Open Enrollment for 2021-2022
This information is for benefits-eligible FCI employees who choose to enroll in, terminate, or change a health insurance, dental insurance plan, or flexible spending account (FSA) during the open enrollment period, which is November 5-15, 2021.
There are separate processes for health insurance, dental insurance, and FSA enrollment. The Health Reimbursement Arrangement (HRA) does not require enrollment.
We offer two health insurance options: an HMO and a PPO through Harvard Pilgrim Health Care. Both plans include prescription drug coverage, annual fitness reimbursement, and discounts on vision, hearing, and other wellness services and supplies.
Health benefits are available at four tiers:
- Individual employee.
- Employee plus spouse/domestic partner.
- Employee plus dependent child(ren).
- Family, which includes two adults (spouses or domestic partners) and dependent child(ren).
Health insurance benefits are provided by Harvard Pilgrim Health Care.
HMO and PPO Plan Enrollment Information
HMO Flex Plan
With this HMO (health management organization) plan, you are required to get your care from a primary care provider (PCP) who is in Harvard Pilgrim's network. You will need your PCP’s referral for most kinds of specialty care.
PPO Flex Plan
With this PPO (preferred provider organization) plan, you may receive care from medical professionals and hospitals in or out of Harvard Pilgrim’s network. Your costs will be lower when you receive care from in-network providers.
We offer dental benefits for you, as an individual employee, and for your dependent family members. The Delta Dental PPO plan benefits include diagnostic and preventive services, as well as restorative and other basic services.
Dental insurance benefits are provided by Delta Dental.
Emeriti Retirement Healthcare Savings Plan
To help you prepare and pay for your medical expenses in retirement, we have established a Retirement Healthcare Savings Plan (RHSP). We set money aside to help you pay your healthcare costs in retirement, such as health insurance premiums, deductibles and copays; prescription drug costs; Medicare and long-term care premiums.
We contribute to this plan on your behalf, beginning with your first paycheck; FCI's contributions are available to you after 10 years of continuous employment at FCI. The retiree health insurance plan is available if you have reached age 55 and have been continuously employed at FCI for at least 10 years, or if you are deemed permanently disabled during your employment.
If you meet the retiree health insurance plan eligibility requirements when you separate from employment and qualify for Medicare, you and your eligible dependents may be eligible for benefits. Your spouse/domestic partner and dependents may be eligible for continued benefits after your death.
The Retirement Healthcare Savings Plan is administered by Emeriti Retirement Health and TIAA.
403(b) Retirement Plan
To encourage saving for retirement, we offer a 403(b) retirement plan for regular full-time and regular part-time employees. In support of this goal, you will be automatically enrolled upon hire (you may choose to decline).
After one year of employment, we will match your biweekly contributions 2:1, up to a maximum match of 10%. That is, if you contribute 5% of your biweekly pay, we will contribute 10%. You may change the amount (or percentage) you contribute and you may choose to contribute more than 5%; however, FCI will not provide matching funds on any additional contributions beyond 5%.
FCI investments are administered by TIAA and monitored by a certified advisor and by the FCI Employee 403(b) Fiduciary Committee.
Life and AD&D Insurance
At no cost to you, FCI offers Basic Term Life and Accidental Death & Dismemberment (AD&D) Insurance equal to your annual salary. This benefit is for employees who sustain injuries that keep them from working; the benefit can also apply to funeral expenses.
At your cost, you have the option to increase your life insurance coverage (“buy up”) to 2 or 3 times your salary; you may also purchase life insurance for a dependent spouse or dependent child.
Life and AD&D Insurance benefits are administered by Lincoln Financial OR Liberty Mutual??
Flexible Spending Account
The Flexible Spending Account (FSA) is available to you even if you are not enrolled in one of FCI's health plans. With a Flexible Spending Account (FSA), you can set aside pre-tax dollars for eligible health-related expenses or for eligible dependent care expenses. Each year you decide how much will be deducted from your paycheck, up to the maximum determined by the IRS. With the tax savings, you can increase your spendable income.
The health FSA covers eligible health-related expenses for you and your dependents, which may include health plan co-pays, deductibles, dental care, and certain medical supplies.
The dependent care FSA allows you to be reimbursed for eligible dependent care expenses for a qualifying dependent 12 years old or younger (or a physically or mentally impaired dependent age 13 or older) so that you or your spouse may work, look for work, or attend school full time.
The FSA is administered by American Benefits Group.
Health Reimbursement Arrangement
To assist the employees and family members covered by one of FCI's health plans, we offer a Health Reimbursement Arrangement (HRA). It is designed to help offset what you pay out-of-pocket toward your health plan's annual deductible.
The HRA cover the first 50% of deductible costs for those with individual plans and the first 50% of deductible costs for those with two-party and family plans.
The HRA is similar to the Flexible Savings Account (FSA). However, the HRA uses employer-funded dollars while the FSA uses employee-funded dollars.
To maximize your benefits, you can use the Health Reimbursement Arrangement for the first half of your deductible and then apply Flexible Saving Account funds to the rest of the deductible and for medical costs not included in the deductible.
The HRA is administered by American Benefits Group.