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Cafeteria Plan
Phoenix Group pays a flex credit per pay period to use towards the cost of optional benefits. Eligible employees can select benefits
from the following available optional benefits in order to define a benefits package that best suits their needs. If the employee
does not use the entire amount towards benefits, the balance is paid to the employee as taxable income.
Medical and Dental Insurance
Phoenix Group offers regular full-time employees a comprehensive basic and major medical insurance plan with prescription drug card,
and a dental insurance plan. Plan details are reviewed with the employee by Human Resources during the orientation process and
through plan summaries and booklets distributed in the benefits package. New employees must apply for coverage within the enrollment
period (31 days from date of hire). New employees will be eligible for coverage the 1st of the month following their date of hire.
Eligible employees may elect dependent coverage for their spouse and unmarried children from birth to age 19, or up to age 24
provided that the child is unmarried and a full-time student. Employees may elect coverage for newly eligible dependents (such as
spouse following marriage or child following birth or adoption) within 31 days from the date of eligibility without having to
provide medical evidence of insurability.
Voluntary Life Insurance
The Voluntary Group Life Insurance Plan offers employees and their dependents an excellent opportunity to purchase affordable group term life insurance.
The important plan features are high limits, guaranteed acceptance, and conversion and portability rights.
Medical Reimbursement Flexible Spending Account
The Medical Reimbursement Flexible Spending Account allows regular full-time employees to save money by setting aside pre-tax dollars
to pay for eligible, uninsured medical or dental expenses. This account may be used to reimburse the employee and their eligible dependents for
out-of-pocket expenses.
Dependent Care Reimbursement Flexible Spending Account
The Dependent Care Reimbursement Flexible Spending Account allows regular full-time employees to submit day-care expenses for
eligible children and/or other dependents.
Private Insurance Reimbursement Flexible Spending Account
The Private Insurance Reimbursement Flexible Spending Account allows regular full-time employees to set aside the cost of premiums
with a private insurance company on a pre-tax basis.
Tricare Supplement Insurance
In addition to the fringe benefits listed above, but not included in elections that can be paid with the company flex credit, is
Tricare Supplement Insurance. This supplement is a military health benefit for employees who are military retired.
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