Open enrollment is right around the corner

open enrollment
(Image courtesy of iStock photo)
The Open Enrollment period for 2017 will take place from Oct. 30 - Nov. 10. Changes made during this time will become effective Jan. 1, 2018. Now is a great time to review your benefits prior to this year's Open Enrollment period. 

Don't miss out because the next opportunity to modify your benefits will be in November 2018, unless you experience a qualifying life event. Examples of qualifying life events include:
  • Birth or adoption of a child
  • Marriage or divorce
  • Loss of a spouse or second domiciled adult's benefits coverage
  • Termination of coverage elsewhere​
What is staying the same?

For 2018, there will be no plan design changes to the health plans.  Deductibles, copays, coinsurance and out-of-pocket maximums are staying the same. 

Employees can change health and welfare benefit elections during Open Enrollment, including: 
  • Health (medical, dental, vision)
  • Flexible spending accounts - requires re-enrollment every year
  • Life insurance (supplemental life, accidental death & dismemberment, dependent life)
Three things you may not know about Open Enrollment:

You change your insurance beneficiaries any time, but now is a good time to review

Open Enrollment is a great opportunity to verify your dependent information in Campus Connect and your life insurance beneficiary information with Liberty Mutual. To view your dependent information in Campus Connect, go to Self Service > Benefits > Dependent/ Beneficiary Info. To view and/or modify your beneficiary information, go to Self Service > Benefits > Liberty Mutual. ​

You need to re-enroll in flexible spending accounts

The health care and dependent care flexible spending accounts require re-enrollment each year. If you do not re-enroll during Open Enrollment, your election will default to waived. ​

Make changes to your 403(b) plan throughout the year, not just during Open Enrollment

You can make changes to your 403(b) election at any time. A change will become effective the next pay period if you make your elections at the latest, the Friday before payroll week. To make changes, go to Campus Connect and go to Self Service > Benefits > 403(b) Contributions.  ​​

Take a closer look at the Consumer Driven Health Plan 

It can be hard to predict what your healthcare needs may be from year to year.  Human Resources offers a couple of useful tools that can help you make a more informed decision when choosing a medical plan.

The CDHP is the most underutilized plan of the three plans offered by the university, largely due to the high deductible associated with the plan.  However, as many individuals have discovered, the CDHP can often provide the most economical medical plan in the long run.

Is the CDHP right for you? ALEX can help answer this question. You can also take a closer look at the CDHP here.

Please note:  ALEX helps you choose benefits, but ALEX doesn't actually make any enrollment changes for you.  You will still need to make your benefit election through Campus Connect. 

For more information about Open Enrollment or any of your benefit plan options, visit the HR Benefits website.  Remember to make your benefit elections during the Oct. 30 - Nov. 10 Open Enrollment period.