Benefits Enrollment, News and Resources

News and Announcements

Oracle Wellness: Barriers to Action

Take a minute to think about reasons you can’t, don’t want to, or simply don’t feel motivated to change your current unhealthy habits.

Do you like greasy French fries, and can’t imagine your life without them?
Do you sit in front of your computer for hours without taking a break?
Do you absolutely hate running?

For every "barrier" that is keeping you from making a healthy change in your life, brainstorm two potential solutions. For example, you don’t have to eliminate French fries from your life. Instead, recognize that they are a "sometimes food." Eat them in moderation, and in small portions. Take short micro-breaks throughout your work day, such as going for a walk, stretching, or try standing during a conference call. These micro-breaks can help to reduce / prevent musculoskeletal injuries, and they can rejuvenate your outlook for the day! Lastly, if you hate a specific form of exercise, try a different option, until you find something you like.

2014 Health/Dependent Care FSA Claim Submission Deadline: March 31, 2015

March 31, 2015 is the deadline to submit reimbursement claims for eligible expenses incurred January 1, 2014 through December 31, 2014. General and Limited Purpose Healthcare FSA participants may benefit from the "Carryover" provision, as unused funds up to $500 may be used for future eligible expenses. This provision does not apply to the Dependent Care FSA – "Use It or Lose It" rules apply.

Read More Info: FAQs | Submit Your Claims: Online | Print form

Health Care Reform Alerts - Individual Mandate

New 2014 Tax Requirement: Effective January 1, 2014, Health Care Reform law requires you to purchase health insurance for yourself and eligible dependents. If you did not elect health coverage offered by Oracle, and do not have other coverage, you will be subject to a federal tax penalty. (Some exemptions apply).

Verifying Coverage: The Internal Revenue Service (IRS) will verify your health plan coverage when you file your personal federal income tax return. If you and your eligible dependents had coverage for each month of the 2014 tax year, you will indicate this on your 2014 tax return simply by checking Box 61 on your Form 1040, 1040A, or 1040EZ.

Read More Info: IRS Form Instructions (Line 61) |
Health Care Reform Website | FAQs

W-2: Reporting Health Coverage Costs

Each year, Oracle is required to report the value of your health coverage on your W-2 (Box 12 with a code DD). The sum of the monthly COBRA premium (net of the 2% administrative fee) for the plan(s) and coverage tier(s) you elected are reported on your W-2 (Box 12 with a code DD). This provision does NOT affect your income tax return – it is for reporting purposes only.

Read More Info: Health Care Reform Website | FAQs

2014 Taxpayer Information (Publication 5187)

This publication covers some of the tax provisions of the Affordable Care Act (ACA). Click here to download this helpful guide.

401(k) Plan – Did You Exceed the Contribution Limit?

In 2014, the maximum amount that you may defer to all 401(k) plans was limited to $17,500. If you were age 50+ as of December 31, 2014 the maximum allowable amount was $23,000.

The amount you contributed to the plan is reported on your W2 in Box 12 [code D - for traditional pre-tax and code AA for Roth 401(k)]. Employer contributions such as the Oracle match are not subject to this limit, and are not conveyed on your W-2s.

If, having reviewed your W-2s from ALL employers in 2014, you feel you have exceeded your personal limit, please contact Don Reich (Oracle’s Plan Manager). The deadline for any refund of excess deferrals is April 15, 2015. Keep in mind that any refund will take approximately one week to process so please make your request as early as possible. Visit the Oracle US Benefits Website for more information about the 401(k) Plan.

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