Whats Changing
Content
What’s Changing—and Not Changing—for 2016
What Is Changing
What Is Not Changing
Contributions
Per-paycheck medical plan contributions will increase slightly to reflect the
continuously rising cost of health care across the nation.
Siemens will continue to pay the
majority of the cost of your benefits.
With the move to a new vision carrier, per-paycheck vision plan contributions
will decrease slightly for the Enhanced Vision Plan option and increase slightly
for the Premier Vision Plan option.
The amount you pay for coverage will
continue to depend on the plan options
you elect.
Your contributions for coverage will
continue to be made through pre-tax
and post-tax payroll deductions
(depending on the plan).
Medical
Deductibles will increase under the Health Savings and Health
Reimbursement Medical Plan options as follows:
Plan
Health Savings Medical
Plan Option
Health Reimbursement
Medical Plan Option
2015 Deductible
In-Network
$1,800 individual
$3,600 family
2016 Deductible
In-Network
$1,900 individual
$3,800 family
Out-of-Network
$2,700 individual
$5,400 family
In-Network
$1,300 individual
$3,250 family
Out-of-Network
$2,850 individual
$5,700 family
In-Network
$1,400 individual
$3,500 family
Out-of-Network
$1,950 individual
$4,875 family
Out-of-Network
$2,100 individual
$5,250 family
Out-of-pocket maximums will increase for these medical plan options
as follows:
Plan
Health Savings Medical
Plan Option
(Includes deductible,
coinsurance and combined
medical and prescription
drug expenses)
Health Reimbursement
Medical Plan Option
(Includes deductible and
coinsurance; does not
include prescription drug
expenses)
PPO Medical Plan Option
(Includes deductible and
coinsurance; does not
include prescription drug
expenses)
2015
2016
Out-of-Pocket Maximum Out-of-Pocket Maximum
In-Network
In-Network
$5,000 individual
$5,500 individual
$10,000 family
$11,000 family*
Out-of-Network
$6,500 individual
$13,000 family
In-Network
$3,500 individual
$9,500 family
Out-of-Network
$7,000 individual
$14,000 family
In-Network
$3,700 individual
$10,000 family
Out-of-Network
$4,500 individual
$13,500 family
In-Network
$3,500 individual
$9,500 family
Out-of-Network
$4,700 individual
$14,000 family
In-Network:
$3,700 individual
$10,000 family
Out-of-Network
$4,500 individual
$13,500 family
Out-of-Network
$4,700 individual
$14,000 family
You will continue to have the Health
Savings, Health Reimbursement and
PPO Medical Plan options to choose
from for 2016. Also, Hawaii Medical
Service Association (HMSA), Humana
and Kaiser Permanente HMO medical
plan options will continue to be offered
in certain areas.
If you enroll in the Health Savings or
Health Reimbursement Medical Plan
option, you will continue to be able to
earn Healthy Rewards for completing
certain wellness activities.
Blue Cross Blue Shield and
UnitedHealthcare will continue
to be the administrators of the
Health Reimbursement and
PPO Medical Plan options.
For the Health Savings Medical Plan
option, UnitedHealthcare is the claims
administrator, while the HSA is managed
by Optum Bank. If you are enrolled
in Medicare, neither you nor Siemens
may make contributions to your HSA.
The copays and coinsurance under
the Kaiser Permanente HMO medical
plan option will remain the same.
The Employee Assistance Program
(EAP) will continue to be available to
you (and any family members who
reside with you) through Cigna,
regardless of whether you enroll in
any of the Siemens medical plan
options and regardless of which
medical plan or claims administrator
you select for 2016.
* If an employee covers more than one individual under the Health Savings Medical Plan
option, and one individual reaches $6,850 in eligible in-network out-of-pocket expenses,
all remaining eligible in-network expenses will be paid at 100% for that individual only.
What’s Changing and Not Changing 2016
Page 1
What Is Changing
What Is Not Changing
Medical
The maximum amount you and Siemens can contribute to the HSA for
2016 will be $3,350 per individual and $6,750 per family. Your automatic
company contributions and any Healthy Rewards you earn will count toward
the limit.
There will no longer be a limit on the number of bras provided to women who
have a mastectomy.
We are expanding the Healthy Rewards Program by introducing a new
wellness activity. If you are enrolled in the Health Savings or Health
Reimbursement Medical Plan option, you and your covered spouse or domestic
partner can each earn $50 in Healthy Rewards when you get an annual vision
exam in 2016. Because of this new opportunity and to encourage you to focus
on your health, take action and complete wellness activities, the money
Siemens automatically contributes to your Health Savings Account (HSA) or
Health Reimbursement Account (HRA) will be reduced by $50 (or $100 if you
enroll your spouse or domestic partner).
If you enroll in the Health Savings Medical Plan option, Siemens will make an
automatic contribution of $300 to your HSA if you enroll yourself, and
another $300 if you also enroll your spouse or domestic partner. The
contributions will continue to be made on a per-paycheck basis.
If you enroll in the Health Reimbursement Medical Plan option, Siemens will
make an automatic contribution to your HRA of $450 if you cover yourself
and another $450 if you also cover your spouse or domestic partner. Note: You
cannot make your own contributions to an HRA.
As required under recent Equal Employment Opportunity Commission
regulations, there will be a $1,450 cap per family on the amount of Healthy
Rewards you can earn.
For Outbound Delegates Enrolled in the Cigna International Medical Plan
option: Deductibles, out-of-network coinsurance and out-of-pocket maximums
for coverage in the United States (U.S.) will increase as follows:
Cigna International
Medical Plan Option
Deductible
Coinsurance
Out-of-Pocket Maximum
(Includes medical
deductible and
coinsurance)
Note: For the U.S. plan,
the deductible does not
apply to prescription
drugs. However, for the
international plan, you
must first meet the
medical deductible
before prescription
coverage is available.
2015
2016
In-Network U.S.
$300 individual
$900 family
In-Network U.S.
$650 individual
$1,950 family
Out-of-Network U.S.
$300 individual
$900 family
Out-of-Network U.S.
$950 individual
$2,950 family
In-Network U.S.
You pay 20%
In-Network U.S.
You pay 20%
Out-of-Network U.S.
You pay 20%
Out-of-Network U.S.
You pay 40%
In-Network U.S.
$1,500 individual
$4,500 family
In-Network U.S.
$3,500 individual
$10,500 family
Out-of-Network U.S
$1,500 individual
$4,500 family
Out-of-Network U.S.
$4,500 individual
$13,500 family
What’s Changing and Not Changing 2016
Under the Cigna International Medical
Plan option, employees will continue to
have a $300 individual/$900 family
deductible; pay 20% in coinsurance;
and have a $1,500 individual/$4,500
family out-of-pocket maximum for
services received outside of the U.S.
Page 2
What Is Changing
What Is Not Changing
Prescription Drugs
In an effort to encourage employees to use lower-cost, clinically effective
brand and generic prescription drugs, we are expanding existing
CVS/caremark clinical management programs by:
Adding drug classes to the CVS/caremark High Performance Generic
Step Therapy program.
Replacing the CVS/caremark Preferred Specialty Step Therapy program
with its Advanced Control Specialty Formulary.
We’re also adopting CVS/caremark’s standard compound drug strategy,
which requires prior authorization for compound drugs that exceed $300.
You will continue to have a choice
of generic, preferred brand and
non-preferred brand drugs whenever
you need a prescription.
Coinsurance will remain the same
for those with prescription drug
coverage through CVS/caremark,
and the out-of-pocket maximum will
remain the same for those enrolled in
the Health Reimbursement and PPO
Medical Plan options.
Under the Health Savings Medical Plan
option, the individual or family deductible
must be met before coinsurance for
prescription drugs begins.
Dental
To better align the dental plan design with the American Dental Association’s
(ADA’s) guidelines and industry standards, we are making changes to the
dental plan.
Plan Provision
2015
There will be no increase in paycheck
contributions.
2016
Orthodontia lifetime maximum
per person
$1,250
$1,500
Crowns, Inlays, Onlays, Veneers,
Partial and Complete Dentures, Post
and Cores, Core Buildups, Fixed
Bridges, Implants, Implant Prosthetics
Once every 60
months
Once every 84
months
Prefabricated Stainless Steel and
Resin Crowns, Rebase/Reline of
Dentures (one every 36 months),
General Anesthesia/IV Sedation
In-Network
You pay 20%
In-Network
You pay 40%
Out-of-Network
You pay 40%
Out-of-Network
You pay 50%
In-Network
You pay 20%
In-Network
You pay 20%
Out-of-Network
You pay 40%
Out-of-Network
You pay 40%
In-Network
You pay 20%
In-Network
You pay 40%
Out-of-network
You pay 40%
Out-of-Network
You pay 50%
Unlimited
One surgery every
36 months per
quadrant
In-Network
You pay 20%
In-Network
You pay 20%
Out-of-Network
You pay 40%
Out-of-Network
You pay 40%
In-Network
You pay 20%
In-Network
You pay 40%
Out-of-Network
You pay 40%
Out-of-Network
You pay 50%
Periodontics
Non-Surgical
Surgical
Oral Surgery
Simple Extractions
Surgical Extractions and
All Other Oral Surgery
What’s Changing and Not Changing 2016
Page 3
What Is Changing
What Is Not Changing
Vision
We are introducing a new vision carrier, EyeMed, which has a larger, more
diverse network and an enhanced member web site (and mobile app) that’s
easier to use. Plus, EyeMed offers additional savings for you, including better
discounts on frames.
Contact lens evaluation and fitting coverage will be moved from the Basic
Vision Plan option to the Enhanced and Premier Vision Plan options.
The Basic Vision Plan option will
continue to be provided at no cost.
In addition to the Basic Vision Plan
option, you will continue to have two
buy-up options—the Enhanced Vision
Plan and Premier Vision Plan options
Flexible Spending Account
The Health Care Flexible Spending Account (FSA) contribution limit will
increase from $2,500 to $2,550.
If you are currently enrolled in the
Health Care FSA and enroll in
the Health Savings Medical Plan
option for 2016, you must use all the
money in your Health Care FSA by
December 31, 2015 for Siemens and
you to make contributions to your HSA
beginning January 1, 2016. Because of
the tax-advantaged nature of the two
accounts, you cannot participate in both
at the same time.
If you participate in the Health Savings
Medical Plan option, you will not be
able to contribute to a Health Care FSA.
Instead, you can contribute to a
Limited-Use Health Care FSA. You can
use this account to pay for health care
expenses not related to medical, such
as vision and dental expenses.
You can continue to contribute between
$120 and $5,000 to the Dependent Day
Care FSA in 2016. If you’re married and
file separate tax returns, the maximum
you can contribute is $2,500.
WageWorks will continue to be the
administrator.
Short-Term Disability (STD) and Long-Term Disability (LTD)*
The Short-Term Disability (STD) plan will change for some employees, so all
non-union hourly and salaried employees who become disabled on or after
October 1, 2015 will be covered under one standard plan option (the one that
currently applies to most non-union employees). Under this plan option,
Siemens will pay 90% of your salary for weeks 2 through 7 of your disability
and 66.67% of your salary for weeks 8 through 26, after a seven-day waiting
period. STD benefits will cover non-occupational claims only and will not
provide an offset to Workers Compensation claims. Note: STD plan options
may vary for unions based on applicable collective bargaining agreements.
What’s Changing and Not Changing 2016
Siemens will continue to provide
Company-paid LTD coverage, which
pays a taxable benefit equal to 60% of
your pay during a disability. You have
the option to replace Company-paid LTD
coverage with the post-tax, employeepaid LTD coverage, which pays a taxfree benefit equal to 60% of your pay
during a disability.
Page 4
What Is Not Changing
Life Insurance and Personal Accident Insurance (PAI)*
You continue to automatically receive Company-paid:
Basic Life Insurance equal to two times pay (maximum of $300,000).
PAI equal to two times pay for individual (maximum of $300,000) or one times pay for family.
You continue to have the option to purchase Supplemental, Spouse and Dependent Child Life Insurance.
During Annual Enrollment, or if you experience a qualified life event during the year, you may increase your existing
Supplemental Life Insurance coverage by one level up to three times pay (up to $300,000) without providing evidence of
insurability (EOI). You will be required to provide EOI for Supplemental Life Insurance coverage in excess of three times pay
(or more than $300,000).
Your life and PAI benefit is based on your earnings. If you have an increase or decrease in your earnings, your coverage
amount will change accordingly, subject to the plan maximum. To maintain your current coverage amount, you should
reevaluate the multiple of earnings used to calculate your coverage amount with every salary change.
Commuter Benefits
You will continue to be able to contribute pre-tax and post-tax dollars to an account that you can use to pay for public
transit—including train, subway, bus, ferry and eligible vanpool—and qualified parking expenses incurred as part of
your daily commute.
You can continue to contribute up to the monthly pre-tax limit of $130 for transit and eligible vanpool and $250 for qualified
parking; these limits are determined by the IRS and are subject to change. The maximum post-tax contribution is $500 for
mass transit or vanpool and $500 for parking.
WageWorks will continue to be the administrator of the program.
*LTD, Life Insurance and PAI rules may vary for unions based on applicable collective bargaining agreements.
Important Information: This document provides brief explanations about Siemens benefits. Complete details of the various benefit plans in the program can be
found in the legal plan documents and insurance contracts that govern the plans in the program. If there is a difference between this information and the documents
and contracts, the documents and contracts will govern. Siemens Corporation reserves the right to amend or terminate the plan or any part of the plan at any time
and for any reason.
What’s Changing and Not Changing 2016
Page 5
What Is Changing
What Is Not Changing
Contributions
Per-paycheck medical plan contributions will increase slightly to reflect the
continuously rising cost of health care across the nation.
Siemens will continue to pay the
majority of the cost of your benefits.
With the move to a new vision carrier, per-paycheck vision plan contributions
will decrease slightly for the Enhanced Vision Plan option and increase slightly
for the Premier Vision Plan option.
The amount you pay for coverage will
continue to depend on the plan options
you elect.
Your contributions for coverage will
continue to be made through pre-tax
and post-tax payroll deductions
(depending on the plan).
Medical
Deductibles will increase under the Health Savings and Health
Reimbursement Medical Plan options as follows:
Plan
Health Savings Medical
Plan Option
Health Reimbursement
Medical Plan Option
2015 Deductible
In-Network
$1,800 individual
$3,600 family
2016 Deductible
In-Network
$1,900 individual
$3,800 family
Out-of-Network
$2,700 individual
$5,400 family
In-Network
$1,300 individual
$3,250 family
Out-of-Network
$2,850 individual
$5,700 family
In-Network
$1,400 individual
$3,500 family
Out-of-Network
$1,950 individual
$4,875 family
Out-of-Network
$2,100 individual
$5,250 family
Out-of-pocket maximums will increase for these medical plan options
as follows:
Plan
Health Savings Medical
Plan Option
(Includes deductible,
coinsurance and combined
medical and prescription
drug expenses)
Health Reimbursement
Medical Plan Option
(Includes deductible and
coinsurance; does not
include prescription drug
expenses)
PPO Medical Plan Option
(Includes deductible and
coinsurance; does not
include prescription drug
expenses)
2015
2016
Out-of-Pocket Maximum Out-of-Pocket Maximum
In-Network
In-Network
$5,000 individual
$5,500 individual
$10,000 family
$11,000 family*
Out-of-Network
$6,500 individual
$13,000 family
In-Network
$3,500 individual
$9,500 family
Out-of-Network
$7,000 individual
$14,000 family
In-Network
$3,700 individual
$10,000 family
Out-of-Network
$4,500 individual
$13,500 family
In-Network
$3,500 individual
$9,500 family
Out-of-Network
$4,700 individual
$14,000 family
In-Network:
$3,700 individual
$10,000 family
Out-of-Network
$4,500 individual
$13,500 family
Out-of-Network
$4,700 individual
$14,000 family
You will continue to have the Health
Savings, Health Reimbursement and
PPO Medical Plan options to choose
from for 2016. Also, Hawaii Medical
Service Association (HMSA), Humana
and Kaiser Permanente HMO medical
plan options will continue to be offered
in certain areas.
If you enroll in the Health Savings or
Health Reimbursement Medical Plan
option, you will continue to be able to
earn Healthy Rewards for completing
certain wellness activities.
Blue Cross Blue Shield and
UnitedHealthcare will continue
to be the administrators of the
Health Reimbursement and
PPO Medical Plan options.
For the Health Savings Medical Plan
option, UnitedHealthcare is the claims
administrator, while the HSA is managed
by Optum Bank. If you are enrolled
in Medicare, neither you nor Siemens
may make contributions to your HSA.
The copays and coinsurance under
the Kaiser Permanente HMO medical
plan option will remain the same.
The Employee Assistance Program
(EAP) will continue to be available to
you (and any family members who
reside with you) through Cigna,
regardless of whether you enroll in
any of the Siemens medical plan
options and regardless of which
medical plan or claims administrator
you select for 2016.
* If an employee covers more than one individual under the Health Savings Medical Plan
option, and one individual reaches $6,850 in eligible in-network out-of-pocket expenses,
all remaining eligible in-network expenses will be paid at 100% for that individual only.
What’s Changing and Not Changing 2016
Page 1
What Is Changing
What Is Not Changing
Medical
The maximum amount you and Siemens can contribute to the HSA for
2016 will be $3,350 per individual and $6,750 per family. Your automatic
company contributions and any Healthy Rewards you earn will count toward
the limit.
There will no longer be a limit on the number of bras provided to women who
have a mastectomy.
We are expanding the Healthy Rewards Program by introducing a new
wellness activity. If you are enrolled in the Health Savings or Health
Reimbursement Medical Plan option, you and your covered spouse or domestic
partner can each earn $50 in Healthy Rewards when you get an annual vision
exam in 2016. Because of this new opportunity and to encourage you to focus
on your health, take action and complete wellness activities, the money
Siemens automatically contributes to your Health Savings Account (HSA) or
Health Reimbursement Account (HRA) will be reduced by $50 (or $100 if you
enroll your spouse or domestic partner).
If you enroll in the Health Savings Medical Plan option, Siemens will make an
automatic contribution of $300 to your HSA if you enroll yourself, and
another $300 if you also enroll your spouse or domestic partner. The
contributions will continue to be made on a per-paycheck basis.
If you enroll in the Health Reimbursement Medical Plan option, Siemens will
make an automatic contribution to your HRA of $450 if you cover yourself
and another $450 if you also cover your spouse or domestic partner. Note: You
cannot make your own contributions to an HRA.
As required under recent Equal Employment Opportunity Commission
regulations, there will be a $1,450 cap per family on the amount of Healthy
Rewards you can earn.
For Outbound Delegates Enrolled in the Cigna International Medical Plan
option: Deductibles, out-of-network coinsurance and out-of-pocket maximums
for coverage in the United States (U.S.) will increase as follows:
Cigna International
Medical Plan Option
Deductible
Coinsurance
Out-of-Pocket Maximum
(Includes medical
deductible and
coinsurance)
Note: For the U.S. plan,
the deductible does not
apply to prescription
drugs. However, for the
international plan, you
must first meet the
medical deductible
before prescription
coverage is available.
2015
2016
In-Network U.S.
$300 individual
$900 family
In-Network U.S.
$650 individual
$1,950 family
Out-of-Network U.S.
$300 individual
$900 family
Out-of-Network U.S.
$950 individual
$2,950 family
In-Network U.S.
You pay 20%
In-Network U.S.
You pay 20%
Out-of-Network U.S.
You pay 20%
Out-of-Network U.S.
You pay 40%
In-Network U.S.
$1,500 individual
$4,500 family
In-Network U.S.
$3,500 individual
$10,500 family
Out-of-Network U.S
$1,500 individual
$4,500 family
Out-of-Network U.S.
$4,500 individual
$13,500 family
What’s Changing and Not Changing 2016
Under the Cigna International Medical
Plan option, employees will continue to
have a $300 individual/$900 family
deductible; pay 20% in coinsurance;
and have a $1,500 individual/$4,500
family out-of-pocket maximum for
services received outside of the U.S.
Page 2
What Is Changing
What Is Not Changing
Prescription Drugs
In an effort to encourage employees to use lower-cost, clinically effective
brand and generic prescription drugs, we are expanding existing
CVS/caremark clinical management programs by:
Adding drug classes to the CVS/caremark High Performance Generic
Step Therapy program.
Replacing the CVS/caremark Preferred Specialty Step Therapy program
with its Advanced Control Specialty Formulary.
We’re also adopting CVS/caremark’s standard compound drug strategy,
which requires prior authorization for compound drugs that exceed $300.
You will continue to have a choice
of generic, preferred brand and
non-preferred brand drugs whenever
you need a prescription.
Coinsurance will remain the same
for those with prescription drug
coverage through CVS/caremark,
and the out-of-pocket maximum will
remain the same for those enrolled in
the Health Reimbursement and PPO
Medical Plan options.
Under the Health Savings Medical Plan
option, the individual or family deductible
must be met before coinsurance for
prescription drugs begins.
Dental
To better align the dental plan design with the American Dental Association’s
(ADA’s) guidelines and industry standards, we are making changes to the
dental plan.
Plan Provision
2015
There will be no increase in paycheck
contributions.
2016
Orthodontia lifetime maximum
per person
$1,250
$1,500
Crowns, Inlays, Onlays, Veneers,
Partial and Complete Dentures, Post
and Cores, Core Buildups, Fixed
Bridges, Implants, Implant Prosthetics
Once every 60
months
Once every 84
months
Prefabricated Stainless Steel and
Resin Crowns, Rebase/Reline of
Dentures (one every 36 months),
General Anesthesia/IV Sedation
In-Network
You pay 20%
In-Network
You pay 40%
Out-of-Network
You pay 40%
Out-of-Network
You pay 50%
In-Network
You pay 20%
In-Network
You pay 20%
Out-of-Network
You pay 40%
Out-of-Network
You pay 40%
In-Network
You pay 20%
In-Network
You pay 40%
Out-of-network
You pay 40%
Out-of-Network
You pay 50%
Unlimited
One surgery every
36 months per
quadrant
In-Network
You pay 20%
In-Network
You pay 20%
Out-of-Network
You pay 40%
Out-of-Network
You pay 40%
In-Network
You pay 20%
In-Network
You pay 40%
Out-of-Network
You pay 40%
Out-of-Network
You pay 50%
Periodontics
Non-Surgical
Surgical
Oral Surgery
Simple Extractions
Surgical Extractions and
All Other Oral Surgery
What’s Changing and Not Changing 2016
Page 3
What Is Changing
What Is Not Changing
Vision
We are introducing a new vision carrier, EyeMed, which has a larger, more
diverse network and an enhanced member web site (and mobile app) that’s
easier to use. Plus, EyeMed offers additional savings for you, including better
discounts on frames.
Contact lens evaluation and fitting coverage will be moved from the Basic
Vision Plan option to the Enhanced and Premier Vision Plan options.
The Basic Vision Plan option will
continue to be provided at no cost.
In addition to the Basic Vision Plan
option, you will continue to have two
buy-up options—the Enhanced Vision
Plan and Premier Vision Plan options
Flexible Spending Account
The Health Care Flexible Spending Account (FSA) contribution limit will
increase from $2,500 to $2,550.
If you are currently enrolled in the
Health Care FSA and enroll in
the Health Savings Medical Plan
option for 2016, you must use all the
money in your Health Care FSA by
December 31, 2015 for Siemens and
you to make contributions to your HSA
beginning January 1, 2016. Because of
the tax-advantaged nature of the two
accounts, you cannot participate in both
at the same time.
If you participate in the Health Savings
Medical Plan option, you will not be
able to contribute to a Health Care FSA.
Instead, you can contribute to a
Limited-Use Health Care FSA. You can
use this account to pay for health care
expenses not related to medical, such
as vision and dental expenses.
You can continue to contribute between
$120 and $5,000 to the Dependent Day
Care FSA in 2016. If you’re married and
file separate tax returns, the maximum
you can contribute is $2,500.
WageWorks will continue to be the
administrator.
Short-Term Disability (STD) and Long-Term Disability (LTD)*
The Short-Term Disability (STD) plan will change for some employees, so all
non-union hourly and salaried employees who become disabled on or after
October 1, 2015 will be covered under one standard plan option (the one that
currently applies to most non-union employees). Under this plan option,
Siemens will pay 90% of your salary for weeks 2 through 7 of your disability
and 66.67% of your salary for weeks 8 through 26, after a seven-day waiting
period. STD benefits will cover non-occupational claims only and will not
provide an offset to Workers Compensation claims. Note: STD plan options
may vary for unions based on applicable collective bargaining agreements.
What’s Changing and Not Changing 2016
Siemens will continue to provide
Company-paid LTD coverage, which
pays a taxable benefit equal to 60% of
your pay during a disability. You have
the option to replace Company-paid LTD
coverage with the post-tax, employeepaid LTD coverage, which pays a taxfree benefit equal to 60% of your pay
during a disability.
Page 4
What Is Not Changing
Life Insurance and Personal Accident Insurance (PAI)*
You continue to automatically receive Company-paid:
Basic Life Insurance equal to two times pay (maximum of $300,000).
PAI equal to two times pay for individual (maximum of $300,000) or one times pay for family.
You continue to have the option to purchase Supplemental, Spouse and Dependent Child Life Insurance.
During Annual Enrollment, or if you experience a qualified life event during the year, you may increase your existing
Supplemental Life Insurance coverage by one level up to three times pay (up to $300,000) without providing evidence of
insurability (EOI). You will be required to provide EOI for Supplemental Life Insurance coverage in excess of three times pay
(or more than $300,000).
Your life and PAI benefit is based on your earnings. If you have an increase or decrease in your earnings, your coverage
amount will change accordingly, subject to the plan maximum. To maintain your current coverage amount, you should
reevaluate the multiple of earnings used to calculate your coverage amount with every salary change.
Commuter Benefits
You will continue to be able to contribute pre-tax and post-tax dollars to an account that you can use to pay for public
transit—including train, subway, bus, ferry and eligible vanpool—and qualified parking expenses incurred as part of
your daily commute.
You can continue to contribute up to the monthly pre-tax limit of $130 for transit and eligible vanpool and $250 for qualified
parking; these limits are determined by the IRS and are subject to change. The maximum post-tax contribution is $500 for
mass transit or vanpool and $500 for parking.
WageWorks will continue to be the administrator of the program.
*LTD, Life Insurance and PAI rules may vary for unions based on applicable collective bargaining agreements.
Important Information: This document provides brief explanations about Siemens benefits. Complete details of the various benefit plans in the program can be
found in the legal plan documents and insurance contracts that govern the plans in the program. If there is a difference between this information and the documents
and contracts, the documents and contracts will govern. Siemens Corporation reserves the right to amend or terminate the plan or any part of the plan at any time
and for any reason.
What’s Changing and Not Changing 2016
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