What's New & Changing | SpaceX 2025 OE

What's New & Changing for 2025?

Medical, Dental and Vision Contributions

Medical EPO: Employee-only coverage will remain FREE, but contribution rates for all other coverage tiers will increase by 5%.
Medical PPO: Employee-only coverage will decrease by about 17%. Contribution rates for all other coverage tiers will increase by 5%.

Guide PPO: Employee-only coverage will increase by 10%. Contribution rates for all other coverage tiers will increase by 5%.

High-Deductible Health Plan (HDHP): Contribution rates for all coverage tiers will increase by 5%.

Kaiser HMO: Contribution rates for all coverage tiers will increase by 5%.
Dental and vision: Employee-only coverage will remain FREE, but contribution rates for all other coverage tiers will increase by 5%.

New Pharmacy Benefit Manager for Medical EPO, Medical PPO, Guide PPO, and HDHP: CapitalRx

SpaceX is excited to partner with CapitalRx to administer your prescription benefits effective January 1, 2025. CapitalRx’s top-tier customer service and resources are available to help you make the most informed decisions for you and your family.

As part of the transition, CapitalRx will work proactively to identify members who may be impacted by out-of-network pharmacy utilization, prior authorization requirements, or a medication coverage change. For mail order and specialty medications, CapitalRx will be working directly with Express Scripts and Accredo Pharmacy to transfer your current, eligible prescriptions to Optum Pharmacy. This process does not include the transfer of expired prescriptions, controlled substances, or those with zero refills remaining. Additionally, CapitalRx will obtain and load current prior authorizations which are effective January 1, 2025 and beyond.

If you’re among the few who will experience changes, CapitalRx will reach out directly by a personalized letter to make the transition as smooth as possible. Rest assured, you’ll get advance notice to allow you time to work with your physician to review and select alternatives, find an in-network pharmacy, or submit a new prior authorization request.

You’ll still have access to Collective Health as a resource for your pharmacy questions. You’ll also receive a new medical insurance ID card with CapitalRx information.

Capital Rx

Guide PPO

Inpatient hospital services: The in-network copay will increase from $200 to $500.
Inpatient labor and delivery hospital services: The in-network copay will increase from $0 to $500.
Emergency Room (ER) visits: The copay will be $200 per visit, regardless of the number of ER visits during the year.

High-Deductible Health Plan (HDHP)

Annual deductible: The in-network deductible will increase to $1,800/individual and $3,600/family. The out-of-network deductible will increase to $5,000/individual and $10,000/family.

Health Savings Account (HSA)

HSA contributions: The annual maximum for HSA contributions will increase to $4,300 for employee-only coverage and $8,550 for family (employee + 1) coverage.

Health Care Flexible Spending Account (FSA)

2025 limit: The annual maximum contribution limit for the Health Care FSA is projected to increase by $100 to $3,300 in 2025.

Note: Per IRS rules, if you choose to enroll in the HDHP for 2025, you will not be eligible to contribute to the Health Care FSA. Instead, the Health Savings Account (HSA) will be available to you.

IMPORTANT! Are You Currently Contributing to a Health Care FSA?
If you choose to enroll in the HDHP for 2025 and you are currently contributing to a Health Care FSA in 2024, you MUST use your entire Health Care FSA balance by December 31, 2024. If you don't, neither you nor SpaceX can begin contributing to your HSA on January 1, 2025. Instead, you'll be required to wait until AFTER April 1, 2025 to make or receive your HSA contributions.

Life and AD&D Plans

Basic life and AD&D: The principal amount will reduce by 35% at age 65 and by an additional 15% at 70.
Voluntary life and AD&D: For newly-eligible employees, the guarantee issue amount will be $250,000 for employee coverage. For spouse coverage, it will be lesser of 100% of the employee's amount of $250,000.

Voluntary Accident, Critical Illness and Hospital Indemnity Plans

We are introducing The Hartford as the new administrator for our voluntary Accident, Critical Illness, and Hospital Indemnity plans. With The Hartford, you’ll have enhanced coverage at a lower cost.

These voluntary plans offer financial support for the unexpected. You can file a claim to receive a cash benefit to use however you like in situations like the following:

Accident Insurance: Fracture, dislocation, concussion, ambulance service, emergency care, X-ray, MRI, physical therapy, or hospital admission due to a covered off-the-job injury.
Critical Illness Insurance: Initial diagnosis of lupus, multiple sclerosis, Alzheimer’s, stroke, coma (noninduced), cancer (invasive), transient ischemic attack (TIA), or other covered critical illnesses. Benefits may also be payable if illnesses reoccur.
Hospital Indemnity Insurance: Hospital confinement due to injury, illness, and pregnancy.

Important incentive! The Accident and Critical Illness plans have a $50 wellness benefit. You can earn $50 per member each year, which can offset the paycheck cost of this coverage. All you have to do is complete a wellness activity (like a primary care office visit, physical, etc.) and submit information to The Hartford.