EMPLOYEE BENEFITS 2020 - First Financial Bank
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EMPLOYEE BENEFITS 2020
FIRST FINANCIAL BANKSHARES
BENEFITS
At First Financial Bankshares, Inc., our medical plan is self-insured. What does this mean? This
means that First Financial Bankshares, Inc., not an insurance company, assumes the financial risk for
your medical expenses. We utilize United Healthcare to process claims for our medical plan and to
provide access to a network of providers. However, because this plan is self-insured, First Financial
Bankshares, Inc. assumes full responsibility for the cost of all claims. For example, if an employee
becomes ill, we will pay the cost of that person’s covered services over and above any applicable out-
of-pocket expenses such as copayments and deductibles that are paid by the employee. As a result,
First Financial Bankshares, Inc., not the insurance company, is responsible for paying the majority
of your covered services. As healthcare costs continue to rise, our company’s potential share of the
costs also increases. Therefore, as a business, it is important that we continue to effectively manage
our benefits programs.
Since we all share in the cost of healthcare benefits, looking for ways to control costs is everyone’s
responsibility. While First Financial Bankshares, Inc. pays the majority of the costs to provide a
valuable benefits program for you and your family, sharing the cost enables us to continue to provide
comprehensive coverage despite the cost-related challenges in the healthcare industry. By partnering
with you, we can ensure that our healthcare initiative will be successful. This means that we need you
to use your medical plan wisely and be a smart, conscious healthcare consumer.
What can you do?
»» Talk with your doctor to understand and explore all treatment options.
»» Check all medical bills and statements to make sure they are accurate.
»» Inform your doctor that your prescription has a 3-tier copayment structure and request
generics whenever possible.
»» Use the mail-order program for prescription drugs.
»» Review your Explanation of Benefits (EOB) and confirm they are consistent with medical bills
and statements from providers.
»» Utilize in-network providers as much as possible.
»» Avoid using urgent care or emergency rooms for non-lif- threatening situations.
»» Utilize the tools on MyUHC or the UnitedHealthcare mobile app.
TABLE OF CONTENTS
4 Important Contacts
5 Eligibility & Enrollment
7 Preparing For Open Enrollment
We all work together to make
First Financial Bank a success, 8 Medical Benefits
and our teamwork extends 10 Out-of-Pocket Costs
to your benefits. Your health
and well-being are important 15 Virtual Medicine
to us, so we provide benefit
options to make your and
16 Pharmacy Benefits
your family’s lives better. 17 Health Savings Account
Together, let’s invest in
you. Read over this guide 19 Flexible Spending Accounts
for details on your 2020 21 FSA Vs HSA
benefits from A to Z. If you
have questions, your Human 22 Dental Benefits
Resources department is
here to help.
23 Vision Benefits
24 Survivor Benefits
27 Income Protection
28 Retirement Planning
30 Additional Benefits
31 Glossary
33 Required Notices
See page 33 for important information
concerning Medicare Part D coverage.
In this Guide, we use the term company to refer to First Financial Bank. This Guide is intended to
describe the eligibility requirements, enrollment procedures and coverage effective dates for the
benefits offered by the company. It is not a legal plan document and does not imply a guarantee
of employment or a continuation of benefits. While this Guide is a tool to answer most of your
questions, full details of the plans are contained in the Summary Plan Descriptions (SPDs),
which govern each plan’s operation. Whenever an interpretation of a plan benefit is necessary,
the actual plan documents will be used.
IMPORTANT CONTACTS
MEDICAL FLEXIBLE SPENDING EMPLOYEE ASSISTANCE
United Healthcare ACCOUNTS PROGRAM
855-520-2002 United Healthcare Life Balance
www.myuhc.com 855-520-2002 800-854-1446 (English)
Policy #: 903855 www.myuhc.com 877-858-2147 (Spanish)
UnitedHealthcare app www.lifebalance.net
LIFE AND AD&D
VIRTUAL VISITS UNUM TRAVEL ASSISTANCE
United Healthcare 800-854-1446 UNUM Assist America
www.myuhc.com www.unum.com 800-872-1414
Policy #: 571708 (Basic Life/AD&D) medservices@assistamerica.com
DENTAL Policy #: 571710 (Supplemental Life)
Ameritas FIRST FINANCIAL BANK
Claims: 800-487-5553 DISABILITY HUMAN RESOURCES
Admin: 800-659-2223 UNUM 401 Cypress Street, Suite 300
www.ameritas.com 800-854-1446 Abilene, TX 79601
Policy #: 400435 www.unum.com 325-627-7171
Policy #: 571708 (LTD)
VISION Policy #: 571709 (STD)
Ameritas (Vision Service Plan)
800-877-7195
www.vsp.com
Policy #: 400435
HEALTH SAVINGS
ACCOUNT
First Financial Bank
Please reach out to your local branch
retail manager
4
ELIGIBILITY & ENROLLMENT
You’re a valued member of First Financial Bank, and your health and well-being are important
to us. We are proud to provide you and your dependents with valuable and significant benefits.
This guide is an overview of the benefits available to you and their impact on your hard-earned
compensation. Please read it carefully in order to make the best choices for you and your family in
the 2020 plan year and consult your HR representative with any questions.
Eligibility Eligible Dependents
If you are a full-time employee of First Financial Bank who is Dependents eligible for coverage in the First Financial
regularly scheduled to work at least 30 hours per week, you Bank benefits plans include:
are eligible to participate in the medical, dental, vision, »» Your legal spouse (or common-law spouse where
life and disability plans and additional benefits. recognized).
»» Children up to age 26 (includes birth children,
When Does Coverage Begin? stepchildren, legally adopted children, children
Your elections are effective on the first day of the month placed for adoption, foster children and children for
following employment. You won’t be able to change your whom legal guardianship has been awarded to you
benefits until the next enrollment period unless you or your spouse).
experience a qualifying life event. »» Dependent children 26 or more years old,
unmarried and primarily supported by you and
incapable of self-sustaining employment by reason
of mental or physical disability which arose while the
child was covered as a dependent under this plan
(periodic certification may be required).
Verification of dependent eligibility is required upon
enrollment.
Thoughts & Tips: You CANNOT change
your benefit selections during the plan year
unless you have a qualifying life event, such
as marriage and/or the birth or adoption of
a child.
5
Enroll Now. You’ve Got One Shot!
What are Qualifying Life Events?
Most people know you can change your benefits when you start a new job or during Open Enrollment. But did you
know that changes in your life may permit you to update your coverage at other points in the year? Qualifying Life
Events (QLEs) determined by the IRS could allow you to enroll in health insurance or change your elections outside of
the annual time.
Common
qualifying
events include:
A change in your employment status from full time to
part time, or part time to full time, resulting in a gain
or loss of eligibility
A change in your legal Entitlement to
marital status (marriage, Medicare or Medicaid
divorce or legal separation)
A change in the number of Eligibility for coverage
your dependents (for example, through the Marketplace
through birth or adoption,
or if a child is no longer an
eligible dependent)
Changes in your address
A change in your spouse’s or location that may
employment status affect the coverage for
(resulting in a loss or gain which you are eligible
of coverage)
Some
lesser-known
qualifying
events are:
Turning 26 and losing coverage Changes that make you no longer
through a parent’s plan eligible for Medicaid or the Children’s
Health Insurance Program (CHIP)
Death in the family (leading to change in
dependents or loss of coverage)
When a Qualifying Life Event occurs, you have 31 days to request changes to your coverage. Keep in mind your change
in coverage must be consistent with your change in status.
Questions regarding specific life events and your ability to request changes should be directed to First Financial Bank’s
Human Resources. Don’t miss out on a chance to update your benefits!
6
PREPARING FOR OPEN ENROLLMENT
As a committed partner in your health, First Financial Bank absorbs a significant amount
of your benefit costs. Your contributions for medical, dental and vision benefits are
deducted on a pre-tax basis, lessening your tax liability. Please note that employee
contributions vary depending on level of coverage. Typically, the more coverage you have,
the higher your portion.
You may select any combination of medical, dental and/or vision plan coverage. For example, you could select medical
coverage for you and your entire family, but select dental and vision coverage only for yourself. The only requirement
is that you, as an eligible employee of First Financial Bank, must elect coverage for yourself in order to elect any
dependent coverage.
Open Enrollment To-Do
U pdate your Consider your HSA or FSA.
personal information. An HSA or FSA can help cover healthcare
costs including dental and vision services and
If you’ve experienced a qualifying life event
prescriptions. Adding one of these accounts
in the last year, you may need to change your
to your benefits can help with your long-term
elections or update your details.
financial goals – and your employer may help
contribute.
Double-check covered and
restricted medications. Check to see if your
If you make any changes to your plan, consider pharmacy is in-network.
how it affects your prescription coverage.
Going in-network often saves you money.
Check for any plan changes to make sure your
eview available plans’
R favorite pharmacy is still your best bet and is
covered in-network.
deductibles.
Take a look at your options – if you foresee a
lot of medical needs this year, you might want
a lower deductible. If not, you could switch to a
higher deductible and enjoy lower premiums.
7
MEDICAL BENEFITS
Medical Premiums
What can I do to help keep
Premium contributions for medical are deducted from
your paycheck on a pre-tax basis. Your level of coverage
my costs down?
determines your monthly contributions. Use network doctors and facilities
Try to use UnitedHealthcare network providers when
possible. Doctors and facilities in UnitedHealthcare’s
How to Find a Provider
network have agreed to provide services at a discount, so
Visit www.myuhc.com or call Customer Care at
staying in network makes more financial sense. An out-of-
855-520-2002 for a current list of United Healthcare
network provider is a doctor, health care professional or
network providers.
facility (such as a hospital) that isn’t under a contract with
UnitedHealthcare. Out-of-network providers may charge
Healthcare Cost Transparency more for their services and bill you for what your health
With options like High Deductible Health Plans and plan doesn’t pay for (called balance billing). Providers that
Flexible Spending Accounts, your healthcare spending is participate in UnitedHealthcare’s network are not allowed
in your control. But with so many providers and varying to balance bill members. You can visit the “Find Physicians
costs for services, how do you decide where to go? & Facilities” section of the myuhc.com member website
Healthcare cost transparency tools are online services to determine whether the facility you are considering has
available through most health insurance carriers that in-network medical professionals.
allow consumers to compare costs for medical services, Understand your benefits
from prescriptions to major surgeries, to make choices It’s a good idea to get familiar with what’s covered by
easier. To learn more, visit www.myuhc.com. your plan. You can save money by choosing services and
providers in your network. You should be able to find
Rising Costs of Healthcare plan coverage details at myuhc.com. Click on “Benefits &
The cost of healthcare in the U.S. has been steadily Coverage” menu, and then click on “Coverage Documents.”
growing each year. Why? Some of the factors include an If you cannot find your coverage details online, you can get
aging population, increased demand for care (resulting in a free, printed copy by calling the Customer Care phone
higher prices for premiums and prescription drugs) and number on your health plan ID card.
an increase in chronic illnesses. The Company wants
to help keep you healthy, so we do what we can to
keep your healthcare costs reasonable. Make sure
you’re informed about your options so you can make
the best healthcare choices for you and your family.
Placing an importance on preventive care, making healthy
choices, and managing costs will help keep your health —
and wallet — in control in the long run.
8
MEDICAL BENEFITS
Medical benefits are provided through United Healthcare. Choose the plan that works
best for your life. Consider the physician networks, premiums and out-of-pocket costs for
each plan. Keep in mind your choice is effective for the entire 2020 plan year, unless you
have a qualifying life event.
MONTHLY COST
PPO PLAN HDHP WITH HSA-
NON-TOBACCO SURCHARGE NON-TOBACCO SURCHARGE
MONTHLY CONTRIBUTIONS
EMPLOYEE COST EMPLOYER COST TOTAL PREMIUM EMPLOYEE COST EMPLOYER COST TOTAL PREMIUM
EMPLOYEE ONLY $69.97 $814.97 $884.94 $49.64 $814.97 $864.61
EMPLOYEE + SPOUSE $628.58 $814.97 $1,443.55 $596.77 $814.97 $1,411.74
EMPLOYEE + CHILD(REN) $409.77 $814.97 $1,224.74 $389.46 $814.97 $1,204.43
EMPLOYEE + FAMILY $931.45 $814.97 $1,746.42 $884.32 $814.97 $1,699.29
PPO PLAN HDHP WITH HSA-
WITH TOBACCO SURCHARGE WITH TOBACCO SURCHARGE
EMPLOYEE COST EMPLOYER COST TOTAL PREMIUM EMPLOYEE COST EMPLOYER COST TOTAL PREMIUM
EMPLOYEE ONLY $108.97 $814.97 $923.94 $79.64 $814.97 $894.61
EMPLOYEE + SPOUSE $667.58 $814.97 $1,482.55 $626.77 $814.97 $1,441.74
EMPLOYEE + CHILD(REN) $448.77 $814.97 $1,263.74 $419.46 $814.97 $1,234.43
EMPLOYEE + FAMILY $970.45 $814.97 $1,785.42 $914.32 $814.97 $1,729.29
VP AND ABOVE MONTHLY COST
PPO PLAN HDHP WITH HSA-
NON-TOBACCO SURCHARGE NON-TOBACCO SURCHARGE
MONTHLY CONTRIBUTIONS
EMPLOYEE COST EMPLOYER COST TOTAL PREMIUM EMPLOYEE COST EMPLOYER COST TOTAL PREMIUM
EMPLOYEE ONLY $121.93 $814.97 $963.90 $87.02 $814.97 $901.99
EMPLOYEE + SPOUSE $816.62 $814.97 $1,631.59 $767.43 $814.97 $1582.40
EMPLOYEE + CHILD(REN) $544.35 $814.97 $1,359.32 $509.61 $814.97 $1324.60
EMPLOYEE + FAMILY $1,193.12 $814.97 $2,008.09 $1,126.72 $814.97 $1941.70
PPO PLAN HDHP WITH HSA-
WITH TOBACCO SURCHARGE WITH TOBACCO SURCHARGE
EMPLOYEE COST EMPLOYER COST TOTAL PREMIUM EMPLOYEE COST EMPLOYER COST TOTAL PREMIUM
EMPLOYEE ONLY $187.93 $814.97 $1,002.90 $132.02 $814.97 $946.99
EMPLOYEE + SPOUSE $882.62 $814.97 $1,697.59 $812.43 $814.97 $1,627.40
EMPLOYEE + CHILD(REN) $610.35 $814.97 $1,425.32 $554.61 $814.97 $1,369.58
EMPLOYEE + FAMILY $1,259.12 $814.97 $2,074.09 $1,171.72 $814.97 $1,986.69
IN-NETWORK OUT-OF-NETWORK IN-NETWORK OUT-OF-NETWORK
CALENDAR YEAR DEDUCTIBLE
INDIVIDUAL $750 $1,500 $3,000 $5,000
FAMILY $2,250 $4,500 $6,000 $10,000
COINSURANCE (YOU PAY) 20%* 40%* 0%* 30%*
CALENDAR YEAR OUT-OF-POCKET MAXIMUM (MAXIMUM INCLUDES DEDUCTIBLE)
INDIVIDUAL $4,000 $8,000 $3,000 $7,500
FAMILY $12,000 $24,000 $6,000 $15,000
9
Medical Premiums PPO PLAN HDHP PLAN
IN-NETWORK OUT-OF-NETWORK IN-NETWORK OUT-OF-NETWORK
COPAYS/COINSURANCE
PREVENTIVE CARE
Routine phsycial exams, well baby care, immunizations for 6 years +, Fully covered 40%* Fully covered 30%*
routine labs, x-rays, and hearing exams
IMMUNIZATIONS BIRTH TO 6 YEARS Fully covered Fully covered
VIRTUAL VISIT $15 copay Not Covered $50*** Not Covered
PRIMARY CARE VISIT $30 copay 40%* 0%* 30%*
SPECIALIST VISIT $40 copay 40%* 0%* 30%*
ALLERGY TREATMENT/INJECTIONS
20%* 40%* 0%* 30%*
Without office visit
OUTPATIENT INDEPENDENT
20%* 40%* 0%* 30%*
X-RAY & LAB FACILITY
INPATIENT HOSPITAL SERVICES
Semi-private room and board, diagnostic/therapeutic lab and x-ray, $200
20%* per admission copay 0%* 30%*
drugs and medication, operating and recovery room, radiation plus 40%*
therapy and chemotherapy, anesthesia and inhalation therapy
INPATIENT HOSPITAL
20%* 40%* 0%* 30%*
Doctors visits/consultations and professional services
PHYSICIAN & OUTPATIENT PROFESSIONAL SERVICES
Operating room, recovery room, procedure room, treatment
20%* 40%* 0%* 30%*
room, anesthesia and inhalation therapy, and diagnostic/
therpeutic labs and x-rays
Fully covered
(excluding
INDEPENDENT X-RAY & LAB FACILITY certain diagnostic
40%* 0%* 30%*
procedures)
MRIS, CAT SCANS, AND PET SCANS 20%* 40%* 0%* 30%*
URGENT CARE $75 copay per visit 40%* 0%* 30%*
20% of charges after $300 copay
HOSPITAL EMERGENCY ROOM (copay waived if admitted)
0%*
AMBULANCE** 20%* 0%*
INPATIENT SERVICES AT OTHER HEALTH CARE FACILTIES
Skilled Nursing (60 day limit per calendar year), Home Health Fully covered 40%* Fully covered 30%*
Care (60 visit limit per calendar year), and Hospice Care (no limit)
$30 copay per office
SHORT-TERM REHABILITATIVE THERAPY visit
40%* 0%* 30%*
Includes cardiac rehab, physical, speech, and occupational therapy 20%* for inpatient
services
CHIROPRACTIC OFFICE VISIT $30 copay per visit 40%* 0%* 30%*
CHIROPRACTIC TREATMENT SERVICES 20%* 40%* 0%* 30%*
Inpatient: 20%* Inpatient: 40%*
plus $200 copay per Inpatient: 0%* Inpatient: 30%*
Outpatient Outpatient Outpatient
Behavioral Health admission
MENTAL HEALTH SERVICES & SUBSTANCE ABUSE Outpatient Behavioral Health Behavioral Health
Expenses: $30 copay
TREATMENT Behavioral Health Expenses: 0%* Expenses: 30%*
per visit Expenses: 40%*
Other Outpatient Other Outpatient Other Outpatient
Other Outpatient Services: 0%* Services: 30%*
Services: 20%* Services: 40%*
*After Deductible
**Air ambulance services are out-of-network and may be balance billed
***Each virtual visit is generally around $50. Member pays the contracted rate of virtual visit until deductible has been met under an HDHP plan.
For the PPO plan:
The individual deductible amount must be met by each member
enrolled under your medical coverage. If you have several covered For the HDHP plan:
dependents, all charges used to apply toward a “per individual” Each covered individual is not required to meet the individual
deductible amount will also be applied toward the “per family” deductible. The HDHP has an aggregate deductible, meaning the
deductible amount. When the family deductible amount is reached, no family deductible amount will include all combined eligible expenses
further individual deductibles will have to be met for the remainder of that you and your covered dependents incur. The family deductible
that plan year. No member may contribute more than the individual amount may be satisfied by one member or a combination of two or
deductible amount to the “per family” deductible amount. more members covered under your medical plan.
10OUT-OF-POCKET COSTS
Deductible Copay
The amount you must pay for covered services before The fixed amount you pay for healthcare
your insurance starts paying its portion. services at the time you receive them.
UP TO
DEDUCTIBLE
YOU PAY
100%
Know before you go:
Paying for services
Coinsurance Out-of-
Your percentage of Pocket
the cost of a covered Maximum
service. If your office The most you will pay
visit is $100 and your during the plan year
coinsurance is 20% (and before your insurance
you’ve met your deductible begins to pay 100% of the
but not your out-of-pocket allowed amount.
maximum), your payment would be
$20.
% UP TO THE
YOU PAY OUT-OF-POCKET
MAXIMUM
%
PLAN PAYS
PLAN PAYS
100%
AFTER THROUGH
OUT-OF-POCKET END OF
MAXIMUM IS REACHED PLAN YEAR
AFTER
DEDUCTIBLE
IS REACHED
11How to Pick a Plan
Which plan is right for you? When deciding, consider any medical needs you foresee for the upcoming plan year, your
overall health, and any medications you currently take.
How does a PPO (Preferred Provider How does a HDHP (High Deductible Health Plan)
Organization) work? work?
You’ll pay more in premiums out of your You’ll pay less in premiums. (Think less
paycheck, but perhaps less at the time money from your paycheck.)
of service.
You’ll pay for the full cost of non-
You’re able to choose from a network preventive medical services until you
of providers who offer a fixed copay for reach your deductible.
services.
You can also use a Health Savings
If you expect to need more medical care Account in conjunction, which provides
this year or you have a chronic illness, a safety net for unexpected medical
the PPO may be the right choice for you costs and tax advantages.
to ensure your healthcare needs are
covered.
If you expect to mostly use preventive
care (which is covered), this plan could
be for you.
12PREVENTIVE CARE
Most health plans are required to cover a set of preventive services — at no
cost to you!
Screening tests and routine checkups are considered preventive, which means they’re often paid at 100%. Keep up to
date with your primary care physician to save time and money and keep yourself healthier in the long run. Under the
U.S. Patient Protection and Affordable Care Act (PPACA), some common covered services include:
Screenings for blood Pediatric screenings for
Wellness visits,
pressure, cancer, hearing, vision, obesity
physicals and standard
cholesterol, depression, and developmental
immunizations
obesity and diabetes disorders
Anemia screenings, breastfeeding
Iron supplements (for children ages
support and pumps for pregnant
6 to 12 months at risk for anemia)
and nursing women
Take advantage of these covered services. However, remember that diagnostic care to identify health risks is covered
according to plan benefits, even if done during a preventive care visit. This means if your doctor finds a new condition
or potential risk during your appointment, the services may be billed as diagnostic medicine and result in some
out-of-pocket costs. Read over your benefit summary to see what specific preventive services are provided to you.
13WHERE TO GO FOR CARE
You think you may be sick, but your primary care physician is booked through the end of the month. You have a question about the
side effects of a new medication, but the pharmacy is closed. Instead of immediately choosing an expensive trip to the emergency
room or relying on questionable information from the internet, take a look below at various care centers and resources and the
types of care they provide.
PRIMARY CARE TELEMEDICINE
NURSE LINE
CENTER
When would I use this? When would I use this? When would I use this?
You need routine care or treatment for a You need a quick answer to a health issue You need care for minor illnesses and
current health issue. Your primary doctor that does not require immediate medical ailments, but would prefer not to leave home.
knows you and your health history, can access treatment or a physician visit. These services are available by phone and
your medical records, provide routine care, online (via webcam).
and manage your medications. What type of care would they
provide?* What type of care would they
What type of care would they A nswers to questions regarding: provide?*
provide?* » Symptoms » Self‑care home » Cold & flu » Urinary tract
treatments symptoms infection
» Routine » Preventive » Medications
checkups services » When to seek » Allergies » Sinus
and side
care problems
» Immunizations » Manage your effects » Bronchitis
general health
What are the costs and time What are the costs and time
What are the costs and time considerations?** considerations?**
considerations?** » Nurse lines are usually available 24 » There is usually a first-time consultation
hours a day, 7 days a week. fee and a flat fee or copay for any visit
» Often requires a copay and/or
thereafter.
coinsurance » This service is usually free as part of
your medical insurance. » Access to care is usually immediate.
» Normally requires an appointment
» To talk with a NurseLine nurse, call the » ome states may not allow for
S
» Usually little wait time with scheduled
member number on your health plan prescriptions through telemedicine or
appointment
ID card. virtual visits.
DO YOUR
HOMEWORK
URGENT CARE What may seem like an EMERGENCY
urgent care center could
CENTER actually be a standalone ROOM
ER. These newer facilities
come with a higher price
tag, so ask for clarification
if the word "emergency"
When would I use this? appears in the company When would I use this?
You need care quickly, but it is name. You need immediate treatment
not a true emergency. Urgent for a serious life‑threatening
care centers offer treatment for condition. If a situation seems life
non‑life‑threatening injuries or What are the costs and What are the costs and threatening, call 911 or your local
illnesses. time considerations?** time considerations?** emergency number right away.
What type of care would » Often requires a copay » ften requires a much
O
they provide?* and/or coinsurance that higher copay and/or What type of care would
is usually higher than an coinsurance. they provide?*
» Strains, sprains office visit.
» pen 24/7, but waiting
O » Heavy bleeding
» inor broken bones
M » Walk‑in patients periods may be longer » Chest pain
(e.g., finger) welcome, but waiting because patients
» Minor infections periods may be longer with life‑threatening » Major burns
as patients with more emergencies will be
» Minor burns urgent needs will be » Spinal injuries
treated first.
» X‑rays treated first. » Severe head injury
» Broken bones
*This is a sample list of services and may not be all‑inclusive. **Costs and time information represent averages only and are not tied to a specific condition or treatment.
14VIRTUAL MEDICINE
When you’re sick, the last thing you want to do is leave the cozy comfort of your home.
Or sometimes you’re just too on the go to pop in for a visit. Virtual medicine is a
convenient and easy way to talk to a doctor fast.
Virtual Visits
A virtual visit with United Healthcare lets you see and talk
to a doctor from your phone, tablet or computer without
an appointment. Most visits take about 10-15 minutes,
and doctors can write a prescription (in participating
states). Try a virtual visit when your doctor is not available
or you’re traveling.
Doctors can diagnose and treat a wide range of non-
emergency medical conditions, including:
» Bladder infection/ » Rash
Urinary tract infection » Sinus problems
» Bronchitis » Sore throat
» Cold/flu » Stomach ache
» Pink eye
Virtual Visits are $15 if you are on the PPO plan and
around $50 if you are on the HDHP plan.
Access Virtual Visits
Visit www.myuhc.com to request a virtual visit. Once
you register and request a consult, you will pay your
portion of the service costs according to your medical
Use Virtual Visits when:
plan, and then enter a virtual waiting room. During your » Your doctor is not available
visit you can talk to a doctor about your health concerns, » You become ill while traveling
symptoms and treatment options. » You are considering visiting a hospital emergency
Virtual visits aren’t good for conditions requiring an exam room for non-emergency health condition
or test, complex or chronic problems, or emergencies, Not good for:
including sprains or broken bones.
» Anything requiring an exam or test
» Complex or chronic conditions
» Injuries requiring bandaging or sprains/broken bones
Visit your UHC member website at www.myuhc.com for
more information and to schedule a visit.
15PHARMACY BENEFITS
Prescription Drug Coverage for Medical Plans
Our Prescription Drug Program is coordinated through United Healthcare. That means you will only have one ID card
for both medical care and prescriptions. Information on your benefits coverage and a list of network pharmacies is
available online at www.myuhc.com or by calling the Customer Care number on your ID Card. Your cost is determined
by the tier assigned to the prescription drug product. Products are assigned as Generic, Preferred, Non-Preferred or
Specialty Drugs.
PPO PLAN HDHP PLAN
IN-NETWORK OUT-OF-NETWORK IN-NETWORK OUT-OF-NETWORK
RETAIL RX (30-DAY SUPPLY)
20% allowable
GENERIC $15 copay
after copay
0%* of allowable 30% of allowable
20% allowable
PREFERRED $40 copay
after copay
0%* of allowable 30% of allowable
20% allowable
NON-PREFERRED $55 copay
after copay
0%* of allowable 30% of allowable
3x retail 30 day 20% allowable
SPECIALTY DRUGS supply copay after copay
0%* of allowable 30% of allowable
MAIL ORDER RX (90-DAY SUPPLY)
GENERIC $30 N/A 0%* of allowable N/A
PREFERRED $80 N/A 0%* of allowable N/A
NON-PREFERRED $110 N/A 0%* of allowable N/A
*After Deductible
Note: Prescription drug copays only apply to the PPO Plan. If you are enrolled in the HSA Plan,
you will pay the full charge of drugs until your deductible has been met.
Generic Drugs
Looking to save money on medication costs? You’ve most likely heard that generic prescription drugs are a more
affordable option, so here’s the skinny: Generic drugs are versions of brand-name drugs with the exact same dosage,
intended use, side effects, route of administration, risks, safety and strength. Because they are the same medicine,
generic drugs are just as effective as brand-name drugs and undergo the same rigid FDA standards. But on average,
a generic version costs 80% to 85% less than the brand-name equivalent. To find out if there is a generic
equivalent for your brand-name drug, visit www.fda.gov.
Note: Apps such as GoodRx and RxSaver let you compare prices of prescription drugs and find possible
discounts. If you use these tools, make sure to check the price against the cost through your insurance to get the
best deal. Note that these discounts can’t be combined with your benefit plan’s coverage. As a result, if you choose
to use a discount card from an app such as GoodRx or RxSaver, the amount you pay will not count toward your
deductible or out-of-pocket maximum under the benefit plan.
16HEALTH SAVINGS ACCOUNT
Need funds to help cover out-of-pocket healthcare expenses? Consider a Health Savings
Account (HSA). An HSA is a personal healthcare bank account used to pay for
qualified medical expenses and funded by you, and in some cases your employer,
too. HSA contributions and withdrawals for qualified healthcare expenses are tax-free.
You must be enrolled in a HDHP to participate.
Your HSA can be used for qualified expenses for you, your Eligibility
spouse and/or tax dependent(s), even if they are not covered
You are eligible to contribute to an HSA if:
by your plan. If you are not currently enrolled in a HDHP but
you have unused HSA funds from a previous account, those » You are enrolled in an HSA-eligible High Deductible
Health Plan.
funds can still be used for qualified expenses.
» You are not covered by your spouse’s non-HDHP
First Financial Bank will issue you a debit card, giving
health plan.
you direct access to your HSA account balance. Use your
» Your spouse does not have a healthcare Flexible
debit card to pay for qualified medical expenses, with no
Spending Account or Health Reimbursement
need to submit receipts for reimbursement. You must
Account.
have a balance in your HSA account to use the card.
» You are not eligible to be claimed as a dependent
Eligible expenses include doctors’ visits, eye exams, on someone else’s tax return.
prescription expenses, laser eye surgery and more. Check
» You are not enrolled in Medicare or TRICARE.
out IRS Publication 502 on www.irs.gov for a complete list
of eligible expenses. » You have not received Department of Veterans
Affairs medical benefits in the past 90 days for non-
service-related care. (Service-related care will not be
taken into consideration.)
Your Money. Your Account.
Tax-free Interest Your HSA is a personal bank account that you own and
administer. It’s up to you how much you contribute,
when to use the money for medical services, and when
Employer Contributions to reimburse yourself. You can save and roll over HSA
(pre-tax) funds to the next year if you don’t spend them all in
the calendar year. You can even let funds accumulate
Voluntary Contributions year-over-year to use in retirement. HSA funds are
also portable if you change jobs. There are no vesting
requirements or forfeiture provisions.
HSA
Tax-free Payments
(for qualified medical expenses)
17How to Enroll HSA Funding Limits
To enroll in the company-sponsored HSA, you must The IRS places an annual limit on the maximum amount
elect the HDHP with First Financial Bank. Complete all that can be contributed to HSAs. For 2020, contributions
HSA enrollment materials and designate the amount to (which include any employer contribution) are limited to
contribute on a pre-tax basis. First Financial Bank will the following:
establish an HSA account in your name and send in your
contribution once bank account information has been HSA FUNDING LIMITS
provided and verified. EMPLOYEE $3,550
FAMILY $7,100
Plan. Spend. Save. CATCH ‑UP CONTRIBUTION
(AGES 55+)
$1,000
Contributions to an HSA can be made through payroll
deduction on a pre-tax basis when you open an account First Financial Bankshares provides an HSA employer
with First Financial Bank. The money in this account contribution that will be deposited on a quarterly basis.
(including interest and investment earnings) grows
EMPLOYER HSA CONTRIBUTION
tax-free. When the funds are used for qualified medical
EMPLOYEE $925
expenses, they are spent tax-free.
FAMILY $1,800
Per IRS regulations, if HSA funds are used for purposes
other than qualified medical expenses and you are HSA contributions in excess of the IRS annual
younger than age 65, you must pay federal income tax on contribution limits ($3,550 for individual coverage
the amount withdrawn, plus a 20% penalty tax. and $7,100 for family coverage for 2020) are not tax
deductible and are generally subject to a 6% excise tax.
If you’ve contributed too much to your HSA this year, you
have two options:
» Remove the excess contributions and the net
income attributable to the excess contribution
before you file your federal income tax return
(including extensions). You’ll pay income taxes on
the excess removed from your HSA.
» Leave the excess contributions in your HSA and pay
6% excise tax on excess contributions. Next year
consider contributing less than the annual limit to
your HSA to make up for the excess contribution
during the previous year.
The First Financial Bank HSA is established with First
Financial Bank. You may be able to roll over funds from
another HSA. For more enrollment information, contact
Human Resources.
Thoughts & Tips: It’s up to you how much to contribute to your HSA. Buying a new house
or sending a kid to college? You can contribute less this year. Paid off your student loans or got
a new job? Stash the annual max in your account.
18FLEXIBLE SPENDING ACCOUNTS
Flex your spending power! A Flexible Spending Account (FSA) is a special tax-free account
you put money into to pay for certain out-of-pocket expenses.
Health Care Dependent Care Flexible
Flexible Spending Account Spending Account
You can contribute from $120 to $2,650 annually for In addition to the Healthcare FSA, you may opt to
qualified medical expenses (deductibles, copays and participate in the Dependent Care FSA — whether or not
coinsurance, for example) with pre-tax dollars, which you elect any other benefits. You can set aside pre-tax
will reduce the amount of your taxable income and funds into a Dependent Care FSA for expenses associated
increase your take-home pay. You can even pay for with caring for elderly or child dependents. Unlike the
eligible expenses with an FSA debit card at the same Healthcare FSA, reimbursement from your Dependent
time you receive them, so you don’t have to wait for Care FSA is limited to the total amount that is deposited
reimbursement. in your account at that time.
» With the Dependent Care FSA, you can set aside up
Please note: Over-the-counter (OTC) drugs are not to $5,000 to pay for child or elder care expenses on
eligible for reimbursement through an FSA without a a pre-tax basis.
doctor’s prescription. » Eligible dependents include children under 13 and
a spouse or other individual who is physically or
Eligible Dependent Care Flexible mentally incapable of self-care and has the principal
Spending Account Expenses place of residence as the employee for more than
This account covers dependent day care expenses that half the year may be a qualifying individual.
are necessary for you and your spouse to work or attend » Expenses are reimbursable if the provider is not
school full time. The dependent must be a child younger your dependent.
than the age of 13 and claimed as a dependent on your » You must provide the tax identification number or
federal income tax return or a disabled dependent who Social Security number of the party providing care
spends at least eight hours a day in your home. to be reimbursed.
Examples of eligible dependent care expenses include: This account covers dependent day care expenses that
» In‑Home Baby‑Sitting Services (not by an individual are necessary for you and your spouse to work or attend
you claim as a dependent) school full time. Examples of eligible dependent care
expenses include:
» Care of a Preschool Child by a Licensed Nursery or
Day Care Provider » In-Home Baby-Sitting Services (not provided by a
tax dependent)
» Before‑ and After‑School Care
» Care of a Preschool Child by a Licensed Nursery or
» Day Camp
Day Care Provider
» In‑House Dependent Day Care
» Before- and After-School Care
Due to federal regulations, expenses for your domestic
» Day Camp
partner and your domestic partner’s children may not
be reimbursed under the Flexible Spending Account » In-House Dependent Day Care
programs. Please check with your tax advisor to Due to federal regulations, expenses for your domestic
determine if any exceptions apply to you. partner and your domestic partner’s children may not be
reimbursed under the FSA programs. Check with your tax
advisor to determine if any exceptions apply.
19How to Use the Account Grace Period
You can use your FSA debit card at doctor and dentist » FSA participants may have an additional 2½-month
offices, pharmacies and vision service providers. It cannot grace period to incur expenses after the plan year
be used at locations that do not offer services under ends (December 31, 2020).
the plan, unless the provider has also complied with IRS » If an expense is incurred between January 1,
regulations. The transaction will be denied if you attempt 2021 and March 15, 2021, AND submitted for
to use the card at an ineligible location. reimbursement on or before March 30, 2021, any
remaining balance in the previous plan year that
Once you incur an eligible expense, submit a claim
ended December 31, 2020 will be paid out from the
form along with the required documentation. Contact
claim, even though the service was provided in the
United Healthcare with reimbursement questions. If you NEW plan year.
need to submit a receipt, you will be notified by United
» The grace period applies to both the Dependent
Healthcare. Always retain a receipt for your records.
Care and Healthcare FSAs.
While FSA debit cards allow you to pay for services at
point of sale, they do not remove the IRS regulations for
substantiation. Always keep receipts and Explanation of
Benefits (EOBs) for any debit card charges. Without proof
that an expense was valid, your card could be turned off
and your expense deemed taxable.
General Rules and Restrictions
The IRS has the following rules and restrictions for
Healthcare and Dependent Care FSAs:
» Expenses must be incurred during the 2020 plan year.
» Dollars cannot be transferred between FSAs.
» You cannot participate in a Dependent Care FSA and
claim a dependent care tax deduction at the same time.
» You must “use it or lose it” — any unused funds will
be forfeited.
» You cannot change your FSA election in the middle
of the plan year unless you experience a qualifying
life event.
» Those considered highly compensated employees
(family gross earnings were $125,000 or more last
year) may have different FSA contribution limits. Visit
irs.gov for more information.
Thoughts & Tips: Your FSA
money can cover the cost of going to a
chiropractor or acupuncturist, if your
insurance doesn’t already cover it.
20FSA VS HSA
Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs) are both ways to
save pre-tax money to pay for your eligible healthcare costs. Which one is right for you?
FSA HSA
Your employer owns your FSA. If you leave your You own your HSA. It is a savings account in your name
OWNERSHIP employer, you lose access to the account unless you and you always have access to the funds, even if you
have a COBRA right. change jobs.
1. Y
ou must be enrolled in a Qualified High Deductible Health
You’re eligible for an FSA if it’s offered by your employer. You Plan to be eligible to contribute money to your HSA. You
can elect a Healthcare FSA even if you waive other coverage. cannot be covered by a spouse’s non-High Deductible plan
ELIGIBILITY & or eligible for a spouse’s FSA or enrolled in Medicare or
You cannot make changes to your contribution during the Plan
ENROLLMENT Year without a Qualifying Life Event. You cannot be enrolled in TRICARE.
both a Healthcare FSA and an HSA. 2. Y
ou can change your contribution at any time during the
Plan Year.
For Federal tax purposes, the money in the account is “triple
tax free,” meaning:
Contributions are tax free via payroll deduction. However, the
TAXATION funds spent are not tax free.
1. Contributions are tax free.
2. The account grows tax free.
3. Funds are spent tax free (if used for qualified expenses).
Both you and your employer can contribute to the account
Both you and your employer can contribute to the account according to IRS limits. The contribution limit for 2020 is $3,550
CONTRIBUTIONS according to IRS limits. The contribution limit for the Health FSA for individuals and $7,100 for families. This amount includes the
for 2020 is $2,700. employer contribution. If you are 55 or older, you may make a
“catch-up” contribution of $1,000 per year.
Many HSAs include a debit card, ATM withdrawal or
checkbook to pay for qualified expenses directly. You can
Some plans include an FSA debit card to pay for eligible also use online bill payment services from the HSA financial
PAYMENT expenses. If not, you pay up front and submit your receipts bank. You decide when to use the money in your HSA to pay
for reimbursement. for qualified expenses, or if you want to use another account
to pay for services and save the money in your HSA for future
expenses or retirement.
You must use the money in the account by end of Plan Year;
however, a Health FSA may allow up to $500 to roll over to
the next year. A Health FSA or Dependent Care FSA may
The money in the account rolls over from year to year.
ROLL OVER OR include a 2.5-month grace period after the end of the Plan
Funds are always yours and may be used for future qualified
GRACE PERIOD Year for any extra expenses to be incurred and reimbursed.
expenses — even in retirement years.
A plan can have either a rollover or a grace period, but not
both. Any unclaimed funds at the end of the run out are lost
and returned to your employer.
Physician services, hospital services, prescriptions, dental
Physician services, hospital services, prescriptions, dental
QUALIFIED care, vision care, Medicare Part D plans, COBRA premiums
care and vision care. A full listing of eligible expenses is
EXPENSES available at www.irs.gov.
and long-term care premiums. A full listing of eligible
expenses is available at www.irs.gov.
Other types of FSAs include:
• Dependent Care FSA - Allows you to set aside pre-tax dollars
for elder or child dependent care and covers expenses such
as day care and before- and after-school care.
OTHER TYPES • Limited Use FSA (LUFSA)- Some employers offer a LUFSA
There is only one type of HSA.
that only covers eligible dental and vision expenses. LUFSAs
are typically offered in conjunction with an HSA as the IRS
does not allow someone to have a Health FSA and an HSA.
Please refer to your Summary Plan Description or plan certificate for your plan’s specific FSA or HSA benefits.
21DENTAL BENEFITS
Brushing your teeth and flossing are great, but don’t forget to visit the dentist too!
First Financial Bank offers affordable plan options for routine care and beyond.
Coverage is available from Ameritas.
Network Dentists Dental Premiums & Dental Plans
If you use a dentist who doesn’t participate in your plan’s Premium contributions for dental are deducted from
network, your out-of-pocket costs will be higher, and you your paycheck on a pre-tax basis. Your tier of coverage
are subject to any charges beyond the Reasonable and determines your monthly premium. The chart below
Customary (R&C). To find a network dentist, visit Ameritas summarizes the 2020 dental coverage.
at www.ameritas.com.
LOW PLAN HIGH PLAN
MONTHLY CONTRIBUTIONS
EMPLOYEE ONLY $26.56 $37.52
EMPLOYEE + SPOUSE $55.64 $79.04
EMPLOYEE + CHILD(REN) $53.00 $86.68
EMPLOYEE + FAMILY $82.04 $127.64
CALENDAR YEAR DEDUCTIBLE
INDIVIDUAL $50 $50
FAMILY $150 $150
CALENDAR YEAR MAXIMUM
$750 - covers preventive $1,000 preventive, basic
PER PERSON & basic services only & major services
COVERED SERVICES
PREVENTIVE SERVICES
Oral Exams, Routine Cleanings, Bitewing X-rays, Fluoride Covered at 100% Covered at 100%
Applications, Sealants, Space Maintainers, Panoramic deductible waived deductible waived
X-rays
BASIC SERVICES
80%* 80%*
Full Mouth X-rays, Fillings, Oral Surgery, Simple Extractions
MAJOR SERVICES
Oral Surgery, Complex Extractions, Denture Adjustments
Not Covered 50%*
and Repairs, Root Canal Therapy, Periodontics, Crowns,
Dentures, Bridges
ORTHODONTICS
Not Covered 50%
Dependent Child(ren) Only
ORTHODONTIC LIFETIME MAXIMUM Not Covered $1,000
*After Deductible
Thoughts & Tips: Only 60% of adults ages 20 to 64 have been to the dentist in
the past year. Take advantage of your dental coverage to keep your smile healthy.
22VISION BENEFITS
Don’t wear glasses? Even you shouldn’t skip an annual eye exam! First Financial Bank
provides you and your family access to quality vision care with a comprehensive vision
benefit through Ameritas (Vision Service Plan).
The vision plan is administered by Ameritas which, utilizes the VSP Network (Vision Service Plan). Vision benefits include
eye exams and either eye glasses or contacts. A nominal copay applies for all eye exams. Glasses lenses, frames, and
contact lenses do not require a copay and are covered 100% up to a maximum allowance after the deductible has been
met. You are responsible for paying glasses or contact expenses in excess of the maximum allowance.
You can receive services from one of VSP’s thousands of eye care professionals, or choose to receive care outside of
the VSP network. To find a VSP member doctor, call 800-877-7195, or visit VSP’s website at www.vsp.com.
VISION SERVICE PLAN
MONTHLY CONTRIBUTIONS
EMPLOYEE ONLY $8.76
EMPLOYEE + SPOUSE $15.00
EMPLOYEE + CHILD(REN) $15.88
EMPLOYEE + FAMILY $21.96
VSP MEMBER DOCTOR NON-PARTICIPATING PROVIDER FREQUENCY
EXAMS
Reimbursement up to $45
COPAY $10 deductible
after deductible
Once every 12 months
LENSES
SINGLE VISION $25 deductible Up to $30
BIFOCAL $25 deductible Up to $50 Once every 12 months
TRIFOCAL $25 deductible Up to $65
CONTACTS (IN LIEU OF LENSES AND FRAMES)
Covered up to $155 applied Covered up to $105 applied
toward contact lens fitting toward contact lens fitting
ELECTIVE evaluation and material. evaluation and material.
Member responsible for the Member responsible for the
difference difference
Once every 12 months
Reimbursement up to $210.
MEDICALLY NECESSARY Covered in full Member responsible for
difference
FRAMES
Reimbursement up to $70.
Member responsible for
ALLOWANCE $25 deductible, $100 allowance
difference between approved
Once every 24 months
amount and provider’s change
Thoughts & Tips: More than 150 million Americans use corrective eyewear to
compensate for refractive errors.
23SURVIVOR BENEFITS
It’s difficult to think about what would happen if something ever happened to you,
but it’s important to have a plan in place to make sure your family is provided for.
Survivor benefits provide financial protection and security in the event of an absence or
unexpected event. Securing Life insurance now ensures your family will be protected for
the future.
Basic Life and Accidental Death
and Dismemberment (AD&D)
Insurance
First Financial Bank provides employees with Basic Life
and AD&D insurance as part of your basic coverage
through UNUM, which guarantees that loved ones, such
as a spouse or other designated survivor(s), continue to
receive part of an employee’s benefits after death.
Your Basic Life and AD&D insurance benefit
is 1x base salary rounded to the next $1,000,
up to $50,000. If you are a full-time employee, you
automatically receive Life and AD&D insurance even if
you elect to waive other coverage.
What’s a beneficiary? Your beneficiary is the person
you designate to receive your Life insurance benefits
in the event of your death. This includes any benefits
payable under Basic Life offered by First Financial Bank.
You receive the benefit payment for a dependent’s death
under the UNUM insurance.
Name a primary and contingent beneficiary to make your
intentions clear. Make sure to indicate their full name,
address, Social Security number, relationship, date of
birth and distribution percentage. Please note that in
most states, benefit payments cannot be made to a
minor. If you elect to designate a minor as beneficiary, all
proceeds may be held under the beneficiary’s name and
will earn interest until the minor reaches majority age at
18. If you need assistance, contact Human Resources or
your own legal counsel.
24Voluntary Life and AD&D Insurance
Life and AD&D benefits are an important part of your family’s financial security. The basic benefits provided to you by
First Financial Bank may not be enough to cover expenses in a time of need. Therefore, extra coverage is available to protect
you and your family. Eligible employees may purchase additional Voluntary Life and AD&D insurance. Premiums are paid
through payroll deductions.
BASIC EMPLOYEE LIFE/AD&D
COVERAGE AMOUNT 1x base salary rounded to the next $1,000
WHO PAYS First Financial Bank
MAXIMUM BENEFIT $50,000
EVIDENCE OF INSURABILITY (EOI) REQUIRED No
VOLUNTARY EMPLOYEE LIFE
COVERAGE AMOUNT $10,000 increments
WHO PAYS Employee
MAXIMUM BENEFIT Lesser of 5x your annual salary or $500,000
Yes - you must complete and submit an EOI form if:
• If you are newly eligible for benefits and elect an amount that is greater than the
Guaranteed Limit of $240,000.
EVIDENCE OF INSURABILITY (EOI) REQUIRED • If you are currently enrolled in Supplemental Life and you want to increase your
coverage over the Guaranteed Limit.
• If you declined this benefit when initially offered and now want to elect
Supplemental Life coverage.
VOLUNTARY SPOUSE LIFE
COVERAGE AMOUNT $5,000 increments
WHO PAYS Employee
MAXIMUM BENEFIT 100% of employee’s coverage
Yes - you must complete and submit an EOI form if:
• If you are newly eligible for benefits and elect an amount that is greater than the
Guaranteed Limit of $50,000.
EVIDENCE OF INSURABILITY (EOI) REQUIRED • If you are currently enrolled in Supplemental Life and you want to increase your
coverage over the Guaranteed Limit.
• If you declined this benefit when initially offered and now want to elect
Supplemental Life coverage.
VOLUNTARY CHILD LIFE
Live birth to 6 months: age of $1,000. 6 months of age and up: increments of
COVERAGE AMOUNT $2,000
WHO PAYS Employee
MAXIMUM BENEFIT $10,000
EVIDENCE OF INSURABILITY (EOI) REQUIRED No
VOLUNTARY EMPLOYEE AD&D
COVERAGE AMOUNT Same increments as Supplemental Life Insurance
WHO PAYS Employee
MAXIMUM BENEFIT $500,000
EVIDENCE OF INSURABILITY (EOI) REQUIRED Same as Supplemental Life Insurance
25VOLUNTARY LIFE INSURANCE
RATES/$1,000 (MONTHLY)
AGE AGE
EMPLOYEE SPOUSE
(AS OF JANUARY 1, 2020) (AS OF JANUARY 1, 2020)
Under age 25 $0.054 Under age 25 $0.12
25-29 $0.054 25-29 $0.12
30-34 $0.081 30-34 $0.12
35-39 $0.099 35-39 $0.15
40-44 $0.126 40-44 $0.232
45-49 $0.198 45-49 $0.238
50-54 $0.351 50-54 $0.652
55-59 $0.593 55-59 $1.022
60-64 $0.728 60-64 $1.592
65-69 $1.052 65-69 $2.786
70-74 $2.364 70-74 $2.786
75+ $4.729 75+ $2.786
SUPPLEMENTAL AD&D RATE/ $1,000
Employee or Spouse $0.023
VOLUNTARY CHILD LIFE INSURANCE
PREMIUM RATES – MONTHLY
COVERAGE LEVEL MONTHLY CONTRIBUTION
$2,000 $0.16
$4,000 $0.32
$6,000 $0.48
$8,000 $0.64
$10,000 $0.80
TO CALCULATE HOW MUCH YOUR VOLUNTARY LIFE COVERAGE WILL COST:
$ ÷ 1,000 = $ x Age Based Rate = $
Benefit Elected Monthly Premium
26INCOME PROTECTION
Maintaining your quality of life counts on your income. First Financial Bank offers
disability coverage to protect you financially in the event you cannot work as a result of a
debilitating injury. A portion of your income is protected until you can return to work or
until you reach retirement age.
Short Term Disability (STD) Basic Long Term Disability
Insurance (LTD) Insurance
Short Term Disability (STD) benefits are available Long Term Disability (LTD) benefits are available at
for purchase on a voluntary basis. STD insurance no cost. LTD insurance replaces 60% of your income if
replaces 60% of your income if you become partially or you become partially or totally disabled for an extended
totally disabled for a short time. Certain exclusions, along time. Certain exclusions, along with pre-existing condition
with pre-existing condition limitations, may apply. See limitations, may apply. See your plan documents or
your plan documents or Human Resources for details. Human Resources for details.
WEEKLY MAXIMUM BENEFIT $2,000 MONTHLY MAXIMUM
$10,000
ELIMINATION PERIOD 14 days BENEFIT
MAXIMUM BENEFIT PERIOD 120 days ELIMINATION PERIOD 180 days
Payments will last
for as long as you
VOLUNTARY STD
are disabled or until
PER $10 OF WEEKLY BENEFIT
MAXIMUM BENEFIT PERIOD you reach your Social
AGE (AS OF JANUARY 1, 2020) PAYROLL CONTRIBUTIONS
Security Normal
Under age 25 $0.83
Retirement Age,
25-29 $0.93
whichever is sooner.
30-34 $0.80
35-39 $0.63
40-44 $0.59
45-49 $0.60
50-54 $0.70
55-59 $0.95
60-64 $1.22
65+ $1.39
27RETIREMENT PLANNING
Whether you’re just starting out in your career or you’ve been in the workforce for years,
it’s always a good time to plan for retirement.
Contributing to a 401(k) account now can help keep you What is a 401(k)?
financially secure later in life. The First Financial Bank
This employer-sponsored retirement account can
401(k) plan provides you with the tools and flexibility you
help build and create choices for your future self by
need to prepare.
saving money — tax free — from your paycheck. Due
to the value of compounding interest, the sooner you
What about my Profit Sharing? participate in a 401(k), the better.
Whether or not your region makes a contribution to your
All employees can invest for retirement while receiving
profit sharing account depends on the performance of
certain tax advantages. Administrative and record-
your region. If it is determined that your region/company
keeping services for this plan are provided by Leverage.
will make a contribution then if you
You may start making pre-tax contributions into the plan
» Have entered the plan (e.g. hired prior to 1/1/20), as soon as your start date.
» Have worked at least 1000 hours during 2020 and
» Are employed through 12/31/20, your plan account Contributing to the Plan
will receive a profit sharing contribution as of The deferred contribution limit set annually by the IRS is
December 31, 2020. $19, 5 00 for 2020.
Whether or not you own any of the profit sharing If you are age 50 or older this calendar year and you
contribution depends on whether or not you are vested. already contribute the maximum allowed to your 401(k)
If you have at least two 1000-hour years-of-service with account, you may also make a “catch-up contribution.”
the company, you are vested 20% or more ( additional This additional deposit accelerates your progress toward
20% each year thereafter until 100% vested after 6 years). your retirement goals. The maximum catch-
up contribution is $6, 5 00 for 2019 — for a combined
total contribution allowance of $2 6 ,000. See your plan
administrator for details.
Thoughts & Tips: When you retire, you’ll
need at least 70% of your pre-retirement
earnings to maintain your standard of living.
Social Security retirement benefits typically
replace only about 40%, so start building that
nest egg now.
28You can also read
