Open Enrollment Ends October 31!
Human Resources would like to remind you that the annual Open Enrollment Period runs through next Tuesday, Oct. 31. This year, there are no changes in benefit vendors. As a result, employees only need to submit forms (no online open enrollment this year) if they are making changes to benefits (i.e. adding or deleting coverage, changing coverage types or level, changing dependent information) or electing FLEX benefits. Please visit https://www.stetson.edu/other/benefits/open-enrollment/ for more details on this process. Also, information about our health plans under United Healthcare has been published on our website at https://www.stetson.edu/other/benefits/2018-plan-information.php including the 2018 rate sheet and detailed plan information.
Flex Spending and Retirement IRS Updates
This week the IRS released two updates that impact our benefits. Details on both are below:
- The annual limit for the flexible spending accounts for medical expenses increased for calendar year 2018. The new annual limit is $2,650, a $50 increase over the 2017 limit. There is no increase to dependent care flex accounts ($5,000 maximum). Please remember to submit a FLEX form to the HR Office if you wish to elect this benefit for next year. If you have already submitted your FLEX form, and wish to increase the amount you elected to the new maximum, send an email to Lori Kasbeer at email@example.com, and she will update your form.
- The annual limit for 403(b) retirement contributions increased to $18,500 for calendar year 2018. All employee contributions to TIAA retirement accounts can be made through TIAA’s website, there are no longer forms in HR to complete. Please visit tiaa.org for more details.