Benefits Program

Benefits Program

Interior-Benefits-Program-10-9

Webco offers a host of benefits to its regular full-time employees via Web-Flex, Webco's Flexible Benefit Plan. Web-Flex is part of each employee's total compensation package and allows employees to pay insurance premiums (except life insurance premiums and short-term disability) with pre-tax dollars. At Webco, we strive to ensure that our benefits are not only competitive and innovative, but meet our employees' needs. Our package options include:

Health/Hospitalization Insurance:
Webco offers options that vary by the state in which the employee resides. Plans include a network of preferred providers (a PPO plan) from which an employee may choose. Our plans give our employees the flexibility to determine their best individual healthcare, annual deductible, level of coinsurance, and out-of-pocket expense. Webco provides a generous cost-sharing formula for its employees.

Dental Insurance:
Webco offers several options that vary by the state in which the employee resides. Each state offers a preventative and maintenance plan that covers most preventative and routine dental care and a comprehensive plan that covers most major services. Some states offer a managed dental care plan that utilizes a participating dentist network with a predetermined schedule of co-payments for select services. Each plan offers quality dental care, but premiums vary based on plan selection.

Vision Insurance:
Webco pays 100% for the employee's base vision plan coverage. Employees receive one annual eye exam with $0 co-pay, 20% discount on lenses and frames, 25% discount on laser surgery, and 15% discount on doctor's professional services for contact lenses. Employees pay a minimal cost for dependents. Non-network services are available, include exams only, up to $40.00 every 12 months per covered person.

Cancer Insurance:
Webco offers a voluntary cancer coverage option that will pay in addition to the benefits provided by the employee's health/hospitalization coverage.

Short-Term Disability (STD):
Webco offers a voluntary STD insurance plan. Employees who elect this coverage receive STD coverage at 60% of their current monthly salary after the 7th day of a non-occupational accident or sickness, if they are fully disabled and unable to work.

Long-Term Disability (LTD):
Webco pays 100% of each full-time employee's LTD coverage. The LTD plan covers 60% of the employee's current monthly salary, after the 180th day of suffering a disabling accident or illness on or off the job.

$25,000 Life Insurance:
Webco pays 100% of the coverage for $25,000 of group term life insurance for each full-time employee. Employees may purchase additional life insurance for themselves or their dependents.

Accident Insurance:
Webco offers a 24-hour group accident plan to help cover out-of-pocket expenses associated with an accidental injury.

$25,000 Accidental Death/Dismemberment:
Webco pays 100% of the coverage for $25,000 accidental death/dismemberment insurance for each full-time employee.

Tax-Saver Premium Conversion:
Webco offers this benefit through Web-Flex. This benefit allows employees to convert the cost of most insurance premiums (e.g., health, dental, vision, and cancer) to "pre-tax" dollars. As a result of this premium conversion, the employee pays less federal, state (where applicable) and social security taxes, and takes home more dollars.

Health Care & Dependent Care Reimbursement Accounts:
Webco offers this benefit through Web-Flex. These reimbursement accounts allow employees to set aside "pre-tax" dollars throughout the year and use these dollars for non-premium out-of-pocket health and dependent care expenses (e.g., co-payments, deductibles, daycare, etc.).

Employee Assistance Program (EAP):
For those employed in Oklahoma, Webco pays 100% of the coverage for the EAP, which is available to assist employees and immediate dependents in the identification and resolution of a wide range of personal problems and concerns.

401(k) Plan:
Webco offers and highly encourages participation in its comprehensive 401(k) retirement and savings plan, including employer discretionary matching contributions, participant loan feature and acceptance of rollovers from other qualified plans.

Educational Reimbursement:
Webco reimburses regular full-time employees 100% of approved educational expenses for books, fees and courses offered by accredited institutions, such as high schools, trade schools, technical institutes, community and junior colleges, and universities.

Holidays:
Webco recognizes eight (8) holidays during the year for regular full-time employees.

Vacation:
Webco offers paid vacation to regular full-time employees, based on length of service.

Training and Development Opportunities:
Webco believes that a good employee is an informed, educated and well-trained employee. Therefore, Webco offers employees training and development opportunities to help them grow, advance and be successful.

Profit Sharing:
Webco offers regular full-time employees the opportunity to participate in the Webco Profit Sharing Plan. The Profit Sharing distribution is weighted based on each location's performance.

Direct Deposit:
Webco will electronically deposit an employee's paycheck into his/her bank on payday.

Credit Union:
Webco has arranged an opportunity for employees to join the credit union. Members of a credit union are usually eligible for higher savings interest rates, lower credit card interest rates and other special programs.

Prescription Safety Glasses:
Webco offers operations employees up to a $50 reimbursement for one pair of OSHA-approved prescription glasses with side-shields, once per year.

Free Uniforms:
Webco pays 100% of uniform cost for operations employees. (Employees pay a portion of the cost if they choose full laundry service.)