Flex Dollars
Loyola University Maryland's Cafeteria Flexible Benefits Program (Flex Plan) enables
benefit-eligible faculty, staff, and administrators to customize a combination of
benefits that best suits their individual needs. Participation in both core (employer-paid)
and elective benefits begins on the first day of the month following the date of hire
or eligibility. However, if employment or eligibility begins on the first of the month
(e.g., February 1), benefits will take effect on that date.
The University provides Flex Dollars to assist eligible faculty, staff, and administrators
with purchasing benefits. Flex Dollars can be used for a variety of expenses, including
but not limited to medical costs, as well as other health and wellness-related expenses.
Enrollment in Loyola's benefits is not mandatory, and employees who "opt out" (waive)
enrollment will still have Flex Dollars automatically applied to their paychecks.
Year-to-date amounts and paycheck details can be reviewed on payslips in Workday.
Flex Dollars based on Completed Years of Service
Years of Service as of July 1st: 0 to 5
Annual Flex Dollars: $1,000
Flex Dollars Per Paycheck: $ 41.67 (Administrator & Faculty) / $ 38.46 (Biweekly)
Years of Service as of July 1st: 6 to 10
Annual Flex Dollars: $1,100
Flex Dollars Per Paycheck: $ 45.83 (Administrator & Faculty) / $ 42.31 (Biweekly)
Years of Service as of July 1st: 11 to 15
Annual Flex Dollars: $1,200
Flex Dollars Per Paycheck: $ 50 (Administrator & Faculty) / $ 46.15 (Biweekly)
Years of Service as of July 1st: 16 to 20
Annual Flex Dollars: $1,300
Flex Dollars Per Paycheck: $ 54.17 (Administrator & Faculty) / $ 50 (Biweekly)
Years of Service as of July 1st: 21 or more
Annual Flex Dollars: $1,400
Flex Dollars Per Paycheck: $ 58.33 (Administrator & Faculty) / $ 53.85 (Biweekly)
* Regular full-time or core Jesuits and Religious Sisters of Mercy receive $850 base
flex dollars. Additional $100 will be added based on the YOS schedule above.
** Regular half-time administrators and staff receive $500 base flex dollars. Additional
$100 will be added based on the YOS schedule above.
*** Paycheck amounts may be different for benefit-eligible staff members working less
than 12 months.
This website provides an overview of the available benefits. The University reserves
the right to modify, amend, suspend, or terminate any plan at any time and for any
reason, without prior notice. Employees will be informed of any changes to these plans
and their potential impact on benefits, if applicable.
The plans outlined on this website are governed by official insurance contracts and
plan documents, which are available for review. While we strive to ensure the information
on this website is accurate, in the event of any discrepancies, the provisions outlined
in the official insurance contracts or plan documents will take precedence. Additionally,
oral descriptions of these plans should not be relied upon, as the written provisions
in the official documents will always prevail