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Benefits Access Helps You Stay on Track
When is the last time you logged in to Benefits Access? While any time is a good time to review your account information, certain times are more urgent than others:
- Fall annual election season: If you have a health savings account (HSA), you can check your balance for an idea of how much to contribute to your HSA next year. You'll also want to check Health FSA balances because you can carry over up to $610 into 2024.
- Relocating: After you unpack the boxes, check your personal profile in Benefits Access to update your address and, if necessary, your email address and bank information.
- Setting up retirement benefits: If you’re starting the benefit election process, confirm your bank information so you don’t miss a payment.
- Life events: The birth of a child, death of a spouse, and marriage are just a few reasons to log in and update your beneficiaries.
| New to Benefits Access? No Problem! |
To set up your user account, visit Benefits Access (www.benefitsaccess.org) and click the “New User Registration” button. Then answer a few questions, provide a valid email address, set up your username and password, and you’ll have on-demand access to your account and benefits information and a robust collection of resources. |
Survey Findings Provide Insights into Clergy Well-Being
Wespath recently released the findings of its seventh biennial Clergy Well-Being Survey, offering important insights into the current state of clergy across the five dimensions of well-being: physical, spiritual, social, emotional and financial.
Over 1,200 clergy representing a wide range of demographics participated in this year’s survey, revealing both positive and concerning changes since the 2021 survey, and helping Wespath identify trends over the past decade. We were also able to look back at clergy well-being trends over the past decade, and found an alarming pattern of a decline in all dimensions of clergy well-being in the last 10 years.
The insights that clergy provide through this survey help shape future Wespath programs and initiatives. The survey results can also be used to help United Methodist congregations and leaders understand how to support their clergy.
Earn $100 and Avoid a Higher 2024 Deductible—Complete Health Check and Blueprint for Wellness by August 31
Not much time is left! Avoid a higher 2024 HealthFlex deductible* and earn $100** when you complete the Health Check questionnaire and the Blueprint for Wellness screening by August 31.
If you or your covered spouse have not yet registered for Virgin Pulse, sign up here.
Participation in wellness programs is voluntary.
*Households with family coverage in the H5000 plan in 2024 who do not complete the Health Check in 2023 will have their deductible and individual out-of-pocket maximum increased so the deductible and out-of-pocket max are the same amounts.
**Incentive rewards are provided in “Pulse Cash,” the “rewards currency” for HealthFlex—you must be enrolled in Virgin Pulse to earn and redeem Pulse Cash. Pulse Cash is delivered straight to your Virgin Pulse account and can be transferred to your checking account or redeemed for gift cards, merchandise or charitable donations. The IRS considers cash wellness incentives as taxable income. Contact your tax adviser for more information.
Annual Election Coming Soon!
Wespath Annual Election—the period when you select your medical/pharmacy, dental and vision plans, and health accounts for 2024—will take place November 1–16. Be on the lookout for more information in the upcoming weeks and months. Just like last year, you will access the annual election site via Benefits Access. If you have not registered for Benefits Access, click here to complete the registration process.
Financial Markets Review—Stocks Soar and More
Both U.S. and international stock markets enjoyed strong performance in July. We also saw historical employment data for women in the workforce. Trent Sparrow, Wespath’s Manager of Impact Investments, shares more in our latest Markets at a Glance video.
Read our July Monthly Investment Report to learn more.
Spotlight on Impact Investing—Sustainable Investment Report
Your retirement dollars are making an impact by investing in accessible and affordable housing that seeks to achieve a market-rate of return while positively impacting underserved communities. For example, Wespath recently helped finance a 75-unit affordable housing development in New York with seven apartments designated for people with physical disabilities and five apartments reserved for individuals with mental health conditions. In addition to modern housing, these residents have access to onsite supportive services. This property was one of 11 new affordable housing properties that Wespath helped finance in 2021 and 2022 through our Positive Social Purpose Lending Program.
To learn about the Positive Social Purpose Lending Program—and to explore how Wespath invests in ways that make a real-world impact—check out our new Sustainable Investment Report.
| For Your Education |
Video: Register Now for “Personalizing UMPIP September 19” Want to learn how investing in the United Methodist Personal Investment Plan (UMPIP) can help you save for retirement? Leading this webinar on Tuesday, September 19 from 1:00 to 2:00 p.m. Central time is Trent Sparrow, Manager of Impact Investments, who will review your retirement plan’s investment options, provide details about Wespath’s LifeStage Investment Management, and answer your questions. Register now.
Video: EY’s Demystifying Social Security Webinar There are many misconceptions about Social Security retirement benefits. In this recording from Wespath partner EY Financial Planning Services, you’ll learn important facts, including how to qualify for benefits, when payments can start, how payments are calculated, taxes and more. Visit wespath.eynavigate.com today and click on “Learning Center” to view this webinar—and explore other EY resources as well! (New users: registration is quick and easy.)
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