Open Enrollment is the time each fall for all employees to make benefit elections for the coming year. For 2027 elections, Open Enrollment with Portico will begin in late October and close in early November. As a result of Portico’s offerings this year, we want to inform you of two changes that will impact employee out-of-pocket costs:
- Change 1. Increase in Medical Plan Premiums. Portico is increasing all medical plan premiums by 15%. Because Luther Seminary is committed to affordable and comprehensive employee benefits, we will continue covering 91% of total premiums, which means employees will continue to pay about 9% of their premium. In the high-deductible plan, employee costs will go up slightly—family plans will increase about $26 per month, individual and plus-one plans will increase by smaller amounts. Employees in the co-pay plan will also see an increase in premiums—the 2027 rates will be available from Portico soon. Sharing these cost increases between the seminary and employees makes it more manageable for all.
- Change 2. Annual Deductibles. Portico is also increasing annual deductibles by $500–$1,000 depending on the plan. For employee-only plans, the annual deductible is increasing from $2,000 to $2,500. For spouse and family coverage plans, the annual deductible is increasing from $4,000 to $5,000.
On Wednesday, October 14, from 9–10:30 a.m. in OCC 10, the seminary’s Portico representatives will be on campus to present plan details and answer your questions. Additional information and calendar invitations to follow. All staff and faculty are invited to attend this presentation. If you have questions about these changes or about Open Enrollment generally, please contact Carrie Johnson (cjohnson007@luthersem.edu) or me (jahrens001@luthersem.edu).
Thank you for your commitment to Luther Seminary,
Joe Ahrens
Controller