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Year-end benefits actions to prepare for 2024

As we approach the end of the year, it’s important to prepare for the upcoming changes to your medical plan, flexible spending accounts, and health savings account

Now that you’ve chosen your coverage for 2024, it’s important to ensure a smooth transition to your new plans before your medical plan, flexible spending accounts (FSAs), and health savings account (HSA) changes on Jan. 1, 2024. 

Use this checklist to understand what to expect and actions to take before the new year.

Change providers if needed

While most of your current providers are in Aetna’s network, some of you may want to find a new doctor, especially for primary care. You can browse Aetna’s network of providers and schedule future appointments for after Jan. 1, 2024.

If you elected the Stanford Select Copay Health Plan and Stanford Choice High Deductible Health Plan, be sure to use preferred in-network providers and facilities for lab work, imaging, and physical therapy for a lower cost than other in-network or non-network providers and facilities. 

Find preferred and other in-network providers in Aetna’s network:

Transition your care if needed

If you are currently receiving treatment for certain conditions and your provider is not in Aetna’s network, you can continue the course of your treatment with the out-of-network provider for 90 days upon approval. During that 90-day period, your claims will be paid as in-network. Aetna offers transition of care treatment for the following conditions:

  • Pregnancy
  • Oncology
  • Behavioral health and substance abuse
  • Transplant
  • Surgeries:
    • Multiple: If you are in process and had one or more multiple stages surgeries prior to Jan. 1, 2024, you may continue treatment
    • Recent surgery: If you completed a recent surgery prior to Jan. 1, 2024, you may continue treatment for a limited time for the purpose of follow up treatment

Blue Shield will provide information to Aetna as part of the transition of care process, and Aetna will begin outreach to identified members in Jan. 2024. 

Manage your medications

If you are taking prescription drugs for an ongoing condition, such as high blood pressure or high cholesterol, check if there are any changes in copays or coverage tiers under Aetna’s formulary. If there are changes to cost or coverage tiers that make your prescriptions more expensive, talk to your doctor about an alternative medication.

Be sure to refill your current medications before Dec. 31, 2023. If you are taking maintenance medication, you can order a 90-day supply before the year ends, which will give you enough time if you need to transfer your prescriptions. 

Be on the lookout for new ID and debit cards

You will receive a new medical plan ID card at your home address if you enrolled in the Stanford Select Copay Health Plan, the Stanford Choice High Deductible Health Plan, the ACA Basic HDHP, or if you are a first-time enrollee in the Kaiser HMO by mid-January. You may begin using it at your doctor’s office, outpatient facilities, and the pharmacy in January. You can also access a digital ID card on the Aetna or Kaiser portal beginning Jan. 1 by following the steps on Cardinal at Work.

If you enrolled in the HSA or an FSA, you will receive a new debit card in the mail from Fidelity.

Provide e-consent to transfer your HealthEquity HSA beginning Dec. 4

Starting Dec. 4, 2023, you can provide consent for HealthEquity to move your HSA balance to Fidelity. You have the opportunity to transfer your funds at no cost to you by participating in the Stanford University group transfer process. If you choose to be included in the group transfer, please provide your electronic consent by Jan. 25, 2024 by visiting NetBenefits.com/stanford

To learn more about transitional key actions, dates, and resources check out MyFidelity

Make your HSA investment elections by Dec. 31

Log into NetBenefits.com/stanford to direct the investment of your future HSA contributions. If you miss the Dec. 31, 2023 deadline, your first payroll contribution will be deposited in cash. 

You can make or change investment elections virtually any time by logging into  NetBenefits.com/stanford, selecting the "Investing" tab and then "Set Up Automatic Investments." New investment elections will be applied to future HSA contributions.

Use remaining FSA funds by Dec. 31

You have until Dec. 31, 2023 to use your 2023 health care and dependent day care FSA funds. While you may submit claims for reimbursement through April 30, 2024, all services must be received by Dec. 31, 2023 to be eligible for reimbursement. 

Keep in mind that you may carry over up to $610 in unused 2023 health care FSA funds to 2024. Rollover funds will be automatically added to your account with Fidelity after the run-out period ends on Apr. 30, 2024, and no action is required. 

Note: After Dec. 31, 2023, any unused dollars from your Dependent Day Care FSA will be forfeited, per IRS rules.

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