|
Employees have the opportunity to review and/or make changes through the open enrollment online system to the following items: health coverage, dental coverage, vision coverage, flexible spending account(s), voluntary accidental death insurance coverage, voluntary life insurance coverage, and charitable giving for the 2010 year. The open enrollment period ends at 5 p.m. Saturday, Oct. 31.
Employees choosing to enroll in the High Deductible Health Plan (HDHP) with the HSA must spend all money in their 2009 general purpose medical flexible spending accounts prior to Dec. 31, 2009, to ensure they are eligible to receive and/or make contributions to their HSA in January 2010.
Now available on MyHumana is an enrollment wizard tool to assist employees in estimating health expenses when reviewing the two health plan options (Traditional PPO and the High Deductible Health Plan). To access the wizard tool, go to www.humana.com and log in to MyHumana (you will need to register for an account if you haven’t already done so). Once in MyHumana, click on “Enrollment Center” in the bottom half of the page. This opens the “My Benefits Planner.”
Health Savings Account 2010 limits
The Health Savings Account (HSA) annual contribution limits for 2010 have increased. For single coverage, the annual limit is $3,050 and the family limit is $6,150. Employees age 55 and older are eligible for an annual catch up contribution of $1,000. Please note that employer contributions are included in the annual limits noted above. This is an annual limit for 2010 only; this does not include any money currently in your HSA in 2009. Those employees wanting to contribute to their Health Savings Accounts in 2010, need to complete open enrollment through BannerWeb, otherwise the contribution amounts will default to zero (0). A Health Savings Account contribution can be changed at any time during the year by completing an HSA Change Form found on the benefit services Web site at www.muohio.edu/benefits.
Tax Deferred Annuities (403(b)) and 457 Plans
The 2009 annual contribution limits are as follows:
- $16,500 if you are under 50 years of age as of Dec. 31, 2009
- $22,000 if you are 50 years of age or older by Dec. 31, 2009
To change a "per pay" contribution amount please contact your vendor and complete a new salary reduction agreement. Employees are eligible to participate in both a 403(b) and 457 plan, the contribution limits are separate for each plan.
|
