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Schlumberger 2015 Annual Enrollment
November 3 to 21, 2014
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What we’ll talk about today
What’s new for 2015 What you need to know Plan refresher What you need to think about What you need to do
2015 Annual Enrollment – November 3 to 21
WHAT’S NEW FOR 2015It’s all good news!
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What’s new for 2015
Additions to the Wellness Account Fitness league fees Fitness classes Comprehensive medical exams Naturopathic medicines
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Remember: You can also claim your LTD premiums from your Wellness Account.
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What’s new for 2015 (continued)
Wellness Accounts Now the new default for any excess flex dollars you may
have When you enroll, be sure to allocate your excess flex
dollars to either your: Health Care Spending Account; or Wellness Account
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Don’t forfeit! You have two years to use the money in these accounts. Last year almost 1000 employees forfeited $300 each.
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What’s new for 2015 (continued)
Smoking cessation Removal of $500 cap on
smoking cessation drugs
And don’t forget … Non-medical smoking
cessation programs – your Health coverage and HCSA
Life insurance can be up to double the price for smokers
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What’s new for 2015 (continued)
Price tag changes Medical price tags are going up 5% Dental price tags are going up 6% Long-term disability price tags are going up by 16%, and
that’s for all options Basic life insurance is up 14% — paid by Schlumberger Accident insurance is unchanged
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Remember: Schlumberger is increasing your flex dollars by the same amount
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What’s new for 2015 (continued)
Why do price tags change? Our price tags change for a number of reasons:
How we use the plan Aging population Inflation
Health care – inflation between 5% and 8% in Canada Dental care – inflation between 3% and 5% in Canada LTD:
The number of claims How big the claims are How long they last
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WHAT YOU NEED TO KNOW
Ways to save money and other cool facts!
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What you need to know
Ways you can save moneyPurchase your prescriptions at Costco Schlumberger employees saved almost $17,000 in
dispensing fees by buying their prescriptions at Costco You don’t pay a dispensing fee at Costco – you do
everywhere else … and that’s money out of your pocket You don’t have to be a Costco member to take advantage
of the Schlumberger discount
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What you need to know (continued)
Ways you can save moneyCoordinate your benefitsThose who coordinate their benefits save up to $1,700 a year
How? Compare your spouse’s coverage to the Schlumberger plan If it makes sense to coordinate your benefits, you’ll need to
be enrolled in both plans Consider a lower Schlumberger
medical and/or dental option Save money
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Why don’t more people coordinate their benefits?Because submitting claims is a little more complicated.
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What you need to know (continued)
Ways you can spend wisely and save moneyCoordinate your benefits
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1 You submit the claim to one plan
then
2 You submit it to the other plan
What you need to know (continued)
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If it’s your claim …
1Submit the claim to GWL, the Schlumberger plan
then
2Submit a copy of the receipt and the GWL claim statement to your spouse’s plan
Ways you can spend wisely and save moneyCoordinate your benefits
What you need to know (continued)
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If it’s your claim … If it’s your spouse’s claim …
1Submit the claim to GWL, the Schlumberger plan
Submit the claim to your spouse’s plan
then then
2Submit a copy of the receipt and the GWL claim statement to your spouse’s plan
Submit a copy of the receipt and your spouse’s claim statement to GWL, the Schlumberger plan
Ways you can spend wisely and save moneyCoordinate your benefits
What you need to know (continued)
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How you can claim wisely and save moneyBe sure to submit any outstanding out-of-pocket amounts to your HCSA Before you submit your
claim: Check the box
requesting that your claim be paid from the plan and your HCSA
If your claim has been processed: Call GWL’s Group
Customer Contact Services at 1-800-957-9777
PLAN REFRESHERJust in case you’ve forgotten …
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Extended Health CareOption 1 Option 2 Option 3
Prescription drugs• Coverage• Deductible
70% Dispensing fee
90%Dispensing fee
100% Dispensing fee
Hospital Semi-private Semi-private Semi-private
All other expenses• Coverage 70% 100% 100%
Paramedical services• Max per
paramedical service
• Annual combined max
$500
$1,500
$500
$1,500
$1,500
$1,500
Vision care (24 months) None (PVS) None (PVS) $200 (PVS)
Orthotics (annual max) $150 $150 $150
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Dental
Option 1 Option 2 Option 3 Option 4
Deductible None None None
No coverage
Basic dental• Recall exams• Periodontics
70% 6 months 16 units
90% 6 months 16 units
100% 6 months 16 units
Major dental• Crowns
50%Included
70%Included
80%Included
Combined maximum $1,500 $2,000 $3,000
Orthodontia• Under age 18• Lifetime max
No coverage 50%$2,000
50%$3,000
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Long-term Disability
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Option 1 Option 2 Option 3
Formula 60% of first $3,000
+50% of next
$4,000
+45% of
remainder
65% of first $7,500
+50% of
remainder
65% of first $6,500
+50% of
remainder
Indexing No No Yes
Monthly maximum
$15,000 $15,000 $15,000
Long-term Disability (continued)
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LTD options – Someone earning $80,000
Option 1 Option 2 Option 3
Monthly cost $71.76 $90.39 $98.58
Monthly benefit $3,633 $4,333 $4,333
Monthly benefit in five years $3,633 $4,333 $5,024
Long-term Disability (continued)
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LTD options – Someone earning $120,000
Option 1 Option 2 Option 3
Monthly cost $101.71 $127.77 $139.34
Monthly benefit $5,150 $6,125 $6,125
Monthly benefit in five years $5,150 $6,125 $7,101
Life InsuranceBasic Optional
Paid for by… Schlumberger You
Automatic Yes No
Coverage
For you2 x your
admissible compensation
Multiples of $25,000
For your spouse $10,000 Multiples of $25,000
For your child(ren) $5,000 Multiples of $5,000
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Remember: You pay tax on premiums paid by Schlumberger & an EOI form is required for optional coverage
Accident Insurance
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Basic Optional
Paid for by… Schlumberger You
Automatic Yes No
Coverage
For you2 x your
admissible compensation
Multiples of $25,000
For your spouse N/A Multiples of $25,000
For your child(ren) N/A Multiples of $5,000
Remember: No medical evidence is required on AD&D coverage
WHAT YOU NEED TO THINK ABOUT
Ask yourself the right questions to choose the right coverage!
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What you need to think about
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Health and Dental Look at this year’s claims Think about what’s changed
Chronic conditions? The need for major
dental work Orthodontia planned?
Talk to your doctor and dentist
What you need to think about (continued)
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Long-term Disability Think about your current
financial obligations Consider other family
income Determine what your future
income needs will be
What you need to think about (continued)
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Life and Accident Coverage Think about your current
financial obligations Determine what your future
income needs will be What would your family need
if you weren’t there? Consider other insurance
coverage you may have
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What you need to think about (continued)
Taxable Benefits Premiums on a number of benefits are taxable You’ll see the amount on your pay slip You pay tax on:
Flex dollars used to pay for life insurance Flex dollars used to pay for accident insurance Business travel accident insurance premiums Wellness Account reimbursements
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What you need to think about (continued)
Retirement and Savings Check out your Sun Life
retirement and savings accounts
How much are you contributing? Should you be contributing more?
Have you used the Sun Life financial planning tools?
What about your investments?
Do you have a beneficiary on file?
mysunlife.ca
WHAT YOU NEED TO DO
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What you need to do
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www.slb-benefits.ca
What you need to do (continued)
Step 1: Log on Go to the YBR website You can sign on from any
computer with Internet access
Use your General Identification Number (GIN) and your Your Benefits ResourcesTM (YBR) PIN to log on.
If you have forgotten your PIN, just click on “I Forgot My PIN” on the home pagewww.ybrcanada.hewitt.com/slb
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What you need to do (continued)
You can reset your PIN yourself …… but you need to set it up When you click on “I
forgot my PIN”, you’ll be asked to set up your security questions
The next time you forget, you can just answer the security questions and reset your PIN immediately
Why not set it up now?
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What you need to do (continued)
Step 2: Select your benefitsThe YBR site will guide you to Verify your contact information Verify your dependent
information Choose your benefit options for
you and your dependents Review your beneficiary(ies) Allocate any excess flex dollars
to your HCSA or Wellness Account
www.ybrcanada.hewitt.com/slb
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What you need to do (continued)
Step 2: Select your flex benefits Save your choices if you need to
leave the YBR site before you have completed your enrollment
You can continue where you left off next time you log on
Once you click on “Complete Enrollment” your choices will be saved and will become your coverage for next year
www.ybrcanada.hewitt.com/slb
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What you need to do (continued)
Step 3: Complete your forms You may need to complete
beneficiary designation forms for your life and AD&D insurance
If you choose optional life insurance for you or your spouse, you will need to fill out an Evidence of Insurability form
If you don’t return your signed forms, your changes, including any new beneficiary designation, will not take effect36
What you need to do (continued)
Benefit Default Coverage
Extended Health Care Option 1
Provincial Health Care (BC only) Current coverage
Dental Option 1
Basic Employee Life 2 x eligible compensation
Basic Spouse Life (if on file) $10,000
Basic Child Life (if on file) $5,000
Basic AD&D 2 x eligible compensation
Long-Term Disability (LTD) Option 1
Any excess flex dollars Deposited to your Wellness Account
If you don’t enroll
QUESTIONS?
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2015 Annual Enrollment – November 3 to 21