Open Enrollment for 2023 is completed. The benefits you elected will take effect January 1. If you experience a qualifying life event during the year, you can make plan changes, add or drop coverage for dependents, or enroll in a new plan.
Enroll November 1–15, 2022
Take the time to explore all the benefits available to you in 2023. Then, choose the ones that will meet your needs. The benefits you elect will take effect January 1.
If you don’t enroll, you will have the same medical, dental, and vision plans you had in 2022, and you will not have a Health Care or Dependent Care Flexible Spending Account (FSA).
Who’s eligible for benefits
If you’re a full-time or part-time regular-status Lam or Silfex employee who works 20 or more hours per week, you’re eligible for Lam benefits. Your spouse or domestic partner and children may also be eligible.
Definition of eligible spouse
A person is your spouse if you are legally married to each other, and the marriage has not been legally terminated, and you and your spouse are not legally separated.
Definition of eligible domestic partner
All the following criteria must be met for your same-sex or opposite-sex domestic partner to qualify for coverage:
- You are both at least 18 years old and live together in the same residence and intend to do so indefinitely. You have resided in the same household for at least 12 months.
- You are engaged in an intimate, committed relationship of mutual caring and support and are jointly responsible for your common welfare and living expenses.
- You are each other’s sole domestic partner, and you intend to remain so indefinitely.
- Neither of you is married nor have you had another domestic partner within the prior 12 months.
- You are not related by blood to such a degree that you would be prevented from marrying in the state in which you live.
Definition of eligible children
- A child who is under age 26 who is:
- Your, your spouse’s, or your domestic partner’s natural child, stepchild, or legally adopted child or a child who is in the process of being adopted
- A child for whom you, your spouse, or your domestic partner has been appointed legal guardian
- A child for whom you, your spouse, or your domestic partner is required to provide coverage under a qualified medical child support order
- An unmarried child of any age if he or she is dependent on you, your spouse, or your domestic partner for support due to a physical or mental disability
What you need to do
- Review all the health and wellness, financial, and work/life benefits Lam offers, and consider how your needs may be different in 2023.
- Use the medical plan selection support tool to validate your medical plan choice.
- Review 2023 per-pay-period costs.
- Attend an Open Enrollment presentation.
- Enroll in your benefits for 2023. You can log back in to the site at any time to change your benefit elections from Tuesday, November 1 through Tuesday, November 15.
- Add or remove covered dependents, as needed.
- Enroll in programs that offer additional financial security, including the MetLife hospital indemnity, accident, and critical illness insurance plans, LifeLock identity theft protection, and the ARAG legal plan, as desired.
- If you contribute to the Dependent Care Flexible Spending Account or Health Care Flexible Spending Account, elect your contributions for 2023. Your 2022 FSA elections will not roll over to the new year.
- If you have a Health Savings Account, elect your contribution amount for 2023. You can increase your contributions to reach the higher HSA maximum for 2023.
- Review your beneficiaries for these plans, and make any changes on the administrator’s website:
- From the enrollment site, download a copy of your enrollment confirmation, and keep it for your records.
What’s new and changing
There are no major changes to your medical, dental, or vision plans for 2023. Here’s a look at some things that are being updated:
New: Virtual physical therapy
Beginning January 1, you’ll have an easier, more convenient, and cheaper way to get support for your muscle, bone, and joint health. You and your family members enrolled in a Lam medical plan will pay nothing for our new virtual physical therapy benefits.
The benefits will include:
- 1:1 video sessions—that fit your schedule—with a licensed physical therapist, as a replacement or supplement to in-person physical therapy
- Sensor technology that provides real-time feedback, so you can improve your exercise form and feel relief sooner
- Programs tailored to your needs to help you reduce pain and discomfort, prevent larger problems, or recover from an injury
- No cost to you and your eligible family members, since Lam picks up 100% of the cost (unlike physical therapy through your medical plan, which may require deductibles or copayments)
Watch for more information in January.
Enhanced: Kaiser coverage
Kaiser coverage has been expanded for acupuncture and fertility services.
All Kaiser members will have access to a combined total of 20 chiropractic and/or acupuncture visits per year with a $10 copay per visit.
Fertility services have been increased for all Kaiser plans to include:
|California CDHP||Infertility treatment with $30 copay; 1 ART cycle per lifetime|
|California HMO||Infertility treatment with $20 copay; 1 ART cycle per lifetime|
|Northwest CDHP||50% coinsurance for infertility diagnosis; 50% coinsurance for ZIFT and GIFT with a $30,000 lifetime maximum|
|Northwest HMO||50% coinsurance for infertility diagnosis; 50% coinsurance for ZIFT and GIFT with a $30,000 lifetime maximum|
Assisted reproductive technology (ART) services include in vitro fertilization (IVF), gamete intrafallopian transfer (GIFT), and zygote intrafallopian transfer (ZIFT). Kaiser does not offer egg or embryo freezing for long-term storage.
New: PrudentRx for Anthem Base PPO
Anthem PPO members who use specialty medications may save on some prescriptions by enrolling in the PrudentRx program. PrudentRx is a partner of CVS Caremark that will work with you to apply for drug manufacturers’ copay assistance for certain covered specialty medications.
If you are prescribed a covered medication, PrudentRx will call you in December to help you enroll in the program. If you enroll, you will have a $0 copay for any covered specialty medication, even if it is not eligible for a manufacturer’s copay assistance program.
Updated: Higher CDHP deductible
To meet new IRS requirements for high-deductible health plans, the in-network deductible for an individual within a family covered by the Anthem CDHP or Kaiser CDHP will increase to $3,000 for 2023 (up from $2,800). The individual and family deductibles remain $2,000 and $4,000, respectively.
Updated: Lifestyle Account reimbursement
Through your Lifestyle Account, you can be reimbursed up to $500 each year for eligible expenses that help you achieve your fitness, financial, and educational goals.
Beginning in 2023, reimbursements will be made through Payroll. You should continue to submit claims through Optum Financial, and your approved reimbursement will come in the next available pay period following the submission of your claim.
Remember, 2022 claims can be submitted through January 31, 2023; these claims will be paid by Optum. All claims for expenses incurred in 2023 will be paid through Payroll.
Updated: More HSA savings potential
If you’re enrolled in a Consumer Directed Health Plan (CDHP), Lam will contribute $1,300 to your Health Savings Account (HSA) if you have individual coverage and $2,600 if you cover yourself and one or more dependents. Plus, you can contribute even more to your HSA, with higher IRS limits in 2023:
- Up to $2,550 if you have individual coverage (for a total of $3,850 with Lam’s contribution)
- Up to $5,150 if you cover yourself and one or more dependents (for a total of $7,750 with Lam’s contribution)
- Up to an additional $1,000 if you’re age 55 or older in 2023
New this year: Your 2022 contribution elections will roll over to 2023, so be sure to increase your contributions during Open Enrollment if you want to hit the new maximum amount.
Updated: Paycheck contributions
Your contributions for Lam medical plans will increase slightly for 2023. For the second year in a row, dental and vision contributions will not increase in 2023.
Updated: One Medical memberships
Lam will no longer automatically provide free employee membership in One Medical. However, you can still use One Medical for your care; just pay the membership fee yourself, and—if you wish—request reimbursement through your Lifestyle Account.
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 additional 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.
Answer just a few questions in the medical plan selection support tool to help you choose among your options or confirm whether your current plan is aligned with your needs.
Prepare for the unexpected with voluntary supplemental medical benefits
Your medical plan from Lam (or somewhere else) pays for care to keep you healthy and get you back on your feet when you’re sick or injured. But medical insurance won’t help you pay your rent or other everyday expenses.
That’s where these voluntary supplemental medical benefits from MetLife come in handy. The plans pay money directly to you, which you can use for your out-of-pocket medical expenses, like copays and deductibles—or for household expenses and bills.
You can only enroll in the supplemental medical benefit plans during Open Enrollment. You can purchase coverage for yourself, your spouse or domestic partner, and your children, without answering health questions. You pay for these plans with after-tax payroll deductions, so any benefits you receive are not taxed when a claim is paid.
- Accident insurance pays you a lump-sum payment if you’re injured in an accident.
- Hospital indemnity insurance pays you a lump-sum payment when you’re admitted to a hospital—plus a per-day payment for each day of your stay. The plan covers hospitalization due to injury, illness, and childbirth.
- Critical illness insurance provides you with a lump-sum payment of $15,000, $30,000, or $50,000 (depending on the coverage level you select) when you're diagnosed with a covered serious condition.
Earn a $50 screening benefit
If you enroll in the hospital indemnity plan and/or critical illness plan, you and your covered dependents can each earn a $50 annual benefit when you complete one of more than 50 eligible health screenings.
Claim your 2022 FSA expenses by March 31
You can only carry over up to $550 from your 2022 Health Care FSA to your 2023 FSA. You will forfeit any Dependent Care FSA balance that is unused at the end of 2022 (the temporary pandemic rollover allowance has expired).
Elect your 2023 FSA contributions
For 2023, you can contribute up to $2,850 to a Health Care FSA. You will be able to carry over up to $570 from your 2023 Health Care FSA to your 2024 FSA.
You can also contribute up to $5,000 to a Dependent Care FSA if you’re single or if you’re married and filing a joint tax return, or $2,500 if you’re married and filing separate tax returns.
You will forfeit any unused Dependent Care FSA balance at the end of 2023.
Note: If your projected 2023 earnings are higher than $135,000, you will be permitted to contribute only up to $2,000 to a Dependent Care FSA, including the 15% matching contribution from Lam. This limit is intended to help the company comply with IRS regulations regarding plan use by highly compensated employees. It is still possible that your contribution may be further reduced in 2023 if we find that the plan does not meet IRS requirements. Lam will notify you if this happens.
Get additional peace of mind
During Open Enrollment, you can elect the ARAG legal plan for support with a wide variety of legal concerns for you and your parents and grandparents. You can also enroll in LifeLock identity theft protection to receive proactive identity theft monitoring and expert identity restoration support, if needed.
Take care of the people you love
Make sure you’ve named the beneficiaries who will receive the money from your life insurance, 401(k), HSA, and ESPP after you’re gone.
If you take no action during Open Enrollment
- You will not be able to contribute to a Health Care or Dependent Care FSA in 2023.
- You will be enrolled in the same medical, vision, and dental plans you had in 2022, with the same dependents (if eligible). If you waived health care coverage in 2022, you will continue to have no Lam health care coverage in 2023.
- Your 2022 HSA employee contribution amount election will roll over to 2023. You’ll need to select a new contribution amount if you want to hit the new, higher HSA maximum for 2023.
- 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 2022) or Shop Plans (if you do not yet have an election for 2023). 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 below the Update Cart button that says Decline <type of coverage>.
- Be sure to add your dependents to each plan as you select your benefits. Simply adding dependents to PlanSource in step 2 does not enroll them in benefits. To ensure each family member is enrolled, review Family Covered under each benefit.
- You must click Checkout at the bottom of the page to save your benefit elections and complete your enrollment.