Faculty and Staff Benefits Enrollment and Deductions

Understanding your benefits and the associated deductions is critical for making informed decisions about your coverage. Here's what you need to know about benefits enrollment and deductions:

Types of Benefits:

Benefits can include various types of coverage, such as:

Health Insurance: Coverage for medical expenses, including doctor visits, hospital stays, and prescription medications.
Dental Insurance: Coverage for preventive, basic, and major dental services.
Vision Insurance: Coverage for eye exams, prescription eyewear, and more.
Retirement Plans: Savings plans such as 403(b) or pension plans that allow employees to save for retirement.
Flexible Spending Accounts (FSAs): Accounts to set aside pre-tax funds for eligible medical and dependent care expenses.
Life Insurance: Provides financial protection for families in the event of death or disability.
Disability Insurance: Provides income replacement if unable to work due to illness or injury.

Understanding Deductions:

Deductions are amounts withheld from your paycheck for your benefits. They can be pre-tax or post-tax, depending on the benefit type and policies.

Enrollment Process:

During open enrollment or within 30 days of a qualifying life event (e.g., marriage, birth of a child), you can enroll in or change benefits coverage.

Review Your Options: Review available benefits, coverage levels, costs, and eligibility requirements.
Enrollment Forms: Complete necessary forms to elect or change coverage. Provide accurate information and review selections.
Submit Forms: Submit forms to HR or benefits administrator by the deadline.
Confirmation: After enrolling, receive confirmation of coverage elections, including details of deductions and effective dates.

Managing Changes:

If you experience life changes, you may be eligible to make coverage changes outside of open enrollment. Contact HR for assistance.

Understanding benefits enrollment and deductions enables informed decisions about coverage, ensuring necessary protection for you and your family.