We offer our employees a broad spectrum of benefits. The information contained in this section is a summary of the benefits that are available. From time to time, the benefits that are offered may change. For a comprehensive understanding of employee benefits, information will be provided through our human resources department during the employment process.
All regular, full-time employees and eligible dependents are eligible to enroll on the first day of employment with the company. We offer a PPO Plan giving our employees the flexibility of staying in-network or going to non-network providers. Employees participating in the health plan may make bi-weekly payroll contributions on a pretax basis, which reduces federal, state, and FICA tax liabilities.
Employees electing health insurance will benefit from a comprehensive prescription drug benefit program. In addition, nonemergency, extended-use prescriptions are available via mail order at a substantial discount.
All regular full-time employees and eligible dependents may enroll on the first day of employment with the company.
Employees may contribute up to $2,500 of pretax payroll dollars to a medical flexible spending account. The medical flexible spending account allows participating employees to be reimbursed with pretax dollars for certain out-of-pocket medical expenses not covered by insurance.
Employees may contribute up to $5,000 of pretax payroll dollars to a dependent care flexible spending account. The dependent care flexible spending account allows participating employees to be reimbursed with pretax dollars for certain expenses for care of dependent children under age 13, or for a spouse or dependent who is physically or mentally incapable of caring for himself or herself.
The 401(k) plan gives you the opportunity to accumulate savings for retirement at the same time that you reduce your taxable wage base. You are eligible to enroll in this plan if you are 18 years old and you are a part- or full-time employee. You may elect to contribute between 1% and 60% of your eligible pay on a pretax basis, up to the annual IRS dollar limit. Exelead will contribute 4% of your eligible compensation, regardless of your own participation.
As an employee, you automatically receive basic life insurance of two times your base annual earnings (BAE) plus an average of your bonus, and Accidental Death and Dismemberment (AD&D) coverage of two times your BAE plus an average of your bonus to plan maximum. This coverage is completely paid by the company. Additional coverage is available by enrolling in the Supplemental Life Insurance.
The company carries short-term disability (STD) benefits. STD benefits begin on day 5 of sickness or disability. Eligibility for STD is determined by the insurance carrier. The LTD eligibility begins after ninety (90) consecutive days of STD upon approval from the insurance carrier.
CTO is accrued on a per paycheck basis. This means that for each month of service you complete, you will receive a specific number of CTO days based on your level and years of service.
After 6 months of regular full time service, our company will provide financial assistance if you undertake educational courses which will improve your professional skills. These courses must be related to your present position and career development within the company. If you are eligible, you may be reimbursed for tuition costs, registration, and laboratory fees up to a maximum of $5,250 per calendar year. Approval is required in advance of registration.
Employees have access to our Employee Assistance Program (EAP), a confidential resource available to all employees and their immediate family members. EAP offers free, confidential assistance with all issues of daily living anytime.
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