2013 Benefits Newsletter - Spartech Corporation

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2013 Open Enrollment Newsletter Dental Dental benefits will continue to be provided through Aetna. Benefit highlights are illustrated below. Benefits are the same in and out of network; however, if you utilize Aetna network providers you will receive negotiated, contracted rates, which are in many cases lower than those charged by non-network providers. You may access a list of network providers at www.aetna.com. Non-Network providers do not have a contract with Aetna and patients could be subject to “balance billing”. Aetna will reimburse out of network providers based on what is usual and customary for a specific geographic region. Dental coverage may be elected independently or in any combination with medical or vision. Vision Vision benefits are offered through Superior Vision. Superior Vision’s extensive network includes retail and private practice providers. Superior Vision—Voluntary Coverage/Employee Paid Frequency of Service Exam Materials Lenses Frames Contact Lenses (in lieu of frames & lenses) Every 12 months Every 12 months Every 24 months Every 12 months Benefit In-Network Out-of-Network Eye Exam Covered in Full Up to $37 Single Lens Covered in Full Up to $32 Bifocal Covered in Full Up to $46 Trifocals Covered in Full Up to $61 Lenticular Lenses Covered in Full Up to $84 Frames Contact Lenses—Medical Necessity ** Elective Contact Lenses * Up to $125 retail allowance Up to $68 Covered in Full Up to $210 Up to $120 allowance Up to $120 Dental—Aetna Deductible Individual $50 Family $150 Annual Benefit Maximum $1,000 Preventative—cleanings, exams, x-rays 100% Basic—fillings, extractions, root canals 80% Major—crowns, dentures 50% Orthodontia (Children to age 19 only) Deductible $0 Coinsurance 50% Lifetime Max $1,000 Balance Billing is the practice of billing the patient for amounts over what is usual and customary for a particular service and you will be responsible for paying the difference. * Contact lens evaluation and fitting is subject to a $25 copay National retailers include but not limited to: JC Penney Optical LensCrafters Pearle Vision Sears Optical Target Optical Wal-Mart Vision Centers For a complete listing of providers log onto the Superior Vision website at www.superiorvision.com (Click on Members & Future Members, then Locate a Provider) or by calling Customer Service at 800-507-3800. 8
Spartech Flexible Spending Accounts (FSA) Flexible Spending Accounts are tax favored accounts that allow you to pay for eligible medical and dependent care expenses with pre-tax dollars. There are two flexible spending accounts available to you regardless of participation in a medical plan. You may contribute to the Healthcare Flexible Spending Account if: 1. You participate in the PPO option, or 2. You are over the age of 65, you participate in the HSA and are covered by Medicare, or 3. You do not have medical coverage through Spartech Regardless of the medical plan you elect, you may contribute to the Dependent Care Flexible Spending Account. PayFlex administers both accounts. You must make a new election each year if you wish to participate in either or both flex spending accounts. It is important to be cautious with your election as any unused funds are not rolled over and are forfeited at the end of the plan year. Healthcare FSA Effective January 1, 2013 Health Reform requirements will limit the maximum amount a participant can contribute to the Healthcare FSA to $2,500 annually. Your contribution is a pre-tax payroll deduction each period. The Healthcare FSA offers a grace period where you may incur claims through March 15th of the following year and claim against the previous year’s funds. Please note you cannot elect the Healthcare FSA plan in 2013 if you elect the HSA Plan. In addition, employee and employer contributions may not be made to the HSA until the funds in the Healthcare FSA have been used or forfeited, per IRS rules. In order to contribute to the HSA immediately following the beginning of the new plan year, you must have a zero balance in the Healthcare FSA as of December 31. Eligible expenses include copayments, deductibles, coinsurance, healthcare expenses not covered by the medical, dental or vision plans, and hearing aids. Over-thecounter medications are not eligible under the healthcare flexible spending account without a doctor’s prescription. Dependent Care FSA You may also contribute up to $5,000 ($2,500 if married and file taxes separately) to a Dependent Care FSA to pay for eligible child care and elder care expenses. Examples of eligible expenses include payments to nursery schools, day care centers, before and after school care and day care expenses for dependent parents who spend at least 8 hours per day in your home. You may contribute to the Dependent Care FSA regardless of medical plan election. For a complete listing of eligible health care and dependent care expenses please see IRS Publication 502 by logging onto www.irs.gov. 9
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2013 Benefits Newsletter - Spartech Corporation

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