Nidec Open Enrollment: 2025 Benefits

What’s Changing for 2025

Medical

  • CHP deductibles increasing to align with IRS guidelines
    • In-Network Individual deductible from $3,200 to $3,300
    • In-Network Family deductible from $6,400 to $6,600
    • Out-of-Network Individual deductible from $6,400 to $6,600
    • Out-of-Network Family deductible from $12,800 to $13,200

    Health Savings Account (HSA)

    • Maximum amounts are increasing to $4,300 for individuals and $8,550 for families

    2025 Flexible Spending Accounts (FSAs)

    • For the taxable years beginning in 2025, the IRS released that the Health Care FSA maximum amount will increase to $3,300 (up from $3,200 in tax year 2024). Note: Dependent Care FSA maximums are not adjusted for inflation and will remain at $5,000 for married filing jointly, single or head of household OR $2,500 if married and filing separately in 2025.

    Paid Parental Leave Policy (new for 2025!)

    • Effective Jan. 1, 2025, Nidec Motor Corporation will provide paid parental leave to employees following the birth of an employee’s child OR the placement of a child with an employee in connection with adoption or foster care. The purpose of paid parental leave is to enable employees to bond with their newborn, newly adopted or newly placed child. The company will provide the mother or the father one week of PTO payable at 100% regular rate following the birth of the child. And, for placement of a child for adoption or foster care, the company will provide the mother or the father one week of PTO payable at 100% regular rate. This benefit is administrated by New York Life (NYL). Contact New York Life for information about the approval process.

      Voluntary Benefits and Evidence of Insurability (EOI)

      • During this year’s open enrollment period, eligible employees may elect voluntary life insurance and/or voluntary long term disability coverage up to the guaranteed issue amount without providing evidence of insurability (EOI).

      Benefits Information for 2025

      At Nidec, we offer our employees a competitive and comprehensive benefits program. This is one of many ways we recognize how important you are to the company. The following information briefly summarizes our program in a quick and easy-to-understand way.

      New Hire Enrollment
      As a new employee, you are eligible for coverage on your first day of employment. You must enroll in benefits within 30 days of your date of hire.

      Open Enrollment
      Open enrollment is your opportunity to review your current benefits and make benefit changes for the upcoming plan year. During open enrollment, you can add, change, or decline coverage. In addition, you can add and/or drop dependents during this time. Keep in mind that any dependent you add will need to go through a dependent audit verification process.

      Qualifying Life Event
      Once you make your elections, you will not be able to make changes until the next open enrollment period unless you experience a qualifying life event. A qualifying life event (QLE) is a change in your personal life that may impact your eligibility or dependent’s eligibility for benefits. Examples of some qualifying events include the following.

      • Change of legal marital status (e.g., marriage, divorce, death of spouse, legal separation)
      • Change in number of dependents (e.g., birth, adoption, death of dependent, ineligibility due to age)
      • Change in employment or job status

      Working Spouse Coverage
      If you have a spouse who works full-time and is offered benefits at his or her own employer, your spouse must elect coverage through that employer. If your spouse later loses eligibility under his or her employer’s plan, this is considered a qualifying event and he or she would be eligible to enroll in the Nidec plan as long as an application is made within 30 days of the loss of coverage.

      Benefits Eligibility

      Eligible Employees
      You may enroll in the benefits program if you are a regular full-time employee who is actively working a minimum of 30 hours per week.

      Eligible Dependents
      Eligible dependents generally include your legally married spouse and children up to age 26. Children may include natural, adopted, stepchildren, or children obtained through court-appointed legal guardianship.

      SSN Required
      You must provide a valid Social Security Number for yourself and each enrolled dependent. Employers are required to provide names and Social Security Numbers to the federal government for each individual enrolled for medical coverage.

      Benefits
      Refer to your 2025 At-A-Glance Brochure for details about your benefit options for 2025.

      What you need to do

      • Review the 2025 plan options listed in your At-A-Glance brochure.
      • Review the resources listed below to help you make decisions.
      • Log in to Workday during the open enrollment period which is Nov.  4–Nov. 18, 2024.
      • Enroll and submit your 2025 benefits by the deadline which is Nov. 18, 2024.
      • Remember—you will not have another opportunity to change benefits in 2025 unless you experience a qualifying life event.
      • Make sure your contact and beneficiary information is up to date.
      • Confirm your changes by reviewing your elections and clicking “I Agree” and “Submit“ on the last summary screen.

      What happens if you don’t enroll

      This year’s enrollment is a passive enrollment. This means if you do nothing you will be automatically re-enrolled in the coverage choices you had in 2024 for medical, dental, vision, life, and disability benefits. However, if you wish to contribute to either a Health Savings Account (HSA), Healthcare Flexible Spending Account (FSA), or a Dependent Care FSA in 2025, you will need to make those elections during the open enrollment period. These accounts do not roll over.

      Review These Resources Before You Enroll

      Open Enrollment 2025 Dial-In Meetings — Nov. 4–Nov. 15, 2024

      Our benefits team is ready to answer your benefits questions during the following dial-in meetings times (Central time). Join us from your computer, mobile app or room device. Download Teams | Join on the web

      • Monday, Nov. 4 from 2 p.m.-3 p.m. Central time Join the meeting now
        Meeting ID: 220 740 386 262 Passcode: oeDGV5
      • Wednesday, Nov. 6 from 8 a.m.-9 a.m. Central time Join the meeting now
        Meeting ID: 219 784 495 880 Passcode: UJAFXX
      • Thursday, Nov. 7 from 4:30 p.m.-5:00 p.m. Central time Join the meeting now
        Meeting ID: 280 020 642 963 Passcode: JStLM3
      • Monday, Nov. 11 from 3:30 p.m.-4:30 p.m. Central time Join the meeting now
        Meeting ID: 246 738 961 705 Passcode: u89rqN
      • Thursday, Nov. 14 from 8 a.m.-9 a.m. Central time Join the meeting now
        Meeting ID: 293 364 515 691 Passcode: UBR39K
      • Friday, Nov. 15 from 12 p.m.-1 p.m. Central time Join the meeting now
        Meeting ID: 221 521 388 711 Passcode: vjX8BU

      Have benefits related questions?

      The Nidec Benefits Center is here to help.
      833.213.8135
      NidecBenefits@Nidec-Motor.com