Open Enrollment 2016 is now closed.
Highlights for the Coming Year
Medical Plan Premiums: While rising medical costs have continued to be a concern in Massachusetts and nationwide, MIT’s cost increases over the past two years have been modest. As a result, we will be able to keep 2016 employee premiums for the Traditional and Choice medical plans at their 2015 levels.
Medical Plan Copayments: Copayments for a medical visit will remain the same: $10 if you have a primary care provider (PCP) at MIT Medical and $20 if you have a PCP within the Blue Cross Blue Shield network. Copayments for prescription drugs will also remain the same for the majority of medications. A small number of brand name medications will have higher copayments as they move from the “preferred brand” category (Tier 2) to the “non-preferred brand” category (Tier 3). In addition, the list of drugs covered by MIT’s medical plans ─ called the formulary (available below) ─ will be modified slightly in 2016 to exclude selected high-cost drugs if there are equally effective and less costly options available.
Dental Plans: In response to community feedback, there will be enhancements to the dental plans in 2016. Specifically, the Basic and Comprehensive dental plans (available below) will now cover sealants through age 19 and white fillings for all teeth. In addition, for participants in the Comprehensive Plan, coverage of implants will expand. Premium increases for 2016 will be small: $1 or less per month for the Basic Plan and $2 to $5 per month for the Comprehensive Plan.
Vision Plan: There will be no increases in employee premiums in 2016, but there will be an improvement in the plan’s coverage (available below). Starting next year, eye frames will be covered up to $150, both in-network and out-of-network.
Supplemental Life Insurance: There will be no increases in employee premiums in 2016, but you will have expanded options. Maximum supplemental life insurance will increase from 5 to 7 times your base annual earnings, up to $2 million. In addition, if you already have supplemental life insurance coverage, you will be able to increase it one level without filling out a statement of health, but only during this Open Enrollment.
Flexible Spending Accounts (FSAs): The maximum annual Health Care FSA contribution will increase from $2,500 to $2,550, which is now the maximum permitted by law. The maximum annual Dependent Care FSA contribution will remain the same at $5,000. Also, please note that WageWorks, a leading administrator of FSAs, has acquired Crosby Benefit Systems, MIT’s FSA administrator for several years. Effective January 1, 2016, WageWorks will administer MIT’s FSAs, and a new and improved web site will be available for managing your FSA. Faculty and staff who re-enroll in the Health Care FSA during Open Enrollment, as well as those of you with a carryover balance, will receive new healthcare debit cards (available below).
Affordable Care Act: Need information about the Affordable Care Act individual mandate?