I am pleased to announce the annual Benefits Open Enrollment period for faculty and staff. This critical period allows you to review and make changes to your benefits to ensure that you and your family have access to the best possible coverages for your needs.
Open Enrollment Period: Starts: Monday, October 9, 2023 / Ends: Monday, October 30, 2023
As in past years, this is an active enrollment process, meaning that benefits-eligible employees must log in to bswift to confirm or change their elections.
During this Open Enrollment period, you have the opportunity to:
- Review Your Current Benefits: Take time to carefully review your current benefits, including medical, dental, vision, and any additional coverage you may have.
- Make Changes: If you wish to make changes to your benefits coverage, you can do so during this period. This includes enrolling in a different plan, adding or removing dependents, and adjusting your coverage levels.
- Explore New Options: Are you or a family member seeking coverage outside New England? Be sure to explore the PPO Deductible and PPO Saver options to see if they better suit your needs.
- Reevaluate Your Health Savings and Contributions: If you contribute to a Health Savings Account (HSA) or a Flexible Spending Account (FSA), now is the time to select your contributions for the next year. You can also make elections for Dependent Care FSA and Charitable Contributions.
- Perform An Annual Check-Up: Review your various policy beneficiaries, retirement contributions and investments, as well as Federal and State tax withholdings.
- Ask Questions: If you have any questions or need assistance navigating the enrollment process, our HR team is available to provide support.
Important Changes for 2024:
- Health insurance premiums increase from 4.9% to 6.5%, depending on the plan and coverage tier you choose. Dental premiums will increase by 1% for all plan tiers.
- The college will continue to cover 80% of the entire benefits budget, and the aggregate employee share will be 20%.
- The IRS adjusted limits for High Deductible Health Plans (HDHP). The minimum deductible amount for HDHPs will be applied to the PPO Saver plan, increasing the deductibles to $1,600 for individual coverage and $3,200 for employee plus one and family coverage.
- The Dental Plan now includes 100% coverage for all tiers of dental services for covered dependents under 13.
- You can review the 2024 Health, Dental, and Vision Plan Costs on the HR website. You can also review all benefit plan premiums in bswift during open enrollment.
We understand that selecting the right healthcare coverage can be a significant decision, and we want to ensure you have all the information and resources you need. We strongly encourage you to take advantage of the various resources available, such as informational sessions (happening virtually and in person) and benefit plan summaries, to make informed decisions about your healthcare and other benefits. Details can be found on the 2024 Open Enrollment website.
Once again, this is an active enrollment; all employees must log in to bswift to make elections by Monday, October 30, 2023. This includes elections for the 2024 Health Care FSA, Dependent Care FSA, HSA, and/or Charitable Donations, in addition to updating your dependents and beneficiaries as needed.