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Open Enrollment is a designated time during which Associates may update or select benefits that best meet their needs for the coming year.
Open Enrollment for the 2024 plan year begins November 3th and ends on Friday, November 17th.
The 2024 Open Enrollment is passive. If you do not login to Paylocity and complete the Open Enrollment process, your current benefits will automatically rollover to 2024, except for any of the Flexible Spending Accounts (FSA). No action is required if you do not want to make any changes to your benefits and you do not want to participate in an FSA.
If you wish to change plans, add or remove coverage, or add or remove dependents, you must complete the Open Enrollment process.
Participation in a Flexible Spending Account (FSA) requires active enrollment. If you are enrolled in an FSA in 2023 and wish to participate in 2024, you will need to re-enroll during Open Enrollment.
If you want to change any of the benefits you selected as part of your new hire process or if you want to enroll in the Flexible Spending or Dependent Care FSAs, you need to re-enroll for 2024.
The benefits you are enrolled in for 2023 will remain the same for 2024.
Your FSA contributions will be set to $0 for 2024.
Once Open Enrollment closes, you cannot make changes to your benefit elections unless you experience a qualifying life event during the year. Common examples of qualifying life events include:
Should any of these life events occur, you have 31 days from the date of the event to make changes to your coverage.
New Associates: Newly hired full-time Associates are eligible for benefits the first day of the month following their date of hire. Associates must enroll within 31 days of their hire date for coverage during that plan year.
Open Enrollment: Open Enrollment is a designated time each year during which Associates may update or select benefits that best meet their needs for the coming year. Open Enrollment occurs in the fall of each calendar year with benefit elections effective January 1 of the following plan year.
Qualifying Life Events: If you experience a Qualifying Life Event, you may make changes to certain benefits within 31 days of the event.
For current Associates, Open Enrollment for the 2024 plan year is November 3 – November 17, 2023.
New Associates have 31 days from the date of hire to complete their benefits enrollment.
Normally, Associates can only change their benefits selections during the Open Enrollment period.
However, an IRS Qualifying Life Event (QLE) permits you to make changes to certain benefits during the plan year, within 31 days of the event.
Common QLEs include, but are not limited to:
The Payroll & Benefits team can help determine if other events qualify. If you experience a QLE, you may make changes to some of your benefits within 31 days of the event. Any changes you make must be consistent with your qualifying event, must be permitted by plan rules, and must be requested within 31 days of the event.
Common QLEs include, but are not limited to:
The Payroll & Benefits team can help determine if other events qualify. If you experience a QLE, you may make changes to some of your benefits within 31 days of the event. Any changes you make must be consistent with your qualifying event, must be permitted by plan rules, and must be requested within 31 days of the event.
The Company’s plan year is January 1 through December 31.
Associates can extend coverage to all their Eligible dependents.
Eligible dependents include the following:
Spouse – Your legal spouse.
Domestic Partner – Someone who meets the entire description of a domestic partnership as set forth in the Declaration of Domestic Partnership. If you are making a benefit change to add a domestic partner, you will be required to complete an affidavit.
Eligible Dependent Child:
Information on deductibles and co-pays can be found on the Summary of Benefits Coverage.
Information on each of the health plans offered can be found on the Plan Comparison section or in the Summary of Benefits Coverage for each plan.
Details can also be found on the UMR website.
Information on continuing benefit coverage is provided by the Company’s third-party COBRA administrator. Associates will be mailed information to their address on file with the Company after their termination has been processed.
Fischer Homes offers comprehensive dental coverage with both our Basic and Plus Plans. More detailed plan benefits are available on the Summary Plan Documents.
The Company offers a vision plan designed to reduce your costs for routine preventative eye care and prescription eyewear. More detailed plan benefits are available on the Summary Plan Documents.
Yes, Associates are covered under the employer group plan for $50,000.
Yes, Associates can purchase Supplemental Life and AD&D Insurance through the Standard at their own cost. Click for more details.
Yes, the supplemental policy you purchase is portable. Contact the Standard for more details on portability.
Each Associate has an initial enrollment period upon hire when you can choose a coverage amount of up to $250,000 without completing an Evidence of Insurability.
Supplemental life insurance must be elected in $10,000 increments.
If you decline this coverage during your initial open enrollment and wish to enroll later, you can do so during Open Enrollment. Evidence of Insurability may be required if you enroll after the initial enrollment period.
Yes, Associates may elect spousal and dependent child coverage if you elect coverage for yourself. If you want to enroll a spouse during your initial open enrollment period, you may choose a coverage amount up to 50% of your coverage not to exceed $30,000 without Evidence of Insurability.
Dependent child coverage has a flat benefit of $10,000.
HSA contributions are deposited in a special interest-earnings account, which you can draw from at any time for health care expenses.
You are eligible for an HSA with Heartland Bank as long as you are enrolled in a qualified high-deductible health plan (HDHP) such as the HSA Plus or HSA Basic plan. Employer contributions are only made possible to a qualified Heartland HSA account.
You are not eligible for an HSA if you are:
Covered by another health insurance plan, such as a spouse’s plan, that is not a qualified HDHP
Claimed as a dependent on another person’s tax return
Enrolled in Medicare benefits (if you are enrolled in Medicare and already have an HSA, you can continue to use the money in your account, but you cannot make new contributions to the account or open a new HSA)
If you have a Health Savings Account at another institution, it is easy to transfer or rollover the money to a Heartland Bank. By consolidating your HSA money, you will benefit from the convenience of having all your money in a single account. Only one rollover is permitted every 12 months.
Note: Rollover and transfer contributions do not count towards the maximum annual contribution amount.
To complete a rollover, contact Heartland Bank at 1-800-697-0049
Heartland Bank mails two tax forms to account holder who had account activity in the previous year tax year (contributions or withdrawals):
Form 1909-SA is sent by January 31st. It is sent to those who withdrew money from their HSA during the previous tax year.
For 5498-SA is sent by January 31st. It is sent to those who put money into their HSA during the previous tax year.
Associates may contact Heartland Bank at any time to receive a copy of these forms.
Yes. However if the funds are withdrawn for any expense other than a qualified medical expense, you will incur a 20% tax penalty and the amount withdrawn will be taxable as ordinary income.
After you reach age 65 you can withdraw the funds without penalty but the amounts withdrawn will be taxable as ordinary income unless the funds are used for a qualified medical expense.
Fischer Homes offers both a traditional 401(k) and Roth 401(k) with a wide range of investment options. The plan is administered by Pension Corporation of America with investment choices through Charles Schwab. You can contact Pension Corporation of America (PCA) at 1-800-848-5848 or email them at pensioncorporation@pencorp.com for information on the plan.
Upon hire, all Associates are automatically enrolled in the 401(k) plan at a 5% deferral rate. To opt out of this, or to change the deferral %, Associates should visit the Pension Corporation of America. Associates can also contact Pension Corporate of America at 1-800-848-5848 or via email at pensioncorporation@pencorp.com.
Information about the various funds offered in the 401(k) plan can be found at the Pension Corporation of America website.
Deferral percentage changes can be made on Pension Corporation of America’s website or by contacting PCA at 1-800-848-5848 or emailing them at pensioncorporation@pencorp.com.
The Company currently matches 50% of Associate deferrals up to 5%, for a maximum match of 2.5%. To receive the maximum Company match, Associates must defer 5% of their eligible compensation to the plan.
Associates are eligible to receive the Company matching Contribution on their first day of employment if they are over 21 years of age.
Funds may be withdrawn from your 401(k) account in these events
Age 59 ½ or older
Normal Retirement Age
Financial Hardship
Termination of Service
Death
Refer to the Summary Plan Description for more details about taking withdrawals from the Plan. Be sure to talk with your tax advisor to address any potential tax penalties with early withdrawal.
If you have an immediate financial need created by severe hardship and you lack other reasonably available resources to meet that need, you may request a hardship withdrawal from pre-tax deferrals, Roth deferrals, and rollover contributions.
A hardship, as defined by the government, can include:
Purchase of your primary residence
Payment of tuition and related costs for the Associate, spouse, dependents, or children who are no longer dependents for post-secondary education
Payment of certain medical expenses
Prevention of eviction from, or foreclosure on, your primary residence
Funeral/burial expenses for a parent, spouse, child, or dependent
Repair of damages to Associate’s primary residence that qualifies for casualty deduction
Expenses and losses incurred by the Associate on account of disaster declared by the Federal Emergency Management Agency (FEMA)
The amount you may borrow is limited by the tax laws governing the plan.
The minimum loan amount is $1,000 and the maximum loan amount is limited to the lesser of one-half of your vested account balance or $50,000. The total amount of any loans requested in a 12-month period cannot exceed $50,000.
Associates can only have one loan outstanding at a time.
Other requirements and limits must be met, and certain fees may apply. Refer to the Summary Plan Description for more details about loans.
| Years of Service | Vested (Percentage) |
|---|---|
| <2 | 0% |
| 2 | 20% |
| 3 | 40% |
| 4 | 60% |
| 5 | 80% |
| 6 | 100% |
Associates are eligible for personal time off based on their years of service.
| Years of Service | Days Accrued Per Year | Maximum Days Accrued |
|---|---|---|
| Year 1 | Days 1: 5 days Full Year: 15 | 15 |
| 2 to 5 Years | 15 | 25 |
| 6 to 15 Years | 20 | 30 |
| > 15 Years | 25 | 40 |
Upon processing the termination in Paylocity, the Payroll and Benefits team will determine if a personal time off (“PTO”) balance is owed to the Associate. If a balance is due, it will be paid on the Associate’s final paycheck.
Sales Counselors on the high potential plan are not due PTO upon termination as they do not accrue PTO under this plan.
Yes, Associates are permitted to use Personal Time Off in hourly increments.
Associates can request a leave of absence from the Company by completing the Leave of Absence Request form.
You may file a claim with the Standard, once your leave has been approved by Payroll. There is a seven-day elimination period before your STD compensation will begin.
Short-Term Disability will pay 60% of your base pay for up to 13 weeks. Should your medical provider deem you disabled for a longer period of time, you may then file for Long-Term Disability through the Standard.
The Standard reviews and makes claim determinations. Claim status and subsequent updates will be provided to you directly by the Standard.
To qualify for the benefit in 2024, submit proof of your physical and biometric screen must be submitted by September 30, 2023, to The Christ Hospital’s WellRight website.
Your medical provider will be aware of what is included in a biometric screen, the following measures are required for a completed PCP form:
See the PCP form for additional clarification.
Yes, if you have visited and were screened for the measures on the form as October 1, 2022. The completed and signed PCP form must be submitted by September 30, 2023, to The Christ Hospital’s WellRight website.
No, participation is not required but it is highly recommended for both your overall medical knowledge and the premium savings.
No. While we do recommend everyone gets annual physical, in the first year of the Wellness Program, only the Fischer Homes Associate’s physical with biometric screen forms will be used to determine the premium savings in 2024.
You may track your status on the The Christ Hospital’s WellRight website or the WellRight app. If you do have questions or concerns, you can contact Christ Hospital;
Email: Workforcewellness@thechristhospital.com
Phone at 513.263.8699
In 2024, the $600 savings will be allocated over 24 paychecks, this reduces your medical premium deduction by $25 each paycheck.
Contact our partners at The Christ Hospital with any questions or concerns
Email: Workforcewellness@thechristhospital.com
Phone: 513.263.8699
No. Due to HIPAA regulations and to maintain confidentiality Payroll and Benefits cannot accept your form. Please submit on The Christ Hospital’s WellRight website.
No, the form will be accepted if it has been signed by your medical provider (Nurse Practitioner, Nurse, or other medical professionals).
You may also upload your post-summary visit report, a MyChart summary report, or any other report available to you provided directly from your medical provider. Reports must include all the necessary measures listed on the PCP form.
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