Borgwarner Inc. · NYSE:BWA
Borgwarner — Investor Presentation (November 2023)
27 slides from Borgwarner's investor presentation, November 2023
Slide 1: Open Enrollment 2024: Benefits for the Road Ahead
Open Enrollment 2024 Benefits for the Road Ahead October-November 2023
Slide 2: Please contact HR Link for any questions
Please contact HR Link for any questions: Hours: 1-844-4BW-LINK (1-844-429-5465) Monday-Friday 8am-4pm Our goal is to respond HRLink@borgwarner.com within 24 hours Benefits · Claims Issues · Life Changes · Workday Support · Life After BorgWarner
Slide 3: It's Here! 2024 Open Enrollment
It’s Here! 2024 Open Enrollment November ENROLLMENT 01, 2023 BEGINS Research Options November ENROLLMENT 15, 2023 ENDS Consider Changes BENEFITS January Effective Date Enroll 01, 2024
Slide 4: Annual Open Enrollment
Annual Open Enrollment Reminder ► Benefit changes can only be made: – At the time of hire – During the annual open enrollment period – Within 30 days of a qualifying life event, such as a birth, marriage, divorce, or change of insurance for one of your dependents ► Elections made during this annual
Slide 5: Mobile Enrollment
Mobile Enrollment ► Open enrollment can be completed on your cell phone! – Employees may use the BorgWarner Workday website or download the free Workday app for Apple or Android devices ► Instructions also available at www.BorgWarner.com/benefits/ithaca 5
Slide 6: Workday Enrollment
Workday Enrollment ► There is a smoking attestation to start off the enrollment process – IMPORTANT: This needs to be completed regardless of which benefits you enroll in ► Parts of the online form will be auto-populated for you to review and verify – FSA is not auto-populated and must be completed
Slide 7: Workday Enrollment (Continued)
Workday Enrollment (Continued) • All employees must complete/submit enrollment • Certain benefits do not carry over from year-to-year • Employees who do not submit an enrollment in Workday are subject to default plan enrollment listed below: Plan Your Default Coverage Medical Choice Medical Plan (Em
Slide 8: Premium Incentive Points
Premium Incentive Points 5 Wellness Points = $0 Premium Cost for CHF Plan or Lowest Premium Cost for CHF+ Plan Employees need to earn 5 points by September 30th, 2023, in order to receive the lowest premium rate in 2024. Note: Spouse surcharge actions are separate and do not count towards points for
Slide 9: 2024 Changes to Current Benefits
2024 Changes to Current Benefits
Slide 10: Reed Group is now Alight
Reed group is now Alight ► Same team, same service, new name – BorgWarner’s current disability vendor, Reed Group, has changed to Alight. While the name has changed, the ways you reach them remain the same. Contact Information Phone (800) 441-9628 Web Portal https://borgwarner.myleaveproservice.com/
Slide 11: Medical
Medical BORGWARNER
Slide 12: 2024 Benefit Plan Options
2024 Benefit Plan Options No Plan Changes for 2024 CIGNA Choice Health Fund CIGNA Choice Health Fund Plus Feature In-Network Out-of-Network In-Network Out-of-Network Plan Deductible $1,500/$3,000 $3,000/$6,000 $1,500/$3,000 $3,000/$6,000 Employee Only / Family BorgWarner-paid HRA Fund* $750/$1,500 $
Slide 13: 2024 Employee Medical Contributions
2024 Employee Medical Contributions Choice Health Fund Your Monthly Contribution Points Earned by Sept. 30, 2023 Employee Only Family 0 $91.92 $303.30 1-2 $68.94 $227.47 3-4 $45.96 $151.65 5+ $0 $0 Choice Health Fund Plus Your Monthly Contribution Points Earned by Sept. 30, 2023 Employee Only Family
Slide 14: Flexible Spending Accounts (FSA)
Flexible Spending Accounts (FSA)
Slide 15: Flexible Spending Account (FSA) Changes
Flexible Spending Account (FSA) Changes For 2024, our FSA account administrator will change from Cigna to Health Equity. What this means to you: ► You will receive a debit card in the mail to use towards your eligible expenses. ► Eligible rollover funds will be rolled over into your 2024 Health Equi
Slide 16: Dental and Vision Plan Updates
Dental and Vision Plan Updates
Slide 17: 2024 Dental/Vision Rates
2024 Dental/Vision Rates No Rate Changes for 2024! Dental/Vision Coverage Coverage Level Monthly Cost Employee Only $19 Employee + Spouse $32 Family $32 17
Slide 18: Voluntary Benefits Updates
Voluntary Benefits Updates BORGWARNER
Slide 19: Updated to Current Voluntary Benefits
Updated to Current Voluntary Benefits Optional Life and A&D Insurance Critical illness ̶ You can now enroll in Workday. ̶ Coverage will move to MetLife from our current ̶ Changes can be made at New Hire, Open Enrollment, and if vendor Allstate you have a Qualified Life Event. ̶ MetLife offers more r
Slide 20: Actions to Take Soon
Actions to Take Soon BORGWARNER
Slide 21: Enrolling Online
Enrolling Online Every employee must make their enrollment elections by November 15, 2023 If no action is taken, benefits will default to specific coverages, which may not suit your needs Contact HR Link for questions about dependent eligibility Open Enrollment: 1-844-429-5465 11/01/2023 to hrlink@b
Slide 22: Qualifying Life Events
Qualifying Life Events Within 30 days of a Qualifying Life Event, you are able to make changes to your benefits. This is the only time you may make changes outside our annual open enrollment period each year. ► Examples of Qualifying Life events: – Birth of a Child – Marriage – Divorce – Spouse lose
Slide 23: Supporting You
Supporting You For more resources, be sure to check out the newly enhanced benefits website at www.borgwarner.com/benefits/ithaca www.borgwarner.com/benefits/ithaca hrlink@borgwarner.com 23
Slide 24: Questions?
BORGWAARNER Questions?
Slide 25: BORGWAAIRNEIRR
BORGWAAIRNEIRR
Slide 26: How to Reset Your Workday Password
How to Reset Your Workday Password If you have forgotten your Workday Input your Username password, click on “Forgot Note: Username for hourly employees is their Workday ID; Username for salary employees is their BorgWarner email address Password” Answer your Security Questions Input your new passwo
Slide 27: Mobile Phone App – Download and Setup
Mobile Phone App – Download and Setup ► Download the free Workday Mobile App for iPhone, iPad, or Android Use your current Workday Username and Password to log in this year Enable Touch ID or Face ID to make it easier to access and reset your password in the future. 27