SRS Medical currently provides the following insurance plans to full-time employees, who have successfully completed the first ninety (90) days of employment. You will be eligible to begin participation based on your start date with us.

MEDICAL INSURANCE

Comprehensive medical insurance is offered through Blue Cross Blue Shield. An HMO plan is offered to employees residing in New England which requires the selection of a primary care physician in the BCBS Healthcare network. A PPO plan is offered to employees who live outside of New England, providing greater flexibility in choice of physicians. Required employee contributions are 15% of premium cost.

HEALTH REIMBURSEMENT ACCOUNT (HRA)

SRS Medical provides a Health Reimbursement Account (HRA) for medical deductibles for participants in our medical plan. The employee must pay the first $500 of the individual/family medical deductible. SRS Medical will pay 50% of the $1,000 once the employee has paid the first $500 of the individual/family medical deductible, SRS Medical will pay for the remainder of the deductible; $1,500 for an individual, $3,500 for an individual plus one or family.

DENTAL REIMBURSEMENT ACCOUNT (HRA)

SRS Medical provides a Reimbursement Account (HRA) for all dental expenses for participants in our medical plan. SRS will pay dental expenses up to $750 for an individual, $1,500 for an individual plus one, and $2,000 for a family under the Dental HRA.

FLEXIBLE SPENDING ACCOUNTS

To help employees reduce their taxes and their costs for certain health and dependent care expenses, SRS offers two flexible spending accounts, or FSAs: the Health Care FSA and the Dependent Care FSA. Both allow employees the ability to set aside money from earned income before taxes are calculated and then use that money to reimburse themselves for eligible health care and/or dependent care expenses.

LIFE AND ACCIDENTAL DEATH & DISMEMBERMENT INSURANCE

SRS offers three Life Insurance plans that help provide important financial protection for employees and their families:

Basic Life Insurance – this plan provides a basic level of life insurance coverage for all benefits eligible employees. Employees are automatically covered and the total cost is paid by SRS.

Accidental Death and Dismemberment Insurance – this plan provides coverage in the event an employee dies or is severely injured in an accident. This coverage is also automatic with SRS paying the total cost.

Optional and Dependent Life Insurance – employees can add to the Basic Life Insurance coverage by purchasing Optional Life Insurance for themselves and Dependent Life Insurance for their spouses and dependent children.

SHORT- AND LONG-TERM DISABILITY INSURANCE

SRS offers disability insurance that can provide financial protection in the event an illness or injury keeps an employee from working. The disability program includes the Short-Term Disability Plan and the Long-Term Disability Plan. Together, these plans can replace a portion of an employee’s regular income. Employees pay the cost of this coverage to assure a tax free benefit and SRS increases employees pay to concurrently offset the cost of coverage.

SECTION 125 – PRE-TAX PREMIUM PAYMENTS

Through our Section 125 plan, employee premium contributions for the medical plan and the medical FSA can be payroll deducted on a pre-tax basis.

401K RETIREMENT SAVINGS

A 401k retirement savings plan is offered to our employees, which permits both traditional pre-tax as well as after-tax Roth contributions. Employees can begin participating in the plan as of the completion of the first 90 days of employment, and may defer 1 to 50% of their pay, up to IRS limits established each year. Eligibility to participate in this plan is available to all employees, whether part or full-time.