Oyster provides a very comprehensive offer when it comes to benefits packages that are competitive within the US talent market. The benefits are divided into three main groups:
- Health Insurance: This first group contains all the plan options offered by Oyster. To ensure that all its team members have access to proper coverage regardless of their location within the US and family size.
- Ancillary Benefits: Included in this group are benefits such as EAP, Dental, Vision, Short Term (STD) and Long term Disability (LTD), and Life Accidental Death and Disability (Life, AD&D).
- Voluntary benefits: This category contains optional benefits offered by Vensure. The Team Member fully covers the cost of those benefits without any contribution from the employer.
In the US, companies can only change insurance-related benefits (i.e., types of plans, cost structure) once a year, hence the details below will be valid from January to December 2023.
Below are the four different tiers of benefits Customers with team members based out of the US can choose from:
- Best-in-Class: The highest tier. In this package, the employer will cover 100% of the premium cost for the most comprehensive health, dental and vision plans for both the team member and his family.
- Competitive II: In this package, the employer will pay 100% of the premium for health, dental and Vision plans for the Team member and 50% for his family (for Dental insurance, the employer will pay the values equivalent to the Standard Enhanced Plan.
- Competitive I: In this package, the employer will pay 100% of the team member premium in health, dental, and Vision Plans. But, unlike the Competitive II-tier, the 50% coverage is only applicable (and in the same conditions) to Dental and Vision Insurance. Team members must cover all the health insurance costs related to any dependent.
- Essential: The most basic tier. The employer pays only 80% of the team member's health insurance premium for this package. The team member must bear any additional cost to dependents or to Dental and Vision plans.
- In all tiers, the employer pays 100% of the Short Term (STD) and Long term Disability (LTD) and Life Accidental Death and Disability (Life, AD&D). Those insurances are the same for all employees regardless of tier and location.
- All Team Members, regardless of the tier in which they are, can opt-in for any of the plans and add dependents as long as they cover their respective extra costs
- Currently, Oyster offers only one vision plan to all locations. The only variation in this specific benefit will be the cost split between the employer and team member.
We have partnered with two of the largest health insurance companies in the US, namely Aetna and Kaiser, rated high on both customer service and health coverage.
- National Plans: For Team Members that reside all across the US, excluding California and remote locations. The Team Member can choose between two plans. Aetna provides those plans.
- Remote Location Plan: For Team Members that reside in remote locations in which the coverage in other plans is very limited/non-existent. There is only one option of the plan, also provided by Aetna.
- California Plans: For Team Members in California, Oyster offers specific plans through Kaiser. It is essential to highlight that there are different pricing depending on where they live (Northern California and Southern California).
Ancillary or secondary benefits are benefits offered by Oyster other than health insurance. In this category, the following benefits are included:
- EAP (Employee Assistance Program)
- Short Term (STD) and Long Term Disability (LTD)
- Life, Accidental Death & Disability (Life, AD&D)
- Voluntary Benefits
All ancillary benefits, except pension (by Slavic) and EAP (by Vensure), are provided by Guardian. And they are equally offered to all Team members, regardless of their location within the US.
Team members can opt-in to additional voluntary benefits through Vensure. The Team Member fully pays for those benefits. For more details on the coverages and prices, the Team Member must connect directly with Vensure.
Full coverage details about Oyster Health US can be found in the documents linked below:
Oyster US Benefits Overview
A complete overview of all the benefits offered as part of the US health benefits package (including vision and dental) can be found in this document.
Enrolling your team member
Our onboarding team will help you enroll your Team Members into Oyster Health US after you submit a new hire in the Oyster platform.