One of our most important organizational objectives is offering excellent and affordable health insurance coverage options to our employees. The past few years have been particularly challenging with regard to our health care expenses, and we expect these challenges to continue for the foreseeable future. Ever-increasing medical and prescription costs don’t just result in higher monthly premiums for our employees; they also limit the funds available to us as an employer, which impacts our flexibility when determining compensation increases.
As a part of our ongoing efforts to contain costs, this June we will begin a dependent eligibility review that will be conducted by an independent cost containment firm, Part D Advisors. The purpose of this review is to ensure that all dependents enrolled on our plan meet eligibility guidelines for coverage. All employees, retirees, and COBRA participants who currently have a dependent (spouse and/or children) enrolled on our medical plan will be required to participate. We are confident this process will ensure that we are covering eligible dependents in a fair and equitable manner.
In the coming weeks, we’ll tell you more about this dependent eligibility review, which will include a mailing to your home and email reminders to complete required verification tasks. If you currently have dependents on our medical plan, please be sure to review these communications when they arrive so that you can be prepared for this process.
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