2024 Benefits Guide
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Welcome
A MESSAGE FROM OUR VICE PRESIDENT, HUMAN RESOURCES
Thank you for considering Merchants Fleet for the next step in your career. We are delighted you’re interested in joining our team. Every day I walk through the doors of our NH headquarters even after 20 years I am energized by what I see and feel. Because together, we have built a one-of-a-kind workplace where people are empowered to lead and help others succeed.
Innovation, collaboration, and dedication are at the core of our culture. This has made us the fastest-growing and one of the largest fleet management companies in the country. As you explore opportunities with us, we encourage you to think creatively, outside of the box (because that’s part of our company DNA and logo) about how you can contribute to our mission and what we can achieve together. Our fast-paced, dynamic environment will value and reward your unique brain, ideas and creativity.
In exchange, we offer you competitive pay, topnotch benefits, invaluable training, thoughtful perks, and a company culture that prioritizes your happiness and recognition. We are proud of our Total Rewards program designed to support health, wealth, growth, work-life balance, recognition, and belonging. Keep reading to learn more.
Contents Useful Contacts Eligibility and Enrollment Introducing HealthJoy Medical Plans Medical Plans – Additional Information Health ReimbursementArrangement (HRA) Health Savings Account (HSA) FlexibleSpending Accounts (FSA) Dental Plans Vision Plan LifeInsurance & Disability Employee Assistance Program 401(k)Plan Mind Body Soul 360 Wellness Fleet Holiday Schedule Auto Holiday Schedule Required Notices Key Dates 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
Alicia
Hart
Useful Contacts
hr@merchantsfleet.com
https://healthplansinc.com/members/member s-secured/
https://myhealthaccountsolutions.voya.com/ HASinfo@voya.com 1-833-232-4673
https://portal3.nedelta.com/BenefitLookup17/ Account/SubrLogin
www.401k.com
https://login.standard.com/register
https://member.eyemedvisioncare.com
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Contact or Vendor Phone Website & Email Benefits Manager P:
F:
603-836-6526
603-218-6835
Member Services: 877-906-5730 Pharmacy: 800-334-8134 800-401-3539
800-832-5700
800-835-5095
888-937-4783
844-225-3407 Medical & Rx Dental 401(k) Life/Disability Vision FSA/HSA
Eligibility & Enrollment
At Merchants, we pride ourselves with providing you and your family a comprehensive array of benefits to protect your health, your family and your way of life.
Here are some important things to know…..
Eligibility:
▪ All full-time, permanent employees are eligible for Medical, Dental, Vision, Life & Disability & Paid Time Off
▪ All employees (Full, Part & Limited) are eligible for the Merchants 401k Plan
Dependent Coverage:
For dependent eligible benefits, eligible Family Members are:
▪ Your legally married spouse
▪ Your Registered Domestic Partner (RDP) and their children, where applicable by state and federal law
▪ Your children who are your natural children, stepchildren, adopted children, or children for whom you have legal custody (age restrictions may apply). Disabled children aged 26 or older who meet certain criteria may continue your health coverage.
Enrollment
▪ New Hires are eligible for benefits on the first of the month following date of hire.
▪ 401k eligibility is date of hire
▪ Open enrollment is offered in November each year to provide you the opportunity to edit your elections for a January 1st start date.
▪ Life Events have a 30-day window from the date of the event for you to be able to add or edit your current benefits.
▪ Enrollment is completed in our HRIS system, UKG, and on Fidelity’s website (401k).
Types of Life Events:
▪ Marriage or divorce
▪ Birth or adoption of a child
▪ Child reaching the maximum age limit
▪ Death of a spouse, Registered Domestic Partner (RDP), or child
▪ Change in child custody
▪ Change in coverage election made by your spouse/RDP during his/her employer’s Open Enrollment period
▪ You lose coverage under your spouse’s/RDP’s plan
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Introducing HealthJoy
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MedicalPlans
Merchants partners with HPI to provide two PPO plan options with nationwide coverage. Both
To find a provider visit the HPI Provider Lookup and choose PPO for the plan.
Option 1: PPO with HSA
Expenses on this plan apply to your deductible first before the plan begins covering expenses. There are no copays on this plan.
You will have a Health Savings Account (HSA) with this plan – find more information in the Health Care Account section of this booklet.
Option 2: PPO with HRA
This is a traditional copay style plan. Most services have a flat payment for services, including prescriptions.
There is a deductible for some services and a Health ReimbursementArrangement (HRA) will assist with half of the expense find more information in the Health Care Account section of this booklet.
*Applies on all non-copay covered services once deductible is met. This includes hospital
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PPO with HRA Employee Only Employee + Dependent(s) Deductible $1,500 $3,000 Coinsurance* (HPI / EE) 80% / 20% 80% / 20% Office Visit $30 Copay $30 Copay Specialist $50 Copay $50 Copay Urgent Care $30 Copay $30 Copay Emergency Room $150 Copay $150 Copay OOP Max (Fam) $3,000 $6,000 Prescription Drugs Generic $10 Brand $30 Non-Formulary $40 Specialty $100 Mail Order 2x for 90 day supply Bi- Weekly Contributions PPO with HSA PPO with HRA Employee** Merchants Employee** Merchants Employee $40.59 $337.71 $65.56 $340.21 Employee + 1 $75.42 $648.15 $125.87 $653.21 Employee + 2 or more $116.09 $965.86 $187.50 $973.02 **An additional $19.00 (bi-weekly) per employee and spouse/domestic partner will be applied to these rates for those that use tobacco products. PPO with HSA Employee Only Employee + Dependent(s) Deductible $2,000 $4,000 Coinsurance* (HPI / EE) 80% / 20% 80% / 20% Office Visit 20% after ded. 20% after ded. Specialist 20% after ded. 20% after ded. Urgent Care 20% after ded. 20% after ded. Emergency Room 20% after ded. 20% after ded. OOP Max (Fam) $4,000 $8,000 Prescription Drugs Generic 10% after ded. Brand 20% after ded. Non-Formulary 30% after ded. Specialty 30% after ded Mail Order 10% after ded for 90 day supply
x-rays,
therapy,
benefits.
confinements,
physical
etc. See Plan Summary for more detailed information and out-of-network
prescription
plans offer the same networks, coverage and
coverage.
Medical Plans -Additional Information
Opt-Out
Incentive
Domestic Partner
Tobacco
Use Surcharge
Already have medical coverage? Opt-out of participating in Merchants’ health plan and receive $80/pay period ($2,080 annually). Proof of current coverage is necessary and can be emailed to hr@merchantsfleet.com
You may add a Domestic Partner to all dependent eligible benefits. Complete and return the Affidavit found on Merchants Central. See HR for Details. Note: Taxation does apply
There is a $19 surcharge bi-weekly for employee and/or spouse/DP tobacco use. This includes, but is not limited to cigarettes, cigars, vape & chewing tobacco. Merchants provides different options and assistance for smoking cessation. Please see the Wellness area of Merchants Central for more information
Merchants provides financial aid for eligible employees enrolled in the medical plan:
▪ For Single enrollment, employees earning less than $40,000 are eligible for $30/pay period towards premium*
▪ For Dual or Family Enrollment, employees earning less than $50,000 & are the primary wage earner are eligible for $60/pay period towards premium*
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Financial Aid Toward Medical Plan Premium
Health ReimbursementArrangement
PPO with Health Reimbursement Arrangement (HRA)
What is an HRA?
Merchants funds the account through HPI on your behalf
Once you’ve met your deductible responsibility, the HRA will pay the remaining balance
Claims are paid on your behalf. There’s no administration on your end
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deductible? Coverage Level for Medical Employee Deductible Responsibility HRA Deductible Responsibility Total Deductible Employee Only $1,000 $500 $1,500 Employee + Dependent(s) $2,000 $1,000 $3,000 * Employee responsibility occurs first, HRA responsibility occurs second 2024 Contributions Surgery Lab Work Scans & X-Ray Inpatient Stays Ambulance Service Employer Funded Automatic Administration Pays for Deductible Expenses
What services apply to your
Health SavingsAccount
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PPO with Health Savings Account (HSA) plan Highlights of an HSA: 1. Tax Free Contributions 2. Tax Free Interest 3. Tax Free on Eligible Purchases Merchants will contribute a guaranteed amount bi-weekly If you leave Merchants, the account remains accessible for you to use What can I use my Health Savings Account for? Medical Pharmacy Vision Dental First Aid & OTC Products Coverage Level for Medical Bi-Weekly Employer Contribution Maximum Employee Contribution Total Contribution Employee Only $19.23/Pay Period ($500 Annually) $3,650 $4,150 Employee + Dependent(s) $38.46/Pay Period ($1,000Annually) $7,300 $8,300 * Employees who are 55+ can contribute an additional $1,000 * Beneficiaries are recorded in UKG and can be updated anytime. 2024 Contribution Limits (Credit Card provided) Employer Contributions Triple Tax Advantaged Take it With You
Flexible SpendingAccounts
What is an FSA?
How does it work?
An account that uses pre-tax funds to pay for eligible expenses. You must have a valid mailing address to enroll - PO boxes are not eligible.
You will receive a debit card in the mail that will need to be activated and will be invited to create an online account here
Please review the below chart to find which
for you:
*Eligible dependents must be under the age of 13 for services such as day
and non-employer-sponsored before or after school
preschool, summer
. Tax dependents age 13 and older are also eligible if they are physically or mentally incapable of self-care and reside in the employee’s home at least half the
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Health FSA Limited Purpose FSA Dependent Care FSA Merchants Health Plan Election PPO w HRA Waived Medical PPO w HSA Only All Plans Eligible Expenses Medical, Pharmacy, Dental, Vision, and First Aid/OTC Products Dental & Vision Only Childcare & Eldercare* Maximum Annual Contribution $3,200 $3,200 $2,500/$5,000** Front-Loaded Balance Yes Yes No Carryover or Grace Period Use it or Lose it $640 Carryover Use it or Lose it $640 Carryover Use it or Lose it Grace Period Spend Down Date 12/31 of Plan Year 12/31 of Plan Year 3/15 following Plan Year
Which FSA is for me?
plan will work best
care,
year.
camps
programs
**2,500 for married people filing separately or $5,000 single taxpayers and married couples filing jointly.
DentalPlans
Merchants partners with Northeast Delta Dental to provide two PPO plan options with nationwide coverage.
To find a provider visit the Northeast Delta Dental Provider Search and choose either the PPO or Premier Network.
100% Coverage on Preventive Care
60% Coverage on Basic Services
50% Coverage on Basic Services
60% Coverage on Major Services
50% Coverage on Major Services
50% Coverage on Orthodontia
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Service Core Plan Ortho Plan
4 Cleanings per year
Benefit Maximum Per Participant $1,500 $1,500 Orthodontia Maximum Per Participant (Child & Adult Coverage) $2,000 Bi- Weekly Contributions Core Plan Ortho Plan Employee Merchants Employee Merchants Employee $5.95 $13.19 $8.58 $13.19 Employee + 1 $10.22 $25.41 $15.27 $25.40 Employee + 2 or more $16.43 $44.21 $28.56 $44.21
Page 12 Vision Benefits Available every 2 years $120 or 80% over $120 $135 annually Can be used alongside frame benefit Eye Exams Contact Lens Allowance Frame Allowance $10 Copay; Offered annually with or without dilation Up to 40% off exams and aids Hearing Exams & HearingAids www.eyemed.com 866-723-0596 Find a Local Provider Bi-Weekly Premium Employee Only $3.08 Employee +1 $5.83 Employee +2 or more $8.57 Merchants partners with EyeMed to provide voluntary, employee paid Vision benefits. Vision exams are covered once every two years on the HPI Medical Plan. EyeMed helps by providing coverage for glasses and contacts along with other services.
Life Insurance & Disability
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Basic Life & AD/D Insurance • Life insurance policy equal to 1x your annual salary to a maximum of $150,000 • Coverage is updated annually to reflect W2 Gross earnings Company Paid Benefits Supplemental Life& AD/D Insurance ▪ You can elect 1x, 2x, or 3x, your salary in coverage ▪ Guaranteed issued amount is $100,000 ▪ Spousal coverage is up to $100,000 ▪ Guaranteed issue amount is $30,000 ▪ Child coverage is $10,000 Voluntary Benefits Beneficiaries Filing a Short-Term Claim To file a short-term claim, contact The Standard at 800-368-2859 *Please notify the Benefits Manager prior to starting a claim with the Standard Beneficiaries are recorded in our HRIS (UKG) and can be updated at anytime Short Term Disability ▪ Provides 66.67% of your bi-weekly pay (max. $4,000/wk.) ▪ Covers up to a 12 week leave of absence after completing the 7-day waiting period. Long Term Disability ▪ Provides 60% of your monthly pay (maximum $7,500/month) ▪ Payments begin after 13 weeks of disability ▪ Benefit reduction occurs when eligible for social security
EmployeeAssistance Program
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401k - 2024 Plan Details
Plan Administrator & Eligibility
▪ Provider: Fidelity Investments (www.401k.com)
▪ Available to Full-Time, Part-Time & Limited Employees
▪ Eligible to begin participating on Date of Hire
▪ Traditional Pre-Tax & Roth Post-Tax option available
Company Match & Vesting
▪ Merchants will make a 4.5% Employer Match when you contribute 6% or more Match Formula
▪ 100% of first 3% of your eligible contribution
▪ 50% of the next 3% of your eligible contribution
▪ 100% Vested Auto-Enrollment
▪ Employees are auto-enrolled after 30 days of employment at 6%
• Contributions apply to a Target Date Fund based on your age
▪ Changes to your contributions and investment options can be completed anytime using the NetBenefits App or Online Portal.
▪ New hires who have contributed to a different employer’s 401k during plan year must consider amount already contributed YTD to not exceed the annual IRS maximum
Loans
▪ One general loan can be active at a time
▪ Process your request through the NetBenefits portal
▪ You’re still able to contribute to 401(k) while loan is outstanding
▪ Hardship loans are available for specific circumstances ▪ See HR for assistance
your online access at www.401k.com
▪ Establish your contributions & investments
▪ Assign your Beneficiary(ies)
▪ Process a loan request
▪ Explore live & pre-recorded webinar series
Confidential 15
My NetBenefits App & Online Portal ▪
Set up
2024 Maximum
▪ 2024 IRS Maximum ▪ <50 years old:
▪
Contributions
$22,500
>50 years old: $30,000
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Mind Body Soul
Merchants refreshed and simplified its Wellness Program around three pillars: Mind, Body, and Soul.
This holistic approach recognizes the importance of the whole self and the different care we all need for our personal well-being. We are pleased to share our Mind, Body, and Soul resources and support with you.
Prioritizing and taking care of our mental well-being is essential for achieving overall wellness and a better quality of life. Explore our related benefits below:
• Behavioral Health through HPI
• EmployeeAssistance Program (EAP)
• Mental Health First Aid Training
• Financial Wellness Seminars
• MerchantsiQ
Physical fitness is essential for good health, disease prevention, and optimal physical performance. Learn about our related benefits below:
• 360 Wellness
• Nutrition in Motion No-Cost Nutrition Counseling
• Onsite Gym, Basketball Courts, and Pickleball Courts
• Preventative Care Incentive = 50 Points
• HealthyActivity Incentive = 150 Points
Nurturing the soul is important for achieving inner peace, purpose, and a sense of fulfillment in life. Explore our related benefits below:
• Ambassadors & Allies
• Employee Resource Groups
• World Kitchen
• Merchants Gardens
• DE&I Virtual Events
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360 Wellness
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Holiday Schedule
Holidays 2024 Fleet & Corporate Holiday Schedule
The following paid holidays will be granted to all eligible employees
▪ Eligible full-time employees who are entitled to holiday pay are those who:
▪ Worked the day before and after the scheduled Holiday, unless PTO was approved prior to the holiday by your manager
▪ Employees who are scheduled for work on a holiday and fail to report for and perform the day’s work, shall not receive holiday pay.
▪ Holiday pay of eight (8) hours will be calculated at the employee’s current hourly rate.
▪ Due to the nature of the automotive business, management reserves the right to alter this holiday schedule as it deems necessary to accommodate the public.
Date Holiday Key Notables
Monday, January 1st New Year’s Day
Monday, May 27th Memorial Day
Wednesday, June 19th Juneteenth
Thursday, July 4th Independence Day
Monday, September 2nd Labor Day
Thursday, November 28th Thanksgiving Day
Friday, November 29th Post-Thanksgiving Day
Tuesday, December 25th Christmas Eve
Wednesday, December 26th Christmas Day
Early Office Close at 3pm on Wednesday, July 3rd.
Early Office Close at 3PM on Wednesday, November 27th
FLOATING HOLIDAYS (2) To be taken as an additional holiday and needs to be approved prior to using the time. Floating holiday may be used by an employee as requested subject to approval by their manager. Employees must be employed prior to October 1st of the current calendar year to receive a floating holiday.
Please Note: You must receive manager approval to use your Floating Holiday and any additional PTO days in advance. Thank you!
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Holiday Schedule
Holidays
2024 Auto & RDFS
Holiday Schedule
The following paid holidays will be granted to all eligible employees
▪ Eligible full-time employees who are entitled to holiday pay are those who:
▪ Worked the day before and after the scheduled Holiday, unless PTO was approved prior to the holiday by your manager
▪ Employees who are scheduled for work on a holiday and fail to report for and perform the day’s work, shall not receive holiday pay.
▪ Holiday pay of eight (8) hours will be calculated at the employee’s current hourly rate.
▪ Due to the nature of the automotive business, management reserves the right to alter this holiday schedule as it deems necessary to accommodate the public.
Notables
Monday, January 1st New Year’s Day Retail division open 10-4 on 12/31
Sunday, March 31st Easter Sunday
Monday, May 27th Memorial Day
Wednesday, June 19th Juneteenth
Tuesday, July 4th
Monday, September 2nd
Thursday, November 28th
Friday, November 29th
Monday, December 24th
Tuesday, December 25th Christmas Day
FLOATING HOLIDAYS (2)
– Not a paid holiday
division open 10-4
To be taken as an additional holiday and needs to be approved prior to using the time. Floating holiday may be used by an employee as requested subject to approval by their manager. Employees must be employed prior to October 1st of the current calendar year to receive a floating holiday.
Please Note: You must receive manager approval to use your Floating Holiday and any additional PTO days in advance. Thank you!
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Key
Date Holiday
Closed
Retail
Retail
hours
division open regular
Independence
Closed
Labor
Retail division
Day
Day
open 10-4
Day Closed
Thanksgiving
Post-Thanksgiving
Retail division
hours
Day
open regular
Eve Closed
Christmas
Closed
Required Notices
Information regarding these notices may be found on Merchants Central in the Benefits folder or by contacting Human Resources at hr@merchantsfleet.com
▪ COBRA Information
▪ HIPAA Information
▪ Medicare Part D
▪ CHIPRA Information
▪ Affordable Care Act (ACA)
Important Note:
▪ Summary Plan Document
▪ Newborns and Mothers Health Protection Act Notice
▪ Women’s Health & Cancer Rights Act of 1998 (WHCRA)
▪ Summary of Benefits Coverage (SBC)
▪ Summary Annual Report
The material enclosed is for informational purposes only and is neither an offer of coverage or medical or legal advice. It contains only a partial description of the plan or program and does not constitute a contract. Please refer to the Summary Plan Description (SPD) for complete plan details. In case of a conflict between your plan documents and this information, the plan documents will always govern.
Annual Notices:
ERISA and various other state and Federal law requires that employers provide disclosures and annual notices to their plan participants. The company distributes all required notices electronically annually.
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