Madison National Life offers employees the opportunity to pay for their eligible out-of-pocket medical, dental and vision expenses, dependent care expenses, and medical and dental insurance premium contributions with pre-tax income. This is made possible through Madison National Life’s Section 125 Cafeteria Plan which features Medical and Dependent Care Flexible Spending Accounts.
Employees may contribute each year up to the Federally allowed limits for dependent care expenses and out-of-pocket medical, dental, and/or vision expenses.
Health Savings Account (HSA)
Madison National Life offers an HSA to employees who select its Qualified High Deductible Health Plan. The HSA enables the employee to contribute tax-free income to their HSA up to the Federally allowed limit. These dollars can be used to pay for out-of-pocket health care expenses. Unused monies can grow and accumulate to help pay for future out-of-pocket health care expenses, even retirement1!
Madison National Lifes also contributes annually to each employee’s HSA that enrolls in the Qualified High Deductible Health Plan.
- Using Your HSA as a Retirement Savings Tool
Short Term Disability Insurance
Madison National Life provides basic Short Term Disability insurance for all regular full-time employees at no cost. The weekly benefit is $250. All regular full-time employees are eligible to enroll. Coverage begins on the first of the month following thirty days of employment. Employees may also purchase voluntary Short Term Disability insurance up to 66.67% of weekly earnings up to a maximum of $1,000. The premium for voluntary Short Term Disability insurance is paid by the employee. Short Term Disability insurance benefits are payable for disabilities following a 7 day elimination period and for up to 12 weeks of paid benefits.
Long Term Disability
Madison National Life provides Long Term Disability insurance for all regular full-time employees at no cost. It’s designed to provide monthly income if the employee is unable to work due to an eligible disability. All regular full-time employees are eligible to enroll. Coverage begins on the first of the month following ninety days of employment. Benefits begin three months following the date of disability. The monthly benefit payment is equal to 60% of the regular full-time employee’s monthly gross base salary.
The 401(k) Retirement Savings Plan enables regular full time employees to save for retirement with pre-tax dollars, while the Roth 401(k) Plan enables the employee to save for retirement with post-tax dollars. Participants are eligible to receive a matching contribution from Madison National Life to either plan. All regular full-time and regular part-time employees are eligible to participate in the 401(k) Retirement Savings Plan upon completion of three months and 250 hours of service.
Time Off and Paid Holidays
- 1 to 4 years of consecutive employment—10 days per year
- 5 to 14 years of consecutive employment—15 days per year
- 15 years or more of consecutive employment—20 days per year
- 10 days per calendar year, 3 of which can be used for the employee’s personal business
- New Year’s Day
- Memorial Day (Last Monday in May)
- Independence Day (July 4th)
- Labor Day (1st Monday in September)
- Thanksgiving Day (4th Thursday in November)
- Thanksgiving Friday (Friday after Thanksgiving)
- Christmas Eve Day (December 24th)
- Christmas Day (December 25th)
- Floating Holidays (Employee’s Choice)
Travel Accident Insurance
Madison National Life provides travel accident insurance coverage for all regular full-time employees who work at least 30 hours per week. In general, the insurance policy provides a death benefit of $400,000 per person while traveling on Madison National Life business. The insurance policy also covers all regular full-time, hourly, non-exempt employees with a death benefit of $50,000.
Educational Opportunities /Tuition Reimbursement
Madison National Life takes an interest in each employee’s on-the-job progress and continuing industry education. For this reason, a variety of educational opportunities, including tuition reimbursement program are supported by Madison National Life.
Casual Dress Policy
Our primary objective is to have employees project a professional image, while enjoying more casual and relaxed fashions, defined as casual attire. Casual attire is an option, not a requirement. Employees may choose to wear casual attire, Monday through Friday, for a more comfortable work atmosphere.
Employee Wellness Programs
Madison National Life is dedicated to the health and well-being of our employees. As such, Madison National Life offers its employees various wellness programs to help them to lead healthy lifestyles. These include: Wellness Lunch & Learns, Wellness Committee membership opportunities, Wellness events & contests, on-site work-out facility, on-site flu shots, and on-site Health Risk Assessments.