U.S. 2017 Health and Insurance Benefits
Monsanto offers a variety of health and insurance benefits options to meet the diverse needs of our employees.
Monsanto and its affiliates reserve the right to amend or terminate company benefit plans and programs at any time.
The Medical Plan provides several types of plan options, all of which include:
- Coverage for certain preventive care services, such as annual physicals and well-baby care, generally at little or no cost
- Coverage for doctor visits, surgery and hospital care
- Prescription drug coverage
- Coverage for mental health and substance abuse services
- Second opinion services through Best Doctors at no additional fee
In addition, there are two other services available under all Medical Plan options, except HMOs:
- Telemedicine offers real-time phone or video conferencing consults 24/7/365 with a board-certified physician for a fee that is usually less than a traditional office visit.
- Health care concierge services that help with finding network providers, explaining your health care expenses and how your health plans work, etc. They also offer 24-hour telephonic nursing support.
Health Savings Account
If you are eligible to enroll in the high deductible health plan option, you may be eligible for an HSA. The HSA is a tax-advantaged savings vehicle that may be used to pay for current and future qualified health care expenses — even into retirement. Monsanto contributes to your account if you are an active employee and you can, too, up to annual IRS limits.
Flexible Spending Accounts
Monsanto offers two flexible spending accounts: health care and dependent care. These accounts allow you to pay for eligible health care (including medical, dental and vision) and dependent care expenses (including child and elder care) on a before-tax basis, which helps reduce income taxes.
The Dental Plan offers two levels of dental benefits – one that is more comprehensive, including orthodontia, and one that is more basic, excluding orthodontia.
The Vision Plan provides benefits for eye exams, spectacle lenses and frames or contact lenses. If you don’t elect coverage, you can use the discount card program instead, which offers immediate savings on your eye care needs at a variety of participating providers.
The Disability Plan, which is automatically provided by Monsanto, protects you from severe financial hardship by continuing a portion of your base pay for an extended time.
- Short-term disability benefits equal 100% of your base pay for the first six months of eligible illness or injury.
- Long-term disability benefits start after six months and cover either 65% of your base pay or you can choose to pay for additional coverage of 65% plus a 4% annual adjustment for cost of living.
Life, AD&D and Business Travel Accident Insurance
To help provide financial security in the event of death or serious injury, Monsanto automatically provides basic life insurance (2 times your base pay), basic accidental death and dismemberment (AD&D) insurance (1 times your base pay), and business travel accident insurance (2 times your base pay).
You can also purchase additional life and supplemental AD&D coverage for you and your family.
EAP and Work/Life Resource & Referral Services
The Employee Assistance Program (EAP) provides confidential counseling for covered individuals and their dependents.
Work/Life Resource and Referral Services help you balance your work and home life by providing access to a full range of dependent and life management services, such as:
- Prenatal and adoption planning
- Evaluation of child care arrangements
- Locating summer camps
- Profiling schools (from preschools to colleges)
- Researching financial assistance for college
- Finding resources for elder care
- Support and resources for children with autism and other developmental disabilities
Counseling and referral services are available free of charge; however, individuals are responsible for any fees associated with the services they select.
With group legal coverage, you can get guidance on personal legal matters from an attorney you select from a large national network.
Monsanto’s well-being program encourages you to achieve your well-being goals in the areas you’d like to work on: physical, financial, emotional and work. You can participate in activities, learn through workshops and earn rewards.