How parents and caregivers can make the most of benefits open enrollment

Oct. 19, 2023
Division of Human Resources
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Save the dates for this year’s benefits open enrollment Oct. 30-Nov. 17, 2023. This is the once-a-year opportunity for you, parents and caregivers alike, to:

  • Ensure your benefits are right for your family

Do you have the Triple Choice Plan or the High-Deductible Health Plan? There are advantages of both plans, so be sure to check out the 3-step side-by-side comparison, which will help you decide which plan is better for you and your family.

In addition, if your salary changed this past year, it might affect which benefits you wish to participate in. This is the time to evaluate your financial situation as well.     

  • Check listed dependents and beneficiaries

There are several places where the University and your providers need to know who your dependents and/or beneficiaries are like life insurance (University-provided basic life insurance and supplemental life insurance) and emergency contact information. Information related to your retirement accounts can be changed on the vendor’s website. We know that life can change a lot in a year, so take this opportunity to check that your recorded information reflects your current situation.

  • Think about participating in FSAs

Do you or your kids need braces? Are you planning on having a child next year? Do you know about any future medical procedures? Are you a caregiver? If you answered yes, then you could benefit from flexible spending accounts. FSAs allow you to put away money each paycheck pre-tax for medical or caregiving expenses. Learn more about health care and dependent care FSAs.

Some eligible expenses covered by FSAs include:

  • Before and after-school care
  • Childcare centers
  • Eldercare
  • Pre-school dependent care
  • Band-aids
  • Prescriptions
  • Sunscreen

If you elect the High-Deductible Health Plan with HSA, you cannot participate in the full healthcare FSA. But you still may participate in the limited version, which covers expenses related to dental, vision, or out-of-network preventive care services. You can also make additional pre-tax contributions each paycheck into your HSA.

Visit the benefits open enrollment page for more information and help getting started.

Please note: No action is required during this year’s benefits open enrollment unless you want to change your benefits or contribute to a flexible spending account in 2024.