What's Changing in 2025?

There will be a few changes to your benefits for 2025. 

For 2025, most plans, providers and provisions are staying the same. Below we summarize what changes are occurring. Remember, Waters strongly encourages all employees to login during Annual Enrollment. Most employees will need to take action. For example, some plans require re-enrollment each year (FSAs & HSA contributions). Also, you should step through the medical plan enrollment to evaluate your plan options for 2025 and enroll in the best one for you and your family. You can also make sure your Working Spouse/Partner medical surcharge indicator is set correctly.

Medical/Rx Changes 

Aetna will continue to be your health provider, and there will continue to be three plans to choose from. As you may know, national health care costs continue to rise. Waters works hard to mitigate increasing costs while maintaining high quality medical plan options. For 2025, your employee rates will increase by 3%. It’s important to note that the overall increase is even higher, but Waters will take on the majority of the increase as well as most of the cost of medical coverage—85%. The deductible in the $1,600 plan needs to increase to $1,650 to keep up with the government’s deductible requirements for these types of plans.
If you enroll in either the Deductible $1,650/$3,700 plan, or the Deductible $2,500/$6,250 plan, you can choose to have either an HSA account, or a Health Reimbursement Account (HRA) for 2025.

Most employees open an HSA, but some are in the HRA, for example, if they aren’t eligible for an HSA due to IRS regulations. Examples of not being eligible for an HSA are if your IRS spouse is contributing to a General Purpose Health Care Flexible Spending Account, or you are covered on another medical plan outside of Waters, like Medicare.

See the IRS rules for HSA eligibility here: https://www.irs.gov/publications/p969/ar02.html#en_US_2015_publink1000204025

The IRS is increasing the amount employees may contribute to their Health Savings Account 

In 2024, the IRS limit for how much employees with individual coverage could contribute to their Health Savings Account was $4,150. In 2025, the new limit has increased to $4,300. Employees covering one or more family members can contribute up to $8,550 in 2025 (up from $8,300 in 2024). If you’re age 55 or older, you can add $1000 to each of those maximums (this extra $1,000 is the same as in 2024). These limits include both your contributions and company contributions from Waters (see the Well-being section). 

The Health Savings Account will continue to be administered through Fidelity

The only change here is that the IRS has increased the amount for pre-tax contributions to their HSA Account for 2025. (See the new limits mentioned above.) Waters will again add company contributions to your account in 2025 (see the Well-being section).

Other than the higher pretax contribution limit, the HSAs are remaining with Fidelity for 2025. If you already have an open account, you don’t need to open it again. All you will want to do is elect how much you want to contribute to your HSA in 2025, since your current 2024 contribution election doesn’t automatically carry forward into 2025. Make your election on Fidelity’s NetBenefits.com. You will be able to view and manage your HSA Account on NetBenefits.com. All new employee and employer contributions, beginning with the first payroll of 2025, will be deposited into your Fidelity HSA Account. 

You can continue to use your Fidelity HSA debit card into 2025, and you’ll have the option for a checkbook for your HSA Account with Fidelity. 

If you are enrolling in a Waters HSA Account for the first time, make this election on Fidelity’s NetBenefits during Annual Enrollment and follow the new enrollment instructions located there. Also, be sure to open your HSA account on that same site. 

Having your HSA with Fidelity offers: 

• A clear and simple tool to pay your eligible medical expenses, straight from your HSA Account (on NetBenefits.com) 
• Easy access to all of Fidelity’s mutual funds, to invest your HSA account money (once your account balance is at least $500) 
• Consultative help and assistance to help you understand the HSA, with Fidelity licensed representatives–as you have come to experience with Fidelity’s 401(k) service. 
• Your Fidelity HSA account can be accessed at NetBenefits.com. 

If you are not eligible for an HSA, you can have a Health Reimbursement Account (HRA), or a Flexible Spending Account. Please refer to those sections later in this guide. 

Waters Well-being

Virgin Pulse name change to Personify Health in 2025: 

The vendor partner who hosts our WatersWellnessNow platform will be changing their name from Virgin Pulse to Personify Health in 2025. Look for more information to come. The Waters program will otherwise be unchanged from 2024. Read what this program has to offer here in this eGuide, including reward opportunities for you to earn company contributions to your HSA or HRA account. 

Flexible Spending Accounts Changes

These programs are currently administered by PayFlex/Inspira. Beginning January 1, 2025, Fidelity will become the administrator of these programs. Also, the IRS has increased the allowable pretax contributions limits for both the General Purpose Health Flexible Spending Account and the Limited Purpose Health Flexible Spending Account from $3,050 to $3,200 for 2025. The IRS did not increase the Dependent Day Care Flexible Spending Account limit which will still be $5,000 for 2025. You can make elections for these programs during this Annual Enrollment on www.NetBenefits.com.

Retiree Health Care Reimbursement Plan 

This program is currently administered by PayFlex/Inspira. Beginning January 1, 2025, Fidelity will become the administrator. There are no changes to this plan’s contribution or matching design.

Dental Changes 

Waters will again offer two dental plans through Delta Dental: the Low Plan (which has lower premium/rates costs, but does not cover major services or orthodontia), and the High Plan. Both plans use Delta Dental’s PPO Plus Premier dental network. Dental premium/rates will increase by approximately 3%. Waters will share equally in the increase. 

If you do nothing, you will remain in your current dental plan, at the new premium/rates. 

Vision

There are no changes to the vision plan in 2025. The vision plan will continue with EyeMed. 

Short-Term and Long-Term Disability

There will be no changes to the short-term and/or long-term disability coverage for 2025. 

Life and AD&D Insurance 

There will be no changes to life and/or AD&D coverage for 2025. 

Voluntary Buy-up Options for Life and/or Disability 

The plan options and designs aren’t changing for 2025. If you are enrolled in any of the voluntary buy-up options, those will continue into 2025 automatically. Your premium/rates for any Waters Group Term program might increase if you have moved into the next-highest age bracket used for premium/rates. Whole Life will also continue, with no premium/rates changes. Unlike the life insurance waters already offers, Whole Life Insurance and Long Term Care with Colonial Life is permanent, and owned by you. So if you decide to buy it, you can take it with you if you retire or leave the company. And the cost is based on a fixed benefit and fixed premium/rates… so it won’t break your piggy bank. 

All of these plans are available in Annual Enrollment on NetBenefits.com.

Other Voluntary Plans and Discounts 

All Voluntary Programs will still be offered and will continue into 2025 if you are already enrolled. You can newly enroll in any of them during this Annual Enrollment as well. Learn about them in this eGuide. 

That covers the changes for 2025. But there’s a lot more information available here, in this eGuide, if you’re interested in learning more. Hope it helps!