The benefits open enrollment period for endowed faculty and staff is Nov. 1-21. During this period, endowed employees can change their health plans, enroll in a dental plan, add or drop family members’ coverage, enroll in the medical or dependent care flexible spending account (FSA) and enroll in or drop the legal plan.

The new health plan rates are available on a new website, enroll.hr.cornell.edu. “The Cornell Program for Healthy Living and the Aetna PPO premiums have increased to cover the expected cost increases in health care delivery, while the Aetna High Deductible (HSA) plan shows a significant decrease in premiums,” said Paul Bursic, senior director for Benefit Services. Starting in 2015, HSA plan participants will also have access to the whole contribution of $1,000, provided by Cornell to jumpstart HSA plan enrollment, in January instead of having the money spread out over the year, he added.

The Affordable Care Act and Cornell plans

The Affordable Care Act (ACA), now in its second year, will not affect employees enrolled in an endowed health plan. According to the ACA’s scale of plan value, the endowed health plans have the highest level of coverage; in fact, the Cornell Program for Healthy Living already met most of the progressive provisions of the ACA before it was passed into law.

But employees and family members who do not have health insurance coverage will need to pay a tax penalty that will rise each year, making the decision not to purchase coverage unsustainable over time.

For federal reporting purposes, Benefit Services needs the names and Social Security numbers of all employees’ dependents who have Cornell health insurance coverage. You can submit these through the self-service feature of Workday if you have not already done so. If you indicate on your Form 1040 that you have health insurance through Cornell, but your dependent’s name and Social Security number are not in Workday, then your dependent will not be on Benefit Services’ report, and the IRS will contact you for other proof or demand payment of the tax penalty.

The dental plan provided by Ameritas does not have any plan changes for 2015, however, the rates for Plan A+ and Plan A will increase, while Plan B will rates will remain unchanged.

New this year is a virtual benefits adviser, or online decision-support tool, ALEX (available the week of Oct. 27), to help employees understand their health and dental plan choices and how FSAs work to their advantage.

If an ALEX session prompts you to change, use Workday to change your benefits. You will want to make sure you review benefit plan information to fully understand the plan details.

If you, as an endowed employee, do nothing with your health plan and dental plan choices, you will remain with your current health and dental plan, but if you want to enroll in an FSA for 2015, you need to enroll by Nov. 21. If you have been awarded a Cornell child care grant for 2015 and you want to set aside money from your paycheck to help pay for day care costs, you need to enroll in the dependent care FSA. If you want to use only the grant money awarded to you, you do not need to enroll in the dependent care FSA. Benefit Services will send your grant award amount to PayFlex, and that will create your 2015 account.

Also new: A preferred retail pharmacy network arrangement will be available beginning Jan. 1, 2015 through Express Scripts, helping you to avoid higher co-payments.

This year’s Open Enrollment BeneFair will be held Nov. 12, 9 a.m.-3 p.m., in G10 Biotechnology Building. Vendors will help with questions or descriptions of plan provisions. Endowed faculty and staff who live and work in the New York City area can attend a special BeneFair at the Cornell Tech site in the Google building, Nov. 5, 3-5 p.m.

Should you wish to talk with a Benefit Services staff member, contact Benefit Services at 607-255-3936 or email benefits@cornell.edu. Benefit Services is now located on the first floor of the East Hill Office Building, 395 Pine Tree Road.