1 2021 Open Enrollment FAQs 2021 Open Enrollment 1. When does the 2021 Open Enrollment period begin and end? 2. How do I complete my enrollment? 3. If I don’t enroll by November 18, what coverage will I have in 2021? 4. What if I don’t need benefits coverage? 5. Can I change coverage during the year? 6. Where can I find more information? 2021 Benefit Plan and Program Changes For additional information about the changes below, review the 2021 Open Enrollment Guide on bnymellonbenefits.com. 1. Will there be an increase in medical premiums for 2021? 2. How will Medical Plan benefits change in 2021? 3. Why are you moving to Anthem as a single national medical carrier? 4. Will my current provider be in Anthem’s network? 5. Why are you introducing Accolade? 6. What does Accolade do? 7. What can Accolade help me with during Annual Open Enrollment? 8. Can I use Accolade if I don’t enroll in a BNY Mellon medical plan with Anthem? 9. With the move to Anthem and Accolade, will I get a new ID card? 10. Why are you introducing the new Copay Plan? 11. Will there be any changes to the Dental Plan options for 2021? 12. Will we still have Best Doctors available for second opinions? 13. What is the maximum IRS contribution limit for Health Care Flexible Spending Accounts in 2021? 14. What is the maximum IRS contribution limit for Health Savings Accounts in 2021?
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2021 Open Enrollment FAQs
2021 Open Enrollment 1. When does the 2021 Open Enrollment period begin and end?
2. How do I complete my enrollment?
3. If I don’t enroll by November 18, what coverage will I have in 2021?
4. What if I don’t need benefits coverage?
5. Can I change coverage during the year?
6. Where can I find more information?
2021 Benefit Plan and Program Changes For additional information about the changes below, review the 2021 Open Enrollment Guide on bnymellonbenefits.com.
1. Will there be an increase in medical premiums for 2021?
2. How will Medical Plan benefits change in 2021?
3. Why are you moving to Anthem as a single national medical carrier?
4. Will my current provider be in Anthem’s network?
5. Why are you introducing Accolade?
6. What does Accolade do?
7. What can Accolade help me with during Annual Open Enrollment?
8. Can I use Accolade if I don’t enroll in a BNY Mellon medical plan with Anthem?
9. With the move to Anthem and Accolade, will I get a new ID card?
10. Why are you introducing the new Copay Plan?
11. Will there be any changes to the Dental Plan options for 2021?
12. Will we still have Best Doctors available for second opinions?
13. What is the maximum IRS contribution limit for Health Care Flexible Spending Accounts in 2021?
14. What is the maximum IRS contribution limit for Health Savings Accounts in 2021?
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2021 Medical Plans 1. What are the medical plan options for 2021?
2. What should I consider when choosing among the medical plan options?
3. What differences can I expect to see in my out-of-pocket costs when I use an Anthem in-network provider vs. an out-of-network provider?
2021 Health Savings Accounts (for those enrolled in the Lower Deductible or Higher Deductible HSA Plan)
1. Can I contribute to a Health Savings Account if I am enrolled in one of the HSA medical plans for 2021?
2. If I change enrollment from one HSA medical plan to the other in 2021, will it affect my current Health Savings Account?
3. Does BNY Mellon contribute to my Health Savings Account? If so, how much?
4. What are the different ways I can build a Health Savings Account balance?
5. Does the IRS limit how much I can contribute to a Health Savings Account?
6. How should I calculate how much to contribute through payroll deductions to my Health Savings Account, taking into consideration any reward contributions I may earn through participation in the 2021 Wellbeing Points Program?
7. Who is responsible for ensuring that my total contributions to my Health Savings Account do not exceed the maximum contribution allowed by the IRS?
8. If I am currently enrolled in an HSA Plan with a Health Savings Account and decide to enroll in the new Copay Plan or my spouse’s/qualified domestic partner’s medical plan next year, will I still be able to access my Health Savings Account in 2021?
9. How can I learn more about using a Health Savings Account?
10. What tax-filing considerations should I be mindful of if I have a Health Savings Account?
11. Does BNY Mellon sponsor the Health Savings Account?
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Medicare and Your Health Savings Account If you are approaching age 65, it is important to understand how your eligibility for Medicare may impact your Health Savings Account. Due to IRS rules, once you enroll in any part of Medicare (Part A, Part B, Part D, etc.) you are no longer allowed to receive or make contributions to a Health Savings Account. The following information is intended to help you determine when you should stop contributing to your Health Savings Account and how you should manage and use the account going forward.
1. What should I consider about my Health Savings Account as I near Medicare eligibility?
2. Can enrolling for Social Security retirement benefits affect my eligibility to make or receive Health Savings Account contributions?
3. Can I establish a Health Savings Account if I am enrolled in Medicare?
4. Can I spend from Health Savings Account funds if I’m enrolled in Medicare?
5. What do I need to know about my Health Savings Account and being enrolled in any part of Medicare (Parts A, B and D)?
6. I will be eligible for Medicare this year, but do not plan to enroll until I retire. I will remain enrolled in a BNY Mellon HSA Plan until that time. Can I keep contributing to my Health Savings Account?
7. What if I participate in a Health Savings Account through my spouse’s employer?
8. What if I received Medicare Part A under age 65 through disability?
9. What are the consequences of contributing funds to my Health Savings Account while enrolled in Medicare?
10. Where can I find more information?
2021 Health Care Flexible Spending Accounts 1. How much can I contribute to a Health Care Flexible Spending Account (FSA)?
2. Can I make contributions to a Health Care FSA if I am enrolled in the Lower or Higher Deductible HSA Plan and have a Health Savings Account?
3. I am enrolled in either the Lower or Higher Deductible HSA Plan, but do not make contributions to my Health Savings Account. Can I still make contributions to a Health Care FSA?
4. If I am not enrolled in a BNY Mellon medical plan option, can I still enroll in and contribute to the Health Care FSA?
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Legacy Health Reimbursement Account Balances (for those enrolled in the former Plan HRA prior to January 1, 2019)
1. I still have a balance in my Legacy Health Reimbursement Account (HRA) even though I am now enrolled in the Lower or Higher Deductible HSA Plan. How can I use those funds?
2. Whom do I contact if I have questions about my Legacy HRA?
2021 Wellbeing Points Program (formerly Wellbeing Rewards Program) through Virgin Pulse
1. What is the Wellbeing Points Program?
2. Is the Wellbeing Points Program the same as the Wellbeing Rewards Program?
3. Who is eligible to participate in the Wellbeing Points Program?
4. What activities are part of the Wellbeing Points Program and what are the Program dates?
5. Once I complete an activity, when will reward contributions be deposited to my Health Savings Account?
6. How will I earn contributions if I am enrolled in any part of Medicare or TRICARE?
7. Can I still earn reward contributions if I am unable to meet a standard or complete an activity?
8. How do I enroll in the Wellbeing Points Program?
9. Can I participate in the Wellbeing Points Program if I don’t enroll in one of the HSA Plans?
10. Will my personal health data be shared with BNY Mellon?
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Voluntary Benefits 1. What opportunities do I have to enroll in voluntary benefits during Annual Open Enrollment?
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2021 Open Enrollment
1. When does the 2021 Open Enrollment period begin and end?
Open Enrollment for 2021 benefits begins October 28 and ends November 18, 2020. The Open Enrollment period is your single opportunity (unless you experience a qualified life event or special enrollment event during the year) to review your current benefits elections and choose coverage for the coming year.
2. How do I complete my enrollment?
You can enroll and make changes to your elections at any time during the Open Enrollment period (October 28 – November 18, 2020) by visiting MyBenefit Solutions. This site can be accessed in the following ways:
• At Work Single sign-on access through MyReward (MySource > HR & Personal > MyReward > Logon to MyReward > Proceed to My Personal Total Reward Data > MyBenefit Solutions).
• At Home: mybenefits.bnymellon.com (If you are a new employee or have not already registered, you will need to create a username and “password.”)
3. If I don’t enroll by November 18, what coverage will I have in 2021?
If you don’t enroll by the November 18 deadline, your 2021 benefit coverage will be as follows:
• All of your current benefit elections (other than as described below), if any, will carry forward for 2021 at the applicable 2021 semi-monthly premium rates; however, if your medical carrier is currently Aetna or UnitedHealthcare, your medical carrier will change to Anthem Blue Cross Blue Shield. The following current benefit elections will not carry forward:
• Your 2020 employee contributions to a Health Savings Account, Health Care or Limited Purpose Healthcare Flexible Spending Account, Dependent Care Flexible Spending Account, and 2020 Flex Vacation elections, if any, will not automatically carry forward to 2021. You must make elections for these benefits each year during Open Enrollment.*
• If you are not enrolled in BNY Mellon-sponsored group health insurance coverage for 2020, you will not be enrolled in coverage for 2021.
If you miss the enrollment deadline, you will not have another chance to enroll in or change your benefits during 2021 unless you have a qualified life event or special enrollment event.
*Note: If you do not want to receive the default coverage, you must make an election by November 18, 2020. If you do not make an election by the deadline and you are automatically re-enrolled in your 2020 elections, you will pay the applicable 2021 contribution rate for such coverage. You will be deemed to have authorized per-paycheck premium deductions at the applicable 2021 rates.
4. What if I don’t need benefits coverage?
You can waive BNY Mellon-sponsored medical coverage for 2021.
You can only change certain coverage by providing notice within 31 days of experiencing a qualified life event (or 60 days if you lose coverage under a Medicaid or state children’s health insurance program [CHIP] or become eligible to receive premium assistance under those programs). Specifically, you can change to no longer needing coverage; you can begin coverage (if you were previously covered under a spouse’s/qualified domestic partner’s plan who then lost coverage); or you can add/ remove dependents based on the qualified life event. Qualified life events include getting married, divorced, and having a baby, among other life events.
To do so, visit MyBenefit Solutions through MyReward at work or mybenefits.bnymellon.com from home.
(If you are a new employee or have not already registered, you will need to create a username and password.) Or, contact the BNY Mellon Benefit Solutions Service Center directly at 1-855-354-6490, Monday through Friday between 8:30 a.m. and 8 p.m. ET.
If you do not report the change, request a new benefit election and provide supporting documentation within this 31-day period (or 60-day period, as applicable), you cannot change your elections until the next Open Enrollment period or other qualifying life or other special enrollment event.
For more information about qualified life events, refer to the 2021 Open Enrollment Guide for active employees, available on bnymellonbenefits.com.
6. Where can I find more information?
Visit MyBenefit Solutions for information and tools you can use to learn about your 2021 benefit options and compare and evaluate them before choosing what’s best for your anticipated needs. If you still need additional information:
• For general questions about benefits or enrollment:
• Call the BNY Mellon Benefit Solutions Service Center directly at 1-855-354-6940, Monday through Friday between 8:30 a.m. and 8 p.m. ET.
• For answers to specific questions about your 2021 medical plan options and other BNY Mellon benefit options, help finding a new Anthem in-network provider, and help with transition of care*:
• Call Accolade at 1-833-640-0427. Health Assistants are available Monday through Friday between 8 a.m. and 11 p.m. ET. Please see the 2021 Benefit Plan and Program Changes section for more information about Accolade.
*Although Accolade’s full suite of healthcare resources and technology will not be available until January 1, 2021, phone support begins with 2021 Open Enrollment
• Learn more about Health Savings Accounts by visiting the BenefitWallet microsite at www.mybenefitwalletsite.com/bnymellon.
2021 Benefit Plan and Program Changes For additional information about the changes below, review the 2021 Open Enrollment Guide on bnymellonbenefits.com.
1. Will there be an increase in medical premiums for 2021?
Due to the rising cost of healthcare, medical plan premiums will increase on average by 3% for 2021. It’s important to note that this increase is less than it was last year and is also lower than the rate of healthcare inflation. That’s due in large part to BNY Mellon’s continued focus on controlling healthcare costs for you and the Company.
It’s also important to note that while premiums are increasing, there will be no benefit changes to the Lower and Higher Deductible HSA Plans. Plus, we’re introducing a new Copay Plan option to provide you with even more choice. In addition, we’re making your medical coverage simpler by eliminating the preferred and nonpreferred medical plan premiums (based on the state you live in), which were in place for Aetna and UnitedHealthcare in 2020; instead, we’ll have one premium structure.
So, be sure to review your medical plan options and premiums during this Open Enrollment and choose the plan that best meets your needs from a healthcare and cost perspective for 2021.
2. How will Medical Plan benefits change in 2021?
Starting in 2019, we committed to a multi-year initiative to provide accessible, affordable, and effective healthcare for our employees and their families. In keeping with that commitment, this year we evaluated our healthcare program to ensure it continues to be designed with you in mind. As a result, we are shifting our focus to deliver:
• A new single national medical carrier, Anthem, which offers a broad national network of providers. Aetna and UnitedHealthcare will no longer be offered. Regional plans will remain in place, including Kaiser Permanente (California), HMSA (Hawaii), and the Aetna International (Expat) Plans. Additionally, the Lower and Higher Deductible HSA Plans will continue to be offered with no changes, although your medical carrier will change from Aetna or UnitedHealthcare to Anthem.
• An innovative and simplified user experience through Accolade. Accolade Health Assistants will provide personalized support to answer your questions, help you understand your benefits, and work with you on every step of your healthcare journey.
• A new medical plan option, the Copay Plan, which provides an additional choice for employees and their family members.
3. Why are you moving to Anthem as a single national medical carrier?
Over the past 18 months, BNY Mellon completed a comprehensive review of the medical insurance marketplace to help ensure you continue to receive high-quality, affordable medical coverage. As a result of this review, Anthem Blue Cross Blue Shield will become the single national carrier for the BNY Mellon medical plan options, beginning January 1, 2021. By moving to a single carrier, we’re making it easier for you because you no longer have to choose between two carriers—in fact, we did your homework for you. We chose Anthem because of their:
• Broad national network of doctors, specialists, and Centers of Excellence.
• National recognition program, Blue Distinction Specialty Care, which helps make it easier for you to find quality specialty care.
• Ability to process your claims effectively, making it easier for you to manage your healthcare.
• Telehealth service, LiveHealth Online®, which offers private and secure video visits with board-certified doctors and licensed therapists.
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4. Will my current provider be in Anthem’s network?
As an Anthem Blue Cross Blue Shield member, you will have access to care across the country through Anthem’s broad network of participating providers, the BlueCard® program. While most doctors and facilities in the Aetna and UnitedHealthcare networks participate with Anthem, beginning October 28, you can go to anthem.com/bnymellon to verify whether your current providers participate, and also search for other in-network providers. You can also call Accolade at 1-833-640-0427 and a Health Assistant can help you with your search. If your provider does not participate with Anthem, you can work with your Accolade Health Assistant to find another in-network provider who meets your needs.
5. Why are you introducing Accolade?
BNY Mellon has been focused on improving your healthcare experience and we are pleased to introduce a single point of contact: your Health Assistant at Accolade. Accolade will be the one place you can go for help navigating your BNY Mellon healthcare benefits and programs.
6. What does Accolade do?
Accolade is an independent healthcare advocacy company, which provides you and your family personalized support when making your healthcare decisions—at no cost to you. Accolade replaces the traditional customer service and healthcare management functions previously provided by your medical carrier and will serve as your single point of contact for most of your health and benefit questions, now and throughout 2021.
Beginning January 1, 2021, if you enroll in the Lower or Higher Deductible HSA Plan or the Copay Plan, your Accolade Health Assistant, supported by a full suite of healthcare resources and technology, can help you:
• Obtain a new Anthem ID card
• Find quality and cost-effective providers in Anthem’s network
• Understand your medical costs and coverage
• Coordinate with healthcare providers and manage your care
• Work with Anthem to resolve your claims and billing issues
• Understand your options, to help you make the best healthcare decisions possible
• Connect with the various BNY Mellon benefits, programs, and resources available to you, including plans like prescription drug, dental, vision, and life insurance
• Get help managing a chronic condition or disease
• Connect with a nurse 24/7
• And more!
7. What can Accolade help me with during Annual Open Enrollment?
Beginning October 28, call Accolade at 1-833-640-0427 to access your Health Assistant for answers to questions about your 2021 medical plan options, as well as your other BNY Mellon benefit options. Your Health Assistant can help you find a new Anthem in-network provider and get help with transition of care. Your Health Assistant is available Monday through Friday between 8 a.m. and 11 p.m. ET.
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8. Can I use Accolade if I don’t enroll in a BNY Mellon medical plan with Anthem?
Absolutely! Accolade can still help with questions about your other BNY Mellon benefits and can even connect you with a nurse if you or an eligible dependent has symptoms you need help diagnosing.
9. With the move to Anthem and Accolade, will I get a new ID card?
Yes, you and any dependents who are covered under your medical plan will each receive their own ID card from Anthem. However, because Accolade will be your single point of contact, you’ll see Accolade’s phone number instead of Anthem’s customer service phone number on your new Anthem medical plan ID card.
10. Why are you introducing the new Copay Plan?
Since the introduction of our high deductible health plan options, some employees have expressed interest in having a greater choice of medical plans, including an option that offers more cost predictability when receiving healthcare. We’ve been listening, and that’s why we’re adding a new Copay Plan option to our medical plan lineup.
The new Copay Plan offers:
• $0 copay for BNY Mellon onsite Health Center visits in New York, New Jersey, and Pittsburgh. Onsite Health Centers are available to active, benefits-eligible employees.
• $0 copay for Anthem LiveHealth Online telehealth services.
• Fixed copays instead of deductible and coinsurance for certain non-preventive services, like doctor’s office visits and prescription drugs.
• A lower deductible than the Lower Deductible and Higher Deductible Health Savings Account (HSA) Plan options for certain services, including inpatient hospital care, outpatient hospital care, and imaging and lab services.
11. Will there be any changes to the Dental Plan options for 2021?
Yes, to provide a higher level of coverage under the MetLife Dental Plan Option 2, we’re increasing the annual benefit maximum from $1,500 to $2,000. For more details about the benefits covered under the dental plan options, see the Dental and Vision section of the 2021 Open Enrollment Guide.
12. Will we still have Best Doctors available for second opinions?
Yes! You’ll have Best Doctors available as a virtual care service that provides access to experts for medical advice and medical opinions; however, beginning January 1, 2021 it is changing its name to Teladoc Medical Experts. The services are not changing and remain available to you, your eligible dependents, and parents and parents-in-law at no cost. You’ll continue to use Teladoc Medical Experts when you need:
• Confirmation of a recent diagnosis
• A review of an upcoming surgery or treatment plan
• Help with a chronic condition
• Help with a specific question about your health
• Finding a doctor who specializes in your condition
Beginning in January, you can use teladoc.com/medicalexperts and the Teladoc mobile app to access Medical Experts. To access Medical Experts, you’ll need to register and create a new account. If you previously registered with Best Doctors, you’ll use the same email address you used for your Best Doctors account for your profile and case history to carry over. If you have questions, call 1-800-Teladoc (1-800-835-2362).
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13. What is the maximum IRS contribution limit for Health Care Flexible Spending Accounts in 2021?
In 2021, the maximum annual Healthcare and Limited Purpose Healthcare Flexible Spending Account contribution will increase by $50 to $2,750. The $550 carryover of unused amounts remaining in your account at the end of the calendar year will continue to be available. If you exceed this limit, you may be subject to penalty taxes.
14. What is the maximum IRS contribution limit for Health Savings Accounts in 2021?
The maximum annual Health Savings Account contribution for 2021 will increase by $50 for Employee Only coverage and $100 for other coverage levels as follows:
• $3,600 (Employee Only coverage) plus $1,000 if you are age 55 or older during 2021
• $7,200 (other coverage levels) plus $1,000 if you are age 55 or older during 2021
Note that these amounts include the BNY Mellon automatic contribution to your account plus any amounts contributed as Wellbeing reward contributions. It is your responsibility to be sure you do not exceed the maximum total amount allowed by the IRS. Otherwise, you may be subject to penalty taxes.
Also, please note that contributions are not permitted to a Health Savings Account if you have other medical coverage that is not a high deductible health plan, including any part of Medicare or TRICARE.
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2021 Medical Plans
1. What are the medical plan options for 2021?
The Higher Deductible and Lower Deductible HSA Plans currently being offered in 2020 will continue to be offered in 2021 with no changes. You’ll also have the new Copay Plan as an option for 2021. See 2021 Benefit Plan and Program Changes for details.
Employees in California and Hawaii will continue to be eligible to enroll in local health plan options (Kaiser and HMSA Hawaii) in addition to the three Anthem plan options, and Expats will continue to be eligible to enroll in the Aetna International Plan.
2. What should I consider when choosing among the medical plan options?
To help decide which medical plan is right for your needs, you should:
• Compare the features of the medical plans using the full details about coverage and costs available on the MyBenefit Solutions enrollment site. You can review Health Plan Comparison Charts on the MyBenefit Solutions website, and view a benefits comparison in the 2021 Open Enrollment Guide found on bnymellonbenefits.com.
• Access the tools and resources available on MyBenefit Solutions to help you learn about the plans and make better informed enrollment decisions, including the Healthcare Cost Summary, Medical Expense Estimator and Help Me Choose tools.
• Call Accolade at 1-833-640-0427 with questions about your 2021 medical plan options.
• Understand how the medical plan premiums compare between the options.
3. What differences can I expect to see in my out-of-pocket costs when I use an Anthem in-network provider vs. an out-of-network provider?
You can expect to pay less when you use in-network providers. Here are four reasons why:
1. Your eligible expenses are reimbursed at a higher rate when you visit an in-network provider.
2. In-network providers have contracted with Anthem to accept certain negotiated rates, which means you generally benefit from discounts on the cost of their services. Out-of-network providers generally have not agreed to negotiated rates, meaning their charges may be higher.
3. When you use out-of-network providers, the Plan reimburses you based on Usual, Customary and Reasonable (UCR) fees, which may be lower than what your provider charges. You are responsible for 100% of the fees, if any, that exceed the UCR amount, as determined by your plan. A provider can therefore bill you for fees that exceed the UCR reimbursement amount of your plan; this is “balance billing”. Note that amounts in excess of UCR amounts will not apply to your deductible and/or out-of-pocket maximum under the Plan.
4. In-network deductibles and copays are lower than out-of-network deductibles and copays, meaning that you will pay more out-of-pocket before deductibles are met and the plan begins to reimburse you for costs.
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2021 Health Savings Accounts (For those enrolled in the Lower Deductible or Higher Deductible HSA Plan)
1. Can I contribute to a Health Savings Account if I am enrolled in one of the HSA medical plans for 2021?
IRS rules determine whether you are eligible to open a Health Savings Account (i.e., you must be enrolled in a qualified high-deductible health plan) and whether you are eligible to make and receive Health Savings Account contributions.
If you elect either the Lower Deductible HSA Plan or Higher Deductible HSA Plan for 2021, you will be able to set up a Health Savings Account. After you enroll, you will receive information from BenefitWallet, the independent administrator for your Health Savings Account, about establishing and activating your account. Your account will not be activated, and you will not be able to contribute or withdraw funds (including BNY Mellon contributions), unless you accept the Health Savings Account terms and conditions and return the information needed by BenefitWallet to activate your account.
Note: If you already have a BenefitWallet Health Savings Account, you will not be required to open a new account.
Remember, too, that even if you are enrolled in a Health Savings Account-qualified high deductible health plan, you cannot participate in a Health Savings Account if you are covered by another non-high deductible health plan (including any part of Medicare or TRICARE) or claimed as a dependent on another person’s tax return.
The Copay Plan, HMSA Hawaii Plan, Kaiser Permanente Plan and Aetna International Plan are not qualified high-deductible health plans. Those enrolled in any of these plans are not eligible to make Health Savings Account contributions, receive BNY Mellon contributions to a Health Savings Account or earn reward contributions to a Health Savings Account when participating in the Wellbeing Points Program.
2. If I change enrollment from one HSA medical plan to the other in 2021, will it affect my current HSA?
No. Your current Health Savings Account will remain and any new contributions you or BNY Mellon makes will be added to your current account.
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3. Does BNY Mellon contribute to my Health Savings Account? If so, how much?
If you are an active employee enrolled in either the Lower Deductible HSA Plan or Higher Deductible HSA Plan, you may be able to receive a BNY Mellon automatic annual contribution, based on your medical plan coverage level and base salary range, deposited into your Health Savings Account with the first pay after your plan effective date in 2021. You are not eligible to receive these contributions if you enroll in the new Copay Plan, Kaiser Permanente (California), HMSA (Hawaii), or the Aetna International (Expat) Plan.
2021 BNY MELLON CONTRIBUTIONS TO HEALTH SAVINGS ACCOUNTS
Annual Base Pay and Coverage Level BNY Mellon’s Annual Contribution (Automatic)1
Under $30,000
Employee Only $700
Employee + Spouse/Qualified Domestic Partner, Employee + Child(ren) or Employee + Family
$1,400
$30,000 - $39,999
Employee Only $600
Employee + Spouse/Qualified Domestic Partner, Employee + Child(ren) or Employee + Family
$1,200
$40,000 - $49,999
Employee Only $500
Employee + Spouse/Qualified Domestic Partner, Employee + Child(ren) or Employee + Family
$1,000
$50,000 - $79,999
Employee Only $400
Employee + Spouse/Qualified Domestic Partner, Employee + Child(ren) or Employee + Family
$800
$80,000 and above
Employee Only $200
Employee + Spouse/Qualified Domestic Partner, Employee + Child(ren) or Employee + Family
$400
1 If you join BNY Mellon after the beginning of the 2021 plan year, BNY Mellon’s Health Savings Account contribution will be pro-rated.
For information about additional contributions that may be made by BNY Mellon as part of your participation in the Wellbeing Points Program, go to the 2021 Wellbeing Points Program (formerly Wellbeing Rewards Program) through Virgin Pulse section.
Note: If you will be enrolled in a Medicare plan for 2021, please see the Medicare and Health Savings Accounts section for important information about Medicare and contributions to the Health Savings Account.
Active employees enrolled in the Lower Deductible HSA Plan or Higher Deductible HSA Plan who are enrolled in any part of Medicare or TRICARE cannot contribute to a Health Savings Account, but will receive BNY Mellon contributions and Wellbeing reward contributions as taxable compensation through payroll.
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4. What are the different ways I can build a Health Savings Account balance?
You can build a Health Savings Account balance in three ways:
• BNY Mellon contributes to your account. If you are an active employee enrolled in the Lower Deductible HSA Plan or Higher Deductible HSA Plan, BNY Mellon’s automatic annual contribution will be deposited into your Health Savings Account after your first pay following your plan effective date. If you enroll after January 1 as a new hire, a prorated BNY Mellon contribution will be made after you enroll in coverage. Those enrolled in the Lower Deductible HSA Plan or Higher Deductible HSA Plan who are on long-term disability, retired or on COBRA can make contributions to a Health Savings Account on an after-tax basis only and are not eligible to receive BNY Mellon contributions to a Health Savings Account or to earn reward contributions to a Health Savings Account when participating in the Wellbeing Points Program through Virgin Pulse. Note that contributions are not permitted to a Health Savings Account if you have other medical coverage that is not a high deductible health plan, including any part of Medicare or TRICARE.
• You can budget and save. If you enroll in either the Lower Deductible or Higher Deductible HSA Plan and then set up your Health Savings Account, you can also contribute to it via payroll deductions. You can also make contributions directly into your account through BenefitWallet, but keep in mind that you have to ensure that you do not exceed IRS maximum limits. See Question 5 in this section for details on IRS limits.
• You can invest your Health Savings Account balance. Once the Health Savings Account checking account balance reaches $1,000, you can set up a BenefitWallet Investment Account and begin to diversify your accumulated savings in excess of $1,000 among a choice of investment funds selected by BenefitWallet. Note: A minimum of $1,000 must remain in your BenefitWallet Health Savings Account checking account to continue to use a BenefitWallet Investment Account. BNY Mellon pays the applicable investment fee while you are an active employee if you choose to use the BenefitWallet Health Savings Account investment platform. There are no additional transaction fees, loads or commissions.
5. Does the IRS limit how much I can contribute to a Health Savings Account?
Yes, the IRS specifies that, for 2021, you can contribute up to $3,600 for employee coverage and $7,200 for other levels of coverage. This includes BNY Mellon’s automatic contribution, your contributions, as well as reward contributions earned by completing Wellbeing Points Program activities. Participants age 55 and over can contribute an additional $1,000 in catch-up contributions.
It is your responsibility to monitor all contributions to your Health Savings Account to ensure amounts do not exceed the annual IRS maximum limits, including your contribution amounts, BNY Mellon’s automatic annual contribution and any earned Wellbeing reward contributions. To assist you with this, BNY Mellon will monitor your Health Savings Account payroll deduction and adjust that amount automatically throughout the year based on your elected contribution amount, BNY Mellon’s automatic and Wellbeing reward contributions and the IRS plan maximum. However, it is still up to you to make sure the annual IRS limit is not exceeded. If you exceed this limit you may be subject to penalty taxes.
Also please note that contributions are not permitted to a Health Savings Account if you have other medical coverage that is not a high deductible health plan, including any part of Medicare or TRICARE.
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6. How should I calculate how much to contribute through payroll deductions to my Health Savings Account, taking into consideration any reward contributions I may earn through participation in the 2021 Wellbeing Points Program?
You can use personalized web modeling tools available on the MyBenefit Solutions enrollment site to help you determine the amount to contribute to your Health Savings Account. The maximum annual amount that you can contribute is determined by subtracting BNY Mellon’s automatic contribution and any reward contributions you expect to earn through the Wellbeing Points from the maximum annual contribution allowed by the IRS.
7. Who is responsible for ensuring that my total contributions to my Health Savings Account do not exceed the maximum contribution allowed by the IRS?
Your Health Savings Account payroll deduction will adjust automatically throughout the year based on your elected contribution amount, BNY Mellon’s automatic and Wellbeing reward contributions, and the IRS plan maximum. However, it is your responsibility to monitor your Health Savings Account contributions or other future contributions to ensure total contributions do not exceed the IRS maximum limit.
Tax penalties may apply if contributions exceed the IRS limits. See the 2021 Wellbeing Points Program (formerly Wellbeing Rewards Program) through Virgin Pulse section for more information on the reward amounts.
8. If I am currently enrolled in an HSA Plan with a Health Savings Account and decide to enroll in the Copay Plan or my spouse’s/qualified domestic partner’s medical plan next year, will I still be able to access my Health Savings Account in 2021?
If you are currently enrolled in an HSA Plan with a Health Savings Account and enroll in the Copay Plan or your spouse’s/qualified domestic partner’s medical plan for 2021, you will continue to have access to your Health Savings Account for eligible medical expenses. However, you cannot make any additional payroll contributions through BNY Mellon to your account and you will not receive any BNY Mellon contributions or Wellbeing reward contributions to your Health Savings Account.
9. How can I learn more about using a Health Savings Account?
Call Accolade at 1-833-640-0427 for answers to your questions. Your personal Health Assistant is available Monday through Friday, from 8 am to 11 pm ET.
10. What tax-filing considerations should I be mindful of if I have a Health Savings Account?
If you have not previously participated in a Health Savings Account, you will see additional information on your annual Form W-2. Amounts deposited into your Health Savings Account will appear in Box 12 of the W-2.
• You may also receive Form 5498-SA if you deposited funds in addition to what has been deducted via payroll.
• You may receive Form 1099-SA that includes distributions from the Health Savings Account.
• You may need to file Form 8889 before deducting any after-tax contributions to a Health Savings Account.
• It is important to save receipts and be aware of penalties for using funds in your Health Savings Account for ineligible health care expenses.
• If you have questions, consult your own tax advisor.
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11. Does BNY Mellon sponsor the Health Savings Account?
No. The Health Savings Account is offered directly by BenefitWallet as a voluntary benefit in conjunction with BNY Mellon’s HSA Plan options. The Health Savings Account is not a part of The Bank of New York Mellon Health and Welfare Plan and is not governed by the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). BNY Mellon neither endorses BenefitWallet as the Health Savings Account vendor, nor sponsors the Health Savings Account program. BNY Mellon is compensated for custodial work provided to BenefitWallet.
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Medicare and Your Health Savings Account If you are approaching age 65, it is important to understand how your eligibility for Medicare may impact your Health Savings Account. Due to IRS rules, once you enroll in any part of Medicare (Part A, Part B, Part D, etc.) you are no longer allowed to receive or make contributions to a Health Savings Account. The following information is intended to help you determine when you should cease contributing to your Health Savings Account and how you should manage and use the account going forward.
1. What should I consider about my Health Savings Account as I near Medicare eligibility?
To be eligible to contribute to a Health Savings Account, you must be enrolled in a Health Savings Account-qualified high deductible health plan and you cannot be covered by another non-high deductible health plan (including any part of Medicare or TRICARE) or be claimed as a dependent on another person’s tax return. Both the Lower Deductible and Higher Deductible HSA Plans are high deductible plans.
When you reach age 65 or become disabled, you may still contribute to a Health Savings Account if you have not enrolled in any part of Medicare.
If you reach age 65 or become disabled, and you enroll in any part of Medicare, contributions to a Health Savings Account (including your contributions, BNY Mellon’s automatic contributions and any reward contributions earned by completing wellbeing activities) must stop as of the first of the month in which you are enrolled in Medicare. However, you can continue to use any contributions accumulated in your Health Savings Account to pay for qualified medical, dental and vision expenses, including premium payments for Medicare Part A, Part B, Part D or your share of retiree medical coverage.
To the extent that contributions are made to your Health Savings Account after your Medicare coverage starts, you may be subject to a tax penalty. If you would like to continue contributing and/or receiving BNY Mellon’s contributions to your Health Savings Account, then you should not apply for Medicare. You should also not apply for Social Security or Railroad Retirement Board (RRB) benefits because doing so automatically triggers Medicare Part A coverage.
If you are not covered by Medicare but your spouse/qualified domestic partner is, you may continue contributing to your Health Savings Account and receive BNY Mellon’s automatic contributions and Wellbeing reward contributions.
Prior to making any decisions with respect to Medicare enrollment and its effect on your Health Savings Account, you are encouraged to consult with your own financial advisor to help you determine the best course of action in your particular situation. You should also visit medicare.gov for additional information.
2. Can enrolling for Social Security retirement benefits affect my eligibility to make or receive Health Savings Account contributions?
It’s important to note that electing to receive Social Security retirement benefits automatically enrolls you in Medicare Part A (also known as Hospital Insurance). Currently, there is no process within the Social Security Administration to waive this automatic coverage. If you meet Medicare’s eligibility requirements, you may have the option to voluntarily enroll in Medicare without electing to receive Social Security retirement benefits.
If you are beyond your full retirement age when you sign up for Social Security retirement benefits, your enrollment in Part A could be retroactively effective to the month that you turned 65 or, if longer, by as much as six months. Under IRS rules, that retroactive coverage makes you ineligible to make Health Savings Account contributions during the retroactive period. If you contribute to your Health Savings Account during this time, those contributions must be included in your taxable income and may be subject to tax penalties.
If you are older than age 65 and you are planning to enroll in Social Security, you should consider discontinuing your Health Savings Account contributions for at least six months before you apply for Social Security retirement benefits to avoid any adverse tax consequences.
3. Can I establish a Health Savings Account if I am enrolled in Medicare?
No. While you can enroll in the Lower Deductible HSA Plan or Higher Deductible HSA Plan, once you enroll in Medicare Part A, B and/or D, you can no longer set up or contribute to an existing Health Savings Account. This is because to contribute to a Health Savings Account you cannot have any health insurance other than a high deductible health plan (HDHP).
4. Can I spend from Health Savings Account funds if I’m enrolled in Medicare?
Yes. Even if enrolled in Medicare, you may keep a Health Savings Account if it was in existence prior to Medicare enrollment. You can spend from your Health Savings Account to help pay for qualified medical expenses, such as deductibles, premiums, copayments, and coinsurance. If you use the account for qualified medical expenses, you will not pay federal taxes (and in most states, state taxes) on the distributions. Qualified medical expenses are defined by the IRS and include Medicare premiums and copays, providing a valuable way for Medicare beneficiaries to make use of their unused Health Savings Account funds.
5. What do I need to know about my Health Savings Account and being enrolled in any part of Medicare (Parts A, B and D)?
If you’re entitled to Medicare and you signed up for Part A at age 65 or later (perhaps not realizing that it can affect the use of your Health Savings Account) but have not yet applied for Social Security retirement benefits, you can withdraw your application for Part A. (To do so, contact the Social Security Administration at 1-800-772-1213.) There are no penalties or repercussions and you are free to reapply for Part A at any future date.
If you have applied for or are receiving Social Security benefits, which automatically entitle you to Part A, you cannot continue to contribute to your Health Savings Account. The only way you can opt out of Part A is to pay back to the government all of the money you’ve received in Social Security payments, plus everything Medicare has spent on your medical claims. You must repay these amounts before your application to drop out of Part A can be processed. If you take this action, you’re no longer entitled to Social Security or Medicare, but you can reapply for both at any time in the future (for example, if you end or lose your Health Savings Account coverage).
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6. I will be eligible for Medicare this year but do not plan to enroll until I retire. I will remain enrolled in a BNY Mellon HSA Plan until that time. Can I keep contributing to my Health Savings Account?
Yes. If you are eligible for Medicare but do not actually enroll, you can continue to contribute to your Health Savings Account. Once you enroll in any part of Medicare, you will no longer be eligible to contribute to your Health Savings Account. Even enrolling in Part A alone will disqualify you from contributing to your Health Savings Account.
Note that If you are beyond your full retirement age when you sign up for Social Security retirement benefits, your enrollment in Part A could be retroactively effective to the month that you turned 65 or, if longer, by as much as six months. Under IRS rules, that retroactive coverage makes you ineligible to make Health Savings Account contributions during the retroactive period. If you contribute to your Health Savings Account during this time, those contributions must be included in your taxable income and may be subject to tax penalties.
7. What if I participate in a Health Savings Account through my spouse’s employer?
The IRS Medicare rule affects only employees age 65 or older who have Health Savings Accounts through
their employment because they are the ones who contribute to Health Savings Accounts from their before-tax earnings at work. The rule does not affect covered spouses over age 65, who can continue to use funds from the working spouse’s Health Savings Account for eligible medical expenses.
8. What if I received Medicare Part A under age 65 through disability?
In this situation, you’re entitled to Medicare as soon as you’ve received your 25th disability check from Social Security. In other words, you automatically go into the Medicare system and are no longer eligible to contribute to your Health Savings Account. If you’re able to return to work, your disability payments will eventually stop, but your Medicare entitlement continues for up to 93 months from the time you first applied for disability.
9. What are the consequences of contributing funds to my Health Savings Account while enrolled in Medicare?
Medicare beneficiaries who continue to contribute funds to a Health Savings Account may face IRS penalties including payment of back taxes on their tax-free contributions and account interest, excise taxes and additional income taxes. Please consult your own tax advisor with questions.
10. Where can I find more information?
The above Medicare information is only intended as a summary of the current rules. You are encouraged to visit medicare.gov, contact the Social Security Administration, or consult a tax professional to determine how these rules apply to your personal situation.
1. How much can I contribute to a Health Care Flexible Spending Account (FSA)?
For 2021, the maximum annual contribution for a Health Care FSA will increase by $50 to $2,750. The $550 carryover of unused amounts remaining in your account at the end of the calendar year will continue to be available.
2. Can I make contributions to a Health Care FSA if I am enrolled in the Lower or Higher Deductible HSA Plan and have a Health Savings Account?
Yes. If you are enrolled in the Lower or Higher Deductible HSA Plan, you can contribute to a Health Care FSA, considered a Limited Purpose Health Care FSA, which means your contributions may only be used for the reimbursement of eligible dental and vision expenses before you meet your medical plan’s annual deductible. After you’ve met the deductible, you can also use your account for reimbursement of eligible medical (including eligible over-the-counter items), preventive drug, and out-of-network preventive care expenses. You will need to provide proof that your deductible has been met.
The Limited Purpose FSA is subject to the same IRS rules that apply to Flexible Spending Accounts. This means that (with the exception of the $550 carryover of unused amounts) you will lose any contributions you do not use — so plan carefully.
3. I am enrolled in either the Lower or Higher Deductible HSA Plan but do not make contributions to my Health Savings Account. Can I still make contributions to a Health Care FSA?
Yes. You can make contributions to a Health Care FSA, but this will still be considered a Limited Purpose FSA and will be subject to the same rules described above in question 2.
4. If I am not enrolled in a BNY Mellon medical plan option, can I still enroll in and contribute to the Health Care FSA?
Yes, you can enroll in and contribute to the Health Care FSA if you are not enrolled in a BNY Mellon medical plan option.
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Legacy Health Reimbursement Account Balances (for those enrolled in the former Plan HRA prior to January 1, 2019)
1. I still have a balance in my Legacy Health Reimbursement Account (HRA) even though I am now enrolled in the Lower or Higher Deductible HSA Plan or Copay Plan. How can I use those funds?
If you are enrolled in the Lower or Higher Deductible HSA Plan*: Your account is considered a Limited Purpose Health Reimbursement Account, which means your contributions may only be used for the reimbursement of eligible dental and vision expenses before you meet your medical plan’s annual deductible. After you’ve met the deductible, you can also use your account for reimbursement of eligible medical (including eligible over-the-counter items), preventive drug, and out-of-network preventive care expenses. You will need to provide proof that your deductible has been met.
If you are enrolled in the Copay Plan or a Medicare or TRICARE plan*: Your account is considered a General Purpose Reimbursement Account, and funds that remain can be used to pay for qualified medical, dental and vision expenses.
*IRS rules do not allow employees who are enrolled in any part of Medicare or TRICARE to actively contribute to or receive contributions to a Health Savings Account. See the Medicare and Your Health Savings Account section for more information.
2. Whom do I contact if I have questions about my Legacy HRA?
If you have questions about your HRA, contact the MyBenefit Solutions Service Center at 1-855-354-6940, Monday through Friday between 8:30 a.m. and 8 p.m. ET.
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2021 Wellbeing Points Program (formerly Wellbeing Rewards Program) through Virgin Pulse
1. What is the Wellbeing Points Program?
The Wellbeing Points Program supports you in being your best — physically, emotionally, financially and socially — both at home and at work.
When you participate, you can earn reward contributions to your Health Savings Account for the completion of eligible wellbeing activities if you are actively employed and enrolled in the Anthem Lower Deductible HSA Plan or Higher Deductible HSA Plan. You may earn up to $600 in reward contributions ($1,200 if you cover your spouse/qualified domestic partner) during a calendar year ($150 per calendar quarter). BNY Mellon automatic and reward contributions will be paid through payroll on a taxable basis to active employees enrolled in the Lower Deductible or Higher Deductible HSA Plans who are enrolled in any part of Medicare or TRICARE.
2. Is the Wellbeing Points Program the same as the Wellbeing Rewards Program?
Yes, the program is the same, only the name is changing for 2021.
3. Who is eligible to participate in the Wellbeing Points Program?
All benefits-eligible employees are eligible to participate in most of the 2021 Wellbeing Points Program activities. However, only eligible active employees and their covered spouses/qualified domestic partners who are enrolled in the BNY Mellon Lower Deductible or Higher Deductible HSA Plan can also earn reward contributions to their Health Savings Account contributions for participating in a variety of health and wellbeing activities throughout the year.
Employees and covered spouses/qualified domestic partners enrolled in the Copay Plan, Kaiser, HMSA Hawaii and Aetna International health plan through BNY Mellon, as well as covered pre-65 retirees and employees on long-term disability, are not eligible to earn reward contributions for participating in the Wellbeing Points Program, but may still participate in most activities.
Employees enrolled in any part of Medicare or TRICARE should see question 6 in this section for additional information.
4. What activities are part of the Wellbeing Points Program (and what are the Program dates)?
You can find the list of the 2021 Wellbeing Points Program activities at join.virginpulse.com/bnymellon. The Wellbeing Points Program works on annual basis, from January 1 to December 31 of a given year.
5. Once I complete an activity, when will reward contributions be deposited to my Health Savings Account?
For activities completed by the 10th of each month, reward contribution will be made the last day of the month. For activities completed after the 10th, contributions will be made the last day of the following month.
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6. How will I earn contributions if I am enrolled in any part of Medicare or TRICARE?
IRS rules prevent anyone enrolled in any part of Medicare or TRICARE from making or receiving contributions to a Health Savings Account. BNY Mellon automatic and reward contributions for active employees enrolled in the Lower Deductible or Higher Deductible HSA Plans who are enrolled in any part of Medicare or TRICARE will be paid through payroll on a taxable basis. For more information, see the Medicare and Your Health Savings Accounts section.
7. Can I still earn reward contributions if I am unable to meet a standard or complete an activity?
If you think you might be unable to meet a standard or activity for a reward under this Wellbeing Points Program, you might qualify for an opportunity to earn the same reward by different means. Contact Virgin Pulse at 1-888-671-9395 Monday through Friday between 8 a.m. and 9 p.m. ET, and they will work with you (and, if you wish, with your physician) to find an alternative means for you to earn the same reward.
8. How do I enroll in the Wellbeing Points Program?
If you are not yet enrolled in Virgin Pulse, visit join.virginpulse.com/bnymellon to enroll and start earning reward contributions.
9. Can I participate in the Wellbeing Points Program if I don’t enroll in one of the HSA Plans?
If you enroll in the Copay Plan, Kaiser Permanente (California), HMSA (Hawaii), or Aetna International (Expat) Plan for 2021, or if you don’t enroll in BNY Mellon sponsored medical coverage, you’ll have a chance to win a cash reward through payroll for each Virgin Pulse wellbeing level you achieve per calendar quarter when you complete wellbeing activities. For each level you complete, you’ll be entered into a sweepstakes to earn a certain amount. Learn more in the 2021 What’s New Newsletter and the 2021 Open Enrollment Guide.
10. Will my personal health data be shared with BNY Mellon?
BNY Mellon receives only anonymous, aggregate health data to be used for the purpose of evaluating the success of the Wellbeing Points Program and for designing programs that help to meet your health and wellness needs. You are encouraged to read the full Privacy Notice at MySource before participating in this program.
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Voluntary Benefits
1. What opportunities do I have to enroll in voluntary benefits during Annual Open Enrollment?
During Annual Open Enrollment, you will also have the opportunity to enroll in or change your Accident, Critical Illness, and Legal Insurance coverage. This is the only time during the year that you can sign up for these voluntary benefit plans. Additional voluntary benefits, including Identity Theft Protection, Auto, Home and Pet Insurance are available to you during Open Enrollment as well as throughout the year. For more information, visit www.voluntarybenefits-bnymellon.com or call Mercer at 1-866-250-4510.
Please note that BNY Mellon makes these voluntary programs available as a service to its employees and is not affiliated with any of these program providers. BNY Mellon’s sole functions with respect to these programs are, without endorsing the programs, to permit the program providers to publicize the programs to employees and to collect premiums or payment through payroll deductions and to remit them to the program providers. BNY Mellon does not receive any consideration in the form of cash or otherwise in connection with these voluntary programs.
BNY Mellon also does not make any contributions to these programs. These completely voluntary programs are not part of The Bank of New York Mellon Health and Welfare Plan.
Please note: These FAQs provide only a summary of the coverage and benefits available to you, as an eligible employee, and your eligible dependents. For more detail, please refer to your 2021 Open Enrollment Guide on MyReward. In the event of any discrepancy between these FAQs and the applicable Plan documents and evidence of coverage booklets , the terms of the applicable documents control. Nothing in these FAQs should be construed as tax, legal or other advice by BNY Mellon and is not a guarantee of employment or benefits of any nature. BNY Mellon reserves the right to change or eliminate any of its benefit plans, programs or arrangements at any time for any reason, subject to applicable law.
