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BENEFIT ORIENTATION

BENEFIT ORIENTATION. BENEFIT OVERVIEW. Benefit plan year runs May 1 st through April 30 th for all benefits each year with the exception of Flex which is the calendar year.

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BENEFIT ORIENTATION

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  1. BENEFIT ORIENTATION

  2. BENEFIT OVERVIEW • Benefit plan year runs May 1st through April 30th for all benefits each year with the exception of Flex which is the calendar year. • Changes to your benefits between those dates can only be made with a qualifying event (i.e. birth, divorce, spouse loss of benefits, etc)

  3. HEALTH INSURANCE • Plan Sponsor for Health/Prescription coverage is Unified Group Services • Prescription coverage is through CVS – Caremark • New co-pay for generic drugs – max $7.50 • Retail 90 & Mail order 90 also available • Option of two different networks for health • Sagamore • Encore

  4. HEALTH INSURANCEMONTHLY RATES Employee Only $146.82 Employee & Children $171.22 Employee & Spouse $233.27 Family $253.27 Rates effective 5/1/2012-4/30/2013

  5. HEALTH INSURANCE • Unified Group Services website: www.UnifiedGrp.com Group # 1950 • All enrolled employees have access • As a member, your account enables you to: • Track Deductible Status • View Explanation of Benefits (EOBs) • Go Paperless – Receive Electronic Notification of Claims Payment • Request Additional ID Cards • Email Claims Account Manager • Access Online Wellness Tools

  6. DENTAL INSURANCE • Plan sponsor is Health Resources • Two different plans are offered • Plan 2 – basic coverage • Plan 6 – covers more including orthodontic write-on for dependent children

  7. DENTAL INSURANCE MONTHLY RATES • Plan 2 Employee only $17.70 Employee & 1 dependent $36.40 Family $63.90 • Plan 6 Employee only $30.43 Employee & 1 dependent $62.37 Family $111.22 Rates effective 5/1/2012-4/30/2013

  8. DENTAL INSURANCE • Website: https://www.hri-dho.com • Through this secured area of our website, you can • Contact HRI. • Download your specific plan documents • Verify that HRI has your correct address and coverage. • View claim status for you and your covered dependents.

  9. VISION INSURANCE • Plan sponsor is VSP (Vision Service Plan) • No insurance cards are issued for this benefit

  10. VISION INSURANCE MONTHLY RATES Employee only $7.61 Employee & Spouse $12.82 Employee & Children $13.08 Family $21.09 Rates effective 5/1/2012-4/30/2013

  11. VISION INSURANCE • Website: https://www.vsp.com • As a VSP MEMBER you can: • Check your benefits • Find a VSP provider

  12. FLEXIBLE SPENDING ACCOUNT • What if you could make your earnings stretch a little further? An FSA can do just that. • You have two FSA options: • Healthcare account - $2500 annual maximum • Dependent care account - $5000 annual maximum

  13. FLEXIBLE SPENDING ACCOUNT • You will gain the most savings from your FSA if you plan carefully. When you enroll, you designate in advance the amount of money you wish to have deducted from your salary and deposited into your FSA over the length of a year. • You can elect to have money deducted from your paycheck on a pre-tax basis, to use to pay for certain expenses, such as: • Covered prescriptions • Health plan coinsurance For more information on FSA covered expenses, please visit www.IRS.gov

  14. FLEXIBLE SPENDING ACCOUNT • Why is it helpful to enroll in an FSA? • Reduces your taxable income • Increases your take-home pay • Allows you to pay for out-of-pocket expenses with pre-tax dollars

  15. COMPANY PAID LIFE INSURANCE • Life Insurance policy is one times your basic annual earnings rounded to the next thousand; maximum $50,000. • Benefits reduce to 67% of the original coverage amount at age 65, further reduced to 67% of the reduced amount at age 70 and again at age 75, subject to a maximum of $10,000 at age 70. • AD&D provides an additional benefit if you die as the result of an accident within 90 days. This amount is equal to your respective Life Insurance benefit under this plan.

  16. COMPANY PAID LONG-TERM DISABILITY • Long-term disability benefit is equal to your annual earnings. • In order to qualify for this you must be totally disabled for three consecutive months.

  17. VOLUNTARY LIFE INSURANCE • Plan sponsor is Assurant Employee Benefits • All new employees are eligible for up to $100,000 life insurance policy for themselves without having to complete a health statement within 31 days of being hired • The Guarantee issue amount for spouses is $50,000, and for children, $10,000 if completed within 31 days of hire

  18. VOLUNTARY LIFE INSURANCE & AD&D • Employee Premium Example: • Employee wants $60,000 in coverage • Age is 37 • Employee Bi-weekly Premium: • Life insurance only = $3.12 • AD&D = $1.56 • Total bi-weekly premium for both = $4.68 • Same calculation is used for spouse, but they are not eligible for AD&D

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