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Is it time for a benefits check-up?

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Now that we’ve entered FY2018, it is a good time to take a look at your current benefits plans to make sure they still meet your family’s needs. Below are a few questions to ask yourself during your benefits check-up. To review your current benefits, log in to My VUMC Benefits using your VUnetID and password.

Do I have new medical needs that require me to change health plan options?

VUMC offers three health plan options: Plus, Select and HealthFund. The health plan options differ in how much the employee is required to pay for premiums, coinsurance deductibles as well as the limits to how much employees will pay out-of-pocket. You can compare health plan options here. Remember: you can only change your health, dental or vision plan if you have a life event or during Open Enrollment, which takes place each fall. 

Should I change the amount I contribute flexible spending accounts (FSA)?

Flexible spending accounts (FSAs) let you pay for many of your out-of-pocket health or dependent day care expenses with tax-free dollars. The maximum amount you can contribute to a health care FSA is $2,550 for 2017. The maximum you can contribute to the dependent day care FSA is $5,000 for 2017. FSA funds do not carry over from year to year. If you participate in an FSA during one plan year, and you want to continue the FSA for the next plan year, you will need to elect an FSA during Open Enrollment. You have until March 15 of the following calendar year to use your FSA funds. Any unused funds will be forfeited.

Do I have enough life insurance?

VUMC provides life insurance coverage for fully benefits-eligible employees of one times their annual salary. You can purchase supplemental coverage of one, two or three times your salary, up $1 million. You can request an increase at any time by visiting My VUMC Benefits and completing a Statement of Health. Your new coverage would begin the first of the month after your Statement of Health is approved by MetLife.

Am I making the most of my 403(b) retirement contributions?

After one year of employment, you are automatically enrolled in the VUMC 403(b) retirement plan at a mandatory contribution rate of 3 percent of your annual salary (6.47 percent for VMG faculty). VUMC matches the first 3 percent dollar-for-dollar. VUMC will also match voluntary contributions above the mandatory 3 percent (6.47 percent for VMG faculty) as long as you contribute at least 2 percent voluntary (Total matching tops out at 5 percent). To change your contributions, click here.

How would I make up for lost income if I become chronically ill or disabled?

Short-term disability insurance provides a benefit of up to six months if you become disabled or must miss work due to an extended illness. After you have been with VUMC for a year, VUMC pays for base short-term disability insurance, which covers 66.7 percent of your weekly wages on the first $24,000 of your annual base salary with a two-week waiting period. You can pay for enhanced coverage, which pays 66.7 percent of your covered base salary. Visit the HR website for more information. 

For frequently-asked-questions and an A-to-Z guide to VUMC benefits, visit