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Tools to Help You Choose

For New Employees (to elect benefits for 2023)

For Employees hired October 30 – December 2023 to elect benefits for 2024

 

Enrollment Checklist

Follow these steps to help you enroll in your benefits.

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Learn about your benefit options.

Be sure to review Tools to Help You Choose to learn valuable information on the tools and resources available to help you get the most from your benefits.

Think about your coverage needs.

Including how much health care you anticipate needing and whether your life and disability insurance provides enough protection.

Make sure your dependent information is correct.

Including if all of your dependents are eligible.

Consider your FSA and HSA contribution amount.

Select an amount that will help you pay for your anticipated health care expenses with tax-free money. Learn how these accounts save you money.

Review your beneficiaries.

Review your life insurance beneficiary information in ADP My Pay and Benefits and make updates as needed. (Access ADP from the single sign-on (SSO) link from the Home page of LPL@Work). Don't forget to review your 401(k) beneficiary, too, and make updates as needed in the Empower portal (access Empower from the SSO link from the home page of LPL@Work).

Complete your benefits enrollment on the ADP My Pay and Benefits website by the deadline.

Note: if you are accessing the enrollment site from on the network, use the Single Sign-On (SSO) link from the Home page of LPL@Work. If you are accessing the enrollment site from outside of the LPL network, you will need to use your login credentials to sign in. First time users should follow the self-registration process on the sign-in page (details available on LPL@Work).

TIP: Think about the whole cost.

When choosing a medical plan, it’s important to think about the whole cost of coverage — the amount you’ll spend out of your paycheck, as well as out of your pocket (copays, deductibles, and coinsurance).

 

Top Questions

1. Do I need to enroll as a new hire?
As a New Hire, you have the opportunity to enroll in a wide variety of benefits, including voluntary Life/AD&D with a one-time Guaranteed Issue offer, with no Evidence of Insurability (EOI) required. If you do not enroll by your 30th day of your employment, you will be automatically enrolled in the LPL-paid benefits only (Basic Life/AD&D, Basic STD and Basic LTD). Note, unless you experience a Qualifying Life Event (QLE), you will not have another opportunity to enroll until the next Open Enrollment period in October 2024 for 2025 benefits. Review the site and use the decision tools to be confident that you are making the best decision for you and your family.

2. How are the medical plans different?
The key difference between the plans is how much you pay in premiums, how much you pay for services throughout the year, and where you can go for care. Consider how you prefer to handle costs. For instance, would you rather pay extra from your paycheck for a medical plan that covers more of your costs when you need care, or pay as little as possible from your paycheck — even if that means bigger bills when you need care? Compare the medical plans here.

3. What’s the difference between the Health Care Flexible Spending Account (FSA) and the Health Savings Account (HSA)?
The way the Health Care FSA and the HSA work is largely the same — you contribute to your account through automatic, before-tax payroll deductions, then you can use the money to pay for eligible health care expenses. However, there are some important differences. For example, unlike an FSA, all the unused money in an HSA rolls over year after year and is always yours to keep. And, you can change your HSA contribution amount during the year whenever you want. Compare the accounts here. To learn more about an HSA account, watch this short video.

4. I have questions about my benefits. Who should I contact?
Be sure to review this site (myLPLBenefits.com) for details about each benefit and for carrier/vendor contact information. Plus, check out Tools to Help You Choose to see a full list of helpful resources. If you still have questions regarding plan selection, our partner for healthcare navigation, Alight Health Pro, can help (1.800.513.1667, extension 4402). If you experience technical difficulties during your enrollment in ADP My Pay and Benefits, contact the LPL Benefits Service Center at 1.855.894.7752 or LPLFinancialServiceCenter@adp.com.