Check out our 2024 annual enrollment newsletter and our benefits and well-being journey map that shows how Merck provides what you need when you need it.
On January 1, 2024, our pharmacy benefits manager changed from Express Scripts to CVS Caremark. This means CVS Caremark now manages and administers the prescription drug benefits we offer in conjunction with our medical plan. Learn more in the 2024 annual enrollment newsletter.
You can still get your prescriptions filled at any participating pharmacy, whether it’s a CVS or not (e.g., Albertson’s, Costco, Duane Reade, Fred Meyer, Kroger, Rite Aid, Target, Walgreens, Walmart and Wegman’s). In fact, most retail pharmacies in the U.S. participate in the CVS Caremark network.
Call CVS Caremark 24/7 at 800-932-7412 or go online at caremark.com to find a participating pharmacy near you or price out a medication.
Don’t forget to download the free CVS Caremark app to refill and renew prescriptions, check your order status and more! When downloading the CVS app, choose “CVS Caremark” (blue) and not the in-store retail app called “CVS Pharmacy” (red). Apps can be downloaded from the App Store or Google Play.
For 2024, we’ve changed the way life insurance benefits are paid when there is no named beneficiary to a more common sense approach. Learn more in the 2024 annual enrollment newsletter.
Of course, it’s always best if you designate a beneficiary. To do so, or to update a beneficiary already on file, call the Benefits Service Center at 800-666-3725. For more details on how life insurance benefits are paid, refer to the life insurance SPD at onlinespd.com.
After four straight years of no increases to medical plan contributions (a staggering run by marketplace standards) we’ve made adjustments due to healthcare inflation. Merck continues to subsidize most of the cost of medical and prescription drug coverage, and absorbs the majority of these increases. This means there is only a small increase to the medical plan contributions you pay for 2024. What’s more, employee contributions for dental and vision decreased.
No more part-time rates
Beginning in 2024, we’ve eliminated the part-time employee contribution “premium.” So, if you’re a part-timer you pay the same contribution amounts as your full-time colleagues.
You can save real dollars on taxes when you pay for health care and/or dependent care expenses using an FSA.
Click here for the lowdown on FSAs.
You may not be aware of this, but your out-of-pocket maximum in the Merck medical plan varies depending on your base pay as of Nov. 1 of the previous year.* Generally speaking, the higher your base pay, the higher your out-of-pocket maximum.
That said, we had not updated these salary bands in 10 years. With recent inflation, we decided 2024 is an appropriate time to reset them, meaning that, for many, your out-of-pocket maximums are now lower. Note: The out-of-pocket maximum amounts themselves are not changing. Learn more in the 2024 annual enrollment newsletter.
* Salary bands for new hires/rehires are based on your starting salary.
In lieu of frames for prescription glasses, you or your covered dependents can purchase ready-made, non-prescription sunglasses or non-prescription light filtering glasses, up to $150, after a $10 copay.*
* Not eligible for FSA reimbursement.
Certain behavioral health services no longer require prior authorization.* Learn more in the 2024 annual enrollment newsletter.
* These updates went into effect during 2023.
We can’t say it enough. Preventive care is vital to keeping you healthy and healthcare costs down.
You can access everything you need to know about your Merck pension, 401(k) and financial planning benefits at Fidelity NetBenefits. Now, you can see a snapshot of the big picture, as well — the financial value provided by Merck of the compensation and benefits programs the company offers! Go to mycompandben.com and log in using your NetBenefits credentials. Or log in directly from NetBenefits.