Raytheon offers a variety of medical plan options, from those where you pay a set copayment or coinsurance for services, to those that give you more flexibility in how and when you pay for healthcare. All plans cover in-network preventive care, generally at 100%.
Employees on International Assignment are eligible for the Global Choice medical plan, which provides worldwide coverage for all expatriate employees and their eligible dependents. What differs among the available plans are two features:
- How you access care - that is, which doctors and hospitals are available to you
- How much you pay for your care
Prescription drugs, doctor's visits, hospitalization, surgery and mental health care are also covered by all of the plans; however, depending on the plan you choose and if you choose to receive in- or out-of-network services, you will either have a copayment or coinsurance for these services, or you will need to first meet a deductible before receiving benefits.
Under the dental program, you have the choice of up to three dental options:
Low Option – basic needs such as annual check ups and cleanings
High Option – more extensive treatment including orthodontia
Dental Maintenance Organization (DMO) – also offers more extensive treatment including orthodontia, if a network is available where you live
All allow you to select the coverage level that makes sense for the kind of dental expenses you and your family members expect to incur.
Prescription Drug Coverage
Prescription drug coverage for most Raytheon medical plans is administered as a separate program by CVS Caremark.
You automatically receive coverage for prescription drugs when you enroll in any Raytheon medical plan. There is no additional cost to you for this coverage. You cannot elect prescription drug coverage separately from medical coverage.
Your out-of-pocket cost for prescription drugs varies based on your medical plan; if you need a short-term or long-term prescription; and, in most cases, whether your prescription is for a generic equivalent, preferred brand or non-preferred brand drug. In all cases, your out-of-pocket costs are lower when you use a CVS Caremark network pharmacy.
Vision Care Coverage
If you enroll in a Raytheon-sponsored medical plan, you automatically receive the Basic Vision Plan at the same coverage level you chose for medical coverage. The cost for vision coverage depends on the plan you elect and your coverage level.
If you need a higher level of vision coverage, you may instead select the Vision Plus Plan. If the coverage level you choose is different from your medical plan coverage level, only the dependents you designate will have vision coverage.
If you waive medical coverage, you may enroll in either vision plan at whatever coverage level you choose. (In this case, you pay 100% of the cost for your vision coverage, regardless of the plan.)
Health Care Reimbursement Account
A Health Care Reimbursement Account helps you pay for eligible health care expenses such as deductibles, copayments, and services that your or your spouse's medical, dental, and vision care plans do not cover or cover only in part. Through payroll deductions, you may set aside on a pre-tax basis up to $2,500 per year in such an account.