Category: Payroll & Benefits

Summer prepay insurance premiums are deducted from spring paychecks to cover the cost of continuing insurance coverage through the summer months (i.e. contract break) and are in addition to regular biweekly insurance premium deductions.

Faculty, academic staff, limited appointees, student assistants, and employees-in-training will have summer prepay insurance premium deductions if:

• Their academic (9 month) or annual (12 month) contract does not include work during one or more summer months; and
• They are expected to return to benefits eligible employment on or before the start of the fall semester; and
• They are eligible to maintain insurance coverage through the summer months.

The summer prepay insurance premium deductions will occur on all paychecks received in March, April, and May. Employees scheduled to have summer prepay deductions will receive monthly emails with estimated prepay deduction amounts.

Review the Universities of Wisconsin Employee Benefits Summer Prepay Insurance Premiums web page for information on:

• Which insurance plans have summer prepay deductions.
• The summer prepay deduction timeline.
• How life events (employment or family status changes) may affect deductions.

If you have questions after reviewing the web page, reach out to serviceoperations@uwss.wisconsin.edu

 

To be reimbursed from your 2024 Health Care Flexible Spending Account (FSA), you must have eligible expenses from the 2024 calendar year. Submit and substantiate your eligible expenses by March 31, 2025.

An FSA reimburses you for certain out-of-pocket expenses with tax-free dollars. Since these are spending accounts, the money should be spent. Eligible expenses include:

• Medical (post-deductible only if you were also in the HDHP and HSA)
• Dental
• Vision
• Dependent Day Care

How to Submit Eligible Expenses for Reimbursement

Submit your eligible expenses for reimbursement electronically by using the Optum Financial mobile app or Optum website. Remember to include the required IRS supporting documentation with your submission. Optum will contact you directly for additional information, if necessary.

Carryover Reminders

Some of the unused funds in your Health Care FSA may be eligible to carry over from 2024 to 2025 based on the balance in your 2024 Health Care FSA on March 31, 2025. The carryover process will occur around April 15, 2025.

• Unused funds less than $50 will be forfeited if you did not re-enroll for the 2025 plan year
• Unused funds greater than $50 and up to $640 will carry over from 2024 to 2025
• Unused funds greater than $640 will be forfeited

The IRS does not allow carryover for the Dependent Day Care FSA.

More Information

For questions about your claims, eligible expenses, or your payment card, contact Optum at (833) 881-8158.

For general information, review the Universities of Wisconsin Employee Benefits FSA web page.

Looking for a cost-free E-filing solution for both federal and state taxes? Interested in mastering your own tax return? The Volunteer Income Tax Assistance (VITA) program provides FREE tax help from IRS-certified volunteers on campus. Options include:

• Full-service tax preparation for individuals with income up to $67,000.
• DIY E-filing support for individuals with income up to $84,000.
• Free group tax workshop to introduce free E-filing options, including the IRS DirectFile program.

Visit uwgb.edu/vita to learn more.

The 2024 W-2 forms (Wage and Tax Statements) are available for all active Universities of Wisconsin employees on the MyUW portal.

Paper copies will be postmarked by January 31, 2025, and sent via U.S. mail to employees who did not consent to electronic only W-2 Form distribution.

Resources
View/print your W-2 form and find tax resources on the Tax Statements tab on the Payroll Help page.

Filing Taxes
Employees should use their W-2 form, not their final 2024 earnings statement, to file taxes.

The Internal Revenue Service will begin accepting and processing 2024 tax year returns near the end of January 2025. Employees may want to file their return as soon as all tax forms are received to minimize the chance of a fraudulent return being processed using their Social Security number, or Individual Taxpayer Identification number. More information is available on the IRS website.

1095-C Forms

Are available in the MyUW Portal Now for those who consented to electronic distribution. To view your 1095-C Form in the MyUW Portal, select the “Benefits & Well Being” tile, click on the drop down for Affordable Care Act, and select “View Form 1095-C”.

Paper copies will be postmarked and mailed via US Mail for those who did not consent for electronic distribution.

If you have questions, contact your Payroll Office.

Source: UW-Shared Services

As a Universities of Wisconsin employee, you are eligible for the UW 403(b) Supplemental Retirement Program (SRP) – a voluntary supplemental retirement savings plan administered by the Universities of Wisconsin specifically for UW employees.

Choose either TIAA or Fidelity in the UW 403(b) SRP. Both offer the same 18 best-in-class choice of mutual funds, a guaranteed interest option, and access to a brokerage window. You decide how much to save, which of the fund options to invest in, and whether to contribute on a pre-tax and/or Roth (after-tax) basis. You can start, change, or stop your deductions at any time.

Enrollment is easy with the EZ enrollment form.

Before enrolling, schedule a free individual counseling session or attend a live or on-demand webinars offered through TIAA or Fidelity.

Individual Counseling Sessions
To help you better understand the UW 403(b) SRP and available options, attend an individual counseling session. No matter where you are in life – just getting started or planning for retirement – a session with a financial consultant can help you create a plan for your goals.

These one-on-one counseling sessions are a free service available to participants in the UW 403(b) SRP as well as those considering participation. Counseling sessions are open to all employees, and you are not obligated to open an account with a recordkeeper.

• TIAA
  Schedule an appointment at tiaa.org/public/login/schedule-meeting or call (800) 732-8353, weekdays, 7 am to 7 pm (CST).
• Fidelity
  Schedule an appointment at digital.fidelity.com/prgw/digital/wos/Appointments or call (800) 642-7131, weekdays, 7 am to 11 pm (CST).

Live and On-Demand Webinars
Whether you are a current contributor to the 403(b) or looking for more information, check out the Live and On-Demand Webinars available to all UW employees. The on-demand webinar: SRP: Investing in Your Financial Future: Intro to the 403(b) Program is a good resource for new enrollees.

Additional Resources
Additional resources are available on the UW 403(b) Supplemental Retirement Program web page.

 

Source: Universities of Wisconsin Office of Trust Funds

The 2025 Annual Benefits Enrollment (ABE) period is September 30 – October 25, 2024. This is your annual opportunity to enroll in or make changes to most of your benefits. Changes made during ABE are effective January 1, 2025.

Plan now so you are ready for the enrollment period.

The Universities of Wisconsin Office of Human Resources is hosting virtual presentations to review the upcoming benefit changes and actions you need to take. Presentations are scheduled for:

• Tuesday, October 1, 2024, at 12:00 PM
• Thursday, October 3, 2024, at 5:00 PM
• Wednesday, October 9, 2024, at 2:00 PM
• Thursday, October 17, 2024, at 9:00 AM
• Wednesday, October 23, 2024, at 12:00 PM

To attend a virtual presentation, go to the ABE Presentation web page (https://⁠www⁠.wisconsin⁠.edu/abe/presentations) for the meeting link.

The presentations will be approximately 45 minutes. You will have an opportunity to submit questions during the presentation (excluding personal health information) that will be answered at the end, as time permits.

A recording of the presentation and question & answer document will be available on the ABE Presentation web page following the first presentation.

You will receive emails reminding you to review your benefits and take action by Friday, October 25, 2024, 4:30 PM.

Sincerely,

Universities of Wisconsin Office of Human Resources

The Annual Benefits Enrollment (ABE) period is September 30-October 25. This is your annual opportunity to enroll in or make changes to most of your benefits unless you have a qualifying life event. Changes made during ABE are effective January 1, 2025.

Plan now so you are ready for the enrollment period. Find all of the ABE resources on the ABE web page.

Review

• •  Review your current benefit enrollments at my.wisconsin.edu in the Benefits and Well-Being tile. For help finding current enrollments, see the View Benefit Enroll Confirmation Statement tipsheet by clicking the three dots in the upper right and selecting Help from the drop down.
  • Review the ABE web page (https://www.wisconsin.edu/abe/) for the following resources:
    • ABE 2025 Highlights video
    • Department of Employee Trust Funds (ETF) Health Benefits Decision Guide
    • Benefit plan comparisons
    • Onsite benefits fairs and virtual benefit session schedules

Decide

• • You may be eligible to enroll in, change, or cancel coverage for the plans listed below. For some plans you can add or remove dependents.
    • State Group Health Insurance
    • Dental Insurance
    • Vision Insurance
    • Individual & Family Life Insurance
    • Accidental Death & Dismemberment (AD&D) Insurance
    • Accident Insurance
    • Flexible Spending Accounts (FSAs): Health Care FSA, Limited Purpose FSA, and Dependent Day Care
    • Health Savings Account (HSA)
  • You must enroll in these plans each year to participate:
    • Flexible Spending Account (FSAs): Health Care FSA, Limited Purpose FSA, and Dependent Day Care
    • Health Savings Account (HSA): Required if you enroll in a High Deductible Health Plan (HDHP)
    • State Group Health Insurance Opt-Out Incentive

Enroll

• • Beginning September 30, enroll from the Benefits Enrollment tile on my.wisconsin.edu. For help enrolling, see the ABE Self-Enrollment Guide by clicking the three dots in the upper right and selecting Help from the drop down. All enrollments and changes must be submitted by Friday, October 25, 2024, 4:30PM.

After you enroll, you will receive an e-mail within 48 hours with instructions on how to review your benefits elections for 2025. Review your benefits elections and dependents to ensure they are accurate.

For more information, review the ABE web page (https://www.wisconsin.edu/abe/). If you have questions after reviewing the available information, reach out to UW Employee Benefits at serviceoperations@support.wisconsin.edu