Our employees are our most valuable asset. That’s why at Straight Arrow Products, Inc. we are committed to a comprehensive benefit program that helps our employees stay healthy, feel secure and maintain a positive work-life balance. New employees are eligible for most benefits on the first of the month following 2 full months of employment. Below is an overview of the benefits.
MEDICAL: Capital Blue Cross
A Capital Blue Cross PPO plan that provides comprehensive medical and prescription drug coverage and access to a broad network of providers.
The plan, provided to employees at no cost, includes:
- A Health Reimbursement Arrangement (HRA) that pays a portion of the plan deductible.
- Because of the HRA employees with individual coverage are responsible only for the first $500 of the $4,000 in-network deductible
- Those with family coverage are responsible for the first $1,000 of the in-network deductible.
- After that Straight Arrow covers all deductible expenses up to $4,000 for individual and $8,000 for family coverage.
- The company contributes to premium cost of insuring dependents.
Employees may waive participation in this benefit and receive an extra monthly payment.
DENTAL: AlwaysCare Dental
The dental plan covers:
- Preventive, basic, major, and orthodontic services.
- Employees and each covered dependent have $1,000 in annual benefits
- $1,000 lifetime maximum for orthodontics.
- There is no waiting period to access covered procedures.
VISION: Avesis Vision
The Avesis vision plan provides coverage for:
- Annual eye examinations, lenses or contacts, and frames.
- $10 copay for an annual eye exam.
- Allowance for purchase of frames and spectacle lenses.
- Coverage for contacts in lieu of glasses. Discounts on laser surgery.
COMPANY-PROVIDED TERM LIFE INSURANCE and Accidental Death and Dismemberment Insurance
- Straight Arrow pays 100% of the coverage.
- One times earnings to a maximum benefit of $70,000
- Benefit paid for medical or accidental death to your designated beneficiary
- Age reductions apply
OPTIONAL WHOLE LIFE INSURANCE — New York Life (NYL)
- Purchase whole life insurance on yourself, spouse, dependent children and grandchildren
- Coverage amounts up to $150,000 on you; $50,000 spouse; and $25,000 child and grandchild
- 100% employee paid via payroll deduction
401(k) RETIREMENT PLAN
- Eligible after 1 year of service
- Easy to save with payroll deduction
- Variety of investment options to help your money grow
- Employer match
VOLUNTARY BENEFIT OPTIONS—AFLAC
- Disability Income Protection – Provides a source of income during a disability when you can’t work.
- Personal Sickness Insurance – covers some out-of-pocket medical costs during a period of illness.
- Accident Insurance – pays cash benefits to you to cover costs resulting from an unexpected injury.
- Cancer and Critical Illness – covers some medical costs incurred for specific serious illnesses.
- Life Insurance–purchase a $25,000 policy.
Medical / Health Care Spending Account
- $2,550 annual maximum
- Pre-tax savings account to cover health care expense not covered by insurance
- Deductibles, copays, prescription drugs, dental and vision expenses
- Debit card allows you easy access to the funds in your account
- IRS rules allow you to roll over up to $500 to the next plan year
Dependent Care Spending Account
- $5,000 annual maximum
- Pre-tax savings account for elder care and child care expenses.
- Non-residential adult daycare expenses
- Pre-school and after school daycare (up to age 13)
- Full day daycare up to kindergarten
- Plan wisely — Use it or lose it provision.
- Vacation, personal days, and sick time
- 9 paid holidays
EMPLOYEE ASSISTANCE PROGRAM (EAP)
- Confidential counseling available for employees and dependents living in the Lehigh Valley
- Five in-person counseling sessions per year
- Free, voluntary, confidential counseling.
- Free company products
- Free company apparel
- Free admission to local events
- Holiday employee party