Fedex to offer new type 2 diabetes plan in 2023 benefits
Company takes step toward personalized health care plans
Fedex will introduce a specialized health care plan option for employees with type 2 diabetes in 2023 among other changes to its employee benefits.
In a newsletter distributed to employees, the company outlined changes to its insurance plans for next year, including new options, eligibility expansion and contribution increases.
Fedex said there would be no changes to current deductibles or out-of-pocket maximums.
One of the major changes included in the newsletter was the launching of a new medical plan option to cover specialty care for type 2 diabetes.
“Personalization is key, and that’s why we are piloting plan options to address specific member needs,” the newsletter said. “This is about moving away from that one-size-fits-all method.”
The plan is also part of an effort by Fedex to center virtual and “data-driven” health care. Participants in the plan will have access to a team of virtual health care professionals and receive a Fitbit and a Continuous Glucose Monitor (CGM) to keep track of activity and blood sugar levels. The collected data will be sent to the virtual team and assessed to come up with treatment options.
To be eligible for the plan, either the employee or their spouse must be diagnosed with type 2 diabetes, but coverage will be extended to any adult child dependents.
Benefits to the plan include lower copays when participants use a “premium designated provider” and some no charge services such as diagnostic tests and diabetes medications. An enhanced option with fewer copays is available for participants who wear the CGM for at least 20 days per quarter.
Monthly paycheck contributions for the plan will be $66 for employees only, $203 for employees and children and $374 for employees and families.
Other changes to Fedex insurance benefits
Fedex outlined a few other changes to its insurance
benefits in the newsletter.
Under the new plan, monthly paycheck contributions will increase by the same amount as they have in past years: $2 for employees only, $12 for employees and children and $18 for employees and families.
Increases in employee contributions to employer health plans are common, and many employees will start paying more for coverage next year. According to the Peterson-kaiser Family Foundation Health System Tracker, premiums are expected to rise an average of 10% in 2023.
The company is increasing the amount employees can contribute to their Health Care Flexible Spending Account (FSA) and their Health Savings Accounts (HSA). Eligibility for FSAS will also be expanded next
year to include part-time Fedex Freight employees and Fedex Ground package handlers, allowing them to pay for some out-of-pocket medical expenses tax-free.
Fedex will also consolidate its life and accidental death and dismemberment insurance under one carrier, Metlife, which will provide additional services at no extra cost such as grief counseling, will preparation and funeral planning.
The enrollment period for Fedex Corporate, Custom Critical, Dataworks, Express, Logistics and Services will run from Oct. 11-25. Enrollment for Fedex Office, Ground and Freight will run from Oct. 13-27.
Niki Scheinberg is the Fedex and logistics reporter at The Commercial Appeal. She can be reached at monika.scheinberg@commercialappeal.com.