Now that the new year is upon us, it’s important to review some timely benefit news and information.
State Health Plan Open Enrollment
- Any benefit elections you made during Open Enrollment for the State Health Plan were effective on January 1, 2019. Remember to review your most recent paycheck to ensure that the plan you elected is reflected with the corresponding deductions. Deductions for health care are withheld one month in advance of the coverage effective date (December deductions pay for January coverage).
- All members should have received a new State Health Plan ID card. For members enrolled in the 80/20 Plan or the 70/30 Plan, the new card has been redesigned to provide greater transparency about their benefits as well as better descriptions of services and required copay amounts. Call 855-859-0966 to request a new card.
CVS Tobacco Cessation Voucher Reminder
All CVS Tobacco Cessation Vouchers to subscribers have been mailed. Subscribes who indicated during Open Enrollment that they were tobacco users, but willing to participate in tobacco cessation counseling must visit a CVS MinuteClinic to complete at least one tobacco cessation counseling session before January 31, 2019, to keep their premium credit.
Subscribers must bring the voucher to each session and present their State Health Plan ID card in order for the visit to be covered at 100% by the Plan. If the subscriber loses their voucher or did not receive, they must contact CVS Caremark at 888-321-3124 to have the voucher re-issued.
Any employees that do not live or work within 25 miles of a CVS MinuteClinic will need to have contact their HR Benefits consultant before January 28, 2019 to have an enrollment exception completed for them by January 31, 2019.
NCFlex and University Benefit Changes
- Any benefit elections you made during annual enrollment for NCFlex and the University benefit programs were effective January 1, 2019. Remember to review your paycheck (Jan. 5 for biweekly paid employees and Jan. 31 for monthly paid employees) to ensure that the programs you elected are reflected with the corresponding deductions.
Please read the information pertaining to the specific plans listed in this update as it may impact your paycheck if you are enrolled in the benefit program referenced. The notation in parentheses next to each benefit program is how the benefit deduction will appear on your paycheck.
Group Term Life Insurance (MetLife)
- If you are enrolled in the University MetLife plan, you may see a change in your deductions beginning with your January paycheck. Premium adjustments are made based on your age and salary as of December 31, 2018.
Group Term Life Insurance (VOYA)
- If you are enrolled in this NCFlex plan through Voya Financial, you may see a change in your deduction beginning with your January paycheck. Adjustments to your premium are made based on your age and salary as of January 1, 2019.
Critical Illness (Allstate)
- If you are enrolled in this NCFlex plan through Allstate Benefits, you may see a change in your deduction beginning with your January paycheck. Adjustments to your premium are made based on your age as of January 1, 2019.
Health Care Flexible Spending Account
- For the 2019 plan year, health care expenses must be incurred January 1 through December 31, 2019, to be eligible for reimbursement. You have until April 30, 2020, to submit claims for reimbursement. You can rollover up to $500 of unused account balances into the next plan year, as long as you have a minimum balance of at least $25. Any funds exceeding this amount will be forfeited. The rollover will not count toward the following year’s maximum election amount (currently $2,650 for 2019). This rollover feature only applies to the Health Care Flexible Spending Account.
When will the roll-over occur?
- The rollover will occur as of January 2019.
When will the FAQs be available on the NCFlex website?
- The FAQs are online under the following link: https://oshr.nc.gov/state-employee-resources/benefits/ncflex/fsa
Please confirm the administration of the rollover dollars.
- The 2018 rollover funds will not be combined with the 2019 funds until May 2019. This is to allow employees to submit claims for prior year expenses until April 30, 2019.
Will prior year roll over funds expire?
- No. As long as the employee is actively working, the prior year funds will carry over to future years.
Dependent Day Care Flexible Spending Accounts
For the 2019 plan year, dependent day care expenses must be incurred January 1, 2019, through March 15, 2020, to be eligible for reimbursement. You have until April 30, 2020, to submit claims for reimbursement. Any unused funds will be forfeited.
Supplemental Retirement Plan Limits for 2019
Supplemental Retirement Plan contribution limits will increase in 2019.
- The limit on contributions to a 403(b)/401(k) plan for 2019 is $19,000. If you are over the age of 50, or will turn 50 by Dec. 31, 2019, you are eligible for an additional $6,000 catch-up contribution.
- The limit on contributions to a 457(b) plan for 2019 is also $19,000. If you are over the age of 50, or will turn 50 by Dec. 31, 2019, you are eligible for an additional $6,000 catch-up contribution.
Employee contributions to a 403(b) and 401(k) plan are combined together when determining your maximum contribution; however, employees can maximize saving opportunities by contributing to a 457(b) plan. Amounts contributed to a 457(b) plan are not combined with your 403(b) and/or 401(k) contributions when determining your maximum contribution limit.
Under the Affordable Care Act (ACA), you are required to indicate if you have qualifying medical coverage when you complete your tax return. You will receive a Form 1095-C which includes information about the health coverage offered to you by the University. The form will be mailed to your home address at the end of January. You will not need to attach or file your Form 1095-C with your 2018 Federal income tax return; however, you may need to use its information when you complete your tax return.
Please contact your Benefits Consultant if you need assistance or have questions about the benefit plans you have enrolled in.