Welcome to the Open
Enrollment edition of
For Your Benefit
With the annual Open Enrollment period fast approaching, October 10 – 21, it’s time to consider your 2023 coverage. I encourage you to look inside this edition of For Your Benefit to learn what’s new and what’s changing, so you can make informed decisions for you and your family.
In 2023 there will be no change to our national medical plan administrators with Aetna, Anthem and Cigna continuing to partner with Pearson. The battle, though, to manage costs while maintaining the highest level of care and coverage wages on, creating the need to increase premiums for next year:
- National medical plans (administered by Anthem, Cigna, and Aetna) – 4.8% increase
- Kaiser (California) – 3.9% increase
There will be no change in premiums for dental (Delta Dental and Cigna DHMO) and vision (VSP) in 2023.
Deductible and Plan Name Change. The in-network deductible for the $2,850 plan administered by Aetna, Anthem, Cigna and Kaiser will increase to $3,000 single/$6,000 family (the out-of-network deductible will change to $6,000 single / $12,000 family). There are no changes to the out-of-pocket maximums. This change is required to make the plan compliant with IRS guidelines. The plan will now be called the $3,000 Deductible Plan to coincide with the deductible change.
- New Digital Physical Therapy Service. I am pleased to announce a new, no cost benefit for treating musculoskeletal issues beginning in November of 2022. With Sword Health, you work on feeling better using sensor technology to deliver real-time feedback in the comfort of your own home or wherever you may be. Say goodbye to delayed appointments, waiting rooms and extended travel time. Read the article about Sword Health for more information and watch your home mail for more information coming soon.
- New Life Insurance Vendor. Effective January 1, Lincoln Financial, our current disability vendor will be Pearson’s new life insurance partner. Rates and coverage levels are remaining the same. You will need to provide Evidence of Insurability if you want to increase your life insurance amounts for the new year.
- Expansion of Coverage. Earlier this year it was announced that travel and lodging benefits were available for select services such as organ transplants. I am pleased to announce that, for the national medical plans (Aetna, Anthem, and Cigna), Pearson has expanded travel and lodging benefits to include all covered services.
Important reminders as you plan for your 2023 enrollment:
- The Health Savings Account (HSA), Flexible Spending Accounts (FSA), and Commuter/Parking elections do not transfer from year to year – you must make an election for 2023, even if you want to continue with the same amount per paycheck next year.
- If you choose not to participate in Pearson Benefits plans in 2023, you must waive coverage, otherwise you will continue to see deductions in your paycheck for all of next year.
Inside you will also find helpful reminders about how to enroll and getting help while enrolling. As always, you can visit the Pearson Benefits website 24×7 for more specific plan details and coverage information.
In good health,
Vice President, Global Benefits