Open enrollment for benefit plans set for April 6-24

Rice’s annual open enrollment for health and welfare benefits will be April 6-24, and there are a few changes in this year’s offerings.

All benefits except medical plans and the dental PPO will remain at the same rates as 2019-20; medical plan rates are going up by an average of 3.6%, while the dental PPO will cost 2.1% less. Detailed information regarding plan changes and rates will be available April 3 by visiting benefits.rice.edu and clicking the “Annual Enrollment 2020-2021” button.

Among the changes in 2020-21, with new premiums and plans going into effect July 1:

-Coinsurance for brand-name drugs is being introduced. Patients will pay 30% of the price of formulary brand-name drugs with the minimum out-of-pocket cost set at $40 and the maximum at $80. For non-formulary brand-name drugs, patients will pay 40% of the price with the minimum set at $70 and the maximum at $140. Generic drugs will be covered with a $10 copay.

-Deductibles are being introduced to the HMO option. The levels are $150 for an individual and $300 for a family, applying to services other than office visits.

-Coinsurance is being introduced to the POS option. For services other than office visits, after the deductible is met, the employee will pay 10% of the cost of services up to the out-of-pocket maximum.

All changes or new elections must be made by April 24. For more assistance, visit benefits.rice.edu or call 713-348-2363. If questions remain, email benefits@rice.edu.