Flexible Benefits Plan Enrollments for Calendar Year 2010

Please be advised that the election period for your year 2010 flexible benefits is November 4, 2009 through November 18, 2009. During this time all employees will be eligible to make changes to flexible spending accounts or AFLAC insurance programs.

2010 Flexible Spending Account Election Process

All of your current benefit elections, except for the flexible spending accounts (medical and dependent care), will automatically carry forward into 2010, unless you complete paperwork to effect a change . The IRS requires each employee to indicate election choices for medical and dependant care spending accounts annually. Changes in medical and dependent care spending accounts can be made by either attending the Benefits Fair, during a scheduled appointment with an AFLAC representative, stopping by the Office of Human Resources to complete forms or by completing the enrollment form online.

The annual open enrollment period for Elon's Flexible Benefits plan will be:

Flexible Spending Account Grace Period

Effective January 1, 2006 the reimbursement period for flexible spending accounts (medical and dependent care expenses) was extended by the IRS. The grace period begins January 1st and ends March 15th following completion of the calendar year. The grace period provides more time to spend the funds in the flexible spending account. Any unused amounts not submitted for reimbursement by March 31st will be forfeited. Eligible expenses incurred during the grace period (January 1st through March 15th ) and approved for reimbursement will be paid first from available amounts that were remaining on December 31st of the previous year and then paid from any available amounts for the current Plan Year.

Example
If you elected $1,000.00 for medical expenses for Plan Year 2009 and have a balance of $200.00 on December 31st , you can submit qualified expenses incurred between January 1st and March 15th of 2010 for reimbursement of the remaining balance.

AFLAC is the company that administers the university's flexible benefits program. Representatives from AFLAC will be available to meet with you and guide you through the process whether you are enrolling in the flexible benefits program for the first time or wish to change any of your previous elections. AFLAC also offers several voluntary supplemental plans that are all available through payroll deduction.

Many employees are familiar with the university's flexible spending benefits plan and the annual open enrollment process. For those who want to learn more or are enrolling for the first time, the following link answers the most commonly asked questions about the flexible benefits plans.

Please call the Office of Human Resources at ext. 5560 to schedule an appointment with an AFLAC representative if you are enrolling in an AFLAC product for the first time or want to make complex changes to your current election(s).