Since a new bargaining unit agreement has not been ratified, AAUP faculty benefits will remain the same. The only changes, listed below, are IRS limit changes.
IRS increased HSA contribution Limit
The IRS issued the 2018 annual contribution limits listed below.
- $3,450 for Single coverage
- $6,900 for Family coverage
- $1,000 additional for HSA catch-up contributions (age 55 or older)
According to the IRS, It is your responsibility to ensure that you do not exceed these HSA contribution limits. You can determine your total HSA contributions by adding the following:
- Wright State University contribution
- Your Personal paycheck contributions, and
- Anthem Healthy Lifestyles contributions
Flexible Spending Accounts
The IRS has increased the FSA Healthcare maximum for 2018 to $2,650. This is a $50 increase form 2017.
There is no increase for FSA Dependent Care. The contribution limit will remain at $5,000 per year ($2,500 for married filing separate).
Reminder: $50 Late Enrollment Fee
Wright State University promotes a positive enrollment for the annual benefits open enrollment period. The University believes it’s important for each employee to take the time to understand their options so they can select the coverage that best suits their needs and their budget. Regardless of current coverage, you must take action online to continue, change, enroll or waive your 2018 healthcare coverage.
A $50 late enrollment fee has been established to encourage our workforce to take action and submit their benefit elections during the October 30th through November 14th open enrollment. Those who do not take action will have the $50 late fee deducted from their January 2018 paycheck.
Enroll by the deadline to avoid a one-time $50 late enrollment fee!