To help full-time employees pay for their benefits, RHD gives Benefit Dollars. You can take the Benefit Dollars as additional taxable income or buy benefits on a pre-tax basis. The formula RHD uses to calculate your benefit dollars is a percentage of your regular gross salary plus either:
1) An additional per pay contribution towards the cost of the RHD health insurance premium for the medical plan you select (called health allowance) or
2) An amount per pay for those employees who do not choose health insurance coverage from RHD (called Waiver Dollars).
Check with your unit director for your unit’s Benefit Dollars percentage. You are eligible for coverage and benefit dollars on the first day of the month following three months of full time employment. The cost of the plans you select will be deducted from the first pay check in the month you are eligible.
COMPANY PAID COVERAGE:
Short-Term Disability (STD)
STD is company paid for all full-time employees regularly working at least 80% of their unit’s regular work week. The benefit will pay 60% of your salary, if disabled, for up to 15 weeks, after a two-week waiting period, during which sick/vacation time is used. Unlike the other benefits, you must be employed for 12 months before you are eligible for this benefit.
VOLUNTARY COVERAGE OPTIONS
RHD offers a variety of HMOs and point-of-service plans, depending on the area of the country. More detailed information on each carrier is available at your unit or through the RHD Benefits Department.
High and Low options are available in all areas.
Term Life Insurance
Term Life insurance pays a benefit in the event of death of a covered individual. Employees may elect up to $50,000 for themselves, up to $30,000 for a spouse or domestic partner, and up to $10,000 for each child.
Accidental Death & Dismemberment (AD&D)
Insurance pays a benefit to your beneficiary for your accidental death or to you for loss of a limb.
Long Term Disability-(LTD)
This plan covers your salary at 60% when STD is finished. The coverage ends when you are no longer medically disabled, or age 65, whichever comes first. Some pre-existing condition provisions may apply.
Flexible Spending Accounts
Flexible Spending Accounts are not insurance coverage. They are tax-free accounts where money is withheld from your pay before tax, to be used for either medical costs not covered by insurance, day care expenses, or public transportation/parking fees incurred traveling to work. The money is held until a reimbursement request is submitted. The money is then reimbursed with no tax withheld.
In addition to the 60% of Short-term Disability, Allstate Life offers the opportunity to purchase an additional 40% coverage, thereby providing 100% of your salary should you become disabled.
Universal Life Insurance
If additional life insurance is needed, Allstate offers supplemental policies based on your insurance needs.
Helps offset the direct and indirect expenses resulting from an accident, such as co-payments, deductibles, and other costs not covered by traditional health plans.
Helps pay the direct or indirect costs of cancer. These plans offer screening benefits that encourage regular health exams.
403(b) RETIREMENT SAVINGS PLAN
RHD offers all employees a chance to save for their retirement. Serviced by Great West Life & Annuity Insurance Co., “RHD Investor’s Choice” is an excellent way to plan for the future. Similar to a 401(k), a 403(b) deducts money pre-tax from your paycheck, lowering your taxable income. The money is invested in funds that you select. You can control your investments online or through an 800 number.