2020 US Benefits Annual Enrollment

Your health and welfare are top priorities at NOV, and we are committed to providing competitive and flexible benefits for our employees and their families. This page contains 2020 employee benefits information to help you choose the right coverage for you and your family. Take time to review these resources and understand your options as well as what’s changing for 2020.

Annual enrollment will be accessible October 21 to November 1, 2019, for you to make changes to your benefits elections for 2020. Download the Quick Reference Guide for instructions on how to enroll in benefits on Hub and the AE Guide for additional information.

The major changes for 2020 are as follows:

There will be no increase in employee premiums; however, there will be some changes to both PPO plans, including increases in deductibles, out-of-pocket maximums, and office visit copays. There are no changes to the Consumer Plan + HSA.
As of the first payroll in 2020, the Retirement Contribution will be lowered by 1.5% across the board to range from 1% to 4%.
It will be a passive enrollment. PPO participants will be defaulted from the 600 PPO Plan to the 800 PPO Plan and from the 1200 PPO Plan to the 1400 PPO Plan unless they log in during the annual enrollment period and make a change. Employees wanting to contribute to Flexible Spending Accounts need to make new elections for 2020.
CVS Caremark will become NOV’s prescription benefits provider, effective January 1, 2020. They have a large network that includes both CVS and non-CVS pharmacies. Participants will now have a pharmacy ID card in addition to the BCBSTX card starting in 2020. Use the links below to determine the estimated cost of your medications based on the healthcare plan you select:

MetLife will become NOV’s life/AD&D insurance vendor, effective January 1, 2020. Current coverage levels will transfer over. We will receive additional services from MetLife, including will preparation and travel assistance programs. Unum will continue to be NOV’s vendor for disability insurance and leave management.
Annual Enrollment packets will only be mailed to employees who are not assigned an NOV email address and to employees who came from the Denali acquisition. All annual enrollment materials will be available through Hub.