U.S. 2016 Health and Insurance Benefits

Recognizing that our employees represent diverse backgrounds and have unique personal needs, Monsanto offers a Health and Insurance Benefits Program that allows you to tailor your own benefits package. Each year, Monsanto provides choices and you select the benefits that best fit your needs for the coming year. If your situation changes, you'll be able to change your elections next year. However, if you have a change in status, you may be able to change your elections during the current calendar year.

Medical

The Monsanto Medical Benefits Plan (“Plan”) provides three PPO Plan options, the Health & Savings Advantage Plan option (a high-deductible health plan option that can be coupled with a health savings account), and, in some locations, a Health Maintenance Organization (HMO) option. You can elect to cover yourself only or you can elect coverage for yourself and eligible dependents, including an eligible domestic partner. You can also decline coverage. If you elect medical coverage, your coverage will be effective on your first day at work.

Three Levels of PPO Plan Option Benefits

If you elect coverage under a Monsanto Medical Plan PPO option, you'll have three choices with different levels of benefits: high, middle, low. Within each choice, you will have the option of using network healthcare providers ("in-network") and getting enhanced benefits or using non-network providers ("out-of-network"). When you use in-network providers for preventive care, your visit is covered at 100%. For other medical care, once the individual or family annual deductibles are reached, Monsanto shares the cost of coverage with you through co-insurance. Once your expenses exceed the out-of-pocket maximum, the Plan pays 100% of your covered expenses for the remainder of the year.

The Health & Savings Advantage Plan Option Benefits (a high-deductible health plan)

If you elect coverage under the Health & Savings Advantage Plan option, you may open a voluntary health savings account (HSA). An HSA is a financial savings tool that can help you set aside money to pay for qualified health care expenses now and in the future, including retirement. Monsanto contributes to your HSA and you can, too. This Plan option provides access to the same broad network of providers as the PPO Plan options and also covers preventive care services at 100% when you use in-network providers. For other medical care, once the deductible is paid (there are no co-pays), Monsanto shares the cost of coverage with you through co-insurance. Once your expenses exceed the out-of-pocket maximum, the Plan pays 100% of your covered expenses for the remainder of the year.

Best Doctors

Best Doctors is part of the Medical Plan and provides convenient access to some of the leading medical experts and specialists in the world to help you get a second opinion as to whether you have the right diagnosis, treatment and care. This benefit is available at no additional cost to you and your dependents covered under the Plan.

Telemedicine

Telemedicine is available for those enrolled in the Monsanto Medical Plan PPO or the Health & Savings Advantage Plan options. Provided through Teladoc, telemedicine offers you and your covered family members real-time phone or video conferencing consults 24/7/365* with a board-certified physician. Telemedicine is intended for minor illness and injury, such as cold and flu symptoms, allergies and respiratory infections. If necessary, medications can be prescribed. There is a fee for consults, but it is typically less than a traditional office visit.

* Some states may limit access to telemedicine

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Prescription Drug Card Coverage*

If you are covered under a PPO Plan option or the Health & Savings Advantage Plan option, you also receive prescription drug coverage through Express Scripts. The Plan covers expenses for drugs and medicines prescribed by a doctor and dispensed by a licensed pharmacist. Your co-insurance at participating pharmacies is 20% for generic or preferred brand name drugs (up to a per prescription maximum limit of $25 for generic prescriptions and $50 for preferred brand name prescriptions) or 40% for non-preferred brand name prescriptions for a maximum 34-day supply. If you are covered under the Health & Savings Advantage Plan option, you pay 100% of the costs until your deductible is met, then co-insurance applies.

Please note: If you or your physician choose a brand name drug when a generic is available, your co-insurance will be the generic co-insurance plus the difference in cost between the brand name drug and the generic drug. Also, Mail Order is required for long-term or maintenance medications after two fills at a retail pharmacy.

* Most HMO options have their own prescription drug coverage

Medical Coverage Cost

The cost of coverage depends on the coverage level you elect and whom you elect to cover — but your personal contributions are a relatively small share of the total cost of medical protection provided by Monsanto. Your contributions for coverage will be deducted from your paycheck as soon as administratively possible after you enroll. However, your medical coverage will be effective on your first day at work.

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Health Savings Account

If you enroll in the Health & Savings Advantage Plan option, you may be eligible to open and contribute to a health savings account (HSA). The HSA is a tax-advantaged savings vehicle that may be used to pay for current and future qualified health care expenses — even into retirement. Monsanto contributes to your account if you are an active employee and you can, too, up to annual IRS limits. You may invest your funds to help your account grow over time, and your HSA is always yours, even if you change medical plans or job status.

The HSA offers a triple-tax advantage: your contributions, investment earnings and distributions for qualified health care expense are federal tax-free. The HSA provides a tax-free method of reimbursement for many current and future out-of-pocket health care expenses not fully paid for or not covered by your Medical, Dental or Vision Plan choices.

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Flexible Spending Accounts

The Flexible Spending Account Plan allows you to set aside pre-tax dollars into a Health Care Flexible Spending Account (up to $2,500 per year), a Dependent Care Flexible Spending Account (up to $5,000 per year or $2,500 per year if you are married and filing a separate income tax return) or both for the reimbursement of certain qualifying out-of-pocket expenses.

Please note: You cannot participate in for the Health Care Flexible Spending Account if you enroll in the Health & Savings Advantage Plan option or any other high-deductible health plan option.

You pay no federal income tax or Social Security tax on what you have deposited. When you have eligible expenses, you pay the bill as you normally do, but then you submit a claim and are reimbursed with those untaxed dollars in your account. Through these programs, you're paying your bills with "tax-free" dollars!

The Health Care Flexible Spending Account provides a tax-free method of reimbursement for many out-of-pocket health care expenses not fully paid for or not covered by your Medical, Dental or Vision Plan choices. Participants in the Health Care Flexible Spending Account receive a Health Debit Card, which may be used to pay for eligible expenses instead of submitting claims for reimbursement.  

The Dependent Care Flexible Spending Account provides tax-free reimbursement for expenses which provide for the care of a qualifying dependent child or adult and which enable both you and your spouse to work – or you to work if you are single or if your spouse attends school full-time or is disabled.

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Dental

Two Levels of Benefits

The Dental Plan is designed to help pay the expenses of dental care. Two levels of dental benefits are offered — high and low. Within each choice, you will have the option of using network providers ("in-network") and getting enhanced benefits or using non-participating providers ("out-of-network").

For in-network benefits, the high option pays a percentage of reasonable and customary (R&C) expenses — 100% diagnostic / preventive, 80% after a $50 deductible for more complex procedures. The low option pays a lower percentage of R&C expenses — 80% for diagnostic / preventive procedures, 65% for more complex procedures — with the same $50 deductible for more complex procedures.

Diagnostic / preventive procedures include oral exams, x-rays, cleaning and scaling of teeth, and simple extractions.

Examples of more complex procedures include root canals, crowns, bridges, non-precious metal fillings and dental surgery.

Orthodontia services (braces) are covered under both the high and low options for children through age 18, and only when medically necessary for adults.

Under the high option, a covered individual can receive benefits up to $2,000 each year. The low option provides up to $1,500 each year. There is a separate orthodontia lifetime maximum of $1,650 per covered individual under the high option — $1,250 per covered individual under the low option.

If you use an out-of-network provider, you will be responsible for any amounts that exceed the maximum amount allowed in the area as well as your out-of-network deductible and co-insurance.

You can elect coverage for yourself only or you can elect coverage for yourself and eligible dependents, including an eligible domestic partner. Your cost depends on the option you elect and whom you elect to cover. You can also decline coverage.

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Vision

Vision Plan

The Vision Plan benefit is paid for entirely by you through payroll contributions. You will have the option of using network providers (“in-network”) and getting enhanced benefits or using non-network providers (“out-of-network”). The Vision Plan provides benefits for eye exams, spectacle lenses and frames or contact lenses.

If you use an in-network provider, after paying a small co-pay, you are covered for an annual vision examination, eyeglass lenses and frames once per calendar year or corrective vision contact lenses in lieu of frames and eyeglass lenses once per calendar year. You may select frames within the frame allowance or you may select from more expensive frames and pay the amount over the frame allowance. Also, you may order contacts online and certain discounts are available for sunglasses at Sunglass Hut.

You can elect to cover yourself only or you can elect coverage for yourself and eligible dependents, including an eligible domestic partner. You can also decline coverage. If you do not elect to participate in the Vision Plan, you can take advantage of EyeMed’s discount card program.

Discount Card Program

Eligible individuals who do not elect to participate in the Vision Plan are able to take advantage of a free discount card program, which offers immediate savings on your eye care needs. There is no election to make. The discount program is available through more than 10,000 participating providers at locations such as Pearle Vision, Sears, JCPenney, LensCrafters, Target and other private practitioners.

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Disability

The Disability Plan protects you from severe financial hardship by continuing a portion of your base pay for an extended time. The Plan is designed to supplement amounts you receive from other programs like Social Security and Workers' Compensation.

The Disability Plan provides immediate short-term disability benefits equal to 100% of your annual base pay if you are unable to perform, with or without reasonable accommodation, the essential duties of your job or any other Monsanto job for which you are, or may become, qualified based on training, education and experience.

If you continue to be eligible for disability benefits after six months, then the long-term disability option you elect will apply. You can choose from two levels of protection:

  • 65% of base pay, or
  • 65% of base pay plus a 4% annual adjustment.

Both options provide the same percentage of pay replacement. However, under the second option, there is an annual increase (like a cost of living adjustment) to your monthly benefit amount equal to 4%. This adjustment would be made for the first time during the 19th month from your last day worked and then made annually after that as long as benefits continue to be paid.

Depending on the nature of your disability, long-term benefits can extend for 18 months (following six months of short-term benefits) or to age 65.

Your cost depends on the option you choose. Monsanto pays the cost for the 65% of base pay option. If you elect, the 65% of base pay plus a 4% annual adjustment option, you will be responsible for paying the additional premium cost.

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Life Insurance

Employee Term Life Insurance

The Life Insurance Plan helps provide financial security to you and your family during your active career. Monsanto pays for coverage equal to two times your annual base pay at no cost to you. You can elect less or purchase additional coverage on your own.

You have up to nine life insurance choices — ranging from one times to eight times your annual base pay, or $50,000. Choices above three times your annual base pay or $1 million require proof of insurability.

In addition, the Plan provides Accidental Death and Dismemberment Insurance (for accidental death or loss of a limb, sight, speech or hearing as a result of an accident) and Business Travel Accident Insurance (for people required to travel on company business) — at no cost to you.

Supplemental Accidental Death and Dismemberment Insurance (SADDI)

The Supplemental Accidental Death and Dismemberment Insurance Plan is another form of insurance available to protect you and your family from the unexpected. This Plan offers up to five coverage choices (up to $500,000, in $100,000 increments). It pays the full benefit amount if you die in an accident or part of that amount if you suffer certain losses in an accident (for example, loss of sight, hand, foot, speech, or hearing).

You can elect coverage for yourself only or yourself and eligible dependents from among the dollar coverage amounts available to you. If you elect coverage for yourself and your family, your eligible family members are covered for a percentage of the chosen benefit amount in the event of their death or the losses described above.

Your cost for SADDI coverage depends on the coverage option you choose and whether you elect coverage for yourself only or yourself and eligible dependents. Coverage under SADDI is paid entirely by you.

You can also decline coverage.

Spouse/Domestic Partner Term Life Insurance

The Spouse/Domestic Partner Term Life Insurance Plan pays a benefit to you if a covered spouse or domestic partner dies from any cause. You have six choices of coverage — from $5,000 protection, up to $250,000 protection for your covered spouse or domestic partner. Choices above $25,000 require proof of insurability.

Your cost depends on the coverage option you choose and your age as of January 1 of the calendar year. Coverage under the Spouse/Domestic Partner Term Life Insurance Plan is paid entirely by you.

You can also decline coverage.

Child(ren) Term Life Insurance

The Child(ren) Term Life Insurance Plan pays a benefit to you if a covered dependent child dies from any cause. You have six choices of coverage — from $2,500 protection for each covered child, up to $25,000 protection for each covered child.

Your cost depends on the coverage option you choose. Coverage under the Child(ren) Term Life Insurance Plan is paid entirely by you.

You can also decline coverage.

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Other Benefits

Work Life Resource & Referral Service & EAP

Monsanto offers a work/life resource and referral service for any employee facing the challenges of balancing work and personal life. This service includes a full range of dependent and life management services, such as:

  • Prenatal and adoption planning
  • Evaluating child care arrangements
  • Locating summer camps
  • Profiling schools (from preschools to colleges)
  • Researching financial assistance for college
  • Assisting with elder care responsibilities, from long-distance care giving to finding the right nursing home for an elderly loved one
  • Providing support and resources for children with developmental disabilities through Autism Assist

Outside counselors provide individuals with practical information and useful answers to a wide range of questions. And, most importantly, counselors make referrals directly to the agencies and programs that offer appropriate services in your local area or in other areas of the country. Counseling and referral services are available free of charge; however, individuals are responsible for the fees associated with the services they select.

The Employee Assistance Program (EAP) provides confidential counseling for covered individuals and their dependents. Counseling services are available for a broad array of personal and emotional problems — family difficulties, marriage counseling, financial concerns, stress, dependent care issues or emotional concerns.

The EAP is a prepaid benefit offered by Monsanto. If you are referred to additional resources for help and you elect to use those resources, you are responsible for any fees associated with those additional resources.

Group Legal

The Monsanto Group Legal Plan provides you with telephone and office consultations for personal legal matters specifically covered by the Plan. Each consultation is provided by an attorney you choose from a national network of approximately 9,000 attorneys throughout the 50 states and U.S. territories.

The Group Legal Plan is administered by Hyatt Legal Plans, Inc.

The cost to participate is paid entirely by you. You can also decline coverage.

Identity Theft Protection

The Identity Theft Protection Program (Defender) monitors your personal, health and financial information 24/7 to help protect you against identity theft or online data breeches. You may elect to cover yourself only or yourself and eligible family members. Monsanto employees receive a discounted group rate, plus get the convenience of after-tax payroll deduction.

Defender is administered by MetLife.

The cost to participate is paid entirely by you. You can also decline coverage.

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