Employee Benefits Summary 2015
Welcome to HealthcareSource! Beyond building great talent management software for the healthcare industry, we know our employees are our most valuable assets. We ve created a culture we re very proud of, and define it through our six Live It Values. Our exceptional and comprehensive benefits package, offered to all eligible employees and their families, reflects these values as well. Through our Live It values, we
Employee Benefits You are eligible to participate in all of our benefit offerings on your first day of employment, unless mentioned otherwise. You have 30 days to enroll, and annually we offer open enrollment periods where you may add, subtract, or change your plan options. Please note: This brochure offers benefits information in summary form. Please contact the Benefits Administrator for more detailed descriptions of plan offerings Medical Plan HealthcareSource offers two plan choices through Blue Cross Blue Shield of MA. With these plans come low copays, no deductibles for in-network services, and access to the largest network of providers in Massachusetts as well as the BCBS national network. All medical plans offer a broad array of services, including hospital and physician services, prescription drugs, and preventive benefits. Employees who live both in and out of the New England service area are able to participate in the Blue Care Elect PPO Value Plus Plan. The HMO Blue New England Value Plus plan is available to only those employees who live in the New England service area. Dental Plan Our Dental plan offering through Blue Cross Blue Shield of MA provides great coverage for preventive, basic and major services for you and your family. This plan also offers a competitive orthodontia benefit for children up to age 19. You and your dependents also have access to the annual maximum rollover feature, so you can rollover certain unused portions of your annual maximums to use for services in future years. Vision Plan HealthcareSource offers comprehensive vision insurance through EyeMed. In addition to a large network of vision providers, you also have access to several retail locations, including LensCrafters, Sears Optical, Target, Pearle Vision and others. Flexible Spending Account The Health Care Reimbursement and Dependent Care Assistance Accounts allow you to make pretax contributions to designated accounts from which you can be reimbursed for eligible expenses. Healthcare Reimbursement Account: Allows you to reimburse yourself with pretax dollars for expenses not covered under your medical and dental plan. You are eligible to enroll once each calendar year up to a maximum election of $2,550. Dependent Care Assistance Account: Allows you to reimburse yourself with pretax dollars for dependent care expenses such as; before and after school programs, nursery school or pre-school, licensed child care centers and summer day care. The maximum amount of expense that may be contributed/reimbursed in any Plan Year is $5,000 ($2,500 if you are married and filing a separate return). Life and AD&D Insurance You and your family are important to us. That s why all eligible employees are automatically enrolled in Life and AD&D insurance through Unum after one (1) month of employment. This is offered in the amount of two (2) times your annual base salary to a maximum of $500,000, and is fully paid for by HealthcareSource. You may purchase additional life insurance up to five (5) times your salary to a maximum of $500,000, and supplemental life insurance for your spouse and children through your Unum policy.
Short Term Disability Insurance To make sure you re protected during an illness or injury, eligible employees are automatically enrolled after one (1) month of employment in a short-term disability program through Unum at no cost. This plan provides up to 60% of your base weekly pay, to a maximum of $2,000 weekly for a maximum of 13 weeks. Long-Term Disability Insurance To make sure you re protected from economic hardship during a serious illness, eligible employees are automatically enrolled after one (1) month of employment in a long-term disability program through Unum at no cost. This plan provides up to 60% of your base salary to a maximum of $10,000 per month. Benefits begin after 90 days of total disability. Critical Illness Insurance When a serious illness strikes, critical illness insurance can provide financial support to help you through a difficult time. It can pay you a lump-sum cash benefit, which you can use any way to meet your needs. To help prevent illness, this plan can also pay you an annual cash benefit when you take a covered health screening test. Business Travel Accident Insurance Whether you re flying across the country for a business conference or driving across town to meet with a client, employees that travel on behalf of HealthcareSource are covered in the event of accidental death or dismemberment while on company business. This benefit is fully paid for by HealthcareSource. Retirement Savings Plan You are eligible to contribute to the plan upon your first day of employment provided you have reached the age of 21. You have the option to contribute a percentage of your pay to the plan on either a pre-tax (traditional) or post-tax (Roth) basis or both. Your contributions and earnings are immediately 100% vested, and you can invest your contributions in a variety of investment options offered through HealthcareSource s 401(k) provider, ADP Retirement. For 2015, the 401(k) and or Roth 401(k) contribution limit is $18,000. The 2015 catch-up contribution limit (only for those over age 50) is $6,000. Thinking about your retirement is important, so HealthcareSource offers a discretionary match to participants that are employed at the end of the year. The match amount is based upon the company meeting its financial goals. These contributions are fully vested after two years of service. Tuition Reimbursement Your education and personal development is important to us. Employees can receive up to $2,500 toward qualifying tuition expenses from an accredited institution. This reimbursement can be used for tuition, fees and books. Reimbursement rates are 100% for grades B (3.0) or better. No reimbursement for less than a grade B. Employee Referral Program You know good people, and we like to hire good people. That s why we offer referral bonuses to anyone who refers someone we hire. You and the employee you referred must still be employed 90 days after their hire date to be eligible for the bonus.
Paid Time Off HealthcareSource offers a Paid Time Off (PTO) program that lets you choose how to use your time off whether for vacation, personal time, illness, children s school events, religious observances, or anything else you need to do. We also offer time off for bereavement and jury duty, so you don t have to worry about using your PTO. You have the flexibility to take PTO in either 4 or 8 hour increments, depending on your needs. Full time employees accrue PTO biweekly as shown below. Length of Service Bi-Weekly Accrual Days per Year 0 2.99 years 4.92 hours 16 days 3 5 years 6.46 hours 21 days 5+ years 8.00 hours 26 days We currently allow a maximum of 40 hours to be carried over into next calendar year. Live It Day Take time to celebrate yourself! HealthcareSource employees enjoy one (1) day off per year to celebrate their birthday. Holidays Holidays are important - they re a time to relax and spend time with your family. HealthcareSource employees enjoy 11 paid holidays per year. New Year s Day Presidents Day Memorial Day Independence Day Labor Day (2) Floating Holidays* Columbus Day Thanksgiving Day Turkey Leftover Day Christmas Day *Those hired on or after June 30 receive 1 floating holiday for that calendar year. Those hired on or after October 1 st are not eligible for floating holidays that calendar year. Auto, Home and Life Insurance Discounts You can receive a discount through Liberty Mutual Insurance for auto, home and life insurance just for being an employee of HealthcareSource. Whole You Wellness Program HealthcareSource believes in the importance of your wellness. This program focuses on total wellness and includes monthly wellness-sessions with topics ranging from parenting, financial wellness, and nutrition; fresh fruit and healthy snacks in our office locations; and the opportunity to talk monthly with a nutritionist. In addition, to support team members who want to reach a healthier weight, we will pay 50% of your Weight Watchers membership when you enroll through our corporate program. Pet Insurance We know your family includes some fourlegged friends as well, and wellness care is important to keeping your pets happy and healthy. That s why we offer Pet Insurance through VPI to protect your pets wellness and lower veterinary costs for you. Employee Assistance Program Your wellbeing is important. When or your family members have questions, concerns or emotional issues surrounding your personal or work life, Unum is there to help. Unum s work-life balance employee assistance program (EAP) offers unlimited access to master s level consultants by telephone, resources and tools online, and much more
Benefit Summary Benefit Eligibility Summary Eligibility Plan Year Medical Insurance Immediate January 1 December 31 Dental Insurance Immediate January 1 December 31 Vision Insurance Immediate January 1 December 31 Life & AD&D Insurance After one (1) month of employment January 1 December 31 Short- and Long-Term Disability After one (1) month of employment January 1 December 31 Critical Illness Insurance January 1 January 1 December 31 401(K) Immediate January 1 December 31 Flexible Spending Accounts Immediate January 1 December 31 Supplemental Life Insurance Immediate January 1 December 31 Employee Referral Program Immediate N/A Holidays Immediate January 1 December 31 Paid Time Off (PTO) Immediate January 1 December 31 HealthcareSource Employee Benefit Rates Effective January 1, 2015 Blue Cross Blue Blue Cross Blue Blue Cross Blue Shield Medical HMO Shield Medical PPO Shield Dental EyeMed Vision Employee $48.84 $97.88 $13.02 $3.53 Employee +1 N/A N/A $26.64 N/A Family $128.11 $256.73 $42.78 $9.00 All rates are bi-weekly pre-tax contributions Supplemental Life Insurance Age Band Employee Spouse Child per per $10,000 per $5,000 $2,000 24 $0.51 $0.38 $0.787 25 29 $0.60 $0.43 30 34 $0.76 $0.525 35 39 $1.12 $0.74 40 44 $1.62 $1.045 45 49 $2.30 $1.64 50 54 $3.80 $2.57 55 59 $6.15 $3.97 60 64 $9.40 $6.89 65 69 $16.33 $11.915 70 74 $29.00 $21.255 75 + $29.00 $41.86 All rates are monthly contributions Issue Age Critical Illness Insurance Per $1,000 Non- Tobacco 25 $0.50 $0.76 25 29 $0.55 $0.91 30 34 $0.72 $1.29 35 39 $0.98 $1.89 40 44 $1.39 $2.77 45 49 $1.91 $3.83 50 54 $2.52 $5.10 55 59 $3.32 $6.51 60 64 $4.25 $7.80 65 69 $4.78 $8.13 70 + $8.57 $13.10 All rates are monthly contributions Per $1,000 Tobacco Supplemental AD&D Insurance Employee per $10,000 Spouse per $5,000 Child per $2,000 $0.266 $0.14 $0.056 All rates are monthly contributions