Open Enrollment: What You Need to Know About 2023 Benefits Options

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In preparation for the upcoming Open Enrollment window (November 1-15), the Open Enrollment info page is now available. This is your go-to source of information for all things Open Enrollment! On this page, you will find:

  • A summary of your benefits options
  • Rates for the 2023 Plan Year (Jan. 1 – Dec. 31, 2023)
  • Links to:
    • Help guides/tutorial for using the ADP Open Enrollment function
    • Plan summaries and comparisons
    • Our NEW benefits guidebook, which contains links to short videos that explain frequently used benefits terms
    • Recorded presentations
  • Info about how/where you can get assistance with your Open Enrollment questions

We’ll continue to add content to the page as we finalize communications over the next few weeks, so please check back if you don’t see something you’re looking for. In the meantime, here’s what you need to know about our plans for next year:

Medical

Plan Administration: After a competitive review process over the summer, Anthem was selected to continue their administration of our self-funded medical/vision/dental plans. There will be no changes to our medical plan offering or out-of-pocket costs.

Rates: Through a combination of employer contribution increases and lower-than-expected claims, we have been fortunate to hold employee medical premiums steady since the 2016-17 Plan Year. As anticipated and communicated last year, ever-increasing healthcare and prescription drug costs necessitate employee premium increases for the 2023 plan in order to adequately fund our self-insured medical plan to meet projected expenses and maintain adequate reserves. The joint Steering Committee, which is responsible for the management of our healthcare plan and self-insurance fund, agreed to an increase to the employee share of the premiums ranging from $5-$40 per pay period, depending on plan/tier of coverage. You can view the 2023 premium rates on the Open Enrollment info page.

Dental

Plan Administration: There will be no changes to our dental plan offerings or out of pocket costs.

Rates: There will be no changes to dental premium rates for the 2023 plan year.

FSA (Flexible Spending Account):

  • Contribution maximums: The IRS has not yet announced 2023 contribution maximums. We will update you when these are communicated.
  • Plan Administration: In September 2021, LD&B (which has administered our FSA accounts since 2014) notified us that they would no longer offer these services to employers after the 2022 plan year. We have contracted with FBA (Flexible Benefits Administrators, Inc.) in Virginia Beach to provide our FSA administration for 2023. We are excited about this new partnership and have every confidence that you will receive the same high-quality customer service from FBA that you have come to expect from LD&B. Please note: For those of you who currently have healthcare or dependent care FSA accounts, LD&B will continue to administer these through the grace/runout periods for the 2022 plan year. We will communicate details about the transition to current participants directly in the next few weeks.

HSA (Health Savings Account):

Contribution maximums (employee + employer) for 2023:

  • Individual: $3,850 (a $200 increase from the 2022 limit)
  • Family: $7,750 (a $450 increase from the 2022 limit)
  • Catch up contributions for those aged 55+ remain at an additional $1,000.
  • We will continue to contribute $1,104 annually to employee HSA accounts (if eligible for the entirety of 2023).