Benefit News and Updates

PERF participants need to take action to prepare for upcoming changes

The Indiana Public Retirement System will change to a new record keeper, Voya Financial, in January and will enhance its website. Staff participating in the Public Employees' Retirement Fund are encouraged to sign in to their PERF account by Wednesday (Nov. 22) to print account statements for their personal records and update personal information, including email address and beneficiaries. More information about the upcoming changes is available here.

CVS Caremark chosen to provide prescription coverage in 2018

CVS Caremark will become the new prescription benefits manager, replacing Express Scripts on Jan. 1, 2018. The manager, sometimes referred to as the PBM, helps Purdue manage pharmacy benefits by working with drug manufacturers to establish pricing arrangements; setting the formulary of covered preventive, generic and brand-name drugs, and overseeing the review of drug use. The change will bring overall savings to employees and the University with limited disruption to plan participants. More information about covered drugs and pricing can be found here.

Benefit enrollment now online through Benefitfocus

Benefitfocus – the new benefit enrollment and management tool introduced in July 2017 – is ready to serve you around the clock throughout the year. You’ll be able to manage your benefits with services that include: Completing enrollment as a new employee, submitting new elections when you have a qualifying life event (for example, when you get married or have a baby), reviewing current benefits throughout the year, changing how much you’re contributing to your Health Savings Account (HSA),and checking and updating your beneficiary information for term life insurance and accidental death and dismemberment coverage. For more details, including instructions on how to enroll, click here.

Anthem livens up access to health care with LiveHealth Online services

For those who have ever had an illness or injury hit them out of the blue, at the most inconvenient time – such as the middle of the night, on vacation or after your doctor’s office and urgent care centers have closed – and you need to see a doctor, you now have another option, literally at your fingertips. Read the full HR Connect article here.

Protect your loved ones – update beneficiaries

Designating your beneficiaries ensures that your funds are appropriately distributed per your wishes and not defaulted to your estate. Once designated, it is recommended to review your beneficiary designations each year to ensure no changes are needed.

Several of your Purdue benefits provide for beneficiaries in the event of your death so updated information is very important. Read the full HR Connect article with instructions on how to update beneficiaries here.

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