your 2020 benefits guide - woodward, inc. · outside a woodward health center referred benefits...
TRANSCRIPT
YOUR 2020 BENEFITS GUIDE
WELL BUILT
ROCKFORD/COLORADO
ELIGIBILITY AND ENROLLMENTTake a look at who you can cover and how to enroll.
Who You Can CoverYou are eligible to enroll in Woodward benefits if you are:
n An active full-time member, or
n A benefit-eligible part-time member who works 20 hours or more per week and has completed 30 days of employment.
The benefits you elect during Open Enrollment will be effective the following January 1.
If you enroll for coverage, you can also enroll the following dependents:
n Your legal spouse or certified domestic partner
n Your children up to age 26, regardless of student status, including:
Natural children, stepchildren, legally adopted children and children placed with you for adoption
Children who are the subject of a Qualified Medical Child Support Order (QMCSO) issued to you
Children for whom you or your spouse are the legal guardian
MARRIED WOODWARD COUPLES
If you and your spouse are both employed by Woodward, you can each cover yourself as a member, or one of you can be covered as a member and enroll the other as a spouse. Only one of you can cover your dependent children.
What’s InsideEligibility and Enrollment 1
Medical 3
WHC Plan 4
OneWoodward HRA Health Plan 6
Prescription Drugs 9
Dental 12
Vision 13
Flexible Spending Accounts 14
Life and AD&D 17
Disability 19
Voluntary Benefits 21
Other Benefits 23
Contacts Back Cover
Choose Carefully!Make sure you choose your benefits carefully! Outside of Open Enrollment, you can only make changes during the year if you experience a qualifying life event. This includes:
n Marriage, divorce, legal separation or annulment
n Birth, adoption or permanent legal guardianship of a child
n Death of a spouse or child
n Loss of spouse’s or child’s coverage under another health plan
n A qualified court order that makes you legally responsible for a child’s health care coverage
n A spouse or child becoming ineligible for coverage
You have 30 days from your qualifying life event to make changes. You’ll need to submit documentation to support the change (such as a marriage or birth certificate). If you miss this deadline, you must wait for the next Open Enrollment.
Learn MoreVisit https://wss.woodward.com/health for more details about your benefits and coverage options.
Open Enrollment Is November 6-November 13!Open Enrollment is your chance to review your needs and choose the benefits that are right for you. Follow these steps for a smooth, stress-free enrollment.
1. Get to know your options. Read this Benefits Guide to understand your choices.
2. Make sure your dependents are still eligible (see opposite page). Covering ineligible dependents under our benefit plans drives up our costs and can result in disciplinary action up to and including termination. That’s why Woodward will conduct dependent audits in 2020.
3. Choose carefully. You can’t make any changes until the next Open Enrollment unless you have a qualifying life event (see opposite page).
4. Enroll by November 13. See below for instructions.
5. Watch for your benefits confirmation statement. It will be mailed to your home on November 15. Review it for accuracy, and notify your local Benefits Administrator by November 26 if anything is incorrect.
How To Enroll 1. Log into INFOR (use your network username and password). You can access the INFOR Login link from the
home page of Inside Woodward using the Member Services drop-down tab.
2. Click on To Do from the menu, hover over Pay And Benefits and click on Open Enrollment.
3. Click on Continue to begin your enrollment. Be sure to read and follow all system prompts.
n To view a plan description of any benefit, click on the corresponding link to learn more.
n To add a qualified dependent to your plan, you’ll need to contact your local Benefits Administrator and submit a paper enrollment form. You can find the form on InsideWoodward under the Benefits Forms link.
IF YOU’RE A NEW MEMBER
You must enroll for benefits within 30 days of your date of hire. Fill out and return benefits paperwork to the Total Rewards Department (your local Benefits Administrator).
No Enrollment = No Benefits!If you don’t enroll for benefits during the Open Enrollment window or during your new hire window, you won’t have any benefits for 2020 (except for Company-paid life and AD&D insurance and disability benefits).
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For 150 years, Woodward has made our mark by crafting innovative solutions for our customers. Why should it be any different when it comes to our benefits? We’re always searching for the best ways to offer you quality benefits at costs you can afford. That’s why we offer the Woodward Health Centers to take care of your health care needs. It’s just one of the ways our benefits are built for you.
BUILT FOR YOU
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MEDICALYou have two choices for medical coverage:
n Woodward Health Center (WHC) Plan
n OneWoodward HRA Health Plan
How are the plans alike?Both plans:
n Offer comprehensive medical coverage, including doctor’s office visits, emergency care, surgery, hospitalization and mental health care.
n Cover preventive care at 100%
How are the plans different?With the WHC Plan:
n Most of your care is provided at a Woodward Health Center.
n There’s no out-of-pocket expense for care provided at a Woodward Health Center.
With the OneWoodward HRA Health Plan:
n You can see any provider, but you’ll save money if you use an in-network provider.
n You get a Company-funded Health Reimbursement Account (HRA) to help you pay for care.
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DO YOU WANT ONE STOP FOR MOST CARE AND THE LOWEST OUT-OF-POCKET COSTS?
ARE YOU WILLING TO PAY MORE FOR THAT FLEXIBILITY?
CONSIDER THE WHC PLAN. CONSIDER THE ONEWOODWARD HRA HEALTH PLAN.
Yes Yes
No
No, I’d rather have the flexibility to see any provider.
Which Plan Is Right for Me?
WHC PLANWith the WHC Plan, it’s easy and convenient to get the care you need. You’ll visit a Woodward Health Center for most of your health care needs.
How the Plan Works
FIRST, YOU MAKE ONE STOP FOR MOST CARE.
At a Woodward Health Center, your Care Coordinator helps you manage all of your health care needs. You can see the doctor, have routine testing done, such as labs and mammograms, and get basic one-time prescriptions like antibiotics. Plus you have access to free wellness services like biometric screenings and coaching. You pay nothing out-of-pocket for care at a Woodward Health Center.
THEN, GET REFERRALS IF YOU NEED THEM.
If you need referrals to a specialist or additional testing, your Patient Support Specialist (CO) or Care Navigator (RKFD) will set it up. You may pay a copay for some referred services. If you reach your out-of-pocket maximum, the plan will pay 100% of your eligible expenses for the rest of the plan year.
For non-referred care, you may have to meet a deductible before the plan will pay benefits. Then you and the plan will share costs. If you reach your out-of-pocket maximum, the plan will pay 100% of your eligible expenses for the rest of the plan year.
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You’re Well Covered With Away From Home CareHave family members away from home? With Guest Membership, they’ll have easy access to care while they’re away. Woodward Health Center members can be “guests” of a participating Blue Cross and Blue Shield plan while away from their home service area for 90 consecutive days or more.*
Rockford: Learn more by contacting the Woodward Health Center at 1-779-696-0020.
Colorado: Call Anthem Guest Membership at 1-800-827-6422.* Some states may have regions that are not covered.
Contact Anthem for details.
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WHC PLAN AT A GLANCEWith the WHC Plan, you get the best value when you use a Woodward Health Center. If you use a non-referred provider, you’ll pay more for care.
WHC Plan
At a Woodward Health Center Inside Woodward Health Center Non-referred in-network or out-of-network
What you pay
n Comprehensive annual health maintenance physicals (preventive care)
n Acute care for illness and injury
n Well-child visits
n Imaging
n Sports medicine consultations
n Basic lab services
n Minor surgical procedures
$0 40% after deductible
n Lifestyle and disease management health services (health assessments, biometric screenings and coaching)
n Pharmacy consultations for complex medication management
n Limited generic prescription medication dispensing
n Care coordination
$0 Not covered
Outside a Woodward Health Center Referred benefits Non-referred in-network or out-of-network1
Deductible (The amount you must pay before the plan will pay benefits for some services. Amounts you pay toward the deductible count toward your out-of-pocket maximum.)
Single $0 $300
Family $0 $600
What you pay
Office visits $30 copay 40% after deductible
Urgent care $35 copay 40% after deductible
Inpatient hospital2 $300 copay/admission 40% after deductible
Outpatient hospital$200 copay for surgery
$100 copay for advanced radiology (MRI, CT, PET)
40% after deductible
Lab tests/diagnostic imaging $0 40% after deductible
Emergency care2$150 copay for ER services
$0 for ambulance service
$150 copay for ER services
$0 for ambulance service
Mental health and substance abuse$300 copay for inpatient
$0 for outpatient40% after deductible
Out-of-pocket maximum3 (The maximum amount you will have to pay out of pocket for the plan year. If you reach this limit, the plan will pay 100% of your eligible expenses for the rest of the plan year.)
Single $2,500 $7,150
Family $5,000 $14,300
1 If you use an out-of-network provider, you are responsible for paying any charges above the maximum allowed amount.2 Pre-certification required prior to inpatient hospitalization or within 2 working days after an emergency admission. 3 Expenses that count toward meeting your out-of-pocket maximum include medical plan copays and coinsurance, prescription drug copays and
coinsurance and amounts you pay toward the deductible. Amounts above the maximum allowed charge for non-referred out-of-network care do not count toward your out-of-pocket maximum.
ONEWOODWARD HRA HEALTH PLANThe OneWoodward HRA Health Plan is administered by Anthem. With this plan, you’re well prepared — you get a company-funded Health Reimbursement Account (HRA) to help pay for care.
How the Plan Works
FIRST, USE YOUR HRA FROM WOODWARD.
For 2020, your HRA account is $750 for single coverage and $1,500 for family coverage. This HRA is used to pay for care before you have to dip into your own pocket. At the end of the year, any unused HRA dollars roll over to the next year.
THEN, PAY TOWARD YOUR DEDUCTIBLE.
You pay 100% of the cost for medical care and prescription drugs (except for in-network preventive care) until you meet your deductible. Remember, your HRA dollars are used first to pay for care.
NEXT, SHARE COSTS WITH THE PLAN.
Once you meet your deductible, you’ll share costs with the plan until you meet the out-of-pocket maximum. You can use any provider, but you’ll save money if you use in-network providers.
FINALLY, THE PLAN PAYS THE REST.
If you reach your out-of-pocket maximum, the plan will pay 100% of your eligible expenses for the rest of the plan year.
Stay Well With 100%-Paid Preventive CarePreventive care can help spot health problems before they become big issues. Woodward covers preventive care at 100%! You pay nothing when you visit an in-network doctor. Covered services include routine physicals, well-woman exams, well-baby exams, blood pressure checks, cholesterol tests and cancer screenings.
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ONEWOODWARD HRA HEALTH PLAN AT A GLANCEWith the OneWoodward HRA Health Plan, you can see any provider. However, you’ll pay a lower, negotiated rate when you visit an in-network provider. If you use an out-of-network provider, you’ll get a lower level of coverage and your costs will be higher. Find an in-network provider by calling 1-844-445-5393 or by visiting www.anthem.com/woodward.
Here’s a look at what you’ll pay when you need care.
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OneWoodward HRA Health Plan
In-network Out-of-network1
2020 Health Reimbursement Account (HRA) from Woodward
Single $750
Family $1,500
Deductible (The amount you must pay before the plan will pay benefits for some services. Amounts you pay toward the deductible count toward your out-of-pocket maximum.)
Single
$1,500
- $750 HRA from Woodward
$750 “real-feel” deductible
Family
$3,000
- $1,500 HRA from Woodward
$1,500 “real-feel” deductible
What you pay
Preventive care2 $0 40% after deductible
Office visits 10% after deductible 40% after deductible
Urgent care 10% after deductible 40% after deductible
Inpatient hospital3 10% after deductible 40% after deductible
Outpatient hospital 10% after deductible 40% after deductible
Lab tests/diagnostic imaging 10% after deductible 40% after deductible
Emergency care3 10% after deductible 40% after deductible
Mental health and substance abuse 10% after deductible 40% after deductible
Out-of-pocket maximum4 (The most you will have to pay out of pocket for the plan year. If you reach this limit, the plan will pay 100% of your eligible expenses for the rest of the plan year.)
Single $2,500 $5,000
Family $5,000 $10,000
1 If you use an out-of-network provider, you are responsible for paying any charges above the maximum allowed amount.2 Plan pays 100% for in-network preventive care based on Anthem’s preventive care guidelines.3 Pre-certification required prior to inpatient hospitalization or within 2 working days after an emergency admission. 4 Expenses that count toward meeting your out-of-pocket maximum include HRA dollars, medical plan coinsurance, prescription drug coinsurance
and amounts you pay toward the deductible. Amounts above the maximum allowed charge for out-of-network care do not count toward your out-of-pocket maximum.
Well-Above-Average BenefitsWe work hard to offer you well-built benefits at affordable costs.
n On average, your contributions for coverage (your paycheck costs) in the WHC Plan are about 30% lower than other companies.
n In the OneWoodward HRA Plan, your contributions for coverage are about 7% to 13% lower than other companies.
Source: Kaiser Family Foundation 2018 Employer Health Benefits Survey
WHC Plan OneWoodward HRA Health Plan
Member $32.34 $42.26
Member + spouse/domestic partner $107.04 $137.88
Member + child(ren) $69.12 $90.06
Family $143.82 $185.70
Paycheck CostsHere are your bi-weekly premiums for the health plans (medical and prescription drugs).
Spouse Access FeeIf your spouse/domestic partner has other coverage available through his or her employer and you enroll your spouse/domestic partner in a Woodward medical plan, you’ll pay a spouse access fee of $102 bi-weekly. Please see the Frequently Asked Questions (FAQs) on Inside Woodward for more details.
Tobacco SurchargeIf you or a covered spouse/domestic partner or child uses tobacco products, you’ll pay an additional $46 bi-weekly surcharge for your medical benefits. You’ll pay one surcharge if multiple family members are tobacco users. You’ll be asked to verify the tobacco user status for each covered family member during the enrollment process.
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PRESCRIPTION DRUGSWhen you enroll in a Woodward medical plan, you automatically get prescription drug benefits through CVS Caremark. Both plans cover the same prescription drugs. The difference is how much each plan pays.
How the Plans WorkWHC PLAN
FIRST, SHARE COSTS WITH THE PLAN.
You share costs with the plan until you meet the out-of-pocket maximum (except for certain preventive drugs specific to chronic conditions).
NEXT, THE PLAN PAYS THE REST.
If you reach your medical out-of-pocket maximum, the plan will pay 100% of your eligible medical and prescription expenses for the rest of the plan year.
ONEWOODWARD HRA HEALTH PLAN
FIRST, PAY TOWARD YOUR DEDUCTIBLE.
If you haven’t met your medical plan deductible, you pay 100% of the cost for your prescription drugs (except for certain preventive drugs specific to chronic conditions). Remember, your HRA dollars are used first to pay for care.
NEXT, SHARE COSTS WITH THE PLAN.
Once you meet your medical deductible, you’ll share costs with the plan until you meet the out-of-pocket maximum.
FINALLY, THE PLAN PAYS THE REST.
If you reach your medical out-of-pocket maximum, the plan will pay 100% of your eligible medical and prescription expenses for the rest of the plan year.
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Types of PrescriptionsSHORT-TERM PRESCRIPTIONS
For short-term prescriptions, you can fill your prescriptions through retail pharmacies. You can choose from more than 68,000 retail pharmacies nationwide, including independent pharmacies and chain pharmacies such as Walmart, Walgreens, Meijer, Shopko, King Soopers or CVS. Find a pharmacy by visiting www.caremark.com or calling 1-844-345-3240.
LONG-TERM PRESCRIPTIONS
Maintenance drugs are drugs you take for long-term or chronic conditions, such as blood pressure medications. You’ll save money when you get 90-day supplies of these medications through the mail-order program. Your medications will be delivered directly to you with free standard shipping.
Once you receive two 30-day supplies of a maintenance medication, you’ll receive a letter notifying you that you need to switch to a 90-day refill limit. If you want to opt out and continue to pick up a 30-day supply from any participating pharmacy, you must call CVS Caremark. However, you’ll pay more for a retail 30-day supply than a 90-day supply through mail order.
Get started with mail-order by visiting www.caremark.com or calling 1-844-345-3240.
SPECIALTY DRUGS
While CVS Specialty isn’t a neighborhood pharmacy you can walk into, your specialty medication can be available for pickup at any CVS Pharmacy, including those inside Target stores. It’s a convenient way to get all of your medications in one place. You can also choose to have your specialty medications delivered to your home. For more details, call CVS Caremark at 1-844-345-3240.
Be Well Aware of CostsSet up an account at www.caremark.com to get up-to-date information about your prescription drug benefits. When you log in, you’ll be able to:
n Search for pharmacies near you.
n Find out how much a prescription will cost and what options you have.
n Review the preferred formulary list to see if your prescription is on it.
n Get details on specialty drugs.
PRESCRIPTION DRUG BENEFITS AT A GLANCEPrescription drugs are covered like any other medical expense. In the WHC Plan, there’s no deductible to meet. In the OneWoodward HRA Health Plan, prescription drugs are subject to the medical deductible.
Here’s what you pay when you get a prescription filled.
WHC Plan OneWoodward HRA Health Plan
Retail(30-day supply)
Mail Order(Up to a 90-day supply)
Retail(30-day supply)
Mail Order(Up to a 90-day supply)
Medical deductible (The amount you must pay before the plan will pay benefits for some services. Amounts you pay toward the deductible count toward your out-of-pocket maximum.)
Single N/A
$1,500
- $750 HRA from Woodward
$750 “real-feel” deductible
Family N/A
$3,000
- $1,500 HRA from Woodward
$1,500 “real-feel” deductible
What you pay
Preventive drugs1 $0 $0 $0
Generic (Tier 1) 10% ($20 maximum) 10% ($40 maximum) 10% after medical deductible
Preferred formulary (Tier 2)2 20% ($20 minimum, $50 maximum)
20% ($40 minimum, $100 maximum) 10% after medical deductible
Non-preferred formulary (Tier 3) 20% ($40 minimum, $1,000 maximum)
20% ($80 minimum, $2,000 maximum) 10% after medical deductible
Medical out-of-pocket maximum3 (The maximum amount you will have to pay out of pocket for the plan year. If you reach this limit, the plan will pay 100% of your eligible medical and prescription drug expenses for the rest of the plan year.)
Single Combined with medical $2,500
Combined with medical $2,500
Family Combined with medical $5,000
Combined with medical $5,000
1 Certain preventive drugs used to treat specific conditions are covered at 100%.2 The preferred formulary list is updated quarterly and medications may be added or removed. Before you fill a prescription, view the list by logging into
your account at www.caremark.com or talk with your pharmacist to be sure you are getting a preferred formulary drug or a generic option, if available. 3 Expenses that count toward meeting your out-of-pocket maximum include HRA dollars (OneWoodward HRA Health Plan only), medical plan
coinsurance and copays, prescription drug coinsurance and copays and amounts you pay toward the deductible. Amounts above the maximum allowed charge for non-referred out-of-network or out-of-network care do not count toward your out-of-pocket maximum.
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Well Taken Care OfThe WHC provides basic, one-time medications (such as antibiotics) at no cost to you, so you don’t have to make a separate trip to the pharmacy.
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DENTALThe Dental Plan, administered by Anthem, provides coverage for preventive treatment, basic care, major care and orthodontia.
DENTAL PLAN AT A GLANCEHere’s a look at your dental benefits. You can see any provider, but you’ll save money if you use Anthem in-network providers. Find one by visiting www.anthem.com/woodward or calling 1-855-769-1467. Our network is the Anthem Dental Complete network.
Dental Plan
In-network Out-of-network1
What you pay
Diagnostic and preventive (routine exams, cleanings, X-rays) $0 $0
Basic (fillings, simple extractions) $0 20%
Major (crowns) $0 20%
Endodontics (root canals), periodontics (scaling) and prosthodontics (dentures and bridges)
$0 20%
Oral surgery (surgical extractions)2 $0 $0
Orthodontia (dependent children and adults) 50% 50%
Annual benefit maximum2,3 (The most the plan will pay in a calendar year.)
Per person $2,000 $1,500
Orthodontia lifetime maximum (The most the plan will pay for orthodontia per lifetime.)
Per person $1,500 $1,500
1 If you use an out-of-network provider, you are responsible for paying any charges above the Maximum Allowed Amount.2 Oral surgery does not apply to the annual benefit maximum. 3 Annual benefit maximum is combined for in-network and out-of-network providers.
VISIONVision coverage is offered through Vision Service Plan (VSP). The Vision Plan covers routine exams, lenses and frames, and contacts.
VISION PLAN AT A GLANCEHere’s a look at what’s covered and what you pay. You can see any provider, but you’ll save money when you use VSP in-network providers. Find an in-network provider by calling 1-800-877-7195 or log in at www.vsp.com. You can register your account by entering the ID number on your Anthem Medical/Dental ID card.
Vision Plan
In-network Out-of-network1
What you pay
WellVision exam (once per calendar year) $10 copay (up to $39 copay for routine retinal screening) All amounts over $40
Frames (once every other calendar year) $15 copay for frames and glasses, then all amounts over $1502 All amounts over $40
Lenses3 (once per calendar year)
Single vision $15 copay for frames and glasses All amounts over $40
Bifocal $15 copay for frames and glasses All amounts over $50
Trifocal $15 copay for frames and glasses All amounts over $60
Contacts lenses (once per calendar year in addition to glasses)
Contact lens exam (fitting and evaluation) Up to $60 copay All amounts over $150 (combined allowance for exam and contacts)
Contacts $0, then all amounts over $150 All amounts over $150 (combined allowance for exam and contacts)
Diabetic Eyecare Plus Program (services provided by your VSP doctor related to diabetic eye disease, glaucoma and age-related macular degeneration; as needed)
Exam and follow-up care4 $20 copay Not covered
1 When you use an out-of-network provider, you must pay the cost up front and then file a claim to be reimbursed up to the out-of-network allowance.2 You get an $80 Costco® frame allowance and a $170 allowance for featured frame brands. Costco benefit is only available at Costco stores (not online).
You get a 20% discount on all amounts over the plan allowance. 3 There is an additional charge for some lens enhancements such as progressive lenses. 4 Retinal screenings are covered for eligible members with diabetes. Limitations and coordination with medical coverage may apply. Ask your VSP
doctor for details.
Paycheck CostsHere are your bi-weekly premiums for the Dental Plan and Vision Plan. (You pay one premium for dental and vision coverage.)
Dental/Vision Plan
Member $2.20
Member + spouse/domestic partner $11.00
Member + child(ren) $7.70
Family $16.50
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How These Accounts WorkHere’s how the FSAs work.
DECIDE HOW MUCH TO CONTRIBUTE.
Your contributions come out of your paycheck before taxes.
For the Health Care FSA, you can contribute up to $2,700 a year.
For the Dependent Care FSA, you can contribute up to $5,000 a year ($2,500 if you are married but file separate tax returns).
PAY FOR ELIGIBLE EXPENSES.
For the Health Care FSA: Use your PayFlex debit card, and the amount is automatically withdrawn from your account. If you participated in the Health Care FSA in 2019, you’ll keep using the same debit card. If you’re enrolling in the FSA for the first time or your card has expired, you’ll receive a card by mail in December 2019. You have access to the full amount you contribute for the year up front.
For the Dependent Care FSA: You can use your debit card, or you can pay the expense up front and then file a claim for reimbursement. You must have the money in your account before you can receive reimbursement.
Make sure you keep your receipts in case you need to verify your purchase.
USE IT OR LOSE IT!
You lose any FSA money you don’t use by December 31, 2020. You have until April 30, 2021, to request reimbursement and file claims for 2020 expenses. Any remaining amount will be forfeited.
For the Health Care FSA only, you have a grace period through March 15, 2021, to incur expenses and use remaining money from your 2020 account balance. Grace period claims must be filed by paper. Visit www.payflex.com or see your Benefits Administrator for the form.
Know the Rulesn The accounts are separate. You
can’t transfer money between the accounts, or use the Dependent Care FSA to pay for health care expenses or vice versa.
n The money in your FSA does not earn interest.
n You can’t take your FSA with you if you leave the Company.
FLEXIBLE SPENDING ACCOUNTSWoodward offers two Flexible Spending Accounts (FSAs), both administered by PayFlex, to help you save on taxes for health care and dependent care:
n Health Care FSA
n Dependent Care FSA
Health Care FSA Dependent Care FSA
Who can use it Anyone If you have dependent care expenses so you (and your spouse, if married) can work, look for work or attend school full time
How much you can add $100 to $2,700 a year $100 to $5,000 a year ($2,500 if you are married but file
separate tax returns)
Whose expenses are eligible Yours, your spouse’s and your eligible dependents’
n Your children under age 13 who qualify as dependents on your federal tax return
n Your spouse
n An unmarried child of any age who is physically or mentally incapable of self-support
n Other family members who are physically or mentally incapable of self-support, who live with you for more than half the year and who qualify as dependents on your federal tax return
What you can use it for
Eligible health care expenses such as:
n Copays, coinsurance and deductibles
n Dental expenses such as orthodontia, crowns and bridges
n Vision expenses such as LASIK eye surgery, glasses and contacts
n Prescription drugs and over-the-counter-items (only if you have a prescription from your doctor)
Eligible dependent care expenses such as:
n Licensed nursery schools
n Licensed day care centers for children and disabled dependents
n After-school care
n Services from a care provider (must be age 19 or older and not claimed as a dependent)
Double Tax Savings That Go Down Well!Your contributions are made on a pre-tax basis. And when you use the money to pay for eligible expenses, your withdrawals are tax-free.
FSAs AT A GLANCE
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You work hard to provide for yourself and your family. But sometimes life throws you a curveball. Something you didn’t see coming. At Woodward, we want you to be ready for the unexpected. That’s why we offer you 100% company-paid life, accidental death & dismemberment (AD&D) and disability coverage. Just in case you ever need it. Think of it as a built-in protection policy to help you weather the storms.
BUILT-IN PROTECTION
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LIFE AND AD&DTo protect your family, Woodward offers these benefits through the Standard Insurance Company:
n Basic Life
n Optional Life
n Basic AD&D
n Optional AD&D
Life InsuranceLife insurance pays a benefit if you or a covered family member dies. Woodward pays 100% of the cost for Basic Life Insurance for you. You pay the full cost of any Optional Life Insurance you purchase. You can purchase coverage for yourself, your spouse/domestic partner and your dependent children.
AD&D InsuranceAD&D pays a benefit if you die or suffer a serious injury due to an accident. Woodward pays 100% of the cost for Basic AD&D for you. You pay the full cost of any Optional AD&D coverage you purchase. You can purchase coverage for yourself only or yourself and your family. If you elect coverage for your family, your spouse/domestic partner and children will be covered as a percentage of your coverage amount. You can elect the 50% Family Plan, the 100% Family Plan or the Children Plan.
Your Paycheck CostsRemember, Woodward pays for your Basic Life and Basic AD&D coverage. Your costs for Optional Life and AD&D coverage vary based on your age and the amount of coverage you elect. You’ll see cost breakdowns during the online enrollment process.
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Benefit Amount
Basic Life Insurance (paid by Woodward) For you: 2x annual base salary
Optional Life Insurance (paid by you)1
For you: $10,000 to $750,000, in increments of $10,000
For your spouse/domestic partner:2 $10,000 to $200,000, in increments of $10,000
For your children (up to age 26):2 $5,000, $10,000 or $20,000 each
Basic AD&D Insurance (paid by Woodward) For you: 2x annual base salary
Optional AD&D Insurance (paid by you)1
For you: $25,000 to $200,000, in increments of $25,000
For your family: Your family is covered as a percentage of your coverage. You can elect the following options:
50% Family Plan
Spouse/domestic partner only: 50% of your coverage
Spouse/domestic partner and children: 50% of your coverage for spouse/domestic partner; 15% for each child, not to exceed $30,000
100% Family Plan
Spouse/domestic partner only: 100% of your coverage
Spouse/domestic partner and children: 100% of your coverage for spouse/domestic partner; 15% for each child, not to exceed $30,000
Children Plan
Children only: 15% for each child, not to exceed $30,000
1 Active at work provisions may apply. 2 Optional Life for your spouse/domestic partner or child(ren) may not exceed 100% of your combined Basic and Optional coverage amount.
Know the TermsAnnual base salary is the yearly salary or wage you receive for your work at Woodward. It does not include bonuses, commission or overtime pay.
A beneficiary is the person that you designate to receive your benefits. You must elect a beneficiary to receive your life and AD&D benefits. You can update your Beneficiary Information Form on Inside Woodward.
Evidence of insurability (EOI) is a statement of health that insurance companies may require before life insurance will be effective. You will need to provide EOI if:
n You elect Optional Life coverage during Open Enrollment for yourself or your spouse/domestic partner that exceeds your current coverage level, or
n You did not enroll when you were first eligible and later want to elect coverage, or you initially elected coverage of more than $200,000 for yourself or $20,000 for your spouse/domestic partner.
The deadline for submitting EOI forms (available at the beginning and end of your Open Enrollment session) is November 30, 2019. Submit the form directly to The Standard at the address listed on the form. If you don’t submit the form by the deadline, you’ll have to wait until the next Open Enrollment.
If you are required to provide EOI, your enrollment must be approved by the insurer before your coverage is effective. If you have questions about EOI, call The Standard at 1-800-843-7979.
LIFE AND AD&D BENEFITS AT A GLANCE
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DISABILITYYou have two types of disability coverage provided through The Standard:
n Short-Term Disability
n Long-Term Disability
Short-Term Disability (STD)STD replaces all or part of your pay if a non-work-related illness (including pregnancy) or injury prevents you from working for a short period of time. The first seven days of disability are considered a “waiting” period. Benefits begin on the eighth day of disability and will continue while you are disabled, up to 26 weeks.
Woodward provides STD at no cost to you.
Long-Term Disability (LTD)LTD replaces a portion of your pay if a non-work-related illness or injury prevents you from working for a long period of time. The plan replaces a portion of your earnings until you are no longer disabled or until you reach the maximum benefit period.
Woodward pays the full cost of LTD coverage for you.
How To Report a ClaimIf you expect to be out of work for a short period of time, you will need to contact:
n Your leader, prior to the start of your shift, AND
n The Standard at 1-877-889-1336
The Standard claim professional will verify your eligibility and start the claim process.
You may also be able to take a Family and Medical Leave (FMLA) if your disability qualifies. FMLA provides up to 12 weeks of unpaid, job-protected leave for certain situations, such as the birth of a child or if you have a serious medical condition. To file a request for an FMLA leave, contact The Standard.
STD1 LTD1
Benefits beginAccident: On your first day of disability
Illness: After 7 days (on 8th day of disability)After 180 days of approved disability
Plan pays2Weeks 2–13: 100% of pay
Weeks 14–26: 66 2/3% of pay (60% for California)66 2/3% of your monthly salary, up to $10,000 per month
Benefits continue Up to 26 weeks Generally, until you reach age 65 or are no longer disabled
1 Active at work provisions may apply.2 Disability benefits may be offset by other disability income you receive, such as Workers’ Compensation, Social Security or state or federal disability
benefits. Please see the Plan Document for details.
DISABILITY BENEFITS AT A GLANCEDisability benefits must be approved by Woodward’s leave administrator.
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When it comes to benefits, it’s not one-size-fits-all. You need benefits that are made for your life, your needs. With our voluntary benefits, you pick what works for you. From legal coverage to auto & home insurance to critical illness insurance, we’ve got you covered. So you can choose a benefits package that’s built to order.
BUILT TO ORDER
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VOLUNTARY BENEFITSYou can enroll in these voluntary benefits during Open Enrollment:
n Legal coverage
n Auto & home insurance
n Critical illness insurance
n Whole life insurance
Legal CoverageYou can purchase affordable legal coverage through MetLaw – Hyatt Legal Plans which gives you access to attorneys in person, by phone or email.
The plan covers:
n Family law matters, such as adoptions and prenuptial agreements
n Estate planning services, such as wills and powers of attorney
n Traffic and criminal matters, including traffic tickets and juvenile court defense
n Financial services, such as debt collection defense and identity theft defense
n Real estate issues, including boundary and title disputes
You pay $16.50 per month through convenient paycheck deductions. When you use a plan attorney for covered services, there are no deductibles, copays or claim forms.
Learn more at https://info.legalplans.com (enter access code 1500727) or call 1-800-821-6400. To enroll or make changes to existing coverage, complete the form on Inside Woodward and return to your Benefits Administrator. If you are currently enrolled and want to keep this benefit, there’s no need to complete a new form.
Auto & Home InsurancePurchase auto and home insurance through MetLife and you can receive hundreds of dollars in savings, along with special group discounts:
n Save up to an additional 10% right away with the welcome discount.
n Qualify for a group discount of up to 15% off your policy.
n Save more with the superior driver discount.
n Pay with convenient automatic deduction.
n Receive extra savings if you’ve been with your company a long time.
n Get multi-policy savings when you insure your home and auto.
Coverage is 100% portable, so even if you change jobs you can take your policy with you.
Get a free quote by calling 1-800-GET-MET8 (800-438-6388). To make the most accurate comparisons, please have your current policies when you call. Also mention you are a Woodward member and provide your discount code: 0GC.
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Critical Illness Insurance Critical illness insurance offers supplemental medical coverage that adds an extra layer of protection for you and your family. This coverage is offered through ManhattanLife.
Here’s how it works.
n You pay for premiums through automatic payroll deductions and can continue coverage even if you change employers. You pay with after-tax paycheck deductions, so any benefits paid to you are tax-free.
n You can purchase coverage for yourself, your spouse/domestic partner and/or dependent children. You can purchase up to $15,000 of coverage for yourself. Your spouse/domestic partner and child coverage amounts will depend on how much coverage you elect for yourself.
n If you are diagnosed with a covered illness, such as cancer, heart attack or stroke, you will receive a lump sum payment. The benefit is available immediately after diagnosis, so it’s there when you need it most.
n You can use your cash benefit to help pay bills related to treatment or to help with everyday living expenses, including mortgage payments, in-home caregivers and travel to treatment facilities away from home.
n You’ll receive a $100 wellness benefit each calendar year if you complete one of 18 covered tests, such as a mammogram, colonoscopy or stress test.
Whole Life InsuranceVoluntary whole life insurance offers financial peace of mind. You get lifelong coverage, premium costs that stay the same and a guaranteed return on the policy’s cash value.
This coverage helps ensure that your family is financially protected with money that can be used for:
n Funeral costs and other final expenses
n Immediate needs such as probate expenses
n Ongoing bills like utilities
n Debt liquidation, such as paying off loans or a mortgage
n Future expenses, such as education funds or retirement needs
Coverage amounts vary based on your needs. You can continue your coverage even if you change employers.
How To EnrollNEW ENROLLMENT
To enroll in critical illness insurance or whole life insurance, call 1-800-463-7420.
You can also enroll by visiting enrollonline.manhattanlife.com. You’ll need the following:
n Employee ID = Woodward Member ID Number with leading zeros to create a total of 9 digits.
Example: If your Woodward ID is 123, your ManhattanLife User Name = 000000123.
n PIN = The last 4 digits of the above Employee ID plus the last 2 digits of your birth year.
Example: If your birth year is 1968, your Humana PIN = 012368.
n Confirmation of personal information and Social Security number
n Personal information for your spouse/domestic partner or children who will be enrolled in these plans (i.e., Social Security number, date of birth, etc.)
MAKING CHANGES TO EXISTING COVERAGE
If you’re currently enrolled and want to make changes to your coverage, call 1-800-463-7420.
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EAP Woodward’s Employee Assistance Program (EAP), provided by LifeMatters, provides free, confidential support for everyday challenges and for more serious problems. It’s available around the clock anytime you need it. You can get help with a wide variety of issues, including:
OTHER BENEFITSWoodward offers these additional benefits to help you balance work/life challenges, recharge and save for your future:
n EAP
n Vacation
n Retirement Savings Plan
n Depression, anxiety and stress
n Marriage and relationships
n Parenting skills
n Managing work and family
n Money management and legal information
To contact the EAP, call 1-800-634-6433 or visit www.mylifematters.com (password WWG1).
VacationYou work hard, and you deserve time away to recharge. You earn vacation time with each paycheck. See the Benefits site on Inside Woodward for the updated 2020 vacation plan schedule.
VACATION BUY
You can purchase up to 40 hours of extra vacation days during Open Enrollment. Here’s how it works.
n The cost for these days will be deducted from your pay in equal installments throughout the calendar year.
n If you don’t use the purchased vacation time, it will be paid out at the end of the calendar year.
n The maximum limit for vacation time is 240 hours (including accrued, rollover and purchased vacation).
Here’s the order of how vacation time is used for the calendar year:
1. Carryover
2. Accrued vacation
3. Purchased days (unused purchased days paid out at year-end)
Woodward Retirement Savings PlanSaving for the future is important. That’s why Woodward offers the Retirement Savings Plan, administered by Vanguard. As a new hire, you’ll be automatically enrolled after 60 days of employment at a 6% pre-tax contribution rate unless you make a change or opt out.
Here are some plan features:
n You can contribute up to 50% of your pay, up to the 2020 IRS limit. If you’ll be age 50 or older in 2020, you can make an additional catch-up contribution.
n You can make pre-tax and/or Roth after-tax contributions.
n Woodward helps you save by making a matching contribution of 100% on the first 3% you contribute and 50% on the next 3% you contribute. Contribute at least 6% to receive the full 4.5% match!
n You’re immediately vested in (you own) all contributions and earnings.
n You can choose to invest your money in a wide variety of investment options, including Target Date Funds. Target Date Funds offer a quick, easy and diversified way to invest. You pick the fund closest to the year you’ll retire, and the Target Date Fund does the rest of the investment decision-making for you.
n In addition to the benefits described above, Woodward makes an annual contribution equal to 5% of your eligible wages denominated in company stock. To be eligible to receive this contribution you must complete two 12-consecutive-month periods of employment in which you work at least 1,000 hours. Contributions are based on eligible wages paid in the previous calendar year.
For more details, visit www.vanguard.com (plan number 092230) or call 1-800-523-1188.
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Benefit Contact Info
Benefit Questions
ColoradoLaurie [email protected]
Loves Park/Rock Cut/Machesney Park, ILKara [email protected]
Medical
Anthem 1-844-445-5393www.anthem.com/woodward
Woodward Health CenterRockford 1-779-696-0020
Colorado 1-970-495-6233
Tobacco Cessation Program
Healthy Lifestyles 1-877-252-8410
Prescription Drugs
CVS Caremark 1-844-345-3240www.caremark.com
Dental
Anthem 1-855-769-1467www.anthem.com/woodward
Vision
VSP 1-800-877-7195www.vsp.com
Flexible Spending Accounts (FSAs)
PayFlex 1-844-729-3539www.payflex.com
Life and AD&D Insurance
The Standard 1-800-843-7979
Disability
The Standard 1-877-889-1336
Employee Assistance Plan
LifeMatters 1-800-634-6433www.mylifematters.com (password WWG1)
Retirement Savings Plan
Vanguard 1-800-523-1188www.vanguard.com (plan number 092230)
Critical Illness Insurance and Whole Life Insurance
ManhattanLife Workplace Voluntary Benefits 1-855-448-6982www.ManhattanLife.com
Legal Insurance
Hyatt Legal Plans 1-800-821-6400https://info.legalplans.com (password: 1500727)
Auto & Home Insurance
MetLife 1-800-438-6388www.metlife.com
CONTACTS
This guide is designed as a reference to help eligible members enroll for benefits and answer many of the questions you might have about benefits during the year. The legal documents and insurance contracts governing these plans will determine your benefits in the event of any omissions or discrepancies. Your participation in these plans is not a contract of employment and does not guarantee your future employment.
October 2019 Rockford/Colorado