NewsBank’s vision is to be the best company for its employees, customers, business partners and communities. For more than 50 years, NewsBank, inc. has been one of the world’s premier information providers, offering a variety of value-added research and education products and services to schools, libraries, publishers, professionals and consumers through several brands.
NewsBank strives to provide its employees with job satisfaction, financial reward and opportunities for growth in a challenging, team-oriented work environment. Also, NewsBank employees strive to be responsible citizens in their relationships with fellow employees, customers, business partners and the communities in which they live and work.
Disclaimer: The information in this Benefits Summary is presented for illustrative purposes. While every effort was taken to accurately report your benefits, if there are any discrepancies between the information provided in this guide and information contained in carrier or employer produced Benefit Summaries and Plan Documents, please rely on the latter.
Below you will find your 2024- 2025 Benefits Guide with OE Notices
2024-2025 Open Enrollment Presentation
Medical Benefits
Welcome
NewsBank, inc. offers a PPO Health Plan through CBA Blue. Our objective is to offer quality coverage balanced against both the rising short and long-term costs of healthcare.
Eligibility
All employees working 30 or more hours per week are eligible to enroll in health insurance. Eligibility for newly hired employees is first of the month coinciding with or after 30 days of full-time employment.
Note: A spouse who is eligible for coverage through his or her employer is ineligible for coverage through NewsBank, inc.
Benefit Information
How do I enroll?
To enroll in benefits as a new hire or during open enrollment, all employees must submit their benefit elections through Employee Navigator Benefits Portal.
If you miss the new hire or open enrollment window, you will have to wait until the next open enrollment period to enroll in benefits unless you experience a qualifying life event.
Waiving or Declining Health Insurance
If you are eligible for health insurance and will not be enrolling because of alternative coverage, or choose not to have insurance, a waiver form must be signed during the enrollment period. If you elect not to enroll, you may not join the plan until the next Open Enrollment period, unless there is a “qualifying event.” A Qualifying Life Event is a life-changing situation that allows you to make changes to your benefit elections, outside of the normal, Open Enrollment period. Examples of Qualifying Life Events include: the birth of a child, marriage, divorce and a loss of other coverage.
All employees should be aware of possible Federal tax penalties for declining NewsBank’s health insurance plan enrollment, as well as alternatives for health insurance available through the Health Insurance Exchange. For more information about declining health insurance, see: https://www.healthcare.gov/get-coverage/ and http://www.valuepenguin.com/ppaca/exchanges/nh.
What happens if I leave NewsBank, inc.?
Under certain circumstances, you and your dependents may continue to participate in health coverage, dental insurance, and the Medical Flexible Spending Account through the Consolidated Omnibus Budget Reconciliation Act (COBRA). COBRA is a federal guarantee of the continuation of health insurance plan coverage after employment ends, which allows you to remain on medical and dental coverage, at the employee’s expense, for up to 18 or 36 months, depending on the circumstances. Former employees who enroll via COBRA will be responsible for the full cost of the monthly premiums.
Summary of Benefits & Coverages
There are three major components of a Health plan.
Network – NewsBank’s Health plan, administered by CBA Blue VT, uses the Blue Cross Blue Shield network.
- For a list of the participating In-network providers,
visit www.cbabluevt.com.
Cost To Use – For in-network services, you will have copays for office visits, specialist visits and emergency care. You will be responsible for meeting the deductible for most other in-network and out-of-network services, before the plan begins to pay. Once the deductible has been met, you will pay 20% coinsurance for most in-network services and 40% for out-of-network services. Coinsurance will be paid until the Out-of-Pocket Maximum (OOP) has been met. The Out-of-Pocket maximum refers to the most you will pay for covered expenses under the plan. You will experience a much higher OOP for Out-of-Network services.
Cost To Own – The amount that will be deducted from each paycheck is listed below.
NewsBanks’ prescription drugs benefits will be managed by RxBenefits using OptumRx. For additional information on RxBenefits and OptumRx see informational flyers.
Carrier Contact Information
Contributions & Rates
2024 Benefits Guide with OE Notices
Medical Plan Documents
Prescription Drug Benefits
Flexible Spending Accounts (FSA) and Dependent Care Accounts (DCA)
Medical Flexible Spending Account (FSA)
What is a Medical Flexible Spending Account? A Medical FSA is a tax-advantaged employee benefit that allows eligible employees to voluntarily set aside pre-tax dollars through equal payroll deductions to be used for eligible health care expenses.
Who is eligible? The medical FSA is available to all regular full-time employees, working 30 or more hours per week, whether or not they participate in NewsBank’s Health insurance. For new hourly employees, eligibility begins first of the month coinciding with or after 30 days of employment.
Eligible employees may elect to contribute up to $3,200 in 2024.
Medical FSA Basics
- Medical FSAs are used to set aside money for planned or reoccurring qualified medical expenses that are not covered by insurance, such as dental care, vision care, contact lenses, co-pays, deductibles, out-of-network expenses. For a list of qualified expenses visit: https://www.irs.gov/pub/irs-pdf/p502.pdf
- Under the Coronavirus Aid, Relief and Economic Security Act (CARES Act), the definition of a qualifying medical expense now includes certain over-the-counter (OTC) medications and products. For some examples of these products, see the “Expanded FSA Expense” flyer.
- You have full access to your total election amount on the 1st day of that plan year. You do not need to wait until your FSA payroll deductions equal the amount of your qualified medical expense.
- Most transactions can be paid at the point of sale with a debit card pre-loaded with your total FSA amount for that plan year.
- You may carry $640 or less into the next plan year, if the minimum election of $26 is made. Any remaining funds exceeding $640, would be forfeited.
What is the most I can contribute?
- $3,200 for plan year
- Payroll deductions are based on 26 paychecks per year.
- For new employees enrolling after January 1, the maximum allowable amount to be set aside is prorated. Payroll deductions will be based on the remaining number payroll checks in the plan year.
Dependent Care Account (DCA)
What is a Dependent Care Flexible Spending Account?
A dependent care FSA (DCA) allows employees to set aside pre-tax dollars to pay for daycare expenses for your children under 13, or qualifying dependents. To qualify for a DCA, the IRS requires that both spouses be employed or full-time students.
Ordinarily, you may contribute up to the dependent care FSA is $5,000* (if single or married & filing jointly) or $2,500* (if married & filing separately)
Please note that the DCA is 100% employee funded and is only available to use as monetary contributions are made.
Eligible Daycare Expenses :
- Childcare or Adult Care by a licensed childcare facility, for children under 13 years of age who qualify as tax dependents.
- Childcare or Adult care for children or adults of any age who are physically or mentally unable to care for themselves and qualify as dependents.
Ineligible Daycare Expenses :
- Educational expenses including kindergarten or private school tuition fees
- Amounts paid for food, clothing, sports lessons, field trips, and entertainment
- Overnight camp expenses
- Transportation expenses
- Child Support payments
For additional information, please contact American Benefits Group at www.amben.com.
Employer ID: ABGNEWSB
Visit https://www.irs.gov/forms-pubs/about-publication-503 for a comprehensive list of eligible expenses, federal laws and regulations.
How do I enroll in the FSA or DCA?
Whether you are enrolling for the first time, or continuing to participate in the new plan year, you would need to complete your enrollment through your Employee Navigator Benefits Portal at www.employeenavigator.com.
Once you have made an election, unless you experience a qualifying event, you are unable to make changes until the next open enrollment period.
Carrier Contact Information
American Benefits Group: Flexible Spending Accounts (FSA & DCA)
Customer Service: 855-294-7010
Website: www.amben.com
Forms and Plan Documents
FSA Store
The Richards Group has entered into a partnership with Health-E Commerce, also known as the FSA Store. This gives you access to hundreds of products that have been pre-vetted & approved for use with your Flexible Spending Account.
Did you know you could use your FSA to save money on everyday health essentials like baby health items, health trackers, pain relief products and more?
Here are just a few benefits of using the FSA Store:
- No Receipts Needed
- 2,500+ FSA Eligible Products
- 100% Eligibility Guaranteed
- Skip the claims process when you use your FSA card
This partnership also allows access to their Caring Mill products. Caring Mill is a line of premium healthcare products that support a healthy lifestyle and on average is priced 30% less than branded equivalent products.
With every Caring Mill purchase, a donation is made to Children’s Health Fund, providing necessary treatments to thousands of children in need, throughout the United States.
Curious what your FSA dollars can cover? Simply enter the product you are looking for in the eligibility list below.
Dental Benefits
Eligiblity
All employees working 30 or more hours per week are eligible to enroll in dental insurance. Eligibility for newly hired employees is first of the month coinciding with or after 30 days of full-time employment.
Summary of Benefits and Coverages
Plan Overview
NewsBank, Inc provides dental insurance through Delta Dental. Under the Delta Dental plan, Diagnostic & Preventive services are not subject to the $1,000 maximum benefit, leaving more funds for Type 2 & Type 3 services. In addition, the plan offers a lifetime $1,000 orthodontic benefit for children and adults enrolled in the plan.
The chart below provides a high level overview of the dental plan design and features offered to eligible employees by NewsBank, inc.
When considering whether purchasing dental insurance makes sense for you and your family, there are three things you should consider:
Network – Delta Dental has an extensive network. To search for in-network providers, visit https://www.deltadentalins.com. If you visit a non-participating (Out-of-Network) dentist, you are required to pay the difference between the plan payment and the provider’s actual fee for covered services.
Cost to Use – There is no deductible for Preventive Services (Type 1). For Basic services (Type 2) and Major services (Type 3) you will pay a per benefit period deductible of $50 per person or maximum deductible of $150 for a family.
The annual maximum for the plan is $1,000 per member.
After meeting the deductible, you will be responsible for 20% of the cost of in-network Type 2 services, 50% of Type 3 services, and 100% of all services once you’ve reached your annual max of $1,000.
Cost to Own – What will your per paycheck deduction be? The amount that will be deducted from each paycheck is listed below.
Contributions & Rates
Enrolled employees pay premiums through payroll deductions, over 26 pay periods. These rates are effective the 2nd pay period of January, 2025.
With Dental Insurance, it might be helpful to conduct a cost-benefit analysis for yourself and your family before enrolling. Once you’ve determined your annual cost to own the insurance, based on the premium chart above, consider the following:
- How often do you and your family members receive preventive dental care?
- Do you expect to need major, non-cosmetic dental work in the coming year?
- Do you have a dentist you know and trust that is included in this plan’s network?
- Would making tax favorable elections/contributions to an FSA be a less expensive way for you to pay for dental care?
Carrier Contact Information
Delta Dental: Dental Insurance
Customer Service: 800-521-2651
Website: www.deltadentalins.com
Group & Voluntary Life and AD&D Insurance
Eligibility
All employees working 30 or more hours per week are eligible to enroll. Eligibility for newly hired employees is first of the month coinciding with or after 30 days of full-time employment.
Summary of Group Basic Life and AD&D Benefits and Coverages
Group Basic Life & AD&D
COVERAGE:
Benefits are 1x earnings to a maximum of $50,000.
AD&D: Amount is % of Life Benefit based on loss
Conversion: You may convert your group policy to an individual whole life policy if your employment ends.
Age Reduction: At age 65 Employee Supplemental and Dependent Life reduces to 65% of the original coverage amount.
Voluntary Supplemental Life & AD&D
COVERAGE:
Employee: Benefits available in increments of $10,000, up to 5x earnings to a maximum of $300,000.
Spouse: Benefits available in increments of $5,000, not to exceed 50% of the employee amount, up to a maximum of $100,000.
Child: Less than 26 – $2,000, up to $10,000. Rate is $.073 per $1,000, per month.
GUARANTEE ISSUE: Only applies during initial enrollment period.
Employee: $150,000
Spouse: $25,000
Child: $10,000
Conversion: You may convert your group policy for you and your spouse to individual whole life policies if your employment ends.
Age Reduction: At age 65 Employee Supplemental and Dependent Life reduces to 65% of the original coverage amount.
Coverage ends at retirement if occurring prior to age reductions.
AD&D: Amount is equal to life coverage and not available on dependent life plans. Rate is $.02 per $1,000.
Carrier Contact Information
Symetra: Life and AD&D
Customer Service: 800-796-3872
Website: www.symetra.com
Forms & Plan Documents
STD Coverage
Eligibility
All employees working 30 or more hours per week are eligible to enroll. Eligibility for newly hired employees is first of the month coinciding with or after 30 days of full-time employment.
Voluntary Short-Term Disability
Elimination Period: Benefits begin on the 1st day after an Accident, or 8th day after an illness
Max Benefit Duration: 13 weeks for Exempt employees and 26 weeks for Non-exempt employees.
Maximum Benefit: 66 2/3% of salary or $500 for Non-exempt employees and $1000 for Exempt employees.
Carrier Contact Information
Symetra: Short-Term Disability
Customer Service: 800-796-3872
Website: www.symetra.com
Forms & Plan Documents
Long-Term Disability
Eligibility
All exempt employees working 30 or more hours per week are eligible to enroll. Eligibility for newly hired employees is first of the month coinciding with or after 30 days of full-time employment.
Long-Term Disability
Elimination Period: 90 Days after the onset of a disability or illness.
Max Benefit Duration: Varies depending on age at benefit start.
Maximum Benefit: 60% of salary up to $12,000.
Value-Added Programs
Employee Assistance Program (EAP) with Will Preparation
Finds the resources employees need to help with a variety of issues such as finding child or elder care, managing a serious illness or dealing with work/life issues.
1-888-327-9573 or www.guidanceresources.com
Organization ID: SYMETRA
Health Care Navigation
Encourages employees on a covered disability leave to become educated, engagedconsumers in their health care.
1-866-263-4365
Travel Assistance
Provides support when employees are traveling 100 miles or more away from home.
1-877-823-5807 from North America or 240-330-1422 from anywhere
Identity Theft Protection Program
Helps protect employees from ID theft while providing support in the event their identity is stolen.
1-877-823-5807 from North America or 240-330-1422 from anywhere
Beneficiary Companion
Offers a helping hand for families after a loss.
1-877-823-5807
Carrier Contact Information
Symetra: Long-Term Disability
Customer Service: 800-796-3872
Website: www.symetra.com
Forms & Plan Documents
Employee Assistance Program (EAP)
Eligibility
The EAP program is free to all employees and their household members
EAP Details
NewsBank’s EAP Program is administered by Magellan Health. The Employee Assistance Program (EAP) through Magellan Healthcare provides professional services to address a variety of personal, family, life, and work-related issues. EAP benefits are 100% confidential.
Website: https://member.magellanhealthcare.com/
- Organization: NewsBank, Southwestern Imaging Services, or SIS
Phone: 1-800-523-5668
Some of the key features of the program are:
- Coaching
- Counseling
- Digital and Emotional Wellness Tools
- Legal Assistance, Financial Coaching & Identity Theft Resolution
- Work-Life Balance Services
- Wellness Resources
People often need to take advantage of available resources, resulting in continuing struggles. Your program is here to help you along the journey of life. No situation is too big or too small. When you and your household members need assistance, reach out anytime, and we will help get you on the right path to meet your needs.
Employee Assistance Program: Magellan Health
Member Services: 800-523-5668
401(k) Retirement Plan
Eligibility
401(k) Plan Details
NewsBank,Inc. offers a 401(k) plan to employees through Fidelity. Fidelity offers a wide selection of investment options and excellent online technology to help you better plan for retirement. Basic plan details are listed below and outlined in more detail in the Summary Plan Description. If you have questions about the plan, you can send an email to HelpRetire@therichardsgrp.com to receive assistance from TRG Retirement Plan Consultants. You can also call Fidelity directly at 1-800-835-5097 or access your account online at http://www.fidelity.com/atwork.
Retirement Plan Contacts
SmartConnect- Medicare Resource
The Richards Group has partnered with SmartConnect™, an exclusive, no-cost program created specifically to connect Medicare-eligible working adults to the world of Medicare benefits. Whether an employee plans to continue working or is transitioning to retirement, we tailor solutions designed around their needs. Our agents provide an unfiltered view of the entire range of options and prices available to the employee.
SmartConnect Contact Information
For more information or to get started, please click on the following link: https://gps.smartmatch.com/therichardsgroup
Additional Information
My Tuition Assistance Benefits
Our tuition assistance program is designed to help employees pay back student loan debt and improve their financial well-being.
Utilizing the relationship with The Richards Group, consultation services provided through GradFin are provided free of charge. GradFin is a new employee benefits program revolutionizing how employees can reduce their student loan debt.
GradFin will provide:
- One-on-one education consultations with GradFin Consultation Experts to review your current loan status and discuss personalized payoff options to save on your loans.
- GradFin will offer a competitive interest rate reduction when you refinance your loans.
- GradFin will offer the lowest interest rates in the industry through their lending platform which is made up of ten lenders to maximize the chances that you will be approved for a new loan.
- For more information or to schedule a one-on-one consultation visit: http://www.gradfin.com/platform/trg
Phone: (844) GRADFIN
Website: http://www.gradfin.com/platform/trg
The Wellness Outlet
We offer our employees discounts through the Wellness Outlet!
Enter account code RICHARDSGRP at The Wellness Outlet for access to discounts of 18-40% off retail price of fitness trackers from Fitbit and Garmin, plus free shipping to your home.
Website: https://www.thewellnessoutlet.com/