BANKW Staffing Medical Plan Contract Employees
Offer of Coverage | Benefit Summary Guide | Election Forms
Effective December 1, 2020 – November 30, 2021
Offer of Coverage
We are pleased to provide you with information about the BANKW Staffing Medical Plan. This notice describes eligibility
requirements for the Medical Plan and explains our procedures for electing coverage. Please review this information
carefully.
The Affordable Care Act and IRS require us to make an offer of coverage to all employees who may be eligible for medical
benefits. A contract employee will be eligible to participate in the Medical Plan if the employee is a common law employee
of BANKW Staffing, LLC (the “Company”), and its affiliated companies, KBW Financial Staffing & Recruiting, Alexander
Technology Group, The Nagler Group, Sales Search Partners and /or KNF&T (together with the Company, the Companies”)
and is considered to be “full-time”. We determine whether a contract employee is full-time using the rules set forth in
Eligibility Policy for Contract Employees. All other plan documents can be found here
.
At the time of hire, we will provide each contract employee, electronically, with a notice describing the coverage available
under our Medical Plan, as well as enrollment instructions.
If the contract employee elects coverage under our Medical Plan within the 30-calendar day period, the coverage will begin
on the 90th day following the commencement of employment, so long as the employee is determined be a full-time employee
as of the 90th day, and will continue for the duration of the Initial Measurement Period, provided the employee remains
employed at the Companies. A contract employee who is not determined to be “full time” as of the 90th day following
commencement of employment will not be eligible for coverage during the employee’s Initial Measurement Period. Please
carefully review the below polices and information carefully. In the event of any conflict between the content of this notice
and the policy, the policy controls.
To elect coverage, please complete and return the medical plan election form(s) below with your intention to enroll
within 30 calendar days of the original date-of-hire. You may send the form via email hr@bankwstaffing.com
or fax 1-
866-313- 4798. Once received, you will receive an email with further instructions and be granted login access to our online
benefit management system. During the registration process you will be required to enter and confirm personal identifying
data and ensure your current medical enrollment is correct. Your online enrollment in medical plan must be completed by
your eligibility date.
Additionally, the Affordable Care Act created an online marketplace to find, compare and purchasing health insurance
coverage, referred to as a Health Insurance Marketplace, or Exchange. Please view The Healthcare Exchange Notice
to
review details. If you purchase coverage through the Marketplace, you may be eligible for a federal subsidy that lowers your
monthly premiums or reduces your cost sharing. However, to receive these federal savings, you cannot be eligible for health
plan coverage through the Company that is affordable and provides "minimum value." More information on the health
care reform law and the Marketplaces is available at www.healthcare.gov .
Employee Acknowledgement: I acknowledge I have received the BANKW Staffing Offer of Coverage, polices and
information about eligibility and election process described above.
Printed Name:
Date:
Contract employees must notify the Company within 30 calendar days of the original date-of-hire (whether or
not the employee is employed with the Company for the entire 30-day period) as to whether or not the contract
employee will choose to enroll in or waive coverage under our Medical Plan for the Initial Measurement Period.
If the contract employee does not respond within that period, the Company will assume the contract employee has
chosen to waive coverage for the Initial Measurement Period. Otherwise, your next opportunity to elect coverage will
be during the Standard Stability Period, under the look-back measurement method for Ongoing Employees as outlined
in the
Eligibility Policy for Contract Employees, unless you have a qualifying special enrollment or status change
event under applicable law.