UK Employee Benefits 2012-13: Quick Tips,
What You Need to Know
The University’s benefits plan year begins July 1 and ends June 30. The start of a new plan year is a great time to review your current enrollment and begin planning to take advantage of other benefit options.
Below, we’ve provided a few tips to help you make the most of the 2012-13 plan year (Note: These tips also apply to new employees in their early days on the job):
Check your UK pay stub/statement in July or as soon as possible to verify any enrollment changes you requested during the April-May Open Enrollment period.
Review the benefit selections, levels of coverage (example: employee, employee + spouse, employee + family and so on) and deductions. If you kept a copy of your enrollment (form or “Participation Overview” printout from myUK Employee Self-Service online), you may request a correction.
Ready? Simply log on to myUK Employee Self-Service online to review your UK pay statement and current benefits enrollment. Or, click here for step-by-step instructions.
Contact the Employee Benefits office with any questions: Call us at (859) 257-9519, option 3 or e-mail us at firstname.lastname@example.org.
Familiarize yourself with plan features and coverage. The more you know about your health, dental and/or vision plan coverage and copayments, the better. Some plan features and copayments change from year-to-year, so it’s worth your time to review your coverage at the beginning of each year.
Consider benefit changes you may make at any time. You can make the following changes any time throughout the year: Decrease optional life insurance, start, stop or adjust voluntary retirement contributions, check out UK discounts on auto or home insurance, and change life insurance or retirement plan beneficiaries.
Make note of important deadlines for UK’s popular Employee Education Program and Family Education Program. These programs are among the University’s most popular benefits. Thousands of our employees and their eligible dependents take advantage of free or discounted UK tuition each year. Click here for upcoming program deadlines and for more details about these programs.
Be aware of qualifying events that may allow you to update benefits before the next Open Enrollment period. The table below summarizes qualifying life events and related documentation requirements.
Qualifying Life Event
|Birth or adoption||Copy of proof of birth from hospital or copy of adoption papers|
|Marriage||Copy of marriage certificate and front page of tax return. (birth certificate for the coverage of step-children)|
|Divorce||Copy of final court decree|
|Employment status of Employee||Statement on company letterhead stating changes (with begin and end dates)|
|Employment status of Spouse||Statement on company letterhead stating changes (with begin and end dates)|
|Open Enrollment Period for Spouse's Employer||Statement on company letterhead stating open enrollment change with effective date.|
Start thinking about the next Open Enrollment period, which will take place in April-May 2013. It's never too early to plan, after all. As the year progresses, consider whether your current levels of coverage meet you and/or your family's needs. And if you're considering major life or career changes in the next couple of years, think about how your benefits package can best support that transition.
In the meantime, we look forward to administering your University of Kentucky employee benefits package during 2012-13. If you have questions or feedback, please let us know.