Your 2018 Benefits Overview. Benefits You Can Count On

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1 Benefits You Can Count On Athene is committed to providing employees with a benefits program that is both comprehensive and competitive. Our benefits program offers health coverage and financial security to our employees and their families. Your 2018 Benefits Overview X1865 (10/17)

2 Purpose The purpose of this overview is to provide highlights of the Athene Benefits Program. The information contained in this summary should in no way be construed as a guarantee of employment. Athene reserves the right to modify, amend, suspend or terminate any plan or provision at any time for any reason. If there is a conflict between the information contained here and the actual plan documents or policies, the plan documents or policies will always govern. Details, changes and definition of terms used in this overview can be obtained by reviewing current descriptions and/or policies. It s important you understand the benefits provided to you by Athene. This document is not intended to constitute a Summary Plan Description (SPD) under ERISA. For specific details about your eligibility for benefits, coverage and limitations under the various plans, and your responsibilities please review the SPDs. The offering of securities under the Athene Holding Ltd Employee Stock Purchase Plan will be made solely by means of the prospectus forming part of the registration statement on Form S-8 of Athene Holding Ltd. ( Athene ) filed with the Securities and Exchange Commission on July 19, Investing in Athene s common shares involves risk, including risk of loss. Please see the prospectus and documents incorporated by reference therein for a description of the risks involved in making such an investment. Table of Contents Who s Eligible for Coverage? Enrollment Core Benefits Optional Benefits When Can Benefit Enrollment Changes Be Made? Core Benefits Basic Life Insurance Basic Accidental Death & Dismemberment.. 5 Holidays Short-term Disability Long-term Disability Family Care Leave and Parental Leave Employee Assistance Program Optional Benefits Before-tax and After-tax Contributions Medical and Prescription Drug Coverage... 7 PPO Networks Medical Plan Options Prescription Drug Coverage Your Safety Matters Specialty Rx Dental Summary Provider Networks Vision Summary Additional Vision Information Laser Vision Benefit Athene LiveWell Program Rates Transportation Management Account (TMA) Summary Health Savings Account (HSA) Summary IRS Definition of Dependent Flexible Spending Account (FSA) Summary How does a FSA Work? There Are Three Types of FSAs Expense Reimbursement Supplemental Life Insurance Coverage Dependent Life Insurance Voluntary Accidental Death & Dismemberment Savings & Retirement Tuition Assistance Employee Stock Purchase Plan (ESPP) Adoption Assistance Athene Policies, Procedures & Resources

3 Introducing the Athene Benefits Program Welcome to Athene! Who s Eligible for Coverage? All regular fulltime employees scheduled to work 30 or more hours per week are eligible for the benefits offered under the Athene Benefits Program as described in this overview. If you choose to participate in one of the Athene health plans (medical, dental and/or vision) you must cover yourself in order to cover a qualifying dependent. Eligible dependents for health coverage include your spouse/domestic partner and legally dependent children. Spouse includes opposite and same gender marriage. If your spouse/domestic partner or eligible adult child is also employed with Athene, he/she may not be covered as both an employee and a dependent. Domestic Partner Coverage Benefit contributions (medical, dental, and vision) for a domestic partner are made with aftertax deductions. Benefit contributions for domestic partner s child(ren) are made with after-tax deductions unless you also cover child(ren) who qualify as IRS tax dependents. The value of the benefit plan (e.g., employer contributions) is deemed taxable to the employee. Your dependent children are eligible for medical, dental, vision and supplemental life coverage up to age 26. Beyond age 26, your child can continue coverage if approved due to proven disabilities. Enrollment You may elect to carry different levels of coverage under medical, dental and/or visions plans (e.g., you may choose employee only for medical, employee and child(ren) for dental, and waive vision). Coverage you enroll in now is in effect for the remainder of the calendar year (or if enrolling during the annual open enrollment period, coverage is in effect for the following calendar year). You may not add or drop dependents during the year unless a qualifying family status change occurs (refer to the section on family status changes on the following page). Core Benefits Provide the basic levels of coverage that everyone needs, such as life and accident insurance, disability and leave programs. Basic Life Insurance Accidental Death & Dismemberment Short-Term Disability Long-Term Disability (regular full-time employees only) Employee Assistance Program Optional Benefits Action must be taken by you to elect participating in optional benefits. Optional benefits include: Medical (includes prescription drug coverage) Dental Vision Transportation Management Account Health Savings Account (HSA) Flexible Spending Accounts Supplemental, Spouse/Domestic Partner and Child(ren) Life Insurance Voluntary Accidental Death & Dismemberment (AD&D) Savings & Retirement Tuition & Adoption Assistance Family Care & Parental Leave Employee Stock Purchase Plan (ESPP) 3

4 When Can Benefit Enrollment Changes Be Made? You may make benefit changes during the annual benefits open enrollment period generally held each November. You may also make changes when a qualifying family status change occurs, which may permit you to elect/ drop benefits, change your coverage level, add or drop a dependent from your benefits, or change from one plan to another under limited circumstances. The request to change benefits due to a family status change is done through our system of record called Workday and must be completed within 31 days of the qualifying event. Documentation is required to support the qualifying event. Examples of qualifying events considered a family status change include (Please refer to the Cafeteria Plan & Medical Plan Summary Plan Descriptions for an all-inclusive list): Marriage Divorce Birth/adoption of a child Death of a spouse/domestic partner or dependent Loss/gain of your spouse s/domestic partner s coverage Loss/gain of a dependent for tax purposes Change of employment status by you or your spouse/domestic partner that affects eligibility for coverage (e.g., part-time to full-time or full-time to part-time). Note: Proof of good health may be required to add/increase additional life insurance coverage under any of these circumstances. 4

5 Core Benefits Basic Life Insurance Provided for all regular full-time employees on the first day of the month, coinciding with or following hire date. Coverage is equal to the greater of 100% of an employee s annual base pay rounded up to the next $1,000. Minimum coverage is $50,000; maximum coverage is 5 times your salary not to exceed $500,000. Coverage levels reduce to 65% at age 65 and 50% at age 70. Note: Employees eligible to participate in the sales and distribution variable compensation plan will have coverage based on a benefits salary ; rather than annual base pay. Basic life insurance coverage includes a living benefit. If diagnosed with a terminal illness, employees may request up to 80% of their basic life insurance death benefit (maximum limits may apply). Basic Accidental Death & Dismemberment In addition to basic life insurance coverage, regular full-time employees are provided with accidental death and dismemberment (AD&D) insurance equal to the greater of 100% of an employee s annual base pay rounded up to the next $1,000, not to exceed $500,000. Minimum coverage is $50,000. In the event of accidental death, loss of a limb, or other types of dismemberment resulting from an accident, you or your beneficiary is entitled to a benefit equal to the basic AD&D coverage or a scheduled portion thereof (based on loss). AD&D coverage is effective the first day of the month, coinciding with or following your hire date. Like basic life insurance, coverage reduces to 65% at age 65 and 50% at age 70. Note: Employees eligible to participate in the sales and distribution variable compensation plan will have coverage based on a benefits salary ; rather than annual base pay. Holidays Athene provides nine fixed holidays* during each calendar year. The dates observed as holidays vary each year based on the day of the week the holiday occurs. If a holiday occurs on Saturday, it will be observed the preceding Friday. If a holiday occurs on a Sunday, the holiday will be observed the following Monday. * Each fixed holiday is based on an 8-hour day for full-time employees (pro-rated for part-time employees),and assumes an employee is employed for a full year to qualify for a total of nine holidays. Short-term Disability Regular full-time employees are eligible for short-term disability benefits the first of the month following 90 days of employment. A physician-approved absence of eight or more consecutive calendar days may be considered shortterm disability (STD). If approved, disability benefits will begin on the eighth day after seven consecutive calendar days of sustained illness or injury. You are required to use 40 hours of paid time off (PTO) to receive pay for the benefit waiting period (the seven days preceding STD commencement). See the PTO policy for more information. If on approved STD leave, you will receive income replacement equal to 60%-100% of your base salary* based on years of service and duration of leave. If you are receiving reduced pay, you also have the option to use PTO to supplement STD benefits to receive a higher level of pay during your leave. * Income replacement is provided in compliance with state regulations, if applicable. Note: Work-related injuries are not covered under short-term disability but rather under workers compensation, covered later in this booklet. 5

6 Please access the Employee Guide to Leave of Absence on the intranet or contact to initiate a disability leave claim at least 30 days before your scheduled leave is to begin. If a 30-day advance notice is not possible, please notify both your leader and STDLTD@athene.com the same day or the day following your need for leave of absence. Note: Once you meet the FMLA eligibility requirement, approved FMLA will run concurrently with short-term disability and workers compensation. Long-term Disability Regular full-time employees are eligible for long-term disability (LTD) coverage on the first of the month following date of hire. Benefits are effective only after submission and approval of a disability application by the plan insurer and upon exhaustion of short-term disability benefits. Benefits may continue to age 65 or later, depending upon age at the time of the disability and its duration Provides 60% of annual base pay Minimum monthly benefit is $100 Maximum monthly benefit is $15,000 Note: Employees eligible to participate in the sales and distribution variable compensation plan will have coverage based on a benefits salary ; rather than annual base pay. Total income for this benefit, combined with all other sources, including Social Security disability benefits, cannot exceed 60% of annual base pay. You may elect to pay taxes on the LTD premium now, which exempts future disability income, if applicable, from income tax withholding. You may elect not to pay taxes on the LTD premium now, which will subject any future disability income, if applicable, to income taxes. This election is made at the time of initial benefit enrollment and may be changed during an annual benefits open enrollment period. Employee Assistance Program Athene offers a resource called Ability Assist, to provide you with professional support with everyday issues such as job pressures, relationships, retirement planning, etc. You and your family members have a number of services available to you at no cost. Counseling is available for personal, family and work-life issues, as well as legal and financial counseling to assist you with debt or bankruptcy, managing a budget, buying a home, to name a few. Three face-to-face counseling sessions are offered, per occurrence, per year. You and your family members do not have to share visits. Each individual can get counseling help for his/her own unique needs.more information is available at: Family Care Leave Athene Family Care leave provides eligible employees with five consecutive business days of pay (60% of base pay) to care for a family member with a serious health condition. To be eligible you must be a full-time employee actively working on the date leave begins, continuously employed for 12 consecutive months prior to the start of leave, and have available FMLA which runs concurrently with Family Care Leave. Certification from your family member s physician and approval from Human Resources is required. Family Care leave can be used one time in a rolling 12-month period and cannot be used intermittently. Parental Leave Athene Parental Leave provides eligible employees with five consecutive business days of pay (60% of base pay) to bond with a new child (birth or adoption) under the age of 18 years. Parental leave is available to birth and non-birth parents. To be eligible you must be a full-time employee actively working on the date leave begins, continuously employed for 12 consecutive months prior to the start of leave, and have available FMLA which runs concurrently with Parental Leave. This leave requires physician certification and approval from Human Resources. Parental leave can be used one time in a rolling 12-month period and cannot be used intermittently. Note: If you have questions about either Family Care Leave or Parental Leave, please contact STDLTD@athene.com. 6

7 Optional Benefits Before-tax and After-tax Contributions Most benefit options are paid for with before-tax dollars and contributions/premiums are deducted from your paycheck before taxes are taken out (including Medical, Dental, Vision, FSA and HSA contributions). If you elect to purchase additional life insurance, Accidental Death & Dismemberment, or cover a domestic partner for Medical, Dental or Vision coverage, these contributions/premiums will be paid with after-tax dollars. Medical and Prescription Drug Coverage The Athene Benefits Program provides regular fulltime employees and their qualifying dependents with two company-sponsored medical plan options. The medical plans are self-funded; this means Athene assumes the risk for health claims and administrative fees for all enrolled members. UMR, a subsidiary of United Healthcare, is responsible for processing claims, distributing membership cards and contracting with in-network physicians. The cost of coverage is shared between you and Athene. Specific coverage rates are shown within this overview. PPO Networks The United Healthcare Choice Plus PPO network is available nationwide for all employees. You are encouraged to visit to search the provider directory for physicians and hospitals within your service area. Medical Plan Options You have the opportunity to select a medical plan that best fits your unique individual or family needs. The medical plans available: $600 Deductible Plan $1,500 High Deductible Health Plan Additionally, you may enroll in coverage at one of the following levels, or waive coverage altogether, based on your personal needs. Employee only Employee and spouse/domestic partner Employee and dependent child(ren) Family Your UMR health ID card reflects your coverage under the medical, prescription drug and vision plans if enrolled. Your dependents names will be listed on the card; additional cards can also be ordered from UMR. The following comparison highlights the medical plans offered to employees, but is not all-inclusive of the provisions or limitations that apply to your Medical and Prescription Drug coverage. For complete coverage details, refer to the Summary Plan Description on the AtheneShare site. 7

8 Medical Expense Coverage $600 Deductible Health Plan High Deductible Health Plan In-network Out-of-network In-network Out-of-network Lifetime Maximum Payment Calendar Year Deductible Single Family The Deductible applies each calendar year. $600 Single $1,200 Family Unlimited $1,200 Single $2,400 Family Each member must meet the Single Deductible amount before the Plan begins to pay coinsurance. For satisfaction of the Family Deductible, no more than one single deductible will apply per member. $1,500 Single $3,000 Family Unlimited $3,000 Single $6,000 Family The Single Deductible applies if employee only coverage is elected. If you cover more than yourself, the family Deductible must be satisfied before the plan begins paying coinsurance for any family member. Out-of-Pocket Maximums (includes Deductible) Single Family $2,500 Single $5,000 Family $5,000 Single $10,000 Family $3,500 Single $6,550 Family $7,000 Single $13,100 Family $600 Plan-Out-of-Pocket: Each family member will pay no more than $2,500 for Covered Expenses (using in-network providers). HDHP Out-of-Pocket: One Family member can satisfy the family out-of-pocket of $6,550 for Covered Expenses (using in-network providers). If the amount you pay for Covered Expenses in any one calendar year reaches the Out-of-Pocket Maximum shown under each plan, eligible expenses will be payable at 100%. Acupuncture/ Acupressure Treatment Plan pays 80%* Allergy injections and serum Plan pays 80%* Plan pays 60%* Ambulance Services for Medical Emergency Anesthesia Birthing Center Chemotherapy and Radiation Therapy** *Deductible is waived ** Prior-authorization is required for some chemotherapy and radiology therapy. Please contact UMR at , prior to services. 8

9 $600 Deductible Health Plan High Deductible Health Plan In-network Out-of-network In-network Out-of-network Chiropractic/Spinal Manipulation Services Plan pays 80%* Not covered Not covered Clinical Trial Participation (Routine patient care) Please contact UMR prior to participation. Durable Medical Equipment Emergency Room Services for Medical Emergency (Includes facility and physician charges) You pay $150, * Your payment is waived if patient is admitted to the hospital Home Health Care Services Limited to 120 visits per calendar year. Hospice Care Services Inpatient and Outpatient Hospital Services (including Physician Visits) International Services (provided outside of the U.S.) Services will be paid at the in-network level of benefits for emergency services only (to include Urgent Care) Maternity Services (prenatal and postnatal care from a Physician) Mental Health, Substance Abuse and Chemical Dependency Inpatient Hospital and Physician Services Office Visit Plan pays 80%* Outpatient Hospital and Physician Services You pay the Deductible, then Plan pays 80% *Deductible is waived 9

10 $600 Deductible Health Plan High Deductible Health Plan In-network Out-of-network In-network Out-of-network Nursing Facility Confinement Maximum of 120 days per calendar year Occupational, Physical, and Speech Therapy Outpatient Surgery and Ambulatory Surgery Center Physician Visit Charges Primary Care Physician (PCP) Specialist Plan pays 80%* Prescription Drugs See the Prescription Drug Plan administered by OptumRx Preventive Care Includes services such as: Preventive Services Physical Exams Preventive Gynecological Exams Flu Shots Preventive Colonoscopies Preventive Mammograms & Breast Exams** Well Child Care Immunizations Preventive Diagnostic Tests, and associated Lab & X-Rays Plan pays 100% Plan pays 100% Regenexx Orthopedic Treatments Treatment uses injections of patient s adult stem cells or blood platelets Providers not a part of the Regenexx national network are not covered Plan pays 80% *Deductible is waived ** 3D or 2D mammograms are covered 10

11 $600 Deductible Health Plan High Deductible Health Plan In-network Out-of-network In-network Out-of-network Urgent Care Center Plan pays 80%* Vision Exams/Visual Analysis, including eye refractions No Benefit see vision plan Weight Loss or Weight Reduction Surgery must meet Claims Administrator s clinical criteria Limited to one surgery per lifetime No Benefit X-ray and Laboratory Services (not part of preventive care)** Hospital Services Office/Clinic Services Plan pays 80%* *Deductible is waived ** Prior-authorization is required for some chemotherapy and radiology therapy. Please contact UMR at , prior to services. Note: All medical co-pays, coinsurance, and deductibles apply to the medical out of pocket. 11

12 Prescription Drug Coverage Athene offers prescription drug coverage through OptumRx under the PPO and HDHP medical plans. The PPO Plan has a prescription drug out-of-pocket maximum of $2,000 if you elect single coverage and $4,000 if you elect family coverage for any drugs purchased, separate from the medical plan out-of-pocket. Therefore, out-of-pocket expenses for each member will be no higher than $4,500 ($2,500/member medical plan out-of-pocket plus $2,000/member prescription drug out-of-pocket). The HDHP Plan has one combined out-of-pocket maximum for medical services and prescription drugs. Both medical plans include: Mandatory Generic Drug Program this requires a generic drug be used if available unless determined medically inappropriate; you or your physician must appeal before a waiver of the requirement will be granted. Step Therapy Program This program requires plan participants to complete a three step process before certain drugs can be used. When you take your prescription to the pharmacy, the OptumRx system will automatically screen the medication. If your prior pharmacy claims show you have tried a Step 1 medication in the recent past, the Step 2 medication may be processed. If not, the pharmacist will contact your doctor for further explanation. There are some drugs that require three steps before a medication is covered. We encourage you to discuss your treatment and medication options with your doctor. If you have questions about the Step Therapy program, please call: Mail Order Select Program Many prescriptions are available through mail order, which offers: Savings to you a 90 day supply has the same coinsurance as a 60 day supply at your retail pharmacy. Convenience OptumRx will remind you when it s time to reorder by phone, text message, or . A mobile app is also available for you to monitor and track the status of refills. You will have up to two fills at your retail pharmacy before action is required from you. You can either opt out of the mail service program or opt in. If you don t take action, you may pay 100% of the cost of your medication until you make a decision. Once in the mail order program, you are free to opt out at any time. You can also establish mail order by calling OptumRx at or at OptumRX Enhanced Prescription Drug List the Athene prescription drug plan uses an enhanced formulary (drug list), which identifies the drugs available for certain conditions and organizes them into cost levels, also known as tiers: Tier 1 lower cost; commonly used generic drugs and some low-cost brand name drugs Tier 2 mid-range cost; common brand name drugs, called preferred brands Tier 3 highest cost; higher cost brand drugs also known as non-preferred brands An important part of the formulary is providing you choices to discuss with your doctor, and selecting the best course of treatment for you. Since the formulary may change, please visit the website: or call for the current approved drug cost. The UMR health ID card is used to prove eligibility for prescription drug benefits at participating OptumRx pharmacies. Please contact your local pharmacy to determine if it is part of the network, or visit and use the Locate a Pharmacy tool. Your Safety Matters Each time you receive a prescription from a participating pharmacy, OptumRx will check the personal drug profile for possible drug interactions, allergic reactions or other safety concerns. If there is a potential problem, OptumRx will advise the pharmacist. Bulk Compound Medication Exclusion Select non-fda approved bulk chemicals used in compounds will be excluded to minimize safety concerns, drug efficacy and potential waste of healthcare dollars. If you have questions regarding this change, please contact UMR. 12

13 Prescription Drug Coverage Administered By OptumRx $600 Deductible Health Plan High Deductible Health Plan Retail Drugs (30 day supply) Mail Service Drugs (90 day supply) Retail Drugs (30 day supply) Mail Service Drugs (90 day supply) Deductible Not applicable Member Pharmacy Member Pays Member Pays Generic Drugs 10% coinsurance to a maximum of $10 10% coinsurance to a maximum of $20 Please see Medical Plan under Prescription Drugs Preferred Brand Name Drugs 20% coinsurance to a maximum of $50 20% coinsurance to a maximum of $100 Non-Preferred Brand Name Drugs 30% coinsurance to a maximum of $100 30% coinsurance to a maximum of $200 Contraceptive drugs and devices (with a physician prescription) No cost to Member No cost to Member No cost to Member $600 Deductible Health Plan High Deductible Health Plan Retail Drugs (30 day supply) Mail Service Drugs (90 day supply) Retail Drugs (30 day supply) Mail Service Drugs (90 day supply) Specialty Prescription Drugs Out-of-Pocket Maximum Non Member Pharmacy Generic Drugs Member pays $50 plus 20% coinsurance per prescription, up to the Out-of-Pocket Maximum $2,000 Single / $4,000 Family Please see Medical Plan under Prescription Drugs Prescription Drugs Apply to the Medical Plan Out-of-Pocket Preferred Brand Name Drugs Non-Preferred Brand Name Drugs Contraceptive drugs and devices (with a physician prescription) You pay the retail cost in full and file a paper claim with the Claims Administrator Reimbursement will depend upon the type of drug Not covered You pay the retail cost in full and file a paper claim with the Claims Administrator Reimbursement will depend upon the type of drug Not covered Some vaccines, such as flu shots and the shingles vaccine, are available at a participating pharmacy at no cost to you. Some age requirements may apply. Please contact OptumRx at (855) to verify a vaccine is available at your pharmacy. Tobacco Cessation Products Prescription and over the counter tobacco cessation products will be covered as preventive services, meaning the health plan will pay 100% of the eligible product cost. Please contact UMR or OptumRx to confirm if the product is eligible as a preventive service. Specialty Rx Prescription drug benefits are enhanced to include a specialty program for high cost drugs used to treat chronic conditions (excludes routine injectable drugs such as insulin or migraine medications). This program features a separate mail facility specifically designed for the unique storage and dispensing requirements of these specialty medications, plus provides a toll-free phone line staffed by health care experts 24 hours a day, seven days a week to answer health-related questions. For additional information on the benefits of this program and how to use it, contact OptumRx at: (866) Note: Specialty prescription drugs administered by your physician or healthcare provider must be dispensed from the Optum Rx specialty pharmacy vendor (BriovaRX) to qualify as a plan benefit. 13

14 14 Dental Summary Athene offers dental coverage to regular full-time employees and their qualifying dependents to cover a variety of dental services. Delta Dental of Iowa administers the Athene Dental Plan. The dental plan is self-funded, which means that Athene assumes the risk for claims and administrative fees for all enrolled members. Delta Dental of Iowa serves as the third-party administrative services provider for our dental plan and is responsible for processing claims, distributing membership cards and contracting with In-Network providers. Provider Networks Provider Networks offer employees the opportunity to receive discounts by seeking treatment from a participating provider enrolled in the Delta Dental Preferred Provider Organization (PPO) network or the Delta Dental Premier Network. The benefit levels are the same regardless of provider. Employees receiving treatment from a participating dental PPO or Premier network provider may receive lower out- ofpocket expenses. This is because the coinsurance percentage is based on a negotiated fee. Non-participating providers may charge for any amount above the prevailing charge or fee schedule. To locate a participating provider 24 hours a day, visit and search the provider directory, or call between 7 a.m. and 5 p.m. CT. Note: The Enhanced Plan provision allows participants with serious health conditions, such as cancer, to possibly qualify for a third dental cleaning each year. If you think you might be eligible, please contact Delta Dental and they will initiate the process with your dentist. Dental Care Expense Coverage Dental Services - Highlights Class I - Preventive Care Includes the following covered services: 2 routine oral exams per calendar year Teeth cleaning two times per calendar year Bite wing x-rays once every 12 months Full mouth x-rays once every 3 years Topical fluoride once per calendar year to age 15 Topical sealants for children up to age 19, once per lifetime Dental Plan Deductible: None Coverage Level: 100% Maximum Payment Limit: $2,000 per calendar year, including all Class I, Class II and Class III services Deductible for Class II, III and IV: $50 / person for each calendar year Dental Services - Highlights Class II - Basic Care Cavity repair and tooth extractions (coverage includes routine and restorative services) Routine oral surgery Repairs to bridges, crowns and dentures Root canals Periodontal services for treatment of gum and bone disease Class III - Major Dental Care High-cost restorations (crowns, inlays, onlays, posts and cores) Dentures and bridges (excludes coverage for first 24 months unless dentures replace a natural tooth that was extracted while employee coverage was effective) Class IV - Orthodontia Benefits Service available for eligible dependents to age 26 Excludes coverage when hardware was placed before coverage began under this plan (exception for continuous coverage under a plan that was acquired as part of a corporate transaction) Dental Plan Coverage Level: 80% Maximum Payment Limit: $2,000 per calendar year, including all Class I, Class II and Class III services Coverage Level: 50% Maximum Payment Limit: Preventive, Basic, & Major Procedures - $2,000 per calendar year, including all Class I, Class II and Class III services Coverage Level: 50% Maximum Payment Limit: $2,000 per person, lifetime Dental coverage is effective the first of the month coinciding with or following an employee s hire date. Employees may elect to add coverage for themselves and qualifying dependents at subsequent annual Open Enrollment periods.

15 Vision Summary The Athene Benefits Program provides regular fulltime employees and their qualifying dependents with vision coverage insured through VSP. This plan provides coverage for eye exams and vision hardware benefits. VSP is financially responsible for all benefit claims, network services and providers. VSP delivers affordable, innovative vision care solutions through experienced, customer-focused people and the nation s most accessible, diversified vision care network. In-network benefits are fully covered after the applicable co-pay. VSP Vision Benefits Summary Benefit Description Copay Frequency Your Coverage with a VSP Doctor WellVision Exam Focuses on your eyes and overall wellness $20 Every 12 months Prescription Glasses $20 See frame and lenses Frame $150 allowance for a wide selection of frames $170 allowance for featured frame brands 20% off amount over your allowance Included in Prescription Glasses Every 12 months Lenses Single vision, lined bifocal, and lined trifocal lenses Polycarbonate lenses for dependent children Included in Prescription Glasses Every 12 months Lens Options Standard progressive lenses Premium progressive lenses Custom progressive lenses Average 20-25% off other lens options $55 $95 - $105 $150 - $175 Every 12 months Contacts (instead of glasses) $150 allowance for contacts; copay does not apply Contact lens exam (fitting and evaluation) Up to $60 Every 12 months Extra Savings and Discounts Glasses and Sunglasses 20% off additional glasses and sunglasses, including lens options, from any VSP doctor within 12 months of your last WellVision Exam. Laser Vision Correction Average 15% off the regular price or 5% off the promotional price; discounts only available from contracted facilities Your Coverage with Other Providers Visit vsp.com for details, if you plan to see a provider other than a VSP doctor. Exam...up to $45 Single Vision Lenses...up to $30 Lined Trifocal Lenses...up to $65 Contacts...up to $105 Frame...up to $70 Lined Bifocal Lenses...up to $50 Progressive Lenses...up to $50 VSP guarantees coverage from VSP doctors only. Coverage information is subject to change. In the event of a conflict between this information and your organization s contract with VSP, the terms of the contract will prevail. 15

16 Additional Vision Information Plan participants will be reimbursed for either glasses or contacts, but not both. Benefit frequency is based on the last date of service. Your $150 contact lens allowance is applied to the fitting/evaluation fees as well as the purchase of contact lenses. For example, if the fitting/evaluation fee is $30, you will have $120 toward the purchase of contact lenses. The allowance may be separated at some retail chain locations between the examining physician and the optical store. Visit to review your plan coverage before your appointment. At your appointment, please advise the provider you have VSP. An ID card is not necessary but your medical card from UMR will note vision coverage if you elected it. VSP participating providers handle all claim submission. Please contact VSP if you plan to see a provider other than a VSP doctor for instructions to file your claim. Laser Vision Benefit Average savings for this service is 15% off the regular price or 5% off the promotional price; discounts only available from contracted facilities with certain exclusions. To find a VSP provider, visit or call (800) Athene LiveWell Program Our program offers a holistic approach to wellness. It encompasses several areas of well-being, not just the physical aspect of wellness. Those areas include: 1. Physical 2. Career 3. Social 4. Financial 5. Community The program offers you an opportunity to earn points/rewards by: More closely monitoring/tracking your health initiatives and behaviors through the use of a wellness portal Taking part in challenges with other teams and business areas Participating in learning initiatives to better your career Increasing your financial planning knowledge and retirement planning initiatives The LiveWell program is completely optional to employees (not available for dependents). 16

17 Rates 2018 Employee Medical Plan Costs Per Pay Period $600 Deductible Health Plan High Deductible Health Plan ($1,500/$3,000) Total Rate Company Rate Employee Rate Total Rate Company Rate Employee Rate Employee Only $ $ $55.61 $ $ $15.91 Employee/ Spouse or Domestic Partner Employee/ Child(ren) or Employee/DP Children Employee/ Family $ $ $ $ $ $36.95 $ $ $ $ $ $34.29 $ $ $ $ $ $ Employee Dental Plan Costs Per Pay Period Total Rate Company Rate Employee Rate Employee Only Employee/Spouse or Domestic Partner Employee/Child(ren) or Employee/DP Children Employee/Family $18.58 $9.29 $9.29 $37.16 $18.58 $18.58 $40.99 $20.49 $20.50 $55.75 $27.87 $ Employee Vision Plan Costs Per Pay Period Total Rate Company Rate Employee Rate Employee Only Employee/Spouse or Domestic Partner Employee/Child(ren) or Employee/DP Children Employee/Family $3.55 $0.00 $3.55 $7.10 $0.00 $7.10 $7.60 $0.00 $7.60 $12.14 $0.00 $

18 Transportation Management Account (TMA) Summary The Athene Benefits Program offers regular fulltime employees the opportunity to contribute to a Transportation Management Account (TMA). Athene s TMA is administered by UMR. TMAs provide an important tax advantage by helping you pay for qualified mass transit expenses (e.g., bus passes, vanpooling) on a before-tax basis. Contributions are made with before-tax payroll deductions and deposited in the TMA account administered by UMR. You may elect to contribute up to $260 per month on a before-tax basis. You may make changes to your contribution amount as your transportation needs change. These contributions are then used for reimbursement of expenses paid for mass transit services provided the amount is in the account at the time of the reimbursement request and does not exceed the monthly maximum allowed by the IRS. Reimbursement requests are submitted directly to UMR (online, fax, or ) who serves as the TMA claims administrator. All claims for reimbursement must be submitted by March 31st following the end of the plan year. Please contact UMR at to request a claim form. There are no refunds for unused TMA funds. Unused TMA funds can be rolled over into later months or into the next year, provided you elect to participate in the TMA the following year. If you do not elect a TMA for the following year, any unused amounts at the end of a year will be forfeited. Note: Athene pays 100% of the parking costs for employees in locations where parking is not free. Health Savings Account (HSA) Summary A Health Savings Account (HSA) is an individual bank account established to pay qualified medical expenses on a tax-free basis. While you may establish an HSA with any retail bank offering HSA accounts, you must have an HSA account with Optum Bank if you d like the convenience of directing before-tax payroll deductions into your HSA. Unlike a Flexible Spending Account (FSA), the HSA does not have a use it or lose it provision. Funds accumulate tax-free in a personal Optum Bank account and are invested initially in money market funds. You may also change your HSA contribution at any time throughout the year. Please contact Optum Bank if you have an interest in investing accumulated funds. Contributions and limits To contribute to an HSA, you must be enrolled in the High Deductible Health Plan (HDHP) and not be covered by other health insurance (including Medicare). Contributions to an HSA may be made with before-tax payroll deductions or personal contributions (personal contributions are also tax deductible). If you elect to make contributions through payroll deduction, your annual contribution will be divided evenly and deducted each pay period. See IRS Publication 969 for more information: If you choose to contribute to an HSA, Athene will pay the monthly HSA maintenance fees with Optum Bank (currently $3.50 per month) as long as you are actively employed and enrolled in the HDHP (checks and other miscellaneous bank fees will be your responsibility). The new limits shown on the next page are for total annual contributions. Because an HSA is a personal account and contributions can be made by a means other than payroll deduction(s), it is your responsibility to monitor contribution levels against IRS limits. If you exceed the IRS limit, please consult with your tax advisor. Refunds will not be processed by Athene. 18

19 IRS Definition of Dependent To qualify as an eligible HSA dependent (meaning you can take withdrawals/reimbursements from your HSA for medical expenses incurred by your dependent), the IRS requires that you must be able to claim your dependent on your tax return. If you have any questions about your dependent s eligibility for reimbursement from your HSA, please consult with your personal tax advisor or Optum Bank at optumbank.com or (866) HSA Contribution Limits Employee Under Age 55 Employee Age 55 and Over Employee Only $3,450 $4,450 Family Coverage $6,850 $7,850 Health Savings Account (HSA) funds may be withdrawn tax-free to pay for qualified medical expenses. For a list of qualified medical expenses as defined by the Internal Revenue Service, review Publication 502 at: HSA funds not used in a calendar year accumulate tax-free and may be used to pay for qualified medical expenses incurred at a later date. You are responsible for managing which expenses qualify for withdrawal. Withdrawals from an HSA not deemed a qualified medical expense are subject to ordinary income taxes and a 20% penalty tax. You have the convenience of using an Optum Bank checking account or debit card to pay for covered expenses at the point of service. You may withdraw unused funds at age 65 for any reason, without being subject to a 20% tax penalty. Any withdrawal for an expense not considered a qualified medical expense prior to age 65 is subject to both ordinary income tax and a 20% penalty tax. The account stays with you whether or not you are employed at Athene. If you enroll in the HDHP, you will be automatically enrolled in an HSA with Optum Bank, and you will receive a Health Savings Account Card. If you are eligible for coverage under a traditional medical plan including Medicare or a traditional Flexible Spending Account, you may not be eligible to contribute to an HSA. 19

20 Flexible Spending Account (FSA) Summary The Athene Benefits Program offers regular fulltime employees the opportunity to contribute to Flexible Spending Accounts (FSAs). Athene s FSAs are administered by UMR. FSAs provide an important tax advantage by helping you pay for health-related care and dependent care expenses on a before-tax basis. How does a FSA Work? The annual contribution you elect during enrollment is divided evenly among 24 pay periods. Contributions are made with before-tax payroll deductions and deposited in the FSA account(s). Your contributions may not be transferred from one FSA account to another and it s important to know that any unused balance in your FSA account(s) at the end of the year will be forfeited. There Are Three Types of FSAs Healthcare Expense Reimbursement (Medical FSA) This FSA can be used with the $600 PPO plan but not with the High Deductible Health Plan (HDHP). You may elect to contribute from $60 to $2,650 annually on a before-tax basis. Your contributions can be used for reimbursement of eligible medical, dental, and vision expenses not paid by any other plan. Limited Purpose Reimbursement This FSA may be used in tandem with a HDHP and HSA, and is used for reimbursement of eligible dental and vision expenses only. A Limited Purpose FSA has the same features as a traditional medical expense FSA. You may contribute from $60 to $2,650 annually on a before-tax basis. Dependent Care Reimbursement You may elect to contribute from $60 to $5,000 annually ($2,550 if married and filing separately) on a before-tax basis. You (and your spouse, if applicable) must be actively working to receive reimbursement from this account. A dependent child must be under the age of 13 and live with you to qualify. A dependent parent or spouse living with you who is incapable of caring for him/ herself may also qualify. Please refer to IRS Publication 502 for a complete listing of FSA-eligible expenses at: publications/p502/index.html. Expense Reimbursement You may receive reimbursement for a qualifying expense by submitting a claim form (found at www. umr.com) with receipts, or by using an FSA debit card. The debit card will transfer funds from your Healthcare, Limited Purpose or Dependent Care FSA account directly to the provider or merchant at the point of service. A debit card is simply a method of payment and does not eliminate the IRS requirement to provide necessary documentation to substantiate eligibility for reimbursement. If you elect both Dependent Care FSA and another FSA, you must choose to have a debit card for both, or not at all. If you choose to have a debit card, it s recommended you check with your day care provider for method of payment as some do not accept debit cards. For the Medical FSA only, you may elect to receive automatic reimbursement of medical expenses not paid by the Athene medical plan (coinsurance and deductibles) by contacting UMR at Following payment of a medical claim, UMR will automatically submit these unreimbursed medical expenses to your medical FSA account for reimbursement. Health care expenses are reimbursed as submitted up to your annual contribution amount even if you have not contributed the full amount. You may receive reimbursement for dependent care expenses only from contributions that reside in your account. You have until March 31 of the following year to file for reimbursement of expenses incurred during the plan year (January 1 to December 31). To avoid unnecessary paperwork, there is a minimum reimbursement amount of $25. 20

21 Supplemental Life Insurance Coverage The Athene benefits program offers regular full-time employees on the first day of the month coinciding with or following hire date. May be purchased in increments of $10,000 Minimum coverage is $10,000 Maximum amount is the lesser of 5 x annual base pay or $500,000 (Medical underwriting required over $100,000) Coverage reduces to 65% at age 65 and 50% at age 70. Reduction of coverage will be effective the first of the year following your age change Premiums are based on your age If you apply for coverage within 14 days of your hire date you may purchase up to the maximum. Evidence of insurability is required for any amount exceeding $100,000, the guarantee issue amount. You may also purchase supplemental insurance coverage in the event of a qualifying family status change, within 31 days of the event. However, evidence of insurability will be required. You may also enroll in the minimum, or request the next level of coverage, during annual benefit open enrollment. Dependent Life Insurance The Athene benefits program offers regular full-time employees on the first day of the month coinciding with or following hire date. Life insurance on a spouse/domestic partner may be purchased in $5,000 increments (cost is based on your age). An affidavit is required by The Hartford for domestic partner coverage. To obtain the affidavit, please contact HRServiceCenter@athene.com. Minimum coverage level is $10,000 Maximum coverage level is $100,000 (medical underwriting is required over $25,000). You may not purchase an amount of spouse/ domestic partner life insurance greater than the amount you carry for yourself Coverage reduces to 65% at age 65 and 50% at age 70. Premiums are based on your age (not your spouse or domestic partner). If you apply for coverage within 14 days of your hire date, you may purchase up to the maximum. Evidence of insurability is required for any amount exceeding $25,000, the guarantee issue amount for a spouse or domestic partner. Spouse/domestic partner coverage may also be added or increased during the plan year as a result of a qualifying family status change, and within 31 days of the event. However, evidence of insurability will be required unless the spouse or domestic partner is newly eligible (such as due to marriage). Applying for additional insurance over the guarantee issue amount for you, or your spouse/domestic partner, requires a completed personal health application available on AtheneShare. Once you complete the form, please submit directly to The Hartford. Additional coverage approved by The Hartford will be effective upon receipt of the approval in Human Resources. You may also enroll in the minimum, or request the next level of coverage, during annual benefit open enrollment. Dependent Children Provided for regular full-time employees on the first day of the month coinciding with or following hire date You may elect to carry one level of coverage for qualifying dependent children ($5,000 or $10,000) The level of approved coverage is in effect for all dependent children, regardless of number You must purchase voluntary coverage for yourself to elect coverage for your eligible child. Evidence of insurability is not required for dependent children. Supplemental, spousal and dependent life insurance premiums will be paid with after-tax dollars. 21

22 Voluntary Accidental Death & Dismemberment Regular full-time employees may purchase additional Accidental Death & Dismemberment (AD&D) coverage. Voluntary AD&D coverage may be elected for you and your family members. Coverage may be purchased as described below: For you: $10,000 increments are available up to a maximum of the lesser of $500,000 or 5x your annual base pay. For your spouse/domestic partner: $5,000 increments are available up to $100,000 For your dependent child(ren): $5,000 or $10,000 is available (all enrolled children have equal coverage). You must select coverage for yourself equal to, or greater than any amount elected for your dependent(s). Evidence of insurability is not required for Voluntary AD&D for any family member. (An affidavit is required, however, for domestic partner coverage) Voluntary AD&D coverage reduces to 65% at age 65 and 50% at age 70. The costs shown to the right for optional benefits will be deducted each pay period Supplemental Life Costs per Pay Period (premium per $1,000 of coverage) Employee Supplemental Life and Spouse Life Insurance Age* Under 30 $ $ $ $ $ $ $ $ $ $ *Use Employee s Age, as of the previous 12/31, When Calculating Spouse/Domestic Partner Premium 2018 Supplemental Life Costs per Pay Period Child(ren) Life Insurance Option 1: $5,000 Coverage $0.123 Option 2: $10,000 Coverage $ Voluntary AD&D Employee $0.010 Spouse/Domestic Partner $0.010 Dependent Child(ren) $