Health Insurance
Employees will be eligible for health insurance benefits on the first day of employment. Ventura offers two choices for health insurance: The Cigna Open Access Plus Standard and The Cigna Open Access Plus Enhanced. The Ventura Group, Inc. will pay for 60% of an employee’s and dependents’ premiums. The health insurance is a combined plan with medical and prescription. The PPO provides nationwide coverage. The employee’s share will be deducted from paychecks on a per-tax basis.
Employees are eligible to elect from two dental plans: Cigna Dental Low and High. Employees may visit any provider they want, if you select a provider in the Cigna PPO Network, you will typically receive a higher level of benefit and save on out-of-pocket money. You do not have to participate in the medical insurance to be eligible to join.
Ventura offers a Select Plus Vision Plan through Advantica. The plan provides comprehensive vision coverage through a national and regional network of providers and reimbursement for services through and vision provider.
If coverage is not elected, the next opportunity to enroll is during the open enrollment in November or immediately if there is a qualifying event (for example: termination of COBRA, divorce, birth of a child, etc.).
Disability Insurance
On the 1st day of employment, each full-time employee will automatically be enrolled in the short-term and long-term disability plans through the company’s insurance carrier Mutual of Omaha. The premiums are fully funded by The Ventura Group, Inc. These benefits provide up to 60% of salaried income in the event of a qualifying disability.
The short-term disability plan provides a weekly benefit (up to $750/week max) beginning with the 1st day of an accident and the 8th day of an illness for a maximum of 26 weeks. Long-term disability begins 180 days after the onset of the disability. The benefit is equivalent to 60% of before tax monthly earnings not to exceed the plan’s maximum monthly benefit of $10,000.
Life Insurance and AD&D
In addition to the disability insurance, upon hire, each full-time employee is covered by a life insurance policy and Accidental Death and Dismemberment (AD&D) policy with Mutual of Omaha. The employee will be enrolled for a death benefit equal to 1x salary up to $50,000.00. The Ventura Group, Inc. will fully fund the premiums for this benefit. Employees have the option to purchase voluntary supplemental life insurance as a new hire.
Flexible Spending Accounts (FSAs)
The company participates in a Medical Expense FSA and Dependent Care FSA, (maximum contributions are based on the IRS regulations). These deductions are totally funded by employee and made on a pre-tax basis.
Retirement
To provide for deductible retirement savings, The Ventura Group, Inc. has a 401(k) Plan through ADP. Employees will be eligible to defer on the 1st of the month after hire date. Each employee will be able to access the ADP website and enroll online. An employee may elect to defer compensation up to the maximum amount set by the government each year. The company will match up to 5% of the employee’s contribution vested immediately. ADP has a variety of investment funds as well as a Roth IRA that an employee may invest in.
