2018 Benefits Highlights Booklet
Human Resources encourages you to carefully review the Benefits Highlights Booklet. A number of new benefit offerings and changes will be available for 2018:
- Wellness Incentive: Beginning January 1, 2018, medical plan participants, including covered spouses/legally domiciled adults, will be required to participate in the biometric screening and complete the Health Power Assessment in order to receive a $50-per-month health insurance premium reduction.
- Tobacco Premium: Beginning January 1, 2018, employees enrolled in the medical plan who have used tobacco products in the last three months, will incur a $50-per-month charge on your medical premium.
- New Medical Plan Option: Beginning January 1, 2018, a second PPO medical plan through Blue Cross Blue Shield will be introduced. If you select this plan, you will pay less up front—with lower monthly premiums—but please be prepared to pay a higher deductible.
- Change to Prescription Drug Benefit: Beginning January 1, 2018, a new company will administer the prescription drug benefit that is part of our medical plan. Loyola has worked to minimize disruption for members, and employees are encouraged to review information provided in preparation for this change.
- Compare Costs for Rewards: Beginning January 1, 2018, medical plan participants can earn cash back if you elect to use lower cost providers for most ancillary services. Contact a Benefits Value Advisor to help compare costs on your next procedure and the cash reward may vary from $50–$500 depending on the medical care performed. Your rewards are subject to tax.
- New Benefits Counseling: Meet Alex, your new personalized benefits counselor. During Open Enrollment, Loyola will introduce a new online communication and decision-making tool named “Alex.” This tool will be available to help you better understand our competitive and comprehensive benefits. Alex will provide interactive assistance to help you determine which plans are the best fit for you and your family.