Basic Health Care Coverage
IDEC pays 100% of the premium for you and 75% of the additional premium for eligible dependents for basic health coverage (medical, dental, vision, chiropractic and mental health). Benefit eligibility starts on the first day of employment. The health care benefits are a package and cannot be selected individually. The Summary Plan Description provides detailed benefit provisions for all of the benefits listed below.
Medical Coverage (For Employees and Dependents)
You have a choice between Prudential’s HMO Plan and PPO Plan. You and your spouse/domestic partner and dependent children (up to age 19 or age 25 if a full-time student) become eligible for coverage on your date of hire. Switching from one medical plan to the other can be done during open enrollment in December of each year and will be effective January 1 of the following year.
| Benefit Summary Out of Area |
HMO | PPO | ||
| In Network | Out of Network | (No Network) | ||
| Annual Deductible Max. Out-Of-Pocket |
None $1000 Ind./ $3000 3 or more |
None $1000 Ind./ $2000 Fam. |
$150 Ind./$300 Fam. $2000 Ind./ $4000 Fam. |
None $1000 Ind./ $2000 Fam. |
| Hospital Expenses | No Charge | 90%80% | ($200 Deductible) | 90% |
| Physician Services Surgeons Outpatient Surgery MD Office Visits |
No Charge 90% 80% |
No Charge 90% 80% |
$5 Per Visit $10 Per Visit 80% |
90% 90% 90% |
| Maternity | $5 Per Visit | 90% | 80% | 90% |
| Prescription Drug | $5 Co-Payment | $5 Co-Payment | 80% ($50 Deductible) | 90% |
| X-Ray and Lab | No Charge | 90% | 90% | 90% |
| Chiropractic Care | $10/30 Visits | $10/30 Visits | 80% | 90% |
Dental Coverage (For Employees and Dependents)
You have a choice between Prudential’s DMO Plan and the Alternate/PDO Plan. You and your spouse/domestic partner and dependent children (up to age 19 or age 25 if a full-time student) become eligible for coverage on the your date of hire. Switching from one dental plan to the other can be done throughout the plan year and becomes effective the first of the following month.
| Benefit Summary | DMO | |
| Alternate/PDO | ||
| Annual Deductible | None | $50 Individual/$150 Family |
| Max. Out-Of-Pocket | None | $2000 |
| Routine Visits and Exams | 100% | 100% |
| X-rays | 100% | 90%-100% |
| Restorations (i.e. fillings) | 100% | 90% |
| Prosthodontics (i.e. crowns, dentures) |
80% | 60% |
| Orthodontics | 50% (no lifetime maximum) | 50% ($1500 lifetime maximum) |
Vision Care Benefits (For Employees and Dependents)
You and your dependents who are covered by our medical and dental benefits are eligible. The benefits include an eye exam and a set of corrective lenses once each calendar year, and frames once in any 2 calendar years. There is an annual deductible of $20 and a maximum annual benefit of $500.
Prudential Behavioral Health (For Employees and Dependents)
Prudential BHN specializes in managing mental health and substance abuse care. BHN focuses on early identification and prompt, appropriate treatment of mental health and substance abuse problems through a national network of qualified providers. This benefit is coordinated through IDEC’s EAP.
Work/Life Benefits (For Employees, Dependents and Other Household Members)
Work/Life Benefits is a free resource and referral program that simplifies the job of handling a variety of life’s challenges. Consultants are available 24 hours a day to provide detailed resource materials on parenthood, childcare, eldercare, schools, etc.
State Disability Insurance (For Employees)
A percentage of gross earnings will be deducted from your paycheck (up to a yearly maximum) for California State Disability Insurance. IDEC Pharmaceuticals also contributes to this insurance fund on your behalf. This insurance provides benefits to you for non-occupational injuries and sickness. You would become eligible for this benefit upon the eighth day of a disability.
Short Term Disability (For Employees)
This insurance provides you with a weekly benefit while disabled by a covered illness, injury or pregnancy. The benefit in combination with State Disability Income will provide up to 60% of your weekly earnings, up to a $500 maximum per week. There is a 7-day waiting period unless hospitalized or involved in an accident. The maximum benefit period per continuous disability is 12 weeks.
Long Term Disability (For Employees)
This insurance provides you with a monthly benefit while disabled (after 90 days of disability) of up to 60% of his/her monthly salary or $10,000 monthly, whichever is less. The maximum benefit period is to age 65 or until no longer classified as disabled, whichever comes first.
Life Insurance (For Employees and Dependents)
Depending on the circumstances, the life insurance benefit for this coverage may pay 2 times your annual salary. The AD&D; coverage may provide an additional benefit of up to 2 times your annual salary. You may also purchase supplemental coverage for themselves and/or may arrange for supplemental life insurance coverage for your eligible dependents. You must pay the full premium for any supplemental life insurance coverage you elect to take.
Workers’ Compensation Insurance (For Employees)
This benefit provides workers’ compensation insurance coverage at its expense in addition to the health care coverage. Workers’ compensation insurance applies specifically to injuries you sustain on the job and illnesses directly related to your work.
Employee Assistance Program (For Employees, Dependents and Other Household Members)
IDEC offers an Employee Assistance Program (EAP) to help you handle personal problems. These problems may be as diverse as marital or family difficulties, financial troubles, alcohol or drug abuse, stress management, or psychological problems. This benefit allows 8 visits per eligible individual per year.
Paid Time Off (PTO) (For Employees)
Full-time, regular employees will accrue 120 hours of PTO in the first year of employment. For each additional year of employment an additional 8 hours is accrued per year, up to a maximum accrual of 200 hours for 10 or more years of service. PTO hours are accrued per pay period and there is no waiting period to take earned PTO. Earned PTO may be taken subject to supervisor’s approval.
401(k) PLAN (For Employees)
This Plan gives you the opportunity to accumulate savings for retirement at the same time that you reduce your taxable wage base. You are eligible to enroll in this Plan on any January 1 or July 1 after three months of employment. You can contribute up to 20% of their earnings into the Plan subject to certain annual contribution limitations. You can select from a variety of professionally managed funds. There is a company match of $.50 for every dollar that you contribute up to the first 6% of employee contributions (Annual Maximum: $2500). You vest in the company match over 4 years based on your years of IDEC employment.
Employee Stock Options (For Employees)
The purpose of the Option Plan is to provide you with the opportunity to acquire an ownership interest in the Company. At the time of hire, you will be given a 10-year option to purchase a designated number of shares of the Company’s Common Stock at the common stock’s fair market value on the date of grant. Typically, you vest in their granted stock options over a four-year period. Based on performance and tenure with IDEC, you may receive additional grants of stock options, following your annual performance evaluation.
Holidays
Recognized Holidays: New Year’s Day, President’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Day after Thanksgiving and Christmas Day. Additional holidays are generally granted between Christmas and New Year’s.
Flexible Benefit Plan (For Employees)
This Plan enables you to set aside pre-tax money from your paycheck(s) to pay for out-of-pocket health care expenses and dependent child/elder day care expenses. By participating in the Flex Plan, you may significantly lower your taxes.
Continuing Education Program (For Employees)
IDEC provides financial assistance if you undertake educational courses which will improve your professional skills. These courses must be related to your present position and career development within IDEC. If you are eligible, you may be reimbursed for tuition costs, registration and laboratory fees up to a maximum of $2500 each calendar year. Textbooks will be reimbursed at the rate of 50% up to a maximum of $50 per course. Approval is required in advance of registration.
Miscellaneous
- Credit Union Membership – As an IDEC Pharmaceuticals’ employee, you are eligible to join San Diego County Credit Union.
- Recreation Discounts – IDEC Pharmaceuticals is able to obtain and offer discounts to employees in San Diego County. (i.e. movie theaters, attractions & events).
SPECIAL NOTE:This information is intended to outline only the highlights of your employee benefits program. In case of any question or any difference between this information and what is stated in the official texts of the Plan documents, the official texts will always govern. IDEC reserves the right to modify, amend or terminate these plans.
More detailed information may be obtained from Human Resources.