Benefits Open Enrollment

Mission Statement:  Making life better - a great place to work and shop

At Ricker’s, we are committed to being “A Great Place to Work.” Our commitment includes offering health care benefits for you and your family.  Benefits Open Enrollment runs through December 10, 2014 and is a  once a year opportunity to evaluate your health care needs and decide which plans best meet the needs of you and your family.  

Important reminder:  The hourly indemnity plan, PanaMed, will terminate as of December 31, 2014.

If you desire medical insurance and indemnity package, you must enroll in the new KeySolutions insurance.  If you previously declined the health indemnity plan and/or voluntary benefits and would like to enroll, you may do so during this period.  

There is still time to enroll!  The remaining mandatory (for hourly store personnel) meeting schedule is:

Thursday, 12/4 3:00:  Holiday Inn Express, 6296 Cambridge Way, Plainfield
Friday, 12/5 at 10:00 or 3:00:  Noblesville Branch Hamilton East Public Library
Monday, 12/8 at 10:00 or 3:00:  Holiday Inn, IPFW 4111 Paul Shaffer Drive
Tuesday, 12/9 at 10;00 or 3:00:  Fishers Branch Hamilton East Public Library


Health Care Reform

Ricker’s will comply with all Affordable Care Act (ACA) requirements.  This year, there are minimal Health Care Reform regulations for employers; however, you as an individual, need to comply with  the individual mandate, which requires you to have health care coverage or pay a penalty.

Individual Requirements

If you are a full-time team member electing the medical plan during Open Enrollment, there is nothing you need to do and you will satisfy the individual mandate. You will not be subject to any penalties by remaining enrolled in our plan.

If you do not currently have coverage, you may want to consider enrolling for benefits through Ricker’s  during Open Enrollment.  If you do not elect Ricker’s coverage, you can enroll for coverage through your spouse’s plan or the Federal exchange.  If you do not have coverage, you will be subject to the ACA penalty. The penalty is based on a percentage of your household income, as shown below:

	2014	2015	2016	After 2016
Income Based Penalty	1% of household income	2% of household income	2.5% of household income	2.5% of household income
Minimum Penalty Amount	$95	$325	$695	$695 + inflation adjustment

Note: It’s important to remember that if you do not have medical coverage, you will pay the penalty AND be responsible for 100% of the cost of medical care.  

Employer Requirements

Under the ACA, employers must offer full-time employees a medical plan option that meets requirements of a comprehensive and affordable medical care plan as defined by the ACA. An “affordable” plan means that a company must cover 60% of the total cost of health care benefits. The Ricker’s medical plan meets these requirements. Because the Ricker’s medical plan meet the ACA standards of affordability, you will not be eligible for a subsidy if you choose to receive coverage in a public marketplace.

Thank you for your attention to this important information.  As always, our team is available to answer any questions you may have regarding these changes.