2021 premium holiday
for medical PPO, HDHP and HDHP basic plans
what are the premium costs after the holiday is over?
The BenefitConnect website will display a $0 rate for all medical plans affected by the premium holiday. If you need to see the medical coverage rates that apply after the premium holiday ends, we’ve provided them here.
If you are an eligible employee enrolled in a Chevron medical plan, you and Chevron share the monthly cost of coverage – the premium – for your plans. Our premium cost is determined, in part, by health claim expenses incurred by the plans in the previous year. For the Medical PPO, HDHP and HDHP Basic, we’ve determined that expenses have been better than projected, resulting in a surplus of funding at this time. For this reason, Chevron is temporarily suspending monthly premiums as we bring these plans’ funding back into balance.
get the details
- You will not have to pay for your medical coverage during the premium holiday.
- The premium holiday period is May through September 2021.
- The premium holiday applies to all coverage levels, from You Only through You + Family.
- Your original 2021 premium rate for these plans will be reinstated for the month of October and continue through December 2021.
- The premium holiday only affects your monthly premium cost. Deductibles, coinsurance, copayments and other out-of-pocket costs will not change and remain your responsibility.
- You should know that the starting and stopping of a premium holiday is not considered a qualifying life event. This means that you cannot change your 2021 medical coverage just because the premium holiday begins or ends.
- The premium holiday applies to pre-65 retiree participants of the Medical PPO Plan, the HDHP and the HDHP Basic.
- The premium holiday does not apply to Medical HMOs, the dental plans, the Global Choice plans or any other Chevron benefit plans.
- The premium holiday does not apply to COBRA coverage for the Medical PPO, HDHP or HDHP Basic.
During the premium holiday, if you are enrolled in the Medical PPO, HDHP or HDHP Basic:
- You will not see a line item deduction on your pay statement for your medical premium.
- If you are eligible for the Wellness Credit, you will not see a line item for the Wellness Credit.
- If you are subject to the additional after-tax and imputed income deductions for medical coverage for a domestic partner, this deduction will not be taken during the premium holiday.
|What to expect
|Employees paid on a bi-monthly schedule
|Employees paid on a bi-weekly schedule
Starting in April and through the end of August, the display of your medical coverage and the Wellness Credit (if applicable) will be temporarily different on the BenefitConnect website due to the premium holiday.
- You will continue to see your enrollment in the Medical PPO, HDHP or HDHP Basic, but the cost will appear as $0.
- Your eligibility for the Wellness Credit will continue to accurately display, but the credit will appear as $0.
- When the premium holiday ends, all medical premium cost and Wellness Credit displays will return to normal.
Please note that the display of the Medical PPO, HDHP and HDHP Basic medical plans may appear as $0 on the BenefitConnect website depending on when you make your new hire benefit elections. This is not an error and is due to the system programming for the premium holiday. While the $0 rate will apply to your coverage while the premium holiday is active, know that normal medical coverage premiums will be reinstated after the premium holiday has concluded. You should review the normal employee 2021 medical coverage rates here prior to making elections so you understand your premium cost after the premium holiday has concluded.*
* Please note: As a new hire you are not eligible for the 2021 Wellness Credit, so you should consult the rates listed under the Active Employees (without Wellness Credit) columns.
The premium holiday applies to pre-65 participants of the Medical PPO Plan, the HDHP and the HDHP Basic.
- The premium holiday does not apply to Medical PPO, HDHP, or HDHP Basic COBRA coverage.
- The premium holiday does not apply to post-65 medical coverage.
The display of Medical PPO, HDHP and HDHP Basic medical plans for pre-65 participants may appear as $0 on the BenefitConnect website, depending on when you model or make pre-65 retiree health benefit elections. This is not an error and is due to the system programming for the premium holiday. While the $0 rate will apply to these pre-65 medical plans while the premium holiday is active, know that normal pre-65 medical coverage premiums will be reinstated after the premium holiday has concluded.
We understand that cost plays an important factor in planning for your retirement and in making coverage choices. You can review these instructions to estimate the 2021 premium cost for pre-65 health coverage prior to making elections so you understand your premium cost after the premium holiday has concluded. You can also call the HR Service Center for assistance.
If you are on an unpaid leave of absence and are currently enrolled in and paying premiums for the Medical PPO Plan, the HDHP and the HDHP Basic through direct billing, the premium holiday will affect you as follows:
|What to expect
|For direct debit payments through AutoPay
|For mailed paper billing invoice payments
This communication provides only certain highlights about benefit provisions. It is not intended to be a complete explanation. If there are any discrepancies between this communication and the legal plan documents, the legal plan documents will prevail to the extent permitted by law. Oral statements about plan benefits are not binding on Chevron or the applicable plan. Chevron Corporation reserves all rights, for any reason and at any time, to amend, change or terminate these plans or to change or eliminate the company contribution toward the cost of such plans. Such amendments, changes, terminations or eliminations may be applicable without regard to whether someone previously terminated employment with Chevron or previously was subject to a grandfathering provision. Unless required by applicable law, there are no vested rights with respect to any Chevron health and welfare plan benefit or to any company contributions towards the cost of such health and welfare plan benefits. Some benefit plans and policies described in this document may be subject to collective bargaining and, therefore, may not apply to union-represented employees.