Welcome to Your Annual Benefits Open Enrollment for !

A Message From Waters

Dear Colleague,

Our employees create the Waters Difference, so we invest in you and what you need to thrive. So our Total Rewards are intended to help you achieve success at work and, at the same time, balance the rest of your life needs. All among the many components that make up Waters’ Total Rewards.

Our benefit programs are designed to help you realize the goals of a rewarding career, a healthy life and a bright future. These benefits, are one way we… Deliver Benefit… TO YOU!

This guide helps you understand your benefit offerings and explains how to select the ones that best fit you and your family’s needs. Please be sure to complete your elections within the enrollment period (this is explained in this eGuide).


Robert DiFabio

Senior Director, Global Benefits and Mobility

What’s Changing This Year?

Hi! I’m Emma. And I’m here to help you understand your benefits. There will not be many changes to your benefits for 2022, but there are a couple of enhancements to your current benefits. I’ll make sure to point them out when we’re covering the specific benefits they apply to, throughout this guide.

Remember, Waters strongly encourages all employees to login during Open Enrollment. Most employees will need to take action. For example, some plans require re-enrollment each year (FSAs & HSA contributions). Also, you should step through the medical plan enrollment, so I can help you evaluate your plan options for and enroll in the best one for you and your family. You can also make sure your Working Spouse/Partner medical surcharge indicator is set correctly.

Medical Changes

No changes here for . Aetna will continue to be your health provider, and Waters will continue to offer the same three medical plans that were available in 2021. There will be no change to the premiums, deductibles, out-of-pocket maximums, or copayments.

    The three plans you can choose from are:

    • The Deductible $2,500/$6,250 Plan with an HSA or HRA
    • The Deductible $1,550/$3,700 Plan with an HSA or HRA
    • The Copay and Deductible Plan

    All three plans have the same network, same list of eligible covered expenses, and will 100% cover most in-network preventive care.

    The plans do have some key differences, however:

    The Copay and Deductible Plan is designed to help employees and their families who might have high medical needs during the year. This plan has the highest premium cost out of your pay check, but potentially the lowest out of pocket costs at the point of service. For most, one of the other two plans will still be the best plan for them, and the lowest annual total cost including both premium pay check deductions as well as out of pocket costs throughout the year.

    The Deductible $2,500/$6,250 Plan, on the other hand, has lower up-front per-pay-check premium deductions, but the highest out-of-pocket deductible and out-of-pocket maximums. The other plan falls in-between these two plans.

    For a complete look at these plans, review Medical and Prescription Plans section of the eGuide.

It’s important to get an estimate of what your expected medical needs will be in , before you choose a plan. No estimate can perfectly predict the future, but it can give you the confidence that you aren’t over- or under- insuring based on what you DO know, today. I can help you with that with the Medical Expense Estimator, a tool available when you go through enrollment, in the Medical plan section, on WatersBenefitsNow.com.


  • For prescriptions:
    • Eligible preventive drugs are always covered at 100% in the two HSA/HRA eligible medical plans. The Copay and Deductible plan covers tier 1 and tier 2 eligible preventive drugs at no cost. Tier 3 drugs will still be subject to the plan’s copay in the Copay and Deductible Plan. Find the eligible Preventive Drug Lists under Quick Links on the home page of WatersBenefitsNow.com.
    • the Deductible $1,550/$3,700 plan will cover your prescriptions at 100%, once you hit the deductible. No copays. No coinsurance.
    • the Deductible $2,500/$6,250 plan will have 15% coinsurance for prescriptions, after the deductible, up to the out-of-pocket maximum. Then the prescriptions are covered 100%. No copays, ever.
    • the Copay and Deductible plan charges a copay between $10 – $50, depending on the type of drug.
If you don’t take any action during enrollment, you’ll default to your current plan choice.


    From day one, the Deductible $1,550/$3,700 Plan and the Deductible $2,500/$6,250 Plan will cover eligible preventive prescription drugs at 100%, without needing to hit the deductible. The Copay and Deductible Plan also covers tier 1 and tier 2 eligible preventive drugs at no cost, not even a copay. Tier 3 drugs will still be subject to the plan’s copay. Find the eligible preventive drug lists under Quick Links of WatersBenefitsNow.com.

    The IRS is increasing the amount employees with individual coverage may contribute to their Health Savings Account.

      • In , the IRS limit for how much employees with individual coverage could contribute to their Health Savings Account was $3,600. In , the new limit has increased to . Employees covering one or more family members can contribute up to . If you’re age 55 or older, you can add $1000 to each of those maximums.

    The Health Savings Account administrated through Fidelity.

      • The only change here is that the IRS has increased the amount employees can contribute pre-tax to their HSA Account for 2022. (See the new limits mentioned above.) Otherwise, the HSAs are remaining with Fidelity for . If you already have an open account, you don’t need to open it again. All you will want to do is elect how much you want to contribute to your HSA in , since your current contribution election doesn’t automatically carry forward into . Make your election on WatersBenefitsNow.com in the Open Enrollment section at the top of the homepage. You will be able to view and manage your HSA Account at 401k.com, the same Fidelity NetBenefits web site you manage your existing Waters 401(k) Plan. All new employee and employer contributions, beginning with the first payroll of , will be deposited into your Fidelity HSA Account. And with this comes the great education and consultative expertise for your HSA Account that you are already used to from Fidelity on the 401(k) side.

        You can continue to use your Fidelity HSA debit card into , and you’ll have the option for a checkbook for your HSA Account with Fidelity.

        You will have access to all the details once you make your HSA Account contribution election on WatersBenefitsNow.com.

        If you are enrolling in a Waters HSA Account for the first time, make this election on WatersBenefitsNow.com during annual Open Enrollment and following the new enrollment instructions located there. Also, be sure to open your HSA account at www.401k.com.

        Three advantages to having your HSA with Fidelity…

        • A clear and simple tool to pay your eligible health expenses, straight from your HSA Account (on 401k.com)
        • Easy access to all of Fidelity’s mutual funds, to invest your HSA account money (once your account balance is at least $500)
        • Enhanced consultative help and assistance to manage your HSA, with Fidelity certified representatives–as you have come to experience with Fidelity’s 401(k) service.

        As an HSA member, your Fidelity HSA account can be accessed at www.401k.com.

    Waters Wellness Now will remain with Virgin Pulse. The program year is now the calendar year, January 1st through December 31st. In 2022, you’ll also have access to a more robust WHIL Resiliency and Mindfulness program within the Virgin Pulse platform.

      • Virgin Pulse is here to provide you with an industry-leading wellness platform.

        This program is open to all benefits eligible US employees, plus spouses/partners who are enrolled in a Waters medical plan, and offers you a number of ways to help you with your own personal health and wellness goals. You can work with a coach, and participate in challenges, too.

        Also, with Virgin Pulse, you’ll be able to earn points throughout each quarterly game for the entire program year. Earned points will equate to Pulse Cash, which you can use in the Virgin Pulse store, to buy gift cards, or even donate to charity!

        Visit WatersWellnessNow.com to learn more.

    If you enroll in either the Deductible $1,550/$3,700 plan, or the Deductible $2,500/$6,250 plan, you can choose to have either an HSA account, or a Health Reimbursement Account (HRA) for .

      • Most employees are enrolled in the HSA, but some are in the HRA, for example, if they aren’t eligible for an HSA due to IRS regulations. Examples of not being eligible for an HSA are if your IRS spouse is contributing to a General Purpose Health Care Flexible Spending Account, or you are covered on another medical plan outside of Waters, like Medicare.

        See the IRS rules for HSA eligibility here: https://www.irs.gov/publications/p969/ar02.html#en_US_2015_publink1000204025.

    A bit more about HSAs and HRAs.

      • One of the primary advantages of an HSA is that the money in the account is yours. No matter whether you switch plans or leave the company, the money in your HSA account remains with you. That’s a strong factor behind Waters’ push to make all plans HSA compatible, and to provide hefty contributions to those accounts, on your behalf.

        An HRA, on the other hand, is more of a specialized expense account. The money in it is available to you during the year, but it doesn’t belong to you. And, legally, leaving an HRA means losing access to those funds.

        Plus, once again in , Waters will be automatically depositing money into your HSA or HRA account if you’re enrolled in one of the HSA/HRA-eligible plans. In early January, if you’re enrolled in the Deductible $1,550/$3,700 plan, or the Deductible $2,500/$6,250 plan, Waters will deposit $200 into your HSA or HRA account if you cover only yourself, or $400 if you cover you and your dependents.

    Livongo for Diabetes and Hypertension Programs

      • There are no changes for 2022. Like last year, any employee and family member enrolled in a Waters medical plan will have free access to Livongo for Diabetes and/or Hypertension.

        These programs are free, and open to any Waters employees and their covered spouses or partners, and dependent children who are enrolled in a Waters medical plan. Livongo’s Diabetes program helps make living with Diabetes easier. Livongo’s Hypertension program is here to help with a free connected blood pressure monitor, a mobile app to view and track all of your readings, a personalized report, and personalized health coaching.

        If you are living with both diabetes and high blood pressure, and you participate in both Livongo’s Diabetes and Hypertension programs together, the overall experience will be integrated and efficient, to get you the care you need.

        Learn more and/or enroll at welcome.livongo.com/WATERS/hi.

    Hinge Health for musculoskeletal joint pain assistance is expanding its services.

      • Hinge Health will be offered again in , and with even more services available to help you, including their Digital Musculoskeletal Clinic. The original core programs will continue, including their free, interactive exercise therapy program, which includes a tablet and wearable sensors to help those with knee, back, hip, neck, and shoulder pain. This program is available to all US benefits-eligible employees, along with any spouse/partner that is covered under a Waters group health plan. Participation is simple and takes as little as 15 minutes per session, up to 45 minutes per week, easily fitting into your busy schedule, anytime and anywhere.

        Read more or apply at www.hingehealth.com/waters.

    Dental Changes

    Starting in , the Dental High Plan will include coverage for Occlusal Mouth Guards.

      • Waters will again offer two dental plans through Delta Dental: the Low Plan (which has lower premium costs, but does not cover major services or orthodontia), and the High Plan.

        If you do nothing, you will remain in your current dental plan. Both plans use Delta Dental’s PPO Plus Premier dental network.

    Vision Changes

    No changes here for .

      • The vision plan will continue with EyeMed, and continue to have the same coverage design. Visit the vision plan page of the eGuide to see all of the great benefits you have available to you.

    Short-Term and Long-Term Disability Changes

    No changes here for .

    Life and AD&D Insurance Changes

    No changes here for .

      • Life insurance is a tax-free benefit in amounts up to $50,000. The Internal Revenue Service requires you to pay income tax on the value of any amount exceeding $50,000. The IRS-determined value is called “imputed income” and is calculated from the government’s “Uniform Premium Table I.”

        You’ll be able to limit your company-provided Basic Life Insurance value to $50K, instead of the usual amount, which is 2x your salary. This will help you avoid the imputed income tax on any values greater than $50K. But weigh this option with you and your family’s overall financial needs–you might still be better off with Waters’ normal Basic Life Insurance coverage of two times your benefit salary.

        When you’re going through enrollment, you should consider if you want your life insurance coverage amount at the company-provided 2X your Benefit Salary default, or if you want to cap the value at $50,000.

        The plan options and designs aren’t changing for , though. If you are enrolled in any of the voluntary buy-up options, those will continue into automatically. Your premium for any Waters Group Term program might increase if you have moved into the next-highest age bracket used for premium rates. Whole Life will also continue, with no premium changes. Unlike the life insurance waters already offers, Whole Life Insurance and Long Term Care with Colonial Life is permanent, and owned by you. So if you decide to buy it, you can take it with you if you retire or leave the company. And the cost is based on a fixed benefit and fixed premium… so it won’t break your piggy bank.

        All of these plans are available in Open Enrollment on WatersBenefitsNow.com.

    Other Voluntary Plans

    MetLife Insurance has been rebranded.

    • MetLife Auto/Home/Personal Property Insurance has been rebranded, and is now Farmers Insurance GroupSelect Auto and Home/Personal Property Insurance. If you currently have MetLife, you will automatically be transitioned to Farmers.

      For more information, see the Auto, Home, and Personal Property Insurance page of the eGuide.

That covers the changes for . But there’s a lot more information available here, in this eGuide, if you’re interested in learning more. Hope it helps!

P.S. I have a legal disclaimer you should take a look at below:

This eGuide is only a brief summary of programs. For any additional information regarding the benefit plans, you can visit the Waters Benefits Now website at www.watersbenefitsnow.com, refer to the summary plan descriptions available there, or contact the Waters Benefits Now Call Center at 1-866-994-5111 if you do not have access to a computer as a regular part of your job. In the event of a conflict between this eGuide and the official plan documents, the official plan documents will govern in all cases.