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 qualifying Life Status Changing Event takes place.
This year, a pre-recorded benefits overview presentation is available now for on-demand viewing. This presentation covers not only what’s new for 2021, but also an in-depth overview of all benefit options available to you and your families.
Human Resources will host live informational sessions to cover highlights for 2021 and allow for questions in a group setting. The schedule is below, and you can sign up for the group session most convenient for you using this Google Form.
- Monday, November 2 at Noon
- Wednesday, November 4 at 2 p.m.
- Friday, November 6 at 10 a.m.
- Tuesday, November 10 at 10 a.m.
- Thursday, November 12 at 1 p.m.
Need very general overview information or don’t know the difference between PPOs, HDHPs, HSAs, FSAs, or DHMOs? A series of short videos on the new Benefit Resources HR Portal 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! New videos added this year featuring HSA Bank, IIT’s HSA vendor.
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. Individuals making changes are strongly encouraged to contact Anjuli Rabindranath at arabindr@iit.edu or x73398, Viktoria Rill at x73353 or vrill@iit.edu, to verify changes have been successful. If you are not making changes, no action is required.
2021 NEW BENEFITS AND OFFERS
PET INSURANCE – NATIONWIDE
This year 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% 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 Pet Insurance Benefits page.
PERKSPOT – PERKS AND DISCOUNTS
Brand new starting on November 1, 2020, Illinois Tech is pleased to offer a brand new program with thousands of perks and discounts. From travel to cell phones, steaming services to groceries, there are over 30,000 national and local offers available through Perkspot. This benefit even provides preferred pricing for home and auto, and legal insurance plans. For more information and how to register, please visit the HR Portal Perks and Discounts page.
SUPPLEMENTAL LIFE/AD&D INSURANCE – BCBS ANCILLARY
(formerly Dearborn National)
There will be no changes to these plans; however, BCBS Ancillary will be accepting new supplemental life participants enrolling at one times their annual salary in coverage without Evidence of Insurability (medical underwriting). Please see below for more information on how to enroll.
2021 CONTINUING BENEFITS
MEDICAL – BLUE CROSS BLUE SHIELD
- Unfortunately, this year both plans do have a monthly increase. However, the university will cover the entire cost of employee increases through at least May 31, 2021. An additional communication will be sent prior to employees seeing the increase. The amount of the increase varies for each employee, depending on plan, salary, and tier of coverage, and that information is now available on the HR Portal.
- There will be no changes to the structure of either the In Network Only PPO or HDHP.
- For HDHP members, the Health Savings Account (HSA) maximum limits increase.
- The combined IRS maximums for HSA accounts will increase to $3,600 for single and $7,200 for family coverage in 2021, 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+1, and $1,500 for family-level plans for the 2020 plan year. IIT 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.
- 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.
- Naturally Slim sessions continue. Visit the HR Portal Health Benefits page for sessions and registration information.
- NEW FOR 2021: Prudent Rx for certain specialty medications
- NEW FOR 2021: Hinge Health
- NEW in 2020: Livongo diabetes and hypertension management
- NEW in 2020: MD Live Virtual Visits
DENTAL – DELTA DENTAL
- No rate increases or plan design changes for either plan.
- PPO members may begin using carryover dollars in 2021.
There will be no changes to the EyeMed Vision plan. 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).
SUPPLEMENTAL LIFE/AD&D INSURANCE – BCBS ANCILLARY
(formerly Dearborn National)
There will be no changes to these plans; however, BCBS Ancillary will be accepting new participants enrolling at one times their annual in salary in supplemental life coverage without Evidence of Insurability (EOI, or medical underwriting), and will again be offering employees with one times their annual salary in supplemental life coverage the opportunity to increase to two times their annual salary without going through the EOI process. Revisions for self, spouse, and/or dependent children must be submitted to HR via the forms on the HR Portal Supplemental Life page by 5 p.m. on Friday, November 13.
HEALTH AND DEPENDENT CARE FLEXIBLE SPENDING, AND PRE-TAX COMMUTER PROGRAMS – WAGEWORKS/HEALTH EQUITY
- Flexible Spending—2020 elections do NOT carry forward. If you wish to continue health and/or dependent daycare flexible spending, you MUST re-enroll for the 2021 plan year at www.wageworks.com. WageWorks closes for open enrollment at 11pm CST on November 13. The IRS has not announced an increase to the annual maximum election amounts for Flexible Spending Programs. They remain at:
- Healthcare Flexible Spending: $2,750 per year per individual
- Dependent Care Flexible Spending: $5,000 per year per household
- 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 “FSA-Compatible” when making their 2021 FSA election. All others should select “standard coverage.”
- Illinois Tech utilizes the WageWorks online enrollment tool for Flexible Spending Accounts, available at www.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. Pre-tax commuter (transit and parking) elections may be made at any time during the year and are not limited to Open Enrollment. WageWorks elections can be used for transit passes and parking, and are now compatible with uberPOOL, Lyft Link, and SpotHero. Orders are due by 10:59 pm EST on the 10th of the month for the following benefit month (i.e., December orders are due by 10:59 pm EST on Tuesday, November 10). The IRS has announced no increase to monthly maximum amounts for pre-tax transit and parking elections, therefore they remain at $270 per month.
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% of the annual base salary with no employee contribution and it caps at 9% with a 4% employee contribution (note: the up to additional 4% contribution is currently suspended through May 31, 2021). 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 including the form can be found on the HR Portal Retirement Plan page.
The IRS has announced that contribution limits to 403(b) plans will remain the same for 2021. Participants under age 50 may contribute $19,500 per year and participants 50 and above may contribute $26,000 per year. If you wish to contribute the IRS maximum to the 403(b) plan and did not do so in 2020, you will need to complete a new Salary Reduction Agreement form for 2021.
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 election when you become match-eligible. You must complete a Salary Reduction Agreement form when electing the match for the first time.
| 403(b) | Matched Contribution | Unmatched Contribution |
|---|---|---|
| Staff | Two years of service | Immediate |
| Faculty | One year of service | Immediate |
EMPLOYEE ASSISTANCE PROGRAM – LIFEWORKS
There will be no changes to the current plan. Lifeworks remains as 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 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 Portal Tuition Assistance page.
If you have questions regarding Open Enrollment, please contact Viktoria Rill at x7-3353 (312.567.3353) or via email at vrill@iit.edu.