Benefits are Changing
Your Luxottica Benefits are Changing 2014 Benefits Annual Enrollment Oct. 28 – Nov. 8, 2013
Your life — and your needs — change over time.Your benefits are changing as well. Learn more and enroll online at resources.hewitt.com/luxottica.
Annual Enrollment Your Chance. Your Choice. Take the time now to consider your benefit choices and your needs for next year — taking into account all the new benefit changes.
Benefit Costs: Staying Ahead of the Curve Everywhere you go prices are going up: gas, groceries — you name it. Health care costs are no different. We’re making changes to our benefits for 2014 to stay ahead of the curve when it comes to rising health care costs. These changes put you in the driver’s seat with more control over your health care dollars, while providing competitive and cost effective options for you and the company. You’ll find your costs for coverage, plus helpful online tools including the Health Plan Comparison chart and cost estimator, when you enroll at resources.hewitt.com/luxottica.
Covering a Spouse/Domestic Partner/Household Dependent?
NEW
If your spouse, domestic partner or household dependent has access to health coverage from their employer, but declines that coverage to enroll in Luxottica’s medical plan, you must elect a surcharge. The surcharge is $50 per biweekly pay period or $25 per weekly pay period. See the Annual Enrollment FAQ for more details.
Save the Date! 2014 Benefits Annual Enrollment Oct. 28 – Nov. 8, 2013 2
Medical Coverage The CHOICE is Yours!
NEW
Who doesn’t love choices? Good news, we heard you and are implementing two NEW medical plans — a Traditional PPO and a High Deductible PPO. You choose the medical plan that meets your needs and your budget!
How the Plans Work Both plans are Preferred Provider Organization (PPO) plans. You have access to both in and out of network coverage, but you’ll save money when you stay in network. See Make Good Choices on page 5 for more details.
Comparing the Plans BENEFIT
Traditional PPO
High Deductible PPO
Preventive Care (routine checkups, well-baby visits)
Covered 100% (in network)
Covered 100% (in network)
Out of Pocket Costs
Based on the service, you pay:
You pay:
• Copay • Deductible • Coinsurance
• 100% of non-preventive care costs until you reach your annual deductible • Then you pay coinsurance until you reach the out of pocket (OOP) maximum • Once you reach the OOP maximum, the plan pays 100%
Tax-Savings Opportunity
Enroll in a Health Care Flexible Spending Account (FSA)
Enroll in the new Health Savings Account (HSA) — see page 4
Note: If you are currently enrolled in medical insurance and do nothing, you will be enrolled in the Traditional PPO plan.
Can’t Decide Which Plan is Right for You? Take the guesswork out and use the online tools described on page 5. 3
Health Savings Account Hip-Hip-Hooray for the HSA!
NEW
Tax-free dollars are yours to SPEND or SAVE! When you enroll in the new High Deductible PPO, you may be eligible to participate in the Health Savings Account (HSA). With the HSA, you save PRE-TAX DOLLARS in a Chase bank account that you own. Use this money to pay for eligible health care expenses — such as your annual deductible — or to save for future expenses. Any unused funds roll over from year to year — even if you leave the company. In 2014, you can contribute up to $3,300 for individual coverage or up to $6,550 for family coverage (based on IRS limits). If you are age 55 or older, you may be eligible to contribute an additional $1,000.
Triple Tax Savings Three ways to save on taxes with the HSA! Here’s how: 1. Your money goes in tax-free. Your HSA contributions are deducted from your paycheck before taxes. 2. Your money grows tax-free. The money in your HSA earns tax-free interest. When your account reaches $1,000, you can invest those dollars. 3. Your money comes out tax-free. You don’t pay any taxes when you use your HSA dollars to pay for eligible health care expenses.
Did You Know? The HSA is different than the Health Care FSA. With an FSA, if you don’t spend it, you lose it at the end of the year. With an HSA, you can spend it now or save it for later (while earning interest). 4
Make Good Choices by… Learning About Your Benefits Access additional benefits information online to help make the best decisions for you and your family. You’ll find: • Benefits Summary • Frequently Asked Questions (FAQs) • Summary of Benefits and Coverage (SBC)
Info at Your Fingertips! Visit the benefits website at resources.hewitt.com/luxottica for all the tools and resources listed here.
• Summary Plan Description (SPD)
Using the Online Tools Use these online tools to help make your benefit choices: • Cost Advisor Tool – Review and Compare Medical Options and Costs • 2014 Benefit Webinar Overview • Health Plan Comparison Chart • Medical Expense Estimator • Difference Between HSA and Health Care FSA • Health Savings Account Estimator • Why Use Health Care Spending Account – Tax-Savings Estimator • Flexible Spending Account Estimators
5
Vision Coverage SEE Great SAVINGS
VED IMPRO
Your eyes aren’t deceiving you — you’ll see great savings in 2014! There’s no excuse not to get an annual eye exam because it’s FREE when you use the EyeMed network. And, if you need contact lenses, pay only a $40 copay for a contact lens basic fit and follow-up OR receive a 10% discount for a premium contact lens fit and follow-up.
Dental Coverage Something to Smile About
NO E CHANG
Your dental coverage remains the same for 2014.
Enrolling New Dependents? You will need to provide documentation! When you enroll, you will need to provide a Social Security number and date of birth for any NEW dependents. Following enrollment (about two weeks), you will be contacted by Aon Hewitt to provide documentation to verify eligibility for your covered dependents, which includes spouse, domestic partner and household dependent.
Get Going and Enroll! Oct. 28 – Nov. 8, 2013 6
Life and Disability Insurance Be Prepared for the Unexpected
E CHANG
Anything can happen when it comes to your health or well-being. We provide Basic Life Insurance and Short Term Disability Insurance for that very reason. Take note of the 2014 changes:
Basic Life Insurance All associates will receive coverage equal to one times your annual base pay.
Short Term Disability Insurance
Need More Coverage? No worries! Consider enrolling in Supplemental or Group Universal Life Insurance.
For new 2014 certified disability claims, the current plan that provides 100% of your pay for the first 90 days will now pay: • 100% of your pay up to day 42 • 60% of your pay for the remaining 138 days Note: These changes will not affect 2013 claims.
Voluntary Benefits Live Life Insured!
NEW
Need a little more peace of mind? Consider our new Identify Theft Protection Plan or Pet Insurance for 2014. But Wait! Don’t forget about our other voluntary benefits: critical illness, accident plan, legal services and auto/home insurance.
Be in the know… follow us on Twitter 7
7
@LuxToday
Last Call! If you don’t enroll by
Nov. 8, you won’t be able to make changes to your benefits unless you have a qualifying status change (i.e., you get married, adopt or give birth).
Annual Enrollment It’s Now or Next Year Don’t miss your chance to enroll in or make changes to your benefits for 2014! Benefits Annual Enrollment is Oct. 28 – Nov. 8, 2013.
Your Enrollment Checklist TAKE ACTION! Log on to the benefits website at resources.hewitt.com/luxottica to: 1. Review important information under “My Documents”. 2. Click “Enroll Now” in the upper left corner of the landing page to change your current benefit elections. 3. Certify tobacco user status for you and your covered adult dependent. If applicable, a Tobacco User Surcharge will be added to your medical premium. 4. Certify if your spouse/domestic partner/household dependent has employer sponsored medical coverage. If applicable, a Spousal Surcharge will be added to your medical premium. 5. Enroll in the HSA (only available if you enroll in the High Deductible PPO). 6. Enroll in the FSAs (the Health Care FSA is not available if you enroll in the High Deductible PPO). These elections do not carry over from 2013. 7. Review and submit your benefit elections by Nov. 8. Note: This is a brief summary and Master Plan Documents govern in all cases.
Questions? Call the Luxottica Human Resource Service Center at 866-431-8484. Spanish-speaking representatives and interpreting services for other languages are available. 8 8
Full-Time HOOO131668
Your life — and your needs — change over time.Your benefits are changing as well. Learn more and enroll online at resources.hewitt.com/luxottica.
Annual Enrollment Your Chance. Your Choice. Take the time now to consider your benefit choices and your needs for next year — taking into account all the new benefit changes.
Benefit Costs: Staying Ahead of the Curve Everywhere you go prices are going up: gas, groceries — you name it. Health care costs are no different. We’re making changes to our benefits for 2014 to stay ahead of the curve when it comes to rising health care costs. These changes put you in the driver’s seat with more control over your health care dollars, while providing competitive and cost effective options for you and the company. You’ll find your costs for coverage, plus helpful online tools including the Health Plan Comparison chart and cost estimator, when you enroll at resources.hewitt.com/luxottica.
Covering a Spouse/Domestic Partner/Household Dependent?
NEW
If your spouse, domestic partner or household dependent has access to health coverage from their employer, but declines that coverage to enroll in Luxottica’s medical plan, you must elect a surcharge. The surcharge is $50 per biweekly pay period or $25 per weekly pay period. See the Annual Enrollment FAQ for more details.
Save the Date! 2014 Benefits Annual Enrollment Oct. 28 – Nov. 8, 2013 2
Medical Coverage The CHOICE is Yours!
NEW
Who doesn’t love choices? Good news, we heard you and are implementing two NEW medical plans — a Traditional PPO and a High Deductible PPO. You choose the medical plan that meets your needs and your budget!
How the Plans Work Both plans are Preferred Provider Organization (PPO) plans. You have access to both in and out of network coverage, but you’ll save money when you stay in network. See Make Good Choices on page 5 for more details.
Comparing the Plans BENEFIT
Traditional PPO
High Deductible PPO
Preventive Care (routine checkups, well-baby visits)
Covered 100% (in network)
Covered 100% (in network)
Out of Pocket Costs
Based on the service, you pay:
You pay:
• Copay • Deductible • Coinsurance
• 100% of non-preventive care costs until you reach your annual deductible • Then you pay coinsurance until you reach the out of pocket (OOP) maximum • Once you reach the OOP maximum, the plan pays 100%
Tax-Savings Opportunity
Enroll in a Health Care Flexible Spending Account (FSA)
Enroll in the new Health Savings Account (HSA) — see page 4
Note: If you are currently enrolled in medical insurance and do nothing, you will be enrolled in the Traditional PPO plan.
Can’t Decide Which Plan is Right for You? Take the guesswork out and use the online tools described on page 5. 3
Health Savings Account Hip-Hip-Hooray for the HSA!
NEW
Tax-free dollars are yours to SPEND or SAVE! When you enroll in the new High Deductible PPO, you may be eligible to participate in the Health Savings Account (HSA). With the HSA, you save PRE-TAX DOLLARS in a Chase bank account that you own. Use this money to pay for eligible health care expenses — such as your annual deductible — or to save for future expenses. Any unused funds roll over from year to year — even if you leave the company. In 2014, you can contribute up to $3,300 for individual coverage or up to $6,550 for family coverage (based on IRS limits). If you are age 55 or older, you may be eligible to contribute an additional $1,000.
Triple Tax Savings Three ways to save on taxes with the HSA! Here’s how: 1. Your money goes in tax-free. Your HSA contributions are deducted from your paycheck before taxes. 2. Your money grows tax-free. The money in your HSA earns tax-free interest. When your account reaches $1,000, you can invest those dollars. 3. Your money comes out tax-free. You don’t pay any taxes when you use your HSA dollars to pay for eligible health care expenses.
Did You Know? The HSA is different than the Health Care FSA. With an FSA, if you don’t spend it, you lose it at the end of the year. With an HSA, you can spend it now or save it for later (while earning interest). 4
Make Good Choices by… Learning About Your Benefits Access additional benefits information online to help make the best decisions for you and your family. You’ll find: • Benefits Summary • Frequently Asked Questions (FAQs) • Summary of Benefits and Coverage (SBC)
Info at Your Fingertips! Visit the benefits website at resources.hewitt.com/luxottica for all the tools and resources listed here.
• Summary Plan Description (SPD)
Using the Online Tools Use these online tools to help make your benefit choices: • Cost Advisor Tool – Review and Compare Medical Options and Costs • 2014 Benefit Webinar Overview • Health Plan Comparison Chart • Medical Expense Estimator • Difference Between HSA and Health Care FSA • Health Savings Account Estimator • Why Use Health Care Spending Account – Tax-Savings Estimator • Flexible Spending Account Estimators
5
Vision Coverage SEE Great SAVINGS
VED IMPRO
Your eyes aren’t deceiving you — you’ll see great savings in 2014! There’s no excuse not to get an annual eye exam because it’s FREE when you use the EyeMed network. And, if you need contact lenses, pay only a $40 copay for a contact lens basic fit and follow-up OR receive a 10% discount for a premium contact lens fit and follow-up.
Dental Coverage Something to Smile About
NO E CHANG
Your dental coverage remains the same for 2014.
Enrolling New Dependents? You will need to provide documentation! When you enroll, you will need to provide a Social Security number and date of birth for any NEW dependents. Following enrollment (about two weeks), you will be contacted by Aon Hewitt to provide documentation to verify eligibility for your covered dependents, which includes spouse, domestic partner and household dependent.
Get Going and Enroll! Oct. 28 – Nov. 8, 2013 6
Life and Disability Insurance Be Prepared for the Unexpected
E CHANG
Anything can happen when it comes to your health or well-being. We provide Basic Life Insurance and Short Term Disability Insurance for that very reason. Take note of the 2014 changes:
Basic Life Insurance All associates will receive coverage equal to one times your annual base pay.
Short Term Disability Insurance
Need More Coverage? No worries! Consider enrolling in Supplemental or Group Universal Life Insurance.
For new 2014 certified disability claims, the current plan that provides 100% of your pay for the first 90 days will now pay: • 100% of your pay up to day 42 • 60% of your pay for the remaining 138 days Note: These changes will not affect 2013 claims.
Voluntary Benefits Live Life Insured!
NEW
Need a little more peace of mind? Consider our new Identify Theft Protection Plan or Pet Insurance for 2014. But Wait! Don’t forget about our other voluntary benefits: critical illness, accident plan, legal services and auto/home insurance.
Be in the know… follow us on Twitter 7
7
@LuxToday
Last Call! If you don’t enroll by
Nov. 8, you won’t be able to make changes to your benefits unless you have a qualifying status change (i.e., you get married, adopt or give birth).
Annual Enrollment It’s Now or Next Year Don’t miss your chance to enroll in or make changes to your benefits for 2014! Benefits Annual Enrollment is Oct. 28 – Nov. 8, 2013.
Your Enrollment Checklist TAKE ACTION! Log on to the benefits website at resources.hewitt.com/luxottica to: 1. Review important information under “My Documents”. 2. Click “Enroll Now” in the upper left corner of the landing page to change your current benefit elections. 3. Certify tobacco user status for you and your covered adult dependent. If applicable, a Tobacco User Surcharge will be added to your medical premium. 4. Certify if your spouse/domestic partner/household dependent has employer sponsored medical coverage. If applicable, a Spousal Surcharge will be added to your medical premium. 5. Enroll in the HSA (only available if you enroll in the High Deductible PPO). 6. Enroll in the FSAs (the Health Care FSA is not available if you enroll in the High Deductible PPO). These elections do not carry over from 2013. 7. Review and submit your benefit elections by Nov. 8. Note: This is a brief summary and Master Plan Documents govern in all cases.
Questions? Call the Luxottica Human Resource Service Center at 866-431-8484. Spanish-speaking representatives and interpreting services for other languages are available. 8 8
Full-Time HOOO131668
