Benefits Bulletin March 2023

Welcome to the Benefits Bulletin!

Our goal with this monthly newsletter is to communicate benefit changes and keep you up-to-date and informed on approaching deadlines.

Saving is an important part of finances for all employees. America Saves campaign is offering a workshop titled “6 Steps To Establishing A Spending and Savings Plan.” This workshop will help you gain a clearer view of your finances, aid in setting financial goals based on your lifestyle, and includes tools to create a personal budget. To register click here. This workshop is provided by the America Saves which is a campaign managed by the nonprofit Consumer Federation of America and was part of the America Saves week February 27th-March 3rd.

The Virginia Retirement System also sent out resources as part of the America Saves Campaign. Employees can access these resources in their “Financial Wellness” located on their member resources site in VRS.

March Featured Benefit

This month's featured benefit is...

Shared Savings Incentive Program

COVA Care, COVA HDHP, and COVA HealthAware members are eligible to participate in the Shared Savings Program. These programs offer cash rewards to members when they shop for better-value health care services. Since prices for in-network, high-quality procedures can vary, Shared Savings allows you to shop for medical care, compare costs, and earn a reward as a share of the savings.

COVA Care and COVA HDHP Participants:

Use SmartShopper to compare in-network prices for 100+ procedures. How does it work?

• Compare prices and rewards by shopping online or calling the Personal Assistant Team at 844-277-8991
• Schedule your appointment, or let the Personal Assistant team do it for you
• Earn your reward by having your appointment within the year

COVA HealthAware Participants:

Use the Informed Rewards Program to choose a lower-cost medical service and qualify for a financial reward. How does it work?

• Visit www.aetna.com and log into your Aetna member website
• Search for service in the “Find Care & Pricing” section
• Identify eligible service and activate your rewards

Virginia State Employee Assistance Fund

Have you experienced a financial crisis or an unforeseen emergency/event? The Virginia State Employee Assistance Fund (VSEAF) provides grants to eligible state employees suffering from such events. VSEAF is an established 501c(3) charity member of the Commonwealth of Virginia Campaign (CVC). Grants are typically fulfilled up to $500.00 and do not need to be repaid. Examples of situations that would be covered would be fire to home or property or unforeseen costs due to death or illness of a loved one. The grant will not cover medical costs covered by insurance or rising costs of gas or home heating. For more information or to apply for a grant, visit the VSEAF website.

Upcoming Benefits Training: Retirement 101: Understanding your VRS Retirement

Are you contemplating retirement? Have you set a retirement date? What do you do next? What benefits will you receive? What is the timing on paperwork? Come to Retirement 101 and learn the answers to all of these questions and more! Learn about your retirement options through the Virginia Retirement System (VRS), discuss the impact on benefits when you retire, and learn how myVRS and Human Resources can aid in retirement planning.

Retirement 101: Understanding Your VRS Retirement (TD1212) Friday, April 7, 9:00 a.m. – 11:00 a.m.

Register with course number TD1212 in MyMadison.

Virginia Retirement System Member News

Be sure to read the latest issue of Member News from VRS. Included in this issue is information regarding America Saves Week, increases to IRS deferred compensation contribution limits, and ensuring online account protection. Subscribe to Member News directly for the latest updates.

Need to talk with an expert?

• March 22 - MissionSquare, Janice Parker - Online scheduling or jparker@missionsq.org
• March 24 - Fidelity, Punchai Paul Vutiprichar Fidelity scheduling or 800-642-7131 (virtual appointments)
• March 28 - FIRM, Philp Harris - scheduling Online
• April 5 - AFLAC, Michael Glover - michael_glover@us.aflac.com or 540-997-3201

Present at the 2023 Balanced Dukes Conference

Balanced Dukes invites you to share your wellness knowledge, research, and professional experiences with our faculty & staff by presenting a session at the Balanced Dukes Conference on May 2, 2023!

Balanced Dukes is the work-life integration program for faculty and staff at JMU. We are seeking presenters to deliver highly interactive sessions with real-world application to provide attendees with tools, strategies, and techniques related to any of the 8 dimensions of wellness: Emotional, Environmental, Financial, Intellectual, Occupational, Physical, Social, and Spiritual.

You can learn more about the Balanced Dukes program here.

We have extended to deadline to submit a proposal - all proposals are now due by March 17, 2023.

Submit Your Proposal Here

Benefits Open Enrollment Coming in Early May

Open Enrollment for health benefits and flexible spending accounts (FSAs), as well as many voluntary benefits, will be held May 1 – May 15. Stay tuned for more information!

THANK YOU FOR READING!

This bulletin has been brought to you by the JMU Benefits Team. If you have any questions or would like to reach out to us, please give us a call at 540-568-3593, visit us on the web at www.jmu.edu/humanresources/benefits, or email us at benefits@jmu.edu. Look for the Live Chat on our website and reach one of us instantly!