- Providing world class service and value for employee benefit group plans since 1987
Are you an employee in Providence, RI, or are you considering a job opportunity in this beautiful city? If so, understanding your employee benefits package is crucial for you and your family’s well-being. Navigating the world of employee benefits can be overwhelming, but fret not. This comprehensive guide will help you unlock the best packages and equip you with the knowledge to make informed decisions about your benefits, from health coverage to retirement plans.
In this blog post, we will dive deep into the various aspects of staff benefit packages, with respect to benefits such as health, dental, and vision coverage, retirement plans, flexible spending accounts, and additional benefits like life insurance and identity protection programs. By the end of page one of this journey page, you will have a solid grasp of the team benefit landscape in Rhode Island and be better prepared to make the most of these valuable resources.
As an employee in Providence, RI, you have access to a wide array of benefits designed to support you and your family’s well-being. These benefits encompass hospital care, surgical/medical benefits, and even accidental death coverage. Getting acquainted with the various options available and understanding their cohesive functionality to provide comprehensive protection is vital.
Health, dental, and vision coverage form the cornerstone of any employee benefit package. In Rhode Island, these benefits are typically provided by well-established carriers like Blue Cross Blue Shield, Delta Dental, and the Vision Service Plan, ensuring that you receive high-quality care and services. We’ll unravel the specifics of each type of coverage.
When it comes to health coverage, Blue Cross Blue Shield of Rhode Island is the primary provider for active workers in Providence. They offer a range of health coverage plans, such as medical and dental care for individuals and families, Medicare options, and telehealth services. Comparing the health coverage provided by Blue Cross Blue Shield of Rhode Island with other insurance providers in the state like Neighborhood Health Plan of Rhode Island, UnitedHealthcare Insurance Company, and Cigna Health and Life Insurance Company, can help you make the most suitable decision for your family.
The State of Rhode Island offers eligible active workers three medical plans – Anchor, Anchor Plus, and Anchor Choice with HSA, all administered by Blue Cross Blue Shield of Rhode Island. These solutions come with various advantages, such as medical benefits, telehealth capability, wellness incentives and rewards, and access to a vast network of healthcare providers. For precise cost information, it’s recommended to get in touch with Blue Cross Blue Shield of Rhode Island directly.
Dental health is an essential aspect of overall well-being, and workers in Providence, RI, have access to comprehensive dental benefits through Delta Dental. The Delta Dental PPO Plus Premier™ plan is offered in Rhode Island, providing team members with several dental coverage options: Anchor Dental, Anchor Dental Plus, and Anchor Dental Platinum. These options cover preventive care, basic restorative procedures, and major restorative procedures without the need for pre-approval.
Choosing a dentist within the participating network and submitting your claims to Delta Dental of Rhode Island is key to maximizing your dental benefits. By choosing a participating dentist, you can maximize your coverage and ensure that your claims are processed promptly.
Vision benefits are also available for workers through Davis Vision. These benefits include:
Keep in mind, Davis Vision provides complete in-network coverage for vision services in Providence, RI. Unfortunately, there is no coverage for services performed at an out-of-network provider. However, members may be eligible for partial reimbursement for out-of-network services by filing a claim. The out-of-network reimbursement amount varies depending on the service.
Strategizing for retirement is a pivotal aspect of long-term financial stability. Employees in Providence, RI, have access to various retirement plans and savings options, and resources such as:
Understanding the cost of these options and how they can help you achieve your retirement goals is essential.
Eligibility for different retirement plans may vary based on your employment status and the specific solution offered by your employer. Maximizing your retirement savings requires a clear understanding of the eligibility criteria and the various options available. We’ll delve deeper into these retirement plans.
The Rhode Island Employees’ Retirement System (ERSRI) is a contributory defined benefit and defined contribution retirement system that provides retirement, disability, and survivor benefits to public workers in Rhode Island. Eligibility for various retirement plans may depend on your employment status and the specific eligible for plan offered by your employer. Those eligible may include:
To be eligible to participate in the ERSRI, you must meet the minimum age and service credit criteria according to your schedule. For example, the minimum age for service retirement for class A workers who become members on or after July 1, 2009, is sixty-two (62) years of age. Having a clear grasp of these eligibility criteria can guide you towards more informed decisions regarding your retirement plans.
Employees in Providence, RI, have the option to participate in the RI Employees’ Retirement System (ERSRI) or contribute to the RIBGHE 403 (b) Defined Contribution Retirement Plan upon meeting the eligibility criteria. The ERSRI is a defined benefits that provides retirement, disability, and death benefits to eligible team members of the State of Rhode Island.
On the other hand, the RIBGHE 403 (b) Defined Contribution Retirement Plan is a retirement savings that enables workers to save for retirement in a tax-deferred manner. Additionally, there’s the 457(b) Deferred Compensation Retirement Plan, which is a tax-deferred plan for retirees that provides an additional opportunity to accumulate funds for retirement while reducing current tax liability.
Grasping the various retirement options available equips you to maximize your retirement savings and secure your financial future.
Flexible Spending Accounts (FSA), also known as flexible spending account, are two forms of a valuable staff benefit that allows you to allocate pre-tax dollars for eligible healthcare benefits, dependent daycare, and transit expenses. FSAs can help you save money on taxes while ensuring that you have funds available for necessary expenses.
In Providence, RI, the available Flexible Spending Accounts (FSA) are Health Care FSA and Dependent Care FSA. We’ll examine FSA access, enrollment and administration more closely.
To enroll in an FSA in Providence, RI, you must re-elect it annually or enroll during the open enrollment period. Detailed instructions and links on how to enroll can be found on the visit the Enrollment page of the employee benefits office’ website. The FSA program is administered by ASI Flex, a company responsible for overseeing and administering flexible spending accounts.
Staying updated about the enrollment deadlines and procedures is crucial to leveraging this valuable benefit. Keep in mind that if you miss a date to enroll, during the open enrollment period, you may not be able to enroll in an FSA until the next open enrollment period, unless you experience a qualifying life event.
For the 2021-2022 plan and calendar year only, the deadline to submit FSA claims forms is June 30, 2022. To submit FSA claims in Providence, RI, you may manually submit a paper FSA Claim Form via fax or mail to contact ASIFlex. Alternatively, you can submit FSA claims forms online through the contact ASIFlex website (www.asiflex.com) or by using the ASIFlex mobile app.
When submitting an FSA claim, you may be required to provide some proof of documentation such as receipts or paperwork to validate the expenses. Being organized and tracking your eligible expenses is key to contribute to a smooth claims’ submission process. Remember to submit your claims by the date of the deadline to maximize your FSA benefits.
In addition to access to basic health, dental, vision, retirement, and flexible spending benefits, active workers in Providence, RI, may also have access to other valuable benefits such as life insurance and identity protection plans. These additional benefits can provide peace of mind and financial security for you and your family.
We’ll delve deeper into these and other benefits, and other benefits.
Life insurance is an essential benefit that provides financial protection for your loved ones in the event of your death. In Providence, RI, Optional Life Insurance is available to Police, Fire, and Non-union workers (City and School Department). Active Police, Fire, and Non-Union workers of the City are covered for Basic Life & AD &D insurance. This coverage is provided at the City’s expense.
Team members can decide if they want to contribute to pay the life insurance coverage premiums on a pre-tax basis or not. The applicable rate per $1000 of life insurance coverage per pay period (biweekly) will remain as it is. Being aware of your life insurance options and choosing the appropriate coverage for your needs is paramount to your family’s financial security.
In today’s digital age, identity theft and privacy breaches are becoming increasingly common. Identity and privacy protection plans are designed to safeguard your sensitive personal information and provide assistance in the event of a security breach. In Providence, RI, leading identity and privacy protection plans include:
These solutions typically offer features such as services such as credit monitoring, identity theft insurance, and monitoring and removal of your personally identifiable and contact information from data brokers and other sources. Enrollment in an identity and privacy protection helps protect your personal contact information and secures your digital presence.
Open enrollment is an annual event that allows employees to:
Completing the enrollment process by the specified deadline is paramount to maintaining active coverage. If you miss the open enrollment period, note that you may not be able to enroll in benefits until the next open enrollment period unless you experience a qualifying life event, such as marriage, birth, or adoption of a child. Stay informed about open enrollment periods and procedures to make the most of your staff benefits.
Navigating the world of employee benefits can be complex, but you don’t have to do it alone. The human resources department is available to assist workers in Providence, RI, with their employment benefits, with services including:
They can provide guidance, answer questions, contact them, and other resources to help you understand your benefit options.
In addition to links to the support provided by the human resources department, team members in Providence, RI, have access to links to a variety of online resources to manage their benefits. These resources include links to resources for:
Feel free to visit your office or contact your office human resources department or use these online resources and links to optimize your office staff benefits.
Employee benefits don’t just affect the individual employee; they also have an impact on their spouse and family members. Coordination of Benefits for Spouses and Families is a policy that allows the spouse of workers to be reimbursed in their bi-weekly paycheck the amount that their spouse has been deducted from their paycheck. This can help ensure that both spouses are contributing to the cost of their spouse and family’s benefits.
To take advantage of this policy, team members must:
Comprehending the coordination of team benefits, for spouses and families enables you to optimize your staff benefits and ensure adequate coverage for your family.
In conclusion, understanding your staff benefits package in Providence, RI, is crucial for you and your family’s well-being. From health, dental, and vision coverage to retirement plans, flexible spending accounts, and additional benefits like life insurance and identity protection plans, there are numerous options available to help you and your family and loved ones stay protected and secure.
By educating yourself on the various benefits available, staying informed about enrollment periods and procedures, and utilizing the support and resources provided by your human resources office or department, you can make informed decisions about your benefits and ensure that you’re making the most of these valuable resources. Invest in your future and the future of your family by unlocking the best employee and family benefit packages.
Providence offers a comprehensive benefits package including group health insurance, paid time off, retirement savings plans, and wellness programs. This is designed to help team members maintain their physical and financial well-being.
Employee benefits packages typically include health care coverage, retirement benefits, and paid time off, as well as mandated benefits such as COBRA, FMLA, and minimum wage standards. Many states also require additional coverage for services like disability, workers comp, and extra leave.
The four basic major types of employee benefits are medical, insurance, paid time off and retirement. These are considered traditional staff benefits only, as well as a few non-traditional employee benefits, that can help to enhance company culture, increase team engagement and improve retention.
Employee benefits typically cost companies between $50 to $200 per month per employee, which amounts to an average monthly cost of benefits of $1,997.36 for civilian workers, $1,798.69 for private industry workers and $3,322.87 for state and local government workers.
Yes, Providence has a pension plan; they offer workers a 403(b) and 401(a), as well as a 457(b) plan. The College also provides defined contribution pensions, with contributions made by the College and all contributions immediately vested with the staff after two years of service. Additionally, the Retirement Office administers benefits for members of the Employee Retirement System on behalf of the City of Providence.
Todd Taylor oversees most of the marketing and client administration for the agency with help of an incredible team. Todd is a seasoned benefits insurance broker with over 35 years of industry experience. As the Founder and CEO of Taylor Benefits Insurance Agency, Inc., he provides strategic consultations and high-quality support to ensure his clients’ competitive position in the market.
Todd Taylor with Taylor Benefits gives our small business the kind of personal service we need. Insurance benefits are important to our employees and Todd helps us find a balance between benefits and value. Todd responds immediately to my phone calls & e-mails. He has even gotten in touch with me on a Sunday when we were in need of coverage answers immediately. We are very pleased with the hands-on service Todd and his staff provide.”
-Ken and Linda Orvick, Orvick Management Group, Inc.
We’re ready to help! Call today: 800-903-6066