2025 Open Enrollment

Beginning January 1, 2025, Fidelity will replace MyChoice Accounts as the administrator for the health savings account (HSA), flexible spending accounts (FSAs), and commuter benefits. With Fidelity, you’ll manage these accounts on the same platform as your 401(k) plan. Plus, Fidelity will give you more HSA investment options and tools you can use to make smart money moves.

What you need to know

• To have a new HSA through Fidelity, you must enroll in the Cigna HSA medical plan for 2025 and enroll in the HSA. Your 2025 contributions and Gen’s contributions will go to your Fidelity HSA.
• You have the option to transfer your current HSA balance from MyChoice Accounts to Fidelity or to keep it with MyChoice Accounts.
• MyChoice Accounts will continue to manage all 2024 FSA reimbursements through March 31, 2025.

What you need to do

• If you want to transfer your current HSA balance to Fidelity, you must provide your online consent during the Open Enrollment process. Watch for more information regarding the option to transfer your balance.
• If you want to have a health care FSA, limited-purpose FSA, or dependent care FSA in 2025, you must enroll during Open Enrollment.
• Use your MyChoice Accounts payment card for expenses through December 31, 2024, or submit 2024 FSA reimbursement claims to MyChoice Accounts by March 31, 2025.
• Use your Fidelity payment card or submit 2025 FSA reimbursement claims to Fidelity beginning in January.

This year, you have a one-time opportunity to make a larger increase in the amount of optional life insurance you have for yourself and for your spouse or domestic partner.

For you: Elect between 1 and 8 times your annual base salary. Evidence of insurability (EOI) is required if your total coverage is greater than 3 times your annual base salary or on-target earnings (OTE) or greater than $500,000. (In most years, you can only increase your coverage by 1 times your salary.)

For your spouse or domestic partner: Elect up to the total amount of basic and optional life insurance you have for yourself, with a $300,000 maximum. EOI is required.

The IRS has increased the total amount you can contribute to your health savings account (HSA) in 2025, which includes Gen’s contribution:

The IRS also raised the required deductible for HSA-eligible plans. Here are the new amounts:

You can use your HSA to pay for eligible health care expenses now, save the money for expenses in the future, or invest the money to grow your savings—all free from federal taxes. Plus, the money in the account is always yours—there’s no use-it-or-lose-it rule!

Learn more about HSA tax advantages, eligibility, and how the HSA works.

Don’t miss out

To receive the company HSA contribution, you must enroll in both the Cigna HSA medical plan and the Fidelity HSA.

In 2025, you can contribute up to $3,200 to a health care or limited-purpose flexible spending account (FSA). You’ll be able to carry over up to $640 of unused funds from 2025 to 2026—but remember, you’ll lose any unspent amount over $640.

• Health care FSA: Pay for eligible out-of-pocket expenses—such as office visit copays, prescription copays, and dental or vision expenses—with tax-free dollars.
• Limited-purpose FSA: If you’re enrolled in the Cigna HSA plan, you cannot have a health care FSA. But you can enroll in a limited-purpose FSA to use for eligible dental and vision expenses and for any medical expenses incurred after you meet your medical deductible.

You can access your full-year FSA contribution amount on January 1.

You must reenroll in the health care or limited-purpose FSA during Open Enrollment if you want to participate in 2025. You can only change your FSA contributions later if you have a qualifying life event.

No change to dependent care FSA

You can contribute up to $5,000 to a dependent care FSA if you’re single or married and filing a joint tax return, and up to $2,500 if you’re married and filing separate tax returns.

Even as the cost of health care increases year after year, Gen continues to pay the majority of those costs for you and your family. And we work hard to manage our health care plans to ensure they stay competitive. 

For 2025, you’ll see slight paycheck contribution increases for medical and dental coverage. Vision contributions are not changing. 

View the amount you’ll pay for coverage.

Some of your 2024 benefit elections will roll over to 2025, but some will not (e.g., HSA and FSA elections). It’s a good idea to review your benefits in Benefitsolver to ensure you have the coverage you want for 2025.

If you take no action during Open Enrollment:

• You’ll continue to have the same medical, dental, and vision coverage in 2025 as you currently have, covering the same dependents.
• You will not be able to contribute to a health care, limited-purpose, or dependent care flexible spending account (FSA) in 2025. To participate, you must reenroll every year.
• You will not be enrolled in a Fidelity health savings account (HSA), and you won’t receive the company HSA contribution in January. If you are enrolled in the Cigna HSA plan in 2025, you can enroll in the HSA later.
• Your HSA balance, if any, will remain with MyChoice Accounts.
• You’ll be enrolled in the same long-term disability option as you are enrolled in for 2024.
• Your 2024 voluntary elections will roll over to 2025 for life, accidental death and dismemberment (AD&D), accident, hospital indemnity, critical illness, and legal insurance.

All U.S. employees scheduled to work at least 20 hours per week and their dependents, including spouse or domestic partner, children up to age 26, and children of any age who are disabled, are eligible.

Yes, you can transfer the funds in your MyChoice Accounts HSA to your new Fidelity HSA during Open Enrollment. If you want to transfer your current HSA balance to Fidelity, you must provide your online consent.

When you transfer your funds:

• Continue to use your MyChoice Accounts HSA debit card until January 23, 2025.
• Watch for your new Fidelity HSA debit card, activate it, and start using it when your HSA is funded in January.
• There will be a blackout period from January 24, 2025, until the week of February 10, 2025, during which your MyChoice Accounts HSA balance will not be available.
• Your MyChoice Accounts HSA balance will be available in your Fidelity HSA by February 14, 2025.

If you choose to keep your current HSA balance with MyChoice Accounts, you’ll have two HSA debit cards—one for MyChoice Accounts and one for Fidelity.

• The investment holdings cannot be transferred to Fidelity. If the investment holdings are not fully liquidated, neither the cash nor investment balance can be transferred as part of the bulk transfer.
• If you consent to the HSA bulk transfer, you must liquidate your investments by January 22, 2025. Otherwise, the plan administrator will liquidate these investments on January 27, 2025, in order to transfer the account balance to Fidelity Investments.
• If you liquidate your investments at MyChoice Accounts by January 22, 2025, then your entire balance can be transferred to Fidelity as part of the bulk transfer. Also, in California and New Jersey, you will owe state tax on any investment earnings upon liquidation.

You must enroll during Open Enrollment if you want to participate in a Fidelity health care FSA, limited-purpose FSA, or dependent care FSA in 2025.

For all eligible 2024 expenses:

• Use your MyChoice Accounts FSA debit card to pay for expenses through December 31, 2024.
• Submit any 2024 FSA reimbursement claims to MyChoice Accounts by March 31, 2025.

For eligible expenses incurred starting January 1, 2025:

• Use your new Fidelity debit card to pay for eligible expenses starting on January 1, 2025.
• Submit any 2025 FSA reimbursement claims to Fidelity by March 31, 2026.

If you have just been hired or have had a status change, you must submit your elections for both plan years in a two-step process. The first enrollment will cover your benefits for 2024. Open Enrollment is for your 2025 benefits.

1. Enroll in 2024 benefits
   • Complete your 2024 enrollment at benefitsolver.com (or through Benefitsolver on MyApps).
   • If you do not wish to be enrolled in Gen’s health plans, you will need to waive coverage. As a new hire, if you do not elect to waive coverage, you will be enrolled automatically in this 2024 coverage:
     • Medical: team member-only coverage in the Cigna Health Savings Account (HSA) plan
     • Dental: team member-only coverage in the Delta Dental 1.0 plan
     • Vision: team member-only coverage in the VSP 1.0 plan
     • Long-term disability: pretax option
     • Basic life insurance: 2 times your annual base salary or on-target earnings (OTE)
     • Accidental death and dismemberment insurance: 2 times your annual base salary or OTE
     • 401(k) retirement plan: pretax contribution at 7% of your eligible pay
2. Enroll in 2025 benefits
   • Complete your 2025 enrollment at benefitsolver.com (or through Benefitsolver on MyApps).

If you enroll in your 2024 benefits and do not enroll separately in 2025 benefits:

• You’ll continue to have the same medical, dental, and vision coverage in 2025 as you elect for 2024, covering the same dependents.
• You will not be able to contribute to a health care, limited-purpose, or dependent care flexible spending account (FSA) in 2025. To participate, you must reenroll for each year.
• You will not be enrolled in a Fidelity health savings account (HSA), and you won’t receive the company contribution in January. If you are enrolled in the Cigna HSA plan in 2025, you can enroll in the HSA later.
• Your 2024 HSA balance, if any, will remain with MyChoice Accounts, and you will be responsible for account maintenance fees.
• You’ll be enrolled in the same long-term disability option as you elect for 2024.
• Your 2024 voluntary elections will roll over to 2025 for life, accidental death and dismemberment (AD&D), accident, hospital indemnity, critical illness, and legal insurance.

The Gen benefits team will mail information to your home, outlining what benefit changes you need to make (including medical, dental, vision, HSA, and health care FSA).

You are not eligible to change critical illness insurance, accident insurance, hospital indemnity insurance, dependent care FSA, or life and AD&D insurance while on an LOA. Team members on an approved long-term disability LOA cannot make changes to their long-term disability coverage during Open Enrollment.

For technical support, visit benefitsolver.com (or through Benefitsolver on MyApps). For general benefits support, contact People & Payroll SupportNow.