Reviewing your check stub is vital for the new year! Here’s some information on what to check on your check.
State Health Plan (SHP) Premium Deductions
Your benefit election made during Open Enrollment for the SHP becomes effective Jan. 1, 2023. However, the deduction begins with your December 2022 check. Make sure your SHP deduction matches the plan you’ve chosen. If you’ve elected the Enhanced PPO Plan (80/20) in 2022 and neglected to re-enroll, then your coverage has shifted to the Base PPO Plan (70/30) for 2023. Therefore, you will see a difference in the premium amount deducted from your December check.
NCFlex and University Benefits Premium Deductions
The premium deductions for the NCFlex and University benefit plans – for elections made during Open Enrollment – are effective January 2023. Biweekly employees will see these deductions in their Jan. 13, 2023, check and it will occur in the January 31, 2023, check for monthly employees. In addition, be mindful of premium changes based on policy and plan rules:
- NCFLEX Voluntary Group Term Life Insurance (VOYA) & Critical Illness (VOYA) plans: Your age on Jan. 1, 2023, will affect your premium amounts; therefore, expect an adjustment.
- UNC Voluntary Life Insurance (Securian): Expect a rate deduction up to 12 percent starting with the January 2023 check. Any premium adjustments due – based on your age and salary as of Jan. 1, 2023 – will occur in April 2023.
- Remember: Effective Jan. 1, 2023, the NCFlex Voluntary Life Insurance and Voluntary AD&D plans will no longer be offered. If you were enrolled in these plans, then your applicable NCFlex plans will be mapped to the UNC Voluntary Life plan and the Voluntary AD&D plan.