Employee Benefits 2006-2007
Employee Benefits Approved by the Board of Directors for July 1, 2006 - June 30, 2007
The Board of Directors of Options for Southern Oregon met May 25, 2006 and approved the following benefit package for regular employees who are budgeted for 32 or more hours per week. At this time, coverage for employees who work 20-32 hours/week is still under review.
Health Insurance Benefits
Flexible Spending Account (FSA)
- Options will provide a $1,000 contribution to the Flexible Spending Account to reimburse out-of-pocket medical/pharmacy/dental/vision/alternative care expenses and offset the deductible. The plan will be administered by a Third Party Administrator to increase privacy and streamline reimbursement.
- Employees may elect to make pre-tax contributions to the FSA.
- The debit card or Benny Card for access to the FSA funds on a point-of-sale basis has been approved by the Board. Details are still being worked out.
Life Insurance
- Life and Accidental Death and Dismemberment (AD&D) insurance with a $50,000 benefit level will be provided by Options for insured employees. This means that in the event of an insured employee's death, $50,000 will be paid by the life insurance policy. If the death is determined to be accidental (like a car crash), the AD&D benefit kicks in to increase the benefit to $100,000.
- Dependent Life insurance with a $10,000 spouse benefit and $2,000 benefit for each child will be provided for insured employees.
Long Term Disability (LTD) Insurance
Voluntary Dental Insurance
Options will continue with PacificSource. The new PPO medical plan will have a $500 deductible and a $25 copay. The deductible is waived for Lab and X-Ray. Pharmacy coverage has the same tiered copays of $15/30/50. The plan provides Alternative Care (Chiropractic, Naturopathic and Acupuncture) with a maximum benefit of $1,000. Office visits to alternative care practitioners are covered the same as office visits to physicians ($25 copay and 100% benefit for in-network providers). Deductibles met for current PacificSource policies will be honored. Options requires eligible employees to participate in the insurance program and will only waive medical insurance for comparable group coverage.
Full-time employees will contribute $65.65/month for Individual coverage, $151.00 for Employee and Spouse, $187.11 for Family, $121.45 for Employee and Child(ren). Options agrees to honor domestic partnerships and will allow employees to insure their opposite-sex or same-sex partners. The employee contribution corresponds to 17.5% of the medical premium. Options pays 82.5% of the medical premium for full-time employees and family members.
LTD insurance will be paid by Options. This coverage has a 90-day waiting period and provides 60% of monthly earnings.
Dental insurance with orthodontia coverage will be available on a voluntary (employee-paid) basis. The plan has a $50 deductible, with preventive services paid at 100% and it has a $1,500 annual maximum benefit. The proposal is based on at least 40% of total eligible employees enrolling. The 12-month waiting period for Major Services is waived for all. The 12-month waiting period on Orthodontia will be waived if at least 35 employees with children dependents enroll. Premiums are payroll-deducted and can be paid on a pre-tax basis.
| Employee Only | Employee & Spouse | Employee & Family | Employee & Child(ren) | |
| Dental without ortho | $42.88 | $84.28 | $135.16 | $93.76 |
| Dental with ortho | $43.16 | $84.84 | $140.16 | $98.48 |
Click here for information concerning Options retirement (403B) and annual leave benefits...