Your Benefits Update

                  

 

             Updated 10/12/06

 

2007 Medical Insurance Premium Rates
 
Effective January 1, 2007, medical insurance premiums will increase for the following Union insurance plans.
 
NIPSCO/USWA Traditional Plan        PPO        Standard Plan II (Catastrophic)    Part-Time/TWF
               8.4%                                    15.1%                    16%                                    13.3%

 

 

2006 MEDICAL INSURANCE PREMIUM RATES
 
Effective January 1, 2006, premiums will increase for the following Union insurance plans:
 
NIPSCO Traditional Plan     PPO            Standard Plan II (Catastrophic)        Part-Time/TWF
            15.9%                      13.4%                             10.5%                                   15.8%
 
 
2006 Benefits Enrollment Period
Enrollment for 2006 Medical, Dental, Life and Flexible Savings Account Benefits will begin mid-October for active employees. Benefit enrollment for retirees is scheduled for early November.  Information guides itemizing 2006 benefit costs will be sent to all employees and retirees prior to their respective enrollment period.   While many employees will stay with their current selection, this enrollment period will provide a window for those who want to jump insurance plans or consider the flexible savings account options.  

 

From 06/27/05

        Retirement Choice  - Reminder---Beneficiary forms are being sent to those members who chose the Account Balance Plan between June 15 and July 1, 2005.  For future reference, keep a copy of your completed form. If you do not receive by July 5, 2005, please contact Cindy Ringler.

 If you chose the Account Balance Plan, verify that the Company is contributing the correct matching amount contribution in your 401(k) account. Effective June 1, 2005, the match should be $ .75 for each dollar you contribute each pay period, up to 6% of base pay for the pay period.  Your 401(k) account can be viewed by logging on to Fidelity Net Benefits @ www.401K.com or call Fidelity at 1-800-305-401k.

  Reminder – Prescription Drug Program Changes - The following changes occurred in the Prescription Drug Program effective 06-01-04.

For those employees who chose the Traditional Insurance Plan continue to have the current prescription drug coverage with the following changes:

For those employees who chose the PPO or Catastrophic Insurance Plans, the following outlines the prescription drug benefit:

            For Retail Pharmacies in the Network            For Mail-Order

 

You Pay

Minimum

Maximum

You Pay

Generic

20%

$  5

$15

$10

Formulary

20%

$15

$45

$30

Non-Formulary

20%

$30

$90

$60

Note: You can access the Drug Formulary Guide at Walgreens.com.  $750.00 maximum out of pocket annually.

 

FINALLY! ADJUSTMENT(S) MADE TO POINTS ON ATTENDANCE STATUS REPORTS – Review and make sure correct – If not, contact your griever.

             Vacation Earned/Used YTD on Payroll Checks – Company is busy reconciling last year’s vacation hours. Once that is completed (perhaps end of July), your paycheck should reflect the 2005-2006 vacation hours earned and taken.  Again, review and report any discrepancy to your griever.

 

From 06/09/2005

        Retirement Choice

          Per the Company, confirmation statements are being mailed to all bargaining employees who were eligible to make a retirement choice.   Statements will be sent to those bargaining unit employees:

·         Who made the Account Balance choice

·         Who elected via the phone or web to remain in the Final Average    Pay Plan

·         Who did not make a choice and defaulted into the Final Average Pay Plan   

 Verify that your statement reflects the correct retirement choice and place it with your other important papers.  If you do not receive this statement by June 24, 2005, please contact the Union Office.

 Beneficiary forms will be sent to those members who chose the Account Balance Plan between June 15 and July 1, 2005.  Again, keep a copy of your completed form for future reference. If you do not receive by July 5, 2005, please contact the Union Office. 

Reminder – Retiree Medical Insurance Premium Changes

       All employees who retire on or after January 1, 2005 will share premiums on the following schedule (the increases will apply to everyone in this group as the increases become effective):

          Effective January 1, 2005: 19% by the retiree and 81% by the Company

            Effective January 1, 2007: 21% by the retiree and 79% by the Company

            Effective January 1, 2009: 23% by the retiree and 77% by the Company

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