Feldmann Imports offers you and your eligible family members a comprehensive and valuable benefits program. We encourage you to take the time to educate yourself about your options and choose the best coverage for you and your family.
Please review our 2022 Benefit Guide and watch a recording of the open enrollment education session to learn more about the benefit offerings for the plan year May 1, 2022 - April 30, 2023.
Medical
Dental
Health Savings Account - 2022 IRS limits for Health Savings Accounts Contributions
Health Care and Limited FSA
Your Employee Benefit Guide and this Landing Page provides general information as an overview. If there is any discrepancy between the insurance carrier's certificate of coverage or summary plan description and this landing page or Benefit Guide, the insurance plan documents will prevail. If you have any questions, contact Human Resources.
REMINDER: if you wish to participate in a Flexible Spending Account in 2022, you MUST make an active election each year. Prior elections do not carry over.
SPECIAL REMINDER
The Benefit choices you make during your initial enrollment or annual 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 or 60 days if the event is due to birth or adoption of a child.
Refer to your Employee Benefits Guide or contact Human Resources if you have questions about qualifying events.
Feldmann Imports offers three medical plan options. All options provide high-quality, affordable medical care, including preventive care, doctor's visits, hospitalization, and emergency care. However, each plan has unique characteristics and advantages. The plans are offered through PreferredOne.
PLAN CHOICES
NETWORK CHOICES
Refer to your Employee Benefits Guide or to the PreferredOne Plan Summaries for additional coverage information.
As an eligible employee, you are eligible to participate in a Health Savings Account (HSA)
Health savings accounts (HSA’s) are a tax-advantaged savings account paired with a high deductible health plan exclusively for the purpose of paying qualified medical, dental and vision expenses for you, your spouse and your dependents. You must be enrolled in the High Deductible Health Plan to be eligible to contribute to an HSA.
At enrollment, you select how much money you want deducted from each paycheck on a pre-tax basis to meet your medical needs. If you are already enrolled, Feldmann Imports will carry over your current salary reduction election. You may change your election throughout the year. The IRS limits the amount of contributions employees are allowed each year, as follows:
2022 Annual Maximum Contribution
If you are 55+, you can also make an additional $1,000 “catch-up” contribution annually.
Employer Annual Contribution: Feldmann Imports makes an annual employer contribution towards your Health Savings Account:
Employee Annual Maximum Contribution: If you want fund your HSA to the maximum limit, your maximum contribution cannot exceed:
If you are 55+, you can also make an additional $1,000 “catch-up” contribution annually.
The Health Care and Dependent Care Flexible Spending Accounts (FSA) allow you to set aside pre-tax dollars to pay for eligible expenses. By contributing to one or both of the Flexible Spending Accounts you reduce your taxable income, so you pay less in taxes — which saves you money.
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.
You may contribute as follows:
Health Care FSA
Limited Health Care FSA used with an HSA
Dependent Care FSA
How the Plan Works
Estimate expenses carefully, only $570 in the medical and limited FSA may be carried over to the next plan year. This means that if you have not incurred enough expenses to reimburse the funds in your account at the end of the year, your remaining account balance will be forfeited. 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 until June 30th annually to file your claims. Any unclaimed funds after June 30th will be forfeited.
Your dental plan is through HealthPartners.
Plan participants have the flexibility to see any dentist they choose. But greater discounts and benefits are available by seeing an in-network dentist. The provider options include:
In-Network – contracted providers; better discounts
o Benefit Level 1 is composed of HealthPartners and Park Dental Clinics (greater discounts)
o Benefit Level 2 is composed of other contracted providers (lesser discounts)
Out-of-Network – all other providers; no negotiated discounts
EyeMed provides coverage for prescription glasses and contact lenses, as well as other vision-related items.
How the Plan Works
Eyemed's Insight network offers access to a large variety of providers; using an in-network provider increases your discounts for services. This plan provides coverage for materials and hardware only. Coverage for vision exams are provided as a preventive service through your medical plan.
Feldmann Imports provides eligible employees with basic term life and accidental death and dismemberment (AD&D) coverage at no cost to you.
The life benefit is payable to your designated beneficiary in the event of your death equal to 1x annual base salary up to a maximum of $400,000. AD&D benefits are payable to you in the event of a dismemberment or an additional benefit is payable to your beneficiary if your death is the result of an accident.
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.
You decide if you want to purchase voluntary coverage. You need to choose the level of coverage and who you want to cover – yourself, your spouse and/or your dependent children.
NOTE: You must purchase coverage for yourself in order to elect coverage for your spouse and/or child(ren). Children are eligible to participate to age 26 (through age 25).
SPECIAL REMINDER
Short Term Disability Insurance through NYL (formerly Cigna) can pay you a weekly benefit if you have a covered disability that keeps you from working. Short Term Disability insurance can replace part of your income while you recover.
Benefit Features
As you consider your benefit options, please be sure to review all available information: Employee Benefits Guide and other videos and information found on this Landing Page. If you don't understand your benefits or need any assistance please contact:
Sally Kastendick
(952) 837-6374
SallyK@Feldmannimports.com