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Annual Open Enrollment

MERIT 2014 BENEFIT PROGRAM CHANGES
Effective January 1, 2014

 

There is a dental open enrollment and there are changes to some family health insurance rates.  Overall, there is very little change to the benefits program this year.

If these 2 conditions are met, you do not need to take any action for this year's open enrollment:

  1. You do not want to make any changes in your benefits.

  2. You want your annual spending account contributions to remain the same as those in 2013.

ONLINE OPEN ENROLLMENT IS AGAIN AVAILABLE FOR MERIT STAFF

You can complete your enrollment online if you so choose.  In order to make changes in your benefits, you must notify the University Benefits office. We will open an online enrollment for you (or send you the paper form you need for the change/s you desire to make.) 

This process change allows us to offer online enrollment as an option, and also allows us to save THOUSANDS of sheets of paper and the associated costs. You only need to contact University Benefits if you desire to make a change to your benefits (including changes in spending account contribution amounts.)

If you want to make benefits changes for 2014, and would like to be able to complete your enrollment quickly and simply online, please e-mail the Benefits Office from your university e-mail account that you would like an annual online enrollment opened Please enter your Employee ID or University ID in the e-mail that opens and simply hit “Send.” University Benefits will open an online enrollment within one business day and you can complete your enrollment on employee self service at any time prior to midnight November 18th, 2013.

If you do not want to enroll online, you can request a paper form (this must be done from your University e-mail account). Please enter your Employee ID or University ID in the e-mail that opens and simply hit “Send.”  You can also contact the Benefits Office by phone to request an online event be opened or forms be sent through campus mail.

HEALTH INSURANCE –

There are no benefit design changes to the State of Iowa health insurance plans for 2014.  

There are increases in family premiums for Program III Plus and Iowa Select. Monthly family rates will be $276.42 for 3 Plus and $270.64 for IA Select.

DENTAL INSURANCE –

There is an open enrollment opportunity for dental insurance.  This occurs every few years, so it is an opportunity to sign up for dental insurance for yourself or to add your dependents.  Rates have not changed for 2014.

Single coverage is provided at no cost to the employee.

The standard family monthly premium is $39.14 per month. 

The Family Double Spouse rate is $20.03

SPENDING ACCOUNTS –

You may enroll, change your contribution amount, or cancel your participation in the flexible spending accounts (FSAs) for 2014 during open enrollment.

The maximum contribution allowed to a health care flexible spending account is $2500. 

Dependent Care: If you file your Federal taxes as married filing separately, you may each deposit up to a maximum of $2,500 annually, or $208.33 spread over 12 months.  All other tax filing statuses may deposit up to a maximum of $5000.00 annually, or $416.66 monthly when spread over 12 months.

If you want your annual contribution to remain the same as last year, no action on your part is required.  If you wish to change your contribution amount, you must notify the Benefits Office - see "Benefits Office Notification Required for Changes" section at the top of the page. 

GROUP LIFE INSURANCE –

No changes - the amount of group life insurance provided by the University is 2 times salary. 

SPOUSE/PARTNER AND/OR DEPENDENT LIFE INSURANCE –

Term life insurance coverage is available for your partner/spouse and/or dependents (14 days to 26, unless the dependent is disabled; if dependent is disabled and classified as a dependent for tax purposes, there is no maximum age for coverage). 

Please note that this premium may only be paid after-tax, as a deduction from your net pay.  Rates have not changed for 2014.

ACCIDENTAL DEATH & DISMEMBERMENT INSURANCE –

Changes in this insurance must be made during open enrollment or when you have a qualifying event. 

Dual University of Iowa employed spouses/partners and any children may not double insure each other or dependents. An individual may only be included once under this policy.

COST INFORMATION

Rates have not changed for 2014.

Singles = $2.00 per $100,000 per month
Employee/Spouse = $2.80 per $100,000 per month
Employee/Children = $2.30 per $100,000 per month
Family = $3.10 per $100,000 per month

If you are not making any changes, no action on your part is required.

SUPPLEMENTAL LIFE INSURANCE -

Changes in this insurance must be made during open enrollment or when you have a qualifying event. 

Rates have not changed for 2014.

COST

Rates are keyed to the coverage levels in the Schedule of Life Insurance. The rates for coverage are:

Age Monthly Rate per $1000 in coverage
Less than age 40 $.04
40 but less than 50 $.10
50 but less than 60 $.26
60 and up $.56

 

If you are not making any changes, no action on your part is required.

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