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You will have 31 days from your hire date to elect insurance coverage for yourself and dependents. Any coverage elected will become effective your date of hire. If enrollment for insurance coverage is not completed within the required timeline, you will only be enrolled in Basic Life Insurance and Short Term Disability. Your dependents will not have any insurance coverage.
You have the choice of two medical plan options. Each option covers the same wide range of health care services and supplies, including office visits, hospitalization and prescription drugs. The options differ in how you share costs and access care.
Your medical options are:
Option 1: Basic PPO
Option 2: Health Plus Plan w/ HSA
Benefits will be provided by United Health Care. (In a few limited areas, Aetna is the provider.)
For a more detailed plan and cost information, you will find this information on the following enrollment tool: https://mybenefits.mydanaher.com Please allow up to 5 business days after your start date for access to this website. Until you have access to the above website, please go to this link http://www.danaherbenefits.com for more information.
Fortive Savings Plan (FSP) (US only): There is no waiting period to participate in the FSP. You are also immediately vested in your contributions.
Company Match: The company will match 100% of the first 3% plus 50% of the next 2% you contribute each pay date that you defer to the plan (maximum safe harbor match is 4%). Participants must complete 1 year of service to be eligible for the match. Matching contributions are calculated on a per pay period basis, based on deferrals for the pay date. Matching contributions will be 100% vested.
Company Retirement/Unilateral: Whether or not you decide to contribute to your Fortive Savings Plan account, after one year of service, the company will make a Retirement/Unilateral contribution for you, each payday. . The Basic Contribution equals 2% of your eligible pay and you pay no tax on the Basic Contribution until the time of withdrawal. Company contributions (match and unilateral) will be vested after 3 years of service with the Company.
You may contribute 1% to 75% of your eligible pay. Contribution, vesting and IRS Limit information will be emailed to your on your first day of work. Your contributions to the plan are invested, at your direction, to one or more of the available investment options.
The FSP also offers Roth 401(k) Option.
If you have any questions or concerns, please contact the Benefits Department at: [email protected].