Special Benefits Announcement Life, STD, Critical Illness, Accident June 7, 2019 Effective July 1st, we have a SPECIAL mid-year open enrollment for voluntary benefits for all NAC New England employees as a result of negotiating with our benefit vendors as we roll out our Tennessee benefit renewal. Important note: During this
open enrollment, you will not be able to drop existing coverage for any plans you enrolled in on March 1st, however you will be able to enroll or enhance your voluntary benefits. A special open enrollment banner will appear on your ADP homepage between June 10 – June 14, 2019. Please review the details and parameters of your open enrollment options below. If you have any questions on how to access on ADP or any questions on your benefits options, please contact Sandy Lamb, HR, at 508-235-4336 or
Megan Leary, HR, at 508-234-4244. All rates go into effect on pay date July 12, 2019 for all employees.
Special Enrollment Quick Highlights for New England Employees 1. Basic Buy-up Life Insurance – the option to voluntarily elect $25K of additional life insurance for the employee for only $1.21week and .06 week for $1,000 for child and $2,000 for spouse. If we do not get enough employees to elect, we unfortunately will not be able to implement. This is a pre-tax deduction for the employee buy-up to $50,000, and post-tax deduction for your spouse and/or child. 2. Voluntary Supplemental Life Insurance – the option to elect another $200K of life insurance for the employee without medical review. This is great if you have any illnesses and haven’t been able to buy additional life insurance in the past. The rates are very competitive. This is a post-tax deduction. 3. Long Term Disability Insurance with USAble will now pay after 90 days of total disability vs. 180 days of total disability. Your previous benefit max of 60% salary to $6,000 max per month will be increased to 60% salary to $7,500 max per month as well. This benefit will continue to be 100% employer paid for all full-time and part-time employees working at least 20 hours per week. 4. Short Term Disability Insurance rates – better rates, a good time to buy if you choose to elect. STD pays after 14 days of lost work time. If we do not get enough employees to elect, we unfortunately will not be able to implement. This is a post-tax deduction. 5. Voluntary Accident and Critical Illness care – will no longer be offered with Allstate as of 7/1/2019 if you currently elect. You can elect these benefits with our new vendor Guardian. Please keep in mind that these benefits require a certain % level of employees to elect. If we do not get enough employees to elect, unfortunately we will not be able to implement. This is a post-tax deduction.
Basic Life/AD&D Buy-up Plan NAC will continue to provide $25,000 of Basic Life/AD&D coverage 100% employer paid. This open enrollment period will allow employees the opportunity to buy an additional $25,000 of Life/AD&D
insurance for $1.21 per week for a total insurance amount of $50,000. Your Basic Life/AD&D buy-up payroll deduction will be on a pre-tax basis.
Employees will also have an opportunity to elect $2,000 in Basic Life for Spouse, and $1,000 in Basic Life for children
for $0.06 per week for all covered dependents combined. NAC will pick up 50% of the cost of Basic Life for your dependents. Your Spouse and Child Basic Life payroll deduction will be on a post-tax basis.
Voluntary Life/AD&D Employees who are currently enrolled with Voluntary Life/AD&D coverage for yourself, spouse, and child will be
able to increase your election up to the guaranteed issue amount without answering a medical questionnaire. The guaranteed issue amount for employees is $200,000, and for spouse is $50,000. Children are automatically enrolled with a $5,000 or $10,000 benefit amount. There is an age-based reduction to 65% paid at age 70 and 50% at age 75.
Short Term Disability As of July 1, 2019, for those enrolled with Allstate’s Individual Short-Term Disability plan will be turned off. As a replacement, we are offering a Voluntary Short-Term Disability program through USAble. This coverage will start on the 15th day that you are disabled due to Accident or Illness and provide 60% of your weekly earnings up to $1,500 max. This program will last for a period of 12 weeks, and at that point our enhanced Long-Term Disability coverage will begin. Here are a few examples of your weekly payroll deduction:
Annual Salary of $20,000 per year: Age Band <25 30-34 35-39 40-44 45-49 50-54 55-59 60-64
Weekly Payroll Deduction $1.16 $1.56 $1.38 $1.43 $1.85 $2.32 $3.01 $3.67
Annual Salary of $40,000 per year: Age Band <25 30-34 35-39 40-44 45-49 50-54 55-59 60-64
Weekly Payroll Deduction $2.31 $3.11 $2.65 $2.87 $3.54 $4.64 $5.78 $7.35
Annual Salary of $60,000 per year: Age Band <25 30-34 35-39 40-44 45-49 50-54 55-49 60-64
Weekly Payroll Deduction $3.47 $4.66 $3.98 $4.30 $5.30 $6.95 $8.66 $11.00
Voluntary Accident New this year, NAC will offer Voluntary Accident coverage through Guardian, which will replace Allstate. Payroll deductions for employees on Allstate coverage will be turned off. An Accident plan pays you cash benefits that
correspond with hospital and intensive care confinement. Your plan may also include coverage for a variety of occurrences, such as: dismemberment, dislocation or fracture, ambulance services, physical therapy, and more.
The cash benefits can be used to help pay for deductibles, treatment, rent, and more.
Employees have access to two plan options, the Bronze Plan and the Silver Plan. The Value plan will save you money through payroll deduction, while the Advantage Plan will give you more at the time of claim. Please review the plan summaries for details on your plan and take a few minutes to watch how Accident may help you here.
Your premiums for this benefit will be deducted on a post-tax basis. Weekly Accident Rates Rates Employee only Employee + Spouse Employee + Child(ren) Family
Bronze Plan $1.79 $2.51 $2.55 $3.27
Silver Plan $2.74 $3.98 $4.20 $5.44
Voluntary Critical Illness with Cancer New this year, NAC will offer Voluntary Critical Illness with Cancer coverage through Guardian, which will replace Allstate. Payroll deductions for employees on Allstate coverage will be turned off.
When enrolled with Critical Illness with Cancer coverage, you select the benefit coverage amount you want based on your individual need and your budget. If you have covered family members, Guardianâ&#x20AC;&#x2122;s coverage also
provides cash benefits for them. If diagnosed with a covered critical illness, you will receive a cash benefit based on the percentage for the condition. Please review the plan summary for details on your plan, and take a few minutes to watch how Critical Illness may help you here. Your premiums for this benefit are deducted on a posttax basis. Employee Weekly Payroll Deductions (children covered at no cost under employee election) Benefit Amount <30 30-39 40-49 50-59 $5,000 $0.70 $0.88 $1.67 $3.33 $10,000 $1.41 $1.75 $3.35 $6.67 $15,000 $2.11 $2.63 $5.02 $10.00 $20,000 $2.82 $3.51 $6.69 $13.34 Spouse Weekly Payroll Deductions <30 Benefit Amount 30-39 40-49 50-59 $2,500 $0.35 $0.44 $0.84 $1.67 $5,000 $0.70 $0.88 $1.67 $3.33 $7,500 $1.06 $1.32 $2.51 $5.00 $10,000 $1.41 $1.75 $3.35 $6.67
60-69 $6.00 $12.00 $18.00 $24.00
70+ $10.97 $21.95 $32.92 $43.89
60-69 $3.00 $6.00 $9.00 $12.00
70+ $5.49 $10.97 $16.46 $21.95