Winter 2021 Spotlight on Benefits Newsletter Now Available

The Winter 2021 Spotlight on Benefits newsletter is now available.

Board of Trustees Continues Its Efforts to Ensure Basic Plan’s Financial Strength by Adjusting the Target Rate of Return for Basic Plan Investments from 7.15% to 6.9%, Effective January 1, 2022. 

COVID-19 Update: Vaccine/Booster Eligibility and the New Omicron Variant. New CDC guidance on who is eligible and recommended to receive the COVID-19 vaccines and boosters and what we know so far about the Omicron Variant.

New Anthem Blue Cross Health Plan ID Cards Coming Soon. All covered Health Plan participants will receive new Health Plan ID cards in late December. The new cards, which will include additional coverage information as required by the No Surprises Act, will be valid starting January 1, 2022. 

Carry-Over Threshold and Maximum Carry-Over Bank Amount Increasing. The carry-over earnings threshold increases to $150,000 effective with benefit periods beginning on or after January 1, 2022. In addition, the maximum carry-over bank amount was increased to $510,000, effective with benefit periods beginning on or after October 1, 2021.

Track Your Future Health Eligibility Status. You can now view your future Health Plan coverage eligibility status and dual coverage status if you are covered under the Health Plan by more than one person. This new information appears in the myPHP’s Health Eligibility tab. 

INSERTS 

The 2020 Summary Annual Report provides important information on the financial status of the Supplemental Pension Plan and the Health Plan through December 31, 2020.