You are cordially invited to attend the Benefits Fair to be held for Elon University Faculty and Staff, Tuesday, October 21, 2014 in Koury Athletics Center (Koury Concourse) from 10:00 a.m. until 2:00 p.m. Please note you may visit at your convenience.
The Benefits Fair is designed to give you the opportunity to learn about your benefits and talk with representatives about benefit election options for the next calendar year. After learning more about your benefit election options, you may go to OnTrack to complete the online enrollment process in order to add and/or make changes to your benefits that will be effective January 1, 2015. You have to complete the enrollment process online in order to effect a change. The deadline for completing the open enrollment online process is Friday, October 31, 2014. If you attend the Benefits Fair, you will have the opportunity to register for door prizes! Please mark your calendar now and plan to attend!
All benefit eligible employees will need to complete the open enrollment process through OnTrack with Benefits Enrollment Online. Employees that do not go into the online system during open enrollment to add, delete, or make a change to their benefits will maintain their benefits (medical, dental, vision, dependent/optional life, long-term disability, etc.) at their current coverage level except for those individuals that participate in the flexible spending plans. Flexible spending (medical and/or dependent care spending accounts) participants must re-enroll in those plans every year because previous elections do not rollover. The IRS requires each employee to indicate election choices for medical and dependent care spending accounts annually.
The annual maximum contribution amount for the Medical FSA is $2,500 per participant and not per household. For instance, if an employee and their legal spouse both participate in their respective employer’s FSA plans, they may have a combined household pre-tax contribution of $5,000 for the taxable year but neither may contribute more than the $2,500 per person pre-tax limit (e.g. one cannot contribute $2,000 and the other contribute $3,000). The annual maximum contribution amount for Dependent Care FSA is $5,000.
Changes in the medical and dependent care Flexible Spending Accounts (FSAs) can be made while attending the Benefits Fair or any other time during the open enrollment period online. Staff from the Office of Human Resources will be available at the Benefits Fair to provide assistance.
After the Benefits Fair, please call the Office of Human Resources to schedule an appointment if you need assistance with the online enrollment process.