Voluntary Benefits
SUPPLEMENTAL LIFE AND AD&D INSURANCE
Americhem provides you the option to purchase supplemental life and AD&D insurance for yourself, your spouse, and your dependent children through Reliance Standard.
You must purchase supplemental coverage for yourself in order to purchase coverage for your spouse and/ or dependents. Supplemental life rates are age-banded. Benefits will reduce to 60% at age 70, 40% at age 75, and to 30% at age 80. Once benefits reduce, you will not be eligible to increase the covered amount by increments or salary changes. ◦ Employee: $10,000 increments up to $500,000 or 5x annual salary, whichever is less; guarantee issue: $150,000 ◦ Spouse: $5,000 increments up to $500,000 or 100% of the employee’s election, whichever is less; guarantee issue: $40,000 ◦ Dependent children: Birth to 6 months: $1,000; 6 months to age 20 (or 26 if full-time student): $2,000 increments up to $10,000; guarantee issue: all amounts
SUPPLEMENTAL LIFE AND AD&D INSURANCE COSTS
Listed below are the monthly rates for supplemental life and AD&D insurance. The amount you pay for supplemental life and AD&D insurance is deducted from your paycheck on a post-tax basis. Spouse life rates are based on the employee’s age.
CRITICAL ILLNESS INSURANCE
Americhem provides you the option to purchase group critical illness insurance through Reliance Standard.
Critical illness insurance pays you a lump-sum benefit at the first diagnosis of a covered illness. It can be used any way you choose for the expenses health insurance doesn’t cover.
You can elect coverage for yourself ($10,000 or $20,000), your spouse (up to 100% of employee's election), and dependent child(ren) (50% of employee's election). Please refer to the official plan documents for a full list of covered conditions and costs.
Example of covered conditions include:
- Heart attack
- Major organ failure
- Blindness
- End-stage renal failure
- Benign brain tumor
- Cancer
The critical illness plan also provides a $50 wellness benefit, per insured, per calendar year, for completing a wellness test.
Note: Pre-existing condition limitations may apply.
HOSPITAL INDEMNITY INSURANCE
Americhem provides you the option to purchase hospital indemnity insurance through Reliance Standard.
This benefit provides a lump-sum amount due to a hospitalization up to $1,500 per insured per year. You can elect coverage for yourself, your spouse and dependent child(ren). Please refer to the official plan documents for a full list of covered conditions and costs.
The hospital indemnity plan includes a hospital admission benefit.
Coverage is generally effective the first of the month following the enrollment process, including the new hire waiting period, which may take two to three weeks. Please refer to the official plan documents for rates and a full list of covered injuries and expenses.
Note: Pre-existing condition limitations may apply.
Resources
Open Enrollment Has Ended. If You Are A New Hire, Follow The Instructions Below To Enroll:
To enroll in benefits, log into workforcenow.adp.com/public/index.htm . Once logged into the portal, you will be automatically directed to the new hire enrollment wizard. You must complete the enrollment process regardless of whether you are electing or waiving coverage. Coverage begins and ends based on the plan rules.