INSURANCE
Discount Tire 2027 Benefits Guide: Open Enrollment, PPO vs. HSA, and 401(k)
Discount Tire's 2027 open enrollment brings a new medical carrier, updated PPO and HSA plan options, and valuable benefits beyond healthcare. This guide breaks down key deadlines, helps you compare the PPO plan vs. HSA, and highlights 401(k), dental, vision, and other perks, so you can make confident benefits decisions before the October 23 deadline.
Vision Based Planning
Discount Tire employees 2027 open enrollment action items?
Open enrollment runs through October 23, 2026, and benefits begin January 1, 2027. You must elect or waive medical coverage in Workday, since your current elections will not automatically carry over. Beginning in 2027, all employees will have medical coverage available through Blue Cross Blue Shield of Illinois, with pharmacy benefits through Prime Therapeutics. Don't assume your current coverage will continue automatically. Review your options and complete your elections in Workday by October 23 to ensure you have the coverage you need for 2027.
PPO plan vs Health Savings Plan (HSA)?
It depends on your anticipated medical expenses and how you prefer to pay for healthcare. The PPO plan offers more predictable copays for regular doctor visits, prescriptions, and specialist care. The Health Savings Plan (HSA) generally has lower paycheck deductions, and Discount Tire contributes directly to your HSA, providing additional tax advantages and money you can save for future healthcare expenses. Interestingly, even if you anticipate significant medical expenses, such as a planned surgery or having a baby, the HSA plan may still be more cost- effective depending on premiums and employer contributions. At Vision Based Planning, we help Discount Tire employees evaluate their benefits and understand how these decisions fit into their overall financial plan.
What other benefits are available beyond medical coverage?
Discount Tire offers a range of valuable benefits beyond medical coverage, including dental and vision insurance, life and disability insurance, a 401(k) with a 6% company match, and education benefits such as tuition assistance and scholarships for employees' children. Additional benefits include legal and identity theft protection, dependent care savings accounts, pet insurance, and discounts through PerkSpot. Many of these benefits are low-cost or even free, but some require you to actively enroll or set up an account. Take the time to review all your available benefits so you don't overlook valuable opportunities for you and your family.