With the annual Open Enrollment period upon us (October 11 – 22), it’s time to consider your 2022 coverage. One only has to think of the pandemic to appreciate the comfort that comes from knowing your benefits are there when you need them. Inside you will find information about the plan options, enrollment reminders, and details on new benefit features included in Pearson’s health plans. I encourage you to take a few minutes to read the magazine, so you are prepared to make informed decisions.
Pearson continues its average contribution of 80% toward the cost of medical coverage while employees contribute 20%, in aggregate. Employees enrolled in the national medical plans (those administered by Anthem, Cigna and Aetna) will see an increase of 3.8 % which, on average, equals an increase of approximately $11.61, keeping in mind that employee contributions vary by plan, coverage tier and salary band. California employees will have a new $2,850 plan available to them which will be administered by Kaiser.
Here are important reminders (more within the magazine) as you plan for your 2022 enrollment:
The Health Savings Account (HSA), Flexible Spending Account and Commuter/Parking elections do not transfer from year to year – you must make an election for 2022, even if you want to continue with the same amount per paycheck next year.
- Please note a change in the way the HSA company contribution will be applied beginning in January. More information can be found in this issue
- If you choose not to participate in Pearson Benefits plans in 2022, you must waive coverage, otherwise you will continue to see deductions in your paycheck for all of next year.
Good news! I am always excited when I can announce new benefit features at Pearson.
Take a moment to learn about expanded LifeCare benefits and the new Roth 401(k) coming in February, 2022.
There is also news about Pearson’s inaugural Global WELL Week this month. We want you to take some time away from your work and focus on your overall health. Learn more about what’s planned and click here to see the schedule of events.
While the focus of this edition is Open Enrollment, we also take a look at some important health awareness campaigns including:
- World Mental Health Day – Sponsored by the World Health Organization, the purpose is to raise awareness and lessen the stigma associated with mental illness
- World Menopause Day – Learn more about this natural part of the female aging process
In Good Health,
Vice President, Global Benefits