For most employees, benefit deductions and contributions will change in 2024.
Health, Dental, Vision, and Accident Insurance
While premiums for all health insurance plans will increase for 2024, vision insurance premiums will remain the same and accident insurance premiums will decrease. Premiums for all dental insurance plans will also change. The change to the premiums will start on your January 11, 2024 paycheck.
Individual & Family Life Insurance
If you will be in a new premium age category as of January 1, 2024, or if you changed your coverage level during the Annual Benefits Enrollment period, your new premium will start on your January 11, 2024 paycheck.
Accidental Death & Dismemberment (AD&D) Insurance
If you enrolled, changed coverage levels, or cancelled coverage during the Annual Benefits Enrollment period, your 2024 premium will start on your January 11, 2024 paycheck.
Wisconsin Retirement System (WRS) Contributions
The WRS employee and employer contributions for 2024 will increase slightly and will start on your January 11, 2024 paycheck.
UW 403(b) Supplemental Retirement Program (SRP) and Wisconsin Deferred Compensation (WDC) 457 Program
2024 contributions will start on your January 11, 2024 paycheck.
Health Insurance Opt-Out Incentive
If you do not need health insurance through the Universities of Wisconsin and elected the health insurance opt-out incentive, it will start on your January 11, 2024 paycheck.
Flexible Spending Account (FSA) and Health Savings Account (HSA)
If you enrolled in an FSA or HSA for 2024, your first contribution will be on your January 11, 2024 paycheck.
University Insurance Association (UIA) Life Insurance
If you are enrolled in the UIA Life Insurance Plan, the annual premium will be deducted from your January 25, 2024 paycheck.
Income Continuation Insurance (ICI)
2024 ICI premium rate changes will be effective February 1, 2024. The change to your premium will start on your February 8, 2024 paycheck. Additional information will be communicated in January.
State Group Life Insurance
The 2024 State Group Life Insurance premium will increase for most age groups effective April 1, 2024. Spouse & Dependent coverage premiums will decrease. The change to your premium will start on your April 4, 2024 paycheck. Additional information will be communicated in March.
Reminder – Payroll Deduction Schedule Change
The payroll deduction schedule for benefits will be changing. Previously, benefit insurance premiums for most benefits were deducted one month prior to the coverage month. In January 2024, benefit insurance premiums will be deducted in the same month as the coverage month. Additional information about the change is available in the My UW portal article: Benefit Insurance Premiums: Deduction Schedule Change. You also received emails with information about this change.
More Information: https://www.wisconsin.edu/ohrwd/benefits/premiums/
Source: Universities of Wisconsin Office of Human Resources