Category: Internal
Benefits Enrollment Resources
Benefits Information for HR & People LeadersOpen Enrollment Period:
May 6–17, 2024
Benefits Plan Year:
July 1, 2024 - June 30, 2025
Prepare for the New Benefits Plan Year
What Team Members Can Do
Open enrollment for the 2024-2025 benefits plan year is May 6–17, 2024. During this annual open enrollment period, Team Members are encouraged to review their benefit options, coverage information, and rate changes taking effect with the new plan year starting July 1, 2024.
Team Members don’t have to do anything to keep their current coverage. However, they MUST complete enrollment to:
- Change their current benefit elections
- Add or remove covered dependents
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If you do not take action during the annual open enrollment period, your current benefit elections will continue at the new 2024-2024 rates for the 2024-2025 plan year, which begins on July 1, 2024 and ends on June 30, 2025.
You can only change your benefit elections outside the annual open enrollment period if you experience a qualifying life event. For more information about qualifying life events, please visit this link: Change in Status.
What Happens If Team Members Don't Take Action
If Team Members do not take action during the annual open enrollment period, their current benefit elections will continue at the new 2024-2025 rates for the 2024–2025 plan year.
Team Members can only change their benefit elections outside the annual open enrollment period if they experience a qualifying life event. For more information about Qualifying Life Event, please visit this link: Change in Status.
FSA & HSA Elections
Team Members will have the opportunity to make Flexible Spending Account (FSA) and/or Health Savings Account (HSA) elections in October 2024 for the 2025 calendar year. Outlined below are scenarios that might apply to Team Members.
Scenario | Flexible Spending Account (FSA) | HRA (part of Kaiser medical plan) | Health Savings Account (HSA) |
---|---|---|---|
Enrolled in the PPO Plan and switch to the HDHP Choice HSA 7/1/2024 | Required to move from full FSA to Limited Purpose FSA if previously enrolled in full FSA (can't have HSA and full FSA). | Cannot enroll. | Can start contributing to HSA. |
Enrolled in HDHP Choice HSA and switch to the PPO medical Plan 7/1/2024 | If enrolled in Limited Purpose FSA, have the option to switch to the full FSA but not required. | Cannot enroll. | Required to stop contributing to HSA. |
Enrolled in PPO Plan and stay in this plan 7/1/2024 | If enrolled in Full FSA, will not be able to make changes to this plan until October 2024 for a 1/1/2025 effective date. If enrolled in Limited Purpose FSA already, will need to keep current election. They can then make changes to this plan in October 2024 for a 1/1/2025 effective date. | Cannot enroll. | Cannot enroll. |
Enrolled in HDHP Choice HSA and stay in this plan 7/1/2024 | Can keep current Limited Purpose FSA, will not be able to make changes to this plan until October 2024 for 1/1/2025 effective date. | Cannot enroll. | Can change election amount anytime throughout the year. ER HSA contribution should continue as long as they are enrolled in Choice HSA Medical. |
Enrolled in Kaiser and keep Kaiser medical plan 7/1/2024 | Enrolled in FSA plan, keep current enrollment. Will need to wait until October 2024 to elect for 1/1/2025. If not currently enrolled in FSA, they will need to wait until October 2024 to elect for 1/1/2025. | HRA election will continue. | Cannot enroll. |
Enrolled in Kaiser HRA medical and moves to PPO Plan 7/1/2024 | Enrolled in FSA plan, keep current enrollment. Will need to wait until October 2024 to elect for 1/1/2025. If not currently enrolled in FSA, they will need to wait until October 2024 to elect it for 1/1/2025. | HRA election will stop. | Cannot enroll. |
Enrolled in Kaiser HRA medical and moves to HDHP Choice HSA 7/1/2024 | Required to move from full FSA to Limited Purpose FSA if previously enrolled in full FSA (can't have HSA and full FSA). | HRA election will stop. | May start contributing to HSA. |
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What's New for 2024-2025
Slight Cost Increases
- Health care costs continue to rise. We’re committed to providing you with high-quality services with a range of medical plans to fit your needs. This year, you’ll see changes to deductibles, out-of-pocket maximums, coinsurance, and copays for the BCBSTX Enhanced PPO and Choice HSA plan. You’ll also see varying increases to premiums on all medical plans. We continue to share the cost of health care for you and your family, with Michaels absorbing approximately 75-80% of the cost of coverage.
- Wellness and tobacco surcharges will increase from $25 per paycheck to $30 per paycheck. Make sure Team Members and their covered spouse/domestic partner complete a preventive wellness exam between July 1, 2023, and June 30, 2024. They’ll avoid a $30 per paycheck surcharge per person on their medical premiums. If they are enrolled in a Michaels BCBSTX plan, they also have the option to use VirtualCheckup through Catapult Health.
- Team Members can use the eValuate tool to choose the medical plan that makes the most sense for them and their families. The more Team Members know about the available choices, plans, and features, the easier it is to select and use their benefits wisely.
Prescription Drugs
New! For no additional cost, eligible Team Members can take advantage of the Specialty Drug Split-Fill program to try a partial quantity of a newly prescribed specialty drug before the full month’s supply is filled.
Hospital Indemnity
New! Eligible Team Members have the option to enroll in Voluntary Hospital Indemnity coverage that pays a direct cash benefit in the event of a hospital stay.
Pet Insurance
New! Eligible Team Members can enroll in Wishbone pet insurance. Premiums can be paid with a credit card.
Wellness & Tobacco Surcharges
Team Members can avoid surcharges and higher premiums for medical coverage by fulfilling the wellness exam requirement and qualifying as tobacco-free.
- The wellness surcharge is $30 per person, per paycheck. To avoid this surcharge for 2024–2025 plan year, Team Members (and, if covered, their spouse/domestic partner) will want to make sure they complete an annual physical exam between July 1, 2023 and June 30, 2024. Team Members enrolled in a BCBSTX medical plan also have the option to complete their wellness exam requirement by using the VirtualHealth Checkup through Catapult Health, and there is no charge for this service.
- The tobacco surcharge is $30 per person, per paycheck. To avoid this surcharge for the 2024–2025 plan year, Team Members (and, if covered, their spouse/domestic partner) must be tobacco-free for at least six months leading up to the date they enroll in benefits. Tobacco cessation programs are available to team members free of charge through any Michaels medical plan.
For more detailed information and instructions on how to ensure these surcharges don’t apply to them, Team Members can visit this link: Wellness Programs & Surcharges.
Open Enrollment Meetings & Webinars
All scheduled webinars and live meetings have passed.
Were you unable to attend a scheduled webinar or live meeting? Watch the recorded version below. Want to review the presentation document? Download the digital version below.
Unable to attend a scheduled webinar or live meeting? Watch the recorded version below. Want to review the presentation document? Download the digital version below.
Team Member Communications
For your reference, digital copies will be posted below of all communications sent to benefits-eligible Team Members regarding open enrollment for the 2024–2025 plan year.
Begin Enrollment
Log in to Workday
Open the Demo Video
Workday Job Aids
- How to Enroll in Workday: English | Spanish
- How to Add Dependents in Workday: English | Spanish
- Other: Accessing Workday on LOA
Know Where to Go for Answers
Call Team Member Services at 855-432-MIKE (6453), option 2, or submit a ticket through Knowledge Zone.
Choose Wisely — No Changes After Enrolling!
Changes to your benefit elections are only allowed outside of the open enrollment period if you have a qualifying life event, such as a birth, adoption, marriage, or divorce. Changes in status must be made within 30 days of the qualifying life event. For more information, follow this link: Change in Status.
Website Change Request
Request Changes to MIKBenefits
Open Enrollment
Important benefits information for HR and people leadersBenefits Enrollment Is Closed
Benefits effective July 1, 2023 to June 30, 2024
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Make sure to Compare the Plans so you can choose the right coverage for you and your family. If you don’t enroll, you will not have coverage.
What's New for 2023–2024
- Medical plan administration moving from Aetna to Blue Cross and Blue Shield of Texas (BCBSTX). For the Basic PPO, Enhanced PPO and Choice HSA plans, BCBSTX will take over administration as of July 1, 2023. Most of the current providers our Team Members are using will be in the BCBSTX network, but there could be some instances where that isn’t the case.
- Prime Therapeutics replaces OptumRx as our pharmacy benefit manager. Anyone currently using home delivery for medications taken regularly will need to get a new prescription. Team Members will be able to receive one 30-day fill at a retail pharmacy before the mail order requirement applies.
- Some fertility treatments will be covered by Michaels BCBSTX medical plans. Based on the diagnosis, our plans will now cover one cycle of fertility treatment and medications.
- MDLive will replace Teladoc for 24/7 virtual health care services for Team Members enrolled in a BCBSTX medical plan. Look for more information soon about BCBSTX clinical programs and resources for support.
- The premium surcharge for spouses/domestic partners with coverage available elsewhere will be eliminated. We will no longer charge Team Members extra for covering a spouse or domestic partner if that individual has coverage available from another employer’s plan. NOTE: Team Members covering a working spouse/domestic partner will still have to enroll in the Enhanced PPO.
- Kaiser Telehealth replaces Teladoc. Team Members enrolled in a Kaiser medical plan (for California Team Members only) can access virtual care through kp.org/getcare.
- Plan year change for FSA and HSA contributions. We are adjusting the plan year for Flexible Spending Account (FSA) contributions and Health Savings Account (HSA) contributions for Team Members enrolled in the Choice HSA Plan. IRS contribution limits for both plans are calendar/tax year limits, so we are changing our plans to have calendar year elections. During the May enrollment period, Team Members will make FSA and HSA elections covering the last six months of the year (July 1 to December 31, 2023). We will conduct another enrollment later in the year for just these two plans that will cover the 12-month period January 1 to December 31, 2024. Going forward, we will conduct a separate FSA/HSA enrollment for the upcoming calendar year.
- The reporting period for qualified life event benefit changes is now 30 days. The amount of time Team Members have to report a qualified life event change (birth, marriage, divorce, etc.) is changing from 60 days to 30 days.
What Team Members Need to Do
We encourage Team Members to review your options and the changes taking effect July 1. They don’t have to enroll to keep their current coverage, but there are some exceptions. They must log in to Workday and actively enroll to:
- Change current benefit elections
- Add or drop covered dependents
- Enroll in or continue participating in a Health Care or Dependent Care Flexible Spending Account (FSA) (the IRS requires a new election each year)
- Begin saving or change Health Savings Account (HSA) contributions (the HSA is only available with the Choice HSA medical plan)
If Team Members take no action, their current benefit elections will continue at the new 2023–2024 rates, except for FSA and HSA participation. With the exception of FSAs and the HSA, our benefit plans will still have a July 1 to June 30 plan year.
REMEMBER!
Annual enrollment is Team Members’ opportunity to add new coverage or change their existing plans. Some of their current elections will carry over to the new plan year if they take no action, but we recommend they review their options, get to know what’s new and use their resources for learning more about the programs available to them.
They will only be able to change elections after May 17 if they have a qualified change in status such as a marriage or a new baby.
Medical Premium Surcharges for Wellness and Tobacco
There are two ways Team Members can avoid paying more for medical coverage premiums for the upcoming plan year.
Complete the Wellness Requirement
If a Team Member, or a Team Member and spouse/domestic partner are enrolled in a Michaels medical plan, each needs to complete an annual physical between July 1, 2023, and June 30, 2024 to avoid paying a $25 per paycheck ($650 for the year) surcharge on medical premiums beginning in August 2023.
Be Tobacco-Free
If a Team Member and/or spouse/domestic partner uses tobacco, including e-cigarettes and non-nicotine vaporizers, $25 per paycheck ($650 for the year) will be added to medical premiums beginning in July. Team Members can’t use tobacco products for at least six months to be considered tobacco-free, and they can only change their tobacco status during Open Enrollment.
Open Enrollment Webinars
Date | Time | Meeting Link |
Friday, May 5 | 10 a.m. Central | Click here to join the May 5 meeting |
Tuesday, May 9 | 2 p.m. Central | Click here to join the May 9 meeting |
Thursday, May 11 | 10 a.m. Central | Click here to join the May 11 meeting |
In-Person Open Enrollment Meetings: Royal Ridge Auditorium
Date | Time |
Wednesday, May 3 | 4 p.m. Central |
Tuesday, May 16 | 11 a.m. Central |
Which Medical Plan is Best for You?
The eValuate Health Plan Selector tool allows Team Members to estimate their medical and prescription costs during the year and determine which plan provides the level of care they prefer and at the most affordable price.
Team Member Communications
Wellness Email
Wellness requirements, sent March 17
Wellness Email
Wellness deadline, sent July 17
Wellness Email #2
Wellness requirements, sent April 19
Wellness Email
Wellness completion, sent July 17
Wellness Email #3
Wellness requirements, sent May 18
Wellness Email #4
Wellness requirements, sent June 19
Announcement Mailer - Spanish
Translation of English home mailer
Enrollment Guide
Details about plans and changes
Enrollment Guide - Spanish
Translation of 2023-2024 English enrollment guide
Store Letter
Sent with table tents to be displayed in stores/DCs, shipped April 20
LOA Letter
Sent to homes of Team Members currently out on leave of absence (LOA)
HR Resources
For legal notices and summary plan descriptions, see Resources > Documents.
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Forms
- Coming Soon!
Documents
- Coming Soon!
FAQs
- Coming Soon!
Communications Library
Digital Communications Archive for HR & People LeadersNewsletters
Latest Edition
Read the summer 2024 edition of the Michaels Benefits newsletter below.
Older Editions
2024 | |
2023 | |
2022 |
Email Communications
- June 28: BSWH-BCBSTX Contract Update Notice
- June 21: Wellness Email Correction
- June 19: Wellness Reminder
- June 19: Wellness Requirement Complete
- June 13: BCBSTX ID Card Error
- June 10: Supportiv Webinar
- June 5: Catapult Onsite Screenings
- May 30: Catapult Onsite Screenings
- May 22: BSWH-BCBSTX Contract Update Notice
- May 17: Open Enrollment – Last Day to Enroll
- May 16: Open Enrollment – One Day Left
- May 15: Catapult Onsite Screenings
- May 13: Open Enrollment – One Week Left
- May 9: Catapult Onsite Screenings
- May 6: Open Enrollment – Now Open
- April 29: HR & Manager Open Enrollment Preview
- April 26: Wellness Requirement Complete
- April 24: Vanguard 401(k) Retirement Fund Removal
- April 19: Wellness Reminder
- April 18: Supportiv Webinar
- March 27: Supportiv Reminder
- March 21: Wellness Reminder
- March 7: Applaud Discontinuation
- March 1: Supportiv Announcement
- Feb. 27: Bonus Deferrals
- Feb. 23: Service Award Payment Notification
- Feb. 12: Voya 401(k) is Live
- Jan. 23: Voya 401(k) Blackout Reminder
- Jan. 5: Voya 401(k) Transition Announcement
HR News
Get a First Look at Future Team Member Communicationsblank
Spring 2023 Newsletter
HR Resource Center
Communications Library
A catalog of previous communications, including emails, newsletters, and resource guides.
Open Enrollment
In-depth information that Team Members may need during the next open enrollment period.