2025 Benefit Guide
Your benefits are an important part of your overall compensation We are pleased to offer a comprehensive array of valuable benefits to protect your health, your family and your way of life This guide answers some basic questions you may have about your benefits
BENEFIT ELIGIBILITY
Who is Eligible
The following individuals are eligible to participate in Haag-Streit’s benefits program:
• Active, full-time employees on the first of the month following:
• Date of hire for medical, dental, vision, life, long-term disability, accident, and critical illness
• 6 months of employment for short-term disability
• Your legally married spouse
• Your dependent children up to age 26
• Your unmarried children aged 26 or older who are mentally or physically disabled and who rely on you for support and care
BENEFIT ENROLLMENT
Enrollment Periods
New Hire and Newly Eligible Enrollment
Newly hired or newly eligible employees must complete their online enrollment within 30 days of the date they become eligible
Annual Open Enrollment – Deadline November 12th
Every year, Haag-Streit conducts an Open Enrollment. This is the time for you to re-evaluate your needs and elect benefit options for the upcoming benefit year. Open Enrollment is an opportunity to make changes to your benefits without a qualifying life event
Enroll Online through ADP
Between Enrollment Periods
You may make changes to your benefit elections outside of the annual Open Enrollment ONLY if you experience an IRS Qualifying Life Event (QLE) Election changes must be on account of and consistent with the event, also made within 30 days of the QLE Events that may allow you to make benefit changes include:
• Change in legal marital status
• Change in your eligibility
• Change in the number of eligible dependents
• Gain a benefit option or lose coverage
1 Deductible and Out of Pocket Maximums “reset” every year in January.
2 The deductible is embedded. This means that once a family member meets their individual deductible, the plan will
3 The out-of-pocket maximum is embedded. This means that, once an individual family member meets their out-of-pocket maximum, that individual’s
are
at 100% for the rest of the benefit year.
4 ARORx manages our prescription benefits and provides you with a separate Rx ID card.
5 90-day prescription required for a 90-day fill.
TAX SAVINGS ACCOUNTS
Health Savings Account
The High Deductible Health Plan features a Health Savings Account (HSA) provided through Chard Snyder. The HSA lets you set aside pre-tax dollars to help offset your annual deductible and pay for qualified health care expenses.
Flexible Spending Account
The flexible spending account (FSA), provided through UMR, is a tax-advantaged account that can help you cover certain qualified outof-pocket expenses. FSAs allow you to set aside a portion of your income, before taxes, to pay for qualified health care expenses.
Important FSA Rules
Because FSAs can give you a significant tax advantage, they must be administered according to specific IRS rules:
• FSAs must be actively elected each year.
• Keep all FSA claim itemized, detailed receipts. Supporting documentation is required by the IRS for FSA claims. If a claim is unable to automatically substantiated based on plan design or debit card transaction, additional documentation will be requested Please promptly submit itemized receipts to UMR.
• FSA: Unused funds will not be returned to you or carried over.
LIFE & DISABILITY INSURANCE
Basic and Voluntary Life and AD&D
Haag-Streit provides a Basic Life and Accidental Death and Dismemberment benefit for you at NO COST to you Voluntary Life and AD&D is available to you should you wish to have additional coverage Note, dependent life and/or AD&D election cannot exceed 50% of your elected amount Voluntary Life and Voluntary AD&D are elected as a unit
During your initial eligibility period, you can secure coverage up to the Guaranteed Issue limits without the need for Evidence of Insurability (EOI) or answering health questions. During Annual Open Enrollments, you may increase your election 1 increment (up to Guaranteed Issue limits) without the need for EOI.
reduction of 65% of original amount at age 65 and to 50% at age 70.
• 12/12 Pre-Existing Limitation applies. During the first 12 months of coverage, policy will not
• Your policy includes a Survivor Benefit equal to 3 months of your Base Annual Earnings.
by paying a benefit to you to help cover the unexpected out-of-pocket costs related to treating your injuries. With critical illness insurance, you’ll receive a lump-sum benefit if you are diagnosed with a covered condition. You can use this benefit however you like, including to help pay for:
VOLUNTARY ADDED BENEFITS
Life Assistance Program (LAP)
We are proud to provide a confidential program dedicated to supporting the emotional health and well-being of you and your family. A Life Assistance Program through New York Life is provided at NO COST to you. The LAP can help with situations involving mental health, relationships, substance use, child and eldercare, grief and loss, legal or financial issues among others Up to 3 in-person or virtual sessions are available for you and your household members To utilize the LAP, call 888 842 4462 or visit www myNYLGBS com
Cancer Expert Now (CEN)
Cancer Expert Now is a revolutionary platform that connects you and your family with top cancer specialists at no cost through Haag-Streit. This service provides personalized guidance, the latest treatment options, and comprehensive support for patients and caregivers navigating cancer journeys With easy access to expert advice and valuable resources, you and your family members can make informed decisions about you or your family’s care and treatment
WellWorks forYou
WellWorks for You is our dedicated wellness program designed with your health and happiness in mind. This program provides a variety of resources tailored to support your well-being. This platform helps you obtain the fully discounted medical rates by helping you and your spouse, if applicable, take the necessary steps to complete your biometric screenings through onsite screenings, lab vouchers, and/or physician results forms.
Benefit Spot App
We’ve gone mobile! To help you access your benefits information even when you’re away from work and need it most we’ve launched a mobile benefits app. To get started, Download “Benefit Spot” on the Apple App Store or Google Play and enter company code: HSU
PLAN CONTRIBUTIONS
Your contributions toward the cost of benefits are automatically deducted from your paycheck. The amount will depend on the plan you select and if you choose to cover eligible family members.
