2005 Benefits New Year's Resolutions

1. I will review each paycheck stub or SurePay statement (but especially the first one for 2005) to ensure my benefit elections are correct. For example, if I changed medical plans during Open Enrollment, I will verify that the plan I selected is shown. While I'm at it, I will also double-check my other benefit deductions. The longer a mistake goes uncorrected, the harder it is to correct and, sometimes, it can't be fixed at all.

2. I will remember that if I get married or have a baby during 2005, benefit coverage for my new family member(s) is NOT automatic. I ONLY have 31 days from marriage or birth to fill out the form that will add my new dependent(s) to my medical, dental and vision plans. If this 31-day window is missed, the new dependent(s) will NOT HAVE COVERAGE!

3. I will "enroll" in the tax-deferred 403(b) and/or 457(b) savings plan(s) and start saving for my retirement. Start small if you have to, but start.

4. I will increase my tax-deferred savings contributions to take advantage of the higher maximums for 2005: $14,000, or $18,000 if age 50 by Dec. 31, 2005. It's a good idea to maximize pre-tax savings opportunities like this one before using after-tax savings options.

5. I will take advantage of the tax savings available through the Scholarshare program and open an account for a child. Go to the UC-specific Web page to learn more.

6. I will check out how quick and easy it is to get an estimate of retirement earnings. Go to http://atyourservice.ucop.edu, click on Your Benefits Online, sign in with your Social Security number and UC PIN, click on Your Benefits Summary and finally click on the Retirement button on the left-hand side just under Instructions.

7. If I have at least 15 years of UC employment as of Dec. 31, 2004, I will find out more about the Special Catch-up provision of the 403(b) plan that permits me to contribute more than the maximums listed in #4 above. To find out if you are eligible, call the campus Benefits Office at extension x42816 and ask for your department's Benefits representative.

8. I will find out about and use my medical plan's mail order program for my maintenance prescription drug needs. This program saves time and money. A maintenance drug is one you take regularly for a chronic condition like heart disease, high blood pressure, arthritis or diabetes.

9. If I have predictable out-of-pocket health care expenses not covered by insurance, and I didn't enroll in the Health Care Reimbursement Account (HCRA) for 2005, I will make it a point to learn more about this plan and consider enrolling for 2006. Go to http://www.shps.net/myshps for more information.

10. When my child reaches age 23 this year and is no longer an eligible dependent for my UC medical plan, I will not assume COBRA continuation is my only option. A healthy 23-year-old can usually buy individual health care coverage on the open market at considerably less cost than by continuing a UC plan through COBRA. A little research can save you money. Here are a few places to start: Kaiser - 1-877-624-9682; Blue Cross - 1-877-624-9682; http://www.insure.com. Final Note: Visit https://ucfy.ucop.edu for an online, hassle-free way of updating your personal information in the UC payroll system. Change your home address, home telephone number, income tax withholding and UC PIN, among other things. Happy New Year from the UCSD Benefits Office, Human Resources Department!