2024 Plan Information
Improved Fertility Services by Maven
Maven is expanding its menu of family support services to include fertility.
All employees and their spouses/partners will have access to pre-conception, fertility and preservation support – including a care advocate who will connect you with expert virtual clinicians, on-demand resources and peer communities. Services are free, available 24/7 and do not require you to be enrolled in the medical plan. More >
Managed Fertility Benefit
Additionally, employees and dependents enrolled in the Firm’s medical plan (Cigna or UnitedHealthcare) will now use Maven’s provider network for all fertility-related medical and prescription drug services, including in-person care. Maven will administer the full fertility benefits experience; standard medical plan design (deductibles and coinsurance) will continue to apply. Note: Members currently receiving fertility treatment through Cigna or UnitedHealthcare will be contacted by Maven. More >
Good to know: Maven Wallet tracks expenses and reimbursement requests for eligible fertility, adoption and surrogacy fees under the Firm’s $75,000 family building benefit.
To learn more about these new fertility services, register for a webinar with Maven.
Expanded Preventive Care Services
For 2024, we’ve enhanced the preventive care coverage through our health plans to ensure alignment with recommendations from the United States Preventive Services Task Force. Preventive care is covered at 100% with no member cost share when received at an in-network provider.
- Medical Plan (Cigna and UnitedHealthcare): Several new preventive care services added including common labs performed during routine annual physical, EKGs (in certain scenarios) and Prostate-Specific Antigen (PSA) testing.
- Dental Plan: The dental plans will cover two, instead of one, annual fluoride treatments for your dependent children up to the age of 19.
Employees are encouraged to get age-appropriate preventive care screenings. For those enrolled in the Firm’s Medical Plan with Cigna or UnitedHealthcare, One Medical is available for easy-to-schedule appointments for adults and children.
Good to know: Our onsite health centers (1585 | NY Plaza | Purchase) offer annual physicals along with a range of other preventive services and are available to all employees regardless of medical plan enrollment.
Onsite Mental Health Counseling Available in More New York Metro Offices
We’re expanding onsite mental health services to ensure you have convenient access to quality, affordable mental health care. Provided by Lyra clinicians, services are completely confidential, and you have up to 16 free visits per year.
In mid-November, counseling at the Westchester health center will be available. In early 2024, counseling at the New York Plaza health center will be available. And hours at 1585, which now has a part-time counselor onsite, will expand to 5 days a week.
New Reimbursement Methodology for Out-Of-Network Medical and Dental Plan Services
- Medical Plan (Cigna and UnitedHealthcare): The reimbursement for covered out-of-network services will be based on a set fee schedule – 300% (3 times) of Medicare rates – versus the current practice of paying based on average provider fees in a given geographic area (at the 90th percentile of reasonable and customary, or R&C, fees). To learn more, review these FAQs.
- Dental Plan: Covered out-of-network services will now be reimbursed based on the 80th (versus the current 90th) percentile of R&C.
Long-Term Care Coverage
Employees and their spouses/partners who are age 18 to 70 and employed at the Firm on January 1, 2024, may purchase hybrid long-term care/life insurance, with guaranteed acceptance (no medical questions asked), during annual enrollment only. Rates – available for review on Nov. 3 – are based on your age and locked in for the life of the policy, which is transportable if you leave the Firm. This coverage, underwritten by Allstate, is another way to plan for your financial future and potentially address many states’ recent/upcoming long-term care legislation and taxes. To learn more, register for a webinar with Allstate or call 844-235-3352, M-F, 9 am to 6 pm ET.
Divorce Services Added to the Legal Plan
The menu of services through the legal plan will include up to 20 hours for divorce when you use an in-network attorney. Note: For a contested divorce, the 20 hour limit may not be sufficient. The participant would be responsible for additional amounts incurred with the attorney for time above the 20 hours. More >
Greater Flexibility When Contributing Your Bonus to Your 401k Account
Starting January 1, employees may make separate contribution elections for bonus or incentive compensation – selecting a combination of before-tax, after-tax Roth and after-tax non-Roth deductions. (Currently, only before-tax deductions from cash bonuses are allowed). Bonuses are typically paid in February.
2024 IRS Limits
Setting aside before-tax dollars through paycheck contributions saves you money on your income taxes and reduces the cost of health care, dependent day care, saving for retirement and your commute. See the 2024 contribution limits for FSAs, HSAs, 401(k) plans and commuter benefits. More >
Consider These Hidden Gems
Free Will Preparation
If you elect supplemental life insurance (this is additional coverage above the $50,000 the Firm automatically provides employees at no cost), the policy includes will preparation at no cost. More >
Legal Plan for You, Your Dependents and Parents
This coverage provides affordable access for you and your dependents — as well as your parents and parents-in-law — to personal legal services from wills, trusts and health care proxies to real estate, money matters, adoption, surrogacy, immigration and even traffic tickets. More >
If You're Having a Baby or Surgery Next Year
Having a baby or in-patient surgery in 2023? Hospital insurance pays you a lump sum to use as you choose when you are in the hospital overnight.
Good-to-know: Aflac also offers accident and critical illness coverage to complement the medical plan and help you pay for out-of-pocket expenses. More >
No Enrollment Needed
Many Firm resources do not require you to elect coverage and are available even if you don’t participate in the medical plan, such as expert medical second opinions for your extended family, the mental health benefit, Headspace, backup child and adult/elder care, tutoring for you and your children, and college preparation services, among many others.
Be In the Know about Your Benefits
For a comprehensive collection of the Firm’s 200 resources and programs across our four wellbeing pillars: physical and mental health, financial wellness and family support, review this benefits guide.