HEALTH INSURANCE

In order for our health insurance reserve to keep up with skyrocketing health care costs, the Board has elected to increase premiums by 5% beginning January 1, 2006.

2006 Monthly Premiums

     New Employees & Wellness Program Non-Participants:

     Wellness Program Participants:

Co-Pay—Physician/Chiropractor Office Visit                               $ 15

           Services received by a NON First Administrators provider are subject to a fee schedule with employee responsible for all costs above fee schedule.   Employee may be required to submit claim to First Administrators and pay all costs at time of service.   Thus, check for reimbursement will be sent directly to employee instead of provider.

Pre-certification

Pre-certification is required on all hospital admissions.  Call within 24 hours of emergency admissions.  Outpatient care does not require pre-certification.

Prescriptions

Each employee is issued a health insurance ID card that is also a prescription discount card.  Every time a prescription is filled present card to the pharmacist to receive an up-front discount.  The claim will electronically be filed and processed according to the health plan.

FLEX PLAN

Flex Plan enrollment forms were previously mailed to all eligible employees for the plan year 2006. Employees who wish to participate in the Flex Plan during 2006, will need to complete the Flex Form, sign, date, and return it to the Brooklyn Office prior to January 1, 2006.   Absolutely, no late forms will be accepted.  This is an IRS regulation we are required to follow.  If you have questions regarding the completion of the Flex Form, contact Bev Vaverka in the Brooklyn Office at 641-522-9206.

LIFE INSURANCE

Manatts has elected to change life insurance carriers, which will enable our companies to save a few dollars on monthly premiums.  The big feature of this change is an open enrollment period during the month of January, 2006. This means underwriting will not be required for anyone wishing to purchase additional voluntary term life insurance.  Coverage will be extended with no questions asked up to a $30,000 limit on the employee, $30,000 limit on the employee’s spouse, and $10,000 limit on each of the employee’s dependent children.   EVERYONE will be required to complete a NEW beneficiary form, whether you have purchased voluntary life insurance or not.

Additional information will be sent at a later date.  If you have questions regarding additional voluntary life insurance, contact Frank Heinen in the Brooklyn Office at 641-522-9206. 

401K

2006 Maximum Limits:

Employee contributions  $15,000 Catch up contribution     $  5,000

If you have any questions, contact Frank Heinen in the Brooklyn Office at 641-522-9206.