What’s New for 2019/2020

Open Enrollment is April 29 – May 17, 2019

At MIHS, we value the contribution you make to the work we do. While you make a difference at our company, we want to make a difference in your life. That is why we are proud to offer a comprehensive benefits package that supports your health and financial well-being.

Remember, Open Enrollment is your once-a-year chance to review and choose the MIHS benefits that fit your lifestyle and budget!

What’s New

While we aren’t making significant changes for 2019/2020, we have made some enhancements to improve your benefits experience:

 

Medical Plans

Our pharmacy benefit program will be updated to include certain exclusions for high cost generic medications. High cost generics will not be covered when a lower cost generic equivalent is available.

Health Savings Accounts (HSA)

 

If you enroll in the MIHS HSA eligible CDHP, you will need to re-enroll in the Health Savings Account as IRS rules require an active enrollment in the savings account annually. For single coverage, the maximum 2019 deferral is $3,500; if you are covering any dependents the maximum you can defer to your HSA is $7,000.

 

Payroll contributions

Due to the increasing costs of our medical and dental programs, your per pay period cost may be increasing depending upon the medical or dental plan you elect and which family members you are covering.  MIHS has been fortunate and we have only passed along medical premium increases in 2 of the past 5 years.

AFLAC Voluntary Plans

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Flexible Spending Account (FSA)

If you enroll in the POS or Preferred plans, you can also participate in the FSA. This account lets you set aside pre-tax dollars to use for eligible medical, dental and vision expenses. Participating in the FSA, maximizes your pre-tax savings and if the funds are used to pay for qualified expenses, you will not pay tax on this income. For 2019/2020 the healthcare FSA deferral limit will increase to $2,700.