2016 Newfield Benefits
Plans Available to You
Choose between a UnitedHealthcare (UHC) high-deductible health plan (HDHP) or a preferred provider organization (PPO) plan. Both plans cover preventive care at no cost to you. The plans differ in the way you pay for medical care, and the HDHP has lower premium contributions and a higher deductible than the PPO. The HDHP also has a health savings account (HSA) available.
Prescription drug coverage through Express Scripts is included with your medical plan election. Your costs for covered medications depend on your medical plan and the type of drug. Express Scripts has a mail order pharmacy to save you money on maintenance medications.
Our UHC dental plan covers exams, dental treatment and orthodontia (for children ages 6 to 19). You can see any provider, but you'll pay less with UHC network dentists.
Our vision coverage through Vision Service Plan (VSP) can save you money on eye exams, glasses and contacts. VSP offers discounts on other eye care needs, and you save money by using a network provider.
Saving Money and Taking Care
The Tango Health HSA is available if you you enroll in the HDHP. You can set aside pretax dollars to pay for eligible expenses now or in the future. Funds roll over from year to year and are yours to keep, even if you change jobs or medical plans.
Newfield will make a company contribution to your account of $750 if you only cover yourself or $1,500 if you cover family members.
FSAs (administered by UHC) let you set aside pretax dollars for eligible health care and/or dependent day care expenses. You forfeit unused funds at the end of the plan year, so it's important to estimate your annual contribution carefully. If you participate in the HSA, you are not allowed to have a health care FSA (due to IRS rules).
Our Cigna EAP offers free, confidential counseling to you and your family members.
Newfield offers company-paid basic life and AD&D coverage through Cigna to employees, and basic AD&D for spouses and children.
You can purchase voluntary life insurance for yourself and your family for additional financial protection.
STD and LTD replace a portion of your income if you have an approved medical leave from work. Cigna administers our plans.
With our 401(k) through Charles Schwab, you can save for retirement with pretax, Roth and/or after-tax contributions. Newfield will match your contributions to help your savings grow faster.
The ESPP gives you the opportunity to become a stakeholder in the company by purchasing Newfield stock at a discount through payroll deductions. Charles Schwab administers our plan.