Benefits

Competitive Benefits You Can Customize

Raleigh Orthopaedic offers its eligible employees a comprehensive benefit program that you would expect from an industry leader – benefits you can customize to meet your own unique needs.  You and your family deserve the most thoughtful protection against illness, injury and financial insecurity that Raleigh Orthopaedic is able to provide.  This summary provides a brief outline of the benefits our Practice makes available to its employees.

Employees of Raleigh Orthopaedic, whose work week is at least thirty (30) hours per week, are eligible for benefits the first day of the month following thirty days of employment.

Disclosure Information

You will receive additional information about our benefits and details concerning enrollment when you join Raleigh Orthopaedic.

This benefits summary provides highlights of Raleigh Orthopaedic’s benefit programs.  This is not a summary plan description or a plan document for any of our benefit programs.  If there is any conflict between this benefits summary and the official plan documents, the official plan documents will govern.  This benefits summary does not constitute an employment contract.  An offer of employment is at the will of the Practice.

Should you have any questions or require further information, after reviewing the attached information, please contact Human Resources at Raleigh Orthopaedic, 3001 Edwards Mill Road #200, Raleigh, NC 27612.

Raleigh Orthopaedic is an “Equal Opportunity Employer”, providing equal opportunity for employment and advancement without regard to race, religion, color, sex, age, disability, national origin, marital status, Vietnam-era veteran status, sexual orientation or citizenship.

Group Medical Insurance Plans

Medical Plan

Raleigh Orthopaedic provides our eligible employees, two different group medical plans to choose from which are administered by BlueCross BlueShield of North Carolina (BCBS/NC).  Both plans are “open access” plans, which means that you do not need to select a primary care doctor nor will you need a referral to visit a specialist.  As long as you remain in the network, your benefits will be covered at the higher in-network benefit amount.  Out-of-network benefits are available; however, you will be subject to higher out-of-pocket costs.

HSA High Deductible Healthcare Plan

The first medical plan option is a Health Savings Account (HSA) High Deductible Health Plan (HDHP) with a $2,000 Individual Deductible and $4,000 Family Deductible.  Raleigh Orthopaedic contributes up to $500 to HSA accounts for employees enrolled in Employee Only coverage and up to $1,000 for employees enrolled who cover dependents.  Raleigh Orthopaedic subsidizes the premium costs for the employee and their dependents.  Once the deductible is met, the plan pays at 80% until the maximum out-of-pocket is met which is $4,000 for Employee Only coverage and $8,000 for Employee and Dependent coverage.  The employee pays fixed co-pay for prescription drugs.  Preventive care is covered at 100% with no deductible applied. Preventive Care includes Well-Child Care (Age 2 and under), immunizations, and the first service each benefit period for annual routine examinations, Pap Smears, Mammograms, PSAs and other specified screening tests.  Benefit premiums are deducted at pre-tax value. There is a Wellness and Non-Wellness plan option.  Premiums are increased for the Non-Wellness option.

Blue 1-2-3 – PPO Plan

The second medical plan option is an “Open Access” PPO with a $1,500 Individual Deductible and a $3,000 Family Deductible.  ROC subsidizes the premium costs for the employee and their dependents.   Once the deductible is met, the plan pays at 80% until the maximum out-of-pocket is met which is $4,500 for Employee Only coverage and $9,000 for Employee and Dependent coverage.  Primary Care visits are covered under $25 co-pay.  Family Care, OB-GYN, Internal Medicine and Pediatrics are considered to be Primary Care Providers.  Specialist Care visits are covered under $50 co-pay. Benefit premiums are deducted at pre-tax value.  There is a Wellness and Non-Wellness plan option.  Premiums are increased for the Non-Wellness option.

Group Dental Insurance

Raleigh Orthopaedic offers its eligible employees a voluntary dual option group dental plan through Ameritas.  Both plans are designed to encourage preventative dental care, which if utilized, can help to prevent dental disease and more costly treatment.  The premiums are subsidized at 50% of the monthly premiums by Raleigh Orthopaedic.  Benefit premiums are deducted at pre-tax value.

Group Term Life

Raleigh Orthopaedic will provide its eligible employees with group term life insurance underwritten by Lincoln Financial.  All employee premiums for this coverage are fully paid by the Practice.  Dependent coverage is optional.

Long Term Disability

Raleigh Orthopaedic will provide Group Long Term Disability insurance from Lincoln Financial for the financial protection for insured members by providing a monthly benefit in the event of a covered disability.  The cost of this insurance is paid by Raleigh Orthopaedic for employees with 5 or more years of employment, actively working at least 30 hours each week.  Employees with less than 5 years of employment can elect this benefit on a voluntary basis and premiums will be payroll deducted.

Supplement Term Life Insurance

Raleigh Orthopaedic realizes that the amount of term life insurance that it provides eligible employees may not be enough to meet your individual needs.  For this reason, Raleigh Orthopaedic makes available the option for employees to voluntarily purchase additional term life insurance for themselves and their dependents through Lincoln Financial.  This coverage is made available at very low group rates with no medical underwriting if you enroll when you are first eligible.  Premiums for this additional coverage may be conveniently payroll deducted.

Colonial Life – Supplemental Income Plans

Raleigh Orthopaedic also offers its eligible employees, on a voluntary basis, supplemental income plans through Colonial Life.  There are several plans ( Accident, Critical Care and Short Term Disability) available to give the employee the opportunity to supplement his or her current insurance benefits for peace of mind.  The premiums of any supplemental insurance plans are the responsibility of the employee and can be conveniently payroll deducted.

Flexible Spending Accounts

Flexible Spending Accounts (FSA), allowed by the IRS under section 125 of the IRS Code, permit you to increase your benefits by paying for certain services with pre-tax dollars and to make your premium contributions for certain benefit plans on a pre-tax basis, thus increasing the purchasing power of your salary.

You contribute to your FSA by agreeing to have a certain amount of salary withheld before taxes and deposited into your FSA.  There are two types of Flexible Spending Accounts: 1) Medical/Dental/Vision Care FSA which can be used to reimburse yourself for certain out-of-pocket medical, dental, and vision expenses. You chose the amount to be deducted from each paycheck; and 2) Dependent Care Account which can be used to reimburse yourself during the plan year for the care of a child or disabled adult while you (and your spouse, if married) are working.

Vision Insurance

Raleigh Orthopaedic offers you the option to purchase voluntary vision coverage through Superior Vision including a vision exam and hardware (lens, frames and contacts.)

Legal Shield

Personal Legal and ID Theft protection and restoration benefits.  Individual and Family plans offered.

529 College Savings Plan and Individual Financial Planning

Raleigh Orthopaedic understands that saving for higher education can be a daunting task.  The average cost of a four-year college education at a state college today is approximately $49,000.  A private college runs more than $107,000.  In 20 years, those numbers are projected to be almost $118,000 and $260,000 respectively.  The challenge to meet these savings needs can be overwhelming.  It requires careful planning a high level of commitment.  In fact, next to retirement planning, it can be the single largest expense that your family will bear.  As parents or grandparents, you may want to be able to provide the benefit of a higher education to your children or grandchildren.  Or, you may be saving to continue your own higher education.  That is why Raleigh Orthopaedic is pleased to offer you a flexible, tax-advantaged 529 college savings program, administered by College Foundation of North Carolina, which can be conveniently funded post-tax with Direct Deposit contributions.

Retirement Plan (Profit Sharing/401k)

Retirement and financial independence are goals most people would like to achieve.  Raleigh Orthopaedic’s 401(k) Profit Sharing Plan can help provide you with income during your retirement.

All employees, employed for one year and have worked at least one thousand (1,000) hours are eligible to be included under the plan.  The date of employee eligibility for participating in this plan is January 1 or July 1, one year following the date of hire.  Employees will be informed as to their eligibility and the necessary application forms and beneficiary designations will be made at that time.  Employees also have the option of deferring funds on an after-tax basis into a Roth IRA.

One of the “hidden benefits” of saving through a 401(k) is that you can actually reduce your taxes.  You determine how much money per month you want to save toward your retirement goals.  That amount of money is then automatically deducted from your gross income (at pre-tax dollars) and deposited into your 401(k) account where it is invested according to your preferences.

Employer Retirement Contributions

Match – The Plan provides for discretionary matching contributions in an amount to be determined.

Profit Sharing – Your employer may make profit sharing contributions at its discretion, which will be allocated amongst all eligible employees, whether or not they make contributions.

Safe Harbor – Your employer may also make a safe harbor non-elective contribution in an amount up to 3% of your eligible pay, which will be allocated to all eligible employees.

Holidays

Raleigh Orthopaedic (usually) designates seven (7) holidays each year when the Clinic will be closed.  The holidays are: New Year’s Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Christmas Day.

Paid Time Off (PTO)

Paid Time Off is provided for all full-time and part-time employees of Raleigh Orthopaedic.  Paid Time Off hours (or PTO) are earned by full-time employees based on their 40-hour workweek and length of service at the practice.  Part-time employees earn PTOs in the same fashion, but on a prorated basis.  PTO is used for any time away from work, including vacations, illness, holidays, inclement weather, personal business, family emergencies, and for family and medical leaves.

Direct Deposit

Your bi-weekly paychecks are direct deposited for you into your checking and/or savings accounts.  This benefit saves you the trouble of going to the bank to deposit your paycheck.

Member of Coastal Federal Credit Union

Employees of Raleigh Orthopaedic and the employee’s immediate family members are eligible for membership in Coastal Federal Credit Union with the ability to use all Coastal FCU’s services and benefits.  Once you become a member, you can remain a member for life regardless of where you may move and regardless of any changes in your employment (as long as you are a member in good standing).

Other Amenities

• Kitchens, at all office locations, are equipped with filtered water, refrigerators/freezers, ice machines and free coffee.
• Locations also have snack machines and beverage machines.
• U.S. Postage Stamps available for purchase.
• Dry Cleaning Pickup and Delivery Service.
• Discounted movie tickets to major theaters, i.e. United Artists/Regal theatres.
• Additional discounts available to local establishments, i.e. Dell Computers, AT&T and local Raleigh businesses.