2024 Highlights

  • Same competitive level of coverage for Medical, Dental, and Vision with no changes to our carriers or plans

    • Collective Health EPO, PPO, HDHP, Kaiser HMO (CA only), Guardian Dental, EyeMed Vision, Unum Life & Disability

  • New Mental Health coverage through Lyra for you and your family members, regardless of enrollment on Specialized medical plans.  Lyra provides a network of high-quality providers and personalized care to support all aspects of mental well-being.  You and your family members will have access to 24/7 support from the Lyra Care team effective January 1st.

  • New Virtual exercise and physical therapy coverage through Hinge Health for teammates enrolled in the Collective Health medical plans.  Hinge health helps members overcome pain, recover from injury, and keep joints healthy all from the comfort of your home and at no cost to you!

  • New IRS annual contribution limits to your HSA. Contribute up to a total of $4,150 (employee only ) or $8,300 (family coverage)

    • The HDHP plan is required by the IRS to raise its deductible from $1,500 to $1,600 for single coverage and $3,000 to $3,200 for family coverage

  • New Voluntary Critical Illness and Accident insurance is available in addition to the Voluntary Life currently offered through Unum.  These voluntary insurance products provide cash benefits that can help offset your out-of-pocket expenses when illness or accidents happen.

  • New Contributions structure in four tier enrollment format (Employee Only, Employee + Spouse, Employee + Child(ren), and Employee + Family)

    • Contributions are listed in Workday and vary based on your plan election and your enrollment tier.  Depending on your elections, you may see a slight decrease or increase in your contributions effective January 1, 2024.  Overall, Specialized contributes a generous 85% of the cost towards teammates’ healthcare premiums.

  • New Decision support tools through Decision Doc (you will receive emails from letshyke.com).  Selecting which benefits are best for you is personal and there is more to consider than just what comes out of your paycheck. Specialized is excited to provide free and personalized guidance through the Decision Doc confidential platform to help you evaluate benefit options and make the selections that best protect you and your family.

  • New Adoption Assistance Benefit is being offered beginning January 1, 2024 for assistance in expenses up to $5000. Please see the Parents to be Guide for more information on this upcoming new benefit.

  • New Gender Affirming Care and Services Coverage is increasing from $25,000 to $50,000 per lifetime per member.

  • New Perks Spot is a new Discount Program that will be offered for SBC teammates please visit the Benefits Hub for more information.

Click to Join one of the Informational sessions led by Collective Health, our medical concierge, and Newfront. Note: 11/15 session will be a repeat to the 11/8 session.

For SBC teammates only

choose and submit your elections in Workday by 5:00pm PST on Tuesday, 11/21

Click to enroll

Please review the Workday Open Enrollment Job Aide for step-by-step instructions on reviewing your benefits and making benefit changes including adding or dropping dependents.

Important Notes

*If you have a current Healthcare FSA plan for 2023, and you enroll in a High Deductible Health Plan for 2024, your Healthcare FSA plan for 2023 will automatically convert to a Limited Purpose FSA should you have a balance (up to the $640 limit) that is eligible for carryover. No action is necessary on your end. Note: Any funds in excess of $640 will be lost. The new FSA (Healthcare Flexible and Limited Flexible) plan limit for 2024 is $640.

*Physical ID cards will not be reissued unless teammates change plans or newly enroll