MVP Health Care - Benefits of MVP

401K Plan

Employee Eligibility:
Employees 21 years of age or older may contribute towards retirement upon beginning employment with MVP. Employee may contribute up to 50% of salary to the annual IRS maximum.

Company Contributes:
After one year of continuous service, employer contributes a discretionary contribution currently set at 4% of salary and matches first 4% of employee contribution at $.50/$1.00 (or up to 2% of salary) for participants.

Sliding Vesting Scale
Applies to matching contributions only – employee is always fully vested in their own contributions and in the employer discretionary (4%) contribution.

Catch-Up Contribution:
Employees who are 50 years old, or will turn 50 during the plan year, may contribute an extra amount according to IRS guidelines.

Flexible Benefits Plan
Effective Date:
First day of employment

Cost:
No cost to employee to participate

Eligibility:
All Full-time, Part-time Benefits Tier 1 and Tier 2, and Job Share employees working more than 15 hours per week are eligible for this benefit.

Benefit:
Employee can allocate pre-tax wages to the program to cover the cost of dependent care expenses, out-of-pocket medical expenses, and over-the-counter drugs and receive tax-free reimbursements for these expenses. Debit card available.

Group Insurance Program
MetLife -Discounted auto, home and personal property insurance available on a voluntary basis. Special group rates and hassle-free payment options, including payroll deduction.

Direct Deposit
Effective Date:
First day of employment

Cost:
No cost to employee to participate

Eligibility:
All employees whose banking institution accepts direct deposit and available for up to three different bank accounts.

Credit Union
Option to join First New York Federal Credit Union, Empire Federal Credit Union (for Syracuse area employees), and Summit Federal Credit Union or ESL Federal Credit Union (for Rochester employees).

Tuition Assistance
Effective Date:
Ninety (90) days after date of employment (must be employed at start of the class)

Cost:
No cost to employee to participate

Eligibility:
Full-Time and Part-Time Tier 1 and Tier 2 Coworker.

Benefit:
The company will reimburse a coworker for the tuition cost (but not fees, books, etc.) based on the following levels for job-related courses, with a maximum benefit of $2,500 per course; limited to three course per calendar year (12 credits per year).

	Full-time coworker reimbursement amount	Part-time Tier 1 coworker reimbursement amount	Part-time Tier 2 coworker reimbursement amount
%	90% course cost	80% of FT benefit	50% of FT Benefit

Business Travel/Expense Reimbursement
Benefit:
Reimbursement is provided for expenses incurred as a result of business travel (ie. Meals, hotel, rental car, etc.).

New York's 529 College Savings Program
Administrator
NYS Higher Education Services Corp. and the Office of the State Comptroller.

Effective Date:
Immediately upon hire

Cost:
0.6% management fee. Minimum payroll deduction of $15 per pay period.

Eligibility:
Open to all US Citizens and resident aliens. Any MVP coworker can contribute until the account totals $235,000, and all NYS residents can deduct up to $5,000 of contributions (or $10,000 for a married couple filing jointly) on their NYS income tax return each year.

Benefit:
Your assets grow federal income tax-deferred, and earnings on your withdrawals are exempt from federal income tax and on NY State income taxes when used for qualified higher education expenses. Use the account to pay for tuition, fees, books, room and board, and supplies at any eligible post-secondary school in the US and abroad.

Employee Assistance Program (EAP)
EAP is through Guidance Resources and is available to all coworkers, their spouse & their dependents.

Free Parking
Available to all employees

State of the Art Fitness Facility
Located in Schenectady and Rochester offices and available free of charge to all employees

Flexible Schedules

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Note: This summary of benefits does not constitute a written or implied contract for the MVP benefits of employment. It is merely an overview of benefits currently provided. The contracts for each of the insurances listed and the MVP Personnel Policy Manual govern where questions arise. MVP reserves the right to revise or change these benefits at its sole discretion.

MVP is an Equal Opportunity/Affirmative Action Employer