The Annual Enrollment process has changed November 1–26, 2024
This video provides a quick tutorial on how to complete your 2025 Annual Enrollment. We’ve changed the Dependent Verification requirement, so watch this 4-minute video to learn the new process.
You must verify your spouse or domestic partner to continue their coverage. Coverage will automatically continue for your eligible children.
Your health and the health of your family is a top priority at Costco. That’s why we are committed to providing you and your family with affordable benefits that help you receive quality care whenever needed. Now that Annual Enrollment is here, we want to make sure you understand the benefits available to you and your family and why this time is so important. Here’s everything you need to know about Annual Enrollment.
Annual Enrollment is the time of year that benefit-eligible employees have the opportunity to make changes to their benefit elections for the upcoming calendar year. You can add or drop coverage for yourself or family members, change your existing plans, and explore the benefits available to you and your family in the coming year.
By now, you should have received a kit in the mail that includes everything you need to enroll in Costco Benefits. This includes things like the benefit plan changes booklet and information about how to log on to Costcobenefits.com and start the Annual Enrollment process. If you have not received a kit yet, that’s totally fine. All of the information in the kit can be found on Costcobenefits.com, where you can also sign up for text reminders about Annual Enrollment so you don’t miss a step of the process.
We’ve done our best to make the Annual Enrollment process easy. Beginning in November, you can click on the Annual Enrollment banner or the enrollment website tile on Costcobenefits.com to start the process. Once you’ve selected your benefits and your submitted documentation has been approved for any new dependents, your benefits will go into effect on January 1st.
If your spouse or domestic partner is enrolled in your benefits, you will need to complete the dependent verification process each year to continue their coverage, even if you don’t make any changes. If you don’t, their coverage will end on December 31st of this year. If you have dependent children enrolled in your benefits, you’ll need to review and remove any dependent children who are no longer eligible. Coverage will continue automatically for eligible enrolled children. If you add any family members to your plan, you must submit required documentation by November 30th. When you begin the Annual Enrollment process, the platform will automatically remind you to verify your spouse or domestic partner.
Annual Enrollment is also a great time to ensure that your beneficiaries are up-to-date for your life and AD&D insurance and retirement plans. Designating your beneficiaries for these plans is critical, so you can ensure that the right people receive this benefit when the time comes. You can update your beneficiaries for life and AD&D insurance online while you go through the Annual Enrollment process. To update beneficiaries for your retirement plans, just visit RPS.TRowePrice.com.
As a reminder, if you want to participate in the HCRA or DCAP, you must enroll during Annual Enrollment. Even if you are already enrolled for the current plan year. All your other benefits elections will continue into the following year if you don’t make any changes.
And that’s the basics. Annual Enrollment begins and ends in November, so be sure to enroll early. If you have any questions or need more information, just visit Costcobenefits.com or call the Enrollment Center at 800-541-6205. Thanks for watching, and remember, we’re in this together.
Use this Annual Enrollment checklist to stay on track
Take action by November 26, 2024, to confirm elections or make any changes. You can sign up for text reminders on the Enrollment Website located on Costcobenefits.com.
Readthe enrollment instructions and the 2025 Benefits Plan Changes booklet that came in your 2025 Annual Enrollment kit. The kit should have arrived by mail in late October. You can also review this information online at Costcobenefits.com.
Completethe Dependent Verification process to continue coverage for your spouse or domestic partner. If you don’t complete this step, coverage for your spouse or domestic partner will end on December 31, 2024.
Reviewyour enrolled children and remove any children that are no longer eligible. Coverage will automatically continue for children still eligible. Find eligibility details on Costcobenefits.com. If you add any family members to the plan, you must submit required documentation by November 30, 2024.
Enroll or re-enrollin one or bothreimbursement accounts*, the Health Care Reimbursement Account (HCRA) or Dependent Care Assistance Plan (DCAP), if you want to participate in 2025.
Designate a beneficiary for both life and AD&D insurance on the Enrollment Website and for your retirement plan at RPS.TRowePrice.com.
Your health and the health of your family is a top priority at Costco. That’s why we are committed to providing you and your family with affordable benefits that help you receive quality care whenever needed. In 2025, you will see enhancements to your Costco benefits. Here’s everything you need to know.
Let’s start with the update to your Aetna ID card. Starting in 2025, you and your family members enrolled in an Aetna medical plan will have a primary care physician, or PCP, listed on your Aetna ID card. Access to a PCP is important for your health. If you don’t already have a PCP, one will be assigned to you to help make it easier for you and your family members to access care. You can change the PCP listed on your ID card at any time.
This is not a change to your medical plan. It’s not an HMO, so you are not required to see this PCP for care. You don’t need a referral to see a specialist either. If you have seen a PCP in the last two years, that provider will be listed on your card. If you see a nurse practitioner or physician’s assistant as your PCP, their supervising physician or the practice will be listed on your card. If you have any questions or would like to change the PCP on your card at any time, call your Aetna health concierge.
Now, let’s talk about some new incentive programs. In 2025, if you’re enrolled in an Aetna medical and dental plan, you and your enrolled family members can receive a $50 credit towards your annual medical deductible or co-insurance when you get at least one annual dental cleaning. Employees and their spouses or domestic partners can earn up to a $400 credit towards their annual medical deductible or co-insurance when you enroll in the Aetna program and engage during and after your pregnancy. To learn more and sign up for the Aetna maternity program, call the maternity team or visit Aetna.com/Maternity.
Let’s move on to chiropractic care. In 2025, the Aetna medical plan will cover up to 30 visits per year for chiropractic care. You’ll no longer need to meet your plans deductible and co-insurance, only your plan’s PCP copay will apply.
Now, here’s an update on virtual medical care from 98point6. 98point6 is an app that offers on-demand text-based access to virtual medical care for employees and their dependents age one and older enrolled in the medical plan. In 2025, the cost per visit is $0.
If you suffer from foot, knee or back pain, custom foot insoles may help. Beginning in 2025, all employees and their family members will have access to custom foot insoles at $80 per pair from Fit My Foot. No prescription is needed. To place an order, first download the Fit My Foot App and use it to scan your feet. Then visit FitMyFoot.com/CostcoEmployee to place your order. Your custom foot insoles will be shipped to your home address. For employees and dependents enrolled in an Aetna medical plan, up to three pairs of insoles per year are covered. Deductible and co-insurance apply.
Now, let’s talk about new services available through Resources for Living. Finding the right therapist can be a journey. Resources for Living can help. With RFL, you have access to six free therapy sessions per issue, per year with a few different ways to find a therapist. You can call RFL to connect with a care partner who can help you find a therapist, chat with a care partner online at the RFL website, access chat therapy with Talkspace, or search the RFL provider network on the RFL website.
In 2025, RFL will offer expanded access to mental health providers and new search options through the Alma Virtual Care Network. Log in to the RFL website and search the virtual therapy network by provider type, specialty, availability, language, religion, and more. Select your provider and schedule a free fifteen-minute consultation. Not the right fit? You can schedule as many free consultations as you need to find the therapist who’s right for you. Once you’ve selected your therapist, you still have access to all six of your free therapy sessions.
In 2025, you can also connect one-on-one with a well-being coach for free and confidential coaching sessions to work toward your personal goals. Your coach can help you with almost any goal. For example, they can help you develop better eating habits, learn time management skills, be mindful of your finances, step outside of your comfort zone, manage a relationship transition and more. Connect with Resources for Living in 2025 to get started.
You also have access to discounted services with Weight Watchers and LifeMart. Weight Watchers has new lower monthly rates. To learn more or register now, visit WW.com/Costco. Also, be sure to check out LifeMart, your employee discount center for discounts on gym memberships, virtual fitness and child care programs.
Now, let’s talk about some new benefits programs available to Costco employees. In 2025, employees and their family members age 18 or older who are enrolled in a Costco medical plan can access Sleepio, an online sleep improvement program at no cost. Sleepio is clinically proven to help you clear your mind, get better sleep, and have better days in just six weeks. You can get started by completing a coverage check on the Sleepio website. Then download the Sleepio app, create your account, complete the baseline sleep quiz and start seeing the benefits of Sleepio.
Your new digestive health program, Cylinder, is available now. Cylinder is available at no cost for employees and dependents age 18 or older enrolled in a Costco medical plan. Download the Cylinder app or visit the Cylinder website and use company code Costco to get started. Order your free microbiome test kit and connect with your care team to identify triggers and help relieve symptoms.
Finally, let’s talk about life insurance. If you have family members enrolled in a Costco Medical Plan, they automatically receive basic life insurance through Unum at no cost to you. In 2025, this coverage is increasing from $1,500 to $3,000 for each enrolled dependent.
Your new benefits are available January 1st. If you have any questions or need more information, just visit Costcobenefits.com. Thanks for watching and remember, we’re in this together.
Discover new and updated benefits available January 1, 2025
Aetna ID card update*
To ensure that you and your family members enrolled in the Aetna medical plan have access to a primary care physician (PCP), a PCP will be assigned to you and your enrolled family members on your Aetna® ID card. Their phone number will be provided so you can call to schedule your preventive care or a new patient appointment. If you already have a PCP you’ve seen in the last two years, that provider will be the name on your card
If you see a nurse practitioner or physician’s assistant, their supervising physician will be the name on your card
You are not required to see the assigned PCP and can change the PCP on your card at any time
There are no changes to your medical plan — this is not an HMO, so you don’t need to get a referral from a PCP to see a specialist
Contact your Aetna Health Concierge at 800-814-3543 (TTY: 711) if you have questions or you’d like to change the PCP on your card
Dental incentive*
Earn a $50 credit toward your annual medical deductible or coinsurance when you get at least one annual dental cleaning
Earn up to a $400 credit toward your annual medical deductible or coinsurance for you or your spouse or domestic partner when you enroll and engage in the Aetna MaternityProgram during and after your pregnancy
The earlier in your pregnancy you enroll, the more you can earn
Visit Aetna.com/Maternity or call 855-282-6344 (TTY: 711) to learn more and enroll
Chiropractic visits*
You’ll have coverage for up to 30 chiropractic visits per year
You no longer need to meet your deductible or coinsurance for visits
Your plan’s PCP copay applies
Available for you and your dependents enrolled in an Aetna Medical plan
Custom foot insoles are shipped to your home address
For employees and dependents enrolled in an Aetna medical plan, up to three pairs of insoles per year are covered. Deductible and coinsurance apply.
Alma
Effective January 1, 2025, you’ll have expanded access to mental health providers and a new way to search for a therapist online through Resources for Living (RFL). Alma, available through the RFL website, allows you to search for providers who are in the network and accepting new patients. Also, with Alma, you:
Can schedule a consultation with the provider of your choice
Receive automatic authorization for 6 free therapysessions per issue per year for you, all your household members and dependent children up to age 26
Filter your provider search based on personal preferences
Can view a provider’s profile before requesting a consultation
On average, have your first therapy session within 5 days
Have access to providers that offer both virtual and in-person support
Well-being coaching
You can also talk with an RFL Well-being coach for free and confidential coaching sessions to help with your personal goals, such as:
Developing better eating habits
Learning better time management
Stepping out of your comfort zone
Visit RFL.com/Costco or call 833-721-2320 (TTY:711) to learn more
Wouldn’t it be nice to save money on your annual taxes while paying for things you need, such as medications and childcare? That’s the benefit of reimbursement accounts.
When you enroll in Costco reimbursement accounts during Annual Enrollment, you can put aside pretax dollars to reimburse yourself for eligible expenses throughout the year.
Health Care Reimbursement Account (HCRA) – For eligible health care expenses.
Dependent Care Assistance Plan (DCAP) – For eligible dependent care expenses.
Watch the video below for a quick overview of your reimbursement account options, administered by Inspira Financial™.
Your health and the health of your family is a top priority at Costco. That’s why we are committed to providing you and your family with affordable benefits that help you receive quality care whenever needed. One of those benefits are the reimbursement accounts available through Inspira Financial. Here’s everything you need to know about reimbursement accounts.
There are two types of reimbursement accounts available to you as a Costco employee: the HCRA and the DCAP. The HCRA or Health Care Reimbursement Account allows you to set aside pre-tax dollars to reimburse yourself for eligible medical expenses such as copays, deductibles and coinsurance, dental and vision expenses, prescriptions, and over-the-counter items. Annual enrollment is the only time you can enroll in an HCRA account and the HCRA must be re-elected every year if you want to continue your account.
The DCAP or Dependent Care Assistance Plan allows you to set aside pre-tax dollars to reimburse yourself for qualified child and elder care expenses necessary for you and your spouse to work. Funds can be used to pay for child care for your dependents, age 12 and younger, or for a spouse, parent, or dependent incapable of self-care. Examples of DCAP expenses are things like daycare, before and after school care, nursery and preschool, and in-home aids. Please note that the DCAP cannot be used for dependent healthcare expenses. You need to enroll in the DCAP every year to continue your account. However, you can enroll, change, or stop your enrollment whenever there is a qualifying change to your dependent care needs throughout the year.
Both types of accounts are funded by automatic pre-tax payroll deductions from every paycheck. If you choose to enroll in one or both of the reimbursement accounts during annual enrollment, you’ll be prompted to choose how much money you would like to contribute for the plan year up to the annual limit. Each account has an annual funding limit set by the IRS. Funds will then be deducted pre-tax from your paychecks and deposited into these reimbursement accounts. While you can access the full amount of your annual HCRA election beginning January 1st, with the DCAP, you can only access the amount currently in your account at the time of your reimbursement request.
If you enroll in the HCRA, you’ll have a few different ways to access your account. The default reimbursement method is autopay. The HCRA autopay feature will automatically pay your portion of medical and dental claims, including copays, deductibles, and coinsurance. If you have specific plans for your HCRA funds like paying for braces, be sure to turn off autopay at the start of each year on the Inspira website or app. You’ll also receive a debit card you can use to pay for eligible expenses at these locations: Costco Pharmacy, Costco Online Pharmacy, Costco Optical, and the Costco Hearing Aid Center. You can check your available account balance on your Aetna member website under Flexible Spending Account or FSA.
For the DCAP, you can submit a claim for reimbursement as soon as you have an eligible expense through the Inspira website or app. You’ll be reimbursed up to the current balance in your account.
Before you enroll, take a look at your healthcare and dependent care expenses for the previous year and think about needs in the coming year to get a sense of how much you would like to contribute. Keep in mind that if you are currently enrolled in an HCRA, you’ll want to think about whether you’ll have funds left in your account at the end of this year that you can roll over into next year. It is important to remember that funds in both accounts are use it or lose it per IRS rules.
Only a small portion of your HCRA balance can roll over to the next plan year. This amount is determined annually by the IRS. Only participants who have an active HCRA as of December 31st are eligible for this rollover. Any funds beyond the rollover amount are forfeited after the claim filing deadline. This is why it’s so important to consider your anticipated expenses for the coming year before selecting a contribution amount for each account.
If you have a larger amount in your DCAP account than you expected as the end of the plan year approaches, you can take advantage of the grace period. The DCAP offers a grace period at the beginning of the following year where funds from the previous year can still be used. Don’t forget to submit all your reimbursement claims by the filing deadline as any funds left over after this period will be forfeited. Be sure to calculate your contributions carefully.
And that’s the basics. If you have any questions or need more information, just visit Costcobenefits.com. Thanks for watching, and remember, we’re in this together.
Frequently asked questions about reimbursement accounts
How does a reimbursement account work?
When you enroll in an HCRA or DCAP, you choose how much to contribute by thinking about how much you’ll need to cover your expenses. If you have a reimbursement account for 2024, you should also consider the amount you may roll over from 2024 to 2025.The money is automatically taken out of your paycheck and deposited into your reimbursement account before payroll taxes are calculated.You can fund these accounts up to the annual limit set by the IRS.
When do I enroll in an HCRA and DCAP?
HCRA
If you want toenrollor re-enroll in an HCRA for 2025, you must make your elections during Annual Enrollment, November 1 – 26. If you enrolled in a HCRA for 2024, youneed to re-enroll for 2025 to participate.You can only enroll in an HCRA during Annual Enrollment.
DCAP
Enroll or re-enroll in a DCAP for 2025 during Annual Enrollment, November 1 – 26. You can enroll, change or stop your DCAP election at any time during the year if there is a qualifying change in your dependent care needs. If you enrolled in a DCAP for 2024, you need to re-enroll for 2025 to participate.
What expenses do reimbursement accounts cover?
HCRA
You can use your HRCA for eligible health care expenses for you, your spouse and eligible dependents. These include items that are not covered by your medical plan, such as your copays, deductibles and coinsurance, as well as other health care items and services, such as prescriptions and dental and vision expenses.
Your DCAP can be used for eligible dependent care expenses necessary for you and your spouse to work. Funds can be used to pay for childcare for your dependents age 12 and under, or to care for another family member incapable of self-care such as a spouse, a child age 13+ or a parent. Expense examples include day care, after-school care and in-home care.
Note: The DCAP cannot be used for dependent care health care expenses.
How do I pay for items and services with my reimbursement accounts?
HCRA
You have a few different ways to access your HCRA. The default reimbursement method for the HCRA is autopay. This feature automatically pays your portion of medical and dental claims, such as copays, directly from your account. If you plan to use your funds for something specific, such as braces, you can turn off autopay at the start of the year on the Inspira website or app. You’ll also receive the Inspira Card® — the HCRA debit card — to use for eligible expenses at the Costco Optical Department, Costco Hearing Aid Center or anypharmacy.If needed, you can pay upfront for an eligible item or service and submit a claim for reimbursement.
DCAP
To use your DCAP, youneed to pay upfront for your eligible dependent care or service, then submita receipt and a claim form to get reimbursed from your account. You can submit claims on the website or app.
How much can I contribute to my reimbursement accounts?
HCRA
You can contribute $120-$3,300 per year to your HCRA account. This funding limit is set each year by the IRS. You can access the full amount of your annual HCRA election on January 1, 2025.
DCAP
You can contribute up to $5,000 per year to your DCAP account, or $2,500 if married and filing separately. Access is limited to the current money in your account. You can get reimbursed up to the amount of your year-to-date contributions, not the entire annual amount selected.
What happens if I havefunds left over at the end of the year?
HCRA
Only a small portion of your HCRA balance can roll over to the next plan year. If you are enrolled in an HCRA for 2024, your rollover amount to use in 2025 is $640. This amount is determined each year by the IRS.You forfeit any balance over the rollover limit that remains in your account after the claim filing deadline of April 30, 2025.
DCAP
The DCAP offers a grace period, where funds from the previous year can still be accessed. You can use the funds you contributed to the DCAP for 2024 for any eligible services through March 15, 2025.Claims can be submitted until April 30, 2025. Any funds remaining after the deadline will be forfeited.
Visit the Enrollment Website on Costcobenefits.com to make your reimbursement account elections during Annual Enrollment. For more information, see the resources below.
Annual Enrollment is your opportunity to review and make changes to your benefits plan elections for the upcoming year. It’s also the time to confirm eligibility for any enrolled family members to continue their coverage through 2024.
In late October, an Annual Enrollment letter and the 2024 Benefit Plan Changes booklet were mailed to you to help you with the enrollment process. If you didn’t receive these materials, or if you prefer to review online, you’ll find everything you need at Costcobenefits.com.
♪ ♪ NARRATOR: Your health and the health of your family is a top priority at Costco. That’s why we are committed to providing you and your family with affordable benefits that help you receive quality care whenever needed.
Now that Annual Enrollment is here, we want to make sure you understand the benefits available to you and your family and why this time is so important. Here’s everything you need to know about Annual Enrollment.
Annual Enrollment is the time of year that benefit eligible employees have the opportunity to make changes to their benefit elections for the upcoming calendar year. You can add or drop coverage for yourself or family members, change your existing plans, and explore the benefits available to you and your family in the coming year.
By now, you should have received a kit in the mail that includes everything you need to enroll in Costco benefits. This includes things like the Benefit Plan Changes booklet and information about how to log on to Costcobenefits.com and start the Annual Enrollment process.
If you have not received a kit, that’s totally fine. All of the information in the kit can be found on Costcobenefits.com, where you can also sign up for text reminders about Annual Enrollment, so you don’t miss a step of the process.
We’ve done our best to make the Annual Enrollment process easy. Beginning in November, you can click on the Annual Enrollment banner on Costcobenefits.com to start the process. Once you have selected your benefits, they will go into effect on January 1st.
If you have dependents enrolled, you will need to complete the dependent verification process each year to continue their coverage, even if you didn’t make any changes. When you begin the online Annual Enrollment process, the platform will automatically remind you to verify your dependents.
In addition to core benefits like medical and dental coverage, Annual Enrollment is also a great time to ensure that your beneficiaries are up to date for your Life insurance, AD&D and Retirement plans.
Having your beneficiaries set up for these plans is critical so you can ensure that the right people receive this benefit in case it is needed. You can update your beneficiaries for life insurance and AD&D online while you go through the Annual Enrollment process.
To update beneficiaries for your retirement plans, just visit Rps.TRowePrice.com. As a reminder, if you want to participate in the HCRA or DCAP, you must enroll during Annual Enrollment, even if you were already enrolled for the current plan year.
All your other benefit elections will continue into the following year if you don’t make any changes. And that’s the basics. Annual Enrollment begins and ends in November, so be sure to enroll early.
If you have any questions or need more information, just visit Costcobenefits.com or call the enrollment center at 800-541-6205. Thanks for watching, and remember, we’re in this together.
The recipe for a healthy, happy 2024
Follow this checklist to ensure a successful Annual Enrollment. You must complete these steps by November 21, 2023.
Sign up for text reminders on the Enrollment Website at Costcobenefits.com.
Complete your Dependent Verification to continue coverage for your eligible family members. This must be completed every year, even if you don’t make any changes to your benefits.
Review your current benefits plan elections on the Enrollment Website. This includes confirming your life insurance beneficiaries.
Enroll or re-enroll in your Health Care Reimbursement Account (HCRA) and/or Dependent Care Assistance Plan (DCAP) for 2024.* Remember, even if you’re already enrolled, you must re-enroll to participate in 2024.
To complete your Annual Enrollment, use your ESS user name and password to log in at Costcobenefits.com.
Costco takes your health and well-being very seriously. That’s why your Costco benefits are continually evolving to provide affordable, quality care for you and your family. You’ll find exciting new benefits plan enhancements for 2024 to help with hypertension management, mental health support and vision coverage — all at no cost to you or your covered family members.
♪ ♪ NARRATOR: Your health and the health of your family is a top priority at Costco. That’s why we are committed to providing you and your family with affordable benefits that help you receive quality care whenever needed.
This coming year, we have made exciting enhancements to your Costco benefits, all at no cost for you and your dependents. Here is everything you need to know about this year’s new benefit enhancements.
Costco is offering three new benefits enhancements this year. These are vision benefits through EyeMed, Omada for Hypertension, and Supportiv, a fully anonymous mental health service. These enhanced offerings will be available to you and your family beginning January 1st.
In 2024, your vision and hearing aid benefits will be supplied through EyeMed. With this change to EyeMed, your vision benefit will be available to use throughout the year. You no longer have to use it all in a single purchase, but you do have to use it by December 31st.
This year, we have added a new hypertension program through Omada. This virtual program makes it easier to manage your blood pressure and reach your health goals. The program provides you with a personal health coach and clinical specialist who supply you with a personalized care plan, day-to-day support, and online peer groups and communities.
Plus, you can get a smart device like a blood pressure monitor, and if eligible, a smart scale to monitor your blood pressure and track your progress. If you are already using the Omada for Diabetes or Prevention programs, no action is needed on your part.
Your coach will be able to help you with hypertension as well. Eligible employees and dependents on the Costco medical plan can enroll in this program at no cost. Beginning in 2024, all Costco employees and dependents age 13 or older will have free access to Supportiv, an online peer-to-peer chat support group.
Supportiv is a fully anonymous peer-to-peer service that connects you to other people dealing with the same challenges you are. Conversations are among small groups and are facilitated by trained moderators.
It’s your place to de-stress and feel supported 24/7/365, no sign-ups, assessments, or appointment necessary. These changes are effective January 1st. If you have any questions or need more information, just visit Costcobenefits.com.
Thanks for watching, and remember, we’re in this together.
Explore your enhanced benefits
Help for hypertension
A new virtual blood pressure management program from Omada is coming in 2024. Omada for Hypertension provides one-on-one support and guidance from a personal health coach and clinical specialist, as well as the tools you need to track and monitor your progress. In addition, you’ll get a personalized care plan, weekly lessons and membership in an online support group.
Employees who are enrolled in a Costco medical plan and their covered dependents age 18 or older can participate in Omada for Hypertension at no cost, starting January 1. If you’re enrolled in Omada for Diabetes or Prevention, your health coach can also assist you with this service.
Peer support when you need it
Beginning January 1, all Costco employees, their household members and dependent children age 13 or older will have free access to Supportiv. This online peer-to-peer support program matches you with other people going through the same struggles you are, such as emotional challenges, parenting concerns, relationship issues and much more. The conversations are through live small group chat sessions that are professionally moderated and fully anonymous. It’s your place to de-stress and feel supported 24/7, 365 days a year – no appointment necessary.
Use your vision benefit throughout the year
Starting in 2024, your vision and hearing aid* benefits will be supplied through EyeMed. With this change, you no longer have to use your vision benefit in a single purchase — it’s available to use throughout the year. For example, if you buy a pair of glasses in January for $100, then lose them three months later, you’ll still have $75 to put toward a replacement pair. You must use your full benefit by December 31, 2024.
To learn more about these benefits plan enhancements, visit Costcobenefits.com.
*Hearing aid and eye exam benefits in Puerto Rico will continue to be supplied by Triple-S.
Taking care of yourself and your family can have a big impact on your budget. There are the everyday expenses, including medications and first aid supplies and larger ones, like day care and orthodontia. But here’s some good news: You can set aside pretax money to help pay for these items with reimbursement accounts, administered by PayFlex®. Even better news: You’ll also spend less on taxes.
Costco offers two reimbursement accounts. You can choose to enroll in one or both of them. The Health Care Reimbursement Account (HCRA) is for health care expenses, and the Dependent Care Assistance Plan (DCAP) is for dependent care expenses. You must enroll or re-enroll in these accounts every year, so make your elections for 2024 during Annual Enrollment, November 1–21.
♪ ♪ NARRATOR: Your health and the health of your family is a top priority at Costco. That’s why we are committed to providing you and your family with affordable benefits that help you receive quality care whenever needed.
One of those benefits are the reimbursement accounts available through PayFlex. Here’s everything you need to know about reimbursement accounts. There are two types of reimbursement accounts available to you as a Costco employee through PayFlex, the HCRA and the DCAP.
The HCRA or Health Care Reimbursement Account, allows you to set aside pre-tax dollars to reimburse yourself for eligible medical expenses, such as: Copays, Coinsurance and deductibles, Dental and vision expenses, Prescriptions, and over-the-counter items.
Annual Enrollment is the only time you can enroll in an HCRA account, and the HCRA must be re-elected every year if you want to continue your account. The DCAP, or Dependent Care Assistance Plan, allows you to set aside pre-tax dollars to reimburse yourself for qualified child and elder care expenses necessary for you and your spouse to work.
Funds can be used to pay for childcare for your dependents age 12 and younger, or for a spouse or dependent incapable of self-care. Examples of DCAP expenses are things like day care, before and after school care, nursery and pre-school, and in-home aids.
Please note that the DCAP cannot be used for dependent health care expenses. You need to enroll in the DCAP every year to continue your account, however, you can unenroll, change, or stop your enrollment whenever there is a change to your dependent care needs throughout the year.
Both types of accounts are funded by automatic pre-taxed payroll deductions from every paycheck. If you choose to enroll in one or both of the reimbursement accounts during Annual Enrollment, you will be prompted to choose how much money you would like to contribute for the plan year.
Funds will then be deducted pre-tax from your paychecks and deposited into these reimbursement accounts. While you can access the full amount of your annual HCRA election beginning January 1st, with the DCAP, you can only access the amount currently in your account at the time of your reimbursement request.
Each account has a funding limit set by the IRS. Before you enroll, take a look at your health care and dependent care expenses for the previous year, and think about needs in the coming year to get a sense of how much you would like to contribute.
Your needs may vary from year to year, so think carefully about the coming year’s needs before selecting your contribution level. It is important to remember that funds in both accounts are “use it or lose it” per IRS rules.
Only a small portion of your HCRA balance can roll over into the next plan year. This amount is determined annually by the IRS. Only participants who have an active HCRA as of December 31st are eligible for this rollover.
Any funds beyond the rollover amount are forfeited after the claim filing deadline. This is why it’s so important to consider your anticipated expenses for the coming year before selecting a contribution level for each account.
If you have a larger amount in your DCAP account than you expected as the end of the plan year approaches, you can take advantage of the grace period. The DCAP offers a grace period at the beginning of the following year where funds from the previous year can still be used.
Don’t forget to submit all your reimbursement claims by the filing deadline as any funds left over after this period will be forfeited. Be sure to calculate your contributions carefully. And that’s the basics.
If you have any questions or need more information, just visit Costcobenefits.com. Thanks for watching, and remember, we’re in this together.
The smart way to pay for health care and dependent care expenses
The Health Care Reimbursement Account (HCRA) and Dependent Care Assistance Plan (DCAP) allow you to pay for qualified expenses with money automatically deducted from your paycheck before taxes are calculated, lowering your taxable income. Here are answers to some common questions about these accounts.
What do they cover?
You can use your HCRA for eligible health care expenses that are not covered by your medical plan for you and your covered spouse and dependents. These expenses can include your plan deductible and copays, and many health care items and services, for example:
Your DCAP can be used to reimburse yourself for eligible dependent care expenses necessary for you and your spouse to work. Funds can be used to pay for childcare for your dependents age 12 and under, or to care for another family member incapable of self-care who lives in your home, such as a spouse, a child age 13 or older or a parent. Here are a few examples of eligible expenses:
Note: Your DCAP cannot be used to pay for dependent health care expenses.
How do they work?
When you enroll in an HCRA or DCAP, you choose an amount of money to put aside for the year based on what you think you’ll need to cover your expenses. This money is automatically taken out of each paycheck and deposited into your reimbursement account before payroll taxes are calculated.
You don’t pay taxes on this money. That means you save an amount equal to the taxes you would have paid on the money you set aside.
With an HCRA, you can pay for certain expenses directly from your account with the AutoPay function if you’re enrolled in a Costco medical plan. You can also use the HCRA debit card for eligible expenses, or pay upfront and submit a claim for reimbursement. See below for more details.
Autopay
HCRA
The HCRA will automatically reimburse certain medical, dental and vision plan expenses, including copays, coinsurance and deductibles.
debit card
HCRA
Use for eligible expenses at Costco Pharmacy or Online Pharmacy, Costco Optical Department and Costco Hearing Aid Center.
Claim form
HCRA & DCAP
Use for other eligible expenses, such as prescription drugs or over-the-counter drugs or items.
With a DCAP, you’ll need to pay upfront for an eligible item or service, then you’ll submit your receipt and a claim form through PayFlex to get reimbursed from your account.
Each reimbursement account has different rules and restrictions, as follows:
HCRA
Contribution amounts
You can contribute between $120 and $3,050 per year.
Enrollment
To enroll or re-enroll in an HCRA for 2024, you must make your election during Annual Enrollment.
Access
You can access the full amount of your annual HCRA election on January 1.
Rollover
Only a small portion of your HCRA balance can roll over to the next plan year. If you are enrolled in an HCRA for 2023, your rollover amount to use in 2024 is $610. This amount is determined each year by the IRS.
Use it or lose it
All expenses must occur during 2024. You forfeit any balance over the rollover limit that remains in your account after the claim filing deadline of April 30, 2025.
DCAP
Contribution amounts
You can contribute up to $5,000 per year ($2,500 if married and filing separately).
Enrollment
To enroll or re-enroll in a DCAP for 2024, you must make your election during Annual Enrollment. You can unenroll or change your DCAP election at any time during the year if there is a change in your dependent care needs.
Access
Access is limited to the amount currently in your account. You can get reimbursed up to the amount of your year-to-date contributions, not the entire annual amount you selected.
Grace period
You can use the funds you contributed for any services through March 15, 2024.
Use it or lose it
You can submit claims until April 30, 2025. Any funds remaining after the deadline will be forfeited.
How do I know how much to contribute?
Be very thoughtful when choosing how much money to contribute to your reimbursement accounts. Look at what you spent this year on health care and/or dependent care, and consider how that amount may change in 2024. Money left in reimbursement accounts (except for the allowed rollover amount for the HCRA and the grace period for the DCAP) will be forfeited after the claim filing deadlines.
How do I get started?
If you wish to participate in a reimbursement account for 2024, you must enroll during Annual Enrollment, which ends on November 21, 2023. Important note: If you enrolled in a reimbursement account for 2023, you will need to re-enroll in order to have a reimbursement account for 2024.
Visit the Enrollment Website located on Costcobenefits.com to make your reimbursement account elections. See the resources below for more information.
Each year, Annual Enrollment offers you an opportunity to review your Costco benefits, make changes that better reflect your needs and goals, and confirm eligibility for your enrolled dependents. An Annual Enrollment letter and the 2023 Benefits Plan Changes booklet were mailed to you the last week of October. The booklet contains details about your 2023 benefits. You also can view the booklet on Costcobenefits.com.
The finish line is in sight. Now’s the time to get ready.
Here’s a handy checklist to ensure you have a successful Annual Enrollment. You have until November 22, 2022, to complete the following steps:
Sign up for text reminders on the Enrollment Website.
Review your current benefits plan elections on the Enrollment Website.
Complete the Dependent Verification to continue coverage for your family members, even if you don’t make any changes to your benefits.
Enroll or re-enroll in your Health Care Reimbursement Account and/or Dependent Care Assistance Plan, administered by PayFlex®, for 2023.* This must be done every year. Important note: The balance carryover and grace periodfor reimbursement accounts will change effective January 1, 2023.
Costco takes your emotional, financial and physical well-being very seriously. And that commitment is reflected in your Costco benefits, which continue to evolve to be more accessible and more relevant. This coming year, your Costco benefits will feature some exciting enhancements affecting fertility challenges, adoption expenses, and parenting guidance and support.
Starting January 1, 2023, Costco medical plans will offer coverage for fertility treatments. This benefit will be available to both employees and their covered spouses. You’ll have access to your own fertility advocate, who can guide and support you every step of your treatment journey.
As an Aetna® medical plan member, you’ll also have access to the Aetna Maternity Program.* This benefit offers a wide array of resources, whether you’re planning for a family, already pregnant or working through infertility.
Starting January 1, 2023, Costco will reimburse you for eligible adoption expenses you pay or incur in 2023, up to $5,000 per child you adopt. The plan covers up to two adoptions, for a maximum reimbursement of $10,000. Eligible expenses include adoption fees, court costs, attorney fees and other adoption costs.
To participate, you (or your spouse, if they’re a Costco employee) must have at least one year of continuous Costco employment and be eligible to enroll in a health plan under the Costco Employee Benefits Program. The child you’re adopting must be under 18 years of age.
To learn more, including plan details, how to submit a reimbursement request and what supporting documents are required, visit Costcobenefits.com after November 2022.
Get additional parenting support
The last few years have been challenging for school-age children, not to mention the parents who support them. According to the Centers for Disease Control and Prevention (CDC), “Beyond getting sick, many young people’s social, emotional and mental well-being has been impacted by the pandemic. Trauma faced at this developmental stage can continue to affect them across their lifespan.”1
RethinkCare offers parents tools and resources they can use to help their child or teen manage challenges at home and school. Take advantage of virtual consultations with a behavior expert, as well as an online library with thousands of step-by-step videos and research-based resources on common social, learning and behavioral topics.
New this year, the program has been expanded to support all families with children or teens, not just those with behavioral or learning issues. The program includes a comprehensive library of over 2,400 step-by-step how-to videos that build socialization, language and other skills; a Social and Emotional Learning (SEL) curriculum; downloadable at-home learning materials; and a catalog of goal-based training on parental and family well-being. With the pandemic-related challenges all families are facing right now, RethinkCare is truly a lifeline for parents.
Do you have children in day care? Are your out-of-pocket prescription drug costs increasing? Do your kids need braces? Does your elderly parent require a caregiver?
These expenses can add up. But with a reimbursement account, administered by PayFlex®, you can set aside pretax dollars and pay yourself back through a Health Care Reimbursement Account or a Dependent Care Assistance Plan.* Just be sure to make your 2023 elections during Annual Enrollment, November 1–22, 2022.
To enroll or re-enroll in a HCRA, you must make your annual election during Annual Enrollment. You can contribute between $120 and $3,050 per year. The money you elect will be taken out of your paycheck and deposited into your reimbursement account before payroll taxes are calculated.
You can then use the amount you set aside to reimburse eligible health care expenses incurred by you, your spouse and your eligible dependents. To be eligible for reimbursement, expenses must be incurred during the year in which you elect to participate.
After submitting your expense receipts through PayFlex, you’re paid back from your reimbursement account. You can access the full amount of your annual HCRA election on January 1, 2023.
Dependent Care Assistance Plan (DCAP)
The DCAP lets you set aside pretax dollars to reimburse yourself for eligible child (under age 13) and elder care expenses necessary for you and your spouse to work. Here are just a few examples:
To enroll, or re-enroll, in a DCAP, you can either make your annual election during Annual Enrollment or when you experience a change in your dependents’ expenses during the year. You can contribute up to $5,000 per year ($2,500 per year if you’re married and filing separately) to a DCAP for work-related dependent care expenses. To be eligible for reimbursement, expenses must be incurred between January 1 of the year you elect to participate and March 15 of the following year. For example, if you elect a DCAP account for 2023, you would have until March 15, 2024 to incur eligible expenses.
The money you elect is taken out of your paycheck and deposited into your reimbursement account before payroll taxes are calculated. Since your payroll taxes are then based on a lower gross amount, the amount of taxes deducted from your paycheck is lower, too.
After submitting your expense receipts through PayFlex, you’re paid back from your reimbursement account. With DCAP, however, you can only access the amount currently in your account at the time of your reimbursement request, not the entire annual amount you elected.
Got money in a PayFlex account? Use it or lose it!
If you have a 2022:
You can carry over into 2023:
Health Care Reimbursement Account (HCRA)
A maximum of$570
Dependent Care Assistance Plan (DCAP)
$0
You have until April 30, 2023, to submit reimbursement claims for eligible expenses incurred between January 1 and December 31, 2022.
To enroll or re-enroll in an HCRA or a DCAP for 2023, visit Costcobenefits.com during Annual Enrollment, November 1–22, 2022. See the resources below for more information.
Here’s something to smile about. Depending on your location, you may be able to enhance your dental coverage during Annual Enrollment, November 1-23, by selecting the Aetna Dental EPP Plan.
With the Aetna Dental EPP Premium and EPP Core plan options, you can take advantage of these benefits:
Higher annual maximums — more dollars to spend on dental expenses
The Aetna Dental EPP Plan offers coverage for in-network-only care. This means there’s no coverage for providers who are outside the Aetna® network.* And the plan offers benefits for both your oral health and your wallet:
Quality care In-network dental providers must meet strict quality measures to join the Aetna network. This means better care for you and your family.
No-cost preventive care The Aetna Dental EPP Plan covers two routine exams and two cleanings per year, plus routine X-rays at 100% with no deductible. These services help keep your teeth and gums healthy and contribute to your overall health.
Lower costs In-network dental providers bill based on the Aetna contracted rates, which are typically lower than non-contracted rates. This reduces your out-of-pocket amount and stretches your annual maximum benefit.
*Except for emergencies. Please review your plan documents for specifics about out-of-network emergency coverage.
Note: The Aetna Dental EPP Plan is not available in Hawaii or Puerto Rico. Learn which dental plans are available in your location by checking the resources listed below.
