2021 Benefit Premium Deductions
December 14, 2020
Are you wondering when your UW System paycheck will reflect your 2021 benefit premiums? Or are you wondering when deductions for your 2021 Flexible Spending Account (FSA), Health Savings Account (HSA) and/or Parking and Transit Accounts will begin? If so, continue reading.
Health, Dental, Vision and Accident Insurance Premiums
Below are the paycheck dates that will start 2021 deductions:
Reminder: State Group Health Insurance premiums (for most plans) and Accident Insurance premiums will increase slightly for 2021. Dental Insurance premiums will remain the same. Vision Insurance premiums will decrease slightly.
Flexible Spending Account (FSA), Health Savings Account (HSA) and Parking & Transit Accounts
If you enrolled in an FSA, HSA and/or Parking & Transit Account for 2021, your first contribution will be on the following paycheck (based on your pay frequency):
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, 2021, your premium will change on the following paycheck (based on your pay frequency):
Your premium will also change on the paycheck dates listed above if:
Accidental Death & Dismemberment (AD&D) Insurance Premiums
If you enrolled, changed coverage levels or disenrolled through Self Service during the Annual Benefits Enrollment, your premium will change on the following paychecks (based on your pay frequency):
Income Continuation Insurance (ICI) Premiums
ICI premium rates will remain the same for 2021. However, if you have an earnings category change or a sick leave category change (university staff plan only) your premium may change depending on your situation. Premium changes will occur on the following paychecks (based on your pay frequency):
Wisconsin Retirement System (WRS) Contributions: Employee and Employer
The WRS employee and employer contributions for 2021 will remain at 6.75% for most employees.
Source: UW System Human Resources
Categories: Insurance