InnovateCorp: Frequently Asked Questions

Get the answers to some of the most common questions about our benefits here. If you still have questions, feel free to send us an email at: yourquestions@innovatecorp.com or ask our chatbot: SuzieQ.

Medical

InnovateCorp offers three medical insurance plans: a PPO plan, an HMO plan, and a High-Deductible Health Plan (HDHP) with a Health Savings Account (HSA).

What medical insurance plans are available to employees at InnovateCorp?

Q & A

How can I find a doctor in my medical plan's network?

You can find a doctor by visiting the insurance provider's website and using their "Find a Doctor" tool. You can search by specialty, location, and other criteria.

Are mental health services covered under our medical insurance plans?

Yes, mental health services are covered under all our medical insurance plans. This includes therapy sessions, psychiatric services, and inpatient care.

What is the process for getting a prescription medication covered?

Prescription medications are covered through our insurance provider's formulary. You can fill your prescriptions at participating pharmacies or through a mail-order service for maintenance medications.

Dental

What dental insurance options are available at InnovateCorp?

InnovateCorp offers two dental insurance plans: a Basic Plan and a Comprehensive Plan, both covering preventive, basic, and major dental services.

How often can I get my teeth cleaned under the dental plan?

Both dental plans cover two preventive cleanings per year at 100% when using an in-network provider.

Are orthodontic services covered under our dental plans?

Orthodontic services are covered under the Comprehensive Plan, with a lifetime maximum benefit for each covered individual.

Vision

What does our vision insurance cover?

Our vision insurance covers annual eye exams, prescription glasses or contact lenses, and discounts on LASIK surgery.

How can I use my vision insurance to get new glasses?

You can use your vision insurance at participating optical centers or online retailers. The insurance covers a portion of the cost of frames and lenses or contact lenses once per year.

Retirement

What retirement plans does InnovateCorp offer?

InnovateCorp offers a 401(k) plan with a company match, as well as access to financial planning resources and retirement seminars.

How does the 401(k) company match work?

InnovateCorp matches 100% of the first 3% of your salary that you contribute and 50% of the next 2%. This means if you contribute 5%, InnovateCorp will match 4%.

When am I vested in the company match?

You are fully vested in the company match after three years of service.

Paid Time Off
(PTO)

How is PTO accrued at InnovateCorp?

PTO is accrued based on your length of service. Full-time employees accrue PTO bi-weekly, starting at 15 days per year for the first three years of service.

Can I carry over unused PTO to the next year?

Yes, you can carry over up to 5 days of unused PTO to the next calendar year.

Life and Disability

What life insurance benefits are offered to employees?

InnovateCorp provides basic life insurance at no cost to employees, equal to one times your annual salary. Optional supplemental life insurance is also available.

What is short-term disability (STD) insurance and how does it work?

STD insurance provides income replacement if you are unable to work due to a qualifying illness or injury. It typically covers 60% of your salary for up to 12 weeks.

Additional Benefits

Does InnovateCorp offer any wellness programs?

Yes, InnovateCorp offers a wellness program that includes access to fitness centers, wellness challenges, health coaching, and discounts on health and fitness products.

Are there any employee assistance programs (EAP) available?

Yes, our EAP provides confidential counseling services, financial advice, and legal assistance to employees and their families.

What educational benefits are available at InnovateCorp?

InnovateCorp offers tuition reimbursement for job-related courses and degree programs, as well as access to online learning resources and professional development workshops.

Does InnovateCorp offer any flexible work arrangements?

Yes, InnovateCorp supports flexible work arrangements, including remote work options, flexible hours, and compressed workweeks, depending on your role and department needs.