2020 Benefit Premium Deductions
December 4, 2019
Are you wondering when your paycheck will reflect your 2020 benefit premiums? Or when deductions for your 2020 Flexible Spending Account (FSA) and/or Health Savings Account will begin? If so, continue reading.
Health, Dental, Vision and Accident Insurance Premiums
State Group Health and Dental Insurance premiums are increasing slightly for 2020. Insurance premium deductions for 2020 will begin on the following paycheck dates:
Reminder: Vision Insurance premiums are not changing for 2020.
Flexible Spending Account (FSA) and Health Savings Account (HSA) Contributions
If you enrolled in an FSA and/or HSA for 2020, your first contribution will be on your January 2, 2020 paycheck.
Individual & Family Life Insurance and UW Employees, Inc. Life Insurance Premiums
If you will be in a new premium age category as of January 1, 2020, your premium will change on the following paychecks:
If you increased your coverage for the Individual & Family Life Insurance Plan during the Annual Increase Option period, your premium will also change on these paycheck dates.
Accidental Death & Dismemberment (AD&D) Insurance Premiums
If you enrolled, changed coverage levels or disenrolled during the Annual Benefits Enrollment, your premium will change on the following paychecks:
Income Continuation Insurance (ICI) Premiums
The ICI premium will increase by 20%, effective February 1, 2020. Your premium will increase on the following paychecks:
Wisconsin Retirement System (WRS) Contributions: Employee and Employer
The WRS employee and employer contributions for 2020 will increase for most employees from 6.55% to 6.75%. This includes protective employees with Social Security. The increase will occur on the January 2, 2020 paycheck for all employees.
Source: UW System Human Resources
Categories: Payroll