VHB offers several insurance options for you and your family.
Basic and Supplemental Term Life Insurance
VHB’s basic life insurance and supplemental term life insurance benefits are provided by Reliance Standard.
Eligibility
Full-time and part-time employees working 30 or more hours per week are eligible for coverage beginning on their first day of employment.
Plan Benefits
Basic Employee Life and AD&D Insurance
VHB provides group term life insurance equal to one and one-half times the employee’s annual salary plus bonus up to a maximum of $200,000. Employees are also covered by accidental death and dismemberment insurance.
Supplemental Term Life Insurance
VHB’s supplemental term life insurance program offers additional coverage to eligible employees and their families.
Supplemental Term Life Insurance options:
Employees – coverage is available for up to five times their basic annual earnings, not to exceed an overall maximum of $700,000.
Spouse – coverage for a spouse or domestic partner is available for up to $100,000 in $10,000 increments not to exceed the employee’s coverage amount.
Child – coverage for dependent children is available at either $5,000 or $10,000.
Applications for supplemental term life insurance may be subject to underwriting*. Employees and those electing spousal coverage must complete an Evidence of Insurability (EOI) form. One form can be used for both the employee and spouse.
*NOTE – if you are a new employee in your first 30 days of employment, you are eligible for the Guarantee Issue of up to two times your annual earnings for Supplemental Employee Life, and up to $30,000 for Supplemental Spouse Life. Therefore, you do not need to complete the EOI form.
Enrollment
Basic Employee Life and AD&D Insurance enrollment is automatic for eligible employees.
For Supplemental Term Life Insurance, employees must enroll via the Enroll Now button above during Open Enrollment or when they experience a qualifying life event. New employees have 30 days from their start date to enroll.
Beneficiaries
Once you have made your Life Insurance elections in the enrollment platform, you will be prompted to provide your beneficiaries.
Group Whole Life Insurance
VHB’s group whole life insurance benefit is provided by MassMutual.
Eligibility
Full-time and part-time employees working 20 or more hours per week are eligible for coverage beginning on their first day of employment.
Plan Benefits
VHB’s group whole life insurance program offers additional coverage to eligible employees and their families.
Options include:
Employees – coverage of up to $250,000 is available in $5,000 increments starting at $10,000. For new employees the guaranteed issue is $100,000.
Spouse* – coverage for a spouse is available at either $10,000 or $20,000 not to exceed the employee’s coverage amount.
Child* – coverage for dependent children is available at either $10,000 or $20,000 not to exceed the employee’s coverage amount.
*Employees must enroll in a minimum of $25,000 in order to enroll any dependents.
Enrollment
Employees must enroll via MassMutual’s enrollment platform during the annual enrollment period or when they experience a qualifying life event. New employees have 30 days from their start date to enroll.
Upon getting to the enrollment platform, your User ID is your SSN and password is your four-digit year of birth.
Beneficiaries
Once you have made your Life Insurance elections in MassMutual’s enrollment platform, you will be prompted to provide your beneficiaries.
Disability Insurance
VHB’s Basic Short Term Disability (STD) and Long Term Disability (LTD) Insurance coverage is a company-paid benefit and is administered by Reliance Standard.
Eligibility
Full-time and part-time employees working 20 or more hours per week are eligible for STD and LTD coverage, which automatically begins on the first day of the month after 30 days of active employment.
Plan Benefits
Short Term Disability (STD) Insurance pays a portion of the employee’s earnings if they cannot work due to a disabling illness or injury. The benefit paid is equal to 60% of the employee’s earnings, up to a maximum of $2,500 per week. Once approved for coverage, an employee can begin to collect their STD benefit starting on the first day after an accident and the eighth day of illness and can continue up to 13 weeks. VHB pays the full cost of this insurance.
Long Term Disability (LTD) Insurance begins when eligible employees are disabled for more than 90 days. Upon approval of the long-term disability claim, the benefit paid is equal to 60% of basic monthly earnings to a maximum monthly benefit of $20,000. VHB pays the entire cost of this insurance coverage.
LTD Tax Option is offered to employees as a tax savings in which the employee is responsible for paying the tax on the VHB-paid premium for long term disability coverage. VHB still continues to pay 100% of the premium for the employee. Under employer-paid plans such as ours, benefits when received are generally taxed as ordinary income. Enrolling in the “Taxable” option allows the employee, if they need to go on long term disability, to receive the benefit tax-free.
Enrollment
For STD and LTD coverage, eligible employees are automatically enrolled. No employee action is required.
Employees can select the LTD Tax Option via the Enroll Now button above during Open Enrollment. New employees have 30 days from their start date to make their selection.
Domestic Partner Coverage
VHB offers Domestic Partner coverage to employees that are benefits eligible.
Eligibility
All full-time and part-time employees working 20 or more hours per week are eligible for Domestic Partner coverage given they meet the requirements. The employee and their Domestic Partner must prove that they have lived together for at least one year and plan to do so indefinitely. Domestic Partners are jointly responsible for each other’s welfare and financial obligations.
Domestic Partners are eligible to enroll in the following benefits:
- Medical Insurance
- Dental Insurance
- Vision Insurance
- Medical Flexible Spending Account (for tax dependent partners only)
- Health Savings Account (for tax dependent partners only)
- Limited Purpose Flexible Spending Account (for tax dependent partners only)
- Legal Services and Identity Theft Protection
- Term Life Insurance (with Reliance Standard)
- Long Term Care Insurance
Domestic Partner insurance has a tax implication called Imputed Income that the employee is responsible for. With Domestic Partner coverage, the employee is taxed on the full premium of the individual plan for medical, dental, and vision. Imputed Income is added as an earning so that both Federal and State taxes are calculated and then the Imputed Income amount is offset with a deduction.
Enrollment
Employees may add a Domestic Partner to the above listed benefits within their first 30 days of employment, during Open Enrollment, or within 30 days of a qualifying life event. You will need to provide two proofs of living together that date back at least one year. Examples include a lease document with both names, a utility bill with both names, a bank statement with both names, etc.
Use the Enroll Now button above to enroll in the benefits listed (except Long Term Care
Once you have enrolled, you will need to upload a Domestic Partner Affidavit signed by both parties, a Proof of Residence, and a Proof of Address. Follow the steps below to upload your affidavit and two proofs of living together:
Click the “Enroll Now” button
Navigate to Menu > Myself > Benefits > Manage My Benefits
Select “Documents”
Select “My Documents”
Upload your completed “Domestic Partner Affidavit”, Proof of Residence, and Proof of Address.
