Your guide to Employee Benefits. 2015/2016 Revised 12/01/15

Transcription

1 Your guide to Employee Benefits 2015/2016 Revised 12/01/15

2 Welcome to Raven Transport We are pleased to provide you and your family with a comprehensive benefits package that addresses your personal health, medical and financial well being. The Best Decisions... are based on information. Before making your benefit selections, you should lay the groundwork for making the right decision for you and your family. This booklet has been prepared to assist you in evaluating the coverage's available through the Raven Transport s. This guide is an overview of the benefit plan and should not be construed as the Summary Plan Description. For each coverage elected, you may request a Summary Plan Description from the Human Resource Department. If you are uncertain about any provisions specified in this guide, please contact the Human Resource Department as the insurance carrier contract will govern. Health Insurance Flexible Spending Account Dental Insurance Basic Life/AD&D and Supplemental Life Employee Assistance Plan (EAP) 401K Voluntary Short Term Disability Voluntary Plans Cancer, Accident Expense Disability Supplement, Vision 1

3 Benefit Plan Eligibility You and your dependents become eligible for Raven Transport Plan Benefits on the 91 st day following date of hire if actively working. You must work at least 30 hours per week to be eligible for benefits. After you become eligible for benefits, you will have an opportunity to change your benefits once each year during annual enrollment. The elections you make during this enrollment will be in effect until the anniversary of our plan each year. Your dependents include: Spouse Dependent children up to age of 26 Each year, during open enrollment, you will have an opportunity to make new benefit elections for the coming year. All eligible employees who wish to make any benefit changes must complete and return an enrollment form by the due date. If the cost for any coverage for which you are paying increases or decreases due to a change in the premium, the amount withheld from your paycheck will be automatically adjusted. Cafeteria Plan: You have the opportunity to pay for your medical and dental premiums on a pre-tax basis through our cafeteria plan. The IRS has established rules for your elections which dictate that once you have made your elections for a plan year, you may not change them until the next annual enrollment, unless a qualifying event occurs. Our insurance carriers must receive your enrollment forms within 30 days following the qualifying event. If you miss this opportunity to enroll within the 30 day period, you are required to wait until the next annual enrollment. A qualifying event includes any of the following family changes: Marriage Divorce, legal separation/reconciliation Birth or adoption of a child Death of a dependent Change in Spouse s employment status A change from part-time to full time employment or from full-time to part-time employment for either the employee or spouse The employee or spouse is taking unpaid leave of absence, or; There is a change in the work location for the employee For a complete explanation of the Cafeteria Plan and Flexible Benefit Plans, refer to pages 17 & 18. 2

4 Health Insurance Blue Cross/Blue Shield of Florida Customer Service (Florida residents only) (PPO) (Other than Florida Residents) Our health insurance plan is provided by Blue Cross/Blue Shield of Florida. You do not need to select a primary care physician to coordinate your care. This plan is an open access PPO plan. Under the PPO Plan, you will receive comprehensive medical benefits when you utilize the network-specified doctors. You do not need to select a Primary Care Physician with this plan. Out-of-network benefits are also provided at a reduced level of coverage. To receive the higher level of covered benefits for visits to Specialists, Therapists,and other physicians, you will need to utilize providers in the network. RAVEN TRANSPORT DUAL OPTION BUY UP PLAN BlueCross BlueShield of Florida Plan Self Funded CORE PLAN BlueCross BlueShield of Florida Plan Self Funded IN OUT IN OUT Individual CALENDAR YEAR DEDUCTIBLE (CYD) Family Aggregate (1) COINSURANCE % of Services Paid By Carrier / You OUT-OF-POCKET MAXIMUM Individual Family Aggregate OFFICE SERVICES Family Physician (PCP) Specialist Urgent Care Tiered Program PRESCRIPTIONS Mail Order (90 day supply) Traditional Family Deductible Traditional Family Deductible $1,000 $2,000 $2,000 $4,000 $2,000 $4,000 $4,000 $8,000 85% / 15% 50% / 50% 75% / 25% 50% / 50% Does not include CYD, Hospital PAD, or Copayments Does not include CYD, Hospital PAD, or Copayments $4,000 $8,000 $5,000 $10,000 $8,000 $16,000 $10,000 $20,000 $25 CYD + 50% $35 CYD + 50% $35 CYD + 50% CYD + 25% CYD + 50% $35 CYD + 50% $35 CYD + 50% $25 /$50 / $75 50% $25 /$50 / $75 50% 2x copay N/A 2x copay N/A Out of Network Benefits could be subject to balance billing by the provider. This is a summary of benefits only and is not intended to be a complete outline of the illustrated plans contractual provisions 3

5 Medical Insurance Cost to You You will receive an Identification card that lists your member ID number and important contact information. The figures below reflect the weekly cost to you for covering yourself and family members for medical coverage that are deducted on a pre-tax basis. CORE PLAN Employee Cost Per Week Raven's Cost Per Week Total Monthly Rate Employee Only $ $ $ Employee & Child/Children $ $ Employee & Family $ $ $ 1, BUY-UP PLAN Employee Cost Per Week Raven's Cost Per Week Total Monthly Rate Employee Only $ $ $ Employee & Child/Children $ $ Employee & Family $ $ $ 1,

6 Dental Insurance Dental expenses may be one of the most predictable expenses you have. Before you elect dental coverage, you may want to consider the following questions: What dental expenses do I know that either my family or I will have each year? Do I, or does my spouse have coverage elsewhere? (If so, then the same coordination considerations apply as under medical). Florida Combined Life Customer Service , option 2 Blue Dental Choice All full time employees working 32 hours or more, and who meet the eligibility requirements, may enroll in the MetLife Dental Plan. As with the medical plan, once you make your dental plan selection, any plan changes would be allowed only during the annual open enrollment period, unless a qualifying event takes place. By utilizing a dentist from the MetLife participating provider network you receive, greater benefits at negotiated fees, no balance billing above usual and customary, and assignment of benefits (you do not need to pay and wait for reimbursement). However, you can still go to a non-network dentist and receive comprehensive dental benefits. Employer Sponsored Dental (Not an exhaustive listing. Call for all coverages) Class Description All Active Full Time Employees (30 Hours) In-Network Out-of-Network Reimbursement Negotiated Fee Schedule 100% MAC (per ZipCode) Type A Preventive 100% 100% Type B Basic 80% 80% Type C Major 50% 50% Calendar Year Deductible applies to : Individual $50.00 $50.00 Family $ Aggregate $ Aggregate Calendar Year Deductible Maximum (applies to A, B, C services) Orthodontia 50% 50% Orthodontia Lifetime Max $ $ *Out of Network benefits are payable for services rendered by a dentist who is not a participating provider. the Reasonable and Customary charge is based on the lowest of the (1) the dentist s actual charge (the Actual Charge ), (2) the dentist s usual charge for the same or similar services (the usual Charge ) or (3) the charge of most dentists in the same geographic area for the same or similar services as determined by Florida Calendar Combined year Life (the maximum Customary Charge ). benefits Services are must $1,000 be necessary in terms of generally accepted dental standards. 5

7 Dental Insurance Cost to You The figures below reflect the weekly cost to you for covering yourself and family members for dental coverage. DENTAL PLANS Weekly Cost To You Employee Only $2.00 Employee & Family $8.50 6

8 Basic Life, AD&D Insurance SYMETRA Customer Service Basic Group Life and AD & D Insurance If you meet the eligibility requirements, Raven Transport provides you with life insurance equal to one times your annual earnings, rounded to the next higher $1,000 with a cap of $30,000. Our life insurance plan is insured by SYMETRA. The Guarantee Issue amount for this coverage is $30,000. On the first day of the month following your 65 th, 70 th and/or 75 th birthday, this benefit reduces to the percentages indicated in the chart below: Attained Age Percent 65 65% This Basic Life Insurance can be converted % 75 25% The basic life and accidental death & dismemberment benefit is paid for ENTIRELY by Raven Transport 7

9 Supplemental Life Insurance SYMETRA Customer Service Supplemental Life Insurance In addition to Basic Life and AD&D, if you meet the eligibility requirements, Raven Transport provides you with the opportunity to purchase supplemental life insurance. The Minimum Benefit election is $10, but you may elect additional benefits, in $10, increments, to a Maximum of $130,000. This guarantee issue supplemental life insurance plan is insured by SYMETRA. The maximum amount of coverage is $130, for applicants less than age 65. For those above the age of 65, coverage is as follows: 65-69=$84,500, for ages 70-74=$65,000 and for age 75, $32, Spouse s maximum guaranteed insurability is $30,000. Note: Guarantee issue is only available when first eligible. On the first day of the month following the day you attain the age of 65, 70 & 75, this benefit reduces to the percentages indicated in the chart below: Attained Age: Percent 65 65% 70 50% 75 25% You may also purchase... Supplemental Family Life Insurance Benefit Dependent Spouse: Minimum Benefit of $5,000. Benefits may be elected in $5,000 increments to the maximum of $30,000. Guarantee Issue amount is 50% of Employee s benefit, up to $30,000. Dependent Children: $250 for age 14 days to 6 Months. $10,000 for 6 Months to Age 21; 25 if Full Time Student. Dependent Spouse and/or Child coverage is only available if the Employee has coverage under this plan. Spouse coverage terminates at age 70. Life Insurance coverage for your eligible dependents may be delayed if they are confined (at home, in a hospital, or in any other institution or facility) or disabled on the date the insurance would otherwise begin, in accordance with the terms of the policy. The supplemental life insurance benefit is paid for entirely by the employee. 8

10 Supplemental Life Insurance All full time employees who meet Raven Transport requirements, may elect to enroll in Supplemental Life Insurance for themselves and/or their dependents. The employee pays 100% of the premium rates as follows: Rates Rates Per $1000/Monthly Rates Per $1000/Monthly Age* Employee/Spouse*** Child*** 0-24 $ $ $ $ $ $ $ $1.08 $5000 = $1.35 Or $10,000 = $ $ $ ** $ $6.82 Rate category changes will take place on the anniversary of the policy. ** Dependent Spouse coverage will terminate at the Spouse s age of 70. *** Life insurance coverage for my eligible dependent(s) may be delayed if they are confined (at home, in a hospital, or in any other institution or facility) or disabled on the date insurance would otherwise begin, in accordance with the terms of the policy. 9

11 Vision Insurance VSP The Plan Highlights: Signature Choice Plan BENEFIT VSP NETWORK DOCTOR* NON-VSP PROVIDER WellVision Exam Covered in full Reimbursed up to $34.00 Single Vision Lenses Covered in full Reimbursed up to $17.00 Bifocal Lenses Covered in full Reimbursed up to $30.00 Trifocal Lenses Covered in full Reimbursed up to $43.00 Lenticular Lenses Covered in full Reimbursed up to $64.00 Frame Covered up to $ allowance ($50.00 wholesale) Reimbursed up to $38.25 The cost of enrolling in the Vision Plan is paid entirely by the employee. SINGLE = $1.63 FAMILY = $3.51 Rates are per week. Contact Lens Services and Materials: Elective (instead of glasses) Covered up to $ (includes contact lens services and materials) Reimbursed up to $ Necessary Covered in full Reimbursed up to $ * When covered in full services are obtained from a VSP Choice Network doctor, the patient will have no out-of-pocket expense other than any applicable copays. Benefit WellVision Exam Lenses Benefit Highlights Thorough eye exams can detect symptoms of serious eye conditions and health conditions, like diabetes and high cholesterol. In addition to covered in full glass or plastic lenses, VSP Choice Network doctors provide members with a 20% discount off their normal fees on all lens options. Members also receive a 20% discount on additional pairs of prescription and non-prescription glasses, including sunglasses. Plus, dependent children of members are eligible for covered in full polycarbonate lenses. Frames To ensure our members get the best value, our retail frame allowances are backed by a guaranteed wholesale allowance. This means the member receives the same value no matter which VSP Choice Network doctor they visit. Members also receive 20% off any amount exceeding their allowance. Contact Lenses VSP Choice Network doctors provide a 15% discount off their contact lens services. Plus, current soft contact lens wearers may qualify for a covered in full contact lens evaluation and initial supply of approved replacement lenses, when provided by a VSP Choice Network doctor. With pre-approval from VSP, medically necessary contact lenses are covered in full from a VSP Choice Network doctor. Laser VisionCare Program SM Low Vision VSP contracted laser centers provide discounts for laser surgery, including PRK, LASIK and Custom LASIK.* Discounts average 15% off or 5% off if the laser center is offering a promotional price. Low vision is vision loss sufficient enough to prevent reading and performing daily activities. With pre-approval from VSP, low vision supplemental testing is covered every 2 years. VSP will pay 75% of the cost for approved low vision aids, up to the maximum of $1,000 (less any amount paid for supplemental testing) per member every 2 years. Primary EyeCare Exclusions and Limitations VSP Choice Network doctors provide supplemental medical coverage for specialty eyecare services and conditions, such as pink eye, and other urgent eyecare needs. Members can see their VSP doctor without a referral, as often as needed. A $5.00 copay applies for each visit. There may be some materials and services with either limited or no coverage under this plan. Please contact your VSP representative for more information. * Custom LASIK coverage only available using wavefront technology with the microkeratome surgical device. Other LASIK procedures may be performed at an additional cost to the member. 10

12 Short Term Disability Florida Combined Life Customer Service , option 4 We understand that for most of us our income is the most important financial resource. To be without income for an extended period of time would most likely be devastating for you and your family. Raven Transport recognizes the importance of protecting your paycheck in the event of a disabling event, such as illness or accident, even on a short-term basis Short Term Disability Plan Costs The cost of your Short Term Disability Plan, $0.94 per $10.00 of covered weekly benefits, is entirely paid by the Employee and will provide benefits if you become disabled due to an illness or accident. STD Benefit Amount In the event that you become disabled off the job, Raven Transport Short Term Disability Plan will provide up to $500 per week (depending on the amount of insurance you purchase) beginning on the 15 th day for accident or sickness. Raven s Worker Compensation will provide protection for compensable on the job injuries. STD Benefit Period The Short Term Disability benefit has a maximum duration of 26 weeks. STD is portable Pre-Existing Condition limitation is applicable to this coverage. Namely, if you have received treatment for any condition three (3) months prior to the coverage effective date, you will need to be treatment-free for that condition for six (6) months from your effective date before benefits will be paid for the preexisting condition. 11

13 Employee Assistance Plan Horizon Health (888) Raven Transport s Employee Assistance Program (EAP) provides employees and their families with short-term confidential assistance for personal problems. You are encouraged to use this voluntary program to improve your quality of life. This service is provided at no cost to you and your family. EAP can help you with: Workplace Problems Financial Troubles Family Communications Stress Alcohol or Drug Problems Emotional/Psychological Stress Legal Issues Coping with Grief or Loss To set up an appointment, simply call the number listed above at any time, any day. A professionally qualified counselor will assist you. Or, you may review the plan brochure for more information. The first six visits are provided at no cost; subsequent visits will be integrated with your Health Insurance 12

14 FSA Flexible Spending Account First Trust of Mid America (816) or (888) Flexible Spending Accounts are a way of making pre-tax payroll deductions for either dependent care or non-reimbursable health expenses. The Flexible Spending Account allows you to increase your spendable income! Medical Expense Account: You may use this FBP for non-reimbursable medical related expenses...for example: deductibles, co-pays, dental and orthodontia, vision, hearing, etc.) You may designate up to $1,500 annually in this account. The Medical Expense account may not be used for expenses which are reimbursable by your insurance or other means. Dependent Care Account: The plan will reimburse you for dependent care expenses if it is necessary for you to work. The services may either take place in or outside your home, but only for: dependents under the age of thirteen; children thirteen or older who are mentally or physically incapable of self-care; dependent adults. The limit for this account is $5,000 per year if filing a joint return and $2,500 if separate returns are filed. The Internal Revenue Service has set up specific guidelines that govern FSA plans: Once you elect to participate in a spending account, you must continue to participate throughout the year unless you have a lifestyle change. If you do not use the money set aside in your spending account by the end of calendar year, you will forfeit those dollars. Please be conservative in your estimates. 13

15 ???? Section 125 Plan Questions and Answers What is the purpose of the Section 125 Plan? A Section 125 Plan will enable you to pay your portion of the premium for medical, dental, vision coverages on a pre-tax basis. Without the Section 125 plan, your contributions for this coverage would come out of your pay after it had been subject to Income, Social Security and Medicare taxes. How do I participate in the Section 125 Plan? Participation in the Section 125 Plan is automatic. If for some reason you do not wish to participate, you will need to complete a form provided by Raven Transport. Who is eligible to participate in the Section 125 Plan? All full time employees of Raven Transport who are eligible for coverage under Raven s insurance plans are eligibleto participate in the Section 125 Plan. How will participation in the Section 125 Plan affect my income taxes? Premiums for these plans will be made on a pre-tax basis and the Form W-2 that you receive after the end of each year will list less taxable wages than if you did not participate in the Section 125 Plan. As a result of participating in the Section 125 Plan, your income taxes will be reduced. How will participation in the Section 125 Plan affect my Social Security taxes? Premiums for coverage under the Section 125 Plan will not be subject to Social Security taxes. As a result of participating in the Section 125 Plan, your social security taxes will also be reduced. Will my Social Security benefits be affected by participation in the Section 125 Plan? Because your Social Security benefits are a function of your taxable wages, participation in the Section 125 Plan ultimately may result in a reduction of your Social Security retirement benefits. Each employee s circumstances are different when it comes to calculating Social Security retirement benefits, which take into account factors such as age, employment history, wage history, etc. For detailed information as to how participation in the Section 125 Plan will affect your Social Security retirement benefits, we suggest that you contact the local Social Security Administration office. If I elect to participate in the Section 125 Plan, may I change this election? Under strict IRS rules, an employee cannot change or revoke his or her election until the beginning of the next plan year (January 1) unless you experience a change in status such as death, marriage, divorce, birth or adoption of a child, termination or commencement of employment of spouse, open enrollment of spouse s coverage, change of residence if it affects health benefits, eligibility of Medicare or Medicaid, etc. Contact Human Resources if you think you have such a change in status. 14

16 Your 401(k) Retirement Plan SunTrust Bank (888) (k) Overview Each individual employee contributes daily to make Raven Transport a success. In recognition of your efforts and dedication, we would like to reward you on a long term basis by providing a program which will contribute to your personal success as you reach retirement. The Raven Transport 401(k) Retirement Plan is one way to contribute towards your retirement and delay paying taxes on income being earned now. The fundamental principal of a retirement plan is to allow you to contribute a portion of your salary towards a retirement-income plan. Because this contribution goes directly into the Plan and is not received by you as a salary, it is not subject to current State and/or Federal income tax. The earnings are also tax deferred. This allows you to lower your taxable income and the amount of federal income tax you pay. The resulting tax reduction means that, compared to traditional after-tax methods, this is a less expensive way to increase your retirement income fund. You may contribute from 1% to 25% of your salary, not to exceed IRS annual limit. Refer to your Summary Plan Description for more details. 15

17 Your 401(k) Retirement Plan Eligibility and Plan Participation You are eligible to join your Retirement Plan if you are at least 21 years old and have completed one (1) hour of service. Employees are eligible to participate in the 401(k) plan on the first day of the new quarter following your employment and are eligible for the company match on the January 1 st, April 1 st, July 1 st or October 1 st following one year of employment. The maximum contribution is twenty five percent (25%) of your gross income. Raven will match your contributions at fifty percent (50%) up to six percent (6%) of your gross income. This employer matching contribution is made at the end of each month. Details of this plan are outlined in the Plan Description that is available through the Human Resources Department. 24-Hour Account Access You can access information about your account 24 hours a day, seven days a week. By calling , you can obtain account balances, change investment options, request account statements and speak to a representative (during normal business hours). Your social security number and PIN# (personal identification number) is required to access your account.. Internet Access You may access your account on-line. The Website, contains a wealth of information to help you learn more about the importance of retirement planning. You can even use the Retirement Game to help you with your retirement planning calculations. Vesting Schedule The term vesting refers to your right to receive future or present benefits and your non-forfeitable ownership of these rights. You are always 100% vested in the contributions you make to your account as well as any direct rollovers that you may make to the Plan plus any earnings that they generate through Plan investments. For members before 2002, the Raven Transport contributions previously made to your account are vested according to the following schedule: Years of Service Vested Interest 2 20% 3 40% 4 60% 5 80% 6 100% Loans Your Retirement Plan allows you to borrow from your vested account balance (one loan per calendar year and no more than two outstanding loans at any time). The minimum amount you may borrow is $1,000. The maximum amount you may borrow is 50% of your vested interest not to exceed $50,000. You must repay your loan via payroll deduction within a period of five (5) years (10 years for the purchase of a primary residence). If the loan is approved, your account must be pledged as security. Each loan will bear interest at the prime rate in effect when the loan is made. The interest you pay on a loan will be credited directly to your own account. 16

18 AFLAC Payroll Deduction Plans AFLAC Customer Service AFLAC AFLAC provides several benefit enhancement alternatives allowing you the opportunity of customizing your benefit program. These plans, which are paid for by the employee, include: Cancer Insurance: This plan provides coverage for unplanned expenses associated with cancer, that may not be covered by your health insurance. Benefits include: Wellness cancer/screening Initial diagnosis Hospital Radiation/chemotherapy Travel expenses Personal Hospital Intensive Care Insurance: Pays for up to 15 days of confinement in specified intensive care units. Some additional benefits: Up to total of 15 days when confined in a sub-acute intensive care unit Benefits paid directly to insured, unless assigned Benefits paid regardless of other insurance Personal Accident Expense Plan: Pays Accidental-Death, Dismemberment, Injury & Disability Benefits. Disability benefits are available for the named insured in the form of a rider. Some important benefits: Accident emergency treatment Accidental-Death Benefit Initial accident hospitalization Wellness benefit Accident hospital confinement Optional Disability Income Benefit Rider available Accident specific-sum injuries benefit Hospital Indemnity Insurance: Pays a benefit for a required hospital confinemet of 14 or more hours. Some of the features are as follows: Daily benefit for up to 180 days Additional benefits for a short stay, rehabilitation unit, specific diagnosis and ambulance No lifetime maximum Disability Insurance: Provides Short Term Disability benefits to replace a portion of your income if you are unable to work due to a covered accident or illness. This would Supplement the current STD benefit supplied and paid for by Raven Transport. Cost varies based on plan selected. Options are available for both employee and family. Note - These products are offered as a service to our employees and their families and are in no way affiliated with Raven Transport. Please see brochures for details on all plans. 17

19 Personal Leave Holidays (More information can be found in the Employee Handbook) Employees become eligible for paid holidays after obtaining full-time status, and providing they work or are available to work the regularly assigned day immediately preceding and following the holiday, as scheduled. New Years Day Memorial Day Independence Day Labor Day Thanksgiving Day Christmas Day Vacation (More information can be found in the Employee Handbook) Earned vacation is based on your anniversary date. Regular, full-time employees earn vacation leave as follows: Completion of 1st year of employment: 1 Week (40 hours) Completion of your 2nd, 3rd & 4th year of employment: 2 Weeks (80 hours) Completion of your 5th year of employment: 3 Weeks (120 hours) Personal Leave (More information can be found in the Employee Handbook) Full-time employees will accrue three days(24 hours) per year, based on a calendar year. These hours can be accumulated to a maximum of nine days. Personal days are paid in the same manner as holiday pay and cannot be used in conjunction with vacation or holidays. LIQUID MEDICINE TABLETS Bereavement Leave (More information can be found in the Employee Handbook) Employees can take three days (72 hours) of compensated (paid in the same manner as holiday pay) bereavement leave immediately following the death of a spouse, parent, grandparent, son, daughter, brother, sister or grandchild of the employee. 18