2023 RYAN SPECIALTY BENEFITS
Your FSA & HSA Contributions
You must re-enroll and choose your annual contribution for your HSA or FSAs during Open Enrollment. The IRS requires you to elect new contributions for your FSA and HSA accounts every year. Review your expenses from the last year and evaluate how much you will need for 2023. Use the Alight system to specify your new contributions.
In 2023:
- Employees enrolled in an HSA can contribute up to $3,850 for single coverage and $7,750 for family coverage.
- Employees can contribute up to $3,050 to a Healthcare FSA.
Plan Changes
In 2023, your Medical plan costs will slightly change for the Gold PPO, Silver PPO, and HDHP plans.
In addition, the deductible and out-of-pocket maximum are increasing for the Gold PPO plan. There are no changes in plan designs for the Silver PPO and High Deductible Health Plan.
You won’t see any rate changes for dental or vision plans, but beginning in 2023, the Ryan Specialty dental plan will cover adult orthodontia, and the vision plan allowance for frames/contacts will increase to $200.
See below for a breakdown of 2023 benefit rates.
| 2023 Benefit Plan Rates | |||
|---|---|---|---|
| Plan | Tier | Monthly Rate | Monthly Change |
| MEDICAL | |||
| HDHP | Employee Only | $91.07 | $2.65 |
| Employee + Spouse | $315.65 | $9.19 | |
| Employee + Child(ren) | $214.97 | $6.25 | |
| Employee + Family | $453.34 | $13.20 | |
| SILVER PPO | Employee Only | $140.02 | $4.08 |
| Employee + Spouse | $442.20 | $12.88 | |
| Employee + Child(ren) | $309.89 | $9.03 | |
| Employee + Family | $635.09 | $18.49 | |
| GOLD PPO | Employee Only | $216.65 | $14.17 |
| Employee + Spouse | $636.77 | $41.65 | |
| Employee + Child(ren) | $460.24 | $30.10 | |
| Employee + Family | $914.53 | $59.83 | |
| DENTAL | |||
| DENTAL PPO | Employee Only | $10.69 | No Change in Premium |
| Employee + Spouse | $21.95 | ||
| Employee + Child(ren) | $25.73 | ||
| Employee + Family | $36.99 | ||
| VISION | |||
| VISION PPO | Employee Only | $8.93 | No Change in Premium |
| Employee + Spouse | $14.28 | ||
| Employee + Child(ren) | $14.58 | ||
| Employee + Family | $23.52 | ||
Pet Discounts through Pet Benefit Solutions
We will offer a new opportunity to purchase pet discounts through Pet Benefit Solutions to help keep furry family members happy and healthy. Save up to 40% on your pet’s prescriptions, preventives, food, toys, and more, and 25% on in-house veterinary visits with 24/7 access to real-time support from veterinarians.
Jewelry Insurance
In 2023, we are introducing a new voluntary benefit that protects you if you experience loss, disappearance, or theft of jewelry. This coverage can help you minimize the impact of filing a homeowners insurance claim and offers worldwide coverage. A flat $100 deductible covers all losses, and an appraisal is not required to enroll an item.
PerkSpot
We know that everyone loves a good deal. Starting in November, you can save on everything from travel and car rentals to electronics and entertainment, such as movie tickets. Even clothing and cars are discounted with over 700 merchants to choose from—thanks to PerkSpot, a new discount program available to Ryan Specialty employees.
Parental Leave
We’re pleased to share that Paid Parental Leave time will increase from 4 to 8 weeks for leaves beginning in 2023. Stay tuned for more information in December.
Benefits Eligibility
On your date of hire, you are eligible to participate in Ryan Specialty’s benefit plans, if you are a regular full-time employee and work at least 30 hours per week. You may enroll your eligible dependents for coverage. Your eligible dependents include:
- Your spouse or domestic partner.
- Your dependent child up to age 26 for medical, dental, and vision coverage, regardless of marital or student status. Upon turning 26, dependent children are allowed to stay on the medical, dental, and vision plans for the remainder of the plan year.
- Your dependent child who is incapable of self-support due to a mental or physical disability.
