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500 State Hwy No. 33W, Room 1B, Millstone Township, NJ 08535 Telephone: (732) 446-2201 FAX: (732) 446-6152 www.cwalocal1022.org
BETH CORNWALL, President AMY T. LAFFERTY, Vice President MICHAEL C. TRAVALI, Secretary-Treasurer
M E M O R A N D U M - No. 15
Xerox verizon Benefits Center: (855) 489-2367 Verizon Benefits Connection: www.verizonbenefitsconnection.com/
In Unity,
BenefitsConnection
www.verizon.com/benefitsconnection
YOUR BENEFITS
CONNECTED
Dear Verizon Employee: During Annual Enrollment you have the opportunity to make changes to your Verizon coverage for the next year. However, if you are satisfied with your current coverage, you do not need to take any action. As a result of your 2012 labor contract, there are some changes to medical plan provisions. These are outlined in this booklet, so please read it carefully to ensure you are aware of what is changing on January 1, 2014. There are no changes to your dental or vision coverage. Premium contributions will increase for 2014 and are outlined in this booklet. You can also see your costs online on BenefitsConnection. As you prepare for Annual Enrollment and make your decisions for your 2014 coverage, you may be thinking about the impact of Health Care Reform on your Verizon benefits. In September, we sent you information about the Health Insurance Marketplace as required under the Affordable Care Act (ACA). Its important to note that while all Americans will be eligible to participate in the Marketplace beginning in 2014, you need to understand the following potential implications if you elect to forego your Verizon-sponsored health care coverage and enroll in a Marketplace option instead. hen Verizon employees enroll in a government-sponsored health care W plan, they will lose the company provided subsidy that covers about 90% of the premium cost. ecause Verizon offers health care coverage that is affordable to most B employees and meets the governments minimum value requirements, our employees likely will not be eligible for a government-provided tax credit or subsidy.
remiums paid for your Verizon-sponsored coverage are paid through P pre-tax dollars taken out of your paycheck, while premiums paid for coverage through the Marketplace will be made with after-tax dollars direct-billed to you eliminating a valuable tax benefit.
Again, because Verizon is providing you with access to quality and affordable health care coverage, it is not necessary for you to participate in a Marketplace option, and for the reasons stated above, your Verizonsponsored coverage will likely continue to be your best option. This year, new enhancements will make enrollment even easier, things like having your non-tobacco user status designation, discount for completing the Health Assessment, and your Flexible Spending Account elections automatically carry over to 2014. That means if you like your current coverage and wish to continue it, you truly do not need to take any action during Annual Enrollment. We are excited about these improvements, and we are very proud of the quality of health care benefits we provide to more than 740,000 employees, retirees and eligible dependents of Verizon. Please review the enclosed materials and decide if youd like to make any changes for 2014. Otherwise, you do not need to take any action. Sincerely,
So, if you are satisfied with your current benefit elections, no action is needed.
MEP PPO
PLAN PROVISION Deductible: In-Network Deductible: Out-of-Network Out-of-Pocket Maximum: In-Network 2013 $400 Individual/$1,000 Family $650 Individual/$1,625 Family $1,050 Individual/$2,625 Family 2014 $450 Individual/$1,125 Family $700 Individual/$1,750 Family $1,100 Individual/$2,750 Family
Important Note Your current tobacco user status will continue for 2014. If your status changes (you become a non-tobacco user, complete a smoking cessation program, or start using tobacco), update your status on BenefitsConnection.
No Medical Coverage
If you do not want medical coverage, you need to choose No Coverage during Annual Enrollment. If you choose No Coverage, you cannot enroll in coverage during the year unless you have a qualified life event or as otherwise required by law. Please refer to your SPD for guidelines on qualified life events.
Important Note about Supplemental Life Insurance The rates for Supplemental Life Insurance are based on age ranges. This means you may see an increase in the amount you are paying if you will be in the next rate tier during 2014.
This Annual Enrollment Guide provides updates to your existing Summary Plan Description(s) as of January 1, 2014. Please keep this Guide and any other summaries of material modifications with your SPDs. This Guide does not describe other benefit changes that will become effective in 2015 under the new labor contracts. As always, the official plan documents determine what benefits are provided to Verizon employees, retirees and their dependents.Your SPDs are available at www.verizon.com/benefitsconnection, or you can call the Verizon Benefits Center and request a printed copy free of charge. As explained in your SPD, Verizon reserves the right to amend or terminate any of its plans or policies at any time with or without notice or cause, subject to applicable law and any duty to bargain collectively.
VZN A6 MidAtlantic