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Campus News
     
Your faculty and staff news since 1965
November 15, 2004
Volume 40, Number 4

Fall Open Enrollment runs through Nov. 30


By Susan Carkeek, Director
Department of Human Resources

In addition to medical, dental, and vision insurance plans, the university offers other insurance programs to benefits-eligible employees. Some of these lesser-known programs are addressed in our fall Open Enrollment.

All benefits eligible UNM employees have until Thursday, Nov. 30 to make changes and/or elections to their life, long term disability, and accidental death and dismemberment insurances. It has been at least seven years since UNM has offered an Open Enrollment period for these programs. Not only can employees sign up for life insurance without medical underwriting, but also the rates for both long-term disability and basic life insurance have decreased. Rates for supplemental coverage have remained the same.

The university is also increasing the percentage of the employer contribution for those earning less than $25,000 to
80 percent of the cost of the premium for basic life and long-term disability insurances. An employee earning less than $25,000 can now acquire the minimum $25,000 of basic life insurance coverage for just $1.02 per month.

Also included in this Open Enrollment period are the Flexible Spending Accounts (FSA), Dependent Education for spring 2005, and the new Education Plan of New Mexico (Section 529). Employees can change and/or elect to participate in a flexible spending account. An FSA allows you to set aside part of your paycheck on a before-tax basis for reimbursement of qualified medical or dependent care expenses. The maximum allowable amount for the medical FSA has been increased from $3,000 to $5,000, and the new “Flex Convenience Cards,” a debit type of card, will make the reimbursement process quick and simple.

The Education Plan of New Mexico is a new addition to the university’s benefits offerings and offers a great way to set aside funds for educational expenses.

Materials describing each of these changes, as well as detailed descriptions of all of these programs, are being mailed to your home address. They should arrive the week of Nov. 8. These materials are also available on the HR Web site at http://www.unm.edu/~hr/whatsnew/. If you have any questions about Open Enrollment, please contact the HR Service Center at 277-MyHR (6947).