Open Enrollment

Open Enrollment

Open Enrollment 2015 is now closed.

Highlights for 2015

  • Premiums: Whether you are a member of the Traditional or Choice Plan, your share of the medical premiums will average 2.4% higher in 2015 than in 2014. While rising medical costs continue to be a concern for the Institute and our employees, the 2.4% increase is the lowest in recent years. Dental and vision premiums will not increase at all in 2015. In even better news, supplemental life insurance premiums will decrease by more than 20%. And, dependent life premiums for your spouse/domestic partner and children will decrease by more than 13%.
  • No copayment changes: Copayments for medical visits will remain the same: $10 for a visit at MIT Medical and $20 for a visit within the Blue Cross Blue Shield network outside MIT Medical.
  • Prescription drugs: Copayments for prescription drugs will also remain the same for the majority of medications. A small number of brand name medications will have a higher copayment as they move from the "preferred brand" category (Tier 2) to the "non-preferred brand" category (Tier 3). In addition, the list of drugs covered by MIT’s medical plans—called the formulary–will be modified slightly in 2015 to exclude selected high-cost drugs when there are equally effective and less costly options available.
  • Health Care Flexible Spending Account (FSA) Reminder: Effective January 1, 2015, you can "carry over" up to $500 in unused 2014 Health Care FSA funds into your 2015 Health Care FSA. You will forfeit any unused balance over $500. The new carryover provision replaces the 2½ month grace period provision that allowed you to use your remaining FSA funds from the past year to pay expenses incurred during the first 2 ½ months of the next year.

Read about other Open Enrollment changes.

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