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The following summary is representative of H&V's benefits programs
in the United States. Specific components and benefit levels my
vary depending on the country or work location.
Depending on location, you may have a choice between a Preferred
Provider Organization (PPO) Plan, a Health Maintenance Organization
(HMO) Plan, or a choice among several HMO plans. All plans include
prescription drug benefits. The Company pays a significant portion
of the premium for all Medical Plans.
Regardless of location, you may choose to purchase dental coverage
for yourself and your eligible family members. Benefits include
preventive care, basic care, major dental service care, and orthodontia
(a lifetime maximum of $1,500 for dependent children up to age 18).
The maximum dental benefit is $1,500 per year for each covered person.
The employee pays the full premium for dental coverage.
Depending on location, vision benefits are available through a Vision
Insurance Plan. Some Medical Plans offer coverage for annual vision
exams and discounts on eyeglasses. We also offer a separate Vision
Plan that includes coverage for annual exams, significant discounts
on eyeglasses and contacts as well as a discount on laser vision
correction surgery. The employee pays the full premium for vision
coverage.
Depending on location, the company pays for Basic Life Insurance
equal to one (1) times your base salary. You may choose to purchase
additional insurance up to three (3) times your base salary (maximum
of $750,000). You may also purchase additional coverage to protect
you and/or your family if you are injured or die in an accident.
Amounts available include 2, 4, or 6 times your base salary.
Depending on location, you may purchase life insurance for your
dependents with after-tax dollars. Amounts available include: $10,000
for your spouse and $2,500 for each dependent child over 6 months;
or $25,000 for your spouse and $5,000 for each dependent child over
6 months.
Depending on location, you may enroll in a Health Care or Dependent
Care Flexible Spending Account (FSA) that allows you to pay for
those expenses on a pre-tax basis.
Health Care Account: Eligible health care expenses not covered
by the medical, dental, and/or vision plans (up to $7,200 per year)
include deductibles, co-pays and co-insurance; eye exams, glasses,
contact lenses, and supplies; hearing exams and aids; and orthodontic
charges above the maximum.
Dependent Care Account: Eligible dependent care expenses (up to
$5,000 per year) that you incur so you and your spouse can work
include child care center expenses, elder care costs, and nanny/sitter
fees.
You can defer a portion of your pay on a pre-tax basis to a 401(k)
Savings Plan, with a company match up to the first 6%. The current
match is $0.40 for every dollar you save,
up to 6% of your base pay. You are eligible to participate in the plan on the first
of the month following your hire date, or any later date. We offer
12 investment funds that provide a full-range of investment options
from conservative to aggressive. The vesting schedule for company
matching contributions is as follows:
| Year of Employment |
Vesting % |
| 0 - 2 Years |
0% |
| 2 - 3 |
25% |
| 3 - 4 |
50% |
| 4 - 5 |
75% |
| 5 or more |
100% |
H&V offers a defined benefit Pension Plan that provides retirement
and survivor benefits. The company pays the entire cost of the plan.
Non-union employees become eligible for the Pension Plan on the
first of January or July following one year of service, provided
they are age 21. Union employees become eligible for the pension
plan effective with the date of hire. You are fully vested in the
plan following 5 years of employment.
Company paid vacation time; paid holidays; service awards recognizing
service at five-year intervals; Educational Assistance (for non-union
employees); Employee Assistance Program (EAP); and Secure Travel
Program with benefits provided for travelers on personal or business
travel.
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