The annual open enrollment season for benefits begins Monday, November 1, 2021 and will continue through Monday, November 15, 2021. Elections and changes made to benefits during open enrollment are effective on January 1, 2022. Open enrollment is the annual time of the year for employees to review their health benefits, including adding or dropping eligible dependents from coverage.
If employees choose not to act during open enrollment, their medical, dental and vision coverage will “roll over” as long as they remain eligible for the plan. Current enrollees in the firm's 80/70/60 Premium PPO Plan will be moved to the High Deductible Plan (HDHP) with Health Savings Account (HSA).
Each year, employees must re-enroll in the following plans: HSA; Health Care and Limited Health Care Flexible Spending Account (MFSA); and Dependent Care Flexible Spending Account (DCFSA).*
All enrollment elections are due by November 15, 2021. After November 15, the next opportunity to make changes to benefit elections will be during the next annual open enrollment period, unless a qualifying life event is experienced such as: marriage, adding a dependent or a change in job status.
* Partners are not eligible for pre-tax benefit plans
Effective January 1, 2022, prescription drug benefits will move to Optum (UHC) from Express Scripts. Prescription Drug List (PDL) available on this landing page.
The firm will offer two medical plans in 2022 insured by United Healthcare; the 80/70/60 Premium PPO Plan will no longer be offered in 2022:
1. 90/70 PPO;
2. High Deductible Health Plan (HDHP).
There are no changes to Plan deductibles, co-payments or co-insurance for 2022 further limiting out-of-pocket expenses.
Premiums for both the MetLife Dental PPO/Value Plan and the MetLife Classic/Flex Plan will decrease by 10% per month following a complete market review.
VSP Vision Plan rates will remain unchanged for 2022.
When comparing plans, note the Value of the HDHP and HSA for your health plan dollars.
The HDHP remains the lowest monthly plan premium and employees enrolled in the firm’s United Healthcare HDHP in 2022 are eligible to receive an annual firm contribution up to $500 to the Health Savings Account (HSA)*. In addition, 2022 IRS limits permit HDHP participants pre-tax HSA contributions up to $3,650 for individual enrollments and up to $7,300 in pre-tax HSA contributions for enrollments with one or more dependents. (IRS limits include the firm’s contribution of $500). HDHP participants minimum age 55 may also make an HSA catch-up contribution of an additional $1,000 in 2022.
In 2022, employees enrolled in the 90/70 PPO Medical Plan may contribute up to $2,750 in pre-tax dollars to their Health Care FSA. Elections of up to $550 can be rolled over from 2021 into 2022 and from 2022 into 2023.
Employees may use their HSA and Health Care FSA to purchase over-the-counter products, such as pain relievers and cold and flu medicine. For eligible items, go to: www.Flores247.com.
New! We are pleased to announce that effective November 8, 2021, Wiley will offer all employees and partners access to One Medical care.
Plan to attend one of the upcoming One Medical webinars.
One Medical is a membership-based primary care organization combining digital health with inviting in-office care, near Wiley's office.
Wiley continues to offer Long -Term Care Insurance with LifeSecure. This benefit will be available to partners and employees with a minimum of 6 months active employment as well as, their spouses/partners and qualifying family members with full underwriting.
Health Savings Account* (HSA):
Flexible Spending Account (FSA)
Qualified Transportation* (QTE)
401(k) Retirement Plan
1Age 55 and older
2Age 50 and older
*Partners are not eligible for pre-tax benefit plans
**Includes annual firm contribution of $500 for employees
Check back soon!
We will be pleased to present to you the 2022 benefit guides, which highlight the comprehensive coverage available to you through Wiley Rein LLP.
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