Bentley continues to closely monitor updates about the coronavirus (COVID-19) across the globe. We've compiled benefit information here to provide you and your family with support and resources during this time.
As a reminder, there is also a COVID-19 page to answer faculty and staff questions about the virus and Bentley's response to it.
The global COVID-19 pandemic is an unprecedented event for most of us. As it unfolds, we may find that our collective stress and anxiety has increased. If your personal worry becomes disruptive, please remember KGA, our EAP provider, has experienced counselors available 24/7 and can provide confidential virtual counseling via phone, video or live chat. Contact KGA 24/7 at 800-548-9557 or My.KGALifeServices.com or email firstname.lastname@example.org.
KGA’s COVID-19 Resource Page offers:
The Daily Break: daily live stretch breaks (15-minutes) and meditation sessions (10-minutes).
- Support for children and elderly
- Working remotely
- Managing remotely
A 3 part video series "Managing Anxiety In the Age of Coronavirus" under Self Care.
Bentley has adopted the following CARES Act provisions for our retirement plan:
- Penalties and withholding are waived for qualified distributions from retirement plan accounts
- Retirement plan loan limits have been increased and loan repayment deferral options available
What does this mean for you?
We know that keeping you and your family healthy and safe amid the challenges surrounding COVID-19 needs to be your first priority. That’s why we’re working with our retirement plan partners to break down the provisions in the act to make them easier to understand so you can determine if they may be right for you.
Retirement plan withdrawals and loans
Who is eligible?
You are considered eligible to take distributions/loans from your retirement plan if any of the below conditions are met:
- You have been diagnosed with COVID-19 by a test approved from the Centers for Disease Control and Prevention
- You have a spouse or dependent who has been diagnosed with COVID-19
- You suffer financial consequences as a result of quarantine, employment furlough, layoffs, reduced work hours or cannot work due to lack of child care as a result of coronavirus
- You experience a financial loss to an individually owned or operated business that is caused by a closing or reduction of hours due to coronavirus
- Other factors as determined by the Secretary of the Treasury or his delegate
How can the act help if you are eligible?
Penalties and withholding are waived for qualified distributions from retirement plan accounts
Provided the above eligibility criteria are met, the CARES Act waives the 10% early withdrawal penalty and eliminates the 20% withholding for coronavirus-related distributions of up to $100,000 across qualified retirement plans and IRAs. Note: While the 20% withholding will not be taken from distributions, you will have the option to add withholding if you want.
Distributions will be subject to taxation, and you will have the option to pay taxes due over a three-year period. We suggest you consult with your personal tax advisor.
The act also allows you to reinvest withdrawn funds within three years regardless of that year’s contribution limit, making it easier to replace the amount of your distribution in your retirement account.
Retirement plan loan limits have been increased and loan repayment deferral options available
Maximum retirement plan loan limits have been increased from $50,000 or 50% of vested account balances to $100,000 or 100% of the vested account balance for loans made within 180 days of enactment of the CARES Act on March 27.
This is also dependent on the loan policy, the type of loan, the number of loans allowed and limits offered within our plan. We currently allow participants a maximum of 2 plan loans. See the plan document for more details.
If you choose to take a loan, you will be asked to self-certify that you meet the requirements for a coronavirus-related loan. The loan approval process will remain the same as it does for non-coronavirus-related loans.
If you have existing retirement plan loan payments, you may be able to defer payments for one year and extend the term of your loan by one year.
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) makes it easier than ever to take distributions and loans from your retirement plan, with fewer tax consequences. While desperate times call for desperate measures and some personal circumstances may necessitate the need to access retirement plan savings, taking these distributions prior to retirement age should be a measure of last resort - used only when the alternative options (e.g., a payday loan) prove worse. Please read the article below for additional considerations.
- Tax deadline and HSA contributions - IRS tax filings have been extended to July 15, 2020. This also includes the ability for 2019 contributions to be made to health savings accounts (HSAs) and Archer medical savings accounts (MSAs) until July 15. Members can contribute to their 2019 HSA any time before July 15 through the secure member portal. Please note the maximum annual contributions for 2019 have not changed ($3,500 for individuals and $7,000 for families).
- Telemedicine - The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides for reimbursement for services for "telemedicine and other remote care services" below the deductible and will be permitted in an HSA-qualified health plan (HDHP). This provision is effective March 27, 2020 through December 31, 2021.
The CARES Act
The CARES Act extended the list of HSA-, health reimbursement arrangement (HRA)- and flexible spending account (FSA)-qualified expenses to include menstrual care products and over-the-counter (OTC) drugs without a doctor’s prescription. We’re making updates to extend these provisions to you.
- Claims reimbursement - Members can submit claims for menstrual care products and OTC drugs without a doctor’s prescription. The date of purchase must be after December 31, 2019.
- Card purchases - Health care debit card use for OTC drugs without a prescription and menstrual products is dependent on the updated eligible product list managed by the Special Interest Group for IIAS Standards (SIGIS), then merchants updating their systems. In the interim, members will need to submit manual claims with the proper documentation.
You can review the full compliance alert and stay up to date with our response to all things COVID-19 here.
The CARES Act permanently reinstates coverage of over-the-counter (OTC) medicines and drugs as items eligible for reimbursement under Code 213(d) expenses in FSA and HSA plans. With this change, OTC medicines and drugs will no longer require participants to have a prescription to prove eligibility, striking a provision that was included years ago in the Affordable Care Act. In addition to the reinstatement of OTC eligibility, the bill expands the eligible OTC definition to include menstrual care products. This change is retroactive and effective for expenses incurred on or after January 1, 2020. Read more here!
This is a free and confidential service to all employees and their spouses, dependent children, parents and parents-in-law to assist with health and eldercare related matters. HealthAdvocate is staffed with registered nurses, who can assist with insurance cost estimates, claims and appeals, finding the right doctors, scheduling appointments, understanding test, treatments and medications and more. Their number is 866.695.8622 and an Authorization Form is required for HealthAdvocate to work on your behalf or on behalf of a dependent minor.
The Bentley medical plans with Harvard Pilgrim Health Care provide coverage for telehealth. Telehealth connects you to a board-certified physician face-to-face using your phone, tablet or computer, 24 hours a day, seven days a week by visiting www.doctorondemand.com. There is more information on Harvard Pilgrim’s website and instructions for how to download the required app.
April is Stress Awareness Month — a great reminder to make managing stress a priority. To help, we’re sharing some of our partner Livongo’s stress relief resources:
- A daily calendar for April full of stress-busting strategies
- 5-Minute Stress Solutions to help unwind
- A proven way to Relieve Stress in the Moment
For more healthy tips and tools, join Livongo at go.livongo.com.
MetLife is here to help you navigate this challenging time. MetLife Legal Plans is offering document review and consultation through July 31, 2020, at no cost to you, even if you are not enrolled in the Hyatt Legal plan.
You may have your own favorite apps and services you like to use, but here are a few free/inexpensive options if you’re looking for something new! Try them out here!
Employee Benefits Eligibility
Employees who are regularly scheduled to work a minimum of 17.5 hours per week for at least nine months per year are eligible for most benefits offered by the university and are generally referred to as “benefits eligible employees”. Certain benefits are available to adjunct faculty, seasonal, and temporary employees on the Bentley payroll.
Please review the applicable Benefits Summary below based on your job category to understand which benefits are available to you.
Domestic Partner Benefits Eligibility
Bentley strives to provide a comprehensive benefits package that meets the needs of our diverse community. Benefits coverage, where permissible by insurance contract or law, is available for an employee’s same or opposite gender domestic partner as well as for their eligible dependents. Due to federal and state law, there are potential tax consequences. The terms of the official plan documents, insurance certificates and Bentley policies will control.
2021 Open Enrollment Resources
In 2021, Bentley University remains committed to helping you and your family achieve the best possible health and wellbeing. We are pleased to offer a comprehensive and competitive benefits package that provides you with the flexibility to make the choices that best meet the needs of you and your family. Below are some of the resources that were provided to you during this years Open Enrollment if you would like to revisit.