Your Plan Contributions
For full-time employees, Provident Credit Union pays for the full cost of coverage for employee only coverage on the Anthem and Kaiser HDHP Medical, Cigna Dental, and VSP Vision plans as well as Basic Life, AD&D, STD, and LTD coverage. You share in the cost of coverage for other plans and coverage levels.
In general, you pay for health coverage before federal, state, and Social Security taxes are withheld. Please note that unless your domestic partner is your tax dependent as defined by the IRS, contributions for domestic partner coverage must be made after-tax. Similarly, the company contribution toward coverage for your domestic partner and his/her dependents will be reported as taxable income on your W-2. Contact your tax advisor for more details on how this tax treatment applies to you. Notify Provident Credit Union if your domestic partner is your tax dependent.
Provident employees who have other medical insurance and choose to waive Provident benefits they are otherwise eligible for are eligible to receive an opt-out credit of $100 per pay period. To receive the credit, you must waive medical in the enrollment system and provide proof of other coverage to HR. The opt-out credit is paid on a go forward basis after proof of other coverage is confirmed. You may still enroll in the dental and vision plans.
Costs are per bi-weekly pay period (26 per year).
Domestic Partner Coverage
Please note that unless your domestic partner is your tax dependent as defined by the IRS, contributions for domestic partner coverage must be made after-tax. Similarly, the company contribution toward coverage for your domestic partner and his/her dependents will be reported as taxable income on your W-2. Contact your tax advisor for more details on how this tax treatment applies to you. Notify Provident Credit Union if your domestic partner is your tax dependent.