Enroll November 2–15, 2020
Open Enrollment is your once-a-year opportunity to make changes to your benefits and ensure they continue to meet your evolving needs. With all the changes we’ve seen in 2020, this is the ideal time to think about how your needs may be different in 2021.
What You Need to Do
- Review all the health and wellness, financial, and work/life benefits Lam offers, and think about how your needs may be different for 2021.
- Review 2021 per-pay-period costs.
- Attend an Open Enrollment presentation.
- Enroll in your benefits for 2021. You can log back in to the site at any time to change your benefits elections from Monday, November 2 through Sunday, November 15.
- Add or remove covered dependents, as needed.
- If you contribute to the Dependent Care Flexible Spending Account, Health Care Flexible Spending Account, or Health Savings Account, elect your contributions for 2021. Your 2020 elections will not roll over to the new year.
- Change or add beneficiaries, if necessary.
- Print a copy of your enrollment confirmation, and keep it for your records.
Your medical, dental, and vision plan options won’t change for 2021, but you will see an increase in your contributions for coverage. You’ll also see these changes and enhancements to other programs:
- When you take a Baby Bonding Leave or Family Care Leave that begins in 2021, your short-term disability benefits (STD, or VDI in California) will replace 100% of your pay. (For leaves that begin in 2020, the benefit is two-thirds of your pay.)
- The Employee Assistance Program will offer you up to seven free online or face-to-face counseling sessions—and unlimited telephone sessions—for each issue you or your family needs help with (increased from six sessions in 2020).
- If you’re enrolled in a CDHP, Lam will contribute $1,300 to your Health Savings Account (HSA) if you have individual coverage and $2,600 if you have family coverage. Plus, you can contribute even more to your HSA in 2021:
- Up to $2,300 if you have individual coverage
- Up to $4,600 if you’re enrolled in family coverage
- Up to an additional $1,000 if you’re age 55 or older in 2021
- You can invest your HSA balance when it reaches just $500.
- The Anthem lifetime maximums have increased to $25,000 (from $15,000) for fertility treatments and to $15,000 (from $10,000) for fertility prescriptions.
- Lam will reimburse up to $10,000 for adoption expenses (increased from $7,000).
- You may take up to 10 days of paid time off (instead of only five days) for bereavement following the death of an immediate family member.
- The group legal plan will provide services for even more legal needs, such as support for rental property owners.
- Castlight will no longer be offered as a service to help you locate medical and dental providers. You can find doctors and dentists using the Anthem and Delta Dental locator tools.
Other Things to Consider
Compare Medical Plans
Depending on where you live, you have up to four medical plans to choose from. All the plans cover preventive care at no cost to you, offer coverage for prescription drugs, and provide financial protection in the event of a major illness or injury.
Take time to consider your needs, your budget, and what’s most important to you—such as paycheck deductions, flexibility in providers, and out-of-pocket costs—before you choose your medical plan.
Is Your Plan Still the Right One for You?
Answer just a few questions in the medical plan selection support tool, and it can help confirm whether your current plan is aligned with your needs or help you choose among your options. It only takes a couple of minutes and will be time well spent.
Plan for the Unexpected
Use Your 2020 FSA by December 31
Only $550 of your remaining 2020 Health Care FSA balance can roll over to 2021. You must incur eligible expenses by December 31, 2020, and claim expenses by March 31, 2021, or you will lose any balance over $550.
Temporary COVID-19 Support Benefits
This year, Lam has provided additional support for you and your family during the response to the COVID-19 pandemic. While these benefits are subject to change, here’s what’s currently available.
- To help you get care without going to the doctor’s office, telemedicine visits are available at no cost through at least December 31, 2020.
- You may use up to 20 days of backup care through Care.com in 2021, instead of only 10. And if a caregiver in the Care.com network is not available, you can use another day care center, family member, friend, neighbor, or babysitter.
- The five-workday waiting period before short-term disability (STD or VDI) benefits begin does not apply if you’re sick with COVID-19.
- Family Care Leave is expanded to cover care for dependents whose school or care facility is closed to in-person attendance as a result of COVID-19.
- The Underlying Medical Condition Leave recognizes the risk of COVID-19 for people with certain medical conditions. You may be eligible for this leave if you cannot work on site or from home as a result of your or a family member’s underlying medical condition.
If You Take No Action During Open Enrollment
- You will not be able to contribute to a Health Care or Dependent Care FSA in 2021.
- You will be enrolled in the same medical, vision, and dental plans you had in 2020, with the same dependents (if eligible). If you waived health care coverage in 2020, you will continue to have no health care coverage in 2021.
- Your HSA employee contribution amount will be reset to zero until you elect to change it. Lam will continue to make contributions to your HSA.
- You will be enrolled automatically in the applicable short-term disability plan (VDI for California employees and STD for all others).
Tips for Using the Enrollment Site
- The site will display your benefit options with a button that says View or Change Plan (if you have an election carrying over from 2020) or Shop Plans (if you do not yet have an election for 2021). Click the button to see your benefit plan choices.
- When you’ve made a new benefit election, click the Update Cart button.
- If you want to decline a plan, click the blue text that says Decline <type of coverage> below the Update Cart button.
- You must click Checkout at the bottom of the page to save your benefit elections and complete your enrollment.
Open Enrollment Virtual Presentations
Consider attending an optional virtual presentation to learn about Lam benefits and get answers to your questions.
|Tuesday, October 27||12–1 p.m. PT
7:30–8:30 p.m. PT
|Thursday, October 29||12–1 p.m. PT
7:30–8:30 p.m. PT
|Wednesday, November 4||12–1 p.m. PT|
Phone: 510-572-1212 (toll) or 855-205-6503 (toll-free)
Conference ID: 724 138 167#
If your chosen meeting has reached capacity, try to attend at another time. You may also view the presentation slides at your convenience. [PDF].