What Employee Benefits does Berry Insurance Offer?

Making a career change is a big decision. If you’re considering taking on a job at a new company, you definitely need to evaluate if the role matches your skill set, if it will fulfill you, if you align with the company culture and values, and if you like the people you’ll be working with.

But there are other things you also need to consider - benefits for instance.

Benefits are important - you want to know your company can provide you with a job you love, but also with personal benefits and a work/life balance that fits your situation. 

And if you’re considering a role at Berry Insurance, we want you to know what to expect when it comes to benefits. So in this article, we will outline all the benefits Berry Insurance offers so you can be prepared with everything you need to know before formally signing a job offer.

Paid time off 

Berry Insurance offers a generous unlimited PTO policy with a minimum requirement of 120 hours off. We know all our team members have families and busy lives outside of work, so as long as job expectations are being met and time off is properly covered, we want our team to have the flexibility they deserve.

To request PTO, employees must first check with the rest of their department to make sure there is adequate coverage and the rest of the team feels supported. Once the rest of the team confirms they are comfortable with the time off, the employee can then request it to their manager in our online HR software. 

Health Insurance

All full-time employees (30 or more hours worked per year) are eligible for a Harvard Pilgrim health insurance plan, active immediately.

Berry insurance pays 70% of the premium, with the other 30% deducted from the employee’s bi-weekly plan.

As of 2023, costs for the plan are as outlined below:

2023 Plan: Harvard Pilgrim HMO 1500 Flex

Subscriber: $796.19/month (total cost) = $110.24 per pay period (employee share)

Dual: $1,592.39/month (total cost) = $220.48 per pay period (employee share)

EK: $1,472.96/month (total cost) = $203.95 per pay period (employee share)

Family: $2,269.16/month (total cost) = $314.19 per pay period (employee share)

Berry Insurance currently does not offer dental or vision insurance.

Health Reimbursement Arrangement (HRA)

Employees enrolled in the agency’s health plan are also eligible for the Health Reimbursement Arrangement (HRA) program.

The Agency will contribute up to a maximum of 50% of the health plan deductibles per plan year according to the schedule below:

The insured will receive refund checks in the mail for the used portion of their deductible.

Flexible Spending Accounts (FSA) – 

Berry Insurance also offers a Flexible Spending Account, including a company-contribution for qualified expenses (e.g., co-pays, coinsurance, deductibles, prescription medications, etc.)

The agency contributes $500 to each employee’s FSA, whether or not they elect to enroll in the agency-sponsored health plan. 

In addition to the company contribution, employees may also contribute to the FSA by entering into a salary conversion arrangement which provides the opportunity to set aside a portion of their earnings on a pre-tax basis. The current annual benefit maximum is $2,750. 

Employees may also contribute to the Dependent Care Flexible Spending plan by entering into a separate salary conversion arrangement which provides the opportunity to set aside a portion of your earnings on a pre-tax basis for qualified expenses (e.g., daycare). The current annual benefit maximum is $5,000 per household. 

Group Term Life 

Berry Insurance offers a group term life insurance program, paid entirely by the agency. 

All full-time employees (25 hours per week or more) are eligible for two times their annual salary, capped at $100,000 total. 

At age 70 the benefit reduces to 65% - at age 75 benefit reduces to 50%.

Long-Term Disability

In the case that an accident or illness causes an employee to be unable to work, Berry Insurance offers a long-term disability insurance program, paid for by the agency. Injured or ill employees would be eligible to earn 60% of their salary, with a maximum of $5,000 per month.

After 90 days of employment, all full-time employees (25 hours per week or more) are eligible for the program.

Simple IRA Plan 

For retirement savings, Berry Insurance employees are eligible for Simple IRA salary deferrals from 1% to 15% of compensation on a pre-tax basis up to the IRS annual maximum including catch-up contributions for employees over 50 years of age.

Berry Insurance makes a contribution to the account of each eligible participant in an amount equal to 3% of the employee’s bi-weekly compensation.

Experience the benefits of Berry Insurance

Outside of the standard employee benefits we outlined in this article, if you join the Berry Insurance team, you’ll likely discover your own personal benefits that contribute to your job satisfaction.

To learn more about what that might look like, check out this article where each of our employees outline Benefits of Working for a Small Family-run Insurance Agency.