September 1 , 2009 OPEN ENROLLMENT 2009-2010
Dec 25, 2015
September 1 , 2009
OPEN ENROLLMENT 2009-2010
Overview
• Overview of Workforce Solutions Benefits Package
• Financial Benefits Update• Health and Welfare Update• Changes for 2009-2010• Open Enrollment
Workforce Solutions Benefits Package
Workforce Solutions offers a comprehensive benefitspackage which includes:
Health benefits Dental benefits Vision benefits Reimbursement benefits Disability benefits Retirement Income benefits Life Insurance benefits Cafeteria Plan benefits Tuition Reimbursement benefits
Workforce Solutions’ Retirement Income Package
Profit Sharing 401a
*Company invests 7% of your annual salary after 6
months
Social SecurityOver the
course of yourcareer,
WorkforceSolutions
pays ½ and you pay ½
Personal Savings457b
• Long-term savings• Multiple investment
options• Tax Advantages• Compound tax
deferredgrowth
• Employee can contribute on 1st day
of employment
Workforce Solutions’Health & Welfare Program
Long-Term Disability
AccidentInsurance(AD&D)
Medical
Dental
HCR&
DCRShort Term
Disability
Vision
LifeInsurance
Tuition Reimbursement
Dependent LifeInsurance
PrescriptionDrugs
VOLUNTARY Benefit Options
ADDITIONAL LIFE INSURANCE401(a)
Multipleinvestment funds
CHILD CARE AND DEPENDENT CARE REIMBURSEMENTTUITION
REIMBURSEMENT
DEPENDENT LIFE
INSURANCE
SHORT AND LONG-TERM DISABILITY
DEPENDENTVISION
DENTAL
Financial Benefits Update
• Workforce Solutions’ Profit Sharing Plan– After 6 months of continuous employment,
Workforce Solutions contributes 7% of your annual salary into our Profit Sharing Plan (401a)
– Along with Social Security it provides the foundation for retirement
– Completely funded by Workforce Solutions
• 457(b) Plan– Long-term savings plan with pre-tax benefits– Most important things to remember:
• START SAVING EARLY - how long you save is more important than how much you save (compounded growth)
• DIVERSIFY your investments to minimize risk
Medical Plan for 2009-2010
• Deductibles– $500 individual/$1500 family deductible
• Out-of-pocket max. – In Network-$2,000 – Out of Network-$4,000
• Co-Insurance– In Network-80%– Out of Network-60%– Doctor’s Co-pay: $20
• Prescriptions– Non-Preferred Brand Name Co-pay: $45– Preferred Brand Name Co-pay: $30 – Generic Drug Co-pay: $15
2009 Health InsuranceEmployee Deductions-BCBS
TOTAL Employer Employee
COST Monthly Monthly Bi-Weekly
Employee Only 324.22 324.22 0
Employee+Spouse 718.69 324.22 394.47 197.24
Employee+Children 669.54 324.22 345.32 172.66
Employee+Spouse+Children 1064.01 324.22 739.79 369.90
How Much Has Workforce Solutions Contributed to the Cost of Medical Coverage for Associates and their
Families During the Past 2 Years?
Employee Emp. + Child (ren)
Emp.+ Family
2008 $273.35 $542.36 $789.75
2009 $324.22 $669.54 $1,064.01
Rates are shown by month.
Overview of Dental Plan - CompBenefits
Care Coverage Diagnostic/ preventive 100%
Minor 80%
Major 50%
Orthodontic max. 50%
Annual maximum per covered individual
$1,000
Major vs. Minor Dental Care (List is not all inclusive)
Examples of Minor Care
Covered at 80%
Misc. Services- Labs & Tests Sealants Space Maintainers Palliative Restorative Services - Including Simple Extractions
Examples of Major Care
Covered at 50%
General Services Anesthesia Stainless Steel Crowns Endodontic Services Periodontal Services Scraping, scaling, root planning Oral Surgery Services Crowns Prosthodontic Services
Dental Reminders
Pre-treatment Estimates• Always get a pre-treatment estimate on any procedure that is expected
to be $150 or moreAlternative Course of Treatment• Sometimes there are several ways to treat a particular dental problem• In determining the amount payable, the dental carrier will provide
benefits for services that meet GENERALLY ACCEPTED DENTAL STANDARDS that will accomplish a SATISFACTORY result
• In this case, benefits may be based on a less costly procedure than what your dentist recommended
• Benefit determinations are NOT treatment decisions. The patient and the dentist make all treatment decisions.
2008-2009 Dental Insurance Employee Deductions - CompBenefits
TOTAL Employer Employee
COST Monthly Monthly Bi-Weekly
Employee Only 17.74 17.74 0 0
Employee+Spouse 36.66 17.74 18.92 9.46
Employee + Children 40.1 17.74 22.36 11.18
Employee+Spouse+Children 65.06 17.74 47.32 23.66
Vision Benefits-CompBenefits
TOTAL Employer Employee
COST Monthly MonthlyBi-
Weekly
Employee Only 4.5 4.5 0 0
Employee+Spouse 11.24 4.5 6.74 3.37
Employee + Children 10.78 4.5 6.28 3.14
Employee+Spouse+Children 17.14 4.5 12.64 6.32
Vision (Cont.)
Vision provider will be CompBenefits
$10 Exam Fee
$15 Lenses/Frames
Term Life Insurance and AD&D
• Boston Mutual is the provider (no changes)
• Available to Employees ONLY • Dependent Life is available through
MetLife Insurance• Benefit Amount: $25,000
Biggest mistake made by employees: Not completing a beneficiary form During Open Enrollment ALL Employees are required to fill out this form.
Employee Additional and Dependent Life Insurance for 2008-2009
**Rate sheet will be passed out for review.
Tuition Reimbursement
• Only work-related courses or those which maintain or improve skills required in their current employment are allowed.
• Courses must be taken at an accredited college, university, approved trade school, or approved technical school.
• On-line courses will only be approved if they are being offered through an accredited institution.
• Employees must complete one year of full time employment to become eligible.
Tuition Reimbursement (cont.)
• Undergraduate Maximum Reimbursement• 2 years of employment $1,500• 3 + years of employment $2,500
• Graduate Maximum Reimbursement• 2 years of employment $1,500• 3 + years of employment $3,000
Reimbursable expenses include tuition, certain administrative fees, laboratory and technical
fees, and required textbooks. Incidental fees such as parking permits, supplies, and recreation fees
are not covered under this plan.
Tuition Reimbursement (cont.)
Before enrolling in a course, employees must apply for education reimbursement and have it approved by his or her supervisor. The education reimbursement forms will be available in the Human Resource Department. Final approval will be determined by President/CEO.
• Reimbursement will be made upon successful completion of the course (a grade of ”B” or better). In order to receive payment, the employee must provide a copy of the official grade report and all relevant receipts.
• Any employee who separates from Workforce Solutions within two (2) years of receiving any tuition reimbursement will be required to repay any tuition paid on his/her behalf during the last twenty-four (24) months of employment. Any amount owed under this tuition reimbursement program becomes immediately due and payable at the time of separation.
Benefits Enrollment Deadline
1 day
to
enroll
AUGUST 2006
STOP
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