FY 2018 Benefit Summary

Overview

The FY 2018 Benefit Summary provides a comprehensive snapshot of the employee benefits offered by the organization for fiscal year 2018. This document is designed to help current and prospective employees understand the value of the total compensation package, including health, dental, vision, retirement, and additional wellness resources.

Key objectives of the summary are to:

• Clarify eligibility criteria for each benefit.
• Outline the employers financial contribution versus employeepaid portions.
• Provide cost estimates for typical family scenarios.
• Highlight any changes or enhancements introduced in FY 2018.

Health Benefits

The health benefits package for FY 2018 remains one of the most competitive in the industry, offering a range of options to suit diverse employee needs.

Medical Insurance

Dental and Vision

Dental and vision coverage are offered as supplemental plans with a 100% employer contribution for the employee and 80% for dependents.

• Routine cleanings, basic restorations, and orthodontics (up to $1,500 per year).
• Vision exam, frames, lenses, and contact lenses allowance.

Retirement Plans

Investing in the future is a core part of the FY 2018 benefits philosophy. Employees have access to two primary retirement vehicles:

401(k) Plan

• Company match: 100% of the first 4% of salary contributed.
• Automatic enrollment at 3% of base pay.
• Wide selection of mutual funds, targetdate options, and selfdirected brokerage.

Employee Stock Purchase Plan (ESPP)

• Purchase shares at a 15% discount.
• Contribution limits: up to 10% of gross compensation.
• Lookback feature based on the lower of the stock price at the beginning or end of the offering period.

Wellness Programs

The FY 2018 Benefit Summary emphasizes employee wellbeing beyond traditional insurance. The following programs are available at no additional cost to staff:

• Employee Assistance Program (EAP): Confidential counseling, legal advice, and financial planning.
• Fitness Reimbursement: Up to $500 per calendar year for gym memberships, fitness classes, or homeexercise equipment.
• Health Challenges: Quarterly incentives for meeting step goals, biometric screenings, and nutrition workshops.
• Mental Health Days: Four paid days per year dedicated to mental health recovery.

Frequently Asked Questions

When do benefits become effective?

All benefits become active on the first day of the month following 30 days of continuous employment.

Can I change my election outside of open enrollment?

Yes. Qualifying life events (marriage, birth, loss of other coverage, etc.) allow a onetime change within 30 days of the event.

How do I enroll?

Enroll via the companys benefits portal. Detailed stepbystep guides are available under the Resources tab.

What happens if I leave the company?

Medical coverage can be continued through COBRA for up to 18 months, with the employee paying the full premium plus a 2% administrative fee.

Are there any upcoming changes for FY 2019?

All changes will be communicated during the FY 2018 yearend review. Stay tuned for the FY 2019 Benefit Preview released in December.