Medical and Prescription Drug You have access to various benefit choices for you and your family — including four medical options designed to help you manage your health and budget. Understanding your choices is the first step to making a decision that will help you and your family. Well-being Programs We offer resources and tools to help you get and stay healthy. This includes 100% coverage for preventive care and free resources for living a healthy lifestyle. Special programs to help you get great care and save money too, such as Aetna Concierge Customer Service, Meru Health Mental Health Care, MSK Direct, Prudent Rx Copay Optimization Program, PinnacleCare health advisory services, and more. Dental We offer benefits to help pay for preventive, basic, and major dental services.
MetLife is the benefits provider for LTD LTD benefits provide you with a portion of your salary in the event you become disabled and cannot work. If you are rendered disabled by a licensed physician, for 90 days or more, you can apply and be considered for the LTD benefit. If approved, you would be eligible to receive 60% of your monthly earnings, up to $15,000 depending on the class defined. If you are currently enrolled in the LTD plan and have chosen the After-tax election, it is important to know that you must enroll electronically through Fidelity as your election will not rollover. Team Members may review their paycheck to confirm After-tax contributions, if applicable. Team Members are provided with two LTD tax options: Option 1 — Employee Paid/Weekly Contribution If you pay the LTD premium with after-tax dollars, and you become disabled, the benefit of 60% (of your predisability wages) is NOT subject to Federal Tax. Therefore, you would receive the full 60% benefit. Option 2 — Company Paid If you become disabled, any disability benefit paid to you would be subject to Federal taxes. So, if the benefit paid is 60% of your pre-disability wages, and you are in the 21% tax bracket, your net benefit check would be about 48% of your normal gross wages.
If you are currently enrolled, during the annual Open Enrollment period, you have the opportunity to review your current participation in LTD and can make changes to your current LTD tax election. Note: LTD contributory plans are governed by IRS regulations. The IRS has a three-year “look back” on LTD plans. If you contribute from the inception of the policy and continue to contribute throughout the policy years, any benefit paid to you will not be subject to Federal Tax. If, however, you change your mind during the policy period, you will have to pay the premium for 3 full years before the benefit is not subject to tax. If you pay the premium for 1 or 2 years in the 3 year period, the taxable portion is prorated accordingly.
Vision Our benefits help pay for eye exams and glasses/contacts. Basic Life Insurance Price Rite Team Members are eligible for 1.5 times their annualized salary in basic life insurance. Long-Term Disability Take advantage of benefits that provide a portion of your salary in the event you become disabled and cannot work. Additional Optional Life Insurance Associates are eligible for up to 3 times their annualized salary in optional life insurance. They can purchase additional financial protection for their family at very competitive prices (subject to the insurer’s underwriting approval). Summary Plan Description
