Page 13 - Genesis Care 2022 Benefit Guide

Medical & Spending Voluntary Additional
Contents Prescription Dental Vision Accounts Life & AD&D Disability Benefits 401(k) Information Contacts

LIFE AND ACCIDENTAL DEATH &

DISMEMBERMENT (AD&D)

Basic Life and AD&D
All benefit eligible team members are provided with Basic Life and AD&D. This benefit is 100% paid for by GenesisCare.

COVERS BENEFIT AMOUNT
Team Member 1.5 times your base annual earnings, up to a maximum of $500,000

The IRS requires you to be taxed on the value of employer-provided group term life insurance over $50,000. The taxable value of this life insurance coverage is called “imputed income.”
Even though you don’t receive cash, you are taxed as if you received cash in an amount equal to the value of this coverage. See BenefitExpress for the calculations and tax table. Impact
of imputed income is generally nominal.
Supplemental Life and AD&D

Supplemental Life and AD&D insurance gives you the opportunity to purchase additional life insurance for you and your family.

COVERS BENEFIT AMOUNT
– Increments of $10,000 up to $700,000 or 5x base salary
Team Member – Guaranteed Issue: $200,000 or 3x your basic annual earnings, whichever is less
– Benefits reduce after age 65
Spouse – Increments of $5,000 (not to exceed EE voluntary life and AD&D coverage) up to $300,000
– Guaranteed Issue: $50,000

Child(ren) Flat benefit of $10,000 per child
Your cost per pay period is determined by your election. To determine your cost per pay period please refer to the BenefitExpress Enrollment site.

For the Voluntary Life and AD&D, you and your covered dependents are responsible for completing evidence of insurability (EOI) if you are
electing an amount of coverage greater than the guaranteed issue amount.
If EOI is required, you will be prompted to complete EOI during your enrollment process within BenefitExpress. The coverage for the requested
amount is not available until Voya has approved.

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