Benefits Offered at Blood Systems
Blood Systems employees enjoy an outstanding benefits package. Benefits are available to employees based on employment status (full-time, part-time, occasional) and length of service.
Blood Systems offers eligible employees a consumer-driven health care benefit. Employees have two coverage options to choose from in most locations. Both require the use of a network provider. There are a few locations where a network is not available. Aberdeen and Mitchell, SD; Farmington, NM and the state of Wyoming have a silent network. Members in these areas are not required to use network providers, but if they do seek out and use a network provider they will receive services at a discounted rate.
With each option, the company contributes benefit dollars on behalf of the member to a Health Fund based on the coverage tier selected. The Health Fund covers 100% of medical and pharmacy expenses while dollars are available. Unused benefit dollars in the Health Fund at the end of the year up to a specified maximum will automatically roll over for use in the future. If annual expenses exceed the Health Fund, then the member will have some cost sharing, but is also protected by an out-of-pocket maximum.The plan pays 100% for preventive care services such as physicals, immunizations and health screenings with in-network providers.
All medical plan options include vision benefits. There is no deductible for vision benefits. Members may be reimbursed up to $150 per calendar year for contacts, frames, and lenses. Members receive one routine refractory eye exam as preventive. This exam is covered at 100% with no deductible.
Preventive and diagnostic expenses are covered at 100% of the usual and reasonable charge (URC) including cleanings two times per year. These preventive expenses do not apply to annual maximum or the deductible. The deductible for all other services is $50/person or $150/family. After the deductible, the plan pays 80% of the reasonable charge for basic services such as fillings and 50% for major restorative services such as bridges. All benefits (including preventive and diagnostic benefits) are paid up to a maximum of $1,500 per calendar year per covered person. There is a preferred network of dentists, but network providers are not required for benefits under the plan. Child orthodontia is covered up to 50% after the deductible and subject to a lifetime maximum of $1,000.
All employees, age 18 and older, are eligible to contribute from 0% to 100% of income up to the IRS annual limit to the 401(k) Plan. Contributions can be made pre-tax or after tax (also known as Roth contributions).
Employees will be automatically enrolled into the Plan on a pre-tax basis after three months of service. The automatic contribution percentage is 3% of eligible compensation.
BSI will make a matching contribution after three months of service. The matching contribution is an amount equal to 100% of the first 3% of a participant’s contributions, plus 50% of the next 2% of contributions. Individual contributions and employer matching contributions are 100% vested immediately.
In addition to the matching contribution, all eligible employees will receive a discretionary non-matching contribution. The amount of the non-matching contribution is 2-4 percent of eligible compensation, based on an age and service formula. You will receive this contribution even if you do not contribute to the 401(k) Plan. You will be 100% vested in the non-matching employer contributions after 3 years of service.
An employee with an existing qualified retirement account with a previous employer may transfer or roll over that account into the Plan upon becoming eligible to participate.
Transamerica Retirement Solutions: (800) 755-8501
Eligible senior management employees may elect to participant in this non-qualified deferred compensation plan. Contributions may range from 0% to 100% of pre-tax income up to the annual IRS limit. There is no company matching contribution. Since this is a non-qualified plan, contributions are subject to the general creditors of the company.
Eligible employees will accrue Paid Time Off (PTO) upon date of hire to cover absences from scheduled work hours including but not limited to the following: illness, medical appointments, approved personal business, vacation and operating unit designated floating holidays. Upon hire, employees will be eligible to receive up to 5.24 PTO hours every pay period. This award increases with length of service.
|Length of Service||PTO Hours Awarded
for Each Paid Hour
|Annual Max. Award*||Max. PTO Balance|
|< 3 years||0.0655||5.24||136||17||280||35|
|3 < 5 years||0.0770||6.16||160||20||280||35|
|5 < 7 years||0.0847||6.78||176||22||280||35|
|7 < 10 years||0.0962||7.70||200||25||280||35|
|10 < 15 years||0.1039||8.31||216||27||280||35|
Eligible employees in designated management (i.e. President, Vice President, Director) and certain medical and scientific positions (i.e. M.D., Ph.D.) will be eligible to accrue up to 6.16 PTO hours every pay period upon date of hire. This accrual increases with length of service.
|Length of Service||PTO Hours Awarded
for Each Paid Hour
|Annual Max. Award*||Max. PTO Balance|
|< 3 years||0.0770||6.16||160||20||280||35|
|3 < 5 years||0.0885||7.08||184||23||280||35|
|5 < 7 years||0.0962||7.70||200||25||280||35|
|7 < 10 years||0.1077||8.62||224||28||280||35|
|10 < 15 years||0.1155||9.24||240||30||280||35|
*Annual maximum is based on 2,080 paid hours in 26 consecutive pay periods.
Eligible employees receive six basic paid holidays per year upon hire: New Year’s Day, Memorial Day, July 4th, Labor Day, Thanksgiving Day, and Christmas Day. Local management may select a day to be observed by all staff as a Designated Floating Holiday in addition to the six basic holidays. If management elects such a day, employees are required to use PTO to cover this day.
BASIC LIFE INSURANCE & ACCIDENTAL DEATH & DISMEMBERMENT (AD&D) COVERAGE:
Eligible employees are automatically enrolled in a company-paid basic life insurance plan after 90 days of employment. The death benefit is one times annual salary rounded up to the next highest $1,000. The accidental death benefit is an additional one times annual salary rounded. For other covered losses, the benefit is a percentage of salary based on the loss, not to exceed rounded salary.
OPTIONAL LIFE INSURANCE & ACCIDENTAL DEATH & DISMEMBERMENT (AD&D) COVERAGE:
Eligible employees may choose to purchase additional optional life insurance / AD&D at group rates in the amount of one, two or three times rounded salary. Combined amounts of Basic Life Insurance AD&D and Optional Life AD&D insurance may not exceed $1,000,000.
DEPENDENT LIFE INSURANCE:
Eligible employees may choose to purchase life insurance on a spouse or domestic partner in the amount of $10,000, $25,000 or $50,000 and/or on a child(ren) in the amount of $5,000, $10,000 or $15,000 per child.
BUSINESS TRAVEL ACCIDENT INSURANCE:
The company provides life insurance that pays a death benefit of $100,000 for death or dismemberment, which occurs while traveling on Blood Systems business ($500,000 for certain eligible positions).
Health Care FSA: Employees may sign up to have voluntary pre-tax contributions deducted from each paycheck for future reimbursement for eligible medical and dental expenses not covered by the health or dental plan such as deductible amounts or amounts above plan limits.
Dependent Care FSA: Employees may sign up to have voluntary pre-tax contributions deducted from each paycheck for future reimbursement for eligible dependent care expenses.
Eligible employees may apply for reimbursement of 100% of tuition and 50% of books up to a maximum of $2,500 per calendar year for part-time employees and $5,000 per calendar year for full-time employees.
CERTIFICATION & LICENSURE:
Eligible employees may apply for reimbursement of 100% of professional certification/licensure and special training up to a maximum of $2,500 per calendar year for part-time employees and $5,000 per calendar year for full-time employees.
The maximum benefit received for the Certification & Licensure Reimbursement Program and The Education Assistance Program is a combined maximum benefit per calendar year.
EXTENDED ILLNESS INCOME PROTECTION (EIIP):
Extended Illness Income Protection (EIIP) provides employees with income protection for absences from work due to non-work related personal illness or injury. Employees accrue EIIP hours based on the number of paid hours per pay period (maximum per pay period maximum is 3.70 hours). Any unused EIIP hours will roll over annually. The maximum EIIP accrual balance cannot exceed 560 hours.
LONG TERM DISABILITY:
Company paid insurance provides 60% of base wages in the event of a medically certified illness or injury, which is expected to result in a long-term disability per the plan. This policy does not cover "pre-existing" conditions for which treatment has been received in the 3 months prior to effective date or which begins in the first 12 months of coverage.
Expert information, resources, and referrals to assist employees and family members with the issues that matter most, from personal or family concerns to legal and financial concerns. Services are provided at no cost and are completely confidential. Employees and family members are eligible for nine consultations per event per year.
Liberty Mutual offers a group discount on already competitive auto and home insurance rates. In addition, Liberty Mutual offers Blood Systems employees convenient services such as premium payment via payroll deduction and prompt claims service.
Blood Systems will reimburse eligible exempt salaried employees for certain expenses incurred within 12 months of transfer or hire when they are relocated from one location to another with prior approval or at management’s request. To be eligible, the employee’s new worksite must be more than 100 miles from his/her current residence.