2025 EMPLOYEE BENEFITS GUIDE
WHO IS ELIGIBLE? FAMILY ELIGIBILITY
You are eligible for benefits under the Employee Benefit Plan if you are a full-time employee of SBP. You are considered full-time if you work a minimum of 30 hours per week. Eligible employees may participate in the benefit plans effective the 1st of the month following 30 days of employment.
Employees must be actively employed and meet other eligibility requirements to be eligible for the SBP Benefit Plans. Medical, Dental, Vision, and Life Insurance (including AD&D) coverage is also available for eligible family members.
Here are the family members who are eligible for coverage:
Your Spouse Must be your legal spouse for federal tax purposes including state recognized common-law spouses and same gender spouses.
Your Children
Including:
• Biological, adopted and step children
• Disabled children dependent on you for support
• Children for whom you have legal custody or that you are required to cover under a Qualified Medical Child Support Order
GENERAL INFORMATION
Children must be dependents for whom you have legal custody and:
• Under age 26 for Medical, Dental, Vision and Child Life
• A disabled child of any age
Your Domestic Partner Must submit an Affidavit of Domestic Partnership and a Declaration of Tax Status. If your domestic partner does not meet the IRS definition of an eligible dependent, additional contributions for his/her coverage will be taken after-tax. The Company’s portion of the cost is also considered taxable income and will be included on your W-2.
MAKING CHANGES ENROLLMENT DEADLINES
You have an opportunity to elect your health and welfare coverage as a new hire and during the annual enrollment period, typically in the fall each year. Remember — you cannot make changes until next year’s annual open enrollment period unless you experience a qualified life status change. Enrollment or changes in your 401(k) Retirement Plan can be made at any time.
There are two occasions in which employees may enroll in benefits or change their current benefits.
Open Enrollment Season
Open Enrollment refers to the period during which you can enroll in a benefits plan. During this process, you will review information for you and your family, shop for available benefits, select benefit plans, and review and confirm benefit plan selections.
Qualifying Life Events
Employees can only make mid-year changes to benefit elections outside of Open Enrollment if they experience a Qualifying Life Event, such as a marriage, divorce, or welcoming a new child through birth, adoption, or by gaining custody.
In both instances, you will review information for your family, shop for available benefits, select benefit plans and review and confirm benefit plan selections.
QUALIFYING LIFE EVENTS
Below is a list of qualifying life events that allow you to make changes to your your Medical, Dental, Vision, Life Insurance or Flexible Spending Account elections during the current enrollment year:
• A change in legal marital status (marriage, divorce or legal separation)
• You are not permitted to keep a former spouse on your coverage. After a divorce a former spouse is no longer an eligible dependent.
• A change in the number of dependents (birth/adoption or placement of adoption of a child, dependent satisfies or ceases to satisfy eligibility requirements)
• A change in employment status (for you, your spouse or your dependent that affects healthcare coverage, e.g. if your spouse loses coverage elsewhere)
Changes to your benefit election must be consistent with your qualified life event, e.g. you are covered under your spouse’s medical plan but your spouse loses coverage so you wish to enroll for coverage for you and your spouse and eligible dependents. To make benefit election changes, access your UKG profile and submit a Life Status Change event within 31 days of the qualified life event. Once approved, coverage retroactive to the date of your qualified life event.
MEDICAL PLAN & BENEFITS
Luminare Health is one of the nation’s largest independent health benefits administrators, serving over 1 million members. We’ve been providing benefits to our members for more than half a century and continuously strive to deliver personal service and enhanced member experience.
Luminare is the administrator for your health benefits plan, managing all administrative aspects including claim processing, fee negotiation and eligibility. They work with a variety of PPO networks, such as Cigna and Aetna, to offer access to discounted provider services and get you the medical care you need. Luminare Health also offers wellness and advocacy programs that help you manage your health, identify cost savings and navigate the healthcare system.
MEDICAL PLANS
Each person's healthcare needs are different, that's why SBP offers multiple plan options for different seasons of life and needs. The chart below shows a side by side comparison of our plan differences and the links below can be used to learn more about each plan & the resources that come with them.
Medical Plan Rate Chart
Prescription Coverage
If you’re enrolled in one of SBP’s Medical Plans, you automatically have prescription drug coverage through CVS Caremark.
Check out CVS Caremark’s mobile app today to learn more about what drugs are in our formulary (list of covered prescriptions) and how you can sign up for mail delivery on your prescriptions.