2024 Benefits Open Enrollment
Benefits Open Enrollment officially begins on Monday, November 6 and will run through Friday, November 17, 5:00 pm (EST). Employees will once again be able to take advantage of the Benefits Mentor decision tool, available in Workday, on November 6, to compare plans using their past individual claim history prior to making changes to their 2024 benefits in Workday.
Medical Contributions Salary Snapshot
Due to the state appropriations and general salary increase (GSI) delay, GSI will not be accounted for with the salary snapshot to determine your 2024 medical plan contributions. Your contributions will be calculated per the salary snapshot on September 30 (for all employees) based on the details in Workday on that date, regardless of whether GSI is applied retroactively.
Medical plan options through Highmark Blue Shield
- Lion Advantage Plan – If it is your intention to stay in the Lion Advantage plan for 2024, you MUST complete Benefits Open Enrollment to “enroll” in the Health Savings Account (HSA) for 2024 to appropriately receive the Penn State seed contribution. Information about the University’s seed contribution for 2024 can be found on the Health Savings Account webpage.
- Lion Traditional Plan – If you received any type of salary adjustment since the last open enrollment salary snapshot, your “deductible tier” may have changed. Keep in mind the information above regarding GSI. For deductible tier information, see the Lion Traditional coverage webpage. Employees whose deductible tier will change for 2024, MUST make an election during Benefits Open Enrollment, or you will default to NO coverage.
- Highmark Plan Information – This presentation provides a detailed account of the Lion Advantage and Lion Traditional medical plans as presented by our Highmark partners.
Health Care Contributions
- For the first time since 2018, there will be an increase to Health Care contributions. Please review the Health Care Premium Comparison for more information.
- There is a change in the salary cap for medical contributions; now $200,000.
Health Care Flexible Spending Account (FSA) Rollover
- If you wish to utilize the rollover feature that allows $610 from your 2023 Health care FSA to carry into 2024, you MUST elect the FSA during Benefits Open Enrollment.
Updated coverage for Unum Long-term Disability and Unum Child(ren) Life Insurance
Please review Long-term Disability (link to below chart) and Life (link to below chart) details for more information.
Retiring on December 31, 2023?
Employees RETIRING on December 31, 2023, should NOT complete Benefits Open Enrollment. Enrolling as a retiree in the medical plan is a separate process and will be completed at time of retirement. Please join a Preparing for Retirement webinar or review the Guide to Retirement to learn more details.
New Employee Assistance Program provider
Penn State will be moving to a new Employee Assistance Program (EAP) vendor, SupportLinc, starting January 1, 2024.
New AblePay program
Penn State has partnered with AblePay to offer a new service that may help employees reduce their out-of-pocket costs on health care bills.