Dear Faculty and Staff,
UVM is committed to offering employees high-quality benefits at reasonable costs. In 2023, there will be no premium increases to any UVM benefits with the exception of the medical plan. Details about UVM benefits are outlined below.
Medical premium increase of 13.9%. For many years, the average UVM annual increase has been below 7%. In 2021 there was no premium increase and in 2022 there was a minimal increase of 5.9%. The increase to 13.9% in 2023 is the result of increased utilization and claims due to a rebound from previously postponed services (due to COVID-19), general inflation, and recent and projected hospital cost increases which have been widely reported. UVM is not alone in experiencing increases. Most Vermont employers will experience double digit cost increases for 2023, and many will be much higher than the UVM PPO plan increase. What will not change are the same comprehensive coverage, low deductibles, and low co-pays that employees have been able to access through the UVM plan. More information about the increase is available in this FAQ sheet. Employees are encouraged to attend the Benefits & Wellness Fair on November 16 to speak with benefits advisors and BCBSVT representatives (information below).
Examples of monthly medical premium increases
| Monthly $ Increase from 2022 to 2023 for Non-represented & UVM Staff United |
||||
|---|---|---|---|---|
| Medical with 13.9% increase | $40-50K | $70-80K | $100-110K | $150K+ |
| Employee Only | $17.68 | $26.53 | $35.37 | $44.21 |
| Employee + Spouse | $35.37 | $53.05 | $70.74 | $88.42 |
| Family | $51.02 | $76.53 | $102.04 | $127.55 |
Dental High Option 0% increase. The High Option Plan has significantly more benefits coverage and employees continue to pay well below what most employers charge. The Base Option Plan remains no cost to employees.
All other benefit plans 0% increase. This includes life insurance, long-term disability, vision, and voluntary short-term disability.
Online Enrollment in PeopleSoft. Most 2023 open enrollment benefit elections will be available for review and election changes within PeopleSoft Self-Service. This includes medical, dental, vision, short-term disability, and flexible spending (both health and dependent care). Changes to life, long-term disability, and retirement plans (403b/457b/Retiree Health Savings) will continue to be communicated via a paper form submitted through the UVM file transfer service to Human Resource Services at HRSInfo@uvm.edu.
Open Enrollment is November 7 through December 2. This is the only time of year that employees can add, drop or change their UVM benefits without experiencing a qualifying event. You do not need to re-enroll if you do not want to change any of your benefits except with Flexible Spending Accounts (FSA) which require annual re-enrollment. A full summary of 2023 benefits enrollment is located on the Employee Benefits website and in the Employee Benefits Guidebook (pdf).
Benefits & Wellness Fair: Wednesday, November 16, from 8:00 a.m. through 3:00 p.m. (Dudley H. Davis Center Silver Maple Ballroom, 4th floor). Benefit advisors and representatives from BCBSVT, Delta Dental, and other vendors will be present to answer your questions. This will also be the last on-campus opportunity for employees to receive a flu shot from UVMMC health care professionals. Employees must pre-register online to receive a flu shot. There will be fun giveaways and free hot chocolate. Visit the Employee Wellness website for more information about the event and flu shot registration.
IMPORTANT: Most plan enrollment or changes will occur online in PeopleSoft. For those that require forms, all forms must be submitted to Human Resource Services (HRS) via secure file transfer, or email to HRS between Monday, November 7 and Friday, December 2 no later than 4:30 pm. If you have any questions, please contact HRS at HRSinfo@uvm.edu or call 802-656-3150.