OPEN ENROLLMENT CHANGES EFFECTIVE 8/1/17
VALUE PLUS FORMULARY
The copayment for 26 drugs will increase unless the doctor prescribes an alternative medication. If you or your enrolled dependents are currently prescribed one of these drugs, Aetna will notify you directly by U.S. Mail after the first fill of the new plan year. Please review the formulary below for drug status and details.
List of impacted drugs
Pharmacy tiers (for HMO & POS)
Value Plus Exclusion Drug List
Value Plus Formulary - HMO & basic PPO
Value Plus Formulary - POS
Company-paid life insurance will increase to $100,000. This will result in "imputed income" because it is a tax-free benefit only up to $50,000. It is subject to Social Security and Medicare taxes and will be reported annually on your IRS Form W-2. For employees between the ages of 30-39 years, it is estimated that the increase to your taxable income will be $48-$54/year. You can opt out of the increase by a signing a waiver form.
VISION SERVICE PLAN (VSP)
Frame allowance will increase to $175 & for contacts to $150
To learn about the major provisions of the TW Ventures Inc. Group Benefits Plan, click on Summary Plan Description. A paper version will be provided to you upon request.
Please note that you must be in current employment status on the date your enrollment would be effective.