Benefits
The following pages summarize the benefits available
to all regular full-time employees of Bullen Ultrasonics. Most benefits
begin upon the employee’s completion of a 90-day introductory period.
Medical
Insurance
Health insurance is available to all regular full-time employees of Bullen
Ultrasonics through Medical Mutual of Ohio. Bullen Ultrasonics pays 80%
of the plan premium leaving the employee responsible for 20%. The
following is a brief synopsis of this medical plan:
Plan Overview |
PPO |
Non-PPO |
Physician Office/Clinic Services |
$ 10.00 copay |
$ 400.00 calendar year deductible
PLUS 30.0% of covered charges |
Outpatient Hospital Services |
$10.00 copay |
$ 400.00 calendar year deductible
PLUS 30.0% of covered charges |
Emergency Room Services |
$ 50.00 copay |
$ 50.00 copay
PLUS 30.0% of covered charges |
Inpatient Hospital Services |
100% Coverage No deductible |
$ 400.00 calendar year deductible
PLUS 30.0% of covered charges |
Outpatient Physician
Hospital Services |
$10.00 copay |
$ 400.00 calendar year deductible
PLUS 30.0% of covered charges |
Inpatient Physician
Hospital Services |
100% Coverage No deductible |
$ 400.00 calendar year deductible
PLUS 30.0% of covered charges |
Prescription
Drug
- Administered by: Medco
- Generic Copay: $8.00
- Preferred Brand Copay: $15.00
- The above Copays apply if
filled at a participating pharmacy. Please refer to your benefit
booklet-certificate for benefits if a non-participating pharmacy is
used.
.
Plan Maximums |
PPO |
Non-PPO |
Individual Calendar
Year Deductible |
$
200.00 |
$
400.00 |
Family Calendar
Year Deductible |
$
400.00 |
$
800.00 |
Individual Out-of-Pocket
Expense Limit |
$500.00 |
$
1000.00 |
Family Out-of-Pocket
Expense Limit |
$1000.00 |
$
2000.00 |
Life
Insurance
A basic life/accidental death and dismemberment plan through Fortis /
Assurant Life is provided to all regular full-time employees with the entire
premium paid by Bullen Ultrasonics:
Basic-Group Term Life /
Occupational Accidental Death &
Dismemberment |
Under age 70 |
$ 25000 |
At age 70 |
$ 16250 |
At age 75 |
$ 11250 |
Additional life insurance may be purchased by the
employee through payroll deduction in amounts up to $500,000.
Flexible
Spending Account
All regular full-time employees are eligible to participate in Bullen
Ultrasonics’ Flexible Spending Account. This plan allows employees
to pay for certain medical and dependent care expenses on a pre-tax
basis. By paying for these expenses before they are taxed, the employee
lowers their taxable income resulting in lower taxes and an increase in
take-home pay.
Short
Term Disability
All regular full-time employees are provided Bullen Ultrasonics’ Short
Term Disability Coverage free of charge. The maximum benefits allowed
for Short Term Disability is six (6) months. The first two (2) weeks
during a Short Term Disability Period are unpaid. The next four (4)
weeks are paid at 100% wages on a 40-hour week. The remaining time on
Short Term Disability is paid at 80% of the employee’s 40-hour week.
Long
Term Disability
All regular full-time employees qualify for Bullen Ultrasonics’ Long
Term Disability Coverage. Benefits begin after 6 months of
disability. Bullen Ultrasonics pays for the basic plan, which covers
the employee for payments of 50% of their base weekly wage up to $2000.00 per
month. The employee may increase their coverage by payment of an
additional premium to increase their coverage to 60% of the base weekly wage
up to $5000.00 per month.
Vacation
A liberal vacation plan is provided for all regular full-time employees as
addressed in the Employee Handbook.
Profit
Bonus Programs
All regular full-time employees are eligible to participate in the monthly
bonus program. Regular full-time and part-time employees are eligible
to participate in the year-end bonus program.
Retirement
Plans
Regular full-time and part-time employees participate in Bullen Ultrasonics
retirement programs. The first program is a money purchase pension plan
fully funded by Bullen Ultrasonics. The second program is a profit
sharing plan, again fully funded by the company.
Holidays
Regular full-time employees qualify for Bullen’s 10 paid holidays each
year:
1.
Employee’s Birthday.
2.
New Years Day (January 1).
3.
Good Friday (Friday before Easter).
4.
Memorial Day (last Monday in May).
5.
Independence Day (July 4).
6.
Labor Day (first Monday in September).
7.
Thanksgiving (fourth Thursday in November).
8.
Day after Thanksgiving.
9.
Christmas (December 25).
10.
Additional year-end holiday (usually the day before or after
Christmas).
Fitness
Center
Bullen Ultrasonics provides free of charge the use of a state of the art
Fitness Center at the Bullen Tech Center Facility. This facility is
available 24-hours a day for use by all employees and their family members
who live with them that are 18-years or older.
Educational
Assistance
Educational assistance is available for all regular full-time
employees. Employees in approved educational programs receive 100%
reimbursement for books, tuition and fees.
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