Deadline for Enrolling in Dependent Care Subsidy Program is November 1, 2004
You can still enroll in the second part of the Institution's Dependent Care Assistance Plan, the Dependent Care Subsidy.
For 2004 participation, you can enroll in the Subsidy program anytime before November 1, 2004. Briefly stated, the program helps pay for eligible dependent care services. The benefit can be as much as $2,000 per eligible dependent, and up to $5,000 could be tax-free. (Certain limits and restrictions apply.)
Visit: http://www.whoi.edu/services/HR/benefits/ccindex.htm for description of forms. For further information or explanation, contact either Linda Snow (ext. 3763 or lsnow@whoi.edu) or Elizabeth Doyle (ext. 3743 or edoyle@whoi.edu).
Flexible Spending Accounts It is a good idea to review the status of your Flexible Spending Accounts periodically. As you know, any funds left in your account at the end of the Plan Year cannot be forwarded and will be forfeited. Active participants have 90 days after the Plan Year ends to submit claims for expenses incurred during their participation in the Plan Year.
Dependents' Continuation of Coverage
When your dependent child becomes ineligible due to age, gains coverage with another group plan, graduates, marries, or leaves school, it is important that you contact your Benefits Specialist to ensure that you do not miss the deadline for your child to enroll in continuing coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA).
The cost for this continuation of coverage is 100% of the plan with no WHOI subsidy, as well as a 2% fee for administration. The premium payments are due monthly to avoid any interruption or involuntary cancellation of coverage. Your child may request this continuation for a maximum of 36 months and may cancel at any time by sending a written request to Benefit Strategies, the plan administrator.
In addition, as a result of this family status change, you may decide to change from family to individual health and/or dental coverage, as long as the child was the only dependent on your plan(s) at the time of loss of eligibility.
2005 Open Enrollment in November
The annual benefits Open Enrollment period will take place November 1st - November 19th, with changes effective January 1, 2005. This is the time when you can make changes in your Medical or Dental coverage, or enroll in either or both of the flexible spending accounts (dependent care, health care). Details are being finalized now and an announcement with information will be sent to each eligible employee and retiree shortly.
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