PayPal offers benefits to help improve your financial security, like our new Long-Term Care (LTC) benefit and savings and spending accounts.
New! Optional Long-Term Care with Life Insurance benefit.
PayPal is committed to supporting you through your financial wellness journey. As an enhancement to our benefits program, we are partnering with Trustmark to introduce a new optional Long-Term Care (LTC) with Life Insurance benefit. This is an optional insurance that offers financial security and peace of mind if you or your covered dependents experience physical or cognitive impairments caused by an illness, injury, or chronic health condition.
The enrollment period for the LTC with Life Insurance benefit was open from October 10th through November 11th. Enrollment for this plan is now closed.
One policy, two benefits
This policy offers life insurance coverage for your family, which includes an accelerated benefit that can be used to pay for long-term care benefits if you need them. Examples include support for activities of daily living like eating, bathing, and dressing. LTC benefits help protect your retirement savings, ease the burden of caregiving typically taken on by your loved ones, and allow you the option to choose the setting in which you receive care.
For long-term care, if you become chronically ill and qualify for benefits, you can access 4% of the selected Life Insurance benefit per month. The LTC benefit continues paying up to twice the life insurance benefit amount if you continue to need care. For example, if your life insurance benefit is $100,000, your monthly LTC benefit would be $4,000 and your total LTC benefit would be $200,000.
Save more money on your journey.
Health Savings Account (HSA)
Enrolled in the CDHP medical plan with a Health Savings Account (HSA)? The amount you can contribute to your HSA is increasing for 2023. Make your 2023 selections in YBR during Annual Enrollment.
Your contribution: $3,850 for employee only coverage or $7,750 for employee and family coverage
PayPal’s contribution: $500 for employee only coverage or $1,000 for employee and family coverage
Use the money to pay for eligible medical expenses now, save the money for expenses in the future, or invest the money to grow your savings — all tax-free.
Health Care Flexible Spending Account (FSA)
With the Health Care Flexible Spending Account (FSA), you can pay for eligible out-of-pocket expenses, such as office visit copayments, prescription copayments, or dental or vision expenses, with tax-free dollars! Make your 2023 selections in YBR (@Work) | (Log In) during Annual Enrollment.
Contribute up to $3,050 (2023 IRS limit)
Don’t forget, if you’re currently enrolled in an FSA and want to participate in 2023, you must re-enroll during Benefits Annual Enrollment.
HSA versus Health Care FSA
If you’re enrolled in or plan to enroll in the CDHP with HSA plan and want to enroll in the Health Care FSA, reimbursement under the FSA is limited to dental and vision expenses only. (The HSA already gives you a tax benefit on medical expenses.)
Health Reimbursement Account (HRA) contributions increasing
For employees in Grades 15–19 who are enrolled in the Copay Plan, you’ll continue to receive a contribution to your HRA to align with the Copay Plan deductibles.
$500 for individual coverage / $1,200 for family coverage
Dependent Care FSA
Are you paying for child care or elder care? If so, you can pay your share of the coverage with pre-tax dollars. Contribute up to $5,000 (IRS limit) to a Dependent Care FSA. As a reminder, if you’re currently enrolled in an FSA and want to participate in 2023, you must re-enroll with YBR during Benefits Annual Enrollment. FSA annual elections do not carry over.