Important Benefit Reminders for 2025
With the new year right around the corner, be sure to review this timely benefit news and information.
State Health Plan
- Any benefit election you made during Open Enrollment for the State Health Plan was effective on January 1, 2025. Remember to review your most recent paycheck to confirm that the plan you elected is accurately reflected, including the correct deductions. It is important to remember that deductions for health care are withheld one month in advance of the coverage effective date (i.e., deductions in December pay for coverage in January).
Remember, the State Health Plan transitioned to Aetna as of January 1, 2025. New Aetna Plan ID cards were mailed to your home of record in December for use for use with all medical and pharmacy services starting January 1, 2025. In addition, be sure to contact the phone numbers and websites listed on your new ID card if you have a question or need to file a claim in the new year. Note: Your 2024 ID card will no longer work after January 1, 2025.
NCFlex and University Benefits
• Any benefit elections you made during Open Enrollment for NCFlex and the University benefit programs take effect January 1, 2025. Remember to review your paycheck to confirm that the programs you elected are accurately reflected, including the correct deductions.
• Please read the information pertaining to the specific plans listed in this update, as it may affect your paycheck if you are enrolled in the benefits program being referenced.
UNC Voluntary Life Insurance and AD&D (Securian)
• If you are enrolled in UNC Voluntary Life Insurance through Securian, you may see a change in your deduction beginning with your January paycheck. Adjustments to your premium are made based on your age and base salary as of January 1, 2025.
Critical Illness and Accident Plans (Voya)
• If you are enrolled in the Critical Illness Plan through Voya, you may see a change in your deduction beginning with your January paycheck. Adjustments to your premium are made based on your age as of January 1, 2025.
• If you are enrolled in the Critical Illness and/or Accident Plan through Voya, don’t forget to earn your wellness benefit payment by completing an eligible health screening test. Each covered member can file for a wellness benefit payment once per calendar year.
Cancer and Specified Disease Plan (Allstate Benefits)
• If you are enrolled in the Cancer and Specified Disease Plan through Allstate Benefits, don’t forget to earn your wellness benefit payment by completing an eligible health screening test. Each covered member can file for a wellness benefit payment once per calendar year.
Health Care Flexible Spending Account (FSA)
• If you were enrolled in the Health Care FSA for 2024, eligible healthcare expenses must have been incurred by December 31, 2024. You have until March 31, 2025, to submit 2024 claims for reimbursement. You can rollover up to $610 of your unused account balance into 2025, as long as you have a minimum balance of at least $25. Any funds exceeding this amount will be forfeited. The rollover will not count toward the 2025 maximum election amount (currently $3,200 for 2025). This rollover feature only applies to the Health Care FSA.
• If you enrolled in the Health Care FSA for 2025, eligible healthcare expenses must be incurred January 1 through December 31, 2025, to be eligible for reimbursement. You have until March 31, 2026, to submit claims for reimbursement.
Dependent Day Care Flexible Spending Account (FSA)
• If you were enrolled in the Dependent Day Care FSA for 2024, eligible dependent day care expenses must be incurred by March 15, 2025, provided you remain actively employed through December 31, 2024. You have until March 31, 2025, to submit 2024 claims for reimbursement. Any unused funds will be forfeited.
• If you enrolled in the Dependent Day Care FSA for 2025, eligible dependent day care expenses must be incurred January 1, 2025 through March 15, 2026, to be eligible for reimbursement. You have until March 31, 2026, to submit claims for reimbursement.
Retirement Program
2025 Contribution Limits
- The limit on contributions to a 403(b)/401(k) plan for 2025 is $23,500. If you are over the age of 50, or will turn 50 by December 31, 2025, you are eligible for an additional $7,500 catch-up contribution.
- The limit on contributions to a 457(b) plan for 2025 is also $23,500. If you are over the age of 50, or will turn 50 by December 31, 2025, you are eligible for an additional $7,500 catch-up contribution.
Employee contributions to a 403(b) and 401(k) plan are combined together when determining your maximum contribution; however, employees can maximize saving opportunities by contributing to a 457(b) plan. Amounts contributed to a 457(b) plan are not combined with your 403(b) and/or 401(k) contributions when determining your maximum contribution limit.
Form 1095-C
Under the Affordable Care Act (ACA), employers are required to report any qualifying medical coverage that you and your dependents were enrolled in during the previous calendar year. You will receive a Form 1095-C which includes information about the health coverage offered to you by the University. The form will be mailed to your home address sometime in the first quarter of 2025. You will not need to attach or file your Form 1095-C with your 2024 Federal income tax return; however, you may need to use its information when you complete your tax return.
Questions?
Please contact your University Benefits Administrator if you need assistance or have questions about the benefit plans you have enrolled in.