In a Nutshell
We offer flexible spending accounts, a retirement plan, and life insurance with disability coverage, so you can feel some peace of mind when it comes to your financial health strategy.
Health Reimbursement Arrangement (HRA)
We offer a company sponsored Health Reimbursement Arrangement (HRA) when you enroll in any Core Medical Plan. An HRA is a tax-advantaged account funded by your employer to help cover your health care costs. The money contributed to an HRA is not taxed, and you can access these funds to pay for any qualified medical expense for you or your dependents on your plan.
The company will fund $375 for an individual or $750 for a family to use within the year. You can submit eligible items for reimbursement on the Forma website or app.
Health Reimbursement Arrangement (HRA) dollars can be used for your out-of-pocket medical, dental and vision expenses, including:
Copays
Coinsurance
Deductibles
Behavioral health services
Prescription costs
Orthodontia and dental
Healthcare FSA eligible items (see below).
More information on eligible HRA items can be found here.
Only your employer can contribute to health reimbursement arrangements (HRA); whereas a Flexible Spending Account (FSA) is funded by employee contributions. You can have an HRA and an FSA simultaneously but your HRA funds will be used first. If you leave the company or have unused HRA funds at the end of the plan year, your unused funds will be forfeited - there is no rollover.
*As a reminder, the IRS does not allow for reimbursement of expenses already covered by your health plan. This includes reimbursement of the OTC COVID tests covered by your health plan.
Flexible Spending Accounts
What We Offer
We offer two types of flexible spending accounts (FSAs) to help you manage your care costs:
Healthcare FSA for your out-of-pocket medical expenses, including:
Copays
Coinsurance
Deductibles
Childbirth or Lamaze classes
Fertility treatments
Behavioral health services
Dependent Care FSA for your out-of-pocket day care or dependent care expenses, including:
Before and after school care
Day care
Preschool
Day camps
Child care (ex. nanny, babysitter)
For both the Healthcare FSA and Dependent Care FSA, you decide your annual contribution, and that amount is incrementally withdrawn from your paycheck on a pre-tax basis. Once you’re enrolled, you will receive a benefits card from our partner, Forma, which works just like a debit card that can be used to pay for eligible healthcare or dependent care expenses.
*As a reminder, the IRS does not allow for reimbursement of expenses already covered by your health plan. This includes reimbursement of the OTC COVID tests covered by your health plan.
How To Enroll
Flock is our online benefits enrollment system. Once you begin work at Collective Health, you will be able to log in to Flock via Okta to confirm your demographic information and submit your benefit elections.
Maven and Maven Wallet
All employees and your spouse/domestic partner enrolled in a Blue Shield medical plan have access to the full suite of Maven Family Forming resources. Learn more here!
In addition to the Family Forming resources available through Maven, all employees have access to a $5,000 lifetime Maven Wallet to help pay for eligible family forming expenses.
Commuter Pre-Tax
If you would like to make pre-tax contributions towards eligible commuter expenses, please log in to Forma to set up an employee contribution. The deadline to make changes is the 15th of the month for the following month (i.e. to make changes to your February contribution, update by January 15th).
401(k) Retirement Plan
What We Offer
Collective Health sponsors a traditional 401(k), and a ROTH 401(k) retirement plan, both managed by Fidelity. With a 401(k), you decide how much money you'd like to contribute each pay period, and we send the money to Fidelity to deposit in your retirement account. In a traditional 401(k), the money is deposited before taxes, and you don’t pay taxes until the money is withdrawn. In a ROTH 401(k), the money is deposited after taxes, so you don’t pay taxes when the money is withdrawn.
How It Works
Your investment happens through an automatic payroll deduction. You decide what percentage of your salary you'd like to contribute, and that amount comes out of your paycheck and goes into your 401(k).
How To Enroll
You will be able to sign up two business days after the date of your first paycheck. If you don’t enroll at the start of your employment, you can enroll in the plan the first day of each month. If you already have an existing Fidelity account from a prior employer, your Collective Health account will show up under your previous log-in credentials. If you have never created an account with Fidelity, you can sign-up with your name, birth date, and SSN at www.401k.com.
Rollovers
If you’d like to roll an existing account balance into your Collective Health 401(k), just follow the instructions on the rollover form below. You’ll also need to get a signature from our Plan Administrator. Please email 401kadmin@collectivehealth.com
More Info:
Fast Facts - this document provides fast facts about our retirement plan such as how to enroll, FAQs on key features and benefits of the 401(k) Plan, and investment options
Rollover contribution - this document provides a summary of incoming rollover instructions. Please note that this process should be initiated and completed online in the fidelity portal directly
Plan Information and Fund Prospectuses - this information is available in the Fidelity Net Benefits portal under the heading "plan information"
Monthly Plan Performance - plan performance as of 9/30/18
Life, Disability & Voluntary Insurance Coverage
What We Offer
To provide you and your family with additional financial security to protect against life's uncertainties, we offer Life Insurance and Disability coverage. We also offer voluntary insurance options for you to choose from that fits you and your family’s needs and lifestyle.
Disability Insurance
When you’re unable to work for a short or long period of time due to a disability, Disability Insurance protects your income with partial wage replacements.
Short-Term
If you’re temporarily unable to work due to pregnancy and/or childbirth, illness, or injury, Short-Term Disability partially replaces your salary, in conjunction with CA state disability benefits (assuming you live and work in CA). The maximum payment period is based on the first day you are disabled, not when benefits begin.
Short-Term Disability Insurance covers 60% of your weekly earnings up $3,250.
Long-Term
If you’re unable to work for a long period of time, Long-Term Disability provides you with a portion of your income during the disability period. Additionally, you might qualify for Long-Term Disability benefits after your Short-Term Disability benefits end. Keep in mind, your benefits are reduced by income from other benefits you might receive while disabled, like workers' compensation and Social Security.
Long-Term Disability Insurance covers 60% of your monthly earnings up to $14,000.
Legal Service Plan
We partner with ARAG to offer a Voluntary Legal Service Plan that includes financial protection from potential costs associated with legal actions initiated by or against the insured.
Work with a network attorney and attorney fees are 100% paid-in-full for most covered matters.
Access a network of local, professional attorneys
Use DIY Docs ®, an online tool that helps you create a variety of legally valid documents, including state-specific templates.
ID Theft Protection Plan
We partner with Norton LifeLock to offer protection from identity theft and fraudulent activity and includes restoration services in the event of theft
Identity lock
Social media monitoring
Home title monitoring
LifeLock identity alert system
Million dollar protection package
Life Insurance
Life Insurance provides financial support to your spouse, partner and/or family in the event of your death. In that event, your beneficiary will receive a lump-sum payment to help manage short- and long-term expenses.
Our Life Insurance policy also includes Accidental Death and Dismemberment (AD&D) coverage for added financial security. This coverage provides a portion of your income to your beneficiary in the event of an on-the-job accident.
Your coverage is equal to 200% of your annual salary.* (i.e. if you make $80k per year, your policy value—or the amount your spouse, partner and/or family would receive—is $160k, paid in a lump sum.)
*Maximum coverage of $400k, minimum coverage of $10k
Voluntary Life Insurance
If you’d like to increase your coverage, you can add additional post-tax voluntary life insurance for yourself (up to $750,000), your spouse (up to $300,000) and/or your children (flat $10,000).
Guarantee issues amounts are as follows:
Up to $200,000 for employees under age 65
$50,000 for employees ages 65-69
$10,000 for employees ages 70+
$50,000 for spouses under age 65
$10,000 for spouses age 65-69
$10,000 for children.
If you elect over the guarantee issue, the benefit is subject to an Evidence of Insurability (EOI) form. Guardian will reach out to you to complete this.
Accident Insurance*
Accident insurance is an extra layer of protection that pays you cash when you suffer an unexpected, qualifying accident. It provides you money to cover any extra, out-of-pocket expenses associated with your injury.
Accident Insurance Plan Details
*Accident Insurance plans include the Wellness Benefit that each member can receive $50 benefit payment per year by doing routine health screenings. Claims for the benefit payment can be submitted directly via your Guardian account, or call the customer service number: (800)-541-7846.
Hospital Indemnity Insurance
When hospitalization occurs due to sickness or injury, medical insurance may cover hospital bills but there are other costs associated with a hospital stay such as deductibles, co-pays, transportation, lodging etc. For costs incurred due to a hospital stay, Hospital Indemnity insurance provides a lump sum of cash to cover these additional expenses.
IMPORTANT: Collective Health offers a fixed indemnity policy; this is NOT health insurance. If you are considering purchasing this policy, please read the notice in your (Legal Notices) in its entirety.
Pet Insurance
Through Pet’s Best, provide coverage for your cat or dog! No network required.
How To Enroll:
Online through designated CH link: Pets Best Website
By Phone: 888-984-8700 with CH discount code: CHPETS