Benefits Office shares reminders for 2024

January 11, 2024

Categories: General News Tags: General News

With the new year upon us, be sure to review this important and timely benefit news and information.

Any benefit election you made during open enrollment for the State Health Plan took effect on Jan. 1, 2024.
Remember to review your most recent paycheck to ensure that the plan you elected is reflected with the corresponding deductions. Health insurance deductions began with your Friday, Dec. 15, 2023, paycheck. Report any discrepancies to the Benefits Office at Benefits@charlotte.edu or 704-687-8134 by Thursday, Jan. 18, to provide adequate time to process any exception requests.
New this year: The State Health Plan will only issue new ID cards to those participants who made a change to their medical coverage for the 2024 plan year.

Any benefit elections you made during open enrollment for NCFlex and the University benefit programs took effect Jan. 1, 2024. Remember to review your Friday, Jan. 12, 2024, paycheck to ensure that the programs you elected are reflected with the corresponding deductions. Report any discrepancies to the Benefits Office at Benefits@charlotte.edu or 704-687-8134 by Wednesday, Jan. 31, 2024.
Please read the following information pertaining to the specific plans listed in this update as it may impact your paycheck if you are enrolled in the benefit program referenced.

Cards with a unique ID will be issued to new employees who enroll and will be re-issued only to existing participants who transferred to a new job or made changes to your plan. If you do not receive your cards or need additional cards, you can contact MetLife at 1-855-676-9441.
Generic cards without a unique ID can be printed after logging onto mybenefits.metlife.com using NCFlex as the company name. A generic card can also be found in the dental section of ncflex.org. Cards are only required the first time you visit your dentist or if you change dentists.

If you are enrolled in UNC Voluntary Life Insurance through Securian, you may see a change in your deduction beginning with your January paycheck. Adjustments to your premium are made based on your age as of Jan. 1, 2024.
Review and update your beneficiaries in the UNC System Benefits (Empyrean) platform.

If you are enrolled in the Critical Illness plan through Voya, you may see a change in your deduction beginning with your January paycheck. Adjustments to your premium are made based on your age as of Jan. 1, 2024.
If you are enrolled in the Critical Illness and/or Accident Plan through Voya, don’t forget to earn your wellness benefit payment by completing an eligible health screening test. Each covered member can file for a wellness benefit payment once per calendar year.
Review and update your beneficiaries in the UNC System Benefits (Empyrean) platform.

A convenience card is mailed to first-time users. For those that have both Health Care FSA and Dependent Daycare FSA accounts, only one card is issued. Cards are re-issued only if reported lost or stolen, or once the card expires after three years; the date your card is valid through is listed on it. For security, please note these cards come in plain envelopes with minimal markings.

Health Care Flexible Spending Account (FSA)

If you were enrolled in the Health Care FSA for 2023, eligible healthcare expenses must have been incurred by Dec. 31, 2023. You have until March 31, 2024, to submit 2023 claims for reimbursement. You can roll over up to $570 of your unused account balance into 2024, as long as you have a minimum balance of at least $25. Any funds exceeding this amount will be forfeited. The rollover will not count toward the 2024 maximum election amount (currently $3,050 for 2024). This rollover feature only applies to the Health Care FSA.
If you enrolled in the Health Care FSA for 2024, eligible healthcare expenses must be incurred Jan. 1 through Dec. 31, 2024, to be eligible for reimbursement. You will have until March 31, 2025, to submit claims for reimbursement.

Dependent Day Care Flexible Spending Account (FSA)

If you were enrolled in the Dependent Day Care FSA for 2023, eligible dependent day care expenses must be incurred by March 15, 2024, provided you remained actively employed through Dec. 31, 2023. You have until March 31, 2024, to submit 2023 claims for reimbursement. Any unused funds will be forfeited.
If you enrolled in the Dependent Day Care FSA for 2024, eligible dependent day care expenses must be incurred Jan. 1, 2024, through March 15, 2025, to be eligible for reimbursement. You will have until March 31, 2025, to submit claims for reimbursement.

Cards are mailed to new participants. Additional cards can be accessed by logging onto www.eyemedvision.com/NCFlex, logging into the EyeMed app or by calling 1-866-248-1939. ID cards are not required to visit a provider.

The limit on contributions to a 403(b)/401(k) plan for 2024 is $23,000. If you are over the age of 50, or will turn 50 by Dec. 31, 2024, you are eligible for an additional $7,500 catch-up contribution.
The limit on contributions to a 457(b) plan for 2024 is also $23,000. If you are over the age of 50, or will turn 50 by Dec. 31, 2024, you are eligible for an additional $7,500 catch-up contribution.
Employee contributions to a 403(b) and 401(k) plan are combined together when determining your maximum contribution; however, employees can maximize saving opportunities by contributing to a 457(b) plan. Amounts contributed to a 457(b) plan are not combined with your 403(b) and/or 401(k) contributions when determining your maximum contribution limit.

Last September, we announced the University selected TIAA as our single retirement program recordkeeper for all five of the UNC Retirement Plans – ORP, 403(b) Plan, 457(b) Plan, Senior Administrative Officer Retirement Program and Senior Athletic Employee Retirement Program. With this change, you will soon have a more simplified experience to help you meet your individual retirement goals and needs.
You’ll receive more information at your home address in the coming weeks explaining the changes, steps you can take and key dates. Please review the information carefully.

Under the Affordable Care Act (ACA), employers are required to report any qualifying medical coverage that you and your dependents were enrolled in during the previous calendar year. You will receive a Form 1095-C which includes information about the health coverage offered to you by the University. The form will be mailed to your home address sometime in the first quarter of 2024. You will not need to attach or file your Form 1095-C with your 2023 federal income tax return; however, you may need to use its information when you complete your tax return.

At the beginning of each new calendar year, leave-earning employees should be aware of how they can use their leave. Review leave reminders here.

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