Westlake Chemical 2019 BENEFITS GUIDE

Transcription

1 Westlake Chemical 2019 BENEFITS GUIDE

2 Westlake Chemical Benefit Guide What s Inside About This Guide...1 Your 2019 Benefits Summary...1 Eligible Dependents...1 When Coverage Is Effective...1 Medical Plan Options Medical Premiums Medical Summary...3 Weighing Your Medical Plan Options...5 Save Money with Anthem s Find a Doctor Tool...5 LiveHealth Online...5 What Is an HSA?...5 Triple Tax Advantages...6 HSA Contribution Limits...6 Setting Up an HSA...6 Reimbursing Yourself for Expenses...6 How an HSA Compares with Our Health Care Flexible Spending Account (FSA)...6 Dental Plan Dental Premiums Dental Plan Summary...7 Vision Plan Vision Premiums Vision Plan Summary...8 Flexible Spending Accounts (FSAs)...9 How FSAs Work...9 Reimbursing Yourself for Expenses...10 Health Care FSA...10 Dependent Care FSA...10 Life and AD&D Insurance Life and AD&D Insurance Options Voluntary Life and AD&D Premiums...11 Voluntary Life...11 Voluntary AD&D...11 Voluntary Dependent Life...11 Westlake Scholarship Program...11 Educational Assistance...11 Service Awards Program...11 Best Doctors...11 SurgeryPlus...11 Disability Benefits (k) Plan...13 For More Information...13

3 About This Guide This guide gives you an overview of the benefits we offer so you can make informed decisions during your enrollment period. Please carefully review this guide to learn more about our plans and how to enroll for coverage. New hires will also receive a Day 1 Summary to review. Your 2019 Benefits Summary Westlake s benefits are designed to promote your health and well-being and offer financial security for you and your family. Our plans: Provide access to quality health care at reasonable rates; Offer you and your family financial protection against unexpected illness, injury and other catastrophic events; Help you save for retirement; and Give you time away from work to recharge and relax. This guide contains a brief summary of our 2019 health benefits, flexible spending accounts, life and accidental death and dismemberment (AD&D) benefits, scholarship program, educational assistance, service awards program, disability benefits, and 401(k) benefits. To learn more about these benefits and the Westlake Total Rewards program, please visit hr.westlake.com. New Hires: What to Bring with You on Day 1 To make it easy for you to enroll for Westlake coverage, be sure to bring with you on your first day of work: Dependent verification documents (e.g., original or certified copies of birth certificates, adoption papers or court orders for any eligible dependent children that you want to enroll for health coverage, copy of marriage license if you wish to enroll a spouse for health coverage); Social Security numbers for any dependents that you plan to enroll; Prior Employer 401(k) form; and Completed Spousal Surcharge Attestation Form (if applicable). Eligible Dependents If you enroll in any of the benefit plans described in this guide, you may also enroll your eligible dependents in that plan. Your eligible dependents include: Your legal spouse. Your children up to age 26, including your natural children, stepchildren, children for whom you have legal guardianship (including foster children) and adopted children. Your children age 26 or older who are mentally or physically disabled and who rely on you for support and care. When Coverage Is Effective For new hires, coverage for health and life insurance begins on your date of hire. For individuals electing coverage for 2019 Open Enrollment, coverage begins on January 1,

4 Westlake Chemical Benefit Guide Medical Plan Options For 2019, you have a choice of two medical plan options, both administered by Anthem BlueCross BlueShield. While both plan options use the same quality provider network and cover the same services and supplies, they differ in some important ways: The PPO Plan option offers lower annual s and out-of-pocket maximums in exchange for you paying a higher monthly premium. The Consumer Plan option has higher annual s and out-of-pocket maximums in exchange for you paying a lower monthly premium. The annual is a combined medical and prescription drug. In addition, the Consumer Plan includes a company contribution to a Health Savings Account (HSA). You can use that contribution to meet a portion of your annual or to pay eligible expenses MEDICAL PREMIUMS PPO PLAN 2019 Monthly Premiums $ 120 (Employee Only) $ 277 (Employee + Spouse)* $ 229 (Employee + Child(ren)) $ 421 (Employee + Family)* *Spousal Surcharge CONSUMER PLAN $ 44 (Employee Only) $ 105 (Employee + Spouse)* $ 87 (Employee + Child(ren)) $ 158 (Employee + Family)* For Employee + Spouse and Employee + Family coverage, a $125/month spousal surcharge will be added to the above rates unless: Your spouse is not employed; or Your spouse is employed, and you attest during enrollment that he or she doesn t have access to employer-provided medical coverage, by completing and submitting the Spousal Surcharge Attestation Form. 2

5 2019 MEDICAL SUMMARY Annual Deductible** $ 400 Individual; $ 800 Family Annual Out-of-Pocket Maximum*** Includes the annual Coinsurance Level Health Savings Account (HSA) PPO PLAN CONSUMER PLAN In-Network Out-of-Network* In-Network Out-of-Network* $ 4,000 Individual; $ 8,000 Family 20% after annual $ 800 Individual; $ 2,000 Family $ 10,000 Individual; $ 20,000 Family 40% after annual $ 1,500 Employee Only; $ 3,000 Employee + Dependents $ 5,000 Individual; $ 10,000 Family 20% after annual $ 5,000 Employee Only; $ 10,000 Employee + Dependents $ 10,000 Individual; $ 20,000 Family 40% after annual Not applicable Applicable only if you are enrolled as of January 1: $ 500 (Employee Only) $ 750 (Employee + Spouse) $ 750 (Employee + Child(ren)) $ 1,000 (Employee + Family) (please see pages 5 6 for more information on HSAs) MEDICAL BENEFITS Physician Office Visit You pay $25 copay You pay 40% after annual Specialist Office Visit You pay $50 copay You pay 40% after annual Hospital Admission Emergency Room (ER) Wellness/Preventive Care You pay $200 hospital per admission plus 20% after hospital and annual s You pay $100 ER per visit (waived if admitted) plus 20% after ER and annual s Plan pays 100% for preventive services You pay $400 hospital per admission plus 40% after hospital and annual s Paid at the In-Network benefit level if claim is coded by facility as a true emergency; otherwise, you pay $100 ER per visit (waived if admitted) plus 40% after ER and annual s Plan pays 100% for prostate exam, mammogram and well woman exam You pay 20% after annual You pay 20% after annual You pay 20% after annual You pay 20% after annual Plan pays 100% for preventive services You pay 40% after annual You pay 40% after annual You pay 40% after annual Paid at the In-Network benefit level if claim is coded by facility as a true emergency; otherwise, you pay 40% after annual Plan pays 100% for prostate exam, mammogram and well woman exam (continued) 3

6 Westlake Chemical Benefit Guide Retail 30-day supply PPO PLAN CONSUMER PLAN In-Network Out-of-Network* In-Network Out-of-Network* Generic You pay $5 copay Preferred Brand You pay 30%; $60 maximum Non-Preferred Brand You pay 40%; $100 maximum PRESCRIPTION DRUG BENEFITS You pay 40% after annual You pay 20% after annual Annual waived for eligible preventive prescription medication You pay 40% after annual Mail Order 90-day supply Generic You pay $12.50 copay Not applicable You pay 20% after annual Not applicable Note: Prescriptions for maintenance medications can be filled at a local CVS/pharmacy at the same costs as mail order Preferred Brand You pay 30%; $150 maximum Non-Preferred Brand You pay 40%; $250 maximum Annual waived for eligible preventive prescription medication * For out-of-network services, you pay the amounts shown, plus any charges that exceed the plan s maximum allowed amount. ** For both the PPO and Consumer Plan options, eligible expenses apply to both the in-network and out-of-network annual s regardless of whether they were incurred with in-network or out-of-network providers. *** For both the PPO and Consumer Plan options, eligible expenses apply to both the in-network and out-of-network out-of-pocket maximums regardless of whether they were incurred with in-network or out-of-network providers. IMPORTANT! For the Consumer Plan The Employee Only annual shown above applies only if you have coverage for yourself only. If you cover any family members, the Employee Only annual no longer applies. Instead, you and all covered family members must meet the Employee + dependent(s) annual. All covered family members contribute towards the Employee + dependent(s) annual, which can be met by one covered family member or a combination of covered family members. Once the Employee + dependent(s) annual is satisfied, the Consumer Plan shares in the cost of covered services with all covered family members. 4

7 WEIGHING YOUR MEDICAL PLAN OPTIONS To see how our priorities and life choices can affect our choice of medical plan, let s look at the expenses of Eve and her husband Eric, who have Employee + Spouse coverage and medium-range medical needs. For more examples, see Weighing Your Medical Plan Options at hr.westlake.com. PPO Plan EMPLOYEE + SPOUSE Consumer Plan Eve s Employee Payroll Contribution $3,324 $1,260 Preventive Visits $0 $0 5 PCP Office Visits $125 (5 x $25 copay) 5 Specialist Office Visits $250 (5 x $50 specialist copay) 2 ER Visits (assumes the ER bills $1,000 for each visit) Total Annual Employee Spend including: monthly contributions, medical and prescription drug expenses $550 (5 x $110 average doctor s visit cost) $1,000 (5 x $200 average specialist s visit cost) $1,120 $1,560 $4,819 $4,370 HSA Seed (company contribution to HSA) N/A $750 Net Annual Employee Cost $4,819 $3,620 Remaining HSA Balance to Roll Over Next Year N/A $0 Note: All costs shown above are illustrative and assume services were received from in-network providers, actual employee costs will vary by provider and type of service. The spousal surcharge does not apply as Eve s spouse doesn t have access to employer-provided medical coverage. SAVE MONEY WITH ANTHEM S FIND A DOCTOR TOOL Getting care from a network provider is one of the best ways to manage your health care expenses. And the good news is that locating an Anthem network doctor is fast and easy. Use Anthem s online Find a Doctor tool to look for doctors, hospitals, pharmacies, labs and other network health care providers. To get started, just follow these steps: Go to anthem.com and log in. Or use your ID number or the first three letters to search without logging in. Under Useful Tools on the right, select Find a Doctor. LIVEHEALTH ONLINE Included with your Anthem Blue Cross and Blue Shield benefits, LiveHealth Online offers 24/7 access to health care from a board-certified doctor in just minutes. All you need is a computer, smartphone or tablet, and help is just a click or call away. To start using LiveHealth Online, all you need to do is sign up at livehealthonline.com or download the app. WHAT IS AN HSA? Employees enrolled in the Consumer Plan can open a Health Savings Account (HSA), a tax-advantaged account that lets you pay for a variety of eligible health care expenses not reimbursed by your medical, dental, vision or prescription drug coverage including s and coinsurance. With an HSA, you can spend on your health care now, or save and spend later on future health care expenses. There s no time limit on when you have to use your money, and year-end balances will roll over for use in future years. The employer HSA contribution is made for employees who are enrolled in the Consumer Plan as of January 1 of each year (no pro-rated contributions are made for enrollments or changes made after January 1). To be eligible for our HSA, you: Can t be contributing to a Health Care Flexible Spending Account (FSA) including an account your spouse may have with his or her employer; Can t be covered by Medicare; and Can t be claimed as a dependent on anyone else s federal tax return. 5

8 Westlake Chemical Benefit Guide Triple Tax Advantages The HSA offers you triple tax advantages: You contribute to your HSA with tax-free dollars. You can use your HSA funds to pay for a variety of eligible medical, dental, vision and prescription drug expenses with tax-free dollars. The money in your HSA can grow with tax-free earnings if you choose to invest your account balance. You can review the available investment options by logging into your HSA account at Please note: If you use your HSA to reimburse yourself for non-qualified expenses, you ll be taxed on the amount you use. If you re under age 65, a 20% penalty will also apply. For more on HSAs, see IRS Publication 502 (available on HSA Contribution Limits The IRS has set 2019 HSA annual maximum contribution limits as follows: HSA contribution limit (Employer + Employee) HSA catch-up contribution (If you ll be age 55 or older in 2019) 2019 HSA CONTRIBUTION LIMITS $3,500 (if you cover yourself only) $7,000 (if you cover yourself and one or more dependents) $1,000 (in addition to the limits shown above) Please note that the above contribution maximums are per household and are inclusive of contributions made to any HSA. You are responsible for making sure the household limit is not exceeded. Setting Up an HSA If you elect the Consumer Plan, WageWorks, the HSA administrator, will provide you with information on how to set up and use your HSA. Please note that your HSA contributions can be changed during the year through the Workday online enrollment system at hr.westlake.com/workday. Reimbursing Yourself for Expenses Once your HSA has been set up, you ll be sent a debit card that you can use at the point of purchase for some expenses. For other expenses, you ll need to pay the expense and then request a reimbursement from your account. The HSA administrator will provide instructions on how you can reimburse yourself. How an HSA Compares with Our Health Care Flexible Spending Account (FSA) While an HSA and Health Care FSA both let you pay eligible health care expenses with tax-free dollars, different IRS regulations apply to each account. Are there enrollment restrictions? Does use it or lose it apply? Can funds be used for non-health care expenses? Is it portable? HEALTH SAVINGS ACCOUNT (HSA) Yes. You must be enrolled in the Consumer Plan No. Unused funds can be rolled over for your use in future years Yes. Funds can be used for any purpose; however, taxes and penalties apply for non-qualified health care expenses Yes. You own your HSA. It isn t tied in with your employment at Westlake HEALTH CARE FSA Yes. You cannot be enrolled in the Consumer Plan Yes. Generally, funds not used within the calendar year are forfeited* No. You can use the funds only for IRSapproved health care expenses No. Participation ends when you leave Westlake * Currently, you can carry over up to $500 in unused Health Care FSA funds for use in the following year. This carryover is subject to change in future years, unless you enroll in the Consumer Plan in the following year, in which case funds should be used by year end or else they will be forfeited. 6 See pages 9 10 to learn more about our Health Care and Dependent Care FSAs.

9 Dental Plan With the Dental Plan, you have the flexibility to receive services from a member of the Delta Dental network or to go to any out-of-network dentist you choose. Generally, you save money when you use in-network dentists. That s because they ve agreed to provide their services at contracted rates that are usually lower than out-of-network rates. In addition, maximum allowed amount limits don t apply to care received from in-network dentists DENTAL PREMIUMS 2019 Monthly Premiums $ 7 (Employee Only) $ 14 (Employee + Spouse) $ 13 (Employee + Child(ren)) $ 26 (Employee + Family) 2019 DENTAL PLAN SUMMARY Annual Deductible Annual Maximum Per person Preventive Services Up to two visits per person per calendar year $ 50 Individual; $ 100 Family IN-NETWORK $2,000 $ 50 Individual; $ 100 Family OUT-OF-NETWORK* Plan pays 100% Plan pays 100% Basic Services You pay 20% after the You pay 20% after the Major Services You pay 50% after the You pay 50% after the Orthodontic Benefits Dependent children under age 19 only Orthodontic Lifetime Maximum Per dependent child You pay 50% after the $1,500 You pay 50% after the * For out-of-network services, you pay the amounts shown, plus any charges that exceed the plan s maximum allowed amount limits. 7

10 Westlake Chemical Benefit Guide Vision Plan Regular vision check-ups can help detect chronic conditions and vision correction needs. With our Vision Plan, you can receive care from any optometrist, optician, ophthalmologist or other licensed and qualified vision care provider. However, you can save money when you receive services from a VSP network provider VISION PREMIUMS 2019 Monthly Premiums $ 8.16 (Employee Only) $ (Employee + Spouse) $ (Employee + Child(ren)) $ (Employee + Family) 2019 VISION PLAN SUMMARY Annual Exam One exam every calendar year Frames Once every calendar year Lenses Once every calendar year Contact Lenses (Elective) In lieu of lenses and frames benefit; once every calendar year Contact Lenses (Medically Necessary) In lieu of lenses and frames benefit; once every calendar year IN-NETWORK OUT-OF-NETWORK You pay $25 copay Plan reimburses up to $45 Plan pays 100%, up to $150 (or up to $170 for featured frame brands) Single/Bifocal/Trifocal/Lenticular: Plan pays 100% Standard Progressive: You pay $55 copay Premium Progressive: You pay $95 $105 copay Custom Progressive: You pay $150 $175 copay Plan reimburses up to $70 Single/Bifocal/Trifocal/Lenticular: Plan reimburses up to $30 Standard Progressive: Plan reimburses up to $50 Premium Progressive: Not covered Custom Progressive: Not covered Plan pays 100%, up to $150 Plan reimburses up to $105 Plan pays 100% Plan reimburses up to $210 8

11 Flexible Spending Accounts (FSAs) HOW FSAs WORK FSAs help you lower your taxes by letting you set aside money on a tax-free basis to pay for certain eligible expenses. We offer two types of FSA, both administered by WageWorks. Description Contributions and Limits Eligible Dependents HEALTH CARE FSA* Allows you to set aside tax-free dollars to pay for eligible health care expenses not covered by your health care plans for yourself and your eligible dependents. Eligible expenses include: Health care expenses not reimbursed by your medical, dental, vision or prescription drug coverage such as s, copays and coinsurance. Amounts not covered by your plan due to maximum allowed amount or reasonable and customary (R&C) limits. For a more complete list, see IRS Publication 502 (available on If you choose to contribute: Minimum annual contribution: $250. Maximum annual contribution: $2,500. Your eligible dependents include any family member who can be claimed as a dependent on your federal income tax return. DEPENDENT CARE FSA Allows you to set aside tax-free dollars to pay for eligible dependent care expenses so that you (and your spouse, if you re married) can work. Eligible expenses include: Day care center charges for eligible dependents. Before- and/or after-school care for eligible dependents. Day care expenses for an eligible dependent of any age, such as an elderly parent or disabled spouse. For a more complete list, see IRS Publication 503 (available on If you choose to contribute: Minimum annual contribution: $250. Maximum annual contribution: $5,000 (or $2,500 if you re married and filing a separate income tax return).** Your eligible dependents include: Your children under age 13. Your spouse or dependent of any age who is disabled and spends at least eight hours per day in your home. * You can t contribute to the Health Care FSA if you re enrolled in the Consumer Plan. However, you may be eligible to contribute to an HSA (see page 5). ** Please note that the $5,000 Dependent Care FSA contribution maximum is per household and is reduced by any contributions you or your spouse (or your spouse s employer) make to another Dependent Care FSA. You are responsible for making sure the household limit is not exceeded. You contribute to FSAs through automatic pre-tax payroll deductions. Because your contributions are made before payroll taxes are calculated and deducted, you don t pay Social Security tax, Medicare tax, federal income tax, or in most areas, state and local income taxes on them. Because of these tax advantages, the IRS tax code is very strict about how you use your accounts. For example: Your Health Care and Dependent Care FSAs are separate. You can t use money in your Health Care FSA to pay dependent care expenses or money in your Dependent Care FSA to pay health care expenses (including dependent health care expenses). With the exception of a $500 maximum Health Care FSA carry over, you forfeit any funds remaining in your account at the end of the year. You must enroll each year in which you want to participate. And once you make your enrollment election, you can t change it until the next year unless you have a qualifying change in status event. If you elect to participate in an FSA, WageWorks, the FSA plan administrator, will provide you with information on how to use your account. 9

12 Westlake Chemical Benefit Guide REIMBURSING YOURSELF FOR EXPENSES Health Care FSA Once you enroll in the Health Care FSA, you ll be sent a debit card that you can use at the point of purchase for some expenses. For other expenses, you ll need to pay for the expense and then file a claim for reimbursement from your account. The full amount of your annual Health Care FSA election is available for reimbursement, even if that amount has not yet been deducted from your pay. The FSA plan administrator will provide claim-filing forms and instructions. Dependent Care FSA For the Dependent Care FSA, you ll need to pay your dependent care provider and then file a claim for reimbursement from your account. You ll be reimbursed only up to the amount that s in your account at the time the claim is received. The FSA plan administrator will provide claim-filing forms and instructions. Life and AD&D Insurance Our life and accidental death and dismemberment (AD&D) program offers important financial protection for you and your family. Composed of both employer-provided and optional voluntary plans, the program gives you the flexibility to tailor your insurance coverage to your individual needs LIFE AND AD&D INSURANCE OPTIONS Basic Life Coverage for you Basic AD&D Coverage for you Voluntary Life** Coverage for you Voluntary AD&D Coverage for you Voluntary Dependent Life Insurance You can choose to cover your spouse only, your child(ren) only or both For child coverage, each of your dependent children will be covered for the amount you elect COMPANY PAID Two times annual base pay, up to $1,000,000 maximum coverage* Two times annual base pay, up to $1,000,000 maximum coverage* EMPLOYEE PAID One, two, three, four or five times annual base pay, up to $1,500,000 maximum coverage Basic + voluntary life coverage is limited to a $2,000,000 maximum One, two, three, four or five times annual base pay, up to $1,500,000 maximum coverage Basic + voluntary AD&D coverage is limited to a $2,000,000 maximum Flat Dollar Amount Options: Coverage for Your Spouse $10,000 $25,000 $50,000 Coverage for Your Child(ren) $ 5,000 $10,000 * Coverage in excess of $50,000 (including Basic Life and any Voluntary Life coverage elected) will result in imputed income to the employee. To avoid imputed income, you can choose $50,000 in basic life coverage. If you make this election, your basic AD&D coverage will also be $50,000. ** Evidence of insurability (EOI) may be required for some coverage elections. 10

13 2019 VOLUNTARY LIFE AND AD&D PREMIUMS Voluntary Life Monthly premiums for voluntary life insurance coverage are based on your age and whether you use tobacco. You will be required to attest to your tobacco usage status during enrollment. AGE NON-TOBACCO USER Rate per each $1,000 of coverage TOBACCO USER Rate per each $1,000 of coverage Under 25 $0.041 $ $0.048 $ $0.066 $ $0.074 $ $0.082 $ $0.140 $ $0.238 $ $0.426 $ $0.541 $ $1.040 $ $1.690 $1.690 Voluntary AD&D Rate per each $1,000 of coverage: $0.02 Voluntary Dependent Life Rate per each $1,000 of coverage: Spouse: $0.20 Child: $0.16 Westlake Scholarship Program The Westlake Scholarship Program is designed to reward academic excellence and encourage the pursuit of higher education by the children of Westlake employees. High school seniors who are children of regular, full-time employees who have at least one year of Westlake service or applicable service credit are welcome to apply. Educational Assistance Our Educational Assistance Program supports our commitment to your professional and educational development by helping pay for accredited college or university coursework that benefits both you and the Company. Before enrolling in a class, you must complete an application for coursework approval. For details, please reference hr.westlake.com. Service Awards Program Our service awards recognize your achievement of service milestones as you contribute to our company s long-term success. The program recognizes employees for every five years of continuous service and honors your impact on your team, our customers and our business. Best Doctors If you and your eligible dependents are covered under a Westlake medical plan, you can get expert second opinions through Best Doctors to help with your medical decisions. Access services at your convenience, via phone at (866) , through the app or online at members.bestdoctors.com. SurgeryPlus SurgeryPlus gives you access to top quality care while helping you and your covered family members plan and pay for nonemergent surgeries. With SurgeryPlus, you ll have access to a top tier network of specialized surgeons, while providing you with your very own personal assistant to handle the logistics of planning for surgery. Westlake will waive your coinsurance when you chose to utilize SurgeryPlus to help you pay for high cost procedures. SurgeryPlus is a supplement to your medical plan. 11

14 Westlake Chemical Benefit Guide Disability Benefits Short- and long-term disability benefits provide income protection in the event of illness or non-job related injury. Eligibility SHORT-TERM DISABILITY (STD) LONG-TERM DISABILITY (LTD) Eligible employees include full-time Westlake salaried employees and non-represented hourly employees who have completed 60 days of active service and who work at least 30 hours per week. Elimination period before benefits begin None 26 weeks of disability Benefit Maximum period for payment for disability 100% of pay for weeks % of pay for weeks 7 26 Basic option: 50% of pay the maximum benefit is $10,000/month Optional buy-up option: 67% of pay (Basic + Optional combined) the maximum benefit is $15,000/month 26 weeks If disability occurs: Prior to age 60: Greater of SSNRA or to age 65 (but not less than 5 years) At age 60 and over: The maximum benefit duration varies; contact the Total Rewards Team for details Cost The Company pays the cost The Company pays the cost of the Basic option The employee cost for the Optional buy-up option is shown below: AGE BAND MONTHLY RATE PER $100 COVERED PAYROLL Under 25 $ $ $ $ $ $ $ $ $ $0.295 Disability benefits will commence when an employee has been absent for one hour or longer with proper notification. Verification from a licensed physician may be required for all disabilities of four days or longer; however, the Company reserves the right to require a physician s statement at any time. For purposes of this benefit, a day is generally counted as eight hours of pay and a week is 40 hours of pay. STD and LTD benefits will not count as time worked for purposes of computing overtime. Benefit payments will be reduced by any other payments received from Workers Compensation, Social Security or any other statutory benefit. Benefits will not be paid for lost time resulting from intentionally self-inflicted injuries; use of drugs, narcotics or stimulants unless prescribed by a physician; commission of a felony; condition resulting from gainful employment outside of the Company or its subsidiaries; or failure to take a physical exam or follow prescribed treatment. 12

15 401(k) Plan The 401(k) Plan is a defined contribution plan designed to help you establish a savings program to supplement your retirement income from Social Security. The Plan offers you many advantages: Employee Contributions You can make pre-tax and/or Roth after-tax contributions from your eligible compensation. The maximum limit for deferrals for 2019 is $19,000. If you are age 50 or older before the end of the 2019 calendar year you can defer an additional $6,000 in catch-up contributions. Contribution limits are subject to change per IRS guidelines. Company Contributions Your employer will match 100% of your contributions (up to 4% of your pay) every payday when you make your contribution. Eligible compensation includes base pay plus overtime, up to IRS limits, and excludes bonuses. Vesting If you leave the company for any reason, you will receive the full value of your contributions and the employer match in your 401(k) account. For More Information This guide is a brief summary of some of the benefits available to Westlake employees. If you have questions about your 2019 benefits, please visit hr.westlake.com or contact your local HR department. You can also call or the Total Rewards Team at (800) or benefits@westlake.com. 13

16 This guide is intended to be a brief summary of benefits provided by Westlake Management Services, Inc. Should there be any discrepancies between this guide and the Master Plan Documents and/or official Company Policies and Procedures, the Master Plan Documents and/or official Company Policies and Procedures will prevail. Westlake Management Services, Inc. reserves the right to amend, change or terminate its benefit plans and programs at any time without notice, at its sole discretion. Nothing in this guide creates an employment contract between Westlake Management Services, Inc. or its subsidiaries or affiliates and any employee. Building Products Non-Union October 2018