Helping you and your family reach and maintain good health is very important to Apex Engineering Group. Apex is 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.
Eligibility
Regular employees working at least 30 hours per week are eligible to participate in benefits offered by Apex. 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.
Apex Engineering is committed to providing a competitive, cost-effective benefit program.
Please review your Benefit Guide for information on all of your benefits.
We are pleased to offer our employees an easy to use, online enrollment tool called Ease. Please use the link below to access your enrollment.
The benefit choices you make during your initial 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 2023 Employee Benefits Guide or contact Human Resources if you have questions about qualifying events.
Sanford Health Plan will continue to administer your medical and prescription drug benefits this year. The medical plan includes a prescription drug benefit, which covers prescriptions at participating pharmacies and mail-order maintenance drugs.
To find out if your provider is in-network, please visit the Sanford Health website below and click on Find a Doctor.
Flexible Spending Accounts
Apex offers employees the opportunity to enroll in health care and dependent care flexible spending accounts (FSAs) for eligible employees, administered by Wex Health (previously Discovery Benefits). These accounts allows you to pay for eligible health and dependent care expenses with pretax dollars. 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
Dependent Care FSA
How the 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 until March 30th annually to file your claims. Any funds after March 30 unclaimed will be forfeited.
Health Savings Account
The Health Savings Account (HSA) allows you to set aside pre-tax dollars to pay for eligible expenses. By contributing to a HSA you reduce your taxable income, so you pay less in taxes — which saves you money.
To be eligible for an HSA, you must be enrolled in the $3,000 High Deductible Health Plan (HDHP). Once you are enrolled, you will open an HSA through Wex Health.
Keep in mind the employer contribution and your contribution cannot exceed the overall IRS maximum. You may change the amount you contribute throughout the year. The above employer and employee contributions are subject to prorating.
Who's Your Beneficiary? Naming a beneficiary is a crucial part of electing a HSA. 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.
Sun Life Dental Plan
Apex partners with Sun Life to administer dental coverage. The dental plan provides comprehensive coverage to help you and your family maintain good dental health.
To find out if your provider is in-network, please visit the Sun Life website below. The Dental PPO Network is Sun Life Dental Network.
Apex partners with Sun Life for vision coverage to help pay for eye exams, prescription glasses and contact lenses. You receive a higher level of benefits when you see a provider in the network. Please note vision insurance is issued by Sun Life. Certain claims and network administration services are provided through Vision Service Plan (VSP). For detailed plan information, review your coverage details in your Benefit Guide.
To find out if your provider is in-network, please visit the VSP website below or call 1-800-877-7195.
Apex provides you with Basic Life/AD&D coverage as well as Short and Long Term Disability through Sun Life. You also have the option to purchase additional life insurance for you, your spouse and dependent children.
Basic Life/AD&D
Employees working 30 or more hours per week are eligible for $50,000 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 Sun Life pays 60% of your income to a maximum of $1,600 per week. You will pay taxes on the benefit through a payroll tax, so in the event of a claim your benefit will be tax free.
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 60% day elimination period are equal to 60% of covered monthly earnings up to $10,000 for full-time employees. You will pay taxes on the benefit through a payroll tax, so in the event of a claim your benefit will be tax free.
Apex Engineering provides eligible employees with the opportunity to participate in a variety of voluntary benefits through SunLife. The voluntary benefits are designed to help offset the cost of medical care, should you need it. You may enroll in any of the following benefits during our open enrollment period.
Accidental Injury Insurance
As we all know, accidents can happen at any time. Having an accident doesn’t just hurt you– it can also damage your finances. You medical insurance will cover some of the expenses, but you’ll be left to foot the bills for your copays and deductible. Accident insurance is designed to help meet out-of-pockets expenses and extra bills that can follow an accidental injury, whether minor or catastrophic. Coverage includes payments for emergency treatment and hospitalizations, as well as treatment for broken bones, lacerations, and burns. There is also a wellness benefit that includes a payment for completing a health screening or preventive care visit. Our group accident insurance is an affordable way to make sure you can cover the gap between what your medical insurance covers and what you’d owe out-of-pocket if you or a family member were to get injured.
Critical Illness Insurance
You may have medical insurance– But that doesn’t mean you’re covered for all of the expenses resulting from a serious illness. Critical Illness, including cancer, impacts so many lives. One of the greatest and most easily forgotten effects is the financial burden associated with such diagnosis. In addition to the cost of treatment, the time away from work can deplete your savings account in no time. Coverage for yourself includes payments up to $20,000 depending on the level of coverage you choose. Coverage for spouses and children can also be chosen.
By joining the Apex Engineering Group’s 401(k) plan you have an opportunity to make a real difference in the future of your retirement.
The Plan we offer is a valuable benefit to help you save for the future. Saving now can help you have the income you’ll need at retirement. Participating in the Plan is easy. You contribute a portion of your pay to your Plan account each payday through convenient payroll deduction. Contributions are then allocated to the Plan's investment options you select. Apex Engineering Group also makes contributions to your account.
There are significant tax advantages, too. For example, your qualifying contributions, employer contributions and all earnings on your account are not subject to current federal income tax (or, where applicable, state, or local taxes) until you take them out of the Plan. This tax deferral gives your retirement savings the ability to grow under the most favorable terms possible. The Plan also allows you to make designated Roth contributions. However, designated Roth contributions are included in your current taxable income, but may be withdrawn tax-free, if certain conditions are met. See your Summary Plan Description for more details.
By combining convenience with these special tax benefits, your retirement savings plan offers you one of the best ways to fund your future. We are excited to offer you this worthwhile benefit and we hope you will use it to help make your retirement dreams a reality. So, get started today and take the first step toward a brighter financial future!
Apex provides a competitive benefits package for all employees as part of our total compensation package:
Sometimes a personal or professional issue can affect your work, health, and general well-being. In these times, you may need an experienced professional to talk with to help you manage life’s challenges. Apex partners with Sun Life to offer you a Comprehensive Employee Assistance Program (EAP) from ComPsych. The EAP is here to help support you when dealing with issues such as emotional well-being, family and relationships, legal and financial issues, healthy lifestyles, or work / life transitions.
Some highlights of the EAP include:
Please consult your Employee Benefits Guide and review the plan summary for additional details.
As you consider your benefit options, please be sure to review all available information: Employee Benefits Guide, Ease portal and other videos and flyers found on this webpage. If you don't understand your benefits or need any assistance, please contact:
Lisa Markert
701-373-7999
Lisa.Markert@ApexEngGroup.com