Benefit Definitions
401(k): A Dot Holdings-sponsored retirement savings plan managed by Principal.
Blue Cross Blue Shield of Illinois (BCBSIL): The insurance company that administers Dot’s health plan.
Co-insurance: Under all Dot medical plans, when you have met your in-network deductible, you pay for 20% of medical costs and your employer pays for 80% of the services until you reach your max. out-of-pocket costs. This means you are splitting the medical care costs with the company.
Deductible: The amount of money you will pay for medical expenses, prescriptions and supplies. Every plan has its specified deductible limit; when you reach that limit, co-insurance is applied and helps cover a percentage of the costs.
Health Savings Account (HSA): A savings account used in conjunction with the Orange and Green Plans that allows employees to save money tax-free for medical expenses.
In-Network: A group of providers or health care facilities that offer discounted rates through BCBSIL. You should always confirm at the beginning of each year that your provider or health care facility is in-network before scheduling an appointment or procedure to avoid extra costs.
Max Out-of-Pocket: The most amount of money you will have to pay in any one calendar year (January–December) for in-network medical bills. Your deductible is included in this maximum number.
Out-of-Network: Physicians, hospitals or other health care providers who do not participate in the BCBSIL network of providers. Services, tests, and procedures provided by out-of-network health professionals may not be covered or paid for only in part by the insurance company. Out-of-network bills will always cost more than in-network services.
Premium: The amount of money you pay out of each paycheck throughout the year for insurance. Pretax
Deduction: Money removed from an employee’s wages before withholding taxes. Pre-tax deductions are used to pay employee premiums of some benefits. Pretax deductions reduce your taxable wages, meaning you will likely owe less federal income tax as well as other taxes.
Preventive Visits: Services that are paid for 100% by Dot’s medical plans, such as flu shots, routine annual physicals, well women exams, mammograms, and colonoscopies. Vesting: The amount of time you have to work at Dot/DTI to earn Dot’s full 401(k) and profit-sharing contributions. This means the longer you work for Dot/DTI, the more of those dollars you can take with you if you ever leave the company.