Medical Insurance:
Dental Insurance:
Vision Insurance:
If you would like to decrease your Voluntary Life and/or AD&D Insurance, you may do so through Open Enrollment in Oracle. No additional forms will be required.
If you would like to increase your Voluntary Life and/or AD&D Insurance, you may do so through Open Enrollment in Oracle. In addition, you will be required to complete an Evidence of Insurability (EOI) form after Open Enrollment if you increase your coverage above the Guaranteed Issue amount. The EOI will be sent to you after Open Enrollment.
If you would like to enroll in Voluntary Life and/or AD&D Insurance for the first time, you may do so through Open Enrollment in Oracle. In addition, regardless of the amount you elect, you will be required to complete an Evidence of Insurability (EOI) form after Open Enrollment. The EOI will be sent to you after Open Enrollment.
Between November 3rd and November 17th, we are requiring all benefit eligible employees to take an active role in their 2024 benefits elections. This means you are required to log in to Oracle and go through the open enrollment process.
While many of your benefits will roll over, the IRS requires certain benefits to be re-elected each year. . You will need to re-enroll in the health and dependent care FSA for 2024. The IRS also requires that you re-enroll in your Health Savings Account (HSA) each year if you enroll in a HDHP. However, you can change your HSA deferrals throughout the year without an IRS Change in Status event by emailing the Benefits Team (benefits@gmhec.org).
This is your only opportunity to elect or change your benefits for 2024, unless an IRS Qualifying Event/Change in Status takes place during 2024.
Everyone must enroll in their benefits between November 3rd and November 17th. If you miss this window, you will not be able to make benefit changes for 2024 unless you have an IRS Change in Status event (examples include marriage, birth or adoption of a child, etc).
Yes! Benefits eligible employees must enroll themselves through their account in Oracle HCM. The only exception will be if you do not have access to Oracle through a computer, tablet or Smartphone. If this applies to you, please call the GMHEC Benefits Services Team at 802-443-5485 to request enrollment support for your 2024 benefits.
If you lose coverage that you have elsewhere, per the IRS, you will have 30 days to enroll in a College Plan. Please Record a Life Event in Oracle or email benefits@gmhec.org as soon as possible (within 30 days of the event) if this occurs and we will assist you.
Your elections for plan year 2024 will start on January 1, 2024 and run through December 31, 2024.
Review the 2024 Benefit Guide which can be found on your college website or employee portal. Share the information with family members, if applicable. There are also several videos available to view on the benefit programs. If you will be covering a spouse or dependent, be prepared to enter each dependent’s full name, date of birth, gender, and Social Security Number.
If you have specific questions please email us at benefits@gmhec.org or call us at 802-443-5485 and we will be happy to assist you.
Oracle provides a summary of your current Here’s the path to access it:
On average, enrollment takes less than 20 minutes with Oracle HCM.
Gym Membership – You may enroll or opt out of this benefit at any time throughout the year.
Retirement Contributions – You may begin retirement plan participation or make changes to your existing deferral elections any time throughout the year. However, Open Enrollment is a good time of year to think about how much you are saving for retirement and make changes if needed. If you are eligible for the College’s employer matching contribution but are not taking full advantage of the benefit, consider making a change during Open Enrollment. Unlike your Open Enrollment elections that go into effect January 1, the changes you make to your retirement contributions in Oracle will be effective in the same pay period you make the election.
Employees may make changes during the Annual Enrollment period by accessing Oracle HCM and updating enrollment until the end of the day on November 17th. Employees can also make updates by sending an email to benefits@gmhec.org to request assistance. Changes outside of the Open Enrollment period will need to be substantiated with an IRS qualifying life event.
Enroll early! Enter to Win!
After you have made your elections and click Submit, you will see a confirmation screen with a green header. This will be your only confirmation Oracle does not email an additional confirmation. However, you may review your elections any time by following the steps below. If you still have questions you may call Your Benefits Team at 802-443-5485 or by emailing benefits@gmhec.org.
Yes, the College will continue to contribute a percentage of the deductible for those enrolled in the high deductible health plans. The College contribution is prorated and occurs each pay period. The HSA contribution for 2024 is the same as it is for 2023.
Yes, the HSA is your account, both your deferral money and the College contribution stay with you.
If you reach your deductible before the year-end, you may request the College to pre-fund what the College would have contributed for the year to your HSA. You will need to substantiate you have met your deductible and there will be paperwork for you to complete. Please email benefits@gmhec.org if this applies to you during the 2024 year.
No, it is not required that you contribute. This is an option for you if you participate in a HDHP. If you do contribute, it will lower your taxable income* and create funds to use for current and/or future medical expenses. This account rolls over each year so you do not forfeit any contributions to the account.
*CA and NJ employees, please note that HSAs are subject to state taxes
No, you may choose to contribute to your HSA at any time. You may also increase or decrease your contribution amount to your HSA at any time. Please contact the benefits team at benefits@gmhec.org to make changes.
Yes, but per IRS regulations, you must be enrolled in a Limited Purpose FSA that can only be used for dental and vision expenses.
An HSA can be used to pay for qualified medical, dental, and vision expenses, but you can only contribute to an HSA if you are enrolled in a HDHP. An HSA is a bank account where the money in the account is available for you to spend. The money in an HSA rolls over each year and you do not lose it. You also do not need to substantiate your claims, but you must keep this information for your records should you be audited by the IRS. You can change your contribution amount in the HSA throughout the year.
A medical FSA can be used to pay for qualified medical, dental, and vision expenses when you are not enrolled in an HDHP. With an FSA you can roll over up to $610 at the end of a year and any other unspent money will be forfeited. You must also substantiate all your claims to our FSA vendor, otherwise you may be taxed on amounts not substantiated. During Open Enrollment, you must choose your annual election for your FSA and you cannot change that amount throughout the year unless you have an IRS Change in Status. The HSA annual limit is higher than the FSA annual limit.
The 2024 HSA limit for an individual is $4,150 and for a 2-Person/Family it is 8,300. If you are 55 or older during 2024 you may contribute an additional $1,000. You must include the Colleges contribution in the overall limit. The IRS has not published the Flexible Spending Account (FSA) limits for 2024, the 2023 limit for the health FSA is $3,050 and the dependent FSA is $5,000.
To offer options to all employees. Offering multiple plans gives the employees the option to choose which plan will work best for themselves and their families.
No, each plan is separate. Additionally, you may choose to enroll as the employee but you do not need to cover all your dependents. For example, perhaps only you and a child are enrolled in the vision plan, or you have a 6 month old that does not need to be enrolled in the dental.
MDLive is an alternative to use in those times when you are too busy to get an appointment with your Doctor. Whether you are at home, work or traveling. MDLive is an option to help with most non-emergency medical conditions. The Board Certified doctors can diagnose and prescribe medication for common medical conditions.
There is a difference between Telehealth and Telemedicine. Telehealth, MDLive, is not a visit with your primary care doctors. Telemedicine is when you have a visit with your local doctor via virtually or by phone, but not in person. The cost of a telemedicine visit is normally higher than a Telehealth, MDLive visit.
We are changing our dental insurance coverage from Cigna to a plan with Northeast Delta Dental effective 1/1/2024. Northeast Delta Dental is a well known and much utilized insurance provider amongst dentists and patients – we’ll have access to an expanded network with more in-network providers than we’ve had in the Cigna plan. You can expect:
No, we are retaining our current vision plans which include two plan options. Vision rates are decreasing for 2024.
Yes! In fact, it is recommended that you use Open Enrollment as an opportunity to update your Life and AD&D Insurance beneficiaries in Oracle. Please remember, your retirement savings beneficiaries are on your retirement plan website and your HSA beneficiaries are on the HealthEquity website. You may want to visit those sites as well to make updates.
No, you do not need to re-enroll or update your retirement contributions as part of Open Enrollment. However, Open Enrollment is a good time to consider reviewing your retirement plan contributions.
Changes to your retirement plan contributions go into effect in your next paycheck as long as your change is made at least 7 days before the next pay date, even during the Open Enrollment period. Deferral changes will not be future-dated to begin January 1, 2024.
Like with all benefit elections, we recommend you review the employee and employer deduction sections of your payslips to make sure that everything is correct. You can also log into your retirement accounts at TIAA.org to monitor contributions. Normally, plan contributions post to accounts on pay date Fridays, after the market closes