7.7 Health Savings Account (HSA)
INSITE provides individuals enrolling in a qualifying high deductible health plan (HDHP) access to an HSA account. HSA accounts are owned by the individual. Both the individual and INSITE may contribute money to the HSA. The money saved in an HSA account rolls over each year and does not need to be fully utilized by the end of the year. All unspent money in the HSA account, including company contributions, belongs to the individual and follows that individual should they leave INSITE or retire. The money contributed to your HSA account can be used to pay for co-pays, co-insurance, insurance premiums, doctor visits, surgeries, OTC medications, prescription drugs, dental exams, orthodontia, vision exams, glasses, and other eligible expenses. HSA contributions are not available upfront at the beginning of the year after you enroll. Your pledged deferral amount, along with any company contributions, are deducted each pay-period and remitted to the HSA administrator. You may only utilize the money that is readily available in your HSA account to pay for eligible expenses.
Contact Human Resources for a copy of the plan summary and for questions about this benefit.
7.8 Paid Time Off (PTO)
Paid Time Off is a benefit available while actively at work with INSITE . All exempt full-time employees are eligible to use up to 20 days of PTO per calendar year. All non exempt full-time employees are eligible to use up to 10 days of PTO per calendar year. An employee's actual PTO available for use is based on the following calculation (number of pay periods actively at work with INSITE during the calendar year, divided by the number of pay periods in a calendar year (usually 26), multiplied by 20 for exempt employees, multiplied by 10 for non exempt employees). The maximum number of PTO available to any employee, during any calendar year, cannot exceed 20 days. • ! PTO is calculated based on full-time employees working five working days per week and eight hours per day. • ! PTO is available for new employees after their first month with INSITE . • ! PTO days reset with each new calendar year. • ! PTO days cannot be carried over from one calendar year to another calendar year. • ! PTO is defined as any time away from work. If an employee is not in office, at a client site, or working from home, they will be required to accurately report and utilize their PTO time. • ! PTO should be scheduled in advance and approved by your manager. Managers have the right to decline or limit PTO requests based on current business needs. Excessive use of unscheduled PTO may lead to disciplinary action, up to and including termination. • ! Once an employee provides notice of resignation to the company, all PTO benefits are forfeited. • ! PTO is a benefit only available to INSITE employees who remain actively at-work. • ! PTO does not have an extrinsic monetary value; it is not vested and will not be paid to the employee upon separation whether at-will or for cause. Should an employee resign or be terminated, INSITE will review that employee's actual PTO against their calculated PTO allotment (using the formula outlined above). PTO benefits used in excess of the calculated amount will be recovered from the employee's final paycheck.
Employee Handbook
September 2021
24
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