Section 125/AFLAC Notice
The College offers a Section 125 option, allowing eligible staff members to pay with pre-tax dollars eligible out-of-pocket health care and/or child care costs. Participating employees can elect to set aside up to $2,550 for health care expenses and/or up to $5,000 for child care expenses on an annual basis. If you have a qualifying event, you may make changes to that amount. In late 2013, the IRS relaxed the “use it or lose it rule”. Participants who have $500 or less left over for 2015 can roll-over that amount and use those funds for eligible expenses in 2016.
Employees who want to continue or to begin setting aside pre-tax dollars through payroll deductions for unreimbursed medical expenses and/or child care MUST sign an election form for 2016 to continue or change their deduction. If a new election form is not signed during the designated enrollment period, no deductions may be made for unreimbursed medical or for child care expenses. If you are not presently participating in or choose not to participate in the Section 125 Plan, there is no need to attend a meeting for sign up.
If you are unable to attend a signup, you will need to make an appointment with Heartland Benefit Plans (697-2200) to sign your Salary Direction Agreement. You will not be able to sign up through the Benefits office.
The College’s health plan does not coordinate benefits with any of the other policies offered by AFLAC. Payment is made above and beyond the regular benefits payable under our health plan.
For your convenience, we are providing election sign-up times and locations as follows:
- North Campus (Room A120 – Arbor Hall)
- Monday, November 2, from 8 a.m. – noon
- East Peoria Campus (Room 211A)
- Tuesday, November 3, from 8 a.m. – 4:30 p.m.
- Thursday, November 5, from noon – 5:30 p.m.
- Friday, November 6, from 8 a.m. – 4 p.m.
- Downtown Campus (Thomas Room 202)
- Wednesday, November 4, from 10 a.m. – 2 p.m.
For additional information, call Angie McElyea, Ext. 5398, or Tim Anderson, Ext. 8911.