Open Enrollment

Monday, October 23, 2017 to Friday, November 17, 2017
8:00 am to 11:59 pm

IMPORTANT OPEN ENROLLMENT NEWS:

This year’s Open Enrollment period is October 23, 2017 to November 17, 2017.  Selections made for group medical and dental plans, flexible spending accounts, health savings accounts, pre-paid legal and vision plans during this time will be effective January 1, 2018 through December 31, 2018. 

For more information, please visit the Open Enrollment Page.

MARKET LINK ONLINE BENEFIT ELECTION SYSTEM

After a successful pilot program, we are excited to announce that we are moving from paper benefit election forms to an online benefit election system though Market Link this is a secure portal that allows employees to select benefits, name beneficiaries, and compare plans side by side. This new online platform is in line with WPI’s sustainability initiatives, as it will significantly reduce the amount of paper typically used during this time.

All benefit elections must be made through Market Link, and we will no longer accept paper benefit election forms.

Members of our team will have laptops available at the Health and Wellness Fair to show you the new Market Link portal and offer assistance, as needed.

HEALTH AND DENTAL INSURANCE RATES

Although there will be a change to this year’s health insurance rates, there will be no changes to the plan design. WPI’s insurance rates are determined by utilization.   In the past year, WPI employees have had to use their insurance at a higher rate, which resulted in significant increases in those rates. Therefore, to help keep health insurance rates more reasonable for employees, WPI has decided not pass on the full amount of the increase.  In addition, we are happy to share that the dental rates for 2018 have actually decreased.

The charts below show both the current 2017 rates and the new 2018 rates for health and dental.  Here is the breakdown of all the details:

Health Insurance:

  • Coverage remains with Tufts Health Plan.
  • If you are enrolling for the first time or making a change, you will need to complete the online enrollment through the Market Link portal
  • There are no plan design changes.
  • If you are not changing your health plan, you do not need to re-elect. Your coverage will continue as is.
  • NEW RATES:  View the new rates on the Health Insurance Calculator.

Dental Insurance:

  • Coverage will remain with Altus Dental.
  • If you are enrolling for the first time or making a change, you will need to complete the online enrollment through the Market Link portal.
  • There are no plan design changes.
  • If you are not changing your dental plan, you do not need to re-elect.  Your coverage will continue as is.

New Rates:

Individual Plan

Monthly Low Plan Monthly High Plan Biweekly Low Plan Biweekly High Plan
2017: $31.90 2017: $42.61 2017: $15.95 2017: $21.31
2018: $29.70 2018: $39.82 2018: $14.85 2018: $19.91

Family Plan

Monthly Low Plan Monthly High Plan Biweekly Low Plan Biweekly High Plan
2017: $108.21 2017: $151.18 2017: $54.11 2017: $75.59
2018: $101.81 2018: $142.42 2018: $50.91 2018: $71.21

Flexible Spending Accounts & Health Savings Accounts:

  • Coverage will remain with Benefit Strategies. 
  • For medical FSA and limited purpose FSA, the maximum amount for withholding will be $2,500. Dependent care will be a maximum of $5,000.   For Health Savings Accounts the maximum (less WPI's contribution) is $2,950 for an individual and $5,900 for a family. 
  • All previous enrollments will end on December 31, 2017.   
  • Re-enrollment is required to elect or renew for all Flexible Spending and Health Savings Accounts. WPI's contribution to the Health Savings Accounts will remain the same, $500 for an individual and $1,000 for a family.   

Pre-paid Legal: 

  • All current enrollments end December 31, 2017. 
  • Re-enrollment is required to elect or renew. If you are electing or renewing please do so in the Market Link portal.
  • The new rate for the legal plan for 2018 is $22.75 per month   

Vision Plan: 

  • All current enrollments end December 31, 2017.
  • Re-enrollment is required to elect or renew. If you are electing or renewing please do so in the Market Link portal.  
  • The vision rates will remain the same. 

***The online open enrollment ends Friday November 17, 2017***

Changes to elections will become effective January 1, 2018. Please visit  Market Link  to review at your current benefits or print a benefit summary.

Health  Insurance Matrix   - Compares all available health insurance plans.

Altus Dental Matrix - Compares all available dental insurance plans.
 
Hyatt Legal Plan – Provides Information on this post-tax benefit.  Employees interested in renewing or signing up for this benefit must elect the level of coverage in the Market Link portal 

Vision Plan - Employees interested in renewing or signing up for this benefit must elect the level of coverage in the Market Link Portal   

If you have any questions regarding Open Enrollment or the Market Link enrollment process, please contact the Office of Human Resources at 508-831-5470 or e-mail benefits@wpi.edu.
 
 
 
 

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