When looking for a new job, exceptional company benefits are always an important factor in deciding whether you say yes or no to that promising offer. Orthofix employees enjoy great benefits, from excellent medical and dental coverage, to extra holidays that you can use at your discretion. We know it's not just finding the right job that is important for today's career-minded individuals, but finding the right company.
Find out what Orthofix has to offer by reading the following general summary of plan benefits. More complete descriptions of benefits and the terms, under which they are provided, including limitations and exclusions, are contained in the Group Insurance Certificate Booklets and Employee Handbook.
Medical, dental, and vision insurance premiums and healthcare and dependent care flexible spending accounts are on a pre-tax basis through the Section 125 Group Benefit Program.
Medical and Dental Insurance — Blue Cross Blue Shield of Texas
- Two traditional PPO medical plan options - $35 or $45 employee co-pay for in-network physician office visit
- One High Deductible Health Savings Account (HSA) PPO medical plan option - $3,000 in-network deductible, then plan pays 100%. Eligible employees may contribute pre-tax dollars to the HSA (up to $3,250 for single participants or up to $6,450 for families).
- Please refer to Medical Plan Summaries for Plan 1 and Plan 2 to compare the differences in benefits
- Dental preventive care covered at 100%, $1,500 calendar year dental maximum; and $1,500 orthodontia maximum benefit (per individual). Basic services covered at 80%; and major services covered at 50% both after satisfying a $50 annual deductible ($150 max family deductible)
- Dependents may be covered until age 26, regardless of student status
- Domestic partners and their children may be covered as dependents
Vision Insurance — Superior Vision Plan
- Free vision coverage for all employees, small charge for dependent coverage
- In-network and non-network benefits for comprehensive exam, standard lenses, frames or contact lenses
Dependent Care Flexible Spending Account — Taxsaver Plan
- Can allocate up to $5,000 in pre-tax dollars per calendar year for day care expenses for dependents
Health Care Flexible Spending Account — Taxsaver Plan
- Can allocate up to $2,500 in pre-tax dollars per calendar year toward certain medical, hospitalization, prescription drug, dental and vision out-of-pocket expenses
Basic Life Insurance/AD&D — Unum Life Insurance Company of America
- The company provides basic life insurance and Accidental Death and Dismemberment (AD&D) coverage for all eligible employees. The coverage is one time base salary up to a maximum of $400,000
- Can purchase optional dependent life insurance for spouse and children
Voluntary Term Life/AD&D Insurance — Unum Life Insurance Company of America
- Eligible employees may purchase additional life insurance up to five times their annual salary to a maximum of $500,000 for employees; dependent coverage for spouse and children is also available. Cost is based on age category and smoker vs. non-smoker rates.
Short and Long Term Disability — Unum Life Insurance Company of America
- Short term disability coverage is 60% of your salary after an absence of 14 consecutive days missed. This coverage is non-taxable.
- Long term disability coverage is 60% of your salary at time of disability and starts on the 91st day of disability and continues until you are no longer disabled or according to the schedule found in the long term disability booklet. This coverage is taxable.
- Both of these benefits are provided free by the company
Retirement / 401(k) — McCready and Keene, Inc.
Orthofix has established a voluntary defined contribution retirement plan for its employees administered through McCready and Keene, Inc.
Employees are eligible to participate in the plan the first of the month after completing thirty (30) days of service. They may participate by contributing a percentage of their gross pay (up to certain maximums) on a pre-tax basis. Though these contributions are deducted from current income, income taxes will be deferred until withdrawn, but withdrawals are severely restricted. There are a variety of investment options available. The company pays all administrative costs of the plan and matches the first 2% at 100%, next 4% at 50% up to 6% of your pre-tax contributions. Full vesting of the matching contributions occurs after five years service.
Additional information and a booklet which explains the plan in detail, the provisions of which govern the plan, is available from Human Resources.
All of the above benefits are effective the first of the month following 30 days of employment.
Sick Leave Paid Time Off
Each Orthofix employee is eligible for sick leave for illness or other personal business. See Employee Handbook for further details.
Vacation Paid Time Off
As a new hire, you are eligible for a pro-rated number of vacation days depending upon your hire date. You are allowed 10 days of vacation (80 hours) your first full year through the completion of three years of service. After three years of service, the amount of vacation time increases according to the vacation schedule.
Holiday Paid Time Off
Orthofix provides nine holidays each year as a benefit to employees. The company also provides three floating/personal holidays resulting in a total of 12 holidays per year. New hires have a pro-rated number of floating holidays depending upon their hire date.
Business Travel Accident Plan
Business travel accident insurance coverage is provided to all officers, managers and other employees that travel on business for Orthofix Inc. This plan provides coverage for business travel in the U.S. and overseas.
Stock Purchase Plan
The Stock Purchase Plan year runs from January 1 through December 31. Orthofix International N.V.’s stock (the Nasdaq symbol is: OFIX) can be purchased through payroll deductions at 85% of "fair market value." The share price is set at the beginning or the end of the plan year, whichever is most advantageous.
Tuition Reimbursement Program
The company may pay the costs of tuition, required textbooks, lab fees, and registration fees required for job-related courses, after prior approval by the employee's supervisor and Human Resources.
Employee Assistance Program
An Employee Assistance Program (EAP) is a confidential service for employees, offering guidance for problems relating to family relationships, individual frustration, depression, stress, substance abuse or other difficulties. This confidential program is available at no cost to employees and their dependents and provided through Unum.
Compass Professional Health Services
Compass Professional Health Services provides the price-transparency, quality checks, and patient advocacy that unlock the power of healthcare consumerism. Compass makes it possible for plan participants to take advantage of the lower prices within their existing network. In-Network prices vary by 300% locally—that means the same MRI can cost $500 or $1,500 depending on where you go. Compass Health Pros patient-advocates provide our employees with that pricing information along with quality comparisons for medical services. Compass Health Pros also support employees with appointment scheduling and other concierge services, such as bill review and appeal. This benefit is provided at no cost to employees and their dependents.
Employee Referral Program
Cash incentives are paid three months after the candidate start date as a regular, full-time employee based upon the position they fill. More information regarding this benefit can be provided by Human Resources.
The above is a brief overview of Orthofix's benefit plans and is not to be used for policy determination. The summary plan description and employee manual are the final determination of benefit policy. Please contact Human Resources for further details or information on any of Orthofix's Benefit Programs.