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UASI orientation-benefits
- 1. Welcome to New Employee Orientation - Benefits
- 2. Summary of Benefits Health Insurance*– Anthem Blue Cross & Blue Shield Dental Insurance*– MetLife Long Term Disability – MetLife Short Term Disability – MetLife Basic Term Life Insurance*– MetLife Voluntary Term Life Insurance – MetLife 401(k) Retirement Savings*– Fidelity Investments Flexible Spending Account* - TASC *Some plans qualify for IRS Section 125 – Cafeteria Plan – premiums and contributions deducted before tax
- 3. Health Insurance Available to all full and part-time employees working at least 30 hours per week Eligibility begins on the 1st of the month following 30 days of employment Coverage provided through Anthem Blue Cross & Blue Shield PPO Network and High Deductible/HSA options www.anthem.com/www.myanthem.com
- 4. Health Insurance Employees have a choice between two plans: Anthem PPO Deductible $1,000/$3,000 Co-insurance 20% Office co-pay $20/$50 (specialist) Prescriptions: Tier 1 $15 Tier 2 $200 deductible; then $40 Tier 3 $200 deductible; then $60 Employee Cost Per Pay Period: Single: $45.00 EE/Spouse: $127.00/$165.46* EE/Child(ren): $102.00 Family: $153.00/$191.46 * Anthem Lumenos HSA Deductible $3,000/$6,000 Prescriptions: After deductible is met – 0% Employee Cost Per Pay Period: Single: $22.00 EE/Spouse: $51.00/$89.46 * EE/Child(ren): $40.00 Family: $71.00/$109.46 * *Working Spouse Rate
- 5. Health Coverage Annual Deductible HSA PreventiveCare Preventive Care is covered at 100% • Amount that needs to be satisfied before health coverage begins • Preventive care is not subject to deductible • Option to reimburse from this account • Receive tax-free interest earnings while your money remains in your HSA • If HSA funds are used for eligible expenses, then withdrawals are tax free • Protects you from high costs • Your annual deductible is also your out-of-pocket maximum. Resources and Tools • Available via phone • Cost / Quality Comparisons • More… The HSA Plan Components
- 6. Account Funding Example 2010 Elections – Single PPO $45.00/pay $1,170/year Flex Spending Account $38.46/pay $1,000/year Total $83.46/pay 2010 Elections – Single HSA $22.00/pay $572.00/year HSA Contribution $23.00 – difference in premiums $38.46 – FSA contribution $19.23 – UASI Contribution $2,097.94/year in your HSA Total $83.46/pay
- 7. Dental Insurance Available to all full and part-time employees working at least 30 hours per week. Eligibility begins on the 1st of the month following 30 days of employment. Coverage provided through MetLife. PPO Network www.metlife.com/dental
- 8. Dental Coverage Dental Coverage Outline: MetLife Dental Type A-Preventative 100% Type B-Basic Restorative 100% Type C-Major Restorative 60% Deductible $50 Annual Maximum $1,000 Employee Cost Per Pay Period: Single: $12.00 EE/Spouse: $23.00 EE/Child(ren): $25.00 Family: $36.50
- 9. Disability Insurance Available to all full and part-time employees working at least 30 hours per week Eligibility begins on the 1st of the month following 30 days of employment Coverage provided through MetLife Short Term Disability Employee pays 100% of premium Provides coverage at 60% of earnings upon qualifying disability 7 day waiting period Long Term Disability Provides coverage at 60% of earnings upon qualifying disability 90 day waiting period
- 10. Basic Term Life/AD&D Insurance Available to all full and part-time employees working at least 30 hours per week Eligibility begins on the 1st of the month following 30 days of employment Coverage provided through MetLife Maximum Benefit Life/AD&D - $15,000 Employee Premium - $1.00 per pay period Late enrollees will need to complete a Statement of Health prior to enrolling
- 11. Voluntary Term Life Insurance Available to all full-time employees working at least 30 hours per week Eligibility begins on the 1st of the month following 30 days of employment Coverage provided through MetLife Guarantee Issue Employee - $100,000 Spouse - $25,000 Child/ren - $10,000 Amounts above guarantee are subject to the Statement of Health Premiums are rated based on age
- 12. Vision Insurance Available to all full and part-time employees working at least 30 hours per week Eligibility begins on the 1st of the month following 30 days of employment Coverage provided through EyeMed Visit www.enrollwitheyemed.com and choose “Select” for a list of providers
- 13. Vision Insurance
- 14. UASI 401(k) Plan UASI Savings and Retirement Plan Excellent tool for increasing your retirement savings through Fidelity Investments Participation - age 21 and completed 6 month(s) of service, as defined by the Plan Enrollment - Eligible employees may begin participating in the Plan on January 1 or July 1 Additional assistance is available from David Lange at Merrill Lynch (800) 234-2099 david_lange@ml.com
- 15. Flexible Spending Account Two Types of Accounts Medical Reimbursement Account Dependent Care Account Employees allocate money to be set aside on a “Pre- tax” basis for use of qualified medical expenses or qualified dependent care expenses Enrollment once a year during company open enrollment period (November/December) Plan year extends from January to December
- 16. Paperwork to Complete and Return Benefits Benefit Election Form Anthem Enrollment – Health only MetLife – STD, LTD, Dental, Basic Life, Voluntary Life, Statement of Health EyeMed If you do not plan on enrolling in an insurance benefit, you still need complete “waiver section” of each form.
- 17. We hope your time with United Audit Systems, Inc. is a long and rewarding experience
Hinweis der Redaktion
- Welcome to the UASI New Employee Orientation for Benefits. This presentation will give you a brief overview of the benefits offered by UASI and answer some of the questions you may have. As always, should have questions not answered in the presentation, do not hesitate to contact Sherri Martin or Holly Saylor in the Human Resources Department at (800) 526-0594.
- UASI realizes that benefits are an important part of your compensation package and strongly believes that we offer a competitive and comprehensive benefits package to our employees. Anthem Blue Cross and Blue Shield provides our health coverage and offers a nationwide directory of providers not found with other insurance companies. MetLife provides our dental, long-term disability, short-term disability, basic and voluntary life insurances. Our 401(k) Retirement Savings is administered by Fidelity Investments, one of the world's largest providers of financial services. We also offer flexible spending accounts for medical expenses and childcare expenses which is administered through TASC.
- Health coverage is available to all full and part-time employees working at least 30 hours per week. Your eligibility will begin on the 1st of the month following 30 days of employment. So for example if you’re start date is April 15th, your benefits will be available on June 1st. We offer two options through Anthem: a PPO plan which your typical co-pay plan and an HSA plan which is a high deductible plan. More information can also be found on Anthem’s website, www.anthem.com and once you’re enrolled at www.myanthem.com.
- Choice is important and UASI feels that the two health care options it offers will benefit you and your family. The first option is the PPO option which is your typical co-pay play. There are co-pays for office visits and prescriptions. For outpatient and inpatient services, you must meet your deductible and then you’ll be responsible for 20% up to the out of pocket maximums of $4,000 single/$8,000 family. There are out-of-network benefits as well available and more information on those can be found beginning on page 14 of your Anthem booklet. The Anthem Lumenos HSA plan is the second option provided by UASI. This plan is a high-deductible health plan with an option to utilize a pre-tax health savings account to pay for healthcare costs. Many experts in the health care industry feel that this is the way that health coverage is being directed. So now may be the time for you to get in and start saving for the future. The basic concept is that you are responsible for all health care costs up to the defined deductible and then after you reach that amount, all costs are covered at 100%. In exchange for a higher deductible, you pay a lower premium. We’ll explain more on the following slides. You may notice that there is a “Working Spouse Rate” for Employee/Spouse and Family coverages. If your spouse is eligible for coverage through the their employer, you will pay the higher “Working Spouse Rate” premium contribution. Employees in these two coverage categories whose spouses are not eligible for other employer-provided coverage will pay the lower “Base Rate” premium contribution. If your spouse becomes eligible for coverage on the employer’s plan in the future, through Open Enrollment or some other such mechanism, you must complete a new “Spousal Coverage Declaration Form” at that time.
- Think of the HSA plan has a house with different rooms. The first room is “Preventive Care”. In your Anthem booklets that were mailed to you, you’ll see a listing of preventive care services. These services are covered at 100% meaning that there is no charge to you. They do not count towards your deductible or out-of-pocket expenses. If you were on the PPO plan, you would be responsible for a $20 co-pay for these services. And if you’re a healthy individual, this may be where you incur most of your expenses on the PPO plan. The second room of the HSA house is your annual deductible. On our plan, there is a $3,000/single and $6,000/family deductible. What this means to you is that you are responsible for those costs. This includes prescriptions, doctor’s visits, labs, etc. Everything counts towards your deductible unlike the PPO plan. However, these expenses are at the Anthem’s discounted rate, not “retail” as many people fear. And if you are in a family and one person reaches $3,000, then THEIR 100% coverage would begin and the rest of the family would continue to work towards that $6,000 deductible. The next room we’ll visit is the actual health savings account. This savings account is YOUR account that you fund using pre-tax dollars to cover any medical expenses you may incur. These funds are what you can use as you chip away at your deductible. You don’t have to use them; you can elect to pay for that $4.00 prescription out of your personal account and save this money for more expensive procedures. Additionally, you earn tax-free interest on this money (1.72%) and once you reach the $2,000 threshold, you can ELECT to invest your money in various accounts. And unlike a flex-spending account, you don’t have to use or lose it. This money rolls over year-to-year so that it continues to grow. You won’t have to run out at the end of the year and buy all those Scooby Doo band-aids. Finally, the last room is the “Health Coverage” room. This kicks in once you reach your deductible/out-of-pocket max. It protects you from high costs in case of a catastrophic illness or accident. Once you reach $3,000/$6,000 max, you’re covered at 100% for the remaining portion of the year. Keep in mind with the PPO plan, your maximum out of pocket is $4,000/single and $8,000/family and you ALWAYS have co-pays...those never go away. With the HSA plan, you really have control over YOUR money. You have tools that you don’t necessarily have with the PPO plan. You have web access to do cost/quality comparison, access to wellness programs, and a 24/7 NurseLine to discuss any health problems you may have. Are there any questions so far?
- A general example of how you can make contributions to the is to subtract the cost of the HSA plan from what you would pay for the PPO plan. With that savings, begin your health savings account. Have you been contributing to a flex spending account? Add that money to your HSA. The money that you do not use will continue to rollover from year to year. In this example, there’s no difference in your payroll deduction. And the money that you paid the insurance company for those doctor’s visits you didn’t use is in your wallet, not the Anthem’s. To give you another example, if you’re a healthy individual, you would have to go to your family doctor 22 times to get back the difference in premiums at a $20.00 co-pay. And again, this plan works if you have more critical health problems. For example, if you’re on a costly prescription, you may reach your $3,000 quickly and your remaining health care costs for the year would be covered at 100%. On the PPO plan, you would have the $200 prescription deductible, which does not count towards your medical deductible or out-of-pocket max, plus the prescription co-pays as well as any other medical expenses. The HSA is truly a capped benefit.
- Just like health coverage, dental coverage is available to all full and part-time employees working at least 30 hours per week. Your eligibility will begin on the 1st of the month following 30 days of employment. MetLife is our dental provider and has a network of dentists nationwide. To see if your dentist is a MetLife provider, visit www.metlife.com/dental.
- Here is a sample of what is covered on the dental plan. More information can be found in your benefit packet that was mailed with your new hire paperwork. Keep in mind, if you do not elect dental coverage during your initial offering, there are plan limitations should you elect coverage at a later date. Again, you can find this information in the benefit packet you received.
- Disability insurance is an important consideration. No one can foresee an accident or illness that may take them out of the workforce for a short or an indefinite time. Short-term and long-term disability will replace 66% of your gross income, up to weekly defined maximums, should the need arise. In your benefit packet you received, there should be a worksheet specifically based your salary and age which will define your weekly benefit and the cost per pay. If you cannot find this worksheet, please contact Sherri Martin at (800) 526-0594 ext. 4131 or via e-mail, smartin@uasi-qc.com.
- UASI offers a basic life insurance policy to all full and part-time employees working at 30 hours per week. This $15,000 policy is only $1.00 per pay and is available on the 1st of the month following 30 days of employment. Should you elect not to take part in this benefit and wish to do so at a later date, it will be necessary for you to complete a statement of health form before enrolling.
- Looking for additional life insurance coverage? UASI offers a voluntary life insurance plan, also through MetLife. At the time of your initial offering, the guarantee issue amounts are Employee - $100,000 Spouse - $25,000 Child/ren - $10,000 Any amounts above the guaranteed issue are subject to the completion of the Statement of Health. Also, should you waive coverage at the initial offering, any subsequent elections will be subject to the completion of the Statement of Health. There is a calculation sheet in your benefit packet and premiums are rated based on the employees age.
- As with health and dental coverages, vision coverage is available to all full and part-time employees working at least 30 hours per week. Your eligibility will begin on the 1st of the month following 30 days of employment. EyeMed is our vision provider and has a network of suppliers nationwide. To see if your vision professional is an EyeMed provider, visit www.enrollwitheyemed.com and choose “Select” for a list.
- The EyeMed SELECT plan allow you to improve your health through a routine eye exam, while saving you money on your eye care purchases. The plan is available through thousands of provider locations participating on the EyeMed SELECT network. The chart on the slide is just a sample of the services provided with the plan. More information can be found in your benefit packet.
- UASI is pleased to provide you with a retirement program that will help in securing your financial future. With the assistance of our plan's fund manager, Fidelity Investments, you will be on your way to maximizing your investments. Fidelity Investments offers our participants numerous investment options, ranging from conservative to aggressive. This provides you with the means to customize your investments based on your personal needs. David Lange from Merrill Lynch is available to explain your investment options and assist you with your elections. You may contact him at (800) 234-2099 or david_lange@ml.com.
- FlexSystem is an Section 125 Cafeteria Plan that enables employees to pay for eligible expenses on a pre-tax basis – an instant savings of nearly 30% for the you! Employees are able to enroll in the plan once a year during company open enrollment period. Qualified expenses must be completed from January to December...remember, this is a “use it or lose it” plan.
- We hope you found this orientation presentation to be informative. Should you have any questions, please do not hesitate to contact Holly Saylor or Sherri Martin at (800) 526-0594. For more information on UASI, please see the UASI New Hire Orientation – Company Overview on HRConnection.com. We truly hope your time with UASI is a long and rewarding experience. Thank you.