a career at Bio-Rad
Bio-Rad's benefits offerings is a quality benefits program that: Offers affordable choices from a comprehensive set of plans Covers the full range of life-stage needs Provides basic security from catastrophic loss Encourages wellness Cultivates a partnership between you and Bio-Rad Allows Bio-Rad to remain competitive in the marketplace
All active, regular status employees who work at least 20 hours per week are eligible for Bio-Rad's Benefits Program, unless specified otherwise. Also, subject to plan rules, your legal spouse, eligible domestic partner, and financially dependent who relies on you for more than 50% support, unmarried children are eligible for medical, dental, vision, and certain survivor benefits. Ineligible for coverage, however, are: independent contractors; leased, temporary and casual employees; and dependents that are full-time members of the armed forces. Please note, if you are covered by the Collective Bargaining Agreement, your benefits will differ slightly.
Medical, Dental, and Vision Coverage Plans that help you meet your healthcare needs are the foundation of Bio-Rad's Benefits Program. You can enroll in any or all of the plans without enrolling in the others. In addition, Bio-Rad provides, at no cost to you, an Employee Assistance Program to enhance your mental and emotional well-being. As a Bio-Rad employee you will be asked to contribute a small amount of your pretax income toward healthcare coverage for you and your family.
Medical Bio-Rad strives to offer choices in how and where you receive medical services — and in what you pay for them. In most locations, Bio-Rad provides four medical plans to choose between:
The Low, Medium, and High Deductible Plans
The Low, Medium, and High Deductible Plans use a Preferred Provider Organization (PPO) to give you and your family coverage for a wide range of medically necessary services including doctor's office visits, emergency care, surgery, hospitalization, prescriptions, annual physicals, and much more.
You may choose from carefully selected PPO network providers, and the plans will pay 90% of your covered medical expenses after you pay a deductible. You also have the option of seeing a provider who is not part of the network. If you choose a non-network provider, the plans will pay 50% of covered expenses after you pay a deductible.
If you live outside the United States, you will be covered by the Out of Area Plan, which pays 80% of eligible expenses after you pay a deductible.
Health Maintenance Organizations (HMOs)
Employees in most locations can also choose an HMO for medical coverage. HMOs emphasize preventive care, and most require that you select a Primary Care Physician (PCP) who will coordinate all your medical care.
HMOs are very cost-effective because, generally, most eligible services are covered at 100% after a small copayment. However, you must receive all nonemergency services from HMO providers.
The chart below shows the HMOs available to Bio-Rad employees.
Dental The Bio-Rad Dental Plan is provided through Delta Dental, a leading network of dentists. In general, the plan covers most necessary services including preventive and diagnostic care, crowns, bridges, oral surgery, orthodontia, and more — subject to plan maximums.
As with the Low, Medium, and High Deductible Plans, you have the choice of selecting care in or out of the network, and your benefit level will reflect that choice. If you use network providers, you will not have to pay a deductible and your benefit will be higher than if you go outside the network.
Vision The Vision Service Plan (VSP) provides comprehensive vision care, including examinations and corrective materials for a minimal copayment. You may use network or non-network providers.
Employee Assistance Program (EAP) The EAP provides confidential no-cost counseling you and your dependents can turn to when life sends challenges your way. Available 24 hours a day, EAP's professional counselors can help you with personal problems, bereavement, financial difficulties, substance abuse, and so forth. You can also obtain referrals to dependent care and get access to a variety of information available online.
To help with the task of planning for your family's security, Bio-Rad provides Basic Life, Accidental Death and Dismemberment, and Business Travel Accident Insurance at no cost to you. If you need additional coverage, Additional Life and Voluntary Accident Insurance are available to you and your eligible dependents at competitive group rates.
Sometimes illness or injury is unavoidable. If an illness or injury keeps you away from work for an extended period of time, Bio-Rad's Short-Term and Long-Term Disability Plans are designed to replace a portion of your income.
Short-Term Disability The Company-paid Short-Term Disability (STD) Insurance can replace up to 90% of your earnings to a maximum weekly benefit of $3,460 if you are unable to work due to a non-industrial illness, injury, or pregnancy. Benefits begin after 7 consecutive days of disability and can continue for up to 90 days. California employees are required to participate in State Disability Insurance (SDI) as well.
Long-Term Disability If your disability continues beyond 90 days, you may be eligible for company-paid Long-Term Disability (LTD) Insurance. LTD can replace up to 66 2/3% of your monthly earnings, to a maximum monthly benefit of $15,000. Your LTD benefits can continue until you are able to return to work or reach age 65.
It's never too early to begin planning for the future. Bio-Rad offers two plans to help you reach your long-term financial goals and share in the success of the company.
The 401(k) Profit Sharing Plan This qualified 401(k) plan allows you to invest 1% to 50% of your pay on a pretax or after-tax basis. You control your savings by selecting to invest in a variety of funds. Your savings compound over time. Every quarter, in addition to the money you invest, Bio-Rad adds a Profit Sharing contribution to your 401(k) account, depending on the company's financial performance. Bio-Rad believes in the importance of saving for retirement and helps you through this profit sharing feature.
Employee Stock Purchase Plan The Employee Stock Purchase Plan provides you with a long-term investment opportunity that can increase your sense of involvement with and ownership of the company. Eligible employees can contribute 1% to 10% of their after-tax income through payroll deductions, which are used quarterly to purchase Bio-Rad stock at a discount.
Please remember that the Asset Accumulation Plans, like any investments, could experience losses as well as gains.
Bio-Rad supports a variety of additional benefits and programs to help meet your needs.
Flexible Spending Accounts Bio-Rad offers two Flexible Spending Accounts — one for healthcare and one for dependent care — that offer tax savings by letting you pay for qualified healthcare and child/elder care expenses on a pretax basis.
Paid Time Off Time off for recreation, recuperation, or caring for a family member is essential to successfully balance your work and life needs. Bio-Rad recognizes this important need by giving you flexibility in time away from work through the Paid Time Off (PTO) program.
Bio-Rad's PTO program combines accrual, sick leave days, and three floating holidays into a single time-off "bank". You can use this time in your "bank" when and how you need it, subject to your manager's approval. Your PTO time accrues on a biweekly basis throughout the year based on length of service. If you leave Bio-Rad, your unused PTO will be paid out to you.
Holidays Bio-Rad provides eight paid holidays per year.
Educational Benefit Bio-Rad supports your professional development by reimbursing up to $4,000 per year for qualified educational expenses.
The 529 College Savings Plan The 529 Plan is a great way for you to save for a loved one's higher education through payroll deductions. Earnings on the money you save are Federal tax deferred and Federal tax free for qualified withdrawals. You can control your savings by selecting to invest in a variety of funds. In addition, the plan has several other features to help you plan for higher education expenses.
Group Legal Plan When you need an attorney, the Group Legal Plan puts qualified legal help within reach. You can speak with a Plan Telephone Attorney or visit the attorney of your choice — network or non-network. Covered services include legal advice, will preparation, durable power of attorney, consumer and property protection, adoption proceedings, dissolution of marriage, Federal income tax guidance, and many other common legal needs.
Group Long-Term Care Most people know someone who needs long-term care for needed assistance with personal daily activities such as bathing or dressing. Many of us have already provided this kind of personal care to a loved one. And many of us will one day need this kind of care ourselves. This is why Bio-Rad sponsors a voluntary group long-term care plan through John Hancock for you and/or your eligible relatives. Generally, this policy is to provide a simple and affordable solution to cover services received in your own home, conventional nursing home, and other types of care facilities.
Specialty Insurance You have access to a wide array of specialty insurance services through Answer Financial, Inc. Are you paying too much for your homeowner's insurance? Do you have a boat or classic car that you need to insure? Answer Financial does the legwork for you by providing you with competitive quotes and side-by-side comparisons for auto, home, and life insurance from over 150 top-rated companies.
