Open Enrollment 2021
Wednesday, April 28, 2021, through Wednesday, May 12, 2021
At Valleywise Health, the work you do every day helps us achieve our mission to “provide exceptional care, without exception, every patient, every time”. While you make a difference with our patients, we want to make a difference in your life. That is why we are proud to offer a comprehensive benefits package that supports your health and financial well-being
Remember, Open Enrollment is your once-a-year chance to review and choose the Valleywise Health benefits that fit your lifestyle and budget!
We have great news to share! Insurance carriers will remain the same for the new plan year with the exception of the life and supplemental life insurance carrier, which will be MetLife as of July 1, 2021. There will be no plan option or plan design changes for medical, dental, and vision coverages, or other voluntary benefit plans. And even better news – there will be no rate increases to the medical, dental, vision, or other benefit plans, with the exception, if applicable, of nominal supplemental life age banded rate changes, and age-banded rate increases for Short Term Disability and Critical Illness depending upon your age as of the new plan year.
Remember, it’s not required that you re-enroll in benefits for 2021/2022. If you do nothing, your current coverage will rollover to 2021/2022. However, it is required that you enroll in the FSA or HSA if you would like to participate in those accounts for 2021/2022.
Health Savings Accounts (HSA). If you enroll in the Valleywise Health HSA eligible HDHP, you must re-enroll in the Health Savings Account as IRS rules require an annual active enrollment. For single coverage, the maximum 2021 deferral is $3,600; if you are covering dependents the maximum you can defer to your HSA is $7,200. Learn more.
Spending Account (FSA). If you enroll in the POS or Preferred plans, you can also participate in the FSA. This account lets you set aside pre-tax dollars to use for eligible medical, dental, and vision expenses. Participating in the FSA maximizes your pre-tax savings and if the funds are used to pay for qualified expenses, you will not pay tax on this income. For 2021, the Healthcare FSA deferral limit remains $2,750. Learn more.
The various plan offerings have limitations and exclusions that may affect benefits payable. Refer to the plan documents for complete details, limitations, and exclusions.