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Employee Benefits for full-time employees of

Employee Benefits for full-time employees of. What is the Significance of Employment Based Benefits?. Economies of Scale Tax Advantages Payroll Deductions Convenience Pre-Tax or After-Tax Employer Contributions. Eligibility. Full-Time Employment 30+ Hours Per Week

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Employee Benefits for full-time employees of

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  1. Employee Benefits for full-time employees of

  2. What is the Significance of Employment Based Benefits? • Economies of Scale • Tax Advantages • Payroll Deductions • Convenience • Pre-Tax or After-Tax • Employer Contributions

  3. Eligibility • Full-Time Employment • 30+ Hours Per Week • First of the Month Following 30 Days

  4. Core Benefits • Group Term Life Insurance

  5. Group Term Life • 1 x Annual Earnings • $250,000 Maximum • Benefits Reduce at Age 65 and 70 • Living Benefit - 50% of Life Benefit to $100,000 Maximum • Conversion Available

  6. Core Benefits • Group Term Life Insurance • Accidental Death & Dismemberment

  7. Accidental Death • 1 x Annual Earnings • Benefits Reduce at Age 65 and 70 • Seatbelt Benefit • Airbag Benefit

  8. Core Benefits • Group Term Life Insurance • Accidental Death • Long Term Disability

  9. Long Term Disability • Monthly Benefit • 60% After 90 Days • $5,000 Maximum • To Age 65 EXCLUDES PRE-EXISTING CONDITIONS

  10. Core Benefits • Group Term Life Insurance • Accidental Death • Long Term Disability • Employee Assistance Program

  11. Employee Assistance Program 1-800-327-4692 • Employee and Household Members • 3 Free Visits Per Incident • Professional Services • Confidential • 24 Hour Assistance

  12. Benefit Options • You Decide Each Year: • Health Care Plans • Alliance Select PPO

  13. Health Care PlanAlliance Select PPO

  14. Benefit Options You Decide Each Year: • Health Care Plan • Voluntary Life Insurance

  15. Voluntary Life • Guarantee Issue - $80,000 (New Hires) • Maximum $500,000 • Benefits Reduce at Ages 65 and 70 • Living Benefit - 50% of Life Benefit to $100,000 Maximum • Conversion and Portability Available • Eligible Employees - 30+ Hours/Week • Age Rated

  16. Voluntary Dependent Life • Spouse • 50% of Employee’s Coverage to $50,000 Maximum • Guarantee Issue- $20,000 • Age Rated • Children • 25% of Employee’s Coverage to $10,000 Maximum

  17. Benefit Options You Decide Each Year: • Health Care Plan • Voluntary Group Life Insurance • Voluntary Short Term Disability

  18. Voluntary Short Term Disability • Weekly Benefit • 60% to $500 Weekly Maximum • 1st Day Accident / Injury • 8th Day Sickness • Up to 13 Weeks Benefit Duration • 12/12 Pre-Existing Conditions • Age Rated

  19. Benefit Options You Decide Each Year: • Health Care Plan • Voluntary Group Life Insurance • Voluntary Short Term Disability • Voluntary Dental Plan

  20. Voluntary Dental Plan • $50 Deductible Per Person • Waived for Preventive • 100% Preventive Care • 80% Basic Care • Major Care • 1st Year - 10%, 2nd Year - 25%, 3rd Year - 50% • $1,500 Annual Maximum Benefit This is a brief description only. Details are in your benefit booklet.

  21. Voluntary Dental Plan • Orthodontia Benefits • No Annual Deductible • 50% Coinsurance • 24 Month New Entrant Waiting Period • $1,000 Lifetime Benefit This is a brief description only. Details are in your benefit booklet.

  22. Benefit Options You Decide Each Year: • Health Care Plan • Voluntary Group Life Insurance • Voluntary Short Term Disability • Voluntary Dental Plan • Flexible Benefit Plan

  23. Flexible Benefit Plan • Premiums • Health and Dental Premiums • Other Qualified Premiums • Pre-tax (FIT, SIT, FICA) • Annual Election • Family Status Change

  24. Flexible Benefit Plan • Unreimbursed Medical Expenses • Health, Dental, Vision & Other Expenses • Pre-tax (FIT, SIT, FICA) • Deductibles, Copays & Coinsurance • $1,500 Annual Maximum • Annual Election • Family Status Change

  25. Flexible Benefit Plan • Dependent Care Expenses • Children Age 13 < • Pre-tax (FIT, SIT, FICA) • $5,000 Maximum (Joint & HH) • Annual Election • Family Status Change

  26. Flex Plan Overview Flex Increased Income $71!

  27. Employee Contributions • Group Term Life 0% • Accidental Death 0% • Long Term Disability 0% • EAP 0% • Voluntary Life 100% • Voluntary STD 100% • Voluntary Dental 100%

  28. Employee ContributionsHealth Care Plan PPO Single $ 60.27 EE / Spouse $123.42 EE / Children $105.08 Family $160.62 *Bi-Weekly Deduction

  29. What Happens Next? • Complete Enrollment Forms • Contact LMC with Questions • Return Enrollment Forms to Debby Hauk

  30. THANK YOU!! Questions may be directed to De Ann Spicer at 800-677-1529 ext. 158 or deanns@lmcins.com

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