INTRODUCTION
ABC Client is pleased to offer you and your family a comprehensive benefits program. Understanding your healthcare options and determining the best plan designs that fit your needs should be a high priority during the Annual Open Enrollment Period. We understand that navigating through your benefits package can be complex and wish to offer as much support and valuable information as possible.
To help you get started, please click on the button below to download and listen to a pre-recorded Open Enrollment session.
BENEFITS OVERVIEW
MEDICAL & PRESCRIPTION PLANS You will continue to have two medical options: the HRA or HSA plan. The medical plans will continue to be administered by BCBSIL. There are no changes to the medical plan designs.
HRA/HSA ABC Client will continue to provide HRA funding of $1,500 for employee-only coverage and $3,000 for all other tiers for those who enroll in the HRA medical plan. For those that enroll in the HSA medical plan, ABC Client will provide a match of $500 for employee-only coverage and $1,000 for all other tiers.
DENTAL PLANS Your dental coverage will continue to be administered through BCBSIL. There are no changes to the dental plan design.
VISION PLAN Your vision coverage will continue to be administered through UHC. There are no changes to the vision plan design.
LIFE AND DISABILITY ABC Client provides full-time employees with Basic Life/AD&D insurance, Short-Term Disability insurance, and Long-Term Disability insurance at no cost to you. You will also continue to have the opportunity to purchase Supplemental Life/AD&D insurance as well as additional Voluntary Long-Term Disability insurance. Life and Disability benefits will continue to be administered through The Standard.
FLEXIBLE SPENDING ACCOUNTS (FSA) ABC Client offers Healthcare and Dependent Care Flexible Spending Accounts as an additional resource to help pay for out-of-pocket costs. The administrator will continue to be HealthEquity.
401(k) As an eligible full-time employee, ABC Client gives you the option of participating in a Pre-tax 401(k) or a Post-tax ROTH 401(k). ABC Client will match up to 50 cents for each $1 you contribute up to 5% of eligible compensation. The match is deposited after the fiscal year has ended, usually in March.
ENROLLMENT CONSIDERATIONS
Elections you make during open enrollment will become effective on January 1, 2024. This year's open enrollment is active. This means your previous year's benefits will not roll over into this upcoming plan year. All employees must log in to UKG and complete your online enrollment by November 21, 2023 at 11:59 PM. If you have questions about any of the benefits mentioned in this guide, please don’t hesitate to reach out to your Human Resource team or The Graham Company’s Service Line at 1-888-842-1488. Open enrollment is the period each year when you can make changes to your benefits. This guide will outline benefit options that are available to you and your family.
WHO IS ELIGIBLE?
Coverage for all newly hired eligible employees is effective 1st of the month following 60 days of full-time employment. If you waive coverage, you will not be able to sign up for benefits until the next open enrollment period.
DEPENDENT COVERAGE
In addition to electing coverage for yourself, you can elect to cover your eligible dependents. Your eligible dependents include your spouse, your children up to age 26 regardless of student status, marital status, financial dependence, or residence, and your children of any age who are mentally or physically disabled and depend on you for support.
EMPLOYEES EXPERIENCING A QUALIFIED CHANGE OF STATUS
Unless you experience a life-changing qualifying event, you cannot make changes to your benefits until the next open enrollment period.
Qualifying events include:
- Marriage or Divorce
- Birth or adoption of a child
- Change in child’s dependent status
- Death of a spouse, child, or other qualified dependent
- Change in employment status or a change in coverage under another employer-sponsored plan
- Entitlement to Medicare or Medicaid
You must notify the Human Resources Department of a change in status within 30 days of the event.
For more information on how to enroll, visit the Enrollment Information page.