2024 Benefits Changes

Open Enrollment for 2024 benefits was Oct. 23 through Nov. 10, 2023.

  • Your next chance to enroll in or update your benefits won’t be until next Open Enrollment, unless you’re newly eligible for benefits or experience a qualified life event.
  • If you’re a new hire or newly eligible for medical coverage from now until the end of the year, you’ll need to enroll twice: first for the 2023 plan year, and then again for the 2024 plan year.

We’ve listened to you and have made significant changes to our medical plans to better support your needs. For 2024, we have two new plans that are more flexible, with lower deductibles. Invest the time you need to learn about your options so you can choose what’s best for you and your family. 

You can also view and download the 2024 Open Enrollment Overview. For more information, review the Open Enrollment FAQs

Benefits changes for 2024

New medical plan options

We're introducing new Silver and Gold medical plans for 2024. They have the same covered services and use the same medical and pharmacy networks you’re used to, so you won’t have to change providers.
The in-network deductibles will be lower, no matter which plan you choose. The deductible also works differently if you choose family coverage in the Gold Plan. 
For both plans, you’ll now pay 20% coinsurance after you meet the deductible and until you reach the out-of-pocket maximum. 
Pay less each paycheck but pay more before the plan starts sharing the cost of care. Generally, this plan is better for someone who does not expect to use much health care.
Pay more each paycheck but pay less before the plan starts sharing the cost of care. Generally, this plan is better for someone who knows they will use a significant amount of health care.

Watch: Your new medical plan choices

Here are the percentages you and the plan pay when you get care. When you reach your out-of-pocket maximum, the plan pays 100% of your covered costs. 

In-network preventive care

Plan pays

Non-preventive medical and Rx


You pay


Plan pays 80%

You pay 20%

Meet OOP maximum

Plan pays

Learn more about deductibles and coinsurance

The deductible is the amount of your medical and prescription benefits you are responsible for paying before the plan begins sharing your costs. 
  • The medical plans have in-network and out-of-network deductibles. The out-of-network deductible is always higher. 
  • You’ll find the medical plan deductible amounts in the side-by-side plan comparison below. 

Watch: How deductibles work

The deductibles work differently, depending on the plan and coverage level you choose:
For individual coverage, under both the Silver and Gold plans, once you meet the deductible, the plan will start paying 80% coinsurance of the eligible claim cost. When you meet the out-of-pocket maximum, the plan will pay 100%. 

For family coverage, the deductible works differently, depending on the plan you choose.

  • Silver: This plan works similarly to the current plans. Once one person meets the individual deductible, the plan begins sharing the cost of that person’s care up until the individual's out-of-pocket maximum, then the plan pays 100% for that person.
  • Gold: Here’s where you’ll see a change. If you choose family coverage in the Gold plan, you must meet the family deductible before the plan shares in the cost. While the deductible is lower, one person or a combination of family members must meet the full family deductible before the plan starts paying 80% of the family’s in-network medical/prescription costs. The same is true for the out-of-pocket maximum for family coverage in the Gold Plan. You must meet the family maximum before the plan begins paying 100%.
Coinsurance is new for our plans in 2024. After you meet the deductible, coinsurance begins.
  • The plan will pay 80% and you’ll pay 20% of the covered costs until you reach the in-network out-of-pocket maximum. 
  • Your 20% is called your coinsurance. 

Watch: How coinsurance works

Silver Plan:
Gold Plan:
In-network deductible $4,000/$8,000 $2,000/$4,000
In-network out-of-pocket maximum $6,000/$12,000 $4,000/$8,000
Out -of-network deductible $6,000/$12,000 $4,000/$8,000
Out-of-network out-of-pocket maximum $8,000/$16,000 $7,000/$14,000
Preventive care (no deductible) Plan pays 100% Plan pays 100%
Other covered care and prescriptions (before deductible) You pay 100% You pay 100%
Other covered care and prescriptions (after deductible, before OOP max) In-network coinsurance: Plan pays 80%/You pay 20%
Out-of-network coinsurance: Plan pays 60%/You pay 40%
In-network coinsurance: Plan pays 80%/You pay 20%
Out-of-network coinsurance: Plan pays 60%/You pay 40%
Other covered care and prescriptions (after OOP max) Plan pays 100% Plan pays 100%

Visit ALEX, our new decision-support tool

Not sure which plan may be best for you? Don’t worry, ALEX can help!

ALEX will ask you a few questions to understand you and your family's unique needs. It will help you estimate your expenses for 2024 and give personalized recommendations, allowing you to make confident and informed benefit choices. ALEX will also model how your HSA, FSA, or LPFSA might help you save and cover your out-of-pocket expenses.

*You must complete your enrollment on the Online Enrollment System (must be on the Edward Jones network). ALEX will not save your responses in the Online Enrollment System.

Health Savings Account (HSA)

We’re transitioning certain features about the HSA funding to align our plan with best practices in the industry and help ensure we can continue making firm contributions to your HSAs.

Don’t worry; the firm will continue providing annual HSA contributions for home office associates and client support team members. Here is what’s changing:

  • Regardless of your annual HSA contribution election, the firm will provide HSA contributions in the amount of $500 for individual coverage and $1,000 for family coverage.
  • More good news! The firm will contribute to your HSA twice in a calendar year — 50% of the firm contribution in February and the other 50% in August. This provides you access to the firm’s contributions early in the year.

If eligible*, the firm will deposit the contributions into your account based on the following schedule:

  • The first half in February based on eligibility and coverage as of January 1
  • The second half in August based on eligibility and coverage as of June 30

You must be enrolled in the Edward Jones medical plan as of January 1 for the February contribution, or as of June 30 for the August contribution.

You must meet the following criteria to be eligible to receive HSA firm contributions:

  • Must be employed by the firm when the firm contribution is made;
  • Must be enrolled in an Edward Jones HSA-eligible medical plan; and
  • Must have an open HSA account with Health Equity at the time the firm contribution is made.

Edward Jones will allow you an advancement of only your HSA annual contribution election in 2024, and beginning in 2025, we will discontinue this advancement feature.

*Principals and financial advisors are not eligible for the firm contribution.

Increased contribution limits

You can contribute more to your Health Savings Account (HSA), Flexible Spending Account (FSA), and Limited Purpose Flexible Spending Account (LPFSA) in 2024. These are accounts that help you save money tax-free to help pay for eligible health care expenses. 
Account 2024 max contribution
HSA – Associate-only $4,150
HSA – Family $8,300
FSA or LPFSA $3,050
Important notes:
  • Any HSA contribution you receive from Edward Jones counts toward your maximum contribution amount.
  • If you’re 55 or older at any time during the plan year, you can contribute an additional $1,000 in catch-up contributions.

Help with Medicare

You and your family members nearing Medicare age can get help understanding, navigating, and enrolling in Medicare with the new no-cost Smart Connect program. It includes information, education, and one-on-one telephone support. Experienced representatives can help you make the right choice and put all the plans in place to coordinate with your Edward Jones benefits. To connect with a SmartConnect representative and explore your options, call (833) 460-4726. Representatives are available weekdays from 7:30 a.m. to 5 p.m. CST. 

Enhanced vision benefits

You’ll now have an allowance of $200 to help pay for glasses or contacts.

Wellbeing changes coming

We’re taking an entirely new approach to helping you manage your overall wellbeing in 2024. Stay tuned for more information next year. For now, be sure to complete all your wellbeing activities by Dec. 1, 2023, to earn the full premium discount in 2024. 


Premiums are generally deducted on a pre-tax basis. However, life insurance and AD&D premiums are deducted on an after-tax basis. Long-term disability premiums for principals, financial advisors, service partners and joint venture service partners after one year of service are also deducted on an after-tax basis.

For 2024, medical premiums are going up by 5.8% for you and the firm which is considerably less than the national average of 7.6%. Edward Jones is also giving back to its associates in 2024 by reducing your dental and vision premiums by 15.9% and 29.5% respectively.

The amount of your premium is based on which benefits you select and whom you want to cover under the plans.  
    View 2024 premiums for your role:

View your 2024 elections

You can view your elections in the Online Enrollment System (must be on the Edward Jones network).


Contact HR Help at 800-440-3060 or 314-515-1006, or HRHELP@edwardjones.com.