Helping you and your family reach and maintain good health is very important to Ralco. 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.
Ralco is committed to providing a competitive, cost-effective benefit program. We are implementing some changes and additions for the 2023 plan year, which we hope will be positively received by you and your families. Below are highlights of changes that will become effective on January 1, 2023.
All regular employees working at least 30 hours per week are eligible to participate in the benefit plans offered by Ralco. Your coverage becomes effective the first of the month following 30 days of active employment. When you enroll in the benefits program, you may also cover your eligible dependents. Dependents include your legal spouse and children.
Children eligibility is as follows -
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 Life 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.
Contact Human Resources if you have questions about Qualifying Life Events.
Embedded Family Deductible (HMO) – Plan begins to pay benefits for any covered family member who satisfies the individual deductible. Once two family members reach their individual deductibles, the family level is considered to be satisfied in full and the plan will begin to pay benefits for all family members, even the members who have not yet satisfied the individual deductible.
Non-Embedded Family Deductible (PPO)- If more than one person is covered under the plan, all family members must collectively meet the family coverage amounts. The annual out of pocket maximum does not exceed $6,350 for any one person
The Health Savings Account (HSA) allow 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 to contribute towards an HSA tax-free, you must meet the requirements below: