Insurance Plan Types
This is a type of health insurance plan where you choose a Primary Care Physician who must provide a referral for you to see any other doctor.
What is an HMO (Health Maintenance Organization).
This is the amount you pay before insurance kicks in.
What is a Deductible.
This is a type of insurance plan that will provide reimbursement for expenses you may have for "Fido" or "Fluffy."
What is Pet Insurance
This is a program where you can set aside pre-tax or post-tax money into a qualified account to use when you get old.
What is a 401k Plan.
This is the name of Banville's HR Lady
Who is Diane Garfield
This is a type of health insurance plan where you can only see doctors who are "in network" on your plan and you'll have no coverage for visiting any out-of-network providers.
What is an EPO (Exclusive Provider Organization).
This is the most you could have to pay if you have a lot of medical bills in a year.
What is Out of Pocket Maximum.
This is a type of benefit that pays a non-taxable benefit to your designated beneficiaries. Hint: Banville provides you with $50k but you can also buy more!
What is Life Insurance (and Supplemental Life Insurance for buy-up Life).
This is a program where you can borrow against money you have in your 401k plan for things like buying a house, a car, or paying college tuition. You pay yourself back with interest.
What is a 401k Loan.
This is a program where employee's can purchase products from our portfolio at Laid-In-Cost.
What is our Employee Wine Purchase Program.
This is a type of health insurance plan where you can see any provider you choose. Benefits are stronger in-network but you can also see providers who are out-of-network.
What is a PPO (Preferred Provider Organization).
This is the monthly amount a health plan charges to provide insurance coverage. Employees pay some, Banville pays some.
What is a Premium.
There are two types of this plan where you can set aside pre-tax money to pay for qualified medical or dependent care expenses.
What are Flexible Spending Accounts.
For people who contribute to their 401k plan, Banville will dollar for dollar match your contributions up to this maximum amount. The contribution is made once a year.
What is a maximum contribution of $9,750.
This is a program where employee's can apply to have a portion of qualifying educational programs paid for by Banville.
What is the Louie Tolaini Scholarship Program.
This is a type of health insurance plan where you can will pay "full negotiated cost" for all services until you hit your deductible. These plans are paired with a Health Savings Account.
What is a HDHP (High Deductible Health Plan)
This is an amount you must pay for covered services or prescriptions. Some plans require you meet a deductible before this applies.
What is a Copayment or Copay.
This is an employee paid benefit that will pay you a flat dollar amount, regardless of your insurance coverage, for things like visiting the ER, being transported in an ambulance, imaging or lab work, and more.
What is Accident Insurance.
These are the two qualifiers to be eligible to receive a 401k contribution from Banville.
What is making your own contributions and being employed by Banville on the last day of the calendar year.
This is an important document that outlines a job's responsibilities and qualifications. It is a primary tool used to evaluate what a job should pay using verified market data - so it's important to keep it updated!
What is a job description.
These terms tell you if a provider is contracted with your health plan or not. On some plans it defines the level of benefit you'll receive, on some plans it tells you which providers you can or cannot see.
What is In-Network and Out-Of-Network Providers.
This is a percentage or amount you are required to pay for medical expenses after your deductible has been satisfied.
What is Coinsurance.
These are two Banville paid plans that provide you income replacement if you become sick or injured outside of work and cannot work for a short or long period of time.
What are Short-Term and Long-Term Disability plans.
This is the IRS maximum you can contribute into your 401k account for 2023. Bonus point if you can also state the "catch-up" contribution limit for people age 50 and older!
What is $22,500 plus a catch-up contribution of $7,500.
Under Banville's new time off policies, these are the number of PTO, Sick, and Holiday days a new employee to Banville will earn each year.
What is 10 PTO days, 9 Sick days, and 10 Holidays.