What's Changing

Annual Enrollment is October 10 – October 21

From October 10 to October 21, you can enroll in or make changes to your Health & Protection benefits for 2023. The benefit elections you make during Annual Enrollment will be effective January 1, 2023.

2023 Benefits Changes

These are the changes to your 2023 benefits.

Additions to fertility benefits

Beginning January 1, 2023, these are the enhancements to fertility benefits:

  • Medical lifetime maximum will be $20k for new members
  • The lifetime maximum will be increased by $10k for existing members who meet the $10k lifetime maximum in 2022, for a total of $20k
  • Open eligibility to those that do not meet diagnosis of infertility
  • ~~Any member can access the fertility benefit so long as they meet any other plan requirements (enrollment in fertility solutions, COE utilization, etc.)
  • Age requirement for certain services
  • ~~Under age 44, if female and using own eggs/oocytes
  • ~~Under age 55, if female and using donor eggs/oocytes
  • ~~For treatment initiated prior to pertinent birthday, services will be covered to completion of initiated cycle
  • Regardless of meeting infertility definition, embryo biopsy for genetic disorder is covered to prevent transmission of a known genetic disorder
Enhancements to transgender benefits

Beginning January 1, 2023, there will be enhancements to transgender benefits allowing coverage for breast enlargement, including augmentation, mammaplasty, and breast implants (for male to female patients only), rhinoplasty, and thyroid cartilage reduction, including reduction of thyroid chondroplasty and trachea shave, the removal or reduction of the Adam's apple (for male to female patients only).

Health Savings Account

The Health Savings Account contribution limit is increasing to $3,850 (from $3,650 in 2022) for individual coverage and $7,750 (from $7,300 in 2022) for family coverage. Learn more about the Health Savings Account and company contributions if you enroll in the Premium HSA here.

If you enroll in the Premium HSA Plan, the employer contribution will be made at the time you get your second paycheck of 2023.

Health Care Flexible Spending Account

The Health Care Flexible Spending Account contribution limit is increasing to $2,850 (from $2,750 in 2022). For full details about the Health Care Flexible Spending Account, read the Benefits Guide.

Medical, Dental, and Vision Plan rates

Due to the rising cost of health care in the United States, we are slightly increasing the cost to the employee contributions for the Medical, Dental, and High Vision plan. The contributions are not changing for the Low Vision plan. You can see the 2023 rates here.

NEW: Add the BakerHughesBenefits.com icon to your smartphone or tablet!
Baker Hughes Executive QR Code

Download the new BakerHughesBenefits.com/Executives icon onto your smartphone or tablet today so that you can access up-to-date benefits information from the convenience of your mobile device. Find contact information, search for providers, get quick answers to your questions —all in a few quick clicks. The icon is free to add to your home screen and use, and it updates automatically.

Simply scan this QR code. Then follow the instructions to add the icon to your Apple or Android device. Your spouse and covered dependents can download it too.

How to Enroll

Follow these instructions to enroll in your 2023 benefits.

If You Don’t Enroll

If you don’t enroll in Health & Protection benefits by Friday, October 21, you’ll have the same benefits with the same coverage levels you have today. The exception is that you have to make an active election to contribute to the Health Care FSA, Dependent Care FSA, and/or the Health Savings Account or your account contributions will default to $0 in 2023.

Please note: If you plan to enroll in Medicare while you are actively employed, you will not be eligible to contribute to an HSA.

Annual Enrollment is the time of year to make changes to your Health & Protection Benefits. Unless you experience a Qualified Status Change (like having a baby or getting married), your next opportunity to enroll or make changes to your benefits will be next year during Annual Enrollment.

You can review and make changes to your 401(k) anytime during the year. No action is required during Annual Enrollment. Annual Enrollment is a good time to consider contributing at least 5% in order to get the full company match, review your investment allocation, and make sure your beneficiaries are up to date.

Questions?

Baker Hughes benefits representatives are available at 1-866-244-3539. Health & Protection representatives are available Monday - Friday, 7:00 a.m. to 7:00 p.m. CST. 401(k) representatives are available Monday - Friday 7:00 a.m. to 9:00 p.m. and Saturdays 8:00 a.m. to 4:30 p.m. CST.