Employee Benefits Information 2021 - TIG Advisors
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Employee Benefits Information 2021
Benefits Overview: 2021
Welcome to Team TIG!
This booklet will provide a high-level overview of all insurance benefits TIG offers our employees. We
are committed to providing you a comprehensive benefits package while keeping your cost affordable
and competitive. We are a part of the Sunstar Insurance Group network which is where our employee
benefits originate.
When will my coverage become effective?
▪ As a new employee, all coverages you elect will be effective once you have been employed 30 days.
When do I need to submit my elections?
▪ You will have 30 days from your date of hire to submit your elections. All completed paperwork
should be submitted to HR before your 31st day of employment.
What happens if I don’t enroll?
▪ If you don’t make your choices before your 31st day of employment, you must wait until our next open
enrollment period before you can enroll for insurance benefits (Unless you experience a qualifying
life event such as getting married or divorced, having a baby, or if your spouse loses his or her job.).
Note: For complete descriptions of TIG Advisors’ benefits, please refer to the certificates of coverage (plan documents) for each carrier. If there are any
discrepancies between this presentation and the plan documents, the plan documents shall prevail.
2
MEDICAL COVERAGE OPTIONS3
Medical
Coverage
Cigna
Medical Coverage
TIG offers you health plan options through Cigna.
What is an HAS?
A health savings account (HSA) is a tax-advantaged medical savings account available
to taxpayers in the United States who are enrolled in a high-deductible health plan
(HDHP). The funds contributed to an account are not subject to federal income tax at
the time of deposit. Unlike a flexible spending account (FSA), HSA funds roll over and
accumulate year to year if not spent.
HSA dollars can be used to help the health insurance deductible and qualified medical
expenses, including those not covered by health insurance, like dental and vision care.
Traditional Health Plans Health Savings Accounts
4
Medical
Coverage
HSA Key Points
▪ Annual contribution limit to an HSA $3,600 for an individual and $7,200 for a family.
If you are 55 years old, you can contribute another $1,000.
▪ What you don’t use in any given year will stay invested and continue to grow tax free,
assuming you eventually pull it out for medical costs. If you use any withdrawal for
non-medical costs, it will be taxed when you use it.
▪ Contribution is taken out of your paycheck on a pre-tax basis.
▪ Compare cost of procedures/drugs – Healthcare bluebook.
▪ The HSA plan is through Bank of America. Each employee has the option of setting
one up through their own bank or Bank of America. Contributions will be deducted
from payroll and Sunstar will deposit amount into the individual HSA bank account.
▪ If employee chooses Bank of America, they will receive an email from Bank of
America, as well as additional information concerning their HSA. Contributions will
be deducted from payroll and Sunstar will deposit amount into their Bank of America
HSA account.
▪ Each employee decides what amount, if any, they want to put in their HSA. Amounts
can be changed at any time by simply completing a new form and emailing Human
Resources.
5
Medical
Coverage
Out-of-
Covered Benefits In-Network Network
DEDUCTIBLE & COINSURANCE
Employee Deductible $1,400/Individual $2,800/Individual
$2,800/Family $5,600/Family
Coinsurance 100% 70%
Out-Of-Pocket Maximum $6,000/Individual $12,000/Individual
(Includes Deductible) $12,000/Family $24,000/Family
WELLNESS/PREVENTIVE (Routine Care)
Physical Examinations 100% 70% after Ded
Well Child Care (including 100% 70% after Ded
immunizations) 100% 70% after Ded
Diagnostic X-Ray & Laboratory
PHYSICIAN'S OFFICE VISITS
Primary Care $35 Copay after Ded 70% after Ded
Specialist Office $75 Copay after Ded 70% after Ded
TELADOC $45 Copay, Ded waived 70% after Ded
6
Medical
Coverage
Out-of-
Covered Benefits In-Network Network
DIAGNOSTIC X-RAY & LABORATORY
Physicians Office 100% after Ded 70% after Ded
Specialist Office 100% after Ded 70% after Ded
Hospital 100% after Ded 70% after Ded
MRI, CAT, & PET Scans 100% after Ded 70% after Ded
DXL Outpatient 100% after Ded 70% after Ded
HOSPITAL BENEFITS
In-Patient 100% after Ded 70% after Ded
Out-Patient 100% after Ded 70% after Ded
Emergency Room (Waived If Admitted) $250 Copay after Ded Same as In-Network
Urgent Care Facility $75 Copay after Ded 70% after Ded
SURGICAL BENEFITS
In-Patient 100% after Ded 70% after Ded
Out-Patient 100% after Ded 70% after Ded
ADDITIONAL MEDICAL BENEFITS
Chiropractic Services $75 Copay after Ded Ded then
Ambulance 100% after Ded Same as In-Network
Durable Equipment & Supplies 100% after Ded 70% after Ded
PRESCRIPTION DRUG CARD(CVS/Caremark)
RX Deductible Integrated with Medical
Retail Pharmacy Copay $10 Generic
$35 Preferred
$55 Non-Preferred
Mail Order Copay 25% to a max of $350 Copay Specialty
2 times Retail Copay for 90-day supply
7
Monthly
Premiums
Employee’s Monthly Medical Premium
Employee $113.89
Employee + Spouse $341.68
Employee + Children $284.75
Family $512.53
Employee’s Monthly Premium
Dental
Employee $10.10
Employee + Spouse $20.18
Employee + Children $20.18
Family $32.62
8
Dental -
Standard
Coverage Standard PPO
Calendar Year Applied to Basic and Major Services $50 Individual
Deductible $150 Family
Annual Maximum Applied to Preventive, Basic and Major Services $1,000
Preventive ▪ Oral Examinations (twice a year) $5 Copay
Services ▪ Cleanings (twice a year)
▪ Fluoride Treatments
▪ Emergency Palliative Treatment
▪ Space Maintainers
▪ Bitewing X-Rays
Basic Services ▪ Full Mouth X-Rays 80%
▪ Fillings
▪ Simple Extractions
▪ Sealants for Dependent Children
Major • Surgical Periodontics 50%
Services • Endodontics
• Prosthodontics (Bridges & Dentures)
• Crowns, Inlays, Onlays
• Oral Surgery (Except for Simple
Extractions)
• General Anesthesia
Orthodontia • NA NA
Participants can carry over part of their unused annual maximum - $1,000 max over 4 years
9
Short & Long-Term Disability
SHORT TERM DISABILITY:
▪ Benefit Period: 13 Weeks Maximum
▪ Benefits Begin On:
Day 1 Due to Injury
Day 8 Due to Illness
▪ Maternity Coverage is Included
▪ 66% of Salary (base)
▪ $500 Maximum Weekly Benefit
LONG TERM DISABILITY:
▪ Waiting Period – 90 Days
▪ 60% of Salary (base)
10ADD & Life through Standard
25,000 AD&D – 100% employer paid
$25,000 Basic Life – Employee-100% employer paid
$2,500 Basic Life – Spouse-100% employer paid
$1,000 Basic Life – Child(ren)-100% employer paid
Proof of Insurability Required for Benefits over $100,000 for
Employee & $15,000 for Spouse
11Voluntary
Benefits
▪ Vision
▪ Additional Life Insurance - Employee/Spouse/Children
▪ Colonial various policies –cancer, long term, life
▪ 401(k) Plan through The Principal Funds
▪ Eligibilty after 30 days of employment
Employee’s Monthly Premium
Vision -VSP (Optional)
Employee $ 8.48
Employee + Spouse $18.28
Employee + Children $14.76
Family $24.56
12OTHER PERKS & BENEFITS 13
Life At TIG
General Policies and Perks
PTO
Paid Time Off (PTO) combination of total number of paid days for vacation, sick leave and
personal time off
Use of days at discretion of employee
PTO days earned by employee on a pro rata basis over the course of a calendar year
Unused PTO days cannot be carried over and will be forfeited at the end of the calendar year
Annual allocation is based upon employee’s years of service as shown on the table below.
Years PTO Days
1-5 20 days
6-10 22 days
10+ 25 days
Here is a list of the paid holidays:
-New Year’s Day -Memorial Day-
-Independence Day -Labor Day
-Thanksgiving -Friday After Thanksgiving
-Christmas Eve -Christmas
Each employee also receives their Birthday off to celebrate another great year!
Dress Code
Our dress code is smart casual. Smart casual is more relaxed than business casual. At TIG, we
believe a pair of jeans and a blazer or sports coat looks sharp and may represent us well. For
ladies, this may look like jeans and a button-up or nice blouse.
Coffee
If you’re the coffee type, we enthusiastically partner with Camacho Coffee.
Referral Program
If you know a client or potential new hire who would be a good addition to the TIG Advisors
family, you may be awarded a variety of incentives if you refer them for employment and they
are hired, or they sign on as a new client.
14Travel Assistance
➢ 100% employer paid benefit
➢ Travel assistance helps you cope with
emergencies when you travel more than 100
miles from home or internationally for trips of
up to 180 days.
➢ Automatically covered. Services available 24/7
➢ Pre-trip assistance, trip assistance, medical
assistance, legal assistance, 24-hour health
information, emergency transportation services
15Employee Assistance
Program (EAP)
▪ 100% employer paid
▪ Services that may help manage your personal life
▪ EPA can help with:
▪ Childcare and elder care
▪ Alcohol and drug abuse
▪ Life improvement, difficulties in relationships
▪ Stress, anxiety, depression, emotional well being
▪ Grief and loss
▪ Financial and legal concerns
16You can also read
