Open enrollment is your annual opportunity to change your benefit elections for the upcoming plan year. You have from April 15 until May 16 to

• change your health plan option,
• add or remove dependents,
• sign up for a Flexible Spending Account (FSA) for health care or dependent daycare expenses,
• start or increase supplemental life insurance or accidental death and dismemberment (AD&D)
• sign up for new or continuing payroll deduction for the Health Savings Account (HSA)

If you aren’t making any changes and don’t want the FSA or HSA, you don’t need to turn in a form. But if you have dependents in the plan and you have not provided their Social Security numbers previously, please turn in a dependent enrollment form to provide that information now. The Social Security numbers for dependents are required for our annual health care reform reporting. Just check the box “currently enrolled” on the form so we know you’re not making changes.

If you’ve previously opted out of the UA Choice health plan, you don’t need to do that again. Just remember that you are required to enroll in a UA Choice health plan within 30 days if you happen to lose your other coverage for whatever reason.

This is also a good time to review your beneficiary designations for life insurance and retirement programs.

The life insurance and AD&D beneficiary form is on the benefits forms page at http://www.alaska.edu/hr/forms/hr_benefits/ �If you are electing either of these coverages now you should complete the appropriate section of this form, and turn it in to HR with your election form.

PERS and TRS beneficiary forms are on their site:
http://doa.alaska.gov/drb/forms/index.html#.VTanYpNvn9U (send these forms directly to the Division of Retirement at the address on the form.)

ORP and UA Pension companies have their own beneficiary forms and process, many you can update online from your secure portal. Log in to your account to find out more.

What’s Changing?

The plan changes this year apply to the Consumer-Directed Health Plan (CDHP) and the Health Savings Accounts (HSA).

Because of a change in federal regulations dealing with individual maximum limits in family plans, we’re lowering the maximum family out-of-pocket limit to $6,850. To balance this change, the CDHP deductibles will be going up to $1,500 for an individual and $3,000 for family coverage. Remember, if you are covering anyone else in addition to yourself, the family deductible and maximum out-of-pocket apply.

Health Savings Account limits will be unchanged for the individual at $3,350, and increasing to $6,750 for family coverage. Remember that if you are turning 55 or older this year you can add an additional $1,000 to your account. Note that the increase now allows you to almost fully fund your CDHP out-of-pocket maximum with the HSA.