Arthur J. Gallagher & Co. · NYSE:AJG
Arthur J. Gallagher & — Investor Presentation (October 2023)
54 slides from Arthur J. Gallagher &'s investor presentation, October 2023
Slide 1: University of California Postdoctoral Scholar Benefits Program
UNIVERSITY OF CALIFORNIA POSTDOCTORAL SCHOLAR BENEFITS PROGRAM Presented by Gallagher Benefit Services, Inc.
Slide 2: Agenda
Agenda What is Open Enrollment? Plan Eligibility Overview of the Benefits Overview of the Open Enrollment Process Q&A
Slide 3: What is Open Enrollment?
What is Open Enrollment? Open Enrollment is the period of time the University sets up each year to allow eligible postdocs to choose from the plans available to them. What changes can be made during Open Enrollment? Change from the medical HMO to the PPO plan or vice versa. Change from the denta
Slide 4: Plan Year 2024 Overview
Plan Year 2024 Overview Premium Rates & Contributions The 2024 medical rates will increase by 4.6% for the HMO plan and 7.89% for the PPO plan. The monthly contribution levels changes are listed below: • HMO: $13.30 for postdoc only; $23.27 for postdoc plus child(ren); $31.92 for postdoc plus spouse
Slide 5: What's New for 2024 – Benefit Changes
What’s New for 2024 – Benefit Changes UC is adding new benefits to the portfolio this year, including enhanced infertility coverage, acupuncture, and a higher allowance for vision materials. The Contraceptive Equity Act of 2022 (SB 523) requires all FDA-approved over-the-counter (OTC) contraception
Slide 6: What's New for 2024 – Benefit Changes cont'd
What’s New for 2024 – Benefit Changes cont’d Medical HMO Medical PPO Infertility Coverage Behavioral Health • IVF/GIFT/ZIFT covered at a 50% coinsurance (2 cycles per • Out-of-network mental health benefits in the PPO plan will reflect 2022 plan levels lifetime) • Infertility drugs are covered at a
Slide 7: Plan Eligibility
PLAN ELIGIBILITY
Slide 8: Postdoc Title Codes
Postdoc Title Codes Title Code 3252 (Postdoctoral Scholar-Employee) – Paid through the UC payroll system Title Code 3253 (Postdoctoral Scholar-Fellow) – Paid a stipend Title Code 3254 (Postdoctoral Scholar-Paid Direct) – Paid directly from an extramural agency Title Code 3255 (Postdoctoral Scholar-E
Slide 9: Family Member Eligibility
Family Member Eligibility Family member eligibility requirements are the same as the family member eligibility requirements for the UC Faculty and Staff plans. The major family member categories are the following: • Spouse • Domestic partner, as long as the domestic partnership is registered with a
Slide 10: Benefits Overview
BENEFITS OVERVIEW
Slide 11: Benefits Offered Through the PSBP
Benefits Offered Through the PSBP Medical Insurance – Health Net HMO and PPO / Health Net Behavioral Health Dental Insurance – Health Net HMO and Principal POS Vision Insurance – Health Net EyeMed PPO Life and AD&D Insurance – The Standard Insurance Short-Term Disability Insurance – The Standard Ins
Slide 12: Medical Insurance
MEDICAL INSURANCE
Slide 13: Health Net Behavioral Health
Health Net Behavioral Health • Behavioral health benefits are part of medical benefits o For outpatient visits (i.e. therapy or medication management) no referral nor authorization needed o For certain other services, prior authorization (PA) is required and differs by plan type (HMO vs. PPO) • Call
Slide 14: What is an HMO Plan?
What is an HMO Plan? • Primary Care Physician (PCP) acts as a gatekeeper for all of your care • Select a PCP upon enrollment through the UCPath website by using a link to the Health Net provider directory. Otherwise, Health Net will assign you one. • You can choose a PCP for each family member, or c
Slide 15: PSBP HMO Medical Plan
PSBP HMO Medical Plan HEALTH NET OF CALIFORNIA HEALTH NET PPO (IN-NETWORK) MEDICAL BENEFIT POSTDOCTORAL SCHOLAR PAYS PHYSICIAN OFFICE VISIT: $10 Copay HOSPITALIZATION Inpatient No Charge Outpatient No Charge Pregnancy No Charge RETAIL PRESCRIPTION DRUGS Generic $10 Copay Brand Name $20 Copay Non-For
Slide 16: HMO Behavioral Health
HMO Behavioral Health Service Referral/Authorization Copay Needed? Outpatient Therapy (in-person or via telehealth) - individual therapy, medication management No $10 Higher Levels of Care - inpatient psychiatric, residential treatment, inpatient Yes $0 detox Other Services - intensive outpatient, p
Slide 17: PDS Monthly Contributions
PDS Monthly Contributions HMO MEDICAL PLAN Effective January 1, 2024 all Postdoctoral Scholar (PDS) will make the following monthly contribution if enrolled in the Medical HMO Plan: COVERAGE TYPE MONTHLY CONTRIBUTION Postdoc Only $13.30 Postdoc + Spouse or Domestic Partner $31.92 Postdoc + Child(ren
Slide 18: What is a PPO Plan?
What is a PPO Plan? • No Primary Care Physician (PCP) needed • Includes an In-Network and Out-of-Network component • Flexibility to see a doctor without a referral either In-Network or Out-of-Network • Offers more flexibility to access physicians than in the HMO plan, but out-of-pocket costs tend to
Slide 19: PSBP PPO Medical Plan
PSBP PPO Medical Plan HEALTH NET OF CALIFORNIA HEALTH NET PPO (IN-NETWORK) HEALTH NET PPO (OUT-OF-NETWORK*) MEDICAL BENEFIT POSTDOCTORAL SCHOLAR PAYS POSTDOCTORAL SCHOLAR PAYS PHYSICIAN OFFICE VISIT: $20 Copay 40% HOSPITALIZATION Inpatient $250 Copay then 20% $250 Copay then 40% Outpatient $0 Copay
Slide 20: PPO Behavioral Health Benefits
PPO Behavioral Health Benefits Service Referral/Authorization In-Network Out-of-Network Needed? Outpatient Therapy (in-person or via In-person = $0 - deductible telehealth**) waived - individual therapy, psychiatric care / - Member pays any charges medication management No $0 which exceed Maximum Al
Slide 21: PPO Behavioral Health Benefits (cont'd)
PPO Behavioral Health Benefits (cont’d) Service Referral/Authorization In-Network Out-of-Network Needed? Inpatient services at a Hospital, 20% - deductible waived behavioral health facility or Residential - Member pays any charges Treatment Center No 20% which exceed Maximum Allowable Amount* Outpat
Slide 22: PDS Monthly Contributions
PDS Monthly Contributions PPO MEDICAL PLAN Effective January 1, 2024 all Postdoctoral Scholar (PDS) will make the following monthly contribution if enrolled in the Medical PPO Plan: COVERAGE TYPE MONTHLY CONTRIBUTION Postdoc Only $28.38 Postdoc + Spouse or Domestic Partner $68.11 Postdoc + Child(ren
Slide 23: Wellness Programs
Wellness Programs myStrength® is an interactive wellness platform (web and app-based) which provides self-management and self-care tools to improve health needs from a mind/body/spirit perspective. Modules span stress, depression, anxiety, insomnia, substance use disorder, chronic pain, balancing in
Slide 24: Wellness Programs
Wellness Programs SHARECARE® is a digital health platform which helps members manage their health in one place, using innovative, award-winning technology for a comprehensive, personal health profile where members can easily connect to information, programs and health professionals to support health
Slide 25: Wellness Programs
Wellness Programs Decision Power® programs through Health Net help reduce health risks while improving overall health and well-being. • Decision Power® for Smoking and Tobacco Cessation • Reduce heart disease and stroke risk • Structured Core Behavior Modification Program – in-app coaching, timed re
Slide 26: Dental Insurance
DENTAL INSURANCE
Slide 27: PSBP Dental DHMO Plan
PSBP Dental DHMO Plan HEALTH NET OF CALIFORNIA HEALTH NET DHMO DENTAL BENEFIT POSTDOCTORAL SCHOLAR PAYS CALENDAR YEAR DEDUCTIBLE: None DIAGNOSTIC & PREVENTIVE CARE: Routine Exams No Charge Teeth Cleanings No Charge Routine X-Rays No Charge BASIC PROCEDURES: Fillings Varies up to $80 copay Endodontic
Slide 28: What is a Dental POS Plan?
What is a Dental POS Plan? • Primary Care Dentist will not be assigned at the time of enrollment • Offers more flexibility than the DHMO plan, resulting in higher out-of-pocket costs • In-Network options – members will pay less when using In-Network providers. Either EPO or PPO providers. • Exclusiv
Slide 29: PSBP Dental POS Plan
PSBP Dental POS Plan PRINCIPAL FINANCIAL GROUP PRINCIPAL EPO/PPO (IN-NETWORK) PRINCIPAL PPO (OUT-OF-NETWORK) DENTAL BENEFIT POSTDOCTORAL SCHOLAR PAYS POSTDOCTORAL SCHOLAR PAYS CALENDAR YEAR DEDUCTIBLE: None $50 per person, waived for diagnostic and preventive care DIAGNOSTIC & PREVENTIVE CARE: Routi
Slide 30: Vision Insurance
VISION INSURANCE
Slide 31: PSBP Vision PPO Plan
PSBP Vision PPO Plan EYEMED THROUGH HEALTH NET OF CALIFORNIA GROUP HEALTH NET PPO (IN-NETWORK) HEALTH NET PPO (OUT-OF-NETWORK) VISION BENEFIT POSTDOCTORAL SCHOLAR PAYS POSTDOCTORAL SCHOLAR ALLOWANCE EXAM WITH DILATON AS NECESSARY: $0 Up to $40 STANDARD PLASTIC LENSES: Single $10 Copay Up to $40 Bifo
Slide 32: Health & Dependent Care Flexible Spending Accounts
HEALTH & DEPENDENT CARE FLEXIBLE SPENDING ACCOUNTS
Slide 33: Flexible Spending Accounts
Flexible Spending Accounts WEX HEALTH - 3252, 3255, 3256 Postdoctoral Scholars **Re-election of the FSA is required during Open Enrollment for 2024 participation** A Flexible Spending Account (FSA) is an employee benefit that allows you to have pre-tax dollars withheld from your paycheck to pay for
Slide 34: Flexible Spending Accounts
Flexible Spending Accounts WEX HEALTH - 3252, 3255, 3256 Postdoctoral Scholars Claims Deadlines and Grace Period Health FSA Dep Care FSA Plan Year Jan 1, 2024 – Dec 31, 2024 Deadline to Incur Claims Dec 31, 2024 Mar 15, 2025 if account status is active on Dec 31, 2024 Claims incurred during grace pe
Slide 35: Flexible Spending Accounts
Flexible Spending Accounts WEX HEALTH - 3252, 3255, 3256 Postdoctoral Scholars Health Care FSA Carryover – Only available for Health Care FSA funds • The carryover allows you to roll over up the certain amount into the next plan year • The 2024 carryover amount is $610 which applies the carryover ba
Slide 36: Flexible Spending Accounts - Eligibility
Flexible Spending Accounts - Eligibility WEX HEALTH - 3252, 3255, 3256 Postdoctoral Scholars Eligible Postdoctoral Scholar Title Codes for FSAs Check out the FAQs on Postdoctoral Scholar Employee (Title Code 3252) the PSBP site for more Postdoctoral Scholar Employee NEX (Title Code 3255) and inf
Slide 37: Life and AD&D Insurance
LIFE and AD&D INSURANCE
Slide 38: PSBP Life Insurance and Accidental Death & Dismemberment Plan
PSBP Life Insurance and Accidental Death & Dismemberment Plan THE STANDARD INSURANCE COMPANY • Pays $50,000 in the event of a death • Pays an additional $50,000 in the event of an Accidental Death • AD&D Seat Belt Benefit – Up to $10,000 is payable for death as a result of a car accident while weari
Slide 39: Short-Term Disability Insurance
SHORT-TERM DISABILITY INSURANCE
Slide 40: PSBP Short-Term Disability Plan
PSBP Short-Term Disability Plan THE STANDARD INSURANCE COMPANY • Plan will pay 70% of the first $1,429 weekly pre-disability earnings • Maximum weekly benefit is $1,000 per week • Minimum benefit is $25.00 • No benefit waiting period for disability caused by an accidental injury and 7 days for disab
Slide 41: Repatriation & Medical Evacuation
Repatriation & Medical Evacuation THE STANDARD INSURANCE COMPANY • All eligible Postdoctoral Scholars in title codes 3252, 3253, 3254, 3255, 3256 and their dependents are automatically covered for medical evacuation and repatriation benefits necessary to satisfy the J Visa Program • International Po
Slide 42: Voluntary Long-Term Disability Insurance
VOLUNTARY LONG-TERM DISABILITY INSURANCE
Slide 43: PSBP Voluntary Long-Term Disability Plan
PSBP Voluntary Long-Term Disability Plan THE STANDARD INSURANCE PLAN • Benefit is voluntary and is paid 100% by the Postdoctoral Scholar • Monthly premium is $10.93 • Benefit Waiting Period is 180 days of disability • Long-Term Disability starts when Short-Term Disability ends • Plan pays 60% of the
Slide 44: Bright Horizons Enhanced Family Support
BRIGHT HORIZONS ENHANCED FAMILY SUPPORT
Slide 45: Bright Horizons Enhanced Family Support
Bright Horizons Enhanced Family Support Primary Child Care Solutions • Jump ahead on Bright Horizons center waitlists • Access discounts on summer day camp at Steve & Kate’s Camp • Receive waived membership fees ($150 value) for Sittercity’s database of sitters • Get a discount on College Nannies, a
Slide 46: Retirement Plans Administered by Fidelity
RETIREMENT PLANS ADMINISTERED BY FIDELITY
Slide 47: Retirement Plans
Retirement Plans 3252, 3255, 3256 Postdoctoral Scholars • If you are paid through the UC payroll system you are automatically enrolled in the Safe Harbor DCP (Defined Contribution Plan). • You also have the options to save pre-tax dollars by enrolling in the 403(b) and/or 457(b) plans, and to make a
Slide 48: Defined Contribution (DC Plan)
Defined Contribution (DC Plan) 3252, 3255, 3256 Postdoctoral Scholars UC employees who are not otherwise covered by a retirement system contribute to the DC Plan in lieu of paying Social Security taxes • If you paid through UC payroll, you are automatically enrolled in the Safe Harbor DCP (Defined C
Slide 49: Voluntary Retirement Savings Plan
Voluntary Retirement Savings Plan 3252, 3255, 3256 Postdoctoral Scholars • 2023 IRS Annual Limits o $22,500 if less than age 50 o $30,000 if age 50 or older o Contribute up to maximum to one or both plans
Slide 50: Defined Contribution Plan (DC Plan)
Defined Contribution Plan (DC Plan) 3252, 3255, 3256 Postdoctoral Scholars Key Things to Remember 1. Enroll in the 403(b) and 457(b) at any time • Initial enrollment and changes are subject to payroll deadlines 2. Establish Your Beneficiaries: • Fidelity: Retirement Option and 403(b) and 457(b) and
Slide 51: Making Open Enrollment Changes
MAKING OPEN ENROLLMENT CHANGES
Slide 52: Open Enrollment Changes Through the UCPath Website
Open Enrollment Changes Through the UCPath Website WHAT CHANGES CAN BE MADE AT OPEN ENROLLMENT? • Change from a medical or dental HMO to the PPO plan (or vice versa) or add eligible family members • Enroll in or opt out of medical, dental, and vision plans, or cancel coverage for family members If y
Slide 53: Contact Us
Contact Us* For general inquiries and customer service regarding enrollment, general benefit questions and confirmation, you should contact: Gallagher Benefit Services’ PSBP website: https://c2mb.ajg.com/uc/home/ Toll Free: 1 (800) 254-1758 | Email: [email protected] *Questions reg
Slide 54: Thank You for Joining Us Today!
THANK YOU FOR JOINING US TODAY!
Arthur J. Gallagher & — Investor Presentation (October 2023) on 6ix