Open Enrollment For Benefits Ends November 21

The open enrollment period for benefits effective Monday, January 1, 2018 began on November 1, 2017, and ends at 3 p.m. on Tuesday, November 21, 2017. Open Enrollment is the only chance benefits-eligible employees have to change plans, add or drop coverage, and/or add or drop eligible dependents, unless a Life Status Changing Event takes place. Changes made during Open Enrollment become effective January 1, 2018.

2018 Plan Highlights and Changes

  • No increase to premiums for HDHP health plan members
  • 4% premium increase for In-Network Only PPO members<
  • Illinois Tech’s contribution to Health Savings Accounts (HSAs): Illinois Tech will contribute $500 to single, $1,000 to self+1, and $1,500 to family-level plans for HDHP members for the 2018 plan year. HSAs are available only to members of the HDHP.
  • Benefits Value Advisor price comparison service and Member Rewards program for all health plan members
  • Naturally Slim program for BCBS members beginning January 2018
  • Dental PPO enhancements

Open Enrollment Events

  • Free biometric screening health checkups and flu shots will be available to faculty and staff covered under Illinois Tech’s health plans* on Tuesday, November 7 and Friday, November 10 at Mies Campus. Registration is required. Click here to register. *This requirement is for billing purposes only. Illinois Tech does not receive individuals’ medical information.
  • Online Open Enrollment will again be used for medical, dental, and vision benefits. For instructions and Frequently Asked Questions, please click here.
  • If you are not making changes to your current medical, dental, and vision elections, you do not need to take any action. Your current elections will roll into 2018.
  • If you are interested in health and/or dependent day care flexible spending, you MUST re-enroll for the 2018 plan year at www.wageworks.com. Current 2017 health and/or dependent daycare flexible spending elections will not continue in 2018.

All changes must be made in Banner Self-Service and all completed forms for new Life/AD&D elections must be submitted to the Office of Human Resources by 3 p.m. on Tuesday, November 21, 2017. If you have any questions regarding open enrollment, please contact Viktoria Rill at 312.567.3353 or vrill@iit.edu

Open Enrollment Meetings

Please note that the Tuesday, November 14 session will be live-streamed and recorded for future viewing. Check the HR Portal Benefits page for a link following the presentation.

Day/Date Location Time
November 2 IIT Tower Auditorium 9–10:30 a.m.
Tuesday, November 7 Downtown Campus CK 520 Noon–1:30 p.m.
Wednesday, November 8 MTCC Ballroom 9–10:30 a.m.
November 14 MTCC Auditorium Noon–1:30 p.m.
Wednesday, November 15 Downtown Campus CK 520 3–4:30 p.m.
Monday, November 20 MTCC Auditorium 1–2:30 p.m.

2018 Benefits Summary

  • Medical: No coverage changes to our current In-Network PPO or HDHP plans, adding Benefits Value Advisor and Member Rewards
    • PPO rate increase effective January 1, 2018
    • No rate increase for HDHP; Illinois Tech contributing to Health Savings Accounts for HDHP members
    • Naturally Slim program beginning January 2018
  • Dental: Enhancements to PPO plan; no changes to the current DHMO plan
  • Vision: No changes to our current plan
  • Life Insurance: No changes to our current plan (paper enrollment/changes only)
  • Flexible Spending: You must re-enroll (2017 elections do not carry forward) at www.wageworks.com

Blue Cross Blue Shield—Medical Insurance

There are no changes to plan designs for either plan. PPO members will experience a 4% increase in premiums. HDHP members’ premiums will not increase.

Illinois Tech will contribute to Health Savings Accounts (HSAs) for HDHP members at the rate of $500 for single, $1,000 for self+1, and $1,500 for family level plans for the 2018 plan year. Only HDHP members may open HSAs. New HDHP members, or HDHP members without existing accounts, will be enrolled in an HSA account with HSA Bank.

All members will have access to Benefits Value Advisor (BVA) and Member Rewards. BVA is a price comparison service, and Member Rewards pays a cash incentive when you use a more cost-effective option. For additional information click here for BVA and here for Member Rewards.

In January 2018 we are introducing Naturally Slim, BCBS’ mindful eating weight loss program. For more information and/or to be included in the first session, please click here.

For complete information on both plans including plan summaries and rates, please visit the HR Portal Health Benefits page (or connect through myIIT, Work tab, HR Announcements box).

Changes to your health plan, including changing plans, changing tiers, and adding or dropping dependents, should be made online through myIIT (on the Work tab, click on Benefits in the Employment Details box).

Delta Dental—Dental Insurance

There are no changes to the DHMO plan. The PPO is being enhanced to add coverage for non-cosmetic implants, posterior composites, and 100% preventive care out of network. PPO members will experience a premium increase of approximately 15%.

For complete information on both plans including plan summaries and rates, please visit the HR Portal Dental Benefits page (or connect through myIIT, Work tab, HR Announcements box).

Changes to your dental plan, including changing plans, changing tiers, and adding or dropping dependents, should be made online through myIIT (on the Work tab, click on Benefits in the Employment Details box).

EyeMed—Vision Insurance

There are no changes to the vision plan. Rates are not increasing. For complete information including a summary and rates, please visit the HR Portal Vision Benefits page (or connect through myIIT, Work tab, HR Announcements box).

Changes to your vision plan, including changing plans, changing tiers, and adding or dropping dependents, should be made online through myIIT (on the Work tab, click on Benefits in the Employment Details box).

Dearborn National—Voluntary Life Insurance

Changes to voluntary life, including enrolling in, increasing, or decreasing coverage for self, spouse, and/or dependent children, should be submitted to HR via the forms below.

Dearborn National Voluntary Life Insurance Benefits Summary 2017

Dearborn National Voluntary Life Insurance Enrollment Form

Dearborn National Evidence of Insurability Form

For complete information including a summary and rates, please visit the HR Portal Supplemental Life page (or connect through myIIT, Work tab, HR Announcements box).

Flexible Spending

Illinois Tech utilizes the WageWorks Online Enrollment tool. If you have never registered for WageWorks please email Viktoria Rill at vrill@iit.edu. If you are a returning participant you will log onto the WageWorks website with your current username and password. If you do not remember your username or password you can click the “Forgot user name or password” link and follow the steps to obtain your username and create a new password. If you continue to experience difficulty please contact WageWorks customer service at 877.924.3967.

**Remember: If you wish to participate in the health and/or dependent day care FSA plans for 2018, you must make an active election into the plan. Your 2017 elections do not carry over to 2018.**

  • Health Care FSA 2018: $2,650 maximum
  • Dependent Care FSA 2018: $4,000 maximum

HDHP health plan members may use FSA funds for dental and vision expenses only, and should select “HSA-Compatible” when making their 2018 election.

Commuter elections may be changed at any time during the year. Orders are due by 10:50 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 November 10).

Link to www.wageworks.com.

403(b) Retirement Plan

If you are not currently participating in the 403(b) plan and/or receiving the employer match and you have met the eligibility requirements as listed below, now is a good time to enroll. The university contribution begins at 5% of the annual base salary with no employee contribution and it ends at 9% with a 4% employee contribution. If you are not currently enrolled, please consider investing in your retirement by completing the Salary Reduction Agreement form linked below to start your contributions.

Participants under age 50 may contribute $18,500 per year (up from 18,000 in 2017) and participants 50 and above may contribute an additional $6,000 for a total of $24,500 per year. If you wish to contribute the IRS maximum to the 403(b) plan and did not do so in 2017, you will need to complete a new Salary Reduction Agreement form for 2018.

You may change your 403(b) contributions at any time during the year.

Matched Contribution Unmatched Contribution
Staff Two years of service Immediate
Faculty One year of service Immediate

 

For additional information, including vendor contact information, the Salary Reduction Agreement form, and additional resources, please visit the HR Portal Retirement page (or connect through myIIT, Work tab, HR Announcements box).