Health and Wealth
Your health and well-being are important, and Arch offers coverage and programs to support you.
Health
Choose from select plans.
- The Aetna Choice POS II.
- The Aetna Choice POS II HDHP.
- The Kaiser HMO (only for residents of California).
Both Aetna options cover the same services, allow you to receive care from any provider in the Choice POS II network and include prescription drug coverage through Express Scripts.
The Aetna Choice POS II HDHP lets you to pay for your eligible medical expenses with pre-tax dollars using funds in your Health Savings Account (HSA).
Use our interactive comparison tool for assistance with selecting the medical benefits plan that best suits your needs.
Transparency In Coverage: Arch Capital Services LLC Welfare Benefit Plan
Federal regulations known as the Transparency in Coverage Rule require the Arch Capital Services LLC Welfare Benefit Plan (the “Plan”) to make certain machine-readable data files (MRFs) available to the public beginning July 1, 2022. The MRFs provide medical plan pricing information, including information regarding in-network rates for covered items and services and out-of-network allowed amounts and billed charges for covered items and services. MRFs for the medical plan options offered under the Plan are maintained by and hosted on the websites of the vendors who administer those plan options.
Surprise Billing Notice
Arch offers dental coverage through Delta Dental of NY. The plan is a PPO plan, which means you can use any dentist, but you save money when you use providers in the Delta Dental PPO network.
Network dentists accept reduced fees for covered services, so you’ll usually pay the least when you visit a network dentist. Non-Delta Dental dentists may bill you the difference between the contracted fee and their usual fee.
Monthly Dental Premiums
Employee Only – $9.56
Employee + One/Family – $27.78
Arch offers vision services through Vision Service Providers (VSP). Arch pays 100% of your vision coverage premiums for you and your dependents. VSP also offers a Diabetic Eyecare Program.
As a member of VSP, you are eligible to save up to 60% on a pair of hearing aids with TruHearing®. Even if you have a hearing aid benefit from your medical plan, you can combine it with TruHearing prices to reduce your out-of-pocket expense even more.
The Critical Illness plan pays enrollees a lump sum cash benefit (up to $30,000) upon diagnosis of a covered illness.
Standard covered conditions include heart attack, stroke, invasive/non-invasive cancer, end-stage renal failure, major organ transplant and coronary bypass. The plan is Health Savings Account (HSA) compatible.
Choose $10,000, $20,000 or $30,000 Guaranteed Issue Coverage. You may elect coverage for your Spouse/Domestic Partner or child(ren) at 50% of your benefit amount. Benefits are paid directly to you based on a flat schedule (not reimbursement) and there is no coordination with other insurance coverage. An assignment of benefits to a hospital or healthcare facility will be available when required by applicable law.
Arch offers short- and long-term disability insurance at no cost to you to help protect your income and your family in the event you become disabled and unable to work. In addition, Arch provides 10 weeks of parental leave for new parents.
Family Leave coverage is also available. Eligible employees can take a job-protected leave under the Family and Medical Leave Act (FMLA).
Long-Term Disability (LTD) benefits begin when Short-Term Disability (STD) benefits end. If you meet the eligibility requirements, you will receive 60% of your covered annual earnings up to a maximum benefit of $15,000 per month.
You also have the option to purchase supplemental long-term disability, which can provide you an additional benefit of up to a maximum of $15,000 per month.
Wealth
Arch Contributes to your retirement in the following ways:
- Nondiscretionary Matching Contributions: Arch will make a nondiscretionary matching contribution in an amount equal to 100% of the first 3% of your eligible compensation and 50% of the next 3% of your eligible compensation contributed to the Plan. (See also Automatic Enrollment.)
- Employer Non-Elective Contributions: Arch contributes to this plan regardless of your participation in the traditional or Roth 401(k).
You can contribute a percentage of your eligible compensation, either before-tax or after-tax (Roth), to the Plan while investing in a range of funds. If you will be age 50+ any time during the year, you can also participate in the catch-up option.
Automatic Enrollment
Eligible employees will be automatically enrolled in the retirement plan 90 days from date of hire. If you are subject to automatic enrollment, you will be notified approximately 30 days before Arch begins to automatically deduct 6% from your pay on a pre-tax basis as a deferral contribution for you to the Plan. You may stop or change this automatic contribution at any time by accessing your account at www.401k.com.
Get $3,000 per year to pay off student debt.
Our partnership with SoFi offers you several ways to manage and reduce the cost of your student debt.
- When you enroll in the Student Loan Assistance Program, Arch will contribute $250 monthly — $3,000 a year — towards the principal on your student loans. You will still be responsible for making at least the minimum monthly payment. This contribution will simply help you pay it off faster.
- You can also reduce the cost of your student debt by refinancing with SoFi at competitive rates. When you refinance, you will receive a $300 bonus from SoFi. SoFi refinances federal and private student loans. Visit SoFi to learn more.
- Eligible loans are loans solely in the employee’s name, for their own education. Cosigned loans and Parent PLUS loans are ineligible.
The Arch Employee Share Purchase Plan (ESPP) lets you share in the company’s success. Eligible employees can buy company stock at a discount through payroll deductions.
There are two enrollment periods each year. Shares are purchased at a 15% discount based on the stock price on first day of the offering period.
Flexible Spending Accounts (FSAs) are available and offer the ability for you to save money to be used to pay for eligible expenses while lowering your taxes. Arch gives you access to the following accounts:
- Health Care Flexible Spending Account (HCFSA) allows you to set aside pre-tax dollars to pay for eligible expenses that are not covered by any health care plan. If you are enrolled in the Aetna Choice POS II HDHP, you are not eligible to elect this plan.
- Limited Flexible Spending Account (LFSA) allows you to set aside pre-tax dollars to pay for eligible dental or vision expenses. If you are enrolled in the Aetna Choice POS II HDHP plan, you are only eligible to elect the LFSA.
- Dependent Care Flexible Spending Account (DCFSA) allows you to set aside pre-tax dollars to pay for dependent care expenses for your children or other eligible dependents, so you (and your spouse, if you’re married) can work (or so your spouse can attend school full time).
FSAs are funded entirely with your voluntary contributions. Your contributions are automatically deducted from your paychecks on a before-tax basis — this means they are not subject to federal income, Social Security and, in most cases, state income taxes.
When you have an eligible expense, such as monthly daycare or contact lenses, you’re paid back from the money you set aside — and you don’t pay taxes on that reimbursement. Your tax savings offset part of your costs.
For California employees: If you participate in one or both of Arch’s flexible spending accounts for a year, you normally have until March 31 of the following year to request reimbursement from your account. However, if you terminate employment during the year, you must submit your requests for reimbursement by the 90th day after you terminate employment. Any reimbursement requests submitted after the applicable deadline will not be approved.
Key Features of Each FSA
- HCFSA – Can contribute up to $3,200 annually; carryover of up to $640; for medical, dental and vision expenses; do not need to be enrolled in Arch medical plan.
- LPFSA – Can contribute up to $3,200 annually; carryover of up to $640; for dental and vision expenses only; must be enrolled in Arch’s HDHP plan.
- DCFSA – Contribute up to $5,000 annually, no carryover, used for eligible child care or adult dependent care expenses.
Arch provides you with coverage for the amount of two times your base annual salary, up to $500,000, under the Arch Group Travel Life Insurance Plan. This coverage is available to you at no cost and provides additional protection for you while on required business travel away from your permanently assigned place of business.
Arch provides you with basic life and accidental death and dismemberment (AD&D) insurance at no cost to you. The life benefit is three times your base salary to a maximum of $500,000.
Employer sponsored plans that have a benefit in excess of $50,000 are taxable to the employee. The taxable amount is imputed income and will be automatically calculated each pay period. You may elect a flat $50,000 benefit to eliminate the additional tax liability.
You also have the option to purchase supplemental coverage for you, your spouse and your children. While everyone needs some level of life insurance coverage, the amount that is right for you will depend on a number of factors including your age, family status and personal savings.