Effective March 1, 2023
At Pax Fauna, we value the well-being of our employees and recognize the importance of healthcare coverage. To support our employees in obtaining and maintaining suitable healthcare coverage, we offer a healthcare reimbursement policy. This policy outlines the guidelines and procedures for employees to receive reimbursement for a portion of their healthcare premiums. In particular, the policy is designed to encourage partners to select plans with a relatively higher premium and relatively lower other costs.
All full-time employees of Pax Fauna are eligible to participate in the healthcare reimbursement program immediately upon their start date of work. Part-time employees may be eligible on a prorated basis as determined by their employment status and hours worked.
Under this policy, eligible employees may receive up to $400 per month towards their healthcare premiums. Reimbursement is limited to the amount the employee actually pays for their healthcare premiums. If the monthly premium is less than $400, the employee will receive the amount of their premium as reimbursement.
To be eligible for reimbursement, employees must provide documentation once per year that clearly shows the amount they are paying for their healthcare premiums. Acceptable documentation includes but is not limited to:
- 1.Insurance provider statements showing the premium amount.
- 2.Annual statements from the state marketplace or insurance provider indicating the premium paid.
Employees are responsible for submitting the required documentation to the Operations Circle Lead in order to begin reimbursement. Failure to submit the documentation within the specified timeframe may result in delayed or denied reimbursement.
The healthcare stipend provided under this policy is considered post-tax and will be included in the employee's regular wages for tax purposes. Appropriate payroll taxes will be deducted from the employee's paycheck accordingly.
Employees are strongly encouraged to purchase healthcare coverage through the state marketplace, as it offers a wide range of options and potential cost savings. However, participation in the state marketplace is not mandatory, and employees may obtain healthcare coverage through other legitimate means. Reimbursement will be provided regardless of the chosen healthcare provider, as long as the coverage meets the eligibility requirements outlined in this policy.
The Operations Circle will administer the healthcare reimbursement policy and handle all related inquiries and submissions. Any questions regarding the policy or reimbursement process should be directed to the Operations Circle Lead.
This healthcare reimbursement policy will be periodically reviewed and may be revised or updated as necessary. Employees will be notified of any changes to the policy in a timely manner.
By participating in the healthcare reimbursement program, employees acknowledge their understanding and acceptance of the policy guidelines outlined above.
Pax Fauna retains the right to modify, suspend, or terminate this policy at any time, for any reason, at its sole discretion.