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Open Enrollment Is November 4–18
for life your way.CHOOSE
for life your way.BENEFITS
Get Ready!It’s almost time to choose your benefits for 2020. We’ve made some enhancements to offer you more choice and flexibility than ever. You’ll find a new medical plan with free money from ITW for health care expenses, free preventive generic medications and new features for our 401(k).
Dive in now to see how these changes can work together to help you stay healthy and save money — for now and your future. Then enroll by November 18. We’ll make it easy. Inside, we’ll walk you through what to know, where to go and what to do to choose benefits for life your way.
Don’t Forget the 401(k)! Keep the 401(k) changes in mind as you choose your other benefits. For example, if you’re considering the HealthSaver Plan with an HSA, think about how the HSA and ITW 401(k) Retirement Plan can work together to turbo-charge your savings. Consider how much to save in each and start taking advantage of the tax benefits you could get as a result.
To review the 401(k) changes, visit the Learn About My Benefits section of ITWemployee.com.
What to Know
CHANGES FOR 2020Take note of these changes for 2020. Each one takes effect on January 1.
New HealthSaver Plan We’re adding a third medical plan. The HealthSaver Plan comes with low premiums, high deductibles, a Health Savings Account (HSA) and free money from ITW ($500 for employee-only coverage and $1,000 if you cover one or more family members). That makes this a good year to take a fresh look at all three medical options to see which is best for you and your family.
Prescription Drug SavingsAll three medical plans will cover preventive generic medications at no cost to you.
Modest Medical Cost IncreasePayroll deductions for the PPO plans will increase slightly. ITW will still pay most of the cost and offer lower Living Well at ITW rates to help you save.
Higher Health Care FSA MaxThe maximum annual contribution for the Health Care Flexible Spending Account (FSA) will increase to $2,700.
Where to Go
RESOURCES FOR YOUTake advantage of these tools and resources available now to choose the benefits that help you live life your way.
ITWemployee.comEverything you need to learn about your benefits is available 24/7 at ITWemployee.com. You and your family can visit the Learn About My Benefits section (no login or password required) to:
• Watch a video comparing your medical plan options.
• Explore the Health page to learn about your medical, dental and vision plan choices, as well as your health account options.
• Review the Income Protection page to learn about your Optional Life and AD&D Insurance choices.
• Read the Savings page to review the 401(k) changes.
• Refer to the Resources page for Summaries of Benefits and Coverage (SBCs) and important legal notices.
Decision Tools Use these tools to discover which medical plan offers you the best value. • My Benefits Mentor. We’ve partnered with IBM to provide you with a
medical plan recommendation for 2020. Watch your home mail for your personalized confidential letter that estimates your total costs for each plan. You’ll also have an easy-to-use online tool where you can adjust the types and amounts of health care services you may expect to have in 2020, and model what the costs would be under the three medical plan options.
• Benefits Value Advisor. Contact a Benefits Value Advisor at Blue Cross Blue Shield to understand your plan benefits, get estimates on costs for services and find in-network providers.
• CVS Caremark CoPay Calculator. Check out the cost of your medications and find out if generic alternatives are available.
What to Do
ENROLL NOVEMBER 4–18Take action if you want to change your benefits, contribute to an HSA, enroll in a Health Care or Dependent Care FSA, or change your dependents for 2020.
How to Enroll 1. Log on to ITWemployee.com. Use your seven-digit Employee ID
(found on your paycheck stub) and password.
2. Click the Health & Life Elections link on the homepage.
3. Follow the steps to review and enroll in 2020 benefits.
Need help? Call 1.866.416.4931 to enroll Monday through Friday, 7 a.m. to 7 p.m. Central time.
Keep in mind: After Open Enrollment, you can only change your benefits within 31 days of a qualifying life event, such as marriage, birth/adoption, death, loss of other coverage, legal separation, divorce or change in employment status. If you miss the 31-day deadline, you’ll have to wait until the next qualifying life event or Open Enrollment period.
First-Time User?Select First Time User — Need to Register and follow the prompts to register. You’ll need your Employee ID, the first five digits of your Social Security number, your birth month and birth day, and your home ZIP Code.
If You Don’t Enroll Your 2019 benefit selections will continue — except any Flexible Spending Accounts. If you want to participate in an FSA, you need to enroll.
Find Legal Notices Online The following important legal notices can be found at ITWemployee.com > Learn About My Benefits > Resources.
• HIPAA Special Enrollment Rights explains your rights to enroll later if you are declining medical coverage because you have other coverage.
• Women’s Health and Cancer Rights Act summarizes the benefits available under your medical plan if you had or are going to have a mastectomy.
• Notice of Privacy Practices explains how your health care plans protect your personal medical information.
• Medicare Prescription Drug Notice explains the prescription drug alternatives when a participant becomes eligible for Medicare.
• COBRA Rights Notice explains when you and your family may be able to temporarily continue coverage under the ITW health plans if coverage would otherwise end for you.
• CHIP Notice explains how employees who need help paying their health insurance premiums may get that help through state Medicaid or CHIP programs.
