Illinois Tech’s annual open enrollment period for benefits will run from Tuesday, November 1, 2022, through Tuesday, November 15, 2022. Changes made during Open Enrollment become effective January 1, 2023. You’re encouraged you to attend a live informational session to learn about benefit changes for 2023, watch the livestream of the first presentation, or watch the recording of the first session that will be posted on the HR website’s benefits page following the presentation.
Important information, dates, and times to keep in mind can be found below with detailed directions:
- Open enrollment for medical insurance, health savings accounts, dental insurance, and vision insurance is done through Banner self-service (via the MyIIT portal)
- Open enrollment for health and dependent care flexible spending accounts is done through WageWorks (wageworks.com)
- Open enrollment for life insurance for yourself and eligible members can be done by contacting me directly
- The Banner open enrollment tool will be open for selections until 11:59 p.m. on November 15, 2022
- WageWorks will be open for selections until 10:59 p.m. on November 15, 2022 (they close one hour early due to different time zones)
- Team members from the Office of Human Resources will be available on November 15, 2022, to answer any of your questions until 5:00 p.m. CST
Open Enrollment is the one time of year when benefits-eligible employees can change plans, add or drop coverage, and/or add or drop eligible dependents, unless a qualifying Life Status Changing Event has taken place (examples of qualifying Life Status Changing Events throughout the year include, but are not limited, to birth/adoption of a child, loss of benefits coverage external from the university, change in marital status, etc).
Read on to discover more about what’s available to you and your families for 2023. You can also click here for our 2023 Benefits Guide.
We are pleased to again offer flu shots on-site and will be offering the new bivalent COVID-19 booster shots at the same event. We will also be continuing our Wellness Wednesday series each Wednesday at noon through November 16; these events are hosted by Lifeworks Employee Assistance Program. Finally, we have two dates for virtual one-on-one retirement planning sessions with TIAA and Fidelity, as well as a financial wellness presentation by PNC Bank.
- Flu Shot and COVID-19 Booster Event: Thursday, November 10, from 11 a.m.–1 p.m. in the HR Training Room on the 13th Floor of the Michael Paul Galvin Tower. You MUST register no later than 11 a.m. on November 8. Reserve your space by signing up online.
- Wellness Wednesdays hosted by the Lifeworks Employee Assistance Program: Wednesdays through November 16 at noon. Click here for more information, including how to sign up. All sessions in the series will be available for viewing for two months beyond the session date, and will be posted on the HR portal’s EAP page.
- One-on-One Retirement Planning Sessions: October 31 (Fidelity), November 1 (TIAA), and November 29 (Fidelity). Virtual sessions are available all day on each date. Click here for more information, including how to reserve your session.
- Teaching Kids Smart Money Choices: November 15 at noon. Click here for more information, including how to register. Presented by PNC Bank, Illinois Tech’s business banking partner.
OPEN ENROLLMENT INFORMATIONAL SESSIONSWe are returning to in-person benefit presentations. The first session will also be livestreamed, as well as recorded and posted on the HR website’s Benefits page for on-demand viewing throughout Open Enrollment and beyond. Live sessions will be held as follows:
- Tuesday, November 1, at 1 p.m. in the HR Training Room on the 13th floor of the Michael Paul Galvin Tower; it is also available for viewing live by clicking here
- Thursday, November 3, at 9 a.m. in Conviser Law Center room CK C40
- Monday, November 7, at 11 a.m. in the HR Training Room on the 13th floor of Galvin Tower
- Wednesday, November 9, at 3 p.m. in Conviser Law Center room CK C25
Those who wish to discuss individual concerns are encouraged to email me at firstname.lastname@example.org to schedule a virtual appointment.
A benefit resources page is available: Do you need benefits information broken down, or don’t know the difference between PPOs, HDHPs, HSAs, FSAs, or DHMOs? A series of short videos on the HR portal’s Benefit Resources page are now available to help. Videos cover the basics of all of our benefits plans, and most are three minutes in length or less!
Changes for medical, dental, and vision benefits must be made online through Banner self-service, accessible through your MyIIT portal. Click here for instructions on how to make changes in Banner Self Service. You can also view a short, 14-minute video on how to make changes by clicking here (passcode: =D9xhS9.—please note the password ends with a period). Individuals making changes are strongly encouraged to contact Anjuli Rabindranath at email@example.com or x73398 or myself at x73353 or firstname.lastname@example.org to verify changes have been successful. If you are not making changes, no action is required.
In Case You Missed It: New in 2022
CEREBRAL VIRTUAL MENTAL HEALTH CARE SERVICE
Launched on October 1, 2022, Cerebral is now available as part of the BCBS Medical Plan for employees and their dependents ages 18 and over. Cerebral makes it easy to access digital tools or connect with a provider via telehealth and direct messaging, and their personalized approach ensures that you’ll get the treatment pathway that’s right for you. For complete information, please see the flier on the HR website’s Health Benefits page, under plan enhancements.
2023 CONTINUING BENEFITS
We were able to keep BCBS premiums the same (no increase) going into 2023, but we are moving to a tiered network approach. Additionally, we are adding out-of-network benefits for the PPO option. Dental and vision premiums are also staying the same (no increases) going into 2023.
MEDICAL—BLUE CROSS BLUE SHIELD
- There will be no rate changes for either plan.
- We are moving to a tiered network approach for both plan options. Full details are available on the HR website’s Health Benefits page.
- Tier 1: Blue Choice Options PPO/HDHP will offer the same copays, deductibles, coinsurance, and out-of-pocket maximums as the current plans.
- Tier 2: Those choosing this broader network for either plan option will experience higher copays, deductibles, coinsurance, and out-of-pocket maximums.
- Out-of-network coverage for non-emergencies is new to the PPO plan.
- For HDHP members, the Health Savings Account (HSA) maximum limits increase.
- The combined IRS maximums for HSA accounts will increase to $3,850 for single and $7,750 for family coverage in 2023, plus an additional $1,000 in catch-up contributions allowed for those 55 and over.
- Illinois Tech will continue to contribute to HSAs for HDHP members at the rate of $500 for single, $1,000 for self plus one, and $1,500 for family level plans for the 2023 plan year. Illinois Tech contributions are prorated monthly, with contributions deposited at the end of each month.
- On the fence about the HDHP? Try this HSA vs PPO Calculator to see which plan might work best for you. There are also in-depth videos on the Benefit Resources page.
- All members continue to have access to Blue Value Advisor (BVA) and Member Rewards. BVA is a price-comparison service; Member Rewards pays a cash incentive when you use a more cost-effective option.
- The Hinge Health joint pain management program will continue. Visit the HR website’s Health Benefits page for additional information.
- The Livongo diabetes and hypertension management program will continue. Visit the HR website’s Health Benefits page for additional information.
- The MD Live Virtual Visits program will also continue.
For complete information on both plans, including plan summaries and rates, please visit the HR website’s Health Benefits page.
There will be no changes to the Delta Dental plan offerings. For complete information on both plans including plan summaries and rates, please visit the HR website’s Dental Benefits page.
There will be no changes to the EyeMed Vision plan. For complete information, including a summary and rates, please visit the HR website’s Vision Benefits page.
SUPPLEMENTAL LIFE/AD&D INSURANCE—BCBS ANCILLARY
(formerly Dearborn National)
There will be no changes to these plans; however, BCBS Ancillary will allow those covered at one time their annual salary in supplemental life coverage to increase to two times their annual salary without Evidence of Insurability (EOI, or medical underwriting). Revisions for self, spouse, and/or dependent children must be submitted to HR via the enrollment form on the HR website’s Supplemental Life page by 5 p.m. on Tuesday, November 15.
HEALTH AND DEPENDENT CARE FLEXIBLE SPENDING, AND PRE-TAX COMMUTER PROGRAMS—WAGEWORKS/HEALTH EQUITY
More information on these plans can be found on the HR website’s Flexible Spending and Commuter Program pages.
- Flexible Spending—Your 2022 selections do NOT carry forward. If you wish to continue health and/or dependent daycare flexible spending, you MUST re-enroll for the 2023 plan year at wageworks.com. WageWorks closes for open enrollment at 11 p.m. CST on November 15. The annual maximums for 2023 are:
- Healthcare Flexible Spending: $3,050 per year per individual (increase from 2022)
- Dependent Care Flexible Spending: $5,000 per year per household (no change)
- Please note that HDHP health plan members may only open a Limited Purpose FSA, allowing funds to be used only for dental and vision expenses. HDHP members should select “HSA-Compatible” when making their 2023 FSA election. All others should select “standard coverage.”
- Illinois Tech utilizes the WageWorks online enrollment tool for Flexible Spending Accounts, available at wageworks.com. Once you log onto the WageWorks website, simply follow the prompts for Open Enrollment. If you do not remember your username or password, you can utilize the “Forgot” link and follow the steps for username or password recovery. If you continue to experience difficulty, please contact WageWorks customer service at 877.924.3967, as Illinois Tech does not have access to this information.
- Pre-Tax Commuter Program—There will be no changes to the current plan, but monthly IRS limits are increasing from $280 to $300 for both transit and parking pre-tax selections. Pre-tax commuter selections can be used for transit passes and off-campus parking, and may be made at any time during the year (not limited to Open Enrollment). Orders are due by 10:59 p.m. EST on the 10th of the month for the following benefit month (i.e., December orders are due by 10:59 p.m. EST on Tuesday, November 10).
403(B) RETIREMENT PLAN—TIAA and FIDELITY
There will be no changes to the current plan. If you are not currently participating in the 403(b) plan and/or receiving the employer match and have met the eligibility requirements listed below, now is a good time to enroll. The university contribution begins at 5 percent of the annual base salary with no employee contribution and it caps at 9 percent, with a 4 percent employee contribution. If you are not yet match-eligible, please consider participating on an unmatched basis by setting up your contribution in Banner Self-Service and enrolling with TIAA and/or Fidelity. Additional information can be found on the HR website’s Retirement Plan page.The IRS has announced increases to contribution limits for 403(b) plans. The new maximum is $22,500 per year for participants under age 50, and $30,000 per year for those age 50 or over ($22,500 plus $7,500 in catch-up contributions). Those who are currently contributing to the IRS maximum will see their contribution rates adjusted automatically with their first paycheck in 2023.
If you wish to contribute the IRS maximum to the 403(b) plan and did not do so in 2022, you will need to complete a new Salary Reduction Agreement form for 2023. Salary Reduction Agreement forms are available in PDF format on the website, or in electronic format via Employee Records. Please contact HR if you have trouble accessing the electronic version of the form.
You may change your 403(b) contributions at any time during the year. Most changes can be made via Banner Self-Service; however, those electing the match for the first time must complete a Salary Reduction Agreement form. Please note that the match is NOT automatic. You are responsible for enrolling or updating your selection when you become match-eligible. You must complete a Salary Reduction Agreement form when selecting the match for the first time.
|Two years of service
|One year of service
EMPLOYEE ASSISTANCE PROGRAM—LIFEWORKS
There will be no changes to the current plan. Lifeworks remains Illinois Tech’s Employee Assistance Program. This program provides employees and their families voluntary, confidential, and free access to short-term counseling, with operators available 24/7, 365 days a year. Online resources and toolkits cover a wide range of topics that include emotional, physical, and financial well-being, as well as work-life issues. Log in for access to articles and videos, and to access discounts. The phone number, website, and username/password information can be found on the HR portal’s Employee Assistance Program page.
TUITION ASSISTANCE PROGRAMS
There will be no changes to the current offerings. Illinois Tech continues to offer various tuition benefits to benefits-eligible employees and their families. For more information on these benefits and to apply, please visit the HR website’s Tuition Assistance page.
We are pleased to be able to offer preferred pricing on pet insurance through Nationwide. These plans include both medical and wellness options, and reimburse up to 90 percent for veterinary bills including accidents, illnesses, and other conditions. Those interested can enroll or cancel at any time directly through Nationwide. For complete information, including a summary, FAQs, and information on how to access this benefit can be found on the HR portal’s Pet Insurance Benefits page.
PERKSPOT—PERKS AND DISCOUNTS
Illinois Tech is pleased to offer this program, which offers thousands of perks and discounts. From travel to cell phones and from steaming services to groceries, there are more than 30,000 national and local offers available through Perkspot. This benefit even provides preferred pricing for home and auto plans, as well as legal insurance plans. For more information and how to register, please visit the HR portal’s Perks and Discounts page.
If you have questions regarding Open Enrollment, please reach out to Viktoria Rill at x7-3353 (312.567.3353) or via email at email@example.com.