We offer several forms of insurance for our employees: medical (health, dental, and vision), life, and disability. Health insurance is only available to full-time employees, while life and disability are available to all employees.
Osio Labs' health insurance benefits are intended to protect you and your family from financial loss resulting from hospital, surgical, or other health-related expenses. Eligible employees may elect to begin health insurance benefits on the first day of employment. Note that only full-time employees are eligible for health insurance.
Note that this section specifically applies to U.S. employees. Danish employees already have state-provided health care. Extended health insurance for Danish employees can be provided if required. Contact the CEO to discuss extended options.
For details on the specific health insurance plans available through Osio Labs contact our Insperity representative. We encourage both you and your family to review the plan's Summary Plan Description carefully. Below you will find an outline of U.S. employee benefits, provided through Insperity:
- Medical Insurance: United Healthcare Choice Plus ($250 deductible)
- Dental Insurance: United Healthcare Dental PPO ($50 deductible)
- Vision Insurance: Vision Service Plan ($15–$25 copay)
You also have the option to use a Flexible Spending Account (FSA) to save money, pretax, towards your medical expenses.
The U.S. Consolidated Omnibus Budget Reconciliation Act (COBRA) is a U.S. law that requires most employers sponsoring group health plans to offer a temporary continuation of group health coverage when coverage would otherwise be lost due to certain specific events.
Through COBRA, employees and their qualified beneficiaries have the right to continue group health insurance coverage after a "qualifying event." The following are qualifying events:
- Resignation or termination of the employee
- Death of the covered employee
- A reduction in the employee's hours
- For spouses and eligible dependents, the employee's entitlement to Medicare
- Divorce or legal separation of the covered employee and his or her spouse
- A dependent child no longer meeting eligibility requirements under the group health plan
Under COBRA, the employee or beneficiary pays the full cost of health insurance coverage at Osio Labs' group rates plus possibly an administration fee.
After termination of your employment, you will work with Insperity to set up a plan for insurance. Within 30 days from your last day of work you will receive overall information and terms outlining the COBRA benefits available and you will have 60 days to accept or decline. Failure to reply within 60 days will be construed as a rejection of COBRA coverage.
The employee, or family member, has the responsibility to inform Insperity of a divorce, legal separation, or a child losing dependent status within 60 days of the event. Osio Labs has the responsibility to notify the Insperity of the employee's death, termination of employment, or reduction in hours.
Once the notification has been made to Insperity, they will inform the employee that he or she has the right to chose continuation of coverage. If employees choose to continue coverage, Osio Labs is required to provide coverage which is identical to the coverage provided under the plan to similarly situated employees or family members.
Continuation of coverage is extended from the date of the qualifying event for a period of 18 to 36 months. The length of time for which continuation coverage is to be made available (i.e., the "maximum period" of continuation coverage) depends on the type of qualifying event that gave rise to the employee's COBRA rights.
An employee's continuation of coverage may be cut short for any of the following reasons:
- Osio Labs no longer provides group health coverage to any of its employees.
- The premium for your continuation coverage is not paid in full on a timely basis.
- You become covered under another group health plan that does not contain any exclusion or limitation with respect to any pre-existing condition.
- You become entitled to Medicare.
An important facet of your benefits at Osio Labs is your life insurance. We provide a policy that will match your annual salary up to $50,000. Eligible employees may elect to take this coverage. Employees may also purchase additional protection, above and beyond what is covered by Osio Labs.
Full-time employees may elect to begin life insurance benefits on the first day of employment. Part-time employees will need to work on a personal plan with the CEO, to be started as soon as possible after employment. Upon attaining eligibility for Osio Labs life insurance coverage, employees will be asked to designate a beneficiary. You may request a change in beneficiary at any time.
For additional details, full-time U.S. employees should refer to the Insperity coverage documents, and part-time and non-U.S. employees should contact the CEO.
If you suffer an injury or medical condition that makes you unfit for work for more than 2 weeks, you may be eligible for disability coverage. Osio Labs provides, and pays 100% of the premium for, short and long-term disability insurance.
The coverage for full-time employees will pay up to 60% of covered weekly earnings (up to $2,308 per week) and begins on the 15th day of disability. Coverage for part-time employees will vary and depends on your personalized plan.
Employees who are injured on the job at Osio Labs are eligible for Workers' Compensation benefits. Such benefits cover any injury or illness sustained in the course of employment that requires medical treatment. We have workers' compensation policies in place is all countries where we have employees.
All job-related accidents or illnesses must be reported to the CEO immediately upon occurrence. The CEO will then immediately contact the appropriate source, based on country, to obtain the required claim forms and instructions.