Page 7 - Franklin Madison 2022 Benefits Guide
P. 7
Benefits Overview
Franklin Madison Offers Two Types of Benefits:
y Company-provided Beneits: All eligible full-time employees receive a basic level of Company-
provided coverage. The Company pays the full cost of those beneits.
y Voluntary Beneits: If eligible, you can add to your Company-provided Basic coverage by electing
some or all of the Voluntary beneits the Company ofers.
Company-
Coverage Beneit Amount/Description provided or Coverage Efective
Voluntary
Date
Beneit?
Medical Healthcare preventive and illness coverage for you and your eligible Voluntary
dependents.
Dental Dental preventive, restorative and orthodontia care for you and eligible Voluntary
dependents.
Vision Care Vision exam and corrective care for you and eligible dependents. Voluntary
Basic Life Insurance 1.5 times your annual Beneit Salary, up to a maximum of $600,000. Company-
provided
Basic Accidental
Death & 1.5 times your annual Beneit, up to a maximum of $600,000. Company-
Dismemberment provided
(AD&D) Insurance
Supplemental Life Buy-up option allowing you to increase life insurance for you, your Voluntary
Insurance spouse or your child(ren). May be subject to EOI.
Buy-up option allowing you to increase your accident insurance
Supplemental amounts for you, your spouse or your child(ren). May be subject to Voluntary First of the month
following date of
AD&D Insurance EOI. hire
Pre-tax savings account to spend on qualiied medical expenses. The
Health Savings contribution limits are $3,650 for employee only and $7,300 for all other Voluntary
Account coverage levels. Franklin Madison contributes up to $600 for employee
only and up to $1,200 for all other coverage levels.
Flexible Spending Pre-tax savings spending account for healthcare (up to $2,700/year) Voluntary
Accounts and dependent care (up to $5,000/year) expenses.
Accident plan will pay scheduled beneits for treatment, injury or
Accident Insurance services incurred by a covered person who is injured in an accident Voluntary
while insurance is in efect, subject to any plan limitations and
exclusions.
Critical Illness Critical Illness plan will pay a lump sum beneit for a covered person Voluntary
diagnosed with certain covered illnesses while insurance is in efect,
Insurance subject to any Pre-existing Condition Limitation.
First of the month
Short Term A percentage of your Base Salary based on your length of service, for Company- following 6 months
Disability Plan up to 12 weeks of disability. provided of employment
Long Term 60% of your Beneit Salary, up to a maximum of $15,000 a month— Company- First of the month
following date of
Disability Plan once you have been disabled for more than 12 weeks. provided hire
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Franklin Madison Offers Two Types of Benefits:
y Company-provided Beneits: All eligible full-time employees receive a basic level of Company-
provided coverage. The Company pays the full cost of those beneits.
y Voluntary Beneits: If eligible, you can add to your Company-provided Basic coverage by electing
some or all of the Voluntary beneits the Company ofers.
Company-
Coverage Beneit Amount/Description provided or Coverage Efective
Voluntary
Date
Beneit?
Medical Healthcare preventive and illness coverage for you and your eligible Voluntary
dependents.
Dental Dental preventive, restorative and orthodontia care for you and eligible Voluntary
dependents.
Vision Care Vision exam and corrective care for you and eligible dependents. Voluntary
Basic Life Insurance 1.5 times your annual Beneit Salary, up to a maximum of $600,000. Company-
provided
Basic Accidental
Death & 1.5 times your annual Beneit, up to a maximum of $600,000. Company-
Dismemberment provided
(AD&D) Insurance
Supplemental Life Buy-up option allowing you to increase life insurance for you, your Voluntary
Insurance spouse or your child(ren). May be subject to EOI.
Buy-up option allowing you to increase your accident insurance
Supplemental amounts for you, your spouse or your child(ren). May be subject to Voluntary First of the month
following date of
AD&D Insurance EOI. hire
Pre-tax savings account to spend on qualiied medical expenses. The
Health Savings contribution limits are $3,650 for employee only and $7,300 for all other Voluntary
Account coverage levels. Franklin Madison contributes up to $600 for employee
only and up to $1,200 for all other coverage levels.
Flexible Spending Pre-tax savings spending account for healthcare (up to $2,700/year) Voluntary
Accounts and dependent care (up to $5,000/year) expenses.
Accident plan will pay scheduled beneits for treatment, injury or
Accident Insurance services incurred by a covered person who is injured in an accident Voluntary
while insurance is in efect, subject to any plan limitations and
exclusions.
Critical Illness Critical Illness plan will pay a lump sum beneit for a covered person Voluntary
diagnosed with certain covered illnesses while insurance is in efect,
Insurance subject to any Pre-existing Condition Limitation.
First of the month
Short Term A percentage of your Base Salary based on your length of service, for Company- following 6 months
Disability Plan up to 12 weeks of disability. provided of employment
Long Term 60% of your Beneit Salary, up to a maximum of $15,000 a month— Company- First of the month
following date of
Disability Plan once you have been disabled for more than 12 weeks. provided hire
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