At Paradigm Precision, we are committed to providing a world-class work environment for our people—our greatest asset.
A key aspect of that commitment is our investment in a well-rounded benefits package.
Each year, Paradigm evaluates our benefits with a focus on providing a cost-effective, competitive package. We believe your health is important and we continue to invest in wellness resources for all employees. Our goal is to provide offerings that continue to evolve and meet the needs of you and your family.
For 2022, we are pleased to provide you with access to a comprehensive, quality benefits package that offers flexibility and security. As you may be aware, health care costs continue to increase. We worked closely with our broker to maintain our current quality benefit offerings and competitive employee pricing for you.
Open Enrollment is October 18 – November 5
Open enrollment begins on Monday, October 18th and ends on Friday, November 5th. This year we are having an ACTIVE ENROLLMENT, meaning that you must login to ADP at workforrcenow.adp.com to confirm your benefits, even if you are not making changes for the 2022 plan year. Be sure to confirm your HSA elections again, even if you are not making any changes.
Updates for 2022
A $40.00 per month vaccine surcharge will be added to your monthly contribution for all employees who have not received the COVID-19 vaccine.
Medical
Pharmacy
Dental
Vision
Life/Voluntary Life
Short Term and Long Term Disability
Critical Illness and Accident
Pet Insurance
Enrollment Platform
Members enrolled in the Buy-Up Plan OR changing medical plans will receive a new Cigna medical ID card in the mail prior to January 1st. Some design features on the Cigna Medical/Prescription plans are changing:
The annual in-network deductible will increase from $2,500 to $3,000 for Employee Only and from $5,000 to $6,000 for Employee + Dependents.
The annual deductible will change from non-embedded to embedded. (please refer to the glossary for the definitions of embedded and non-embedded deductibles)
The in-network out-of-pocket maximum will increase from $5,000 to $6,000 for Employee Only and from $10,000 to $12,000 for Employee + Dependents.
The Prescription tier structure will change from 3-tiers to 4-tiers.
The out-of-network deductible will increase from $5,000 to $8,000 for Employee Only and from $10,000 to $16,000 for Employee + Dependents.
The in-network annual deductible will increase from $2,500 to $5,000 for Employee Only and from $5,000 to $10,000 for Employee + Dependents
The in-network out-of-pocket maximum will increase from $3,750 to $7,000 for Employee Only and from $7,500 to $14,000 for Employee + Dependents.
The in-network coinsurance will decrease from 80% to 70% (what the plan pays)
The out-of-network deductibles will increase from $5,250 to $8,000 for Employee Only and from $10,500 to $16,000 for Employee + Dependents
The out-of-network coinsurance will decrease from 60% to 50% (what the plan pays)
The out-of-network out-of-pocket maximum will increase from $9,750 to $10,000 for Employee Only and from $19,500 to $20,000 for Employee + Dependents
The Prescription tier structure will change from 3-tiers to 4-tiers
The Prescription Deductible will increase from $100/$200 (Employee Only / Employee + Dependents) to $400/$800 (Employee Only / Employee + Dependents)