BHT Investment - 2022 Employee Benefit Guide

BHT Investment Co.
2022 BENEFITS
ENROLLMENT GUIDE
BHT Investment Company, Inc.
Effective 1/1/2022 to 12/31/2022

CONTENTS
4 Benefits Overview
7 Medical Insurance
10 Dental Insurance
12 Vision Insurance
14 Life Insurance
17 Disability Insurance
19 Additional Voluntary Benefits
20 Voluntary Accident Insurance
21 Voluntary Cancer Insurance
22 Voluntary Hospital Indemnity Insurance
23 Open Enrollment Information
25 Important Contacts
26 Glossary

BENEFITS
OVERVIEW
4

BENEFITS OVERVIEW
ENROLLMENT
You can enroll in benefits or change your elections at the following times:
• 30 days prior to your initial eligibility date (as a newly hired employee)
• During the annual benefits open enrollment period
• Within 30 days of experiencing a qualifying life event
OPTIONS
We offer a comprehensive benefits package consisting of:
• Medical Insurance
• Dental Insurance
• Vision Insurance
• Basic Life and AD&D Insurance
• Voluntary Life Insurance
• Short Term Disability Insurance
• Voluntary Accident Insurance
• Voluntary Cancer Insurance
• Voluntary Hospital Indemnity Insurance
5

BENEFITS OVERVIEW
ELIGIBILITY
Full-time employees working at least 30 hours per week are eligible for
benefits on the first of the month following or coinciding with 60 days of
employment. Many of the plans offer coverage for eligible dependents,
including:
• Your legal spouse
• Your children to age 26, regardless of student, marital, or
tax-dependent status (including stepchild, legally adopted child, a child
placed with you for adoption, or a child for whom you are the legal
guardian)
• Your dependent children over age 26 who are physically or mentally
unable to care for themselves
CHANGING BENEFITS AFTER OPEN ENROLLMENT
You may pay your portion of the medical, dental, and vision plan costs on
a pre-tax basis. Thus, due to IRS regulations, once you have made your
elections for the plan year, you cannot change your benefits until the next
annual open enrollment period. The only exception is if you experience a
qualifying event, and election changes must be consistent with your life
event.
To request a benefits change, notify Human Resources within 30 days of
the qualifying life event. Change requests submitted after 30 days cannot
be accepted. You may need to provide proof of the life event.
Qualifying life events include, but are not limited to:
• Marriage, divorce, or legal separation
• Birth or adoption of an eligible child
• Death of your spouse or covered child
• Change in your spouse’s work status that affects his or her benefits
• Change in your child’s eligibility for benefits
• Qualified Medical Child Support Order
6

MEDICAL
INSURANCE
7

MEDICAL INSURANCE
CARRIER: QualChoice
Plan Options: High-Deductible Health Plan (HDHP) (Option 1) or two PPO Plans
(Options 2 or 3).
Please refer to the official plan documents for additional information on coverage and exclusions.
COVERED BENEFITS
Option 1
HDHP Plan
Option 2
PPO Buy-Up Plan
Option 3
PPO Buy-Up Plan
In-Network Out-of-Network In-Network Out-of-Network In-Network Out-of-Network
Year Deductible
Individual $5,700 $3,000 $6,000 $1,000 $2,000
Family $11,400 $6,000 $12,000 $2,000 $4,000
Out of Pocket Maximum Included Deductible, Copays & Coins. Included Deductible, Copays & Coins. Included Deductible, Copays & Coins.
Individual $5,700 $10,700 $5,500 $9,000 $2,000 $7,000
Family $11,400 $21,400 $11,000 $18,000 $4,000 $14,000
Coinsurance (Plan Pays) 100% after Ded. 50% after Ded. 80% after Ded. 60% after Ded. 80% after Ded. 60% after Ded.
Preventive Care Plan pays 100% N/A Plan pays 100% N/A Plan pays 100% N/A
Physician Services
Primary Care 0% after Ded. 50% after Ded. $30 Copay 40% after Ded. $20 Copay 40% after Ded.
Specialist 0% after Ded. 50% after Ded. $50 Copay 40% after Ded. $35 Copay 40% after Ded.
Urgent Care 0% after Ded. 50% after Ded. $50 Copay 40% after Ded. $35 Copay 40% after Ded.
Emergency Services
Emergency Room 0% after Ded. 0% after Ded. $250 Copay $250 Copay 20% after Ded. 20% after Ded.
Ambulance 0% after Ded. 0% after Ded. 20% after Ded. 20% after Ded. 20% after Ded. 20% after Ded.
Hospital Services
Inpatient 0% after Ded. 50% after Ded. 20% after Ded. 40% after Ded. 20% after Ded. 40% after Ded.
Outpatient 0% after Ded. 50% after Ded. 20% after Ded. 40% after Ded. 20% after Ded. 40% after Ded.
Prescription Drugs
Tier 1 0% after Ded. Not Covered $15 Copay Not Covered $10 Copay Not Covered
Tier 2 $35 Copay $30 Copay
Tier 3 $50 Copay $50 Copay
Tier 4 $100 Copay $100 Copay
8

WHICH MEDICAL INSURANCE PLAN IS
RIGHT FOR YOU?
Choosing the right medical plan is an important decision. Take
the time to learn about your options to ensure you select the
right plan for you and your family.
THINGS TO CONSIDER
1. Do you prefer to pay more for medical insurance out of your
paycheck, but less when you need care?
2. Or, do you prefer to pay less out of your paycheck, but more
when you need care?
3. What planned medical services do you expect to need in the
upcoming year?
4. Do you or any of your covered family members take
prescription medications on a regular basis?
MEDICAL RATES
Option 1
HDHP Plan
Option 2
PPO Buy-Up Plan
Option 3
PPO Buy-Up Plan
COVERAGE
LEVEL
Monthly
Employer
Pays
Employee
Monthly
Employee
Weekly
Monthly
Employer
Pays
Employee
Monthly
Employee
Weekly
Monthly
Employer
Pays
Employee
Monthly
Employee
Weekly
Employee Only $400.68 $246.26 $154.42 $35.64 $669.08 $291.89 $377.19 $87.04 $839.86 $346.77 $493.09 $113.79
EE & Spouse $801.35 $333.51 $467.84 $107.96 $1,338.14 $416.85 $921.29 $212.61 $1,679.70 $534.52 $1,145.18 $264.27
EE & Child(ren) $641.07 $298.61 $342.46 $79.03 $1,070.50 $366.86 $703.64 $162.38 $1,343.75 $459.42 $884.33 $204.08
EE & Family $1,081.80 $394.57 $687.23 $158.59 $1,806.46 $504.31 $1,302.15 $300.50 $2,267.55 $665.91 $1,601.64 $369.61
COMPARING YOUR MEDICAL PLAN OPTIONS
PPO
• Higher cost per paycheck
• Lower deductible
HDHP
• Lower cost per paycheck
• Higher deductible
• Can fund a health savings account (HSA)
9

DENTAL
INSURANCE
10

DENTAL INSURANCE
CARRIER: Delta Dental
● You will pay less out of pocket when you choose an in-network provider.
● Locate an in-network provider at www.deltadentalar.com.
● Be sure to ask for a pre-treatment estimate.
● Out-of-network providers can balance bill, or bill you for the difference
between the provider’s charge and the allowed amount.
DENTAL
ELECTION
MONTHLY
PREMIUM
WEEKLY
PREMIUM
Employee Only $27.16 $6.27
EE & Spouse $54.26 $12.52
EE & Child(ren) $67.96 $15.68
EE & Family $100.88 $23.28
COVERED BENEFITS IN-NETWORK OUT-OF-NETWORK
Deductible (per calendar year) $50 per person, $150 per family $50 per person, $150 per family
Annual Plan Benefit Maximum $1,000 per covered member $1,000 per covered member
Preventive Care
Exams, cleanings, fluoride, x-rays, sealants
Basic Services
Simple extractions, space maintainers, oral surgery, fillings
Major Services
Crowns, inlays, onlays, veneers, bridges, dentures, implants
100% 90%
80% 72%
50% 45%
Orthodontia Services (to age 19) 50% 45%
Lifetime Orthodontia Plan Max $1,000 $1,000
Annual Maximum Carryover* $250 max $1,000 max
*Carryover Eligibility: Must received at least one covered dental service and claims not to exceed $499 per year.
11

VISION
INSURANCE
12

VISION INSURANCE
CARRIER: VSP
● You will pay less out of pocket when you choose an in-network provider.
● Locate an in-network provider at www.vsp.com.
● You must submit a claim form for out-of-network expenses.
● LASIK surgery discounts available
VISION
ELECTION
MONTHLY
PREMIUM
WEEKLY
PREMIUM
Employee Only $9.14 $2.11
EE & Spouse $14.61 $3.37
EE & Child(ren) $14.92 $3.44
EE & Family $24.04 $5.55
COVERED BENEFITS IN-NETWORK OUT-OF-NETWORK
Eye Exam (every 12 months) $10 copay $45 allowance
Frames (every 24 months) $130 allowance $40 allowance
Standard Plastic Lenses (every 12 months)
Single Vision
Bifocal
Trifocal
Standard Progressive
Premium Progressive
Custom Progressive
Contact Lenses (every 12 months)
Elective
Fitting & Evaluation
$20 copay
$20 copay
$20 copay
$55 allowance
$95 - $105 allowance
$150 - $175 allowance
$130 allowance
Up to $60 copay
$30 allowance
$50 allowance
$65 allowance
$50 allowance
$50 allowance
$50 allowance
$120 allowance
13

GROUP LIFE &
VOLUNTARY LIFE
14

GROUP LIFE INSURANCE
CARRIER: QualChoice
LIFE and ACCIDENTAL DEATH & DISMEMBERMENT (AD&D)
Basic Life and AD&D insurance are automatically provided to all benefitseligible
employees at no cost if you enroll in any medical insurance plan. This
also includes an AD&D Rider which will pay double in the event of your death. If
you die as a result of an accident, your beneficiary would receive both the life
and the AD&D benefits.
● Benefit Amount: $15,000
VOLUNTARY LIFE INSURANCE
CARRIER: Lincoln Financial
WHAT IS VOLUNTARY LIFE
INSURANCE? Voluntary Life Insurance is
offered through an employer but is paid by
employees.
WHY PURCHASE VOLUNTARY LIFE INSURANCE?
● This type of Life Insurance has limited underwriting required. This allows for people with
health conditions or lifestyles that might otherwise disqualify them to qualify for Life
Insurance.
● The group rates are lower than what you could purchase on your own.
● You may purchase a policy for your spouse and children.
● You may purchase a policy for your spouse and children IF you elect coverage for yourself.
REMINDER
Review your beneficiary designations
15

VOLUNTARY LIFE INSURANCE
CARRIER: Lincoln Financial
Employee Benefit
● Benefit Amount: $10,000 increments up to $500,000 not to exceed 5x your annual base salary
● Employees age 70+ Maximum Benefit: $50,000
● Guarantee Issue: $150,000 (only available during New Hire eligibility)
● AD&D Benefit: Equal to Life amount elected
● Benefit Reduction Schedule: 35% at age 65
○ Additional 25% of original amount at age 70
○ Additional 15% of original amount at age 75
○ Additional 15% of original amount at age 80
● Benefit Termination: Benefits terminate at retirement
Spouse Benefit
● Benefit Amount: $5,000 increments up to $250,000, not to exceed Employee amount
● Guarantee Issue: $30,000 (only available during New Hire eligibility)
● AD&D Benefit: Equal to Spousal Life amount elected
● Benefit Reduction Schedule: 35% at Employee age 65
● Benefit Termination: Benefits terminate at Employee age 70 or retirement, whichever occurs first.
Child(ren) Benefit
● Child 14 days to 6 months old: $250
● Child 6 months to age 19 years (25 if a full-time student): $10,000
OPEN ENROLLMENT
If you are currently enrolled and your benefit is under Guarantee Issue, the employee can increase
your benefit by $10,000 or $20,000 without medical questions will be required.
If you waived coverage during your New Hire eligibility period and want to elect coverage now,
medical questions will be required and subject to approval.
REMINDER
Review your beneficiary designations
16

DISABILITY
INSURANCE
17

DISABILITY INSURANCE
CARRIER: Lincoln Financial
SHORT-TERM DISABILITY INSURANCE
Short-Term Disability (STD) Insurance is designed to help you meet your financial
needs if you become unable to work due to a non-work related illness or injury.
This is a voluntary plan; employees are responsible for 100% of the cost.
Premiums are calculated as a percentage of you annual base salary.
●
●
●
●
Benefit: 60% of base weekly salary up to $1,500 per week
Elimination Period: 1 st day Accident / 8 th day Illness
Benefit Durations: Up to 13 weeks
Pre-Existing Conditions Limitation: 3/6 – You may not be eligible for
benefits if you have received treatment for a condition within 3 months prior
to your effective date under this policy until you have been covered by the
policy for 6 months.
Attained Age Premium Factor
0-29 0.01412
30-34 0.01315
35-39 0.01205
40-44 0.01108
45-49 0.01135
50-54 0.01260
55-59 0.01482
60-64 0.01758
65-69 0.01994
70+ 0.02395
Premium calculated
in MyPay during
enrollment
REMINDER
Review your beneficiary designations
18

ADDITIONAL
VOLUNTARY
BENEFITS
19

VOLUNTARY ACCIDENT INSURANCE
CARRIER: Aflac
Accident Insurance supplements your existing
medical insurance in case you are have an
accident; medical insurance alone may not be
enough to cover your expenses. The plan pays
a cash benefit during the term of your
coverage following a covered accident and
could help cover:
● Out-of-pocket expenses such as copays and
deductibles
● Transportation
● Lodging costs
● Emergency room expenses
Plan Features
● 24 hour coverage
● Coverage is guaranteed-issue, provided the applicant is eligible for coverage.
● The plan features benefits for both inpatient and outpatient treatment of covered accidents.
● Benefits are payable regardless of any other insurance programs.
● Benefits are available for spouse and/or dependent children.
● There's no limit on the number of claims an insured can file.
ELECTION Monthly Weekly
Employee Only $20.43 $4.71
EE + Spouse $30.62 $7.07
EE + Child(ren) $35.46 $8.18
EE +Family $45.65 $10.53
See Benefit Summary for complete benefit listing and coverage amounts.
20

VOLUNTARY CANCER INSURANCE
CARRIER: AllState
Cancer Insurance supplements your existing
medical insurance in case you are diagnosed with
cancer; medical insurance alone may not be
enough to cover your expenses. The plan pays a
cash benefit during the term of your coverage
following a positive diagnosis of an internal cancer.
WHY PURCHASE CANCER
INSURANCE? You and your loved ones can
rest a little easier knowing you have protection in
place to help avoid depleting your bank accounts
or taking on additional debt to cover day-to-day
living expenses.
●
●
●
●
Help cover medical plan deductibles, co-pays and other out-of-pocket costs
Help cover everyday living expenses such as groceries, rent and mortgage payments
Hire extra help for around the house, such as in-home caregivers
Pay for travel to treatment facilities away from home as well as family visits
BENEFITS
● Continuous Hospital Confinement (daily): $400
● Government or Charity Hospital (daily): $400
● Radiation/Chemotherapy for Cancer (every 12 months): $15,000
● Blood, Plasma, and Platelets (every 12 months): $15,000
● Surgery (maximum, depending on surgery): $3,000
● Anesthesia (% of surgery benefit): 25%
●
Cancer Initial Diagnosis:
○ 1 time benefit of $5,000 when a covered person is diagnosed for the 1st time in their life as
having cancer other than skin cancer.
○ 1st diagnosis must occur after the effective date of coverage.
● Pre-Existing Condition: 12 / 12
ELECTION Monthly Weekly
Employee Only $35.41 $8.18
EE + Spouse $55.13 $12.73
EE + Child(ren) $50.21 $11.59
EE +Family $69.91 $16.14
See Benefit Summary for complete benefit listing and coverage amounts.
21

VOLUNTARY HOSPITAL INDEMNITY
INSURANCE
CARRIER: Aflac
Hospital Indemnity Insurance helps protect your
finances if an unexpected hospital stay occurs and
those expenses are not covered by your health plan.
This benefit would pay in addition to any other
coverage(s) you may already have. Benefits are
payable for hospital stay due to:
●
●
●
●
●
Sickness
Mental and nervous disorders
Substance abuse
Accidents*
Routine pregnancy**
PLAN FEATURES
●
●
●
●
●
●
●
●
●
Benefits are paid directly to the insured, unless otherwise assigned.
Benefits are paid for covered sickness and accidents.
Coverage is available for all family members.
Guaranteed-Issue coverage during New Hire Eligibility
Applicable to only In-Patient Admissions, not included ER Treatment or Outpatient Treatment
There are no pre-existing condition limitations.
The plan doesn't have a waiting period for benefits.
Benefits do not reduce as insured gets older.
Annual Health Screening Benefit is included.
ELECTION Monthly Weekly
Employee Only $16.72 $3.86
EE + Spouse $29.26 $6.75
EE + Child(ren) $24.38 $5.63
EE +Family $36.92 $8.52
See Benefit Summary for complete benefit listing and coverage amounts.
22

OPEN
ENROLLMENT
INSTRUCTIONS
23

OPEN ENROLLMENT INSTRUCTIONS
During the Employee Benefits Enrollment process, a representative will cover the extensive benefits
package that BHT Investment Company, Inc. offers eligible employees, including
Medical/Dental/Vision insurance, Life Insurance, Short-Term Disability, Voluntary Life, Accident,
Cancer and Hospital Indemnity Insurance.
STEP 1: Go to the following link
to create an account as an
employee:
https://hralliance.net/ee
STEP 2: You will be asked for
personal identifying data.
STEP 3: Write down the
username and password you
created for future reference.
STEP 4: You are ready to make your benefit elections! Please select the ‘Start Benefits” button.
The system will guide you through the process when you select ‘Save & Continue’ on every screen.
Note: IF you are covering a spouse and /or child, please have their full name, DOB, and SSN available.
STEP 5: Click the “Agree” button to complete your enrollment.
For a quick overview, visit: https://meeting.videobenefitsguy.com/bhtinvest2022
REMEMBER: Open Enrollment must be completed by the deadline or
you may not be able to enroll yourself and/or your eligible dependents until our
next open enrollment, or a qualifying event occurs.
This summary of benefits is not intended to be a complete description of the terms of BHT Investment Company, Inc.’s insurance benefit plans. Please
refer to the plan document(s) for a complete description. Each plan is governed in all respects by the terms of its legal plan document, rather than by
this or any other summary of the insurance benefits provided by the plan. In the event of any conflict between a summary of the plan and the official
document, the official document will prevail. Although BHT Investment Company, Inc. maintains its benefit plans on an ongoing basis, BHT Investment
Company, Inc. reserves the right to terminate or amend each plan, in its entirety or in any part at any time.
24

IMPORTANT CONTACTS
BENEFIT CARRIER PHONE WEBSITE
Medical Insurance QualChoice 800-235-7111 www.qualchoice.com
Dental Insurance Delta Dental 800-462-5410 www.deltadental.com
Vision Insurance VSP 800-877-7195 www.vsp.com
Life and AD&D
Insurance
Voluntary Life and
AD&D Insurance
Short Term Disability
Insurance
Accident &
Hospital Indemnity
Insurance
QualChoice 800-235-7111 www.qualchoice.com
Lincoln Financial 800-423-2765 www.lincolnfinancial.com
Lincoln Financial 800-423-2765 www.lincolnfinancial.com
Aflac 800-992-3522 www.Aflac.com
Cancer Insurance Allstate Benefits 800-521-3535 www.allstateatwork.com
Employer Contact Cindy Allison 501-268-6107 callison@doublebees.com
Employer Contact Blake Hummer 501-279-7663 bhummer@doublebees.com
YOUR BXS INSURANCE ACCOUNT REPRESENTATIVE:
Ashley Bray
870-974-7424
Ashley.Bray@bxsi.com
25

GLOSSARY
26

GLOSSARY
Coinsurance: Your share of the cost of a covered health care service, calculated as a percent (for
example, 20%) of the allowed amount for the service, typically after you meet your deductible. For
instance, if your plan’s allowed amount for an office visit is $100 and you’ve met your deductible (but
haven’t yet met your out-of-pocket maximum), your coinsurance payment of 20% would be $20. Your
plan sponsor or employer would pay the rest of the allowed amount.
Copay: The fixed amount, as determined by your insurance plan, you pay for health care services
received.
Deductible: The amount you owe for medical services before your medical insurance or plan sponsor
(employer) begins to pay its portion. For example, if your deductible is $3,000, your plan does not pay
anything until you’ve met your $3,000 deductible for covered health care services. This deductible may
not apply to all services, including preventive care. Preventive care is 100% covered by the plan.
Employee Contribution: The weekly amount you pay for your insurance coverage.
Explanation of Benefits (EOB) / Personal Health Statement (PHS): A statement sent by your insurance
carrier that explains which procedures and services were provided, how much they cost, what portion
of the claim was paid by the plan, and what portion is your liability, in addition to how you can appeal
the insurer’s decision. These statements are also posted on the carrier’s website for your review. Health
Care Cost Transparency: Also known as Market Transparency or Medical Transparency. Health care
provider costs can vary widely, even within the same geographic area. To make it easier for you to get
the most cost-effective health care products and services, online cost transparency tools, which are
typically available through health insurance carriers, allow you to search an extensive national database
to compare costs for everything from prescription drugs and office visits to MRIs and major surgeries.
Health Savings Account (HSA): A personal health care bank account funded by your or your employer’s
tax-free dollars to pay for qualified Medical expenses. You must be enrolled in a HDHP to open an HSA.
Funds contributed to an HSA roll over from year to year and the account is portable, meaning if you
change jobs, your account goes with you.
High Deductible Health Plan (HDHP): Plan option that provides choice, flexibility and control when it
comes to spending money on health care. Preventive care is covered at 100% with in-network
providers, there are no copays, and all qualified employee-paid Medical expenses count toward your
deductible and your out-of-pocket maximum.
In-Network: In-network providers are doctors, hospitals and other providers that contract with your
insurance company to provide health care services at discounted rates.
Out-of-Network: Out-of-network providers are doctors, hospitals and other providers that are not
contracted with your insurance company. If you choose an out-of-network doctor, services will not be
provided at a discounted rate and your cost sharing (deductibles and coinsurance) will increase.
Out-of-Pocket Maximum: The maximum amount of money you will pay for medical services during the
plan year. The out-of-pocket maximum is the sum of your deductible and coinsurance payments.
27

BHT INVESTMENT COMPANY, INC.
28