April 11, 2023

This quarterly newsletter contains updates and information related to SPPS insurance benefits and offerings, workers’ compensation, wellness, and more! Questions about benefits or wellness can be directed to benefits@spps.org.

Action Items in This Issue




TAX SEASON - HOW YOU CAN SAVE

Did you know you can offset your taxable income (i.e. reduce what you owe to the IRS) by contributing more toward your retirement? Beyond your pension, contributions to a 403(b) or 457 account can help you retire more comfortably.


There are roughly 18 pay periods remaining in 2023 (14 if you’re a 10-month employee), and you can contribute from each of those paychecks. Your contributions are also eligible for a match from SPPS! The minimum match starts at $1,000 for full-time employees - you can find out more about what your match can be by reviewing the “TSA Match” section for your Union group on the Benefit Summary by Bargaining Unit.


The District will also match contributions 1:1 each check, up to the match limit, each calendar year.  


Not sure if you’re contributing, or how much you’re contributing? Review your pay stub in Employee Self-Service to check your current contribution. (Tip: for help understanding your pay stub, click here.) 


If you want to review how these contributions would look on your check before you sign up, you can also use the Paycheck Modeler tool under Employee Self-Service → Payroll (ePay) → Paycheck Modeler.


Ready to sign up? Click here to go to the TSA (Tax Sheltered Accounts) page, read through the information, and find the appropriate paperwork to complete under “Forms” on the right side of the page. Once complete, submit them to payroll@spps.org. 

PRIZE GIVEAWAY


Those who sign up to contribute to a TSA account or increase their deductions between April 10 to April 21 will be entered into a raffle to win one of 5 new budget binders and supplies!

Using your Flex Spending Accounts (FSA/DCFSA/HSA)

Flexible spending is elected during open enrollment each fall, and is a pre-tax savings account you can use to pay for your qualifying out-of-pocket medical expenses or for daycare expenses.


FSA: (Flexible Spending Accounts) can be used for qualified medical expenses (things you pay for your health care). It could be for your prescription medicines, copays, coinsurance, deductibles and more. Read more about what qualifies, and what is not covered on page 2 of the form. Flexible Spending Accounts are use-it or lose-it funds, so make sure you submit reimbursements timely!


DCFSA: (Dependent Care Flexible Spending Accounts) can be used for daycare expenses for your children under age 13, but also for anyone considered your dependent for income tax purposes, such as a disabled parent. Read more about what qualifies, and what is not eligible for reimbursement on page 2 of the form. Dependent Care Spending Accounts are use-it or lose-it funds, so make sure you submit reimbursements timely before December 31!


HSA: (Health Spending Accounts) can be used for qualified medical expenses, and have the option for investment and ongoing savings. Optum Bank is the current provider for SPPS, and issues a debit card for you to use at the pharmacy or doctor’s office. You can contact Optum for more information or a replacement debit card by using the contact info on their website. HSA Accounts are yours to keep! Whether you leave the District or retire, the funds are yours. This makes it an additional way to save for retirement or bigger medical procedures.

COVID Emergency Declaration to End


While COVID-19 is here to stay, the National Emergency related to COVID is set to expire by Presidential Order on 5/11/2023. This may mean changes in how testing, vaccinations, and treatment are covered by insurance. Stay tuned for additional information to be released when available.

BINGO: Benefits Lingo!


DEDUCTIBLE


The amount you pay for health care services (doctor appointments, prescriptions) before your insurance plan starts to pay. 


After you meet the deductible, you usually pay a copay or co-insurance for covered services, and your insurance company pays the rest. 


When choosing an insurance plan, making sure to review the deductible is an important part of determining the affordability of the plan.

Wellness Opportunities for SPPS Employees


The Benefits and Wellness Departments at SPPS are pleased to be bringing back some of the wellbeing opportunities for employees.


Please sign up or use the links below to join in and get started on your physical, mental and emotional wellbeing.


Upcoming Highlights: 


On-Demand Resources: 


IMPORTANT FORMS & RESOURCES

988 Mental Health Crisis Lifeline Resource


Employee Assistance Program (EAP): Get free, confidential help for things like mental health, work/life balance, legal/financial resources, medical advocacy, discounts, and much more! 


Student Loan Forgiveness Information


Workers’ Comp First Report of Injury Form 

SPPS Benefits archive can be found here.


SPPS Benefits Newsletter is a quarterly e-newsletter. Questions or comments regarding the contents of this newsletter or any SPPS benefits can be directed to benefits@spps.org.

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