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Health & Insurance Benefits
MedicalBank of America offers a choice of medical plans that are easy to understand, deliver valuable features and help you manage rising health care costs. Associates have the option to select from a Comprehensive Traditional Plan and a Comprehensive High Deductible Plan. Both plans provide coverage for eligible medical services (like doctor's office visits, specialist care or a hospital stay), prescription drugs, mental health and substance abuse. DentalBank of America offers two dental plan options that provide coverage for preventive and restorative dental care: a Dental Preferred Provider Organization (PPO) Plan, and a Dental Maintenance Organization (DMO) Plan. VisionAssociates can elect the Vision Plan that provides coverage for eye care, eyeglasses and contact lenses. In addition, all benefits eligible associates have access to the Vision Discount Program which may be an alternative to electing vision coverage. Bank-funded Healthcare AccountsEligible associates receive a bank-funded Health Reimbursement Arrangement (HRA) or Health Savings Account (HSA) to help pay for eligible health care expenses. Health & Dependent Care Flexible Spending AccountsThese accounts help associates lower taxable income and achieve a tax savings by using before-tax dollars to pay for eligible health and dependent care expenses. Associate Life InsuranceAssociates are automatically provided with basic life insurance equal to 1 times their annual pay. Additional supplemental life insurance up to 8 times annual pay + bonus can be purchased. Accidental Death and DismembermentPays a benefit if an associate (or a covered family member) becomes paralyzed, dismembered or dies as the result of an accident. AD&D up to 8 times of annual pay + bonus can be purchased. Dependent Life InsurancePays a benefit to an associate if their eligible covered dependent dies. Dependent Life insurance can be purchased for a spouse, domestic partner or eligible dependent child(ren). Business Travel Accident InsuranceProvides 24-hour coverage while traveling for Bank of America anywhere in the world (excludes everyday commuting) Not all associates are eligible to participate in all benefit programs. The terms and conditions of the benefits described above may be governed by written benefit plans and/or other documents. The above stated description of benefits is intended as a summary and for informational purposes only; this document does not create a contract between the company and any associate or potential associate. All programs and benefits are subject to change at any time. Other Programs: Your Finances, Community Commitments, and Education |
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