What's New for 2019?

Farm Credit Foundations
Benefits
Are Above Market

The results of the 2018 Benefit Index® reaffirm that your benefits package provides more value than the market average.


Learn More

Medical Plan Changes

Medical costs have continued to increase with medical trend rates between 6 to 8%. In order to ensure the Medical Plan continues to be cost effective for both employees and employers, the deductible and out-of-pocket maximums for both plans have been adjusted for 2019.


This approach will:

  • Align the Consumer Choice 2 deductibles with the IRS Health Savings Account limits. This results in an increase to the individual deductible by $50 and $100 for family

  • Keep premiums for employee only coverage the same from 2018 to 2019. Consumer Choice 1 employee only premium remains the same and Consumer Choice 2 employee only premium remains at no cost to the employee.




Consumer Choice 1

(employee only/family)

Consumer Choice 2

(employee only/family)

Deductible

In-network

Out-of-network


$1,550/$3,100

$1,550/$3,100


$3,500/$7,000

$3,500/$7,000

Coinsurance

In-network

Out-of-network



20%

40%


0%

40%

Out-of-Pocket Maximum

In-network

Out-of-network


$3,100/$6,200

$6,200/$12,400


$3,500/$7,000

$7,000/$14,000



Dental, Vision and Life Insurance

There are no changes to premiums or plan design in 2019 for Dental, Vision and Life Insurance.   

 

Long Term Disability and Business Travel Accident Insurance Plan

Farm Credit Foundations completes regular market checks to ensure benefits are competitive and are administered by best in class vendors. After an analysis of the current Long Term Disability (LTD) and Business Travel Accident (BTA) benefits, the Plan Sponsor Committee has approved a move to MetLife for both plans beginning January 2019. As a reminder, these protection benefits are automatically provided to you by your employer. You do not need to make an election to receive coverage. 


Good to Know:

  • Any claim for a disability that occurred prior to January 1, 2019 is covered under The Hartford. Disabling events occurring after January 1, 2019 will be covered by MetLife.
  • Any claim currently managed by The Hartford will remain with The Harford.

 

LifeWorks Employee Assistance Plan for All Employees

Beginning January 1, 2019, Lifeworks Employee Assistance Plan (EAP) will be available to all employees.

The same products and services provided by LifeWorks today will be available to all employees. Watch for more information in December 2018 about accessing the program via phone, on-line or mobile application. 



 


 

 More Information