Page 5 - Siemens Gamesa 2022 PY Benefits Guide
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BENEFIT BASICS CONTINUED












        For New Hires

        You must enroll for health and insurance benefits within    If you’re newly hired…
        30 days of your hire date. After the 30-day deadline, your
        next chance to enroll will be during Open Enrollment in the   You will receive an enrollment notification via
        fall or if you experience a Qualifying Life Event (QLE). You   email when your account is set up.  This may
        may enroll for the 401(k) Plan at any time.                take up to five days from your date of hire.
        Once you’re enrolled in health and insurance benefits, your
        coverage is retroactively applied back to your hire date.
        Deductions will begin on the next available pay period
        following your enrollment.
        If you have questions or need help with enrollment, please
        contact the Benefits Service Center at 844-315-3811.



        Health Care Terms to Know

        Knowing these health care terms can help you better understand how the plans work.

        ANNUAL DEDUCTIBLE                                      MEDICAL PREMIUMS (RATES)
        Your annual deductible is the amount you pay for office   The medical premium is the amount deducted from
        visits, prescription drugs and other covered services    your paychecks to pay for your medical coverage.
        before your plan begins sharing the cost.              Your deductions come out of your paycheck before
                                                               taxes.*
        COINSURANCE
        A percentage you and your plan pay when you’re         OUT-OF-POCKET MAXIMUM
        sharing costs. Coinsurance kicks in after you meet     The most an employee could pay during a coverage
        your annual deductible.                                period (one calendar year) for his/her share of the
                                                               costs of covered services, including copayments
        COPAY                                                  and coinsurance.
        A fixed amount you pay for a covered  health care
        service (e.g., primary care physician office visit or
        emergency room visit).

        IN-NETWORK PROVIDER
        Doctors, hospitals and services that contract with your
        plan are called in-network providers. You usually pay
        less when you use an in-network provider.











        *   The cost of coverage for your domestic partner comes out
          of your paycheck after taxes.


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