Open Enrollment
On behalf of the Benefits team, we’d like to thank all employees for participating in the required online open enrollment pilot. With the help of the community, we have successfully completed the process and gained a lot of valuable information about a future migration to a new HR Information System. Employees can still leave their anonymous feedback on the experience using this form. It should only take a couple of minutes to complete.
New Anthem ID Cards
As part of the Ohio Surprise Billing Law, all health plans in Ohio are required to provide new ID cards to participants in 2023. You will receive your new ID card in an unmarked white envelope around the end of December to early January. No member or group ID numbers have changed.
Support for Your Mental Health this Holiday Season
Feeling stressed from the holiday rush? As you navigate the best ways to travel, safely socialize, and celebrate during the holiday season, remember to also take care of yourself. Here are some free evidence-based resources you can use this holiday season.
Student Loan Assistance
Denison is excited to partner with SAVI, a company focused on reducing the headache surrounding public student debt relief. SAVI can also help you adjust your student loan payment options to meet your needs and save you money. Learn more about how SAVI can help with your student debt.
Reporting of Social Security Numbers for Dependents
The Affordable Care Act’s (ACA) individual shared responsibility provision requires that Denison report to the Internal Revenue Service (IRS) information about our 2022 Anthem medical plan participants and their eligible dependents who are covered by medical insurance. Data that the IRS requires includes Social Security number, date of birth, and the name of your dependents covered under the plan in 2022.
The IRS requires that three attempts be made to collect this information from you. Open Enrollment was the first attempt. This notice is the second attempt.
We are requesting that employees with Denison medical insurance login to DU Self Service and check to be certain this information is provided to us for your dependent information, including spouses and domestic partners.
Please note: Any dependents you have covered will show up here even if you do not currently cover them. We cannot remove their historical records from appearing.
Please follow these instructions:
- Access Self-Service through MyDenison – upper right-hand corner of Home tab
- Click on Employee
- Click on Benefits and Deductions
- Click on Beneficiaries and Dependents
If applicable, review the list of your dependents to be certain spelling, date of birth, and social security number(s) are correct. If everything is correct, you do not need to do anything further. If you need to correct any information, please contact benefits@denison.edu.
If you are considered a full-time employee eligible for health insurance, you will receive a Form 1095-C by January 31, 2023 (date subject to change with federal guidance) regarding your health care coverage for calendar year 2022.
Flexible Spending Account 2022 Grace Period
Do you have a flexible spending account (FSA) for 2022? Well, if so, as an FSA participant, Denison’s gift to you is the IRS 2 ½ month grace period for your Health Care and/or Dependent Care FSA. This grace period allows you to be reimbursed for eligible FSA expenses incurred 2 ½ months into the new plan year (2023). It’s a great option because it lessens the likelihood of you forfeiting your FSA dollars. The only downside? We can’t wrap this grace period in pretty paper with a bow.
Here’s how it works:
- Incur eligible health care or dependent care expenses during the grace period, January 1, 2023 to March 15, 2023. Submit claims to PayFlex by April 30, 2022.
- Leftover dollars from your 2022 FSA are used first to pay expenses incurred during the grace period.
- As long as you have 2022 dollars left, your 2023 FSA remains unused (if you elected for 2023).
- During the grace period, your 2023 FSA balance will be used once your 2022 dollars have been exhausted.
Tax-deferred Annuity Retirement Plan
2023 Limits
The IRS has announced cost-of-living adjustments (COLAs) affecting the dollar limits related to retirement and health savings accounts for the 2023 tax year. Several of the limits have increased, including the basic elective deferral for 403(b) plans, which has increased to $22,500, up from $20,500 in 2022.
Click here for a complete list of the key limits for 2023. If you want to change the amount you are contributing to the tax-deferred retirement plan, simply login to TIAA’s website and change your elections directly online.
Making contribution changes for pay dates in December
The final opportunities to make changes to your TIAA employee contribution for 2022 are as follows:
Biweekly pay: All changes must be made on or before 12/08/2022
Monthly pay: All changes must be made on or before 12/15/2022
Log into your TIAA account to make contribution changes.
Faculty/Staff Dependent Tuition Benefit
It’s that time of year when college spring tuition invoices are being mailed home. As a reminder, the faculty/staff tuition benefit for eligible dependent children is available to members of the Denison community following certain policy requirements. If you meet these requirements and have dependent children who plan to attend college in spring 2023, this is a reminder to forward your child’s college invoice to Tressa Riddle, HR Admin Assistant. The benefit will not be processed without this invoice. If you have any questions, please call us at ext. 6299.
SAVI-Public Service Student Loan Forgiveness Webinar
The student loan landscape is ever-changing. Recently, there have been many policy changes that borrowers should be aware of, and because of that, Savi’s December webinar will have a special focus on recent policy updates and what borrowers can expect in 2023.
This free webinar will take place December 14th at 2pm EST. Register now.
