Hy-Vee & Affiliates Benefit Plan
Midwest Heritage, as a subsidiary of Hy-Vee, offers the same comprehensive benefit program as Hy-Vee which includes group medical, dental, disability income coverage, and life insurance. The benefit program is offered to eligible full-time employees. Coverage begins on the 61st day following employment, or at the time of a status change, if you are considered actively working. The employee incurs 25% of the premium cost for the comprehensive benefit program.
GROUP MEDICAL AND PRESCRIPTION PLAN
Medical insurance is offered through Wellmark Blue Cross Blue Shield. Three plan options are offered, giving the employee the flexibility to manage their medical needs and expenses.
Dental insurance is offered through Delta Dental of Iowa.
Short-term disability benefits begin on the first day of disability due to an accident and on the 8th day of disability due to illness. The maximum period for which benefits from one disability are paid is 13 weeks. Short term disability will pay 70% of the employee’s weekly compensation up to a maximum of $600 per week.
BASIC LIFE INSURANCE
Midwest Heritage offers its employees a $50,000 life insurance benefit. Dependent life insurance is offered at $5,000 for spouse and $1,000 for children. Basic Accidental Death and Dismemberment is part of this insurance.
SUPPLEMENTAL LIFE INSURANCE
Guarantee issue amount is $200,000 employee/$25,000 spouse, not to exceed 5 times an employee’s annual salary. Supplemental Accidental Death and Dismemberment is included with purchase of Supplemental Life Insurance. A health statement is not necessary for initial enrollment.
TAX SAVINGS PLAN
The Tax Savings Plan is a flexible-spending program in which the participant can pay for their medical expenses and dependent care expenses on a pre-tax basis. It can save tax money on certain eligible expenses. Medical reimbursement is available to employees that are eligible to participate in the Hy-Vee & Affiliates’ Benefit Plan. Dependent care reimbursement is available to any full-time employee 19 years of age or older.
Employees who work at least 20 hours per week are eligible to enroll for long-term disability insurance through Iowa Bankers. The monthly benefit amount is 66.67% of insured monthly salary to a maximum of $12,000 per month. Benefits begin on the 91st day following an accident or illness.
Full time employees are also eligible for long term disability insurance through Hartford. The monthly benefit is 50% of pre-disability earnings to a maximum of $5,500 per month. Benefits begin on the 91st day following an accident or illness.
Employees who are at least 19 years of age are eligible to enroll in the 401k plan offered through Principal. Employees may choose to contribute from 1% to 100% of their pay or a fixed dollar deduction to the 401k plan each pay period. Midwest Heritage currently matches 50% of employee contributions up to 6% of employee pay.
Effective 45 days after an employee’s initial employment date, all full-time employees and eligible part-time employees, 25 years of age and older, will automatically be enrolled in our 401k plan at a contribution rate of 3% unless they choose a different level of contribution. This percentage increases each year by 1% until they reach 10%. An employee is fully vested after six years of service.
An elective benefit plan for eligible part-time and full-time employees is available through Midwest Heritage Insurance Services. Benefits are effective on an employee’s 61st day of employment.
Benefit Options Include:
• Health Coverage
• Short Term Disability
• Critical Illness
• Vision Care
• Group term Life Insurance
• Dental Benefits
• Accident Insurance
• Cancer Insurance
• Auto, Homeowner and Renters Insurance
• Pet Coverage
• Pre-tax Options
Midwest Heritage provides sick pay benefits to all full-time employees and eligible part-time employees. Full-time employees are eligible for sick leave after 6 months of employment. The amount of paid sick leave given is based on length of service.
Part-time employees, who work at least 20 hours per week, are eligible for sick leave on a pro-rated basis according to the number of regular hours worked. Part-time employees are eligible for sick leave after 12 months of service.
Midwest Heritage provides vacation benefits to all full-time employees and eligible part-time employees. Full-time employees are eligible for paid vacation immediately upon hire, prorated based on employment date. The amount of paid vacation is based on length of service, with a maximum of 22 days per year after 15 years of service.
Part-time employees, who work at least 20 hours per week, are eligible for paid vacation on a pro-rated basis according to the number of regular hours worked. Part-time employees are eligible for paid vacation after 12 months of service.
Full-time employees receive 10 paid holidays per fiscal year (as approved by Board of Directors). A floating holiday is given if Midwest Heritage is open on a designated paid holiday.
Full-time employees are eligible for 16 hours of paid volunteer time per fiscal year to volunteer at an approved community agency, organization or community event.
Full-time employees receive up to 24 hours paid leave for the death of an immediate family member.
EMPLOYEE BANK ACCOUNTS
An Employee Plus Checking account with no minimum balance requirement and a free debit card, along with an Employee Savings account offering no minimum balance and 4% APR (subject to change) are offered to all Midwest Heritage employees.
SAFETY DEPOSIT BOX
Employees are eligible for one free 3 x 10 safety deposit box at any of our bank locations. (based on availability)