Enrollment and Eligibility
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Company Key: Synopsys
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Benefits Service Center
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Benefits Service Center
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Synopsys Assist
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What You Need To Know
Open Enrollment is November 1–15, 2024. It’s your chance to explore what’s changing and select the benefits that best fit your needs for 2025. We’re adding new options, so you need to take action to make sure you have the right mix of benefits to see you through the coming year.
What’s New for 2025
Action Is Required During Open Enrollment
You must go online to confirm your benefit elections and/or make changes to your benefits by November 15. In past years, benefit elections have carried over, but because of the additional options being added this year, you need to actively enroll even if you’re waiving Synopsys coverage.
UnitedHealthcare (UHC) Medical Plan Changes
- To give you more flexibility in selecting coverage that best fits your and your family’s needs, we’re making some changes to our UHC medical plans.
- We’re adding a new preferred provider organization (PPO) plan. It has the highest paycheck contributions of all the plans but offers a set copay for primary care and specialist visits, ER and urgent care visits, and prescriptions. Note that the Synopsys PPO Plan is not eligible for a Health Savings Account (HSA), but you can use a Health Care Flexible Spending Account (FSA), which helps you save on health care expenses. Learn more about FSAs by watching this short video.
- The Synopsys Health Savings (HS) Standard Plan, the middle-tier HS plan, is being eliminated. If you’re currently enrolled in this plan, you MUST select a different plan for 2025.
- Under all UHC plans, there will no longer be any limits to the number of covered visits for mental health or substance abuse treatment, if you have a doctor’s diagnosis.
- To maintain compliance with IRS rules, there are some changes to the deductible and out-of- pocket maximum for the Synopsys HS Basic Plan and changes to the deductible for the Synopsys HS Premium Plan.
- Synopsys HS Basic Plan: For individuals, the deductible is decreasing from $2,500 to $2,250, and the out-of-pocket maximum is decreasing from $4,000 to $3,500. For those with family coverage, the deductible is decreasing from $5,000 to $4,500, and the out-of-pocket maximum is decreasing from $8,000 to $7,000.
- Synopsys HS Premium Plan: For individuals, the deductible is increasing from $1,600 to $1,750. For those with family coverage, the deductible is increasing from $3,200 to $3,500. The out-of-pocket maximum remains the same at $3,000 for individuals and $6,000 for family.
- If you’re enrolled in the Synopsys HS Premium Plan, Synopsys also contributes to your HSA! There are no changes to Synopsys contributions for 2025. Learn more about the benefits of using an HSA by watching this short video.
Learn More
Get help choosing your medical plan by checking out this overview or watching this short video.
VSP Vision Plan Changes
If you’re enrolled in the Signature Plus Plan, the VSP EasyOptions additional allowance is increasing for frames (from $95 to $145) and contact lenses (from $70 to $120).
No Increases to Employee Premiums
Synopsys has decided not to increase employee biweekly premiums for 2025!*
| Medical Coverage Level | Synopsys HS Basic Plan | Synopsys HS Premium Plan | Synopsys PPO Plan | Kaiser HMO* (CA and OR) |
|---|---|---|---|---|
| You Only | $19.08 | $51.36 | $57.14 | $56.80 |
| You and Spouse or Domestic Partner | $53.37 | $132.82 | $140.10 | $134.10 |
| You and Children | $33.39 | $106.23 | $112.05 | $103.05 |
| You, Spouse or Domestic Partner, and up to 2 Children | $103.07 | $222.74 | $234.94 | $204.19 |
| You, Spouse or Domestic Partner, and 3 or More Children | $123.69 | $267.29 | $281.93 | $245.03 |
* The Kaiser CA and Kaiser OR plans are now aligned and feature the same benefits at the same rates. If you’re enrolled in the OR plan today, you’ll notice an increase in your rates if you enroll in the Kaiser HMO plan for 2025.
Savings and Spending Accounts Contribution Max Increases
- The IRS limit for contributing to an HSA will increase to $4,300 for individuals and $8,550 for families in 2025. Keep in mind that this maximum amount includes the Synopsys HSA contribution, and employees 55 and older may contribute an additional $1,000.
- The IRS limit for contributing to a Health Care FSA or Limited Purpose FSA will increase to $3,300.
Life Insurance Plan Enhancements
The benefit maximum for employee supplemental life insurance is increasing from $1,000,000 to $1,500,000 (not to exceed 8 times your annual earnings).
You can buy life insurance coverage for your child(ren) in the amount of $1,000, $5,000, $10,000, $15,000, or $20,000. Previously, only the first three options were available.
Group Legal Plan Buy-Up Option
You have a new Group Legal Plan option through MetLife: a buy-up plan that covers your parents, parents-in-law, and grandparents. This can come in handy if your loved ones are needing help with will or trust preparation, estate planning, or any other legal matters. To learn more, review the MetLife Legal Plans Overview.
New Voluntary Supplemental Insurance Plans
If you or a family member ever experiences an accident or serious illness, you (and your bank account) will be glad you put some safety nets in place. For 2025, you can enroll in hospital indemnity, accident, and/or critical illness insurance, which are optional plans that pay cash benefits directly to you if you experience a covered event, regardless of what your medical plan pays.
Hospital Indemnity Insurance
Hospital Indemnity Insurance
If you or a covered family member is hospitalized for a covered accident or illness, this plan will pay you a lump-sum benefit for hospitalization, plus a daily amount for each day of your hospital stay. If you’re planning a surgery for which you’ll be hospitalized, or if you’re planning to have a baby, you may want to consider hospital indemnity insurance.
Covered services include:
- Admission to a hospital
- Hospital stays
- Intensive care unit stays
- Inpatient rehab unit stays
Accident Insurance
Accident Insurance
Accidents happen when you least expect them, whether you get rear-ended on your way home from work, you fall off a ladder while painting the kitchen, or your child gets hurt during a soccer game.
With accident insurance, you’ll receive a lump-sum reimbursement when you’re injured and need treatment because of an accident that happens when you’re not at work. You can also enroll your spouse or domestic partner and/or children.
Covered services include:
- Emergency room and urgent care visits
- Physical and chiropractic therapy
- Leg braces and crutches
- Treatment for fractures and dislocations
- Treatment for burns
Critical Illness Insurance
Critical Illness Insurance
When you suffer a covered critical illness such as cancer, heart attack, or stroke, this plan sends a lump-sum reimbursement directly to you. You also can get paid for having a yearly preventive screening or mammogram. If you enroll in critical illness coverage, you can choose from coverage amounts of $15,000 and $30,000 for both you and your spouse or domestic partner and coverage amounts of $7,500 and $15,000 for your child(ren).
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2025 Open Enrollment begins November 1, 2024.
You must enroll or make changes by 9 p.m. Pacific Time on Friday, November 15, 2024.
Once you’re enrolled, you can access your benefits information through Benefitsolver or the MyChoice mobile app.
What You Need to Do
- Review our new benefits guide to find out more about our plans and programs.
- Register for a webinar, and check out our vendors during their scheduled office hours posted on the Events page.
- Attend an on-site Benefits Fair at your location.
- Monday, November 4: Headquarters
- Tuesday, November 5: Hillsboro
- Wednesday, November 6: Austin
- Log in to Benefitsolver by Friday, November 15 to review your current elections and select your 2025 benefits. Remember! Action is required during this year’s Open Enrollment. You must confirm your benefit elections and/or make changes to your benefits by November 15.
- Add or remove dependents, as needed. If you’re adding dependents to your medical, dental, or vision coverage, you’ll need to submit acceptable supporting documentation to verify dependent eligibility.
- If you’re interested in voluntary Long-Term Care Insurance, Open Enrollment is your chance to enroll. Visit Chubb to find out more, get a rate, and enroll for coverage.
Reminder: If you’re currently participating in a Flexible Spending Account (FSA) and want to continue participating in 2025, you MUST re-enroll during Open Enrollment. Keep in mind that if you have some money left over in your Health Care FSA at the end of 2024, you can use it until February 28, 2025. Plan accordingly when you make your new FSA elections.
Ready to Enroll?
There are three ways to access enrollment:
- Use single sign-on from the U.S. Benefits SharePoint site.
- Log in to Benefitsolver with your username and password. If this is your first time using the portal, select Register and register as a new user. The company key is Synopsys.
- Enroll from your phone. Download Benefitsolver’s MyChoice mobile app.