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Looking Ahead: Annual Enrollment for Your BMC Benefits Begins November 4
Health Care Reform and BMC
Right now you’re probably seeing a lot of news and ads about health insurance marketplaces or exchanges. Health insurance exchanges are a big part of the Affordable Care Act (ACA) — also called Obamacare or Health Care Reform — signed into law in 2010. Beginning January 1, 2014, the largest part of the ACA, the individual mandate, goes into effect, and it changes U.S. health care in a number of ways: Read More...
Striving to Live a Healthy Life
Engaging, fun-loving, organized. Passionate about wellness and striving to live a healthy life. Known among my peers as a natural leader with a knack for motivating others. Enthusiastic and a good communicator. Seeking a one-year commitment.
If this sounds like a personal ad about you, we might have a new role for you here at BMC. The BMC Wellness Program will soon begin recruiting Wellness Champions to incorporate wellness programs into the day-to-day employment experience at BMC. Watch for details about this exciting new role in an upcoming issue of Benefits eNews.
Be the First to Know with
Text Alerts from BMC Benefits
Sign up to receive text alerts and never miss an important benefits or wellness update. From enrollment reminders to important 401(k) information and benefits updates, you can be the first to know when your attention or action is required. To subscribe, text BMCBENEFITS to 25827 from your phone. Message and data rates may apply.
Don’t worry about being flooded with messages. The Benefits team will send only important reminders. And, you can always unsubscribe from this list by replying STOP BMCBENEFITS to 25827.
HSA Contribution Limits
Will Increase for 2014
Each year, the Internal Revenue Service sets a limit on the before-tax contributions you can make to a Health Savings Account (HSA). For 2014, you can contribute $3,300 (individual) or $6,550 (family) to a HSA. The catch-up contribution will remain the same at $1,000 if you are or will turn age 55 or older in 2014. These limits include BMC contributions to your account.
2014 | 2013 | ||
---|---|---|---|
Contribution Limit (Yours and BMC’s) | Employee-Only Coverage | $3,300 | $3,250 |
Other Coverage Levels | $6,550 | $6,450 | |
Catch-Up Contributions (age 55 or older) | $1,000 | $1,000 |
Good to Know
- You can change the amount you contribute to your HSA as many times as you want during the year. You’re not locked into the contribution amount you elect during annual benefits enrollment.
- Watch this video to learn more about the BMC Health Savings Account.
The “How-To's" of Tuition Reimbursement
College courses are a great way to enhance your job-related knowledge and skills or prepare for possible advancement at BMC. With prior manager approval, the BMC Tuition Reimbursement Program may reimburse you for certain tuition expenses for undergraduate and graduate level college courses up to the annual $5,500 cap. If taking a college course is in your future and you want to submit your eligible expenses for reimbursement, here’s what you need to know and do.
- Before you register for courses, discuss the relevance of the course with your manager and complete the pre-approval process on the Your Spending Account (YSA) website. YSA will generate a pre-approval form that your manager and director must sign. You must submit the signed pre-approval form to YSA before the course start date to receive reimbursement for eligible expenses.
- To receive 100% reimbursement, you must successfully complete the course with a passing grade of "C" or above ("B" in the case of some graduate schools).
- Once you complete the course, visit YSA and submit a tuition reimbursement request. Attach a copy of your grade report for the course and payment receipt to your form. You must submit your request to YSA within 90 days after the course end date to receive reimbursement for eligible expenses.
For detailed information, read this How to Request Tuition Reimbursement step-by-step guide.
Good to Know
- The Tuition Reimbursement Program doesn't cover expenses for professional development, certificate courses or seminars. Submit an expense report to receive reimbursement for non-college course fees.
- Questions about your claim? Call YSA at 1-877-BMC-4849, Option 2–Your Spending Account.
Get the Maximum Fitness Expense Benefit
At BMC, it pays to work out. The BMC Fitness Reimbursement Program provides up to $225 per calendar year to help pay for fitness activities outside your home. But to receive the maximum annual benefit, you need to follow program rules when you submit your claim.
- The program accepts only one claim per employee each year. So, you’ll want to hang on to your receipts or pay stubs until your expenses reach $225 or more before you submit your annual claim.
- When you submit a claim for partial expenses at any time during the year, you’ll be reimbursed only for the amount of that claim. Your Spending Account, the program administrator, will not accept any other claims from you later in the year.
For detailed information, read this How to Request Reimbursement for Fitness Expenses step-by-step guide.
Scholarship Program Accepting Applications for 2015
The 2015 BMC Software Scholarship Program is now accepting applications for high school juniors who will enter college in the fall of 2015. Each year, BMC Software offers up to six college scholarships to sons and daughters of BMC employees. Winners are selected in conjunction with the National Merit Scholarship Corporation and receive a maximum award of $2,500 per year for up to four years of undergraduate college study. Read about the 2015 program and how to apply.
Enrollment Prep: Are Your Beneficiaries Up-to-Date?
Annual benefits enrollment is a good time to review your beneficiary designations. If you don’t, you could create a situation where your ex-spouse inherits assets meant for your current spouse, or children born after your initial beneficiary designation are left with no inheritance.
To check or update your beneficiaries:
- To make changes to your life and accidental death and dismemberment (AD&D) insurance beneficiaries, go to Your Benefit Resources and click on the Beneficiaries link under the Health and Insurance tab. Or, you can also call the Benefits Center at 1-877-262-4849 and select Your Benefits Resources when prompted.
- To make changes to your BMC 401(k) Savings Plan beneficiaries, go to Fidelity NetBenefits. From the main page, click on the Beneficiaries link under My Profile.
Consolidate and Conquer
If you have more than one 401(k) account, you might want to consider consolidating your accounts with one provider. Why consolidate? A single account may provide the opportunity for more effective management of asset allocation and diversification, potentially lower fees, higher service levels, and more. Read More…