Hi! I’m Emma. And I’m here to help you understand your benefits through this eGuide.
Waters strongly encourages you to login during your New Hire Enrollment. You will need to take action if you plan on enrolling yourself (and your family) in a medical, dental, or vision plan, or any of Waters’ other voluntary benefits. I’ll be there to help you make those decisions, and based on your unique health needs, I can give you an estimate of what each plan could cost you during the year.
Waters offers you a choice of three Aetna medical plans.
You can choose between:
- 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 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 benefits, review Medical and Prescription Plans section of the eGuide.
It’s important to get an estimate of what your expected medical needs will be for the plan year before you choose a plan. No estimate can perfectly predict the future, but it can give you confidence 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.
- 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.
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.
There’s the opportunity to earn even more money through the Virgin Pulse wellness program!
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 remainder of the 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! In addition, for those enrolled in an HSA/HRA eligible medical plan, if you reach level 3 for points each quarter, you will receive an additional $100 deposit into your HSA or HRA account each quarter. Medically covered spouses/partners can also earn this contribution into the employee’s HSA/HRA account.
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 a Health Savings Account (HSA), or a Health Reimbursement Account (HRA).
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.
One thing you’ll want to note though, is that if you enroll in the Copay and Deductible Plan, you are not eligible for an HSA or HRA.
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, Waters will be automatically depositing money into your HSA or HRA account if you’re enrolled in one of the HSA/HRA-eligible plans. 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 at least one dependent.
Livongo for Diabetes and Hypertension Programs
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.
Another service available to you is Hinge Health’s free, interactive exercise therapy program that includes a tablet and wearable sensors to help eliminate musculoskeletal joint and muscle pain. This program is available to all US and Puerto Rico benefits eligible employees and also 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.
You’ll have two plans to choose from, courtesy of Delta Dental.
The first option, the Low Plan, has lower premium costs, but does not cover major services or orthodontia.
The High Plan will give you access to more comprehensive care at a higher price. Both plans use Delta Dental’s PPO Plus Premier dental network.
Waters offers you an EyeMed Vision Plan.
Visit the vision page of the eGuide to see all of the great benefits you have available to you.
Short-Term and Long-Term Disability Insurance
Coverage provided to you by Waters in case you are unable to work.
Life and Accidental Death and Dismemberment (AD&D) Insurance
Waters offers Group Life and AD&D Insurance through Prudential as well as additional Whole Life Insurance with Long Term Care, through Colonial Life.
Waters automatically provides all benefits eligible employees with basic group life insurance valued at 2X your salary. 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 to keep 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.
Unlike the other life insurance waters 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 during enrollment on WatersBenefitsNow.com.
Other Voluntary Plans
Beyond what’s above, Waters offers you a whole bunch of voluntary benefits―everything from scholarships to pet insurance―that you may be interested in. Check them out below!
That’s what you should know about enrolling in your benefits! Of course, there’s a lot more information available in the eGuide about what those benefits actually are.
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.