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Both the Phased Retirement and Terminal Agreement policies have been updated to provide a deposit to the State of Minnesota Health Care Savings Plan at the end of employment, effective December 1, 2014.
These changes impact eligible tenured faculty and continuous appointment professional and administrative staff, including those in the Faculty Retirement Plan. Employees represented by Unit 9 (University Education Association) contract in Duluth are excluded from these changes.
Starting on October 1, 2015, you begin earning wellness points toward saving either $400 or $600 on your 2017 UPlan medical rates, depending on your tier of coverage. You have until August 31, 2016, to earn enough points for a full reward.
You and your covered spouse can each earn 150 wellness points when you take the wellness assessment by March 31, 2016.
Knowing that wellness has a different meaning to everyone, many types of programs are offered to reward employees for focusing on their health. Get started.
Open Enrollment starts on November 1 and ends on November 30. There are no plan changes for 2016 and no rate increase for the medical plans. In fact, if you earned your 400 or 600 wellness points, your 2016 medical rates will end up being lower than the rates for 2015.
You don’t need to enroll during Open Enrollment if you have a medical or dental plan that works for you and your family and you want to keep it. But you do need to enroll during Open Enrollment if you have a health care or dependent daycare flexible spending account and want the account again in 2016.
You can also change to a different medical or dental plan; add or cancel dependents; enroll in short- or long-term disability, or add child life insurance.
Learn more about Open Enrollment in the recent newsletter and watch for another edition with all of the Open Enrollment information at the end of October.
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