2024 Magna US Benefits
Welcome to Magna Benefits: You're in the Driver's Seat
With Magna benefits, you can confidently plan for the road ahead. With our flexible benefits program, you have access to a competitive package designed to meet your health and financial needs. So, get in the driver’s seat and explore your options to customize your medical, dental and vision coverage to meet your and your family’s needs.
New for 2024: More Plan Flexibility and Choice
Magna is pleased to offer you additional coverage options for 2024, giving you more choices to select what you need.
- Choose medical, dental and vision plans independent of each other. Beginning this year, you can select the plans that best fit your needs.
- New dental and vision plan options! These are not included in your medical plan choice, so you will need to enroll in them separately.
If you were enrolled in the bundled healthcare plan in 2023 and take no action during Open Enrollment, you and your enrolled dependents will remain enrolled in the same 2023 medical and Rx plan, along with the Base plan for vision and dental, which is comparable to the coverage currently available in 2023.
Eligibility & Enrollment
All regular full-time employees regularly scheduled to work at least 30 hours per week.
Eligible Dependents:
- Your legally married spouse* (including a same-sex spouse and a common law spouse**);
- Your children through the end of the month in which they turn age 26;
- Children under a Qualified Medical Child Support Order (QMCSO); and
- Your mentally or physically disabled adult dependent children who live with you and who are primarily dependent on your for support, if disabled before age 26
*Spouse is subject to an affordability test and/or will run secondary if alternative coverage is available. **Only applicable in States that legally recognize common law marriage
When to Enroll:
- New full-time employees*
- After experiencing a qualified life event*
- During annual Open enrollment
*You will have 31 days to enroll after experiencing these eligibility reasons
How to Enroll:
You can make your benefit elections through the self-service feature by logging into Workday. Please reach out to HR if you should need assistance logging in and/or making your benefit elections.
Making Changes:
New Hires: If you do not elect or waive coverage within 31 days of your benefit eligibility date, you will be defaulted to the lowest coverage plan at employee only level, and will be unable to modify elections until the next Open Enrollment period or if you experience a Qualifying Life Event.
Qualifying Life Events: i.e. new baby, marriage, loss of other coverage, divorce. This must be reported to your HR representative within 31 days of the event for you to update your current benefit elections. If you do not notify within 31 days of the event, you will need to wait until the next Open Enrollment period to make any changes.
Open Enrollment: Open Enrollment is an annual event that is held each fall during which you can review your current elections, enroll in new benefits and/or change your current benefit enrollments for the upcoming plan year, effective January 1. During this time your HR representative will provide any updates and information you may need to make an informed decision for the next plan year!
We are proud to offer competitive medical coverage through Blue Cross Blue Shield of Michigan. It is important to choose the right plan for you and your family, so take in consideration all aspects of the plan offered and cost to ensure you are making the best decision. For more information on your plan design, please see your local HR representative.
Visit the Virtual Center at www.bcbsmlearnmore.com/magna
Create an account: Once you are enrolled in you BCBSM coverage, you can create an account online or download the BCBSM app to ensure you are an informed consumer. You will be able to view your plan design, find care near you, track your cost claims and much more!
Life gets busy and you don’t always have time to wait for an appointment. With Virtual Care you have access to telemedicine and tele-behavioral health right at your fingertips. Get evaluated, diagnosed and treated from the comfort of your home, or whenever is convenient for you!
BCBSM members can score big savings on a variety of health-related products and services from businesses across the United States. Search Member Discounts with Blue365 on the BCBSM website or app!
Pharmacy Coverage for Prescription Drugs:
When you enroll in a medical plan, you will automatically be enrolled in prescription drug coverage through Express-Scripts. For more information on your plan design, please see your local HR representative.
New in 2024! You will have the choice to waive or elect dental coverage with either the base plan or enhanced plan for dental coverage for you and your eligible dependents through Delta Dental.
| Base Plan | Enhanced Plan | |
|---|---|---|
| Deductible | $50 / person | $50 / person |
| Max Family Deductible | $150 / year | $150 / year |
| Annual Family Maximum | $1,000 / person | $2,000 / person |
| Oral Exams | 2 / year | 2 / year |
| Cleanings | 2 / year* | 4 / year |
| Diagnostic & Preventive Care Coverage | 100% | 100% |
| Basic Services | 20% | 20% |
| Major Services | 50% | 50% |
| Orthodontia | No coverage | 50% up to $2,000 lifetime maximum. NEW! No age limit. |
| Your Monthly Contribution | ||
| Tier | Base Plan | Enhanced Plan |
| Employee | $7.92 | $13.40 |
| Employee + 1 | $17.43 | $28.51 |
| Family | $24.99 | $41.61 |
New in 2024! You will have the choice to elect either the base plan, enhanced plan, or waive vision coverage for you and your eligible dependents through VSP.
| Base Plan | Enhanced Plan | |
|---|---|---|
| Glasses or Contact Allowance | Every other calendar year | Every calendar year |
| WellVision Exam | $20 every calendar year | $10 every calendar year |
| Frame Allowance | Up to $150 | Up to $195 |
| Contact Allowance | $130 | $150 |
| Extra Savings | Glasses/Sunglasses, Laser Vision Correction | |
| Your Monthly Contribution | ||
| Tier | Base Plan | Enhanced Plan |
| Employee | $0.98 | $4.00 |
| Employee + 1 | $2.15 | $8.18 |
| Family | $3.31 | $13.01 |
Our Employee and Family Assistance Program (EFAP) is offered to you through Workplace Options (WPO). Whether you need advice, counseling or just a little extra help, Magna’s Employee Family Assistance Program (EFAP) is here for you 24/7/365.
Through the EFAP, you can reach out to safe, confidential resources to get help navigating complex life challenges like finances, relationships and health concerns.
You can also get information on specific health topics. For example, try a self-directed e-learning course, or get assistance locating child or elder care services or legal resources. Get help achieving your emotional, practical and physical wellbeing. Check out what’s on-demand on the EFAP.
For assistance, reach WPO by:
Phone: 1-833-354-2425
Website: https://global.helpwhereyouare.com with Company Code: Magna
Email: support@resourcesforyourlife.com
IConnectYou App: Company passcode 245243
Flexible spending accounts through BASIC allows you to set aside pre-tax dollars in a separate account for future healthcare and/or childcare costs.
Magna offers the chance to help you save for your retirement through our 401(k) plan. If you are an eligible employee you are automatically enrolled at 6% of your pay, on a pre-tax basis, after 30 days of service, unless you choose a different percentage. Magna provides a base contribution of 3% after 6 months of service AND Magna will match your contribution at 50% of the first 6% after 6 months of service so that you can afford to live the life you want in retirement.
You may choose to contribute 1% to 50% each pay period. You may choose to defer a different percentage (including zero), and you can choose to contribute on a pre-tax basis, an after-tax Roth basis or a voluntary after-tax basis by completing an elective deferral agreement online at www.principal.com.
To create an account online:
- Visit www.principal.com
- Click "Invest & Retire"
- Click "Enroll in your 401(k) Plan"
- Click "Get Started"
- Follow the prompts to complete the registration process
Magna provides two (2) times your base annual salary in life insurance and accidental death and dismemberment insurance, along with $5,000 for your spouse and $2,500 for your dependents up to the age of 26 at no cost to you. You can also elect supplemental voluntary life insurance for yourself, your spouse and your dependents.
Magna provides Short-Term Disability to all full-time employees at no cost to you. For more information on your plan design, please see your local HR representative.
Magna offers Long-Term Disability plans and Buy-up Long-Term Disability plans. For more information on your plan design, please see your local HR representative.
Disability:
Additional Services:
As a Magna employee, you are eligible for savings through our discounted programs. Be sure to take advantage of these great discounts based off your needs!
TruHearing through VSP:
Magna Perks at Work:
Blue365:
Nationwide Pet Insurance:
Magna has partnered with Omada to help members lose weight and create healthier habits through one-on-one personal coaching and the tools needed to make long-lasting health changes.
For more information visit the Health solutions tab through your Express Scripts User Portal.
If you do not have any program available through Express Scripts, visit omadahealth.com/magna to see if you qualify.
Health and Wellness for Magna Employees
The “Good for You” Magna Wellness program offers fun, interactive, educational health and wellness resources and initiatives to help you achieve optimal health. Get the knowledge and tools to achieve your health goals.