This year’s Benefits Open Enrollment (BOE) (www.mi.gov/BOE) runs from October 16, 2023, through November 6, 2023. BOE is your annual chance to enroll in or change elections for health, dental, vision, life, and long term disability (LTD) insurance, in addition to Health Care and Dependent Care Flexible Spending Accounts (FSAs). FSA elections do not automatically renew, therefore you must re-enroll if you wish to participate in the 2024 FSA benefit.
Effective January 1, 2024, McLaren Health Plan and Physicians Health Plan (PHP) have chosen to no longer offer health insurance to state employees, retirees and dependents. Enrollees in either plan must elect a new health plan during BOE to continue health coverage after December 31, 2023. Enrollees in these plans will be mailed and emailed more information.
Changes this year include increases in the deductible for the State High Deductible Health Plan (HDHP) with Health Savings Account (HSA). In order to comply with IRS regulations, the In-Network deductible is increasing from $1,500 to $1,600 for individuals and from $3,000 to $3,200 for family coverage. The Out-of-Network deductible is increasing from $3,000 to $3,200 for individual coverage and from $6,000 to $6,400 for family coverage. For the HSA, the IRS has increased the annual combined employee and employer HSA maximum contribution limit to $4,150 for individual coverage and $8,300 for family coverage.
Health Maintenance Organization (HMO) rates will increase for 2024, while SHP PPO and State HDHP with HSA rates will stay the same. Visit the Insurance Rates page to review premiums and the Understanding HMO Insurance Premium Rates resource for a comprehensive explanation of the premium split. The Health Plan Cost Comparison Scenarios and 2024 Health Plan Comparison Chart highlights similarities, differences, and cost-sharing details to assist in helping you choose the health plan that may be best for you.
Changing your health plan is a significant decision. It is important to select a plan that best meets your needs by covering services and medication you require. Contact your health care providers (e.g., primary care physician, specialists, therapists, facilities, etc.) to verify if they are in-network with other State of Michigan health insurance plans you are considering. Review prescription drug formularies to determine tier placement of current medications, if covered. Be aware of prior authorization or other requirements and work with prescribers to help avoid disruption when the new plan coverage begins January 1st. Prescription drug formularies are subject to change and should be reviewed during BOE prior to making elections for 2024.
Effective January 1, 2024, flexible spending account (FSA) annual goals must be dispersed over 25 bi-weekly pay periods. IRS regulations require FSA contributions be made at uniform intervals for all participants. 25 bi-weekly pay period contributions allow employees to elect up to the FSA annual maximum(s), if desired. For additional FSA related information, view the 2024 FSA Plan Booklet.
The effective date for BOE elections and changes is January 1, 2024. This is also when deductibles and out-of-pocket maximums (OOPMs) reset. The coverage period lasts through December 31, 2024. If you add a new individual to your insurance coverage through the BOE process, required supporting documentation must be provided to the MI HR Service Center by November 13, 2023. For additional BOE related information, view the CY24 BOE Booklet.
Visit www.mi.gov/selfserv to complete the BOE process online through HR Self-Service between October 16 through November 6, 2023.