shared as they become available.
Long-Term Care Changing to a Voluntary, 100% Employee Paid Benefit
Effective July 1, 2016, the Basic Long-Term Care benefit will no longer be sponsored by UNM, and will change to a 100% employee paid, voluntary benefit.
Currently, UNM provides a Long-Term Care base benefit of $2,000 per month for three years, at no cost to full-time, benefits-eligible employees (after one year of benefits-eligible employment).
Details regarding this change will be provided as they become available.
Elimination of the 15-Day Benefit Eligibility Waiting Period
As of July 1, 2016, the 15-day Benefit Eligibility Waiting Period will be eliminated.
Employees hired into a benefits-eligible position on or after July 1, 2016 may complete their benefits enrollment as early as the first day in their benefits-eligible position.
31-day Enrollment Period extended to 60 days
As of July 1, 2016, employees hired into a benefits-eligible position on or after July 1, 2016 may complete their benefits enrollment within 60 days after their date of hire into the new position.
As of July 1, 2016, employees experiencing a Qualifying Change in Status Event on or after July 1, 2016 may complete their benefits changes within 60 days after the date of the event.
Benefits changes are effective the first day of the month after they have been received and approved by the Benefits Department.
