HEALTH, LIFE INSURANCE, DISABILITY AND WORK/LIFE BENEFITS FREQUENTLY ASKED QUESTIONS (FAQs)

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1 HEALTH, LIFE INSURANCE, DISABILITY AND WORK/LIFE BENEFITS FREQUENTLY ASKED QUESTIONS (FAQs) For 2016, Medtronic has reshaped its benefits program to provide you and your family the health and insurance benefits you need. While this year s benefit approach brings change for all employees, Medtronic will continue its commitment of providing benefits that are: flexible to fit diverse needs, affordable, competitive and attractive, and a valuable part of your total rewards package. Explore your new benefits and take an active role in selecting your coverage. HEALTH 1. What are my medical plan options for the 2016 plan year? All employees will have a choice of a high-deductible Consumer Health Plan (CHP) with Health Savings Account (HSA) or a traditional PPO Plan. The Health Reimbursement Account (HRA) plan is only offered to legacy Medtronic employees who are currently enrolled in the plan. The HRA plan will not be offered for the 2017 plan year. Employees working in Minnesota and California also have the option of enrolling in the HealthPartners PPO or Kaiser HMO, respectively. Prescription drug coverage is included in each of the medical plans. 2. Who is administering our medical plans? The administrator depends on which medical plan you choose. UnitedHealthcare administers the CHP with HSA; BlueCross Blue Shield (BCBS) administers the PPO and the HRA plans. In addition, HealthPartners administers a PPO plan for employees working in Minnesota and Kaiser administers the HMO for employees working in California. 1

2 Both UHC and BCBS offer nationwide coverage; however, if the administrator for your 2016 medical plan is new to you, you should check their website to determine whether your doctor participates in the plan s provider network. 3. What is an HSA and how does it work? An HSA is a Health Savings Account that you can use to pay for eligible, out-of-pocket health care expenses with pre-tax contributions. To be eligible for the HSA, you must enroll in the Consumer Health Plan (CHP). For 2016, Medtronic will make a special, one-time $400 contribution to your HSA if you enroll in the CHP, and will contribute additional funds $300, $600, or $900 depending on the level of coverage you elect. You can also choose to contribute your own funds to the HSA, up to certain IRS limits. 4. How much can I save in an HSA in 2016? In 2016, you can contribute up to $3,350 if you choose individual CHP coverage and $6,750 if you choose any other level of CHP coverage. These limits include both Medtronic (employer) and your own (employee) contributions. In addition, if you are 55 or older, you can make catch-up contributions, meaning you can deposit an additional $1,000 per year in your HSA. You can make these contributions directly to your HSA (they are not payroll deducted). If your spouse is also 55 or older, he or she may establish their own, separate HSA and make catch-up contributions of $1,000 to that account, as well. 5. Will I lose my HSA funds if I don t use them by the end of the year? There is no use it or lose it rule with an HSA. The money is yours to keep, whether you stay, leave or retire from Medtronic. 6. If I elect the CHP with HSA, do I pay copays for the services I receive? This plan has no copays. Instead, you first must meet your deductible, then you will pay coinsurance (generally 20% for in-network services) until you reach your out-of-pocket maximum. You do have the ability to use your HSA to pay for eligible out-of-pocket medical and prescription drug expenses, including amounts that apply toward the deductible. 7. What types of expenses can I spend my HSA funds on? For a list of eligible expenses, go to

3 8. How do I know if I m eligible to contribute to an HSA? You are eligible to open and contribute to an HSA if: You are covered by an HSA qualifying high-deductible health plan the Consumer Health Plan (CHP) meets this requirement You are not covered by any other health plan that is not a high-deductible plan You are not entitled to Medicare, TRICARE or TRICARE for Life You have not received VA benefits within the past three months You are not claimed as a dependent on someone else s tax return You are not covered by a health care flexible spending account (FSA) 9. What will happen to my HRA balance if I am currently in the HRA Plan and choose to switch to the CHP with HSA? If you switch to the CHP during the 2016 open enrollment and have a balance of $50 or more in your HRA, you will have access to a two-year, limited-purpose HRA through SelectAccount (if you switch during the 2017 open enrollment, you will have access to a one-year limited-purpose HRA through SelectAccount). This means you can still use your remaining HRA funds for dental and vision expenses until you meet the deductible. Once you reach your deductible, you can also use your limited-purpose HRA for eligible medical claims and prescriptions. 10. If I switch to the CHP with HSA and have a limited-purpose HRA, am I automatically eligible to use my HRA for medical claims and prescriptions after I reach my deductible? You must first fill out the Health Plan Deductible Verification Form which allows you to receive reimbursement from your HRA for eligible medical claims and prescriptions. 11. Will I have a debit card to pay for my expenses from the limited-purpose HRA? No, you will submit your claims online at SelectAccount.com or via paper form. Paper forms are available online at SelectAccount.com. For all claims, validation of the eligible expense is required. 12. If I have more specific questions about my limited-purpose HRA, who should I contact? For questions about your HRA, claims processing, or eligible expenses, you can call BCBS Care Advocacy at

4 13. I m a legacy Covidien employee with a current mail order prescription through Catamaran. Will I be able to continue receiving my remaining refills? If you have a remaining refill with the Catamaran mail order pharmacy and you enroll in the CHP or PPO plan, it will automatically transfer to the Prime mail order pharmacy prior to January 1, What dental benefits will be offered? You will have the choice of two dental options administered by Delta Dental: the Basic Plan and Comprehensive Plan. For both plans, preventive care, such as dental checkups, is covered at 100%. You will pay coinsurance for basic procedures, such as fillings. Major procedures and orthodontia are covered under the Comprehensive Plan, but not under the Basic Plan. 15. I m a legacy Covidien employee with a covered child in the middle of orthodontic treatment. How will that be handled by the new dental plan? If you or your covered dependent are receiving orthodontia treatment, you will need to have the provider supply your (or your dependent s) orthodontia history to Delta Dental, including the following information: treatment type, total fee for treatment, how many months the treatment will last, provider signature, and a claim form completed by you and/or the provider. Your payments will be pro-rated based on the number of months of treatment remaining and your (or your dependent s) eligibility status. 16. What vision benefits will be offered? The vision benefit plan is administered by VSP and covers vision exams, prescription glasses and/or contact lenses. This benefit provides a $180 allowance toward a purchase of frames and/or contacts. 17. Who is administering the Flexible Spending Accounts (FSA)? The administrator of the health care and dependent day care flexible spending accounts is WageWorks. 18. Is there still a use it or lose it rule for flexible spending accounts (FSAs)? Yes. However, Medtronic allows employees to rollover up to $500 in unused healthcare FSA funds from one year to the next. This new feature will apply to legacy Covidien employees

5 starting in In other words, up to $500 unused FSA funds from 2016 will be eligible for carryover into What if I have a health care FSA in 2015 but I want to enroll in the CHP with HSA for 2016? What happens to my FSA? To be eligible for employer contributions to your HSA in January 2016, you cannot also be covered by an FSA - unless it is a limited-purpose FSA. Because your current FSA is not a limitedpurpose FSA, you can only be reimbursed for eligible expenses incurred by December 31, If you are a legacy Medtronic employee, you have until February 29, 2016 to submit receipts for reimbursable claims, that is, claims for eligible expenses incurred in calendar year If you are a legacy Covidien employee, you have until March 31, 2016 to submit receipts for reimbursable claims. After that date, any amount that remains unused in your FSA will be forfeited. 20. As a legacy Medtronic employee, do I still have access to Accolade? Medtronic will no longer be offering the Accolade concierge service. Instead you can go directly to your health insurance carrier for any services previously provided by Accolade. We believe this approach will simplify how you manage your benefits with the health plan providing integrated administrative, provider, clinical and decision support. If you are currently working with an Accolade Health Assistant, we ll work to ensure a smooth transition back to the health plan. 21. If I have a domestic partner or same-sex spouse, will he or she be eligible for coverage? With the recent Supreme Court ruling upholding same-sex marriage, Medtronic will cover only opposite and same sex spouses beginning in 2016 with one important exception: If you currently have a domestic partner and his/her eligible children enrolled in your plan, your coverage will be grandfathered so you may continue Medtronic health or life coverage for these family members. PAYROLL CONTRIBUTIONS 22. If I am a legacy Covidien employee, will my payroll contributions for medical coverage still be based on my salary?

6 All legacy Covidien employees will gradually transition away from salary-based contributions over a three-year period. For 2016, your payroll contributions for medical coverage will be based on your salary level; however, by 2018 all Medtronic employees will make the same contributions for medical coverage. 23. Why is there a difference between the legacy Covidien and legacy Medtronic medical contributions? The legacy Covidien contribution rates appear higher for two reasons: 1) The legacy Covidien rates DO NOT reflect the Health Incentive Account credits, while the legacy Medtronic rates DO reflect that employees have completed the 2015 wellness program requirements. Legacy Covidien employees who have completed Health Incentive Account requirements can find the bi-weekly credit that will apply to their rates on the Legacy Covidien contributions on this site by going to Health Benefits > Medical Plan Details > Legacy Covidien Contributions. Simply subtract the relevant bi-weekly credit from the bi-weekly contribution for the coverage you are interested in to determine the bi-weekly cost. (For more information about the wellness incentives, see question 31.) 2) Legacy Covidien has a salary-based contribution approach which factored in income level when determining employee cost for medical coverage. Medtronic has a standard approach where all employees pay the same cost regardless of income level. Therefore, it s not possible to compare a legacy Covidien rate for family coverage with a legacy Medtronic rate for the same coverage. However, legacy Covidien will be transitioning to Medtronic s standard approach over three years (starting in 2016). So rates will gradually even out over time and, in 2018, all employees will be paying the same for the coverage they select, regardless of income level. Until then, you will see differences in costs between the two legacy companies. 24. Will the medical contributions that I pay change if I transfer positions (i.e. from one legacy organization to the other)? No. Regardless of your position, if you are a legacy Covidien employee, you will continue to pay salary-based contributions until At that time, the three-year transition from salary-based contributions will be complete and all Medtronic employees will make the same contributions for medical coverage.

7 25. Will my health care costs go up this year? For all employees, costs will slightly increase due to overall health care trends. Legacy Covidien employees will also experience an increase due to the three-year transition away from salary-based pricing. 26. Do I have to pay extra if I include my spouse under my medical coverage? If you choose to enroll your spouse in a Medtronic medical plan and he or she is eligible for employer coverage elsewhere, you will be charged a $100 monthly surcharge. 27. I am a legacy Covidien employee and did not previously pay a spousal surcharge. Why has the policy changed? This is becoming a more common approach to help companies keep coverage affordable for employees and their dependents who do not have other sources of coverage available. 28. How will you know if my spouse has other medical coverage available? During open enrollment, all employees covering their spouse need to complete the health care coverage question in Workday (Benefits Dependent Edit). If your spouse has other coverage available and you choose to cover him/her under your medical plan, you will pay the surcharge. 29. What if my spouse also works at Medtronic and I cover them under my medical plan. Will we have to pay the surcharge? No, you will not be subject to the surcharge. You should respond No to the health care coverage question in Workday. 30. What if my spouse does not have employer sponsored coverage available but has coverage through Medicare or Medicaid?

8 The surcharge will apply if your spouse has other medical coverage available through his or her own employer. The surcharge will not apply if the other medical coverage available is government funded (e.g., Medicare, Medicaid), rather than available through employment. WELLNESS 31. What happens to the wellness incentives I earned at my legacy company? All incentives earned in 2015 at legacy Covidien or legacy Medtronic will apply to 2016 medical contributions. 32. Is my spouse allowed to participate in Healthier Together? Yes, your spouse or domestic partner (if eligible under Medtronic s benefit plans) may participate. 33. Will Medtronic contribute to my gym membership? Yes, frequent fitness programs are available as part of each medical plan (exception: Kaiser HMO). If you exercise 12 times or more per month, you can save up to $20 on your gym membership each month. For legacy Covidien employees, the frequent fitness programs replace any current local, fitness center / gym reimbursement programs. OTHER BENEFITS 34. Does Medtronic provide any company-paid life or disability coverage? Yes, Medtronic provides basic life insurance equal to one times your Annual Benefits Base Rate, or ABBR. Medtronic also provides salary continuation, also known as short-term disability, and basic long-term disability at no cost to you. You have the option of purchasing additional life insurance and long-term disability coverage. 35. What is ABBR and how is it used?

9 ABBR stands for the Annual Benefits Base Rate (ABBR) and is used to determine your basic life insurance and long-term disability benefit amounts. It includes base salary as of January 1, plus a three-year average of variable pay, such as commissions and the Medtronic Incentive Plan. ENROLLMENT 36. When do I have to enroll in my benefits? Legacy Medtronic and legacy Covidien will have different open enrollment periods for If you are a legacy Medtronic employee, open enrollment begins on November 1 and lasts until November 14. If you are a legacy Covidien employee, open enrollment runs from December 28 to January 7. Because your benefit options have changed this year, it s important to spend some time reviewing all your options before making a selection. 37. How will legacy Covidien employees enroll for 2016 benefits? Legacy Covidien employees will enroll using Workday, Medtronic s system for employmentrelated information and transactions. 38. Why is the enrollment period so late for legacy Covidien employees? Medtronic is in the process of introducing Workday to all legacy Covidien employees. Due to the transition to Workday, legacy Covidien employees will enroll at a later time for just this year. 39. What happens if I don t actively enroll for 2016 benefits? All employees will experience change to their benefit options and cost. We encourage you to carefully review your choices for For legacy Medtronic employees: If you choose not to enroll, you will default to your current elections and coverage levels. However, you must actively enroll to utilize a Health Care and/or Dependent Day Care Flexible Spending Account (FSA) or employee HSA contributions if you enroll in the CHP. You must complete the spouse health care coverage question in Workday between November 1 and January 1; otherwise, if your spouse is enrolled in a Medtronic medical plan and they are eligible for employer coverage elsewhere, you will pay a $100 monthly surcharge ($46.15 per paycheck).

10 For legacy Covidien employees: Your current coverage will be mapped to similar coverage under the new benefits program. You have the opportunity to make changes to your mapped coverage from December 28 to January 7. You must actively enroll to utilize a Health Care and/or Dependent Day Care Flexible Spending Account (FSA) or employee HSA contributions if you are enrolled in the CHP. You must complete the spouse health care coverage question in Workday between December 28 and January 31; otherwise, if your spouse is enrolled in a Medtronic medical plan and they are eligible for employer coverage elsewhere, you will pay a $100 monthly surcharge ($46.15 per paycheck). 40. If I am a legacy Covidien employee, how will I know what coverage I will be mapped to? A benefits confirmation statement will be mailed to your home in mid-december. This statement will show you the health and life benefits you will be enrolled in for 2016 unless you make changes by January What level of long-term disability coverage will I be enrolled in? Legacy Covidien and legacy Medtronic employees who are eligible for long-term disability (LTD) will automatically be enrolled in the highest level of coverage. This includes basic (employer paid) long-term disability coverage and the additional Option 2 (employee paid) long-term disability coverage. If you do not want the additional employee paid long-term disability coverage, you can reduce your LTD coverage to Option 1 or drop the employee paid coverage entirely at any time. 42. When will I receive my ID cards? All employees will receive their medical ID cards in late December. Your medical ID card includes prescription drug coverage. If you re a legacy Covidien employee and make changes to your mapped benefits from December 28 to January 7, you will receive updated ID cards in January, days after your benefit changes are processed. If you are a legacy Medtronic employee with current coverage under the Kaiser HMO or Delta Dental, you will not receive a new ID card unless you make changes during open enrollment.

11 43. What if I don t know what benefit coverage is best for me and/or my family? Take advantage of ALEX: Benefits Minus the Boring, your online virtual benefits guide. Alex will help you understand your options and how to navigate them to find the right coverage for you and your family. You can also refer to benefits.medtronic.com or HROC/AskHR for more information. 44. What if I change my mind about my choices after I enroll? Legacy Medtronic employees have a correction period from November 23 to December 1. During this time, you can change your 2016 benefit selections. If you are a legacy Covidien employee, you will have the opportunity to make changes to your mapped coverage from December 28 to January Do I need to update my life insurance beneficiary information? If you re a legacy Covidien employee, you must add your life insurance beneficiary information in Workday when you enroll for benefits. Prior beneficiary designations will not carry over. If you are a legacy Medtronic employee, you may update your beneficiary information, if needed, during enrollment. 46. Where do I go if I have specific questions on benefits and enrollment? To learn more about your benefits and for updates and information, go to benefits.medtronic.com. And, remember to use ALEX: Benefits Minus the Boring, your virtual benefits guide! For legacy Medtronic employees, contact the Human Resources Operations Center at or call or For legacy Covidien employees, contact AskHR at or call

12 This communication was prepared in accordance with the Employee Retirement Income Security Act of 1974, as amended. It describes the key features of various Medtronic employee benefit plans that provide medical, wellness, other health, life insurance and disability benefits and retirement, time-away and work/life benefits. The purpose of this communication is to give you a general understanding of the benefits available under the various Medtronic benefit plans. This communication represents only general summary information about the terms contained in the official plan document. While we have made every effort to make this communication as accurate as possible, if there are any inconsistencies between this communication and the applicable plan document, the terms of the applicable plan document shall govern. Also, any questions or interpretations concerning benefits provided under the applicable plan will be resolved using the terms of the applicable plan document, not this communication. No person can make any statements of any kind that alter the terms of the applicable plan document. Accordingly you should not consider the applicable plan to have been amended based on written or oral statements made by any employee, officer, director or representative of Medtronic, including supervisors and Human Resources representatives. If you believe that you have received information contrary to the terms of the applicable plan or this communication, please contact the Human Resource Operations Center (HROC) at or by at (legacy Medtronic employees) or AskHR at or by at (legacy Covidien employees). These benefits are not automatically applicable to employees in collective bargaining units whose terms and conditions of employment, including benefits, are subject to the collective bargaining process.

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