ADDITIONAL INFORMATION
ELIGIBILITY:
Benefits are available to full-time employees working a minimum of 30 hours per week. • Medical/Rx benefits are effective on the 1st day of the month following 60 days of continuous service • Dental benefits are effective on the 1st day of the month following 60 days of continuous service • Vision benefits are effective on the 1st day of the month following 60 days of continuous service • Basic Life/AD&D and Voluntary Life benefits are effective on the 1st day of the month following 180 days of continuous service • The Flexible Spending Account is offered to new hires, effective 1st day of month following 60 days of continuous service.
ABOUT DEDUCTIONS:
Under Section 125 of the Internal Revenue Service (IRS) code, you are allowed to pay certain group insurance premiums with tax-free dollars. This means your premium deductions are taken before Federal Income, State Income, and Social Security taxes are calculated, saving you 28% or more, depending on your tax bracket. Please make your benefit elections carefully, including the choice to waive coverage. Your pretax elections will remain in effect unless you experience an IRS approved qualified life event.
WHO IS AN ELIGIBLE DEPENDENT?
• Your legal spouse not working full-time and eligible for benefits through their employer. • Your child(ren) are covered to age 26 (medical/dental/vision insurance only) • Your child(ren) are covered six (6) months to age 19, 26 years if full-time student (life insurance only)
QUALIFYING LIFE EVENTS are events that cause an individual to lose his or her group health coverage. The type of qualifying event determines who the qualified beneficiaries are for that event and the period of time that a plan must offer continuation of coverage. Qualifying Life events include: • Marriage, divorce, or legal separation • Death of spouse or other dependent • Birth or adoption of a child • You or your spouse experience a work event that effects your benefits • A dependent’s eligibility status changes due to age, student status, marital status, or employment • Relocation into or outside of your plan’s service area
You must notify Human Resources within 30 days of the qualifying life event. Depending on the type of event, you may be asked to provide proof of the event. If you do not contact Human Resources within 30 days of the qualifying event, you will have to wait until the next annual enrollment period to make changes.
3 The Concrete Company Benefit Guide |
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