Gearing Up for Open Enrollment: What’s New and What’s Staying Same

PHILADELPHIA, Pennsylvania, March 30 -- The University of Pennsylvania issued the following news:

Landing a job at Penn comes chock-full with perks, including exceptional health benefits. But what employees chose for coverage last year might differ from what they want for the year ahead. That's where Open Enrollment comes into play.

Every spring, the Division of Human Resources (HR) offers Open Enrollment, essentially a two-week selection period that allows faculty and staff to make changes to their health care elections. It also is a time for HR to inform the University community of any plan changes. This year's Open Enrollment runs from April 23 to May 4.

Typically, employees see their medical rates increase, but this year, costs for medical plans, and the plans themselves, will stay the same. They include the PennCare/Personal Choice PPO; Aetna Choice POS II; Keystone/AmeriHealth HMO; and the Aetna High Deductible Health Plan with HSA. (Rates for dental and vision coverage will increase slightly.)

"It's always challenging, if not almost impossible, for organizations to keep medical rates flat, so I am thrilled that Penn's medical plan rates will not increase and there are no plan design changes," says Vice President for HR Jack Heuer. "For those remaining in the same medical plan, there will be no increase in their out-of-paycheck costs."

Although the health care market in general has experienced a six percent medical cost inflation throughout the past few years, Penn's plan costs have been much lower than the industry trend. Plan design changes, a favorable claims experience, enhanced prescription drug management, wellness initiatives, and better employee consumerism have resulted in this positive trend in cost.

"Every year, we look at what the cost of our benefits have been, and work with experts who help us determine what the costs will likely be in the future," says Sue Sproat, executive director of benefits in HR. "Our experience has been better than the predictions, so we took this as an opportunity to not increase rates for our participants."

Rate increase or not, it's still important to take the time to reassess medical benefits, says Sproat.

"Although you hope you never have to use it, or you don't use it very much, it's still a big financial decision," she says. "Each of the plans offer a different type of methodology of getting insurance, and you should really look and see at this time in your life what is the best one for you and your family."

The only other time throughout the year that alterations can be made to benefits is if an employee experiences a qualifying life event--for instance, if he or she gets married, turns 26, has a child, or gets divorced.

During Open Enrollment, faculty and staff may also want to consider changes to their life insurance and review or update their beneficiaries. Employees may enroll in retirement savings at any time throughout the year.

An Open Enrollment mailing has been sent to employees, and discusses adjustments that have been made for the 2018-19 plan year, including a name change for the Penn Dental Plan to Penn Family Plan, improvements to fertility benefits, a change in the flexible spending account limit, and some modifications to the Health Savings Account family maximum contribution. Part-time staff should stay tuned for more information detailing Penn's Aetna POS II Standard Plan (formerly called the ACA plan).

Five Open Enrollment presentations and Q&A sessions for faculty and staff will take place on campus in the coming weeks. The first is on Tuesday, April 3, from 11 a.m. to 1 p.m. in Houston Hall.

Two wellness fairs--one at Houston Hall and the other at the New Bolton Center--will take place at the end of April. Representatives from Penn's health care providers and administrators will be on site to share information.

Check out related, upcoming events and register for them on the HR website. https://www.hr.upenn.edu/PennHR/learn-grow/trainings-courses-and-webinars/onsite-programs