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Open Enrollment

Categories: Midd Blogosphere

Open Enrollment for Middlebury’s 2015 Health & Welfare Benefit Plan is being held from November 1 – 14, 2014.  All benefits-eligible employees are required to complete the open enrollment process within this time period even if they do not intend to make benefit changes for 2015.

Open enrollment is your opportunity to:

• Continue your current medical, dental, or vision elections into the new year OR add coverage for yourself and/or dependents OR terminate your own or your dependents’ coverage.
• Continue your current voluntary life and/or accidental death and dismemberment coverage for the new year OR increase OR decrease the amount of existing coverage in these plans.
• Enroll in the health care and/or the dependent care flexible spending account(s) for next year. If you do not make an FSA election, you will not be contributing for 2015 even if you participated in 2014.  For Q&A’s on the Health Care FSA rollover click here.

Open Enrollment must be completed, using Banner Web, between November 1 – 14, 2014.  Benefits eligible employees will be able to access the open enrollment module from any computer with internet access.

Getting Started
1. Access the Open Enrollment System:

• Click this link: http://go.middlebury.edu/bannerweb OR
• On the bottom right-hand corner of the Middlebury homepage http://www.middlebury.edu/  click “Quick Links” and then “Banner Web”

2. Enter your Banner Web User ID (your Midd ID number) and your PIN and click “Login”.
3. Click “Employee”, then “Benefits and Deductions”, and then “Open Enrollment”.

2015 Premium Rate Chart

What’s New with Flexible Spending Accounts

Categories: Midd Blogosphere

Keeping more in your pocket…..

Flexible Spending Accounts (FSAs) are more compelling than ever now that the government has modified its “use-it or lose-it” rule.  You can now rollover up to $500 of unused Health Care FSA funds at the end of the plan year, to be used the following plan year.

Health Care FSAs have always been a great way for you to budget for out-of-pocket health care expenses.  Contributions to the Health Care FSA are deducted from your paycheck on a pre-tax basis – reducing your taxable income and increasing your spendable income by an average of 30% of your annual contribution.  The government has modified its use-it or lose-it rule to allow up to $500 of unused Health Care FSA funds to rollover for use in the following plan year.  Now, you can maximize your tax savings by maximizing your Health Care FSA contributions up to the $2,500 annual limit.

The benefits of the new FSA rule:

  • Rollover up to $500 of unused Health Care FSA funds to the following plan year
  • The rollover amount does not affect the following year’s maximum contribution amount.  You can still contribute up to the maximum allowance of $2,500
  • Maximize your tax savings by increasing your contribution
  • The new rule does not affect the March 15th deadline to submit claims
  • Your entire annual election is still available at the beginning of the plan year

The risk of forfeiting funds has been greatly reduced.  The stress of choosing the “right” election amount has been reduced.  Increasing your contribution amount will automatically increase your tax savings.  Enroll during Open Enrollment (Nov 1st-14th) to enjoy the benefits of the new Health Care FSA rollover provision for 2015.

FSA Rollover Q&A

 

Save the Date: Open Enrollment November 1st-14th

Categories: Midd Blogosphere

Benefits open enrollment is being conducted electronically again this year.  You will be receiving an e-mail (ooa Oct 31st) detailing our 2015 benefits as well as step-by-step instructions on how to enroll using BannerWeb.  Human Resources will gladly help you through the process; if you have questions please call x2320.

Flexible Spending Accounts – it’s not too early to start calculating your 2015 annual election.  Per federal law, this year’s annual limit is $2,500 (plus you may roll up to $500 of unused 2014 Health Care FSA funds into your 2015 account).  If you will have large medical expenses next year (orthodontist work, laser eye surgery, etc.) you should make sure you know how much your out of pocket cost will be for these services before Open Enrollment starts.

For additional information on Flexible Spending Accounts, including a Planning Worksheet visit the Flex Spending webpage.

For Questions and Answers regarding the Health Care FSA rollover click here

All benefits eligible Faculty and Staff are required to complete Open Enrollment between November 1st & 14th.

Important Benefits Reminders

Categories: Midd Blogosphere

Trouble-free employee benefit plan administration requires a strong partnership between employees and Human Resources.  The Human Resources Dept. works diligently each year-end to accurately process the thousands of required or requested benefit record changes, and then we check and double-check our work.  However, in the end, we also must rely on you, the employee, to do your part in managing your benefits by confirming that you are enrolled in the benefits you intended to elect.  Please carefully review your first paycheck and let us know if you have questions or if anything seems amiss.

Medical/Dental Insurance

  • If you made a change to who is covered under your medical or dental plan, new ID cards were mailed to you in December.  Please confirm that you have received your new ID card(s) if you made a change to who is covered under your medical or dental plan.  If you need additional cards (for example, for a child away at college) call the toll-free customer service number on your ID card (1-888-222-9206). 
  • As was announced in November, the employee portion of the medical & dental premiums did not increase for 2014.  However, any employee who made coverage (single/2 person/family) level changes should see a premium change in the first paycheck of 2014. 

Vision Insurance

  • As a reminder the Vision Plan is with Vision Service Plan (VSP).  No ID card is required (just tell your VSP provider the last 4 digits of your SSN and date of birth). A summary of the Plan and other helpful information is available on-line at http://www.middlebury.edu/offices/business/hr/staffandfaculty/benefits/vision.  Premium changes for Vision Insurance are effective the first paycheck of 2014. 

Life and Accidental Death & Dismemberment (AD&D) Insurance

  • Premiums changes related to a change in coverage amount or age-band changes (5 year increments) should be reflected in the first paycheck in 2014.  If you made changes or you hit a new age band in 2013, please confirm that your premium changed. 
  • Requests for new Life coverage or for increases in Life coverage over the guarantee issue amount are not effective until approved by Mutual of Omaha.  An Evidence of Insurability form must be submitted by you to Mutual of Omaha if you have requested this type of change. Mutual of Omaha will notify you directly of approval or denial.  Any premium changes will be made as of the effective date of the approved coverage. 

Flexible Spending Accounts

  • 2014 elections for the Health Care and Dependent Care Flexible Spending Accounts should be reflected in the first paycheck of 2014.  Please review your pay stub and confirm that your contribution is correct (divide your total annual election by 26 to calculate your per pay-period election.) 
  • If you are a new Flexible Spending Account plan participant (you were not enrolled in a FSA last year) then FSA Benefits Cards were mailed to your home address in mid-December.  If you had a FSA last year you will not be issued a new card as they are valid for 3 years.  If your card is due to expire in January 2014, it is good through January 31 & a new card will be issued mid-January.The Benefits Card can be used to access funds in your Health Care and Dependent Care Flexible Spending Account.  Important information about the FSA Benefits Card is available at http://www.middlebury.edu/offices/business/hr/staffandfaculty/benefits/flex . 

Retirement

  • If you submitted forms prior to the holiday break requesting changes to your Voluntary Retirement Plan or to enroll in the 457b Salary Deferral Supplemental Retirement Plan, your new elections should have been reflected in your first paycheck of 2014.  If you requested changes please confirm that your elections are as expected. 

If you have made a change to who is covered on your medical or dental plan and you have not received your new ID card(s), or if a benefit deduction doesn’t look right to you, or if you have any other questions or concerns about your benefits, please contact Human Resources as soon as possible.  Thanks for doing your part to keep our benefit plans running smoothly!

Your Benefits Team,

~Lisa Hoff, Benefits Specialist (Health/Dental/Vision/Flex Spending) x3372
~Loretta Lee, Benefits Specialist (Retirement Plans & Retiree Medical/Dental) x5468
~Franklin Daniel, Benefits Specialist (Retirement Plans & Retiree Medical/Dental) x5755
~Cheryl Mullins, Benefits & Compensation Manager x5542

Open Enrollment

Categories: Midd Blogosphere

Open Enrollment for the 2014 Middlebury College Health & Welfare Benefit Plan is being held from November 1 – 14, 2013.  All benefits-eligible employee are required to complete the open enrollment process within this time period even if they do not intend to make benefit changes for 2014.

Open enrollment is your opportunity to:

• Continue your current medical, dental, or vision elections into the new year OR add coverage for yourself and/or dependents OR terminate your own or your dependents’ coverage.
• Continue your current voluntary life and/or accidental death and dismemberment coverage for the new year OR increase OR decrease the amount of existing coverage in these plans.
• Enroll in the health care and/or the dependent care flexible spending account(s) for next year. If you do not make an FSA election, you will not be enrolled for 2014 even if you participated in 2013.

Open Enrollment must be completed, using Banner Web, between November 1 – 14, 2013.  Benefits eligible employees will be able to access the open enrollment module from any computer with internet access. 

Getting Started
1. Access the Open Enrollment System:

• Click this link: http://go.middlebury.edu/bannerweb OR
• On the bottom right-hand corner of the Middlebury homepage http://www.middlebury.edu/  click “Quick Links” and then “Banner Web”

2. Enter your Banner Web User ID (your Midd ID number) and your PIN and click “Login”.
3. Click “Employee”, then “Benefits and Deductions”, and then “Open Enrollment”.

2014 Premium Rate Chart

2012 Flexible Spending Claim Submission Deadline

Categories: Midd Blogosphere

Do you still have money left in your FSA account?  If so, time is running out!  2012 Flexible Spending Account Participants have until midnight (ET) on March 15, 2013  to submit claims for services provided in the calendar year 2012. All claims should be sent to CBA Blue via:

• Fax at 888.291.0920

• Mail to :

CBA Blue
PO Box 2365
S. Burlington, VT 05407-2365

Claim forms can be found in the HR office or go/flex

Per IRS Regulations, all remaining balances after March 15th will be forfeited. Don’t let this happen to you!

If you have questions about your Flexible Spending Accounts contact CBA Blue at 1-888-222-9206 or Lisa Hoff at x3372.

Important Benefits Reminders

Categories: Midd Blogosphere

Trouble-free employee benefit plan administration requires a strong partnership between employees and Human Resources.  The Human Resources Dept. works diligently each year-end to accurately process the thousands of required or requested benefit record changes, and then we check and double-check our work.  However, in the end, we also must rely on you, the employee, to do your part in managing your benefits by confirming that you are enrolled in the benefits you intended to elect.  Please carefully review your first paycheck and let us know if you have questions or if anything seems amiss. 

Medical/Dental Insurance

  • If you made a change to who is covered under your medical or dental plan, new ID cards were mailed to you in December.  Please confirm that you have received your new ID card(s) if you made a change to who is covered under your medical or dental plan.  If you need additional cards (for example, for a child away at college) call the toll free customer service number on your ID card (1-888-222-9206).
  •  As was announced in November, the employee portion of the medical & dental premiums did not increase for 2013.  However, any employee who made coverage (single/2 person/family) level changes should see a premium change in the first paycheck of 2013.

 Vision Insurance

Life and Accidental Death & Dismemberment (AD&D) Insurance

  • Premiums changes related to a change in coverage amount or age-band changes (5 year increments) should be reflected in the first paycheck in 2013.  If you made changes or you hit a new age band in 2012, please confirm that your premium changed.
  • Requests for new Life coverage or for increases in Life coverage over the guarantee issue amount are not effective until approved by Mutual of Omaha.  An Evidence of Insurability form must be submitted by you to Mutual of Omaha if you have requested this type of change. Mutual of Omaha will notify you directly of approval or denial.  Any premium changes will be made as of the effective date of the approved coverage.

 Flexible Spending Accounts

  • 2013 elections for the Health Care and Dependent Care Flexible Spending Accounts should be reflected in the first paycheck of 2013.  Please review your pay stub and confirm that your contribution is correct (divide your total annual election by 26 to calculate your per pay-period election.) 
  • If you are a new Flexible Spending Account plan participant (you were not enrolled in a FSA last year) then FSA Benefits Cards were mailed to your home address in mid-December.  If you had a FSA last year you will not be issued a new card as they are valid for 3 years.   The Benefits Card can be used to access funds in your Health Care and Dependent Care Flexible Spending Account.  Important information about the FSA Benefits Card is available at http://www.middlebury.edu/offices/business/hr/staffandfaculty/benefits/flex
  • You have until March 15, 2013 to file claims against your 2012 flexible spending accounts for expenses incurred in 2012.  The FSA Claim form and other helpful information on Flexible Spending Accounts can be found at http://www.middlebury.edu/offices/business/hr/staffandfaculty/benefits/flex.Please visit CBA Blue’s website at http://select.cbabluevt.com/middlebury/ to review your account information.

 Retirement

  • If you submitted forms prior to the holiday break requesting changes to your Voluntary Retirement Plan or to enroll in the 457b Salary Deferral Supplemental Retirement Plan, your new elections should have been reflected in your first paycheck of 2013.  If you requested changes please confirm that your elections are as expected.

 If you have made a change to who is covered on your medical or dental plan and you have not received your new ID card(s), or if a benefit deduction doesn’t look right to you, or if you have any other questions or concerns about your benefits, please contact Human Resources as soon as possible.  Thanks for doing your part to keep our benefit plans running smoothly!

 Your Benefits Team,
~Lisa Hoff, Benefits Specialist (Health/Dental/Vision/Flex Spending) x3372
~Loretta Lee, Benefits Specialist (Retirement Plans & Retiree Medical/Dental) x5468
~Cheryl Mullins, Benefits & Compensation Manager x5542