2020 – 21 Academic Year
Due to COVID-19, the annual Benefits Fair and in-person opportunity to complete Open Enrollment had to be cancelled. But here are the steps and information you’ll need to take this year to make your benefit selections.
Due Date: Friday, May 15, 2020 — the last day to submit your Open Enrollment forms and any insurance application forms to Human Resources.
- Insurance rates, 2020-21 (NEW, PDF)
- Insurance rates, 2019-20 (for comparison)
- Your current benefits selections: Online Compensation Statement
Steps to take:
All employees working half-time or more must:
- Review your current benefit selections by looking at the employee-elected deductions listed on your online Compensation Statement.
- Review the new 2020-21 insurance rates (PDF). You can compare them to the 2019-20 rates as well.
- Complete your Annual Enrollment Form and submit it.
- A new application or cancellation form is needed for each benefit in which you are changing coverage. Changing your Annual Enrollment Form is one step; a new application or cancellation is needed for the insurance company to know your change of coverage.
- Download them, fill them in, return them to the Human Resources Office by campus mail or via email firstname.lastname@example.org.
- Make sure you have all of this completed and turned in by Friday, May 15. It is the last day to submit your Open Enrollment forms (Annual Enrollment Form and any insurance application forms) to Human Resources (by campus mail or via email email@example.com).
- If you have any questions, please contact firstname.lastname@example.org and we will set up a time to talk with you.
Note that Goshen College’s fiscal year and benefits year is July 1-June 30. If you do not fill out an Annual Enrollment Form for 2020-21, you will not receive medical, dental and vision coverage. HR will NOT continue the same insurance coverage you elected in 2019-20. If you do not fill out an FSA/Section 125 form, we will also assume you do NOT want to participate in the medical or childcare reimbursement accounts in 2020-21.
2020-21 Rates and Forms
The health insurance rates for the 2020-21 academic year have increased an average of 5.6%. Goshen College will continue to pay 100% of the employee premium as well as 50% of the premium for dependents of full-time employees. In your coverage decision, remember that the rates above are gross deductions. The net cost to you will be 75-80% of these figures due to taking them out of your check pre-tax (tax free).
The dental insurance rates have not changed for the 2020-21 academic year. Employees pay the full cost of these premiums.
|Employee + 1 Dependent||$58.17|
The vision insurance rates for the 2020-21 academic year have increased approximately 2%. Employees pay the full cost of these premiums.
|Employee + Spouse||$15.64|
|Employee + Dependents||$16.47|
Medical Expense Reimbursement Account (FSA/Section 125)
Decide how much you wish to take out of your check tax-free for medical expenses you incur during the college year that are not covered by insurance. Employees are no longer able to use FSA/Section 125 funds for over-the-counter medications unless prescribed by a medical practitioner. There is a limit of $2,750 for medical expense reimbursement. For more information, see IRS Publication 502. Also, in choosing how much to place in your medical reimbursement account, you may want to consider the deductible of $1,500/3,000 and the 70% coverage after meeting the deductible. You may carry over up to $500 per year of unused FSA/Section 125 medical expense funds.
Childcare Expense Reimbursement Account (FSA/Section 125)
Decide how much you wish to take out of your check tax-free for childcare expenses for children under age 13 so you can work. There is a limit of $5,000 for childcare expense reimbursement. There is no carryover of unused FSA/Section 125 childcare expense funds. What you haven’t used for eligible expenses occurring during the college year is forfeited.
NOTE: For those participating in either medical or childcare reimbursement accounts, you will need either use the debit card issued to you at the beginning of the plan year or file claim forms with Harrison Group along with the explanation of benefit forms you receive from Highmark PPO or the receipt from your childcare provider. Claim forms are found here.
You may contact our TIAA-CREF and Everence Financial representatives directly anytime about enrolling. Changing the amount withheld from your paycheck for your retirement fund can be done anytime during the year so is not part of the open window/enrollment period.
Rec-Fitness Center Membership
For you, your spouse, and your children under 19 not in college (or if single, then a friend) can be included on your membership. Fill out a form during Open Enrollment if you are becoming a new member or changing dependents. If you wish to cancel membership, please send an email to email@example.com.
Giving to Goshen College via Payroll Deduction
To make a contribution to Goshen College through payroll deduction, simply fill out this form, and return it to the Human Resources Office. Your gifts to Goshen College make a difference, both in terms of dollars and by increasing the participation percentage of faculty/staff who give. Strong support from our faculty/staff sends a message to foundations, government programs and corporate donors that employees have faith in GC, and this is an institution worthy of their investment.