HAT - Centennial Bank€¦ · works to your advantage to choose a dentist from one of the two Delta...

WHAT’S INSIDE?

Home BancShares, Inc. understands that you are vital to our success. It is our goal to provide benefit options to assist you and your family in making informed decisions regarding your health and well-being. You will notice each plan offered provides multiple wellness screenings in an effort to improve your overall health.

As the cost of health care rises, we are committed to offering plans to help control cost while providing excellent healthcare coverage to you, our employees. Home BancShares will continue to share in the overall cost of your benefits. We have increased the employer’s share of premiums on the current High Deductible Health Plan (HDHP) and on our new Embedded HDHP to over 60% of the total cost.

As previously mentioned, we’re introducing a new Embedded HDHP. We will continue to offer both plans offered last year. Employees who participate in either of the HDHP plans can take advantage of a Health Savings Account (HSA). Remember, HSAs offer multiple tax advantages. Contributions are tax-deductible, or if made through a payroll deduction, are pre-taxed. Therefore, you get to keep more of your hard earned money! If you are on the fence about considering a High Deductible Health Plan please attend a HSA webinar to learn more about these plans.

To assist you in becoming better healthcare consumers throughout the year, we have added a new benefit, Compass Professional Health Services. This new benefit, which is free to you, will provide you with health professionals to guide you through the complexities of choosing a healthcare provider. Compass will also review your claims to help you avoid overcharges and resolve medical bill issues, allowing you to make the most of your benefit plan.

We will continue to evaluate our plans annually to ensure you have the best products available. We appreciate your dedication and commitment; together we will continue the success of HBI.

Tracy French President, CEO Centennial Bank

2017 CENTENNIAL BANK 2

DISCLAIMER: This is not a summary plan description (SPD). This is a brief summary of your benefits. It does not guarantee benefits. Refer to your coverage booklets and policies for complete details regarding covered charges, exclusions and plan payments.

Introduction page 2

Medical & Prescription page 3

Compass page 4

Dental page 5

The Delta Difference page 6

Vision page 7

Life & AD&D page 8

STD & LTD page 9

FSA page 10

HSA page 11

Supplemental Benefits page 12-13

Resources page 14

MEDICAL & PRESCRIPTION DRUG


WHO’S IN NETWORK? • Visit www.healthadvantage-hmo.com or call 1-800-843-1329 to search for an In-Network provider or pharmacy.

Medical Benefits In-Network HDHP 503 Plan HDHP Embedded Plan POS Plan

Annual Deductible Individual Family

$3,000 $6,000

$3,000 $6,000

$5,000 $10,000

Coinsurance (your responsibility) 0% 20% 0%

Annual Out of Pocket Max Individual Family

$3,000 $6,000

$5,000 $10,000

$5,000 $10,000

Physician Services & Diagnostics Primary Care Physician Visit Specialist Care Visit

0% after deductible met 0% after deductible met


$35 $50

Wellness Services 0% 0% 0% Emergency Room Services Emergency Services Ambulance Services



$100 + 20% coinsurance 50% coinsurance (Max

per trip: Ground $1,000 Air $5,000)

Inpatient/Outpatient Services Inpatient Services Outpatient Services



$200 + deductible $100 + deductible

Rx Benefits In-Network (Retail)

HDHP 503 Plan HDHP Embedded Plan POS Plan

Generic Preferred Brand Non-preferred Brand

0% after deductible met 0% after deductible met 0% after deductible met

20% after deductible met 20% after deductible met 20% after deductible met

$15 $50 $70

Your Cost (includes Medical & Rx) Per Pay Period (24) HDHP 503 Plan HDHP Embedded Plan POS PlanEmployee Only Employee + Spouse Employee + Child(ren) Employee + Family

$100.00 $200.00 $150.00 $260.00

$95.00 $180.00 $140.00 $240.00

$150.00 $300.00 $225.00 $400.00

NOTE: If the employee only cost listed above exceeds 9.69% of your annual gross income, please contact Human Resources to discuss your medical plan option.

Compass Professional Health Services Contact Compass to point you in the right direction for your healthcare needs.

No matter how complex or simple, we all have healthcare needs. From finding a doctor to solving a billing problem, getting straight answers can seem impossible at times. But you’re in luck. Centennial Bank has hired Compass to serve as your personal healthcare advisor at NO COST to you.

Note: This service is available to employees and their families enrolled in the medical plan.

Health Pro 800.513.1667 [email protected]

Contact your Health Pro today!

After my baby boy was born, I wanted to check all the different bills and charges to make sure I wasn’t being overcharged. There was absolutely no time, so I called my Health Pro and they found several mistakes. They worked everything out between the hospital and the insurance company, and I saved $500.

-Trina26

When I hurt my knee, my doctor told me I needed an MRI. Luckily I used Compass to check prices first because the hospital was going to charge me $1000 more than the imaging center across from my office. Compass also recommended a surgeon to perform the procedure, and he had the best bedside manner of any doctor I’ve been to.

-Jerry51

Member Portal: https://member.compassphs.com/


https://member.compassphs.com/#!/landing

DENTAL


THINGS TO THINK ABOUT • The mouth is more than just teeth – more than 120 signs and symptoms of non-dental disease can now

be detected through a routine oral exam!

• By maintaining good oral health, you can help take care of your overall health.

Delta Dental PPO Plus Premier Plan PPO or Premier Network Deductible (Calendar Year) $75 Per Person; Max $225 Per Family

Preventive Services Cleaning, Exam, X-Rays Fluoride Treatment (dependent to 19) Sealants (for dependent to age 16)

100% Covered (Deductible Does NOT Apply)

Basic Services Simple Extractions Endodontics (root canal) Fillings Oral Surgery

80% Covered (After Deductible)

Major Services Periodontics Surgery (gum disease) Dentures Crowns Bridges

50% Covered (After Deductible)

12-Month Wait for Late Entrants

Orthodontic Services (dependent to age 19) 50% (After Deductible) $1,000 Lifetime Maximum

Annual Maximum $1,250 Per Person; Max $3,750

Your Cost Employee Only Employee + Spouse Employee + Child(ren) Employee + Family

Per Pay Period (24) $7.29

$14.49 $16.58 $20.91

Delta Dental of Arkansas is proud to offer you quality dental insurance, and we hope you will take advantage of your benefits to receive the best care possible for your smile. For more information about your dental insurance plan, contact Delta Dental Customer Service at 1-800-462-5410.

SAVE MONEY Delta Dental has the largest network of dentists across the nation, which means you will find quality care wherever you are. While you are free to see the dentist of your choice, it works to your advantage to choose a dentist from one of the two Delta Dental networks: Delta Dental Premier and Delta Dental PPO. To obtain the deepest discounts and the least amount of out-of-pocket expenses, choose a dentist from the Delta Dental PPO network.

LOCATE A DENTIST Locate a participating dentist near you, by visiting http://www.deltadentalar.com to use the online directory. The directory will create a list of dental offices that match your search and will also provide maps and directions to a selected office.

INCREASE YOUR ANNUAL MAXIMUM Delta Dental’s Carryover Benefit allows you to carryover a portion of your unused benefits each year giving you the opportunity to grow your coverage.

If you need a procedure that costs more than your annual maximum, you can pay the difference with carryover benefits.

You will qualify to carryover $312.50 or 25% of your annual maximum each year if you meet the following requirements:

• You must submit at least one claim for coveredservices during the calendar year.

• Your paid claims must be less than half ($624) of your annual maximum ($1,250) for the AccumulationYear.

The amount accumulated under the Carryover Benefit cannot exceed the amount of the member’s annual maximum ($1,250).

Through evidence based dentistry, Delta Dental encourages patients to receive the dental care that is most appropriate for certain medical conditions.

For covered members with diabetes, heart disease, have a history of periodontal disease or who are pregnant, Delta Dental will cover up to four routine cleanings or periodontal maintenance procedures per year.

The additional benefits may not be combined for patients with more than one of the above conditions.

ADDED BENEFITS

THE DELTA DENTAL DIFFERENCE


http://www.deltadentalar.com/

VISION THINGS TO THINK ABOUT

• How many people in your family will take advantage of vision benefits?

• Do you, or someone in your family, wear glasses or contacts?


DID YOU KNOW?

You can find a vision provider by visiting https://www.superiorvision.com/Member/locate_provider.

You can also call Customer Service at 1-800-507-3800 for further help.

Superior Vision In-Network Out of Network Reimbursement Exam Copay $15 Up to $42 (Ophthalmologist); $36 (Optometrist) Materials Copay Contact Lens Fitting

$15 $30

Not covered Not covered

Lenses (standard) per pair: Single vision 100% covered Up to $28 Bifocal 100% covered Up to $42 Trifocal 100% covered Up to $56

Contact Lenses $150 retail allowance Up to $100 retail

Frames $150 retail allowance Up to $70 retail

Refractive Surgery (LASIK) 15%-50% discount Not covered

Service Frequency Exam 12 Months

Lenses 12 Months Frames 12 Months Contact Lenses & Fitting 12 Months

Your Cost Per Pay Period (24) Employee Only Employee + Spouse Employee + Child(ren) Family

$3.84 $7.68 $7.29

$12.88

https://www.superiorvision.com/Member/locate_provider

LIFE/AD&D INSURANCE

EMPLOYEE LIFE/AD&D All active benefit eligible employees will be eligible to enroll in the employee life and AD&D plan with Principal. Your costs are covered by Centennial Bank.

If you earn less than $84,000, your benefit is 3 times your annual salary up to $250,000. Your AD&D benefit is equal to your life insurance benefit.

If you earn $84,000 or more, your benefit is 3 times your annual salary up to $850,000. Your AD&D benefit is equal to your life insurance benefit.

If you are age 65 or older your benefits will be reduced to the percentage of your original amount in the table below.

Age of Employee Percentage 65 but less than 70 65% 70 but less than 75 50%

75 and over 35%

WHAT IS AD&D? Accidental Death and Dismemberment (AD&D) insurance provides a specified benefit for a covered accidental bodily injury that directly causes dismemberment (the loss of a hand, foot, or eye). In the event that death occurs from a covered accident, both the life and the AD&D benefit would be payable.

VOLUNTARY TERM LIFE & DEPENDENT LIFE You may elect additional life insurance in $10,000 increments, not exceeding the lesser 7 times your annual earnings or $500,000.

Your spouse may be insured in $5,000 increments not to exceed $250,000.

Your eligible dependent children may be insured for $1,000, up to 14 days of age. Eligible dependent children may be insured for $10,000 once they reach 15 days of age.

BENEFICIARY It is IMPORTANT that you check to be sure your beneficiaries are up to date.



DISABILITY INSURANCE Why is it important?

• According to the Social Security Administration, 30% of Americans in the workforce today will become disabled for 3months or more during their working career - mostly due to back injuries, cancer, heart disease and other illnesses.

• It’s not enough to rely on Social Security; 64% of all initial claims are denied and even if it’s approved the amount maynot be enough to cover your monthly expenses.

• 90% of disabling events don’t occur on the job.

What is STD Insurance? Short Term Disability Insurance helps protect your income for a short duration. If you become disabled and are unable to work, disability insurance can help replace some of your lost income, help you pay bills and protect your long-term savings.

What is LTD Insurance? Long Term Disability Insurance benefits are intended to protect your income for a long duration after you have depleted short-term disability or available paid time off. LTD will take effect if your accident or illness prevents you from returning to work beyond 90 days or whenever your STD benefits end.

Centennial Bank automatically enrolls you in LTD coverage at no cost to you. However, if you have a pre-existing condition (you incurred expenses, took prescription drugs, received medical treatment, etc.) during the 3 months just prior to your effective date of insurance, benefits will not be payable for that disability until you have been covered under this plan for 12 consecutive months.

How do these benefits work? Short Term Disability benefits begin on the 8th calendar day for an accident or illness. Your benefits will pay 60% of your pre-disability earnings to a maximum of $2,500 per week and you may receive this benefit for up to 13 weeks after a one week waiting period.

Long Term Disability benefits for those earning less than $300,000 will pay 66 2/3% of your pre-disability earnings but no more than $10,000 per month.

Long Term Disability benefits for those earning $300,000 or more will pay 66 2/3% of your pre-disability earnings but no more than $15,000 per month.

Your LTD benefits are payable for the period during which you continue to meet the definition of disability and if necessary, may continue to your social security normal retirement age.

NOTE: Other income sources such as Social Security disability, retirement benefits, pension, etc. may reduce your benefits under this plan. Please see your benefit summary for details regarding the effects of other income.


FLEXIBLE SPENDING ACCOUNT Things to Think about

• How can I save money with a FSA?• Traditional Health & Dependent Care Expenses• Third Party Insurance

Third Party Insurance Third Party insurance is also offered by Data Path. You can use this account for pre-tax insurance premium reimbursements on non-employer sponsored individual plans. It is recommended that you verify with Data Path that the third party insurance product you are paying is approved under IRS guidelines.

How can I save money with a FSA? Centennial Bank provides you the opportunity to pay for out-of-pocket medical, dental, vision, and dependent care expenses with pre-tax dollars through Flexible Spending Accounts. You must enroll/re-enroll in the plan each year to participate.

Contributions to your FSA come out of your paycheck before any taxes are taken out. This means that you don’t pay federal income tax, Social Security taxes, and state and local income taxes on the portion of your paycheck you contribute to your FSA. You should contribute the amount of money you expect to pay out of pocket for eligible expenses for the plan period.

The amount you elect for the year will be divided into equal amounts and deducted through your payroll before taxes. Your entire elected amount will be available to you for eligible expenses whenever you need it.

Please Note: Over the Counter drugs are no longer eligible for reimbursement without a prescription.

Traditional Health Care Expenses The Health FSA may be used to reimburse out-of-pocket medical, dental, and vision expenses incurred by you and your dependents. This includes your insurance deductibles, co-payments, coinsurance and prescription costs. The maximum contribution that you can make toward the FSA for Medical (Out-of-Pocket) Expenses is $2,600.

Dependent Care ExpensesThe Dependent Care FSA may be used to reimburse expenses related to the care of eligible dependents while you and your spouse work. The maximum contribution that you can make toward Dependent Care is $5,000 if you are a single employee or married filing jointly, or $2,500 if you are married and filing separately.


HEALTH SAVINGS ACCOUNT What is a Health Savings Account (HSA)?

• HSAs are special accounts available to individuals enrolled in a High Deductible Health Plan.• HSAs allow you to set aside money that is not taxed, and then use that money to pay for health related expenses.• Qualified expenses must be incurred to maintain the health of the accountholder or the accountholder’s spouse or

dependents, such as:o Doctor & hospital visitso Dental care (including braces & dentures)o Vision care (including glasses & contacts)

*A complete list is available at http://www.irs.gov/pub/irs-pdf/p502.pdf

Who is eligible for a HSA Account? Individuals who are covered by a HSA-compatible health plan are qualified if they are:

• Not covered by any other non HSA-compatible health plan.• Not claimed as a dependent on another person’s tax return (excluding spouses per Internal Revenue Code).• Not enrolled in Medicare A or B (once your eligible for Medicare you cannot contribute to an HSA but you can still be

enrolled in the HDHP).

How can you benefit from tax savings? An HSA provides triple tax savings by reducing your Federal, State and FICA taxes. Here’s how:

• Contributions to your HSA can be made with pre-tax dollars, which reduces your taxable income.• After-tax contributions that you make to your HSA are tax deductible.• HSA funds earn interest tax free, and when used for eligible healthcare expenses are also free from tax.

Contributions to your HSA Account Maximum total contributions for 2017 are $3,400 for individuals and $6,750 for those with dependent coverage.An additional $1,000 may be contributed by anyone over the age of 55.


SUPPLEMENTAL INSURANCE

FOR ALL BENEFIT ELIGIBLE EMPLOYEES, THE FOLLOWING SUPPLEMENTAL BENEFITS ARE AVAILABLE FROM ALLSTATE ANDGUARDIAN.

ALLSTATE ACCIDENT INSURANCE While major medical coverage is a significant part of your benefit package, an accident can lead to expenses that may not be covered by medical insurance. Allstate Benefits accident insurance is designed to help you with uncovered medical costs, due to a qualified accident, on or off the job. Accident coverage is a portable policy that you can keep if you change jobs or retire, as long as premiums are paid directly to the insurance company.

ALLSTATE CRITICAL ILLNESS INSURANCE If you or someone in your family suffers a serious disease, you can face immediate medical expenses and reduced income from being out of work. Health benefits will pay part of the medical bills and disability income protection coverage will help ensure a continuing income. However, many immediate expenses may not be covered. Critical Illness pays you a lump sum benefit at the first diagnosis of a covered illness, such as:

• Heart attack• Stroke• Organ transplant• End-stage renal failure• Advanced Alzheimer’s Disease• Coma• Paralysis

GUARDIAN CANCER INSURANCE The Guardian Cancer Plan offers benefit eligible employees over the age of 18 an opportunity to elect this coverage on Guarantee Issue basis. Cancer insurance pays benefits directly to you to help you pay for cancer-related expenses that health insurance might not cover. The coverage is portable. Plan benefits include coverage for the following and more:

• Hospital confinement• Radiation/Chemotherapy• Surgery and anesthesia• Inpatient drugs and medicine• Family member lodging• Physical or speech therapy• Wellness benefits


SUPPLEMENTAL INSURANCE Legal & Identity Theft

LEGALSHIELD Unexpected legal questions arise every day. With LegalShield on your side, you’ll have access to a quality law firm 24/7, for covered personal situations. From real estate to speeding tickets to will preparation, and beyond, LegalShield is here to help you with any personal legal matter—no matter how traumatic or how trivial it may seem. LegalShield’s dedicated law firms are prepaid and their sole focus is on serving you, rather than billing you. With LegalShield, you have access to an attorney 24/7 that you may speak with concerning any legal matter without worrying about hourly costs. The following benefits are covered and more:

• Legal advice & counsel• Letters and phone calls on your behalf• Contract and document review• Separation and divorce representation• Trial defense services• Will preparation• Motor vehicle services• IRS Audit legal services

IDSHIELD Identity theft has been one of the top consumer complaint filed with the FTC for 16 years straight. Identity theft victims spend an exorbitant amount of time and money dealing with it and criminals are getting smarter. IDShield’s Licensed Private Investigators will do whatever it takes to restore your identity to its pre-theft status. IDShield offers the following benefits and more:

• Identity consultation services• Privacy monitoring• Security monitoring• Credit monitoring and inquiry alerts• Credit score tracking• Identity restoration


Cancer Your Cost Employee Only Employee + Spouse Employee + Child(ren) Family

Per Pay Period (24) $14.19 $22.77 $17.44

$26.02

Accident Your Cost Per Pay Period (24)

Employee Only Employee + Spouse Employee + Child(ren) Family

$7.76 $14.44 $15.93

$19.64

Critical Illness


Legal Shield Your Cost Per Pay Period (24)

Employee ID Shield Employee Legal Shield Family ID Shield Family Legal ShieldEmployee ID & Legal ShieldFamily ID & Legal Shield

$4.48 $8.48 $9.48

$9.48

Arkansas/Alabama/New Jersey/Connecticut Residents

Florida and New York Residents

$12.95 $16.95

Employee ID Shield Legal Shield (Employee/Family)Family ID Shield Employee ID & Legal ShieldFamily ID & Legal Shield

$4.48 $7.98

$9.48 $12.45 $15.45

Short-term DisabilitySAMPLE EQUATION FOR SHORT-TERM DISABILITY RATES:STEP ONE: (Current Annual Salary) / 52 x 0.60 = Your weekly benefit (rounded up to the next whole dollar, with a maximum of $2,500.00)

STEP TWO:(Rounded weekly benefit) x 0.028 x 12 / 24 = Cost per pay period

Keep these things in mind as you have changes in your life. The choices you make during Open Enrollment remain in effect until the next open enrollment period. You cannot change coverage for yourself, or add or drop dependents during the year, unless you have a qualifying event. If you need to make changes to your or any of your dependents’ benefits throughout the year, you must do so within 30 days of the event. You can make changes by contacting your local HR Representative. Examples of family status changes that allow you to change some of your benefits during the year include:

• Marriage or Divorce• Death of your dependent child or spouse• Change in you or your dependent’s employment status that results in loss or gain of coverage• Birth, adoption, or change in the custody of your child

RESOURCES Medical Health Advantage Group # 781225 (HDHP 503) / 772871 (POS)

781254 (HDHP Embedded) Phone: 800-843-1329 Website: www.healthadvantage-hmo.com

Pharmacy Health Advantage Group # 781225 (HDHP 503) / 772871 (POS)

781254 (HDHP Embedded) Phone: 800-843-1329 Website: www.healthadvantage-hmo.com

Dental Delta Dental Group # 4742 Phone: 800-462-5410 Website: www.deltadentalar.com


Vision Superior Vision Group # 34186 Phone: 866-507-3800 Website: www.superiorvision.com

Life & Disability Principal Group # 1039119 Phone: 800-986-3343 Website: www.principal.com

FSA/HSA/COBRA Datapath Phone: 877-685-0655 Website: http://datapathadmin.com/

If you need additional help, contact our Human Resources Department.

CHANGES & RESOURCES

Arlene Lovelace SVP, Human Resources Director Phone: 501-328-4618 Email: [email protected]

Robin Hoelscher AVP, Assistant Human Resources Director Phone: 501-328-4758 Email: [email protected]

Emily Daffin Benefits Administrator Phone: 850-873-4136 Email: [email protected] Katie Austin Benefits Specialist, II Phone: 501-328-4749 Email: [email protected]

April Biggs Human Resources Specialist Phone: 870-215-4869 Email: [email protected]

Candace Hicks Human Resources Compliance Officer Phone: 850-926-6603 Email: [email protected]

Jamie Elliott Sr. Payroll Practitioner Phone: 501-328-4816 Email: [email protected] Shay Brown Sr. Payroll Technician Phone: 501-328-4617 Email: [email protected]

Human Resources Phone: 501-328-4732 Email: [email protected]

View available benefits, plan documents, and life event checklists online: www.my100benefits.com

http://www.healthadvantage-hmo.com/

http://www.healthadvantage-hmo.com/

http://www.deltadentalar.com/

http://www.superiorvision.com/

http://www.principal.com/

http://datapathadmin.com/

mailto:[email protected]









Centennial Bank

Centennial Bank Human Resources Email: HBI-HR ([email protected])

Human Resources FAQ’s Topic: Payroll

? When do I get paid? We are paid on a bi-weekly basis. Payday is every other Thursday. (See the 2017 Payroll

Calendar for payroll dates and pay periods.) The payment is for wages earned during the preceding 2 calendar weeks, Sunday through Saturday.

? Will I receive a live check or a direct deposit? For added safety and immediate access to your wages, we encourage you to sign up for

direct deposit. You can set up your direct deposit information through UltiPro. Instructions for how to do so are posted on CenNet. You may choose to receive a manual check; however, direct deposits are available immediately. Live checks have to be either mailed to you or sent interoffice.

? When will my 401k contributions be deducted from my paycheck? For new enrollees, 401k contributions will come out of the first payroll following your

online enrollment. Therefore, if you enrolled on January 1, 2017, your first contributions will come out of the January 19, 2017 payroll.

? Which payrolls include my insurance deductions? Your first deductions will come out of the first payroll of the month once your insurance

goes into effect. For example, if your insurance goes into effect March 1, 2017, your first insurance deductions will come out of the first payroll in March. Insurance deductions are taken out twice per month. Since we are paid on a bi-weekly basis, there are 2 months out of the year that have a 3rd payroll. Insurance deductions do not come out of the 3rd payroll of the month. We call these “free” payrolls.

? Are my insurance deductions pre-tax or post-tax? Most of your insurance deductions are pre-tax, providing you with tax savings. However,

short-term disability and life insurance deductions are post-tax. By paying taxes on the premiums, you are not required to pay taxes on the insurance pay-outs.

? Which months do my insurance deductions cover? Do we pay a month in advance, a month behind, or within the same month? Your payroll deductions cover the month in which the deductions are made. For example,

your January deductions provide you with coverage for the month of January, and so on.

Centennial Bank


? When will I receive my review? New Hires will receive a performance review after the first 90 days of service. Annual

performance reviews are given to salaried employees at the end of every calendar year and hourly employees on their anniversary. *Salary reviews will coincide with your annual performance review.

? Who should I contact if I have questions about my paycheck?

If it is regarding your pay, contact your immediate supervisor. Questions regarding withholdings or deductions should be e-mailed to HBI-HR ([email protected]).

? Can I view my paystub online?

Yes, instructions are in the Human Resources section of CenNet. If you cannot find the instructions, please e-mail HBI-HR ([email protected]).

Topic: Benefits

? When will I receive vacation time? Salaried employees begin accruing vacation on January 1 of each year. Hourly employees

receive vacation on their first anniversary. Vacation balances will be viewable on your paystub following accrual.

? As an hourly employee, do I have access to any vacation time prior to my first anniversary? Hourly employees within their first year of employment will be allowed to use up to 3 days

of vacation prior to receiving their lump sum on their anniversary. Their vacation balance will reflect a negative amount until they receive their actual on their first anniversary. The lump sum of their first accrual will be reduced by the negative amount.

? How much vacation time will I receive? Hourly (Non-Exempt) Employees:

Full-Time Hourly (Non-Exempt) Employees: 2 Weeks (80 hours) beginning on your 1st Anniversary

3 Weeks (120 hours) beginning on your 5th Anniversary 4 Weeks (160 hours) beginning on your 15th Anniversary

Part-Time and Part-Time 30 Hourly (Non-Exempt) Employees: Part Time: 1 week (25 Hours) beginning on your 1st Anniversary

Part-Time 30: 1 week (30 hours) beginning on your 1st Anniversary


Centennial Bank


Salaried (Exempt) Employees:

Salaried employees accrue hours each pay period based on the vacation schedule below:

? Will my vacation hours carryover to the following year if I do not use them all?

Vacation balances do not carry over. Any unused hours will be forfeited.

? When will I receive sick time? All employees will receive a lump sum amount each January 1, according to the Rate

Schedule below.

New hires will receive a prorated lump sum amount based on the number of pay periods between their hire date and the following January. Sick hours become available for use after 90 days of employment. (3.08 x Number of Pay Periods = Prorated Amount)

Full-Time Salary (Exempt) Employees: Seniority

Hire date through first January 1 Not Applicable January 1 of the years that contain anniversaries

1 – 4 Accrue 3.08 hours per pay period up to a maximum

of 80 hours

Vacation hours become available after 90 days of employment.

January 1 of the years that contain anniversaries 5 – 14

Accrue 4.62 hours per pay period up to a maximum of 120 hours

January 1 of the years that contain anniversaries 15+

Accrue 6.15 hours per pay period up to a maximum of 160 hours

Rate Schedule Seniority Rate Hire date Prorated amount of sick hours based on the number

of pay periods between the hire date and January 1.

January 1 of the years that contain anniversaries 1 - 4

Receives a lump sum of 80 hours

January 1 of the years that contain anniversaries 5 – 14


January 1 of the years that contain anniversaries 15+


Centennial Bank


? Am I eligible to receive insurance benefits? Employees who are classified as full-time (per the Patient Protection Affordable Care Act)

are eligible to enroll after all waiting periods have been met. This includes full-time and part-time 30 classified employees of Centennial Bank and all subsidiaries.

? When will my insurance go into effect? Any elected coverage will be effective the first day of the month following 30 calendar days

of service. So, if your start date is January 5th, your insurance will be effective March 1st. The only exception to this policy is for the company paid life insurance, which goes into effect the first of the month following 90 calendar days of service.

? Can I cancel my insurance at any time?

Your insurance may be changed if you experience a “qualifying event”. Examples of a qualifying event are birth, adoption, marriage, death, divorce, change in work status, or loss of coverage.

? When can I make changes to my insurance elections?

You can make changes within 30 calendar days of a “qualifying event” or during the company designated open enrollment period.

? How do I cancel or make changes to my insurance? Please e-mail HBI-HR ([email protected]) and provide the necessary documentation

within 30 calendar days from the date of your qualifying event. The appropriate Life Event election instructions will be sent to you. If necessary, HR will advise you on the documentation required for your qualifying event.

? Does the company match my 401k contributions?

The company matches 50% of your contribution up to a maximum of 3% of your gross wages. For example, if you contribute 6% of your gross wages, the company will match 3%. If you contribute more than 6%, the company will still only contribute 3% since that is the maximum.

Part-Time and Part-Time 30 Hourly (Non-Exempt) Employees: Not eligible to accrue sick hours.

Pursuant to New York State law, New York part-time employees shall accrue a minimum of 1 hour of sick leave for every 30 hours worked.


Centennial Bank


? When can I enroll in the company’s 401k plan? When can I make changes to my elections? Employees can enroll at any time. The only requirement is the employee must be at least

21 years of age. Contributions can also be cancelled at any time. Any other changes such as an increase or decrease to your contribution can be made each quarter.

? When will my 401k be fully vested?

Your 401k will be fully vested after 5 years of service.

? What does “vested” mean? When the company makes contributions to your 401k plan, you do not have full ownership

of those contributions. Your ownership increases with your years of service. Upon your 5th year, you have complete ownership of the company’s contributions.

? Does the company offer Roth 401k plans as well as traditional?

Yes, the company offers both and you may choose one or a combination of the two. For example, you can contribute 3% of your gross wages to a traditional (pre-tax) 401k plan and another 3% of your gross wages to a Roth (post-tax) plan.

? What is the difference between a Roth 401k plan and a traditional 401k plan?

A Roth plan allows you to pay taxes on the wages that you contribute each pay period and not pay taxes on the earnings when you withdraw them via a qualified withdrawal. A traditional 401k plan provides you with tax savings now and you would pay taxes on the earnings when they are withdrawn. It’s really a matter of getting your tax benefit now or later. The weight of the tax benefit depends on how much you earn now compared to how much you expect to earn in the future.

? What is the definition of a health insurance deductible?

The deductible is the amount you owe for covered health care services before your health insurance or plan begins to pay. However, deductibles don’t apply to all services. Sometimes routine doctor visits and preventive care are covered by a co-pay before your deductible is met. Your deductible must be met again at the beginning of each calendar/plan year.

? How is my health deductible “met”? Generally, your deductible is a defined amount that must be paid each calendar, or plan

year, before your insurance provider begins to cover any medical costs. Many health plans provide some benefits before you meet your deductible. Your out-of-pocket co-pays do not count towards your deductible. This includes your prescription co-pays.

Centennial Bank


? What is co-insurance, as it relates to a health insurance plan? Co-insurance is your share of the costs of a health care service. It is a percentage of the

amount covered that each individual must pay for covered services after you have met your deductible. Co-insurance can sometimes apply after certain co-pays.

? What is the definition of co-pay on my health insurance?

Co-pay is a fixed amount paid each time health care services are received. The amount can vary by the type and provider of service. Co-pays can also apply when filling prescriptions. Co-pays do not apply towards your deductible.

? How do deductibles, co-insurance and co-pays work together?

Generally, when you visit your doctor’s office you may be required to pay a co-pay. (Co-pays Do NOT apply towards your deductible). After certain services you may receive an additional bill. These costs go towards meeting your deductible. Once your deductible is met, then you are responsible for your share of the co-insurance. Once you have paid your required portion of the co-insurance your insurance will pay 100% of all allowable health care services until the end of the plan year.

? Who should I contact if I have questions about my benefits?

Please e-mail any questions to HBI-HR ([email protected]). Your e-mail will be answered by the first available representative.


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