Many of the Company’s benefit plans are described in more detail through formal documents available from the Company. In the event of any inconsistencies between this guide or any other oral or written description of benefits and a formal document, the formal document will govern.
The Company makes group health benefits available to eligible employees and their family members. Eligible Company employees are those with Exempt or Non-exempt employment classifications and a full-time status (excludes Temporary and Internship statuses).
Health insurance applicants may apply for coverage on their Official hire date (end of Contract employment classification). Actual coverage enrollment will occur on the first date of the month, following thirty (30) days of Exempt or eligible Non-exempt employment (e.g. Apply Date 1/15/XX -> Enrollment Date 3/1/XX).
Health benefits for employees alone are paid in part by the Company up to three-fourths (¾) of the rate’s cost. The remainder of the costs is the employee’s responsibility including the full healthcare cost for spouse or family. Employees can receive details about provided benefits, contribution rates, and eligibility from Human Resources.
COBRA Continuation of Healthcare Coverage
The Company, as of January 1, 2018, offers employees and their family members enrolled in the Company's healthcare plan a temporary extension of coverage (called continuation coverage) in certain instances where coverage under the Company's healthcare plan would otherwise end.
Qualifying events may involve voluntary or involuntary termination of employment, a reduction in hours worked, as well as death, divorce, and/or other life events. Qualified individuals may be required to pay the entire premium for coverage up to 102 percent of the cost for the plan.
In the event of voluntary or involuntary termination of employment, or for an employee that is scheduled to see a reduction of hours the Company shall provide further details on continuing coverage at the time of the occurring event. In the event of an employee's death or the employee divorces from their spouse, the Company will offer information on extending coverage for the enrolled spouse or children.
The Company participates in a Traditional 401(k) and Roth 401(k) plan so that employees may save a portion of their earnings for retirement. Exempt and full-time status Non-exempt employees who have worked at least one (1) year from their official hire date are eligible to participate. Employees may elect to make regular contributions to the 401(k) plan up to the maximum amount allowed by federal law. The Company will match employee contributions up to four percent (4%).