Table of Content
- Header
- Wellbeing
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Page
- WELCOME
- SEPTEMBER IS BUILDING FINANCIAL WEALTH AND GAINING ASSEST MONTH!
- NEW HIRE ENROLLMENT & ELIGIBILITY
- MEDICAL/RX
- VIRTUAL VISITS
- FSA & HSA
- DENTAL
- VISION
- LIFE & DISABILITY
- ACCIDENT, CRITICAL ILLNESS, & HOSPITAL INDEMNITY
- UNDERSTANDING YOUR BENEFITS
- 401(k) PLAN OVERVIEW
- CARRIER CONTACTS
- CONTACT US
- Footer
Wellbeing
In today's fast-paced and interconnected world, where stress and mental health issues are on the rise, effective well-being plays a crucial role. At Teijin, we recognize that a healthy, content workforce is not only more productive but also fosters a positive culture. We strive for a supportive and inclusive environment where we encourage and support improvement of physical, mental, emotional, and social well-being. Whether within a corporate setting, a community, or on a personal level, well-being focuses on fostering awareness, empathy, and support to create a healthier and more balanced workplace and environment for all. Prioritizing employee wellness and wellbeing is not just a policy but a reflection of our commitment to both the individual and collective success of team.
To access the wellbeing newsletter, which includes resources, tips, recipes, and more, please select the button below.
WELCOME
Helping you and your family reach and maintain good health is very important to Teijin Automotive Technologies. We are pleased to offer a selection of benefits designed with your health and financial wellbeing in mind. We review our benefit programs each year to ensure we consider the best combination of benefit coverage, network access and affordability for employees.
Please review your 2023 Teijin Automotive benefit materials for more information regarding your plans offerings for 2023
SEPTEMBER IS BUILDING FINANCIAL WEALTH AND GAINING ASSEST MONTH!
September is Building Finacial Wealth and Gaining Assets Month!
Building financial wealth and gaining assets are essential to creating your financial legacy. Here are assets and financial products that can help you build the financial legacy you desire.
September 1
Invest in Your Financial Education
September 8
Open and Index Fund
September 15
Open a Roth IRA
September 22
Look into Property Ownership
September 29
Consult a Finacial Advisor
NEW HIRE ENROLLMENT & ELIGIBILITY
All newly hired salaried Employees will be effective their date of hire medical, dental, vision, life, and disability. Legal, critical illness, and accident will be effective the 1st of the month following date of hire. Flexible spending account will be effective after the 90th day ore hire. Regular employees working at least 30 hours per week are eligible to participate in benefits offered by Teijin. When you enroll in the benefits program, you may also cover your eligible benefits. Dependents include your legal spouse, child(ren) up to age 26 (regardless of student status, marital status, residence, or financial dependence on you), and an unmarried child incapable of self-support.. Children eligibility is as follows -
- Medical: End of the year the child turns 26
- Dental & Vision: End of the year the child turns 26
- Voluntary Life, Accident, Critical Illness: End on child's 26th birthday
Enrollment Action Required:
ENROLLMENT INSTRUCTIONS:
- Go to workforcenow.adp.com (link below) and log in using your current User ID and Password
- Enrollment Starting Point: Myself -> Benefits -> Enrollments
- Choose Open Enrollment -> Enroll Now
- Follow the online instructions to complete Open Enrollment
- Review your enrollments; Print your confirmation statement (click download); Submit Enrollment
- Verify premium deductions with your first paycheck of the year
The Benefit choices you make during your open enrollment remain in effect for the entire year. You can, however, modify your elections under certain circumstances, called "Qualifying Events" These are events such as marriage, divorce, birth or adoption of a child, loss of eligibility under another plan. If you experience a qualifying event, you may make changes to your benefits within 30 days of the event.
Contact Human Resources if you have questions about qualifying events or if you find any discrepancies in your contributions.
MEDICAL/RX
BCBSM: Medical/Rx (Group #71319) | 866.491.3085 | www.bcbsm.com
BCBSM will continue to be the medical and prescription carrier this year. The plans that will be offered effective January 1, 2023 are as follows:
- PPO Gold
- PPO Silver
- PPO HDHP with HSA
A PPO plan (BCBS) is a type of managed care health insurance plan that provides maximum benefits if you visit an in-network physician or provider, but still provides some coverage for out-of-network services. You may also visit any provider without a referral from your primary care physician. To find out if your provider is in-network, please visit the BCBSM website below. Be sure to select your correct network by choosing either PPO Plans under "Plan" in the upper right corner. Once you select your correct network you can search for a doctor or care provider by name, specialty, or condition.
You may view participating providers at the link below or consult with your existing providers.
VIRTUAL VISITS
BCBSM: Virtual Visits (Group #71319) | 844.606.1608 | www.bcbsmonlinevisits.com
Teijin provides those employees who are covered by one of the BCBSM medical plans access to virtual visits with BCBSM Online Visits. BCBSM Online Visits provide members the opportunity to receive medical health care from the comfort of your own home. With BCBSM Online Visits, eligible employees and dependents have access to board certified doctors 24 hours a day, 7 days a week, 365 days per year.
How Much Does it Cost?
- Standard Plan (Non HDHP/HSA): Equal to your office visit copay.
- HDHP/HSA Plan: Services will be subject to your deductible and coinsurance
- Prescriptions: If prescribed during a virtual visit, applicable Rx cost sharing will apply based on which medical plan you are enrolled in.
To get access to these convenient services, visit www.bcbsmonlinevisits.com - OR - you may call 844.606.1608.
FSA & HSA
Health Equity: HSA (Account #52926) | 866.346.5800 | www.healthequity.com
EBC: FSA (Account #C98188E) | 800.346.2126 | www.ebcflex.com
The Health Savings Account (HSA) and Health Care Flexible Spending Accounts (FSA) allow you to set aside pre-tax dollars to pay for eligible expenses. By contributing to an FSA or HSA you reduce your taxable income, so you pay less in taxes — which saves you money.
HEALTH SAVINGS ACCOUNT (HSA)
- You are allowed to contribute up to $3,850 annually as an individual or $7,750 as a couple/family
- Teijin will contribute $500 to enrolling singles and $1,000 to enrolling couple/families*
- Your contribution max (after Employer contributions) will be $3,350 annually as an individual or $6,750 as a couple/family
- If you are age 55 and older, you may contribute and additional $1,000 as a "Catch-Up" contribution
- You must be enrolled in a qualified HSA-eligible health plan, but you or your spouse may not participate in an FSA or Health Reimbursement Account (HRA)
*Employer HSA Contribution will be 1/2 funded first pay in January and 1/2 funded in the first pay in July
**To receive the Employer funding portion of the HSA you must be employed and enrolled in the HDHP Plan at the time the employer contribution is made
How the HSA Plan Works
You may use your HSA funds to pay for eligible medical, prescription drug, dental or vision expenses. Unused funds remain in your account for future use and roll over each calendar year. You can change your HSA contribution at any time during the plan year for any reason.
HEALTH CARE FSA
- You may contribute up to $2,850 annually
- All benefit eligible can participate, unless you or your spouse are contributing to an HSA
- Reimbursements allowed for unreimbursed medical, prescription, dental, and vision expenses
LIMITED PURPOSE FSA
- If you open or contribute to a Health Savings Account (HSA), you may only enroll in the Limited Purpose FSA for DENTAL AND VISION expenses ONLY
FSA Contributions
The election you make during enrollment is your election for the entire plan year. You may change it only if you have a qualifying life event and the change request must be consistent with the event.
How the FSA Plan Works
You must incur your eligible expenses during the plan year — January 1 to December 31. An expense is considered to be incurred when the service is performed, not when you are billed or pay for the service. You do, however, have ability at the end of each plan year, you may use these funds left over from the current year FSA balance to pay for eligible expenses incurred in the first 2 ½ months of the following year. Any Unused funds beyond the 2 ½ month grace period will be forfeited.
DENTAL
Delta Dental: Dental (Group # 5291) | 800.524.0149 | www.deltadentalmi.com
Teijin's dental plan provides comprehensive coverage to help you and your family maintain good dental health. Providers are part of the Delta Dental PPO or Delta Dental Premier Network, or you may see an out-of-network dentist of your choice. Be aware if you go out-of-network, your costs will be higher.
To find out if your provider is in-network, please visit the Delta Dental Find a Dentist site below.
VISION
EyeMed: Vision (Policy #1008355-1000) | 866.939.3633 | www.eyemed.com
Teijin Automotive offers vision coverage through EyeMed to help pay for eye exams, prescription glasses and contact lenses. You receive a higher level of benefits when you see a provider in network, however, out-of-network coverage is provided but may only be handled as reimbursements in some situations. Review your coverage details in your Benefit Guide.
To find out if your provider is in-network, please visit the website below.
LIFE & DISABILITY
The Hartford: Life and Disability (Life & LTD Policy: #804746; STD Policy: #804747) | 888.301.5615 | www.thehardford.com
Teijin Automotive Technologies provides you with Basic & Voluntary Life/AD&D coverage as well as Short- and Long-Term Disability through The Hartford.
Basic Life/AD&D
Employees working 30 or more hours per week are eligible for 1x base annual earnings to a maximum of $200,000 in coverage payable to your designated beneficiary in the event of your death. An additional accidental death & dismemberment benefit (AD&D) is payable to you in the event of a covered dismemberment or to your beneficiary if your death is the result of an accident.
Voluntary Life/AD&D
A sudden accident or death can leave you or your loved ones in a vulnerable position. Employees have the opportunity to enroll in Term Life and Accidental Death & Dismemberment insurance which will supplement lost income in the event of an accident or death. If you choose to enroll in employee coverage, this will be in addition to your employer provided Basic Life coverage.
Who's Your Beneficiary? Naming a beneficiary is a crucial part of electing life insurance. Also, don't forget to update your primary or secondary beneficiary if you experience a life event, such as a divorce or birth of a child.
Short Term Disability
Everyday illnesses or injuries can interfere with your ability to work. Even a few weeks away from work can make it difficult to manage household costs. Short Term Disability coverage provides financial protection for you by paying a portion of your income, so you can focus on getting better and worry less about keeping up with your bills. Your coverage through The Hartford is determined upon your seniority within the organization.
- 1 Year of Service or Less: 67% of your weekly earnings to a max of $7,500 per week payable for 26 weeks
- 1-3 Years of Service: 1st 30 Days: 100% of your weekly earnings to a max of $7,500; Next 150 Days: 67% of your weekly earnings to a max of $7,500
- 3-5 Years of Service: 1st 60 Days: 100% of your weekly earnings to a max of $7,500; Next 120 Days: 67% of your weekly earnings to a max of $7,500
- 5+ Years of Service: 1st 90 Days: 100% of your weekly earnings to a max of $7,500; Next 90 Days: 67% of your weekly earnings to a max of $7,500
Long Term Disability
Serious illnesses or accidents can interrupt your life, and your ability to work for months – even years. Long Term Disability provides financial protection for you by paying a portion of your income, so you have financial support to manage your disability and your household. Benefits begin after a 180 day elimination period are equal to 67% of covered monthly earnings up to $7,500 for full-time employees.
Please consult your Employee Benefits Guide for additional details.
ACCIDENT, CRITICAL ILLNESS, & HOSPITAL INDEMNITY
The Hartford: Accident, Critical Illness, & Hospital Indemnity (Policy: #8047477) | 888.301.5615 | www.thehardford.com
Legal Shield: Legal and ID Theft | 800.654.7757 | www.legalshield.com
Teijin Automotive Technologies provides a competitive benefits package for all employees as part of our total compensation package. We realize you make benefit choices based on what’s important to you and the needs of your changing lifestyle. Therefore, along with our core benefits, we offer these additional benefits which help to provide financial support to employees. Additional benefits include:
- Accident Care
- Critical Illness
- Hospital Indemnity
- Legal Shield
UNDERSTANDING YOUR BENEFITS
401(k) PLAN OVERVIEW
Empower: 401(k) (Policy #194612.01) | 844.465.4455 | www.empowermybenefit.com
A 401(k) plan is a retirement savings plan designed to allow eligible employees to supplement any existing retirement and pension benefits by saving and investing through a voluntary salary contribution. Empower Retirement administers the 401(k) Plan
Eligibility Requirements & Enrollment
To enroll in the Plan, employees must be age 18 or older. Eligible employees may enroll each month by using the online enrollment option at empowermyretirement.com.
Employee Contributions & Limits
You may make pre-tax or Roth (after-tax) contributions to the plan. Below are the 2022 contributions limits:
Employer Contributions
Safe Harbor Employer Matching Contribution
Your Plan provides for a safe harbor employer matching contribution of 100% of the first 3%, and 50% of the next 3%.
Employer matching contributions are immediately 100% vested.
CARRIER CONTACTS
BCBSM: Medical/Rx (Group #71319) | 866.491.3085 | www.bcbsm.com
BCBSM: Virtual Visits (Group #71319) | 844.606.1608 | www.bcbsmonlinevisits.com
Health Equity: HSA (Account #52926) | 866.346.5800 | www.healthequity.com
EBC: FSA (Account #C98188E) | 800.346.2126 | www.ebcflex.com
Delta Dental: Dental (Group # 5291) | 800.524.0149 | www.deltadentalmi.com
EyeMed: Vision (Policy #1008355-1000) | 866.939.3633 | www.eyemed.com
The Hartford: Life and Disability (Life & LTD Policy: #804746) | 888.301.5615 | www.thehardford.com
The Hartford: STD, Accident, Critical Illness, & Hospital Indemnity (Policy: #8047477) | 888.301.5615 | www.thehardford.com
Empower: 401(k) (Policy #194612.01) | 844.465.4455 | www.empowermybenefit.com
CONTACT US
As you consider your benefit options, please be sure to review all available information: Employee Benefits Guide, Internet, and other videos and flyers found on this webpage. If you don't understand your benefits or need any assistance, please contact us. The link to your contact is to the right.