Madison IAQ Open Enrollment FAQ

Check back for more information closer to open enrollment.

Enrollment

Q: Why are we streamlining our benefits across Madison IAQ?

A: For the 2023 annual enrollment, we are excited to leverage the power of our 9,000 entrepreneurs and present a Madison IAQ wide benefits package. From our employee survey earlier this year, we know that competitive benefits and offerings is important to our employees, and we are proud to be presenting a unified benefits offering, while also addressing general inflationary trends and rising healthcare costs. By coming together, we are able to negotiate better rates and bring more benefit offerings to our employees.

Q: When is Open Enrollment?

A: For most employees, open Enrollment will be held Monday, October 24– Friday, November 4, 2022.  If you are a Nortek Air Solutions, NGH, or Data Cooling Center employee, your open enrollment is Monday, October 31 – Friday, November 11, 2022. This is an active enrollment, meaning that you must complete open enrollment to elect the benefits for you and your family. You will not be automatically enrolled in benefits. You must make your selections and enroll during the enrollment window.

Q: How do I enroll?

A: Enrolling in benefits is a simple process.

Nortek companies will enroll through the same Workday system you use today.  When open enrollment goes live on Monday, October 31st, all you need to do is log into Workday and open the Open Enrollment Change task in your inbox.  You can access your Workday inbox from the home screen. 

All other companies within Madison IAQ will enroll through TBX.  You can access this new enrollment system by going to my.tbx.260/com/miaq. See your benefit guide for important login instructions.

No matter how you access open enrollment, be sure to

  • Verify your personal information
  • Provide information on your dependents
  • Select your benefits
  • Review your benefits selections
  • Save your new elections           

Q: If I already have benefits through my employer, will I automatically be enrolled for 2023 benefits?

A: No. All employees must enroll during open enrollment to receive benefits for 2023. There will not be any automatic roll overs. As the benefit offerings are changing for 2023, it is important to review the new plans to ensure you select the options that best fit your needs.

Q: When do my benefits take effect?

A: The elections you make during open enrollment take effect January 1, 2023.

Q: Where do I go if I have questions?

A:  All Madison IAQ companies will hold open enrollment meetings from late October to early November.  Many of these sessions will be in-person and for those who cannot attend, virtual sessions will also be provided.  Look for information from your local human resources representative on when these meetings will be offered.

Nortek employees will also continue to be supported by Health Advocate.  You can speak to an advocate by calling 866.799.2728.  All other MIAQ employees can access the TBX customer service center by calling 855.482.9669.

Eligibility

Q: How do I know if I am eligible for benefits?

A: Any active employee working a regular schedule of at least 30 hours per week is eligible for benefits. You may also add your eligible dependents. Please connect with your human resources representative for questions specific to your company.   

High-Deductible Health Plan (HDHP)

Q: What is a high-deductible health plan?

A: The high-deductible medical plan, referred to as the HSA plan at MIAQ, has two parts, a high-deductible health plan (HDHP) and a health savings account (HSA). The plans are designed to put you in control of your health care dollars by providing you with funds in your HSA to spend when and if you need care while keeping paycheck deductions at a reasonable rate.

The consumer-directed model encourages everyone to make smart spending choices by staying on top of your health with free in-network wellness exams. And, when you need more care, you can make smart choices by using:

  • In-network doctors and pharmacies
  • Generic drugs when possible
  • Lower-cost care options like urgent care or telehealth virtual care for non-emergency needs
  • In-network free-standing imaging centers for X-rays and scans 

Q: Will I be required to change doctors?

A: With BlueCross BlueShield, all employees have access to a large network of provider and hospitals. If your providers are currently in-network, then you’re all set. If your providers are not in the network, you may want to consider researching other in-network provider options to maximize your health care dollars.

Q: How can I make sure my preventive care is coded right, so I don’t have to pay?

A: When you schedule your wellness exam, make sure to tell your doctor’s office staff to bill your visit as preventive. 

Health Savings Account (HSA)

Q: How does an HSA work? 

A: A health savings account (HSA) is a triple tax-advantaged account that lets you save pre-tax dollars for future qualified medical expenses. It’s triple tax advantaged in that you have tax-free contributions, tax-free investment earnings, and tax-free withdrawals for qualified healthcare expenses.  As an added bonus, the dollars that you contribute to an HSA are yours now and, in the future, and the dollars do not have to be spent within the plan year.

Remember to check your HSA balance before using your debit card. You can check your HSA balance by logging into your account at OptumBank.com

Q: What can I use my HSA dollars for?

A: You can use your HSA dollars tax-free for IRS-qualified medical expenses like:

  • Doctor visits
  • Prescriptions
  • Hospital stays
  • Scans like X-rays, MRIs and CT scans
  • Medical equipment

Remember, your HSA dollars can only be used for eligible expenses incurred by you and the dependents you cover under your company medical plan. Visit irs.gov for a complete list of the IRS-qualified expenses. 

Q: I already have an HSA card. Will I receive another one for 2023?

A: If you already have an Optum HSA card, you will not receive a new debit card in December.  Your HSA funds will be linked to this debit card to make accessing your accounts easy!  

Q: What happens if I have HSA dollars left at the end of the year?

A: The dollars in your HSA are yours to keep, regardless of if you leave your current employer. HSA accounts can also be used to invest in mutual funds tax-free.

Health Care Flexible Spending Accounts (FSA)

Q: What is a Health Care Flexible Spending Account (FSA)?

A:  A Health Care FSA allows you to set aside some of your wages before taxes to pay for eligible health care expenses for you and your dependents. You can use your funds for eligible medical, prescription, dental and vision expenses. Visit OptumBank.com for more details.

Q: What is a Limited Purpose Health Care FSA?

A: If you are enrolled in the HSA medical plan option, you may set aside some of your wages before taxes to pay for eligible vision and dental expenses for you and your dependents. 

Q: How much can I contribute?

A:  You can contribute up to $3,050 to your Health Care FSA annually. The annual contribution you select will be divided over each pay period in 2023 as determined by your business and will be deducted from each paycheck. Your contribution remains effective Jan. 1 – Dec 31 and changes can only be made with a qualifying life event. 

Q: How do I pay for eligible expenses with my FSA?

A: A debit card is provided for you to access your Health Care FSA funds.  If you are also enrolled in a 2023 medical plan, this debit card will be linked to your health reimbursement account (HRA). You can access your balance and more information by visiting OptumBank.com.

Q: What happens if I have funds remaining in my account at the end of the year?

A: If you have funds remaining in your Health Care FSA on December 31, you may roll over up to $570 of your unused balance to the following year, provided you enroll in the Health Care FSA for the following year. As you can submit expenses incurred in 2023 up until March 31, 2024, any unused funds will not roll in to your 2024 Health Care FSA until April 2024.  

Dependent Care Flexible Spending Accounts (FSA)

Q: What is a Dependent Care Flexible Spending Account (FSA)?

A:  A Dependent Care FSA allows you to set aside some of your wages before taxes to pay for eligible childcare or elderly care expenses for your dependents. Visit OptumBank.com  for more details.

Q: How much can I contribute?

A:  You can contribute up to $5,000 to your Dependent Care FSA annually. The annual contribution you select will be divided over each pay period  in 2023 as determined by your business and will be deducted from each paycheck. The amount remains effective Jan. 1 – Dec 31 and changes can only be made with a qualifying life event. 

Q: How do I get reimbursed for my dependent care expenses?

A: You can request a reimbursement from your account as funds become available by visiting OptumBank.com

Q: What happens if I have funds remaining in my account at the end of the year?

A: Unused Dependent Care funds do not roll over from year to year due to IRS restrictions. You will have until March 31 to submit expenses for reimbursement. Any funds remaining in the account after March 31 cannot be refunded per restrictions from the IRS.

Want to assess your indoor hygiene?