2020 Benefits Guide For Eligible Union & Non-Union Employees

--

2020 Benefits Guide For Eligible Union & Non-Union Employees

This communication relates to a Benefit Program sponsored by ABB Inc. for employees of ABB Inc. and its participating affiliate companies (the "Company"). The benefits described are subject to the full terms and conditions of the Plan documents and insurance and/or other contracts that govern the Plan or the Benefit Programs. If there is a discrepancy between this communication and the Plan documents and contracts, the Plan documents and contracts will control. While the Company has a present intention to continue to provide the benefits described herein, it expressly reserves the right to amend, suspend, discontinue or terminate the Plan and/or any Benefit Program, or to change the content of this overview or summary at any time. If you need more information on this communication, please contact your local HRBP or the benefit provider for the Plan.

1

-- Table of contents

002 Welcome!

003A quick look at the ABB benefits program

003 Understand your benefit options

004 Who can I cover?

005 Enroll

007 The Healthcare plans

7 The 2020 medical plans 8 Overview of the medical plans 11 Three cost saving features of the prescription drug plan 12 The health reimbursement arrangement (HRA) and the health savings account (HSA) 14 Tobacco use counts in what you pay for medical coverage 15 The ABB wellness program -- my well-being 16 The dental plan 17 The vision plan 18 Flexible spending accounts (FSAs)

018 Insurance

18 Basic life insurance and accidental death and dismemberment (AD&D) insurance

19 Optional group term life (GTL) insurance and voluntary AD&D insurance

20 Short-term disability (STD) and long-term disability (LTD) coverage

020 Your 2020 benefit contributions

022 Time to enroll

023 Required health plan notices

025 Contacts

2

2020 BENEFITS GUIDE

-- Welcome! We look forward to introducing you to the ABB Benefits Program! Your ABB benefits offer choice, flexibility, and the opportunity to protect your health and provide for your financial protection. We hope you'll take the time to learn more about the program and how to use it. Welcome to ABB!

3

A quick look at the Understand your ABB benefits program benefit options

ABB provides the following benefits automatically:

? Basic Life Insurance ? Basic Accidental Death & Dismemberment (AD&D)

Insurance ? Business Travel Accident Insurance ? Short-Term Disability Benefits ? Long-Term Disability Benefits (60% of salary) ? Employee Assistance Program (EAP) ? ABB Well-Being Program For other benefits, you need to enroll to have coverage. Please use this guide to learn more about your benefits and how to enroll.

REMINDER! Don't forget the 401(k)!

Learning what's available is the first step in understanding your benefit options.

Steps to Take

1 Review this benefits guide. It provides an

overview of the benefits available for 2020.

2 Visit the ABB benefits website,

(), to find tips, tools and resources to help you use your benefits. On you can access important Plan documents and links to Employee Self Service Portals to enroll online.

3 Have questions? Go online to AskHR or

call AskHR at 1-888-694-7762 if you have benefits-related questions.

4 Once you've made your choices, enroll in the

benefits that meet your needs!

ABB's 401(k) Retirement Savings Plan has an automatic 3% ABB contribution, which eligible employees receive each pay period, whether or not they enroll in the plan.

If you enroll in the plan, ABB will make generous matching contributions based on your participation.

You can enroll at any time. To help you get started, if you have not enrolled within the next 60 days, you will be automatically enrolled in the plan at 6% of pay. You can opt out, but you will lose the ABB match, which is free money just for participating.

To learn more, go to and select the "Retirement" tab. Then visit the Merrill Lynch website at benefits. to enroll and set up your account. Or use the Benefits OnLine (BOL) Mobile App to connect to your 401(k) account whenever and wherever you want directly from your SmartPhone.

Enroll for benefits within 31 days of your benefit eligibility date!

4

2020 BENEFITS GUIDE

Who can I cover?

If you enroll yourself, you can also enroll the following eligible dependents in your benefits coverage: ? Your legal spouse (excluding your legally separated or divorced spouse). ? Your same-sex or opposite-sex domestic partner* who meets the following requirements:

? The domestic partnership is registered with any state or local government domestic partner registry, OR ? All the following requirements must be met:

? Living at the same address as you for six months or more, ? Not married to anyone else nor a member of another domestic partnership that has not been terminated, dissolved

or annulled, ? Not a blood relative in a way that would prevent either person from being married to each other under the laws of the

state of residence, ? Mentally competent to enter into binding contracts at the beginning of the domestic partnership, ? Jointly responsible for each other's care and living expenses, and ? Over 18 years of age. ? Your and/or your spouse's/domestic partner's children from birth up to their 26th birthday (including your own children, stepchildren, legally adopted children, children placed for adoption, legal foster children and children for whom you are the legal guardian). ? Your and/or your spouse's/domestic partner's unmarried children of any age who are incapable of self-support and chiefly dependent upon you for support because of a physical or mental disability that began before the dependent reached the limiting age, if the child was covered by the Plan at the time he or she reached the age 26 coverage limit. You must submit proof of your child's disability to the ABB HR Center within 31 days after the child reaches the age 26 coverage limit. Health plan carriers may request proof periodically. ? Your and/or your spouse's/domestic partner's unmarried children who become eligible for medical coverage under the terms of a Qualified Medical Child Support Order (QMCSO). Contact the ABB HR Center for more information.

* If you are adding a domestic partner and/or their child(ren) for coverage, your employee portion of the premiums will be deducted from your paycheck on a pretax basis, while the premiums for your domestic partner and their child(ren) will be deducted from your paycheck on an aftertax basis. You will also be responsible for paying tax on the imputed income associated with the Company-paid portion of premiums for your domestic partner and/or their child(ren).

5

Enroll

When can I enroll and/or change my benefit elections?

You are eligible for benefits on your benefit eligibility date. You have 31 days from your benefits eligibility date to make your health benefit elections. You will receive a temporary User ID and password to enroll. You will be asked to change those when you log in to enroll. Enrollment is online at the following: ABB Employees: Enroll online at . If you have questions about your benefits, submit your question through AskHR or call 1-888-694-7762. Passwords to access AskHR must be reset every 90 days through Password Manager. If you need to reset your password for access, call MyIS at 877-222-2729 or visit MyIS. ABB Installation Products Inc. (formerly T&B) Employees (under legacy TnB system): Enroll online at . Enter your User ID and Password. If you have questions about your benefits, submit your question through AskHR or call 1-888-694-7762.

Don't forget to enroll!

You have 31 Days from your eligibility date to make your benefit elections.

When can I change my elections?

After you have made your benefit elections, you cannot change your coverage options until the next Open Enrollment period, which occurs each fall -- unless you experience a qualified life event. Examples include marriage, the birth/adoption of a child, divorce, etc. In that case, you can make changes to your health benefits as follows:

ABB: ? You must notify AskHR and make any necessary changes to your benefits within 31 days of a qualifying life event. Most

events, if reported within 31 days after the event, will be effective on the date of the event.

ABB Installation Products Inc.: ? You must complete the life event form on or notify your Human Resources Representative

to make any necessary changes to your benefits within 31 days of a qualifying life event.

For more information on qualified life events and the changes you can make, see the ABB Active Employee Group Benefit Plan posted on .

If you don't enroll by the enrollment deadline, you will receive limited "default" benefits for yourself only.

6

2020 BENEFITS GUIDE

What will my 2020 coverage be if I don't enroll?

Each employee is required to make a medical plan election ? to either accept or waive ABB medical coverage. Please refer to the rate charts in the section "Your 2020 benefit contributions" to see your cost for benefits.

Plan Name

If You're a New Hire during 2020...

Medical (Health Reimbursement Plan or Health Savings Plan) under BlueAdvantage Tobacco-Free Credit (attached to medical coverage)

Dental

You MUST make a medical plan election ? to either accept or waive coverage. This is required under Health Care Reform.

You will pay the higher tobacco-user medical plan rates when you enroll in medical unless you qualify for and elect a tobacco-free election.*

No coverage

Vision

No coverage

Basic Life Insurance

2X Annual Salary** or $50,000 whichever is greater

Voluntary Group Term Life Insurance

No coverage

Basic Accidental Death & Dismemberment Insurance

Optional Accidental Death & Dismemberment Insurance

Short-Term Disability (STD)

1X Annual Salary No coverage 26 weeks of coverage

Long-Term Disability (LTD)

Coverage equal to 60% of salary

Health Savings Account (HSA)

No Company or personal contributions

Flexible Spending Accounts (Health Care, Limited Scope Health Care, Dependent Day Care)

No contribution

* Your health plan is committed to helping you achieve your best health. Rewards for participating in a voluntary wellness program are available to all eligible employees. If you think you might be unable to meet a standard for a reward under this wellness program, you might qualify for an opportunity to earn the same reward by different means. Contact Limeade at 877-777-3150 or log on to mywellbeingabb. and they will work with you (and if you wish, your doctor) to find a wellness program with the same reward that is right for you in light of your health status.

** Federal regulations require that when an employer provides Company-paid group term life insurance coverage for an employee in an amount greater than $50,000, either directly or indirectly, the employee must pay tax on the amount of the Company-paid premium for coverage amounts in excess of $50,000. This is called "imputed income" and is reflected in your paycheck each payday in the "earnings" section of your pay stub. The IRS establishes the cost per month for each additional $1,000 of coverage based on age.

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download