INTRO
Message from Human Resources
Helping you and your family reach and maintain good health is very important to Monarch Healthcare Management, and has a direct impact on our mission of providing exceptional care to our residents and making a difference in their lives. During this year, you have each proven you are heroes on the front lines of caring for others. In turn, Monarch Healthcare Management cares for you by providing a comprehensive package of benefits for you and your family.
Monarch is pleased to offer an extensive selection of benefits designed with your health and financial well-being in mind. We review our benefit program each year to ensure our offerings provide the best combination of benefit coverage, network access and affordability.
Eligibility
If you are eligible, you may enroll in benefits the first of the month following 30 days of employment. If you previously waived any benefits, you have the option during Open Enrollment to enroll or make benefit changes and add or drop dependent coverage without having a qualifying event.
FULL-TIME: You are eligible for all benefits if you are Full-Time working 30 or more hours per week
PART-TIME: You are eligible for certain additional benefits if you are Part-Time and work 20 to 29 hours per week
OVERVIEW
Monarch is pleased to announce that there are only minimal changes to your benefits for 2021.
Your Employee Benefit Guide and this web 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 web page or Benefit Guide, the insurance plan documents will prevail. If you have any questions, contact Human Resources.
ENROLLMENT
Action Required:
- LOG INTO bswift online or with the Mobile App between May 17 and May 28
- REVIEW your 2021 benefit elections and beneficiary designations
- CHANGE your existing coverage or make new elections no later than 10 PM on May 28.
ELECTION CHANGES
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.
MEDICAL
Refer to your Employee Benefits Guide or to the Medica Plan Summaries for additional coverage information.
HSA
Full-time employees only 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.
At enrollment, you select how much money you want deducted from each paycheck (24) on a pre-tax basis to meet your medical needs. You may change your election throughout the year. The IRS limits the amount of contributions employees are allowed each year, as follows:
2021 Annual Maximum Contribution
- Employee Only: $3,600
- Employee + 1: $7,200
- Family: $7,200
If you are between the ages of 55-65, you can also make an additional $1,000 “catch-up” contribution annually.
DENTAL
Dental Insurance is available to Full-time employees.
Delta Dental has the largest dental provider network in Minnesota and the United States. The dental plan utilizes two Delta Dental network options and provides you with the freedom to see any dentist you choose.
VISION
The Voluntary Vision plan is available to Full-time and Part-time employees.
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.
FSA
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.
Eligibility
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
- Up to $2,750 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 Health Care FSA used with an HSA
- Up to $2,750 annually
- Only participants who contribute to an HSA are eligible
- Reimbursements are limited to unreimbursed dental and vision expenses only
Dependent Care FSA
- Up to $5,000 annually
- Limited to $2,500 if you are married and file separate tax returns
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 31st annually to file your claims. Any funds after March 31 unclaimed will be forfeited.
BASIC LIFE/AD&D
Monarch provides Full-time 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. 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.
ADDITIONAL BENEFITS
Monarch 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 Part-time and Full-time employees. Additional benefits include:
- Allstate Term Life Insurance
- Aflac Short Term Disability Insurance
- Aflac Accident Insurance
- Aflac Critical Illness Insurance
- Transamerica Universal Life Insurance
- InfoArmor ID Theft Protection Insurance
Questions?
If you have questions about your benefits, schedule an appointment with EOI or contact your location's Human Resources Director.