benefitsFOCUS: Open Enrollment Is Coming Soon!

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The benefits Open Enrollment window will be open November 1-15! Open Enrollment is an important part of the benefits year, as it’s the one time during the year when current employees can make any changes they’d like to their medical or dental plans (or the dependents covered on those plans), and it’s the one time during the year when employees can elect to make FSA (Flexible Spending Account) contributions for the new year. Changes you make during Open Enrollment go into effect as of January 1, 2024.

We’ll be sending out lots of information about your benefits options in the coming weeks, so please be sure to read our Compass posts! Here are some good things to know about this year’s Open Enrollment:

  • Open Enrollment is administered through the ADP Employee Portal. Be sure you are able to log in to ADP if you wish to make or change your benefits elections for next year.
  • You will not be required to either elect or waive medical/dental coverage this year. If you’re happy with your current coverage and who you are currently covering on those plans, your current selections will roll into 2024 if you do not go into ADP and make changes.
  • You MUST enroll annually during the Open Enrollment window if you want to have an FSA for either healthcare or dependent care next year. These do not roll over from year to year. If you fail to enroll during the Open Enrollment window, you will not be able to make contributions to an FSA for 2024.
  • Our Open Enrollment web page will be packed with information about your benefits options, helpful tips for assessing those options, and much more! This page will go live on October 15. We’ll send out a reminder with a link to the page.
  • NEW! We have an exciting enhancement to our benefits lineup for 2024: voluntary vision coverage. If you or any of your eligible family members wear glasses or use contact lenses, you’ll want to check this out!

Speaking of exciting enhancements to our benefits lineup, the ACPS Lincoln 403(b) Roth option is available NOW! If you’re not familiar with Roths, they’re a way to save for retirement on an after-tax basis. Your contributions and earnings can grow tax-free, and you can withdraw them tax-free and penalty-free after age 59½ and once the account has been open for five years. Visit our Retirement Benefits and Saving for Retirement web page to learn more about the Lincoln 403(b) Roth and find contact information for the ACPS Lincoln 403(b) plan representatives.