When looking for a new job, exceptional company benefits are always an important factor in deciding whether you say yes or no to that promising offer. Orthofix employees enjoy great benefits, from excellent medical and dental coverage, to extra holidays that you can use at your discretion. We know it's not just finding the right job that is important for today's career-minded individuals, but finding the right company.
Find out what Orthofix has to offer by reading the following general summary of plan benefits. More complete descriptions of benefits and the terms, under which they are provided, including limitations and exclusions, are contained in the Group Insurance Certificate Booklets and Employee Handbook.
Medical, dental, and vision insurance premiums and healthcare and dependent care flexible spending accounts are on a pre-tax basis through the Section 125 Group Benefit Program.
Medical and Dental Insurance — Blue Cross Blue Shield of Texas
- Two medical plan options - $15 or $40 employee copay for in-network physician office visit
- Please refer to Medical Plan Summaries for Plan 1 and Plan 2 to compare the differences in benefits
- Dental preventive care covered at 100%, $1,500 calendar year dental maximum plan benefit and $1,500 orthodontia maximum benefit (per individual)
- Dependents may be covered until age 25, regardless of student status
- Effective Jan. 1, 2003, domestic partners can be covered as dependents
Vision Insurance — Superior Vision Plan
- Free vision coverage for all employees, small charge for dependent coverage
- In-network and non-network benefits for comprehensive exam, standard lenses, frames or contact lenses
Dependent Care Flexible Spending Account
- Can allocate up to $5,000 in pre-tax dollars per calendar year for day care expenses for dependents
Healthcare Flexible Spending Account
- Can allocate up to $4,000 in pre-tax dollars per calendar year toward certain medical, hospitalization, prescription drug, dental and vision out-of-pocket expenses
Basic Life Insurance/AD&D — Unum Life Insurance Company of America
- The company provides basic life insurance and Accidental Death and Dismemberment (AD&D) coverage for employees. Non- commission employee coverage - one times base salary to a maximum of up to $400,000. Straight commission employees have a flat amount of $50,000.
- Can purchase optional dependent life insurance for spouse and children
Voluntary Term Life/AD&D Insurance — Unum Life Insurance Company of America
- Employees can purchase additional life insurance up to five times annual salary to a maximum of $500,000 for employees; dependent coverage for spouse and children is also available. Cost is based on age category and smoker vs. non-smoker rates.
Short and Long Term Disability — Unum Life Insurance Company of America
- Short term disability coverage is 80% of your salary after an absence of 10 consecutive days missed
- Long term disability coverage is 60% of your salary at time of disability and starts on the 91st day of disability and continues until you are no longer disabled or according to the schedule found in your long term disability booklet
- This benefit is provided free by the company
Retirement (401k)
Orthofix Inc. has established a voluntary defined contribution retirement plan for its employees administered through The Principal Financial Group.
Employees are eligible to participate in the plan the first of the month after completing thirty (30) days of service. They can participate by contributing a percentage of their Gross Pay (up to certain maximums) on a pre-tax basis. Though these contributions are deducted from current income, income taxes will be deferred until withdrawn, but withdrawals are severely restricted. There are a variety of investment options available. The company pays all administrative costs of the plan and matches the first 2% at 100%, next 4% at 50% up to 6% of your pre-tax contributions. Full vesting of the matching contributions occurs after five years service.
Additional information and a booklet which explains the plan in detail, the provisions of which govern the plan, is available from Human Resources.
All of the above benefits are effective the first of the month following 30 days of employment.
Sick Leave
Each Orthofix Inc. employee is eligible for sick leave for illness or other personal business. See Employee Handbook for further details.
Vacation
As a new hire, you are eligible for a pro-rated number of vacation days depending upon your hire date. You are allowed 10 days of vacation (80 hours) your first full year through the completion of three years of service. After three years of service, the amount of vacation time increases according to the vacation schedule.
Holiday Schedule
Orthofix provides nine holidays each year as a benefit to employees. The company also provides three floating holidays resulting in a total of 12 holidays per year. New hires have a pro-rated number of floating holidays depending upon their hire date.
Business Travel Accident Plan
Business travel accident insurance coverage is provided to all officers, managers and other employees that travel on business for Orthofix Inc. This plan provides coverage for business travel in the U.S. and overseas.
Stock Purchase Plan
The Employee Stock Purchase Plan year runs from January 1 through December 31. Orthofix International N.V.’s stock (the Nasdaq symbol is: OFIX) can be purchased through payroll deductions at 85% of "fair market value" at the beginning of each Plan year.
Tuition Reimbursement
The company will pay the costs of tuition, required textbooks, lab fees, and registration fees required for job-related courses, after prior approval by the employee's supervisor and Human Resources.
Employee Assistance Program
An Employee Assistance Program (EAP) is a confidential service for employees, offering guidance for problems relating to family relationships, individual frustration, depression, stress, substance abuse or other difficulties. This program is available at no cost to employees and their dependents and provided through Unum Provident.
The above is a brief overview of Orthofix Inc.'s benefit plans and is not to be used for policy determination. The summary plan description and employee manual are the final determination of benefit policy. Please contact Human Resources for further details or information on any of Orthofix Inc.'s Benefit Programs.