Highlights for 2024

The premium rates charged by the Co-op Health & Welfare Plan & Trust will increase an average of 3.4% for 2024.  In addition, the annual deductibles and Out-of-Pocket Limits for the PPO and HSA Plans will increase for the first time in four years. See the FAQ document for a more detailed discussion about plan costs.

The monthly premiums charged for coverage beginning January 1, 2024 (prior to employer cost share) will be: Individual = $630/month and Family = $1,575/month, an increase of $20 for Individual and $50 for Family Coverage.  

The per person annual deductible will increase $50 to $1,250 for the 2024 plan year.  The Out-of-Pocket Maximum will increase to $4,000 from $3,750 for Individual coverage and $8,000 from $7,500 for Family coverage.  This Plan has a sub-deductible for prescription drugs which will remain unchanged for 2024 at $250 per person, $500 per family, and the Out-of-Pocket Maximum for prescription drugs will remain $2,500.

The monthly premiums charged for coverage beginning January 1, 2024 (prior to employer cost share) will be:  Individual = $600/month and Family = $1,500/month, an increase of $20 for Individual and $50 for Family Coverage.  Included in the premium for all eligible HSA Plan participants is a monthly contribution to the participants individual Health Savings Account (HSA).  The “employer” contribution to the HSA will be $100/month ($1,200 annually) for family coverage and $50/month ($600 annually) for individual coverage.

The annual deductibles will increase from $1,750 for Individual Coverage $1,800, and the Family deductible will increase from $3,500 to $3,600.  The Out-of-Pocket Maximum will increase to $4,000 from $3,750 for Individual coverage and $8,000 from $7,500 for Family coverage.

The monthly premiums charged for coverage beginning January 1, 2024 (prior to employer cost share) will increase from $305 to $325/month for individual coverage.  The annual deductible is $4,000 with an Out of Pocket Maximum of $6,500.   This plan is offered in compliance with the ACA requirements for employers to offer at least one plan that provides “minimum essential coverage” and is “affordable” as defined by the ACA.  The MVP is only available to individuals.  Family coverage is not available on the MVP.  For coverage information, see the separate Summary of Benefits and Coverage (SBC).

For 2024, participants in both the PPO and the HSA Plans can use the Teladoc 24/7 online or telephonic doctor with zero deductible and zero co-pay.  If you have not already done so, you are strongly encouraged to pre-register via the Teladoc App or through the bcbst.com site under “Get Care”.  By preregistering, treatment from live doctor will be always be just a few clicks away!

Dental coverage provided by BlueCross BlueShield will remain unchanged for 2024.  Vision coverage will also remain unchanged for 2024.  See separate rate and coverage summaries.

The IRS approved HSA maximum annual contribution limits for 2024 will be $4,150 Individual and $8,300 Family.  Anyone who will be 55 in 2024 can contribute an additional $1,000 catch-up contribution to their HSA account.  See the FAQ document for a more detailed discussion about HSA limitations and qualifications.

This year, you will have the option to make open enrollment elections and changes through an on-line portal.  Simply go to https://ourcoop-benefits.com/ and follow the link to the benmanage site.  All elections made on the site will be transmitted to TFC Employee Benefits.

Application forms and information about Open Enrollment are available on the “TFC Insight” intranet site.  Participants with access and member bookkeepers can review or print any information the participant may need.  If you do not utilize the on-line enrollment option, changes in enrollment for any BCBST coverage (Health, Dental, Vision) will require an original (pink) BCBST enrollment form, available from Employee Benefits or your bookkeeper.

The IRS requires a period of open enrollment when benefit plan premiums are paid with pre-taxed dollars.  Open Enrollment dates are from October 15 through November 22, 2023.   If you wish to enroll, change coverage, change plans, or drop current coverage you may do so during open enrollment by completing a new application and writing the words “Open Enrollment” in the upper right hand corner of the application or by completing an “Open Enrollment Coverage Termination Form”.  Your change request needs to be dated between the open enrollment dates listed above and all required documents returned to the Employee Benefits Department no later than November 22, 2023.  All open enrollment changes will be effective January 1, 2024.   

If you do not wish to change coverage for 2024, you do not have to take any action.  All of your coverage elections from 2023 will automatically roll over to 2024.
www.bcbst.com This is an essential site for all plan participants.  Register/Log in to your BlueAccess Member Portal to access all of the available tools from BCBS.  We highly recommend everyone to sign up and use this service for Provider directories, Benefits, Coverage, Claims and Wellness information. This is also the place to go to register for the Teladoc telemedicine benefit.