We have been notified by the State Department of Budget and Management’s Employee Benefits Division (EBD) of several key updates applicable to employees (does not apply to Graduate Assistants) who have benefits through the State of Maryland.

Additional Premium Holidays for 2018

The State of Maryland announced yesterday that Governor Larry Hogan has approved two health premium holidays for the month of March for active, retired and contractual* employees enrolled in health coverage.   Due to the approved additional premium holidays, there will be no deductions for Medical, Prescription or Dental on the following University pay check dates:

March 9th – No deductions for Medical, Prescription, or Dental

March 23rd – No deductions for Medical, Prescription, or Dental

Please note:  On the paychecks of April 6th and October 5th there will be no deductions for Medical, Prescription, Dental, FSA’s, and Life Insurance as a part of our regularly scheduled semi-annual premium holidays.

*Contractual employees will see this reflected on their March premium coupons. 

Changes to Effective Dates of Coverage

In addition, there are two major changes to the way the State of Maryland applies effective dates of health coverage for new hires and employees who experience a “Qualifying Event”.  These changes were announced to our campus in 2017 and became effective on January 1, 2018:

1. Effective Dates of Coverage: Coverage will begin on the 1st of the month following the start date of a new hire or the “Qualifying Event” date (such as marriage, loss of coverage, divorce, etc.). Effective dates for newborns will be adjusted to the actual date of birth. Employee will be billed by the State of Maryland back to their effective date of coverage.

2. Termination Dates of Coverage:  Coverage will terminate on the last day of the month in which an employee separates from employment. If the employee has not had sufficient deductions through the end of the month in which they were covered, the State of Maryland will bill employees who separate employment. 

1095-C Tax Statements

The State of Maryland will issue 1095-C tax statements by March 2, 2018 as required by the IRS showing the months in 2017 in which employees had health coverage.  Due to recent changes to law, the IRS has removed the requirement to attach the 1095-C forms to your 2017 tax filing.  Employees do not have to wait until they receive their 1095-C tax statement to file their taxes.  They will, however, be asked questions on their tax filing about whether or not they had coverage in the 2017 tax year. 

State Personnel System (SPS) Update

HR and DoIT have been working to provide the State of Maryland with necessary information for the implementation of “Workday” in the State Personnel System (SPS).  No more paper!   Effective January 2019, SPS Workday will replace the current paper process; employees will have access to SPS Workday for online enrollment and changes in benefits.    Please visit the HR website for updates regarding the SPS implementation

Questions about can be directed to benefits at hrbenefits@umbc.edu 

Daren Reid, a Fidelity retirement planner, has more than six years with the company. He was previously a Financial Advisor with Smith Barney and prior to that a Retirement Meeting Specialist with T. Rowe Price.  An investment advisor representative, registered securities representative, and licensed insurance representative, Darren is a proud alum of the University Of Maryland, Baltimore County and holds a bachelor's degree in Health Science & Policy.

Darren lives in Howard County with his wife and 9 year old daughter.  He is a mentor for the College Bound Urban Scholars Program.  In his spare time, he enjoys running, weightlifting, mixed martial arts, and watching local DC sports teams.

One-on-one consultations with Fidelity's Financial Consultant, Daren Reid, can be made by appointment only online at http://getguidance.fidelity.com

You can make an appointment for a financial consultation to get answers to your questions and

It’s that time of year and Open Enrollment is fast approaching.  Please join us for our Annual Health Benefits Fair on Tuesday, October 3rd in the University Center Ballroom.  More Information is on the Benefits website under Open Enrollment:
 
Here are some things to expect with regards to this year’s Open Enrollment:

• Open Enrollment will run from October 12th through November 15th

• Employees will use the Interactive Voice Response (IVR) system to make changes to their benefits and/or to sign up for Flexible Spending for 2018

• Individual Open Enrollment Packets are expected to arrive next week.  We will contact departments with instructions for packet pick up.  Departments will deliver Open Enrollment Packets to their faculty and staff (those who currently have benefits).

• Contractual Employees & Retirees will receive Open Enrollment Materials to their home.

• We have a new Prescription Vendor:  Caremark/CVS Health effective January 1, 2018.  Employees currently enrolled in prescription drug coverage will automatically be enrolled with Caremark. 

• State Wellness Activities completed in 2017 will rollover to 2018.

• 2018 Premiums (Rates) are now posted on the HR website under Open Enrollment 
• Questions about Open Enrollment?  Please email hrbenefits@umbc.edu