Analog is proud to offer a comprehensive and flexible benefits program that is among the best in our industry. It provides programs to help you get – and stay – healthy. ADI benefits are designed to support your physical and financial well-being, and to help you address your needs at work and home.
Understanding your benefits and knowing how to get the most value from them is an important goal for all employees. This summary gives you a 2020 summary of ADI benefits and how they work together to help provide security for you and your family.
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For most plans, all regular employees who work 20+ hours per week, and their eligible dependents, are eligible for coverage. Coverage is generally available on your first day of work.
A substantial portion of Analog’s budget goes toward paying for employee benefits. In many cases, Analog pays 100% of the cost of benefits programs; in other cases, we ask employees to share some of the cost. Review your Benefits Costs for this year.
Good health for you and your family is one of the most important goals in life. To help protect and ensure your good health, Analog offers medical plan options that provide you with comprehensive, high-quality and flexible coverage at a reasonable price.
Two UnitedHealthcare (UHC) medical plans are offered to all U.S. employees. Both plans provide you access to the same extensive provider network, and cover the same medical and prescription services. The plans differ in the way you pay for your primary portion of the medical expenses – through payroll contributions or out-of-pocket costs when you use the plan.
The right plan for you will depend on factors such as your general health, the type of services you normally use, your cash flow needs, your family status and whether you have medical coverage available from another source.
Analog believes that good health includes good dental health, and that regular, preventive dental care is the best way to avoid costly dental problems.
The MetLife Preferred Dental Plan (PDP) allows you to go to any dentist you choose. If you use a PDP dentist, you will be charged negotiated fees, generally 15% to 45% lower than the average dentist's fees in your local area. The PDP dentist will also file claims for you.
If you go to a non-PDP dentist, you will receive plan benefits based on the reasonable and customary (R&C) fee levels for the same or similar dental services in your local area, as determined by MetLife. You may also be subject to balance billing—the difference between the amount covered by MetLife and the amount charged by your dentist.
ADI’s Vision Plan is administered by VSP. It provides coverage for routine eye care expenses including eye exams and eyewear. Exams and lenses are covered every year. Frames are covered every other year.
Life and Accident Insurance benefits help provide financial security for you and your family members in the event of death or accidental injury. You're automatically enrolled in Basic Life and Basic Accidental Death & Dismemberment (AD&D) Insurance at no cost to you. You also have the opportunity to purchase additional coverage for yourself and your family.
Your Life and Accident Insurance benefits include:
Basic Life - you are covered for an amount equal to 2-1/2 times your base salary, to a maximum benefit of $500,000.
Basic Accidental Death & Dismemberment (AD&D) - you are covered for an amount equal to 2-1/2 times your base salary, to a maximum benefit of $100,000.
Business Travel Accident - you are insured for a benefit of $350,000 if you are injured or die in an accident while traveling on company business.
Optional Life - you may select coverage for an additional 1 to 5 times your base salary, to a maximum benefit of $2,000,000
Optional Accidental Death & Dismemberment (AD&D) - you may select coverage for an additional 1 to 5 times your base salary, to a maximum benefit of $500,000.
Dependent Life - you can cover your spouse, your child(ren), or both. For children (up to age 26), coverage options are $5,000, $10,000, or $20,000. For spouse, coverage options are $10,000, $25,000, $50,000, $75,000, or $100,000.
If you become disabled and unable to work, the loss of your regular income could become a serious financial hardship. Analog provides disability benefits that replace a portion of your regular pay during your approved disability. These benefits provide valuable support for you and your family when you need it most. Your disability benefits include:
As a member of the ADI Saver Plan with HSA, you may be eligible to open an HSA.
An HSA is a savings account in your name to which you and ADI make contributions. You can save or use this money to pay for eligible, unreimbursed medical expenses such as deductibles, coinsurance and copayments. ADI makes an annual contribution to your Fidelity HSA (currently $600 if you cover yourself only and $1,200 if you cover your family members). And you can also make personal contributions to your HSA.
If you have money left in your HSA at the end of the year, it rolls over into the next year – you never lose your money, even if you change medical plans or leave ADI. And you can use the money for eligible expenses you have at any time, even during retirement.
Saving through an HSA gives you a triple tax advantage:
Eligible reimbursable expenses that can be paid for by your HSA include deductibles, coinsurance, copayments and expenses not (or only partially) covered by your health plans as well as copayments and deductibles for your eligible dependents even if they are not enrolled in the ADI Saver Plan with HSA. See IRS Publication 969 for Health Savings Account details and IRS Publication 502 for detailed eligible expense information. Expenses you incur before you open your HSA may not be considered as qualified medical expenses.
HSA withdrawals for qualified medical expenses are always tax-free. Withdrawals for non-qualified expenses are subject to income taxes and, unless you are age 65 and older, penalty taxes. (Penalty taxes do not apply if funds are withdrawn due to your total disability or death.)
The maximum HSA contribution varies based on your coverage level and age and the current contribution limits. Your HSA contributions are made through regular payroll deductions, but you may also make a lump sum contribution to your HSA directly through the vendor. You can elect to contribute or change your contributions at any time by visiting Alight Solutions.
ADI's HCSA offers you a convenient way to pay for eligible health care expenses and save on taxes at the same time. When you direct a portion of your pretax salary to a HCSA, you lower your taxable income for the year and use tax-free money to help pay for eligible out-of-pocket health care expenses.
Analog's DCSA offers you a convenient way to pay for eligible dependent care expenses and save on taxes at the same time. When you direct a portion of your pretax salary to a DCSA, you lower your taxable income for the year and use tax-free money to help pay for eligible out-of-pocket dependent care expenses. See IRS Publication 503 for detailed eligible expense information.
You may contribute to the DCSA if you have eligible dependents for whom you must pay day care expenses in order to work full time.You may contribute from $150 to $5,000 pretax dollars to your account each year.
The IRS requires that any contributions made but not used during the plan year must be forfeited, so plan your contributions carefully.
We all know saving for retirement is a good idea, but other financial commitments often get in the way. Analog recognizes that saving money isn't easy. That's why we provide a retirement savings plan called The Investment Partnership (TIP).
Through TIP, Analog works with you to help you build the income you'll need when you retire. The Plan probably will not provide all the money you will need—your own personal savings and Social Security will also be important. But your TIP benefits can go a long way toward meeting your retirement income needs, particularly if you stay with Analog for your career.
TIP offers a valuable combination of tax advantages, investment choices and flexibility. Here are the highlights of the plan:
The Analog Devices Employee Assistance Program is a company-paid program that provides confidential, short-term counseling and referrals to other counselors for personal problems or concerns, professional (workplace) problems and drug/alcohol treatment and support.
Services under the Employee Assistance Program are company-paid and are available to you and your family members. They are provided through KGA, an independent firm of mental health professionals. The services are confidential – your privacy is protected by KGA. KGA professionals are available 24 hours a day, seven days a week at 1-800-648-9557. The KGA website provides additional resources for managing and reducing stress at KGA's WorkLife website for ADI
Analog offers a range of programs that support you in all parts of your life – work or home, self or family.
If you have ongoing child care needs, KGA (1-800-648-9557) can help you find a local day care center, get referrals to in-home child care providers or nannies, or identify summer camps and school vacation programs.
KGA can also help with ongoing adult care issues. You can get help finding assisted living facilities, nursing homes, adult day care programs, caregiver support, retirement communities and other programs that help support your aging parents or other adult relatives.
Through Bright Horizons (username: analog password: employee) (1-877-242-2737), Analog provides you with access to back-up child and adult care programs for those occasions when your regular arrangements are not available. You can get connected to a local Bright Horizons child care facility or in-home child and adult back up care.
Look to Hyatt Legal's MetLaw program for expertise on a range of services, from wills to traffic offenses. By enrolling in this program for a few dollars a week, you and your family will have access for the full year to an extensive list of services. Enrollment is done during the fall Annual Enrollment period.
If you enrolled in the plan, you can access the program through calling 1-800-821-6400 or visiting the website info.legalplans.com. If you are not currently enrolled and want to learn more, select "Learn About Your Legal Plan" (access code: 9260333).
The college application and admissions process can be an exciting – and stressful – time for you as well as your child. College Coach takes some of the pressure off by providing information and guidance on how to best prepare for this event with tips ranging from how to save for college through the college admissions process.
Learn more about upcoming live events, the learning center and scheduling personalized assistance for you and your family members by calling 1-866-468-3129 or by signing into the College Coach portal at passport.getintocollege.com (username: analog password: employee for first-time users registration: adicoach).
Time away from work for rest and rejuvenation keeps you at your best and helps you stay focused on work when you're there. ADI offers a competitive vacation plan based on your length of service, and your full annual allotment is available to you January 1st.
Be sure to work with your manager to schedule vacation time.
In addition to vacation time off, 10 paid holidays are provided each year. These designated holidays are announced in the July timeframe.