FSAs extended into 2006; Open Enrollment Oct. 10-21
Faculty and staff currently enrolled in health care and dependent care Flexible Spending Accounts (FSAs) will have until March 15 to incur eligible medical and dependent care expenses and still be reimbursed from their 2005 FSAs.
The grace period will allow faculty and staff the opportunity to file claims against unused balances from the previous year and is intended to help employees avoid losing the money they put into FSAs, but will not claim by the end of the calendar year.
FSAs allow participants to set aside pre-tax dollars for certain out-of-pocket health care and dependent care expenses.
Claims for expenses incurred through March 15 must be filed by May 31. FSA accounts require annual re-enrollment, and can be elected online during Open Enrollment, Oct. 10-21.
For more information about FSAs, go to: http://www.umich.edu/~benefits/plans/reimburse/index.htm.
Web-based enrollment using eBenefits is now the standard way to make benefit elections for 2006. Active U-M faculty and staff can access eBenefits at https://wolverineaccess.umich.edu/ with a uniqname and UMICH (Kerberos) password to view current benefits and make changes for 2006.
Employees may enroll anytime and make changes to elections as many times as needed during the Open Enrollment period.
Late September: Distribution of Open Enrollment books will begin via campus mail to faculty and staff. Books for retirees, survivors, and long-term disability participants will be mailed to home addresses.
Sept. 23: Retirees Health Fair at Ypsilanti Marriott at Eagle Crest.
Oct.10-21Open Enrollment period: Faculty and staff should make any desired changes to their benefits by 7 p.m. Oct. 21.
Jan. 1: New benefit elections and rates take effect.
Medical Plan Navigator
The Medical Plan Navigator allows users to view side-by-side comparison charts of the plans. The navigator does not make recommendations, but it is a helpful tool for narrowing focus by searching for available plans by zip code of residence (HMO service area) or by certain plan features, like well child care or vision coverage. Faculty and staff can access the navigator at: http://www.umich.edu/~benefits/events/oe/index.htm.
For more information
Web: To view plan information and 2006 rates for all benefits plans see: http://www.umich.edu/~benefits.
E-mail: To reach a benefits representative contact: firstname.lastname@example.org.
Phone: To consult with HR/Payroll Service Center staff, call 615-2000 (campus), (734) 615-2000 (local or off-campus), or (866) 647-7657 (toll-free for off-campus, long-distance calling).
University Record: Watch for further details as Open Enrollment nears.