Benefits changes can be made during upcoming Open Enrollment
U-M faculty, staff and retirees will have the opportunity to change their benefits for 2020 during the upcoming Open Enrollment period this fall.
Changes can be made to health, dental, vision and legal plan enrollments. Faculty and staff may also add eligible dependents and enroll in a flexible spending account.
Open Enrollment is set for Oct. 21 through 5 p.m. on Nov. 1. Benefits changes will take effect on Jan. 1, 2020.
Outside of Open Enrollment, employees may only make changes to their health benefits within 30 days of a qualifying life event, such as marriage or divorce, or the birth or adoption of a child.
No action is required to keep current benefits as long as premiums are paid and eligibility maintained — with the exception of flexible spending accounts.
The Internal Revenue Service regulates FSAs. Unlike other benefits, the IRS rules do not allow FSA enrollments to continue from one year to the next. Employees enrolled in an FSA for 2019 will need to re-enroll during open enrollment.
Review benefits plans, options and rates
The Benefits Offices encourages everyone to evaluate health plans based on cost, provider network and the anticipated use of health care services. Total annual health care spending for all dependents covered under an individual’s benefits should be considered. This includes monthly premiums, co-pays, co-insurance or deductibles.
Rates for 2020 will be available on Wolverine Access after Aug. 26. Benefits plan information is available by clicking here.
Talk to health-care providers
A doctor or dentist may belong to several networks. Prior to making benefits changes, it is important to verify that a health-care provider participates in a plan’s network.
Think about the future
Open Enrollment is a good time to think about changes that will take place in the upcoming year.
For example, a young child who may go to the dentist for the first time in 2020 would need to be added to the employee’s dental plan during Open Enrollment.
Employees planning to retire in 2020 should update their dependents during this year’s Open Enrollment. Retirees cannot add new dependents to their coverage.
Enroll or make changes online
Faculty, staff and benefits-eligible graduate students can make benefits changes online from Oct. 21 until 5 p.m. Nov. 1.
Retirees may make changes online or complete the enrollment form included in the open enrollment book. The Benefits Office will mail books to retirees in early October. Forms must be postmarked or received by Nov. 1.