Open Enrollment for 2016 benefits coming soon

August 24, 2015  //  FOUND IN: Announcements, Updates & Resources,

Open Enrollment is October 26 – November 6, 2015. This is the time for faculty, staff and retirees to review their current benefits and make changes to their coverage for 2016.

No action is required to keep your current benefits coverage in 2016, unless you want to enroll in a Flexible Spending Account (FSA). Internal Revenue Service rules require annual enrollment to participate in an FSA.

Watch for future communications from the Benefits Office with Open Enrollment details. To help you plan, here is an overview of benefits changes for 2016.

Life Insurance Coverage Increases

Optional Life Insurance Plan Coverage Increases
Under the current Optional Life Insurance Plan, you can elect coverage of one to six times your annual salary. For 2016, the coverage choices will increase to eight times your salary up to the new plan maximum of $1.5 million.

Special Opportunity to Enroll in Optional Life or Increase Your Coverage
Life insurance is usually not included in Open Enrollment and eligible faculty and staff can enroll at any time with approval based on a statement of good health. Because of the coverage changes, the university is offering a special one-time opportunity. Faculty and staff who want to enroll in the university’s Optional Life Insurance Plan or increase their coverage can do so during this year’s Open Enrollment without providing a health statement for limited coverage increases. View your Optional Life Insurance Plan choices that will not require a health statement during Open Enrollment.

Added Coverage Level for Dependent Life Insurance
A new $100,000 coverage option for your spouse or other qualified adult will be added to the Dependent Life Insurance Plan.

Identity Protection Services Added to the Legal Services Plan
The university’s Legal Services Plan will add identity protection services for plan members, including identity management services, resolution services for help in recovering from identity theft, credit monitoring services, and more.

Increased Contribution Limit for Health Care Flexible Spending Accounts
The annual amount eligible faculty and staff can contribute to a Health Care Flexible Spending Account will increase to $2,550.

Learn more about Open Enrollment and the 2016 plan changes.

2016 Benefits Plan Rates Available Now
To view your rates, log in to Wolverine Access and select Display Benefits Plan Rates under Benefits on the Self Service page. Your current rates are displayed at the top; scroll down to view your 2016 rates.

Resources

  • For benefits information: University Human Resources
  • Frequently asked benefits questions: Ask HR
  • For questions about your benefits or Open Enrollment, call the Shared Services Center (SSC) HR Contact Center at 5-2000 (Ann Arbor campus), 734-615-2000 (local or off-campus), or 866-647-7657 (toll-free) Monday – Friday, 8 a.m. – 5 p.m.

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