At Capital One, we're committed to ensuring you and your family feel supported and cared for, and we know that your benefits play a large role in that support.

Our goal is to provide a comprehensive and competitive set of benefits that offer the flexibility and choice to meet our diverse needs. We want each of you to Be Well physically, emotionally, and financially. That’s why we’re excited about our enhancements to our benefit offerings for 2022, including:

New Medical Plan Option: Consumer-Driven Health Plan (CDHP)

This year, we introduced a Consumer-Driven Health Plan (sometimes referred to as a High Deductible Health Plan). The CDHP offers greater freedom and flexibility in your healthcare spending and savings, especially when you take advantage of the Health Savings Account (HSA) which comes with the CDHP, another exciting offering for 2022.

  • If you choose the CDHP, you’ll automatically be enrolled in an HSA. You’ll be able to contribute money to your HSA, tax free, as well as pay for health care expenses, save for the future, and invest your funds once your balance reaches $1,000. Capital One also automatically contributes to your account – $500 for individual coverage or $1,000 if you cover dependents – regardless of what you contribute! Please note: HSA contributions are prorated for mid-year enrollments. While enrolled in the plan, Capital One will contribute the following per pay period: $19.23 for individual coverage and $38.46 if you cover dependents.
  • The CDHP has the same per paycheck cost as the Basic PPO. Check out Cost of Coverage for more details.
  • Learn more about the CDHP and Health Savings Account (HSA).
Helpful resources to choose the right plan

Preferred Provider Organization (PPO) Changes: Streamlined Options

For 2022, we simplified our PPO options: you have two PPO plans to choose from for reliable, easy-to-plan-for coverage that’ll help ensure you and your family are prepared for the year ahead.

  • The Basic PPO remained the same for 2022 and continues to offer great coverage with a low new per paycheck cost.
  • Compared to the 2021 Enhanced PPO, the 2022 Enhanced PPO features lower co-pays, a lower deductible, a lower out-of-pocket maximum, and the same coinsurance.
  • Learn more about the PPOs.
Helpful resources to choose the right plan

Savings and Spending Accounts Changes: New HSA Option and Updates to FSAs

  • New tax-advantaged savings account, a Health Savings Account (HSA) that comes with the CDHP
  • New, lump-sum Capital One contributions to the Health Care FSA and Dependent Care FSA
  • Keep in mind, if you enroll in a CDHP, you are automatically enrolled in an HSA and are not eligible for a Health Care FSA. If you enroll in a PPO, you are not eligible to enroll in an HSA, but have the option to enroll in a Health Care FSA.
  • For more information, see Health Savings & Flexible Spending Accounts.

Easier Access to Diabetic Supplies

  • Diabetic supplies coverage is now available under your pharmacy plan, giving you an additional option to access supplies, including glucose meters, test scripts, and lancets at a participating pharmacy.

Dental Plan Enhancements

  • The Basic Plan now covers major services such as bridges, crowns, dentures, and dental implants, at 50%, with an increased annual maximum of $1,000.
  • The Enhanced Plan no longer has a deductible so the plan will begin covering benefits right away.

Life Insurance Changes

  • Maximum Life and AD&PL coverage is no longer combined for Basic and Supplemental lines of coverage.
  • Basic Life and AD&PL for non-executives is limited to $500,000 and Supplemental coverage is limited to $2 million.
  • In addition to rules that apply during Open Enrollment for how much you can increase your Supplemental Life election without Evidence of Insurability (EOI), EOI will be required for Supplemental Life/AD&PL coverage over $1M.

Disability Insurance Updates

  • New York Life has acquired Cigna, who administers our Long-Term Disability. Please note the name change. Plan provisions and contact information has not changed.
  • Starting in 2022, Evidence of Insurability (EOI) is not required to enroll in the Supplemental Long-Term Disability plan.

Be Well Health Center Updates

In 2022, you will be charged a $35 co-pay at Be Well Health Centers for non-preventive care if:

  • You or your dependents are not enrolled in any Capital One medical plan, or
  • You and your dependents are enrolled in the CDHP.

associates and dependents enrolled in the Basic PPO or Enhanced PPO can continue to access the Be Well Health Center free of charge for all visits.