Raytheon offers two HSA Advantage plans and makes a lump-sum contribution to your Health Savings Account (HSA), if eligible. Both plans cover in-network preventive care, generally at 100%. The plans also cover prescription drugs, doctor's visits, hospitalization, surgery and mental health care.
Employees on International Assignment are eligible for the Global Choice medical plan, which provides worldwide coverage for all expatriate employees and their eligible dependents.
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.
Vision Care Coverage
Raytheon offers two vision coverage options — the Basic Vision Plan and the Vision Plus Plan.
Both vision plans provide coverage for a wide range of vision care services, including routine examinations, lenses, frames and contact lenses. The plans differ in how often benefits are payable and the retail allowance for benefits.
The amount of your contribution toward the cost of your vision coverage depends on the vision plan you choose and your level of coverage. You pay your share with before-tax dollars through payroll deduction.
Flexible Spending Accounts (FSAs)
With Raytheon’s flexible spending accounts (FSAs), you can reduce your taxable income by paying for certain eligible expenses before taxes are withheld from your pay. Participation is optional.
- a limited purpose dental and vision FSA, which can be used by participants in an HSA Advantage plan who fund a health savings account (HSA), to pay for eligible expenses that their, or their spouse’s, dental and vision plans do not cover or cover only in part, such as deductibles, copayments and orthodontia
- a health care FSA, available only under certain circumstances
- A dependent care FSA, which you can use to pay for child or elder care expenses so you (and your spouse, if married) can work or attend school
The following pages provide a general overview of the health care, income protection, investment/retirement and work/life benefits as well as some of the valuable extras available to eligible Raytheon employees.