Final Day is TODAY to Complete Open Enrollment! Benefits Portal will close on Nov 30th at Midnight
TODAY is the FINAL DAY to complete your Benefits Open Enrollment. This is the time of year that you can make changes and review your benefit elections.
You should have received a "task" in your Workday inbox that says "Open Enrollment Change." You may also click the button below to take you right to Workday.
- If you had elected the Flex Account (FSA) last year, you have to re-elect it every year to continue participating.
- If you take the Medical Cash Out for not taking the Vassar sponsored medical coverage, you will need to re-elect it as well.
- The end of year is not that far away and you want to make sure we have your current mailing address for end of year documents such as the W2.
General Updates to Benefits
- We are not changing any of our insurance benefit providers this year. You will have the option to keep all your current providers/coverage in place with the exception of Supplemental Life and Dependant Life Insurance.
- Medical insurance program rates have increased for 2024 between 4.5% and 8% depending on the provider that you choose.
- Dental insurance rates are not increasing this year. New Dental Plan Offered!
- Due to the enhancements to our Life Insurance plans, you will need to re-designate your beneficiaries.
- Anyone with a Supplemental Dependant Life Plan will need to re-elect their plan for either a Spouse plan and/or a Child(ren) plan.
(Approval for the elections are determined by the carrier Unum not Vassar and additional information may be required)
- New Accident Plan and Specified Disease Plan Offered!
- If you elect the Flexible Spending Account (FLEX), the maximum election the amount has increased to $3,200 and the transit accounts are increasing to $315. The dependent care flex limit will remain at $5,000.
- If you elect the Health Savings Account (HSA), the maximum annual contribution for the Health Savings Account has increased to $4,150 for self-only coverage and $8,300 for family coverage. If you are 55 year old or older, you may contribute an additional $1,000.
- The IRS increased the maximum contribution for your 403(b) plan to $23,000. If you are over 50 you can contribute up to an additional $7,500.
- Did you know that you can see a provider virtually for free through Teledoc? You can schedule with a physician, nutritionist, mental health provider, just to name a few, (virtually) though Healthiest You. The best part is you can do it from the comfort of your home. Go to the Human Resources site under Telemedicine to learn more. (SEIU members please check with 1199 for their telehealth offerings.)
- Are you and your spouse/domestic partner both benefit eligible employees at Vassar College? You may qualify for a credit on your health insurance rates. Contact email@example.com for more information.