Compensation and Benefits Final Project Presentation

1. S
Global Insurance
Educational Institute
By: Kathy, Jasmine and Chelsa

2. Compensation & Benefits Plan
Health Insurance
Employee Assistance & Work-life Program
Dental Insurance
Vision Insurance
 Flexible Spending Account
Tuition & Professional Development Reimbursement
Vacation, Paid-Time-Off, Sick Leave
403(b) Savings Retirement Plan
Life Insurance
Long-Term Disability
Short-Term Disability

3. Health Insurance
Global Insurance pays 95% of the premium for employees who work full
time (35 or more hours per week)
 Deductible of $1,500 for single plans and $3,000 for all other plans
Agency pays 60% of the cost of the deductible
Employee out-of-pocket cost for the deductible $600 for a single plan
and $1,200 for all other plans
 Coverage begins at the 1st of the month for eligible employees
Non-participants receive either a cash payout or a 403(b) in the amount of
$3,900/year
Health insurance premiums (Handout)

4. Employee Assistance & Work-life Program
Employee Assistance Program (EAP) offers counseling and referrals to help
you through stressful times
No cost for employee or family members
When to Use EAP? (Handout)
 Talk to an EAP counselor available 24 hours a day, including holidays.
Call 1-888-235-7895 or visit Web: www.humana.com/eap

5. Dental Insurance
 Global Insurance pays 90% of the premium for employees who work full time (35 or
more hours per week)
 Employees working between 29 and 34 hours are eligible for Dental insurance
 Coverage for benefit-eligible employees will begin the 1st of the month
 Deductible: Family $75, Individual $25
 Dental premiums for a full-time employee (Handout)
 Dental plan covers main expenses and annual deductible (Handout)

6. Vision Insurance
Employee Monthly
Cost
Employee Annual
Cost
Single 7.31 $87.72
Employee and
Spouse
$14.62 $175.44
Employee and
Children
$13.89 $166.68
Pays for a routine eye exam as well as glasses or contact lenses
Vision insurance is not tied to medical or dental plan
Coverage for benefit-eligible employees will begin the 1st of the month
Vision Coverage (Handout)

7. Flexible Spending Account
 Types of FSA: Traditional Healthcare FSA, Consumer Choice
FSA (Dental and Vision Only), and/or Dependent Care
 Purpose of FSA (Handout)
 Contribute up to $5,000 dependent care and up to $2,500
for health care
 To find out how much you could save, please visit,
www.fsaworks4me.com

8. Tuition & Professional Development Reimbursement
 $3,500 per semester/quarter. Tuition reimbursement is available as funds allow.
 Must fill out Tuition Reimbursement Request Form /Professional Development
Request Form
 Eligibility for tuition reimbursement:
 Employed by the agency for at least 1 year
 Are taking courses related to job or career
 Additional criteria must be met to qualify for tuition reimbursement (Tuition
Handout)
 Professional Development:
 Employees can participate in a workshops or seminars
 Professional Development Plan (PDP) support to staff, free of charge
(Handout)

9. Paid Time Off (PTO) & Holiday Benefit
 Combined PTO and Holiday benefit accrual in one PTO Bank
 PTO starting from your date of hire, and may use it after 90 days of employment
 We observe 6 holidays annually
 Non-exempt staff member get paid at the rate of 1 ½ times the applicable hourly rate
on holidays
 PTO Schedule – Non-exempt Staff (Handout)
 PTO Schedule Part-time non-exempt staff (Handout)
 PTO Scheduled Part-time exempt staff (Handout)
 Sick leave and vacations are deducted from PTO

10. 403(b) Savings
Retirement Plan
403(b) Savings Plan Parts:
Employee payroll contributions (Handout)
Global Insurance employer service contributions (Handout)
403(b) Plan Eligibility Requirements:
Must be age 18 or older; and
Worked at least 1,000 hours in the payroll year
Be employed on December 31 of the calendar year

11. Life Insurance
No cost to you for Basic life and AD&D insurance coverage
We pay 75% of the premium for life insurance, which is based on your annual salary and
age.
If you work 34 hours per week or less, you may be eligible for life insurance at a pro-rated
cost
Basic Life Insurance (Handout)
Basic Accidental Death & Dismemberment (AD&D) Insurance (Handout)
Supplemental Staff Member Life Insurance, Spousal and Child(ren) Life Insurance
(Handout)
2014 Life and AD&D Insurance Plan & Deductions (Handout)

12. Long/Short Term Disability
Disabilities have to meet the definition standards
If you need to be off work it must be approved
Long-Term Disability
Global Insurance pays 100% of the premium for all eligible employees who
work 29 or more hours per week
long-term disability is offered to those injured for more than 90 days
Coverage (Handout)
Short-Term Disability
Benefits will begin after being disabled for 4 days.
Payments would be based on your FTE and base rate of pay.
Benefits will continue up to 90 days
Protection for all eligible employees who work 29 or more hours per week.
Employees are responsible for paying premiums through a payroll deduction
Coverage (Handout)

13. Enrollment Process

14. Overall Premium Cost of Benefits-Employee
Single Monthly
Cost
Single
Annually
Cost
Employee &
others
Monthly Cost
Employee & others
Monthly Cost
Health
Insurance
$35.66 $427.92 $73.77 $885.24
Dental $3.60 $43.20 $10.39 $124.68
Vision $7.31 $87.72 $17.09 $205.12
Total: $46.57 $558.84 $101.25 $1,215.04
*Estimated values

15. Sources