2022 - 2023 Plan Year
Introduction
Here you will find important information and resources regarding your benefits as well as company policies and procedures.
Benefits Overview
Review all your benefits plans, options, and rates for 2022 in the Bomco Open Enrollment Memo
Contact Us
Client Contacts
Katy Flaherty
kflaherty@bomco.com
(978) 283-9000
Mike McCarthy
mmccarthy@bomco.com
(978) 283-9000
Medical Benefits
Bomco offers medical coverage through Tufts Health Plan to help protect you and your family from the high cost of medical care. Tufts is committed to changing health care through outstanding service, valuable products and cost savings you can measure year after year. Tufts offers an extensive network of providers to choose from. For more information, please visit https://tuftshealthplan.com/ To find a doctor, please visit https://tuftshealthplan.com/find-a-doctor
2022 Contributions:
Employee Only $46.88 per pay period (Bomco contributes $109.39 per pay period)
New! Employee + One (Spouse or Child) $46.88 per pay period (Bomco contributes $200.03 per pay period)
Employee plus family $110.21 per pay period (Bomco contributes $379.75 per pay period)
When can participation begin? First of the month after 60 days of employment
Health Reimbursement Arrangement (HRA)
HRA Plan Design
Bomco will reimburse the first $750 of the individual and the first $1,500 of the individual + one and family deductible.
How Does It Work?
- After your visit with your provider, the provider bills Tufts directly
- Tufts adjudicates the bill and send the claim directly to HRCTS and sends an EOB to you and the provider
- HRCTS sends the payment directly to the provider and then provider will bill you the remaining amount due
How Do I Get Reimbursed?
Your medical claims are paid automatically using the money in your HRA fund, eliminating the need to submit a manual HRA reimbursement request. HRC Total Solutions will send the payment directly to the provider.
What Can I Use My HRA For?
Your HRA will pay for your deductible services, which are defined in your Benefits Summary.
Questions?
For more information please see Human Resources.
Dental Benefits
Bomco offers dental coverage through Delta Dental. The Delta plan offered covers you for preventive dental care services and other services like fillings, care of infections, crowns, and more.
You are not required to use a participating dentist, however, when you do, you will be able to take advantage of negotiated provider discounts.
To find a dentist, go to: www.deltadentalma.com
2022 Contributions:
Employee Only $2.79 per pay period (Bomco contributes $6.50 per pay period)
Employee plus family $7.31 per pay period (Bomco contributes $17.06 per pay period)
When can participation begin? First of the month after 60 days of employment
2022 Principal Basic Life/AD&D and Voluntary Life Insurance
Your family depends on your income for a comfortable lifestyle and for the resources necessary to make their dreams – such as college education – a reality. Like anyone, you don’t like to think of the scenario where you’re no longer there for your family. However, you do need to ensure their lives can continue if the worst should occur. Our Basic Life and AD&D insurance plan pays benefits if you die or are seriously injured.
Employer Paid Basic Life/AD&D General Provisions:
Benefit Amount: 1x Annual Earnings up to $50,000
Benefit Max: $50,000
Age Reduction: 50% at age 70
Our Voluntary Life Insurance Plan provides additional coverage if you die or are seriously injured. Eligibility includes all employees working 30+ hours per week and their spouses and dependents.
2022 Principal Long Term Disability (LTD)
Our Long Term Disability Insurance (LTD) will pay you a monthly benefit if you are unable to work due to a disabling accident or sickness for an extended period of time.
Employer Paid LTD General Provisions:
Elimination Period: 180 days
Benefit Duration Period: Social Security Normal Retirement Age (SSNRA)
Income Replacement Level: 60% of weekly earnings (up to maximum)
Maximum Benefit: $1500.00 Weekly
2022 Principal Voluntary Accident Insurance
Accident Insurance plan provides benefits when injuries, medical treatment and/or services occur as a result of a covered accident. With Accident Insurance, you’ll receive payment(s) associated with a covered injury and related services. You can use the payment in any way you choose – from expenses not covered by your major medical plan to day-to-day costs of living such as the mortgage or your utility bill.
Why do I need Accident Insurance?
· Accident insurance will pay a benefit for over 90 different accident related injuries or treatments (see Human Resources for the full listing)
· No pre-existing condition limitation
· Does not offset with other benefits
· Portability
· BONUS! Each covered member (3 per family) will receive $50 for proof of 1 health screening performed in a 12 month period
Retirement
Bomco offers a 401(k) plan through Fidelity to help you reach your financial goals.