Smart benefits. Wise choices.

Transcription

1 Smart benefits. Wise choices. What s Inside Welcome to New York University...2 Enrollment Basics...2 The NYU Benefits Resource Center...3 Who Can I Enroll in Benefits?... 4 Your NYU Medical Plans... 6 HDHP with HSA Plan Benefits Overview Guide For Faculty, Administrators, and Professional Research Staff Your NYU Prescription Drug Plan Your 2013 Medical Contributions...15 Your NYU MetLife Dental Plan...16 Your NYU Vision Plan...17 NYU Benefits that Help You Save...18 Your NYU Retirement Benefits Other NYU Benefits...24 Enrolling in Your NYU Benefits...29

2 Welcome to New York University As a leading institute of higher learning, NYU is proud of its rich history and reputation in the academic field. As a global employer, NYU recognizes that the success of the University is critically linked to the physical health and total well-being of the faculty and staff who support the University s educational mission around the world. This guide contains information about the benefits and programs available to you as a member of the NYU community. You will also find valuable information about the online resources and tools available on the NYU Benefits Resource Center to assist you in selecting the benefits that will best fit your needs. It s important that you familiarize yourself with NYU benefits because you will need to make some important benefits decisions and, if you are a new hire, complete your enrollment within 31 days from your date of hire. Enrollment Basics Once you have made your elections (or are automatically enrolled) you must wait until the next Annual Enrollment period to make a change to your benefits, unless you have a Qualifying Event. If you have questions after your review of the benefits information in this guide and on the NYU Benefits Resource Center, please the NYU Benefits Office at benefits@nyu.edu or call to speak with a Benefits Specialist. You may also make an appointment with a Benefits Specialist at The Benefits Office, 105 East 17th Street, First Floor, New York, NY Hours: Monday through Friday from 9:00 a.m. to 5:00 p.m. Appointments are required. Take note of any documentation that is required as a result of your elections, specifically, if you include or add a new dependent(s) to your coverage. You will be required to submit proof of relationship documentation to the Benefits Office within 31 days from your date of hire or Qualifying Event in order for your dependent(s) to have coverage. Automatic enrollment for new hires! If you do not submit your elections within 31 days from your date of hire, you will automatically be enrolled for individual coverage in the UnitedHealthcare Choice Plus Value Medical Plan, the NYU MetLife Dental Plan, and Basic Life Insurance. Your eligible dependent(s) will not be enrolled in the default plans. You will not be able to change plans or enroll dependent(s) until the next available Annual Enrollment period, unless you have a Qualifying Event during the year. 2

3 The NYU Benefits Resource Center The Benefits Resource Center, NYU s secure intranet portal, is your resource for plan information, decision support tools to assist in selecting the NYU plans that are right for you, declaring life events, designating a life insurance beneficiary, and more. How to Access the Benefits Resource Center You can access the Benefits Resource Center from any computer with access to the Internet from work, from home, or a library in the U.S. or abroad. Step 1: Login to NYUHome at home.nyu.edu, using your NetID and password. If you don t remember your NYU NetID, you can find it printed on the back of your NYU Identification Card. Step 2: Select the Work tab located near the top of the screen. Step 3: Click on the button for Benefits Resource Center. See page 29 for detailed instructions on how to enroll in benefits. Tools to Help You Choose NYU encourages you to view and purchase health care almost like any other major consumer product or service, such as a car or even car insurance. When you adopt a healthy lifestyle and visit your doctor for annual physicals, you are taking the first steps toward being a better health care consumer. Ask questions up front, consider what will best suit your needs, and look for the highest quality and value for your health care dollars. Understanding your health care needs and how your health plan works can help ensure that you are buying the best coverage for you and your family. Decision Support Center If you would like assistance in evaluating and selecting health care coverage, the Decision Support Center, available through the Benefits Resource Center, offers valuable, easy-to-use tools to help you choose a medical plan and accurately calculate your contributions to a Flexible Spending Account (FSA) or a Health Savings Account (HSA). You will be offered the option of using this tool as you progress through your enrollment. NEED ASSISTANCE? The NYU Benefits Office is available to assist you. Benefits Specialists can help you enroll in benefit plans, process changes in enrollment, assist with claim issues, and more. They are available by , phone, and appointment for a one-on-one consultation. By benefits@nyu.edu By phone: (Please have your NetID available when you call) By fax: In person (please call to make an appointment): The Benefits Office, 105 East 17th Street, First Floor, New York, NY Hours: Monday through Friday from 9:00 a.m. to 5:00 p.m. The information and tools on the Benefits Resource Center can help you: Compare the NYU health plans and identify the plan that s right for you; Estimate your anticipated total health care costs; Estimate your total out-of-pocket expenses to see how much you should contribute to a Flexible Spending Account (FSA) or the Health Savings Account (HSA); Enroll in NYU s Commuter Benefits; Access contact information for the health plan vendors; View a calendar of wellness events, and Download and print forms that you need. 3

4 Who Can I Enroll in Benefits? Eligible Dependent(s) Medical, Dental, and Vision Coverage for Your Eligible Dependent(s) When you enroll in an NYU medical, dental, or vision plan, you may also enroll your eligible dependent(s) for coverage. Proof of Relationship You are required to provide proof of relationship for your dependent(s) if you elect to cover them under an NYU medical, dental, or vision plan. This may include a copy of one or more of the following: Marriage certificate; Approved NYU Statement of Domestic Partner Form; Birth certificate that shows the names of both the parent and the child; Adoption papers; Legal documentation substantiating placement for adoption, or A court order from a court of competent jurisdiction showing legal guardianship or permanent or temporary custody. When Child(ren) Become Eligible for Coverage A newborn child is eligible for coverage at birth. In the case of adoption, placement for adoption, custody, or guardianship, a child becomes eligible for coverage when: the child is placed in your home, the adoption is final, or the date the court awards guardianship, temporary, or permanent custody. In order to obtain coverage for your new child, you must enroll the child within 31 days of: the child s birth, the date the child is placed in your home for adoption, the date the adoption is final, the date that you have been appointed legal guardian, or the date you were awarded temporary or permanent custody. Note: In the case of temporary custody, you will be required to submit either another order that extends the period of temporary custody or an order of permanent custody for the child s coverage to remain in effect. Your Eligible Dependent(s) Are Any of the Following: Your legal spouse; Your domestic partner whom you registered with the NYU Benefits Office; Your child through the end of the month in which age 26 is attained, and/or Your unmarried, dependent child over age 26 if mentally or physically disabled. Your Dependent Child(ren) Include: Your natural child; Your stepchild; Your registered domestic partner s child; Your legally-adopted child (or child placed with you for legal adoption); A child for whom you have been appointed legal guardian by a court of competent jurisdiction, and/or A child for whom you have been given temporary or permanent custody under an order issued by a court of competent jurisdiction. 4

5 Who Can I Enroll in Benefits? When Your Dependent Child(ren) is No Longer Eligible for Coverage When your child is no longer eligible to continue coverage as a dependent on your NYU medical, dental, or vision plan, his/her coverage will terminate at the end of the month in which he/she becomes ineligible. You must notify the NYU Benefits Office within 31 days of the date he/she is no longer eligible for dependent coverage. He/she may continue coverage through COBRA for up to 36 months by paying the full group rate, plus an additional two percent for administrative expenses. However, if you do not notify the NYU Benefits Office within 31 days of your child becoming ineligible for coverage, he/she will lose the right to continue coverage under COBRA. Coverage Under One Plan Only If both you and your spouse or registered domestic partner work for NYU and are both eligible for a medical plan through NYU, only one of you can cover your child as a dependent under one plan. Both of you cannot cover your child at the same time. Also, you can cover your spouse or partner as a dependent under your plan, or your spouse or partner can elect separate employee coverage. You and your spouse or partner cannot be covered as both an employee and as a dependent under a medical, dental, or vision plan through NYU. When Your Legal Spouse is No Longer Eligible for Coverage A divorced or legally-separated spouse is no longer eligible for coverage under your NYU medical, dental, or vision plan as of the date in which the divorce or separation is finalized. You must end his/her coverage within 31 days of the date of finalization of your divorce by declaring a Qualifying Event on the Benefits Resource Center. Your ex-spouse may continue coverage through COBRA for up to 36 months by paying the full group rate, plus an additional two percent for administrative expenses. If you do not notify the NYU Benefits Office within 31 days from the date of your divorce to request COBRA coverage, your ex-spouse will lose the right to continue coverage under COBRA. Domestic Partnership A domestic partnership is defined as two individuals who live together in a long-term relationship of indefinite duration. Additionally, partners agree to be jointly responsible for each other s common welfare and to share financial obligations. Partners may not be related by blood to a degree of closeness that would prohibit legal marriage in the state in which they legally reside. You must register your domestic partner with the NYU Benefits Office before you can enroll him/her for coverage under an NYU medical, dental, or vision plan. Imputed Income The value, or premium equivalent, of healthcare coverage for non-dependent Domestic Partners and/or their children, must be included in earned income for tax purposes. The amount of this imputed income depends upon the plan in which you are enrolled and the level of coverage elected and will be reflected on the Benefits Resource Center once you make your benefit elections. Imputed income is reported on your annual Form W-2. If your domestic partner and/or children of your domestic partner qualify as dependents under Section 152 of the Internal Revenue Code, imputed income will not apply. Tax Assistance for Employees Covering Same-Sex Spouses on an NYU Health Plan The New York State Marriage Equality Act no longer requires NYU to impose imputed income and withhold New York State and New York City or Yonkers taxes on the value of benefits to employees with same-sex spouses; however, these benefits are still treated as income for federal tax purposes. The University will provide tax assistance to faculty members and employees with same-sex spouses who are required to pay federal tax on the value of NYU medical, dental and/or tuition remission benefits. Effective January 1, 2013, NYU will provide $1,500 in same-sex spouse or civil union annual tax assistance. The amount of tax assistance is a fixed amount offered to defray the federal tax impact; it is not intended to fully account for individual circumstances. It is a discretionary program, and like other benefit programs, the University will periodically evaluate and may elect to discontinue it at any time and without notice. It is also not the intent of the University to revise or adjust the amount going forward to allow for future increases in the tax rates from year to year. The tax assistance amount will be paid to qualifying faculty members and employees at the end of 2013 in a lump sum payment and at the end of each calendar year thereafter that this assistance continues to be provided. In order to qualify for this special tax assistance, the faculty member and employee must meet all of the following criteria: 1. Have valid documentation (marriage or civil union certificate) filed with the NYU Benefits Office, 2. Cover his or her same-sex spouse or civil union partner in an NYU medical and/or dental plan or his or her same-sex spouse or civil union partner must have received tuition remission (undergraduate) benefits in the calendar year that relief is given, 3. Have a same-sex spouse or civil union partner who is not eligible for health care coverage elsewhere, 4. Have a same sex spouse or civil union partner who is not a tax qualified dependent under Internal Revenue Code Section 152 (as described here), and 5. Submit an Application for Tax Assistance to the NYU Benefits Office. 5

6 Your NYU Medical Plans The following five medical plans will be offered for 2013: Oxford Freedom HMO; Aetna HMO; UnitedHealthcare Choice Plus Value Plan; UnitedHealthcare Choice Plus Advantage Plan, and UnitedHealthcare High Deductible Health Plan (HDHP) with Health Savings Account (HSA). Individual plan summaries are available under Plan Information on the Benefits Resource Center. You should receive an ID card from the insurance carrier of your choice within two weeks of your enrollment on the Benefits Resource Center. The Oxford HMO and Aetna HMO Plans provide coverage only when you use in-network providers. The UHC Choice Plus and UHC HDHP with HSA Plans provide for care received both in-network and out-of-network. Automatic enrollment for new hires! If you do not submit your elections within 31 days from your date of hire, you will automatically be enrolled for individual coverage in the UnitedHealthcare Choice Plus Value Medical Plan. Your eligible dependent(s) will not be enrolled in coverage. You will NOT be able to change plans or enroll dependent(s) until the next available Annual Enrollment period, unless you have a Qualifying Event during the year. During your Medical Plan enrollment, you will be offered the option to access the Decision Support Center where you will find the following easy-to-use tools: Medical Cost Calculator Helps you estimate how much each medical plan option will cost for the coming year based on your expected use of medical services. Preference Module Allows you to see medical plan options ranked in the order that best fit your personal and financial circumstances. Comparison Module Compares medical plan details, such as out-of-pocket costs, access to care, and benefit coverage. Savings Account Estimator Incorporates results from the Medical Cost Calculator to help you determine the appropriate Health Care Flexible Spending Account contribution and estimate the money you save on taxes. Deductible (does not apply to services with copays) Primary Care Physician (PCP) Office Visit (other than routine physical) Specialist Office Visit Out-of-Pocket Maximum Lifetime Maximum Oxford Freedom HMO In-network only $200 $400 Aetna HMO In-network only $200 $400 UHC Choice Plus Value Plan In-network $500 $1,000 Out-ofnetwork $2,600 $5,200 $30 copay $30 copay $30 copay Covered at 50% of R&C charges* after deductible $40 copay $40 copay $40 copay Covered at 50% of R&C charges* after deductible $2,000 $4,000 $2,000 $4,000 $3,500 $6,000 $8,000 $15,000 UHC Choice Plus Advantage Plan In-network $400 $800 Out-ofnetwork $2,600 $5,200 $30 copay Covered at 60% of R&C charges* after deductible $40 copay Covered at 60% of R&C charges* after deductible $2,000 $5,000 $8,000 $15,000 UHC HDHP with HSA Plan In-network $1,600 $3,200 Covered at 90%, after annual deductible is met** Covered at 90%, after annual deductible is met** $3,000 $6,000 Out-ofnetwork $1,600 $3,200 Covered at 70%, after annual deductible is met** Covered at 70%, after annual deductible is met** $5,000 $10,000 Unlimited Unlimited Unlimited Unlimited Unlimited Unlimited Unlimited Unlimited * Reasonable and Customary (R&C) charges are the maximum charges that the plan will consider for a particular service in a particular area when you use an out-of-network provider. R&C limits are generally determined by geography, as charges can vary for the same service in different parts of the country. Your total out-of-pocket cost may include provider charges that are above the plan s R&C allowance. ** Until the combined medical and prescription drug deductible is met, you will pay the full cost of your non-preventive medical expenses and non-preventive prescription drug expenses. Preventive drugs on the CVS/Caremark Preventive Drug Therapy List are not subject to the deductible. Coinsurance of 10% will apply. 6

7 Your NYU Medical Plans How the HMO Plans Work Primary Care Physician: When you enroll in an HMO, you select a Primary Care Physician (PCP) from the HMO s website provider directory. To receive care from a specialist or other provider who is part of the network, you must obtain a referral from your PCP. Copays, Deductibles, and Coinsurance: HMOs usually require copays for doctor s office visits or a deductible and coinsurance for certain other services. You are required to receive all your treatment from physicians, specialists, hospitals, and other providers who are part of the HMO s network. You generally are not covered for services received from a provider outside the network, except in an emergency. The NYU Point-of-Service (POS) Plans You may want to consider the flexibility available to you with the UnitedHealthcare (UHC) Choice Plus Point-of-Service (POS) Plans. The POS Plans offer the advantages of an HMO through the in-network part of the plan, but also allow you the flexibility to use out-of-network providers. How the Point-of-Service (POS) Plans Work The UnitedHealthcare Choice Plus Point-of-Service (POS) Plans, which include both the Value and the Advantage Plans, give you the freedom to seek care from any UnitedHealthcare (UHC) Network provider or facility without a referral. With these Plans, you will receive the highest level of benefits when you seek care from a UHC Network provider or facility. In addition, you do not have to submit claim forms for in-network care. Regular preventive care is one of the best ways to keep you and your family members healthy and to identify any potential health risks. In-network preventive care services will continue to be covered at no cost to you in all NYU medical plans. Examples of preventive care services include annual routine physicals, immunizations, mammograms, prostate screenings, and colonoscopies. As required by the Patient Protection and Affordable Care Act (PPACA), some additional services for women will be covered as preventive beginning in Examples of these additional services include: Breast-feeding support, supplies, and counseling FDA approved contraception methods and counseling Domestic violence screening Gestational diabetes screening HIV screening and counseling Human papilloma virus testing Sexually transmitted infections counseling Well-woman visits For more details on what s included in these services, please contact your medical plan insurance carrier. You may also choose to seek care outside the UHC Network, without a referral. However, you should know that care received from a non-uhc Network physician, facility, or other health care professional means a higher deductible and out-of-network expense. If you choose to seek care outside the UHC Network, your plan only pays a portion of those charges and it is your responsibility to pay the remainder. Charges in excess of what the plan will consider for a particular service in a particular area (the Reasonable and Customary or R&C charges) can affect your out-of-network, out-of-pocket costs considerably, so it is important to keep this in mind when seeking out-of-network care under the POS Plans since any remaining balance is your responsibility. 7

8 High Deductible Health Plan (HDHP) with Health Savings Account (HSA) The HDHP will be administered through UnitedHealthcare, like NYU s UHC Choice Plus Advantage and Choice Plus Value Point-of-Service Plans. With the HDHP, the annual deductible will be higher than other medical plans, however, that is only part of the cost you should consider when making your enrollment decision. Another cost to think about is the amount you pay for medical coverage through your payroll contributions. If you elect the HDHP with HSA, the contribution from your paycheck will be lower than the other medical plans. Compared with the monthly premium for the UHC Choice Plus Advantage Plan, you can save approximately 40% with the HDHP with HSA! The lower premium gives you the perfect opportunity to start saving in an HSA account. You have the freedom to see any health care provider, including specialists, without a referral, although you will save money if you see in-network providers. This is especially important since instead of a copay, you will be paying the full cost of a doctor s visit or service until you satisfy your deductible. Once you meet the annual deductible, you will pay a lower coinsurance percentage when you use an in-network provider. Key HDHP Features Lower payroll deductions than the other medical plan options 100% in-network preventive care coverage Access to in-network and out-of-network providers 10% in-network coinsurance once you have met your deductible Tax-advantaged HSA to help you build savings for medical expenses NYU contribution to the HSA if you earn less than $75,000 per year To encourage a healthy lifestyle and active management of your health, eligible preventive care services, such as routine physicals and well-woman exams, are covered at 100%. All other services (including non-preventive prescription drugs) are subject to the deductible before the Plan pays a portion of the cost. Once you meet the deductible, you and the Plan share in the cost of care through coinsurance. If you enroll in the HDHP, you will have the opportunity to open a Health Savings Account (HSA). The HSA is a bank account that allows you to save and pay for eligible health care expenses. Depending on your annual salary, NYU may contribute to your HSA on your behalf. You own your HSA, and the account balance rolls over year to year. The use-itor-lose-it rule that applies to Flexible Spending Accounts (FSAs) does not apply to HSAs. HSA funds can be used to pay for services until you meet your deductible, pay coinsurance amounts after you meet your deductible, or you can save your HSA balance, let the balance grow tax-free, and use it for future health care expenses. As the HSA and FSAs are tax-advantaged benefit plans, you may not participate in both accounts at the same time. If you enroll in the HDHP with HSA, you cannot enroll in the Health Care FSA, even if you choose not to contribute to the HSA. 8

9 High Deductible Health Plan (HDHP) with Health Savings Account (HSA) There are four main levels of coverage for the HDHP. Alongside your HDHP, you have your HSA, which is a tax-advantaged bank account to accumulate savings for health care expenses. Level 1 Preventive Care Level 1 includes 100% coverage for preventive care, such as annual physicals and screenings based on age and gender. These services are provided at no cost to you when you use an in-network provider. Preventive care sets the foundation for all of your health care, and is the first step to staying healthy. Under current federal tax guidance, the following services are considered preventive care: Periodic health evaluations, such as annual physicals; Well-child care; Child and adult immunizations, and Screening services for a variety of conditions including cancer and heart disease. The deductible will be waived for certain preventive drugs. Those preventive drugs include various types of vitamins (geriatric, pediatric, and prenatal), cholesterol-lowering agents, agents for osteoporosis, and diabetes therapies. HDHP Level 4 Out-of-Pocket Maximum Level 3 Coinsurance Level 2 Annual Deductible Level 1 Preventive Care 100% HSA Tax-free contributions Tax-free earnings Tax-free withdrawals for eligible expenses Once the money is in the account it is yours to keep (no use-it-or-lose-it rule) HSA MasterCard to pay for expenses Easy online account management Level 2 Annual Deductible The next level is the annual deductible. Your annual deductible is the amount you need to pay before your medical and prescription drug plan pays for benefits. The annual deductible when you elect coverage for yourself is $1,600. If you choose to cover anyone in addition to yourself, the annual deductible is $3,200. One or more family members combined must meet the entire deductible that applies for family coverage before the Plan begins paying non-preventive care benefits, including prescription drug benefits. The HDHP has a combined deductible for medical and prescription drugs. With the exception of some preventive care medications, prescription drugs are not covered until the annual deductible is met. This means that you will pay the full cost of a doctor s visit or prescription drug until the deductible is met. You can use funds from your Health Savings Account balance to help pay for eligible health care expenses, both before and after you meet the deductible. Regardless of whether or not you use your HSA balance to offset the deductible, you are responsible for the annual deductible. Both prescription and medical expenses count toward the deductible. 9 Level 3 Coinsurance After the annual deductible is met, coinsurance begins. Coinsurance means you and the Plan share the cost of eligible expenses. The Plan pays a percentage of your expenses 90% for in-network services and you will pay the remaining 10% percent. If you use out-of-network providers, the Plan pays 70% of reasonable and customary charges and you will pay 30%. It s important to remember that not only is your cost lower when you use an innetwork provider, due to network discounts, NYU s cost is also lower. In-network providers have agreed to charge lower rates so both you and NYU pay less. Level 4 Out-of-Pocket Maximum Once you reach the out-of-pocket maximum, the Plan pays 100% of covered medical expenses for the rest of that calendar year. This limit is based on the family members you cover and whether you receive in- or out-of-network care.

10 High Deductible Health Plan (HDHP) with Health Savings Account (HSA) HDHP with HSA In-Network Out-of-Network Annual Deductible Until the combined medical and prescription drug deductible is met, you will pay the full cost of your non-preventive medical expenses and non-preventive prescription drug expenses.* Employee Only $1,600 $1,600 Family coverage includes: Employee + Spouse/Domestic Partner Employee + Child(ren) Employee + Spouse/Domestic Partner + Child(ren) $3,200 $3,200 Coinsurance (Your portion after annual deductible is met) Medical Primary Care Physician Visit Specialty Care Physician Visit Inpatient Hospital Outpatient Hospital Lab Tests (outpatient facility) Prescription Drugs Rx Retail (30 Days) Rx Mail (90 Days) 10% 30% 10% 30% Out-of-pocket Maximum Employee Only $3,000 $5,000 Family coverage includes: Employee + Spouse/Domestic Partner Employee + Child(ren) Employee + Spouse/Domestic Partner + Child(ren) $6,000 $10,000 * Prescribed preventive drugs on the CVS/Caremark Preventive Drug Therapy List are not subject to the deductible. Coinsurance of 10% will apply. 10

11 High Deductible Health Plan (HDHP) with Health Savings Account (HSA) Accumulate Savings for Health Care Expenses with a Health Savings Account (HSA) When you enroll in the HDHP with HSA option, you will establish an account with OptumHealth Bank. The HSA has a triple tax advantage and offers a great opportunity to build a savings account to pay for your health care expenses today or in the future. Deposits are free from income tax, you pay no tax on any interest you earn, and withdrawals for eligible expenses are free from income tax. The HSA works similar to a bank account but it is dedicated to eligible health care expenses. If you don t use all the money, your account rolls over from year to year. You choose to spend or save these dollars to pay for your eligible medical, dental, prescription, or vision expenses. Similar to a 403(b), you can contribute to your HSA on a pre-tax basis up to IRS limits. For 2013 you can contribute up to $3,250 for individual coverage and $6,450 for all other coverage levels into the HSA. If you do not use all of the money in your HSA during the plan year, it rolls over to the next year. Once the money is in the account, it is yours to use towards eligible out-of-pocket health care expenses now or in the future. You can also take the money in the HSA with you if you leave NYU or retire. In addition, the accounts are FDIC insured. HSA Tips Save your receipts Set up internet banking Use your HSA MasterCard as credit or debit You may invest your HSA in mutual funds once your account balance reaches $2,000. Investment options range from Fixed Income to International, Lifestyle to Index. OptumHealth Bank will provide additional information in the Welcome Kit you will receive. Any investments in mutual funds are not FDIC insured, are not guaranteed by OptumHealth Bank or NYU, and may lose value. Who Can Open an HSA? Federal tax law allows only eligible individuals to open and contribute to an HSA. Eligible individuals are defined as individuals who: Are covered under an HDHP. You may only participate in the HSA if you elect to enroll in the HDHP medical option; Are not covered under a non-high deductible health plan, even as a dependent under your spouse s plan; Are not enrolled in Medicare (meaning, generally, have not reached age 65), and Cannot be claimed as a dependent on another person s tax return. Please note: In order for your HSA to be established on January 1, 2013, your Health Care FSA balance for 2012 must be exhausted as of December 31, Health Care FSA claims must be submitted with all required documentation by December 21, 2012, to ensure your payments are processed before the end of the year. If you have a balance remaining in January, you can enroll in the HDHP with HSA option; however, your HSA will not open for contributions until April 1, In that case, only expenses incurred after March 31, 2013, can be reimbursed from the HSA. After you enroll in the HDHP with HSA option, you will receive an with instructions and a link to OptumHealth Bank to open your Health Savings Account online. Once your HSA is open, you will receive a Welcome Kit from OptumHealth Bank with information on managing your HSA. 11

12 High Deductible Health Plan (HDHP) with Health Savings Account (HSA) Employee Contributions to the HSA NYU Contributions to the HSA There are three ways you can contribute to the HSA: The first is to contribute through pre-tax payroll deductions. You may change your HSA pre-tax contribution amount any time during the year. The second option is to make tax deductible out-ofpocket contributions. You can make these contributions in a couple of different ways. As your account will be set up with OptumHealth Bank, you can transfer money from another bank account through internet banking. You can also set up automatic contributions via ACH transfer. Or you may send a check with a contribution form. The third option is to have someone else contribute on your behalf. These contributions will be post-tax; however, you will not pay income tax on any earnings or on withdrawals used to pay for eligible health care expenses. There are a few things to keep in mind when deciding how much to contribute. 1. If you enroll in the HDHP with HSA and enroll dependents who are not tax-qualified dependents, federal law does not allow you to be reimbursed for their expenses through an HSA. If you enroll a domestic partner or a same-sex spouse in the HDHP, he/she must be a tax-qualified dependent in order to have his/her expenses reimbursed through an HSA. We suggest that you seek guidance from your personal tax advisor to confirm the eligibility of any dependents for whom you plan to take HSA distributions. 2. Remember, funds roll over from year to year. The use-it-or-lose-it rule that applies to FSAs does not apply to HSAs. 3. Keep in mind the great tax benefits that apply to your deposits, earnings, and withdrawals when you save with the HSA. Employee Contribution Limit for 2013 Individual Family $3,250 $6,450 NYU may also make a contribution to the HSA for 2013 if you earn less than $75,000 per year. Keep in mind to receive the NYU contribution you must open your HSA with OptumHealth Bank, even if you are not going to contribute to the HSA yourself. Annual Salary 2013 NYU Contribution < $50,000 $500 $50,000 - $74,999 $250 $75,000 or above $0 Using Your HSA You decide how to use your HSA funds: Pay for eligible health care expenses as you incur them. This includes hospital services, prescriptions, dental, vision, and other eligible health care expenses. Save for future medical expenses. You can use the HSA to save for health care expenses in future years or retirement. Pay expenses even after you leave NYU. Even if you leave NYU, the funds in your HSA (both your contributions and any contributions from NYU) are yours to keep and use for eligible health care expenses. Beginning at age 65, you can use your HSA funds for medical expenses not covered by Medicare. Penalty for non-qualified health expenses. Nonqualified health care expenses paid through your HSA are subject to a 20% penalty in addition to income tax. A list of Qualified Medical Expenses can be found in IRS Publication 502: If age 55 or older $4,250 $7,450 12

13 High Deductible Health Plan (HDHP) with Health Savings Account (HSA) IMPORTANT INFORMATION! If you enroll in the HDHP with HSA and enroll dependents who are not tax-qualified dependents, federal law does not allow you to be reimbursed for their expenses through an HSA. If you enroll a domestic partner or a same-sex spouse in the HDHP, he/she must be a tax-qualified dependent in order to have his/her expenses reimbursed through an HSA. You should consult your personal tax advisor to confirm the eligibility of any dependents for whom you plan to take HSA distributions. You are not eligible for the HSA if you are covered under another plan (i.e., a spouse s plan or Medicare) unless that plan is a qualifying High Deductible Health Plan. Your spouse cannot have a general purpose Health Care FSA. Qualified withdrawals include expenses such as deductibles, coinsurance, and charges that exceed allowed charge limits. Services such as dental care, chiropractic services, vision care including laser eye surgery, physical therapy, mental health care, and products and medications that are prescribed by a physician are also considered qualified withdrawals. It is important to note that you may only withdraw up to the dollar amount that has been deposited into your HSA at the time of withdrawal. Any HSA funds that have been invested must be liquidated before they are available to pay expenses. Fees may apply. Non-qualified health care expenses reimbursed through your HSA are subject to income tax. A 20% penalty will apply if the non-qualified distribution is taken prior to age

14 Your NYU Prescription Drug Plan You automatically receive prescription drug coverage through CVS/Caremark when you enroll in an NYU medical plan. The cost of your medication will depend on the type of drug (i.e., generic, brand-name on the CVS/Caremark Primary Drug List, or brand-name not on the CVS/Caremark Primary Drug List) as well as whether you fill the prescription through a retail pharmacy or the Mail Order Service. If you or your dependent(s) take any maintenance medications regularly (i.e., for three months or more), you are required to fill your prescription through the Mail Order Service. Keep in mind you also have the option to request that your mail order prescription be delivered to your local CVS pharmacy, rather than your home, through CVS/Caremark s Maintenance Choice program. You should receive a CVS/Caremark ID card within two weeks of your enrollment on the Benefits Resource Center. For employees enrolled in Oxford Freedom HMO, Aetna HMO, UnitedHealthcare Choice Plus Value Plan, or UnitedHealthcare Choice Plus Advantage Plan: If you use a pharmacy that does not participate in CVS/ Caremark to fill a prescription, you will pay 100% of the retail price. You will then need to submit a claim form for reimbursement, along with an original prescription receipt. You will only be reimbursed for the cost the plan would have paid had you gone to a network pharmacy (discounted price), less the applicable copay. In most cases, the discounted price will be less than the retail price, so you will end up paying more. You can get a list of network pharmacies from the Caremark website at caremark.com, or call You can save the most money on prescriptions by opting for the generic prescription. Generic drugs are FDA-approved, chemically-identical versions of brand-name drugs. You can also save money when you use a brand-name drug on the CVS/Caremark Primary Drug List. For each prescription you fill, your cost will be as follows: Oxford Freedom HMO, Aetna HMO, UnitedHealthcare Choice Plus Value Plan, and UnitedHealthcare Choice Plus Advantage Plan UnitedHealthcare HDHP with HSA Plan Type of Prescription Copayment Coinsurance (your portion after deductible is met) Retail pharmacy 30-day supply Retail Generic $10 Brand-name on CVS/Caremark s Primary Drug List $35 10%* Brand-name not on CVS/Caremark s Primary Drug List $55 Maintenance medication filled three or more times $75* Mail Order 90-day supply 180-day supply Mail Order Generic $5 $10 Brand-name on CVS/Caremark s Primary Drug List $75 $150 10%* Brand-name not on CVS/Caremark s Primary Drug List $90 $180 * Until the combined medical and prescription drug deductible is met, you will pay the full cost of your non-preventive medical expenses and non-preventive prescription drug expenses. Preventive drugs on the CVS/Caremark Preventive Drug Therapy List are not subject to the deductible. Coinsurance of 10% will apply. 14

15 Your 2013 Medical Contributions Your monthly medical plan contributions are based on the plan you choose, level of coverage, and your annual base salary. NYU pays the majority of the cost of health care coverage for all eligible employees. Plan Coverage Category Tier 1 Base Salary Under $50,000 Tier 2 Base Salary $50,000- $74,999 Tier 3 Base Salary $75,000- $124,999 Tier 4 Base Salary $125,000+ UnitedHealthcare HDHP with HSA Plan Employee Employee + Spouse/Domestic Partner $22 $100 $43 $136 $65 $181 $81 $235 Employee + Child(ren) $90 $122 $164 $213 Employee + Spouse/Domestic Partner + Child(ren) $142 $194 $258 $335 UnitedHealthcare Choice Plus Value Plan Employee Employee + Spouse/Domestic Partner $13 $114 $48 $174 $84 $249 $113 $341 Employee + Child(ren) $103 $159 $228 $308 Employee + Spouse/Domestic Partner + Child(ren) $164 $249 $358 $488 UnitedHealthcare Choice Plus Advantage Plan Employee Employee + Spouse/Domestic Partner $37 $166 $72 $226 $109 $301 $135 $392 Employee + Child(ren) $150 $204 $274 $355 Employee + Spouse/Domestic Partner + Child(ren) $236 $323 $430 $559 Aetna HMO Employee $67 $102 $140 $167 Employee + Spouse/Domestic Partner $230 $290 $365 $457 Employee + Child(ren) $210 $263 $332 $414 Employee + Spouse/Domestic Partner + Child(ren) $329 $415 $522 $652 Oxford Freedom HMO Employee $92 $128 $164 $192 Employee + Spouse/Domestic Partner $283 $344 $419 $509 Employee + Child(ren) $257 $312 $379 $462 Employee + Spouse/Domestic Partner + Child(ren) $405 $491 $599 $728 15

16 Your NYU MetLife Dental Plan With the NYU Dental Plan, administered by MetLife, you have the freedom of choice to visit any dentist, whether they are in or out of the MetLife PDP network. With over 110,000 participating MetLife dentists in the network, and 500 located in Manhattan, you and your family have a wide range of choices. To find out if a dentist participates in the PDP network, or to locate a MetLife dentist, call , or go to MetLife.com. Dental ID Cards You will not receive an ID card from MetLife as ID cards are not required to receive dental services. However, to print your own ID card and/or to use the many other features of MetLife s participant website, login to metlife.com/mybenefits. Enter New York University when asked for Company Name. From there, click on the Dental tab and then follow the prompts to either sign in using your username and password, or to register if this is your first time visiting the site, using either your Social Security number or your University ID number on the back of your NYU ID card (excluding the N ). Once on the site, you will have the ability to view your plan coverage, check the status of a claim, search for a dentist, or print an ID card. We encourage all dental plan participants to register on the metlife.com/mybenefits website and take advantage of the many tools and resources available. If you have any questions, please contact the Benefits Office at benefits@nyu.edu or Coverage Type TYPE A: Diagnostic and Preventive Routine oral exams, cleanings, fluoride treatments, X-rays, space maintainers One application of sealant every five years (restricted to non-restored/non-decayed first and second molars, dependent children up to age 19) TYPE B: Basic Restorative Fillings, simple extractions, crowns, dentures and bridge repairs, endodontics (root canal), oral surgery, periodontics TYPE C: Major Restorative Bridges and dentures, crowns, inlays, and onlays Temporomandibular Joint Syndrome (TJS) Plan Covers 100%* (Not subject to deductible. Limited to two covered visits per calendar year.) 80%* 50%* TYPE D: Orthodontia (per person) 50%* Annual Deductible Annual Maximum Benefit $50 $150 $2,000 per person Orthodontia Lifetime Maximum $1,500 Periodontal Lifetime Maximum $2,500 TMJ Lifetime Maximum $1,500 * Reasonable and Customary (R&C) charges are the maximum charges that the NYU MetLife Dental Plan will consider for a particular service in a particular area when you use a provider who does not participate in MetLife s network of dentists. R&C limits are generally determined by geography, as charges can vary widely for the same service in different parts of the country. Your total out-of-pocket cost for dental work may include provider charges that are above the plan s R&C allowance Dental Plan Contributions If you elect to participate in the NYU MetLife Dental Plan, your monthly contributions will depend on the level of coverage you select, as follows: Employee Only: $10 per month Employee + Spouse/Domestic Partner: $38 per month Employee + Child(ren): $36 per month Employee + Spouse/Domestic Partner + Child(ren): $50 per month 16

17 Your NYU Vision Plan You can enroll yourself and/or your eligible dependent(s) in vision coverage, administered by Vision Service Plan (VSP). You receive the highest level of coverage when you use an in-network VSP provider. The VSP network is comprised of more than 24,000 private-practice doctors located throughout the country. For additional information, or to print an ID card, visit VSP.com. This benefit provides coverage for eye exams, eyeglasses, and contact lenses, as follows: Service VSP Provider Non-VSP Provider WellVision Exam * Retinal Screenings Lenses* Single Lined bifocal Lined trifocal 100% covered after $15 copay 100% covered after $39 copay 100% covered after $15 copay 100% covered after $15 copay 100% covered after $15 copay Covered up to $50 Not covered Covered up to $50 Covered up to $75 Covered up to $100 Frames* Covered up to $160 Covered up to $70 Elective Contact Lenses (in place of lenses and frames) Covered up to $160 Covered up to $105 * Once every 12 months Vision Coverage Contributions If you elect to participate in vision coverage, your monthly contributions will depend on the level of coverage you select, as follows: Employee Only: $6.84 per month Employee + One: $14.37 per month Employee + Family: $22.32 per month 17

18 NYU Benefits that Help You Save Flexible Spending Accounts Flexible Spending Accounts (FSAs) offer you a chance to use tax-free dollars to reimburse yourself for eligible health care and/or dependent care expenses. In order to participate in a Health Care FSA and/or a Dependent Care FSA for 2013, you must enroll within 31 days from your date of hire. To participate in the FSA plans in subsequent years, you must actively enroll during the Annual Enrollment period. A Health Care FSA pays for qualified health care expenses not covered or reimbursed by your health insurance plans. Dependent Care FSAs may be used for eligible day care expenses incurred so that you (or you and your spouse) can work. Your child and/or dependent care expenses must be for the care of one or more qualified dependent(s). Your qualified dependent(s) for a Dependent Care FSA may include: Your child(ren) under age 13. Dependents of any age who are mentally or physically incapable of caring for themselves, and whom you claim as a dependent on your federal income tax return. According to the IRS s use-it-or-lose-it rule, if you do not use all the money in your FSA for expenses incurred during the plan year, you will forfeit the unused balance. Your unused balance cannot be carried over into the next year. You may elect to enroll in either the Health Care FSA or the Health Savings Account (HSA) for By Federal law, you may not enroll in both accounts in one plan year. You may not elect the Health Care Flexible Spending Account (FSA) for 2013 if you choose to enroll in the new HDHP with HSA option. When you elect the HDHP with HSA, the HSA is designed to reimburse you for all eligible, out-of-pocket health care expenses. FSA Reimbursement Options Through WageWorks If you enroll in a Health Care FSA, you will be issued a WageWorks Health Care (debit) Card that can be used instead of cash or credit at health care providers and pharmacies for eligible services, goods, and prescriptions. The money comes right out of your Health Care FSA, so in most cases, you will not need to submit a claim or wait for reimbursement. Through WageWorks Pay My Provider option, you can choose to have WageWorks pay a provider directly or you may choose to submit a claim online through Wageworks Pay Me Back feature. For more information regarding tools and resources available to manage your FSA, visit wageworks.com. Important: If you enroll in a 2013 FSA, only qualified expenses incurred between January 1, 2013, and December 31, 2013, will be eligible for reimbursement. Claims must be submitted to WageWorks by June 30, Any unused balance remaining in your account after June 30, 2014, will be forfeited and cannot be returned in accordance with IRS regulations. Remember, you cannot use the Dependent Care FSA to reimburse for health care expenses incurred by a dependent. 18

19 NYU Benefits that Help You Save The following chart provides an overview of how the FSAs work. Be sure to pay close attention to which expenses are covered and not covered under each account. Health Care FSA Dependent Care FSA How much you can contribute per year Between $120 and $2,500 Between $120 and $5,000 (up to $2,500 if you are married and file taxes separately) Examples of eligible expenses Examples of non-eligible expenses Annual deductibles Copayments Coinsurance Medical products such as bandages, saline solution, etc. Cosmetic procedures Late charges Weight loss program food Over-the-counter medications (unless you have a written prescription from your doctor or it is insulin) Adult day care centers Babysitters* for children under age 13 Child day care for children under age 13 Elder care Educational fees/tuition Overnight camps Food Clothing Health care expenses incurred by a dependent * To submit a Dependent Care FSA claim for a babysitter, you must provide his/her Employee ID number (EIN) or Social Security number (SSN). For a list of eligible and ineligible expenses, go to wageworks.com. How to File for Reimbursement First, make sure that you or your provider submits the expense to any benefit plan in which you are covered for the same services. As a new hire or first-time enrollee in the Health Care FSA, your account is set to reimburse you automatically for eligible expenses using the WageWorks Automatic Health Plan Claim (AHPC) feature. You can use this feature as long as you don t activate your WageWorks Health Care Card. Activating the WageWorks Health Care Card will turn the auto pay feature off. Automatic Health Plan Claim (AHPC) When you visit a health care provider such as a doctor or dentist and are enrolled in one of the NYU medical plans, the NYU MetLife Dental Plan, and/or the NYU Vision Plan, your insurance carrier provides the amount of the transaction not covered by the health plan to WageWorks. The amount not covered represents the out-of-pocket cost for which your FSA can be used. A payment will be made directly to you from your FSA as long as the claim is filed and processed by the claims administrator by June 30 th of the following calendar-year deadline. OR Use your WageWorks Health care Card You may use your Card instead of cash or credit at health care providers and pharmacies for eligible services, goods, and prescriptions. You can also use the Card at general merchants and through stores that have an industry standard (IIAS) check-out system that can automatically verify if the item is eligible for purchase with your account. If WageWorks is unable to determine that your Card was used to pay for eligible health care products and services, you will be contacted with instructions on how to submit verification of the expense. 19

20 Your Nyu Retirement Benefits NYU Retirement Plan The NYU Retirement Plan is a defined contribution plan under Section 403(b) of the Internal Revenue Code. You can join the NYU Retirement Plan if you are in an eligible job category at NYU, you normally work at least 20 hours per week, and you have completed one year of service (see When Can You Participate? on page 21). How the NYU Retirement Plan Works NYU provides a non-matching contribution of 5% of your retirement-eligible salary after one year of service. In addition, for every 1% of salary you elect to contribute to the Plan, NYU will match each 1% up to a maximum of 5% of your retirement-eligible salary (see the chart below). If you elect to contribute more than 5% of your retirementeligible salary (subject to IRS limits), those contributions will be deposited into the Supplemental Tax-Deferred Annuity (STDA) Plan. (See the STDA Plan on page 22.) You choose how to invest your contributions from an extensive choice of TIAA-CREF and Vanguard funds. Please visit the Faculty Benefits or Employee Benefits website at NYU.edu for recent TIAA-CREF and Vanguard fund performance. Your Contribution* NYU Contribution Total Employee and NYU Contributions 0% 5% 5% 1% 6% 7% 2% 7% 9% 3% 8% 11% 4% 9% 13% 5% 10% 15% Above 5% The University does not match contributions above 5% but you can still contribute up to IRS annual limits (2013 limits are $17,500 if you are under age 50 and $23,000 if you are age 50 or older). * Note: For 2013, the IRS limit for retirement-eligible earnings is $255,