Stryker Corporation · NYSE:SYK
Stryker — Investor Presentation (2020)
64 slides from Stryker's investor presentation, Sep 26, 2020
Slide 1: Benefits overview 2020
Benefits overview 2020 The benefits outlined in this document are summaries only and are subject to the actual provisions of the respective plan documents in effect covering such benefits. Stryker reserves the right to alter, modify, amend, or terminate these benefits within the law, in a manner in
Slide 2: Your benefits
Your benefits • Health • Money • Work/Life • Medical and • Life insurance • Employee Assistance prescription drug Program (EAP) • Short- and long-term • Dental disability • Adoption Assistance • Vision Plan • 401(k) Savings and • Supplemental health Retirement Plan • Time away from work benefits • E
Slide 3: Healthcare benefits eligibility
Healthcare benefits eligibility • Full-time and part-time employees who are regularly scheduled to work at least 20 hours a week are eligible for healthcare benefits. • If you work more than 20 hours but less than 40 hours, you are considered part-time. Note: Interns and direct temporary employees s
Slide 4: Healthcare benefits eligibility
Healthcare benefits eligibility • Benefit elections must be made within 30 days of your date of hire in order to enroll on a pre-tax basis. • Your elections will be retroactive to your date of hire as long as you enroll by the appropriate deadline. • Elections will remain in effect until December 31
Slide 5: Healthcare benefits dependent eligibility
Healthcare benefits dependent eligibility • Eligible dependents include but are not limited to your spouse, child and declared domestic partner. • Proper documentation is needed for all eligible dependents that you would like to cover on the medical, dental or vision plan (e.g., a birth certificate
Slide 6: Medical plan options
stryker Medical plan options
Slide 7: UnitedHealthcare (UHC) plans
UnitedHealthcare (UHC) plans UHC Choice UHC Value UHC Premium UHC Basic Coverage PPO Plan PPO Plan HSA Plan HSA Plan Comprehensive ✔ ✔ ✔ ✔ medical coverage Broad provider ✔ ✔ ✔ ✔ network Fully covered ✔ ✔ ✔ ✔ preventive care Lower in-network ✔ ✔ ✔ ✔ costs Tax-advantaged ✔ ✔ HSA HSA contribution ✔ ✔
Slide 8: How it works – UHC plans
How it works – UHC plans 1. You pay a contribution from your paycheck for coverage. 2. You pay nothing for in-network preventive care — it’s covered in full. 3. When you need care: Copay Deductible Coinsurance Out-of-pocket Plan ahead with A fixed charge The amount you The cost-sharing maximum your
Slide 9: UHC plans: employee only coverage
UHC plans: employee only coverage Plan feature UHC Choice UHC Value UHC Premium UHC Basic (in-network) PPO Plan PPO Plan HSA Plan HSA Plan Monthly full-time employee $148 $130 $111 $60 contributions* Deductible $350 $750 $1,500 $2,500 Out-of-pocket $2,950 $4,250 $5,000 $6,450 maximum Copay PCP $25 $
Slide 10: UHC plans: employee + 1 coverage
UHC plans: employee + 1 coverage Plan feature UHC Choice UHC Value UHC Premium UHC Basic (in-network) PPO Plan PPO Plan HSA Plan HSA Plan Monthly full-time employee $290 $251 $209 $80 contributions* Deductible $700 $1,500 $3,000 $5,000 Out-of-pocket $5,900 $8,500 $10,000 $12,900 maximum Copay PCP $2
Slide 11: UHC plans: family coverage
UHC plans: family coverage Plan feature UHC Choice UHC Value UHC Premium UHC Basic (in-network) PPO Plan PPO Plan HSA Plan HSA Plan Monthly full-time employee $454 $396 $333 $110 contributions Deductible $1,050 $2,250 $3,000 $5,000 Out-of-pocket $6,250 $9,250 $10,000 $12,900 maximum Copay PCP $25 $2
Slide 12: Learn more about the UHC plans
Learn more about the UHC plans UHC Choice UHC Value UHC Premium UHC Basic Prescription drugPPO Plan feature coverage Plan PPO Plan HSA Plan HSA Plan Rx retail/mail Tier 1 $10/$25 $10/$25 Deductible, then Deductible, then Tier 2 $25/$62.50 $25/$62.50 20% 30% Tier 3 $50/$125 $50/$125 Preventive medica
Slide 13: Kaiser HMO (California)
Kaiser HMO (California) • Medical • Prescription drug • In-network medical coverage only, • Prescription plan (drug formulary except for urgent and emergency is required) care covered worldwide. • Retail copays: • You will need to see your primary • $10 generic/$30 brand name up care physician to ob
Slide 14: Kaiser HMO (California) contributions
Kaiser HMO (California) contributions Monthly contributions for full-time employees* Kaiser Permanente of Kaiser Permanente of Coverage Northern California Southern California Employee only $150 $133 Employee + spouse/ declared domestic partner $276 $234 or Employee + child Employee + children or $4
Slide 15: Location-specific medical plans
Location-specific medical plans • Hawaii Medical Service Association (HMSA) • Available only to employees who reside in the state of Hawaii • Blue Cross Blue Shield of Alabama (BCBSAL) • Available only to employees who reside in the state of Alabama • Employees in Alabama may also select a UHC plan
Slide 16: Supplemental health benefits
Supplemental health benefits
Slide 17: Supplemental health benefits
Supplemental health benefits • Offer additional financial support to supplement your primary medical plan coverage in case of a serious illness or injury • Consider pairing a supplemental health policy with a higher deductible medical plan for extra financial protection Learn more at totalrewards.st
Slide 18: Critical illness insurance
Critical illness insurance • Pays a lump-sum benefit of up to $15,000 for out-of-pocket expenses • Examples of covered illnesses include heart attack, stroke, bypass surgery, end stage renal failure or advanced Alzheimer’s • Includes a $50 benefit annually per insured person if you get a covered scr
Slide 19: Accident insurance
Accident insurance • Pays a lump-sum cash benefit that may be used to help cover out-of-pocket costs if you are injured in an accident • Covers a variety of injuries: • Fracture and dislocation • Hospital confinement • Emergency room services • And more Learn more at totalrewards.stryker.com This is
Slide 20: Hospital indemnity insurance
Hospital indemnity insurance • Pays a lump-sum of $100 each day you spend in the hospital • Pays a maximum of one payment per calendar year per insured person of a $1,500 benefit if you or a covered dependent are confined to a hospital for a minimum of 24 hours from the time of admission • Money can
Slide 21: Health Savings Account (HSA)
Health Savings Account (HSA)
Slide 22: HSA overview
HSA overview …is a personal …allows you to bank account that roll over funds, you own year after year The HSA has a triple-tax advantage: The HSA… • Tax-free contributions • Tax-free withdrawals • Tax-free interest …offers the …receives a opportunity to contribution from invest and make Stryker in 2
Slide 23: HSA overview: eligible expenses
HSA overview Eligible expenses • Eligible expenses include: your annual deductible, coinsurance, prescription drugs and more. • You can use your HSA for eligible expenses for your spouse, tax dependent or qualifying child/relative. • For a full list of eligible expenses, visit irs.gov and find Publi
Slide 24: HSA overview: it adds up
HSA overview It adds up! Let’s assume you enroll in the UHC Basic HSA with family coverage and contribute up to the IRS maximum of $7,100: • Receive a $500 HSA contribution from Stryker • Save $3,400 on your paycheck contributions (compared to the UHC Value PPO) • Reduce your taxable income and save
Slide 25: HSA eligibility
HSA eligibility You are eligible to open an HSA if you… Are enrolled in a UHC HSA medical plan ✔ Have no other health coverage (except what is permitted ✔ by the IRS) Are not enrolled in Medicare, TRICARE or TRICARE for life ✔ Are not claimed as a dependent on someone else’s tax return ✔ Are not cov
Slide 26: HSA contributions
HSA contributions Stryker’s contributions IRS contribution limits for 2020 to your account Premium HSA Plan: Individual: $3,550 • Employee only $500 Family: $7,100 • Other tiers $1,000 Age 55 and up catch-up contribution: $1,000 Basic HSA Plan: • Employee only $250 Note: Includes both your and Stryk
Slide 27: Flexible spending accounts (FSAs)
Flexible spending accounts (FSAs)
Slide 28: Flexible spending accounts overview
Flexible spending accounts overview • Healthcare FSA: Annual …helps you budget contribution must be between for out-of-pocket …allows you to health and save money on $100 and $2,700. dependent care taxes. expenses. • Daycare FSA: Annual contribution must be between $100 and $5,000. The FSA… • If you
Slide 29: Tobacco Use Affidavit and Breathe Easy program
Tobacco Use Affidavit and Breathe Easy program
Slide 30: Tobacco Use Affidavit and Breathe Easy program
Tobacco Use Affidavit and Breathe Easy program • If you select Stryker’s medical coverage, you must complete the Tobacco Use Affidavit on the benefits enrollment site. • By certifying that you and your covered spouse/declared domestic partner have not used tobacco within the last six months, or have
Slide 31: Dental plan
stryker Dental plan
Slide 32: Delta Dental of Michigan
Delta Dental of Michigan • In-network and out-of-network benefits. • Eligible for two cleanings per calendar year. • Preventive services covered at 100%. • Claims should be submitted to Delta Dental of Michigan. • Deductible (per calendar year): o $50 per person o $100 per 2-person o $150 per family
Slide 33: Delta Dental of Michigan
Delta Dental of Michigan Monthly contributions for full-time employees* Coverage Delta Dental of Michigan Employee only $20 Employee + spouse/ declared domestic partner $40 or Employee + child Employee + children or $60 Employee + family *Contributions for part-time employees may be found on the ben
Slide 34: Vision plan
stryker Vision plan
Slide 35: EyeMed vision care
EyeMed vision care • Includes both in-network and out-of-network options. • In-network coverage is significantly more cost-effective. • Copays/allowances: • $0 copay for eye exam • $25 copay for standard plastic lenses or $130 allowance for contact lenses • $150 allowance for frames • You can get yo
Slide 36: EyeMed vision care
EyeMed vision care Monthly contributions for full-time employees* Coverage EyeMed Employee only $5 Employee + spouse/ declared domestic partner $10 or Employee + child Employee + children or $15 Employee + family *Contributions for part-time employees may be found on the benefits enrollment site. 36
Slide 37: Strive wellbeing program
stryker Strive wellbeing program
Slide 38: Strive: Register. Earn points. Get rewards!
Strive: Register. Earn points. Get rewards! • Employees, spouses and declared domestic partners are eligible. • Strive offers you the opportunity to: • Join activities and challenges throughout the year, and earn rewards for your participation. • Participate in mindfulness sessions through Whil. • A
Slide 39: Strive incentives 2020
Aim 1,000 points Aspire 2,000 points t Accelerate 3,000 points Ascend 4,000 points Achieve 5,000 points Bonus! 7,000 points ~) +250 Strive points Choose your reward $100 Amazon gift card $150 cash $200 Tango gift card $300 cash A ™% mh Mm 7 Induction into the wellbeing hall of fame + Corkcicle Cante
Slide 40: Life and disability plans
stryker Life and disability plans
Slide 41: Life insurance
Life insurance • Automatically provided to eligible employees at no Basic life and cost to you. AD&D (employee) • Equal to 1x your annual benefit salary (maximum of $425,000) for both life and AD&D insurance. Supplemental • Coverage can be purchased by full-time employees in life increments of 1x to
Slide 42: Short- and long-term disability
Short- and long-term disability • Provided by Stryker at no cost to you. • Employees are eligible for up to 180 days of benefits. Short-term • Full-time employees and part-time employees working disability at least 20 hours per week are eligible. • Approved through The Hartford, and coordinated with
Slide 43: 401(k) savings and retirement plan
401(k) savings and retirement plan
Slide 44: 401(k) overview
401(k) overview You are immediately eligible and will be automatically enrolled in the 401(k) plan. Your 401(k) comes with automatic Any elections that you deferral – a way for make will override you to improve the the auto feature. way you save Automatic deferral Your automatic deferral rate will b
Slide 45: 401(k) overview
401(k) overview • In 2020, the IRS limit on The match is credited employee 401(k) contributions Stryker matches 50% to your account the of the first 8% of pay is $19,500. first quarter of the saved, up to IRS limits. following year. • If you are age 50 or older, you can request and complete a catch-
Slide 46: 401(k) overview
401(k) overview • Over the last 20+ years, Stryker has provided an additional 7% discretionary contribution to non-sales representative employees. This discretionary contribution is not guaranteed and is contingent upon Stryker meeting its financial goals. • To be eligible to receive Stryker’s match
Slide 47: Employee Stock Purchase Plan (ESPP)
Employee Stock Purchase Plan (ESPP)
Slide 48: Employee Stock Purchase Plan (ESPP)
Employee Stock Purchase Plan (ESPP) • You may purchase shares of Stryker’s stock through regular payroll deductions. Shares are discounted 5% from their fair market value on the last trading day of each month. • Enrollment period is the 1st through the 15th of each month, and elections take effect i
Slide 49: Tuition reimbursement plan
stryker Tuition reimbursement plan
Slide 50: Tuition reimbursement plan
Tuition reimbursement plan • Full-time employees are eligible after 12 months of continuous employment. Newly hired employees currently enrolled in an eligible program may have the 12-month requirement waived. • Courses must be completed on your time and outside the normal workday, applicable to you
Slide 51: Employee Assistance Program (EAP)
Employee Assistance Program (EAP)
Slide 52: Employee Assistance Program (EAP)
Employee Assistance Program (EAP) • The EAP is: • Free to you and your family members. • Strictly confidential. • Available to help deal with many kinds of issues (e.g., buying a house, financial questions, stress or family issues). • Free limited counseling services are also available. • lifeworks.
Slide 53: Additional benefits
stryker Additional benefits
Slide 54: Additional benefits
Additional benefits • Adoption assistance plan: Adoption assistance • Reimbursement for necessary fees and expenses related to the legal adoption of an eligible child up to $5,000. • Plan pays benefits for two adoptions per employee per lifetime. • Leave of absence: • Stryker offers leaves of absenc
Slide 55: Additional benefits
Additional benefits • Cigna Medical Benefits Abroad: Adoption assistance • If you are traveling internationally on business for six months or less, you may also be eligible for medical benefits through Cigna. • Eligible family members traveling with a covered employee are also covered under this pla
Slide 56: Tools and resources
stryker Tools and resources
Slide 57: Workday
Workday • An online system that allows you to: • Update personal information, including your address, phone number and emergency contacts. • View pay statements and details. • View basic employee information (e.g., assignment, manager, pay). • Update banking details (direct deposit) and Federal W-4.
Slide 58: Benefits enrollment site: enroll.stryker.com
Benefits enrollment site: enroll.stryker.com • Visit enroll.stryker.com to: • Enroll in your benefits, including your health plan, HSA or FSAs, supplemental health benefits, and life insurance plans. • View and update benefits information. • Add dependent information. • Add life insurance beneficiar
Slide 59: totalrewards.stryker.com
totalrewards.stryker.com • totalrewards.stryker.com is your one-stop benefits resource. • Available from your computer or mobile device, at home or at work (no VPN required). • Find tools, plan information and more for each of your benefits. • Connect to web sites and tools in just one click. • Chec
Slide 60: Medical Expense Estimator
Medical Expense Estimator Before you enroll – estimate! • The Medical Expense Estimator allows you to: • Compare medical plans side-by-side. • Estimate how much you should contribute to an HSA or FSA to maximize your tax savings. • Make the best choices for you and your family. • You can access the
Slide 61: Get started
Get started You can get started using the checklist on totalrewards.stryker.com under Menu > New to Stryker. (summarized below). 1. Update your personal and payroll information via Workday. 2. Get to know your benefit options. 3. Enroll via enroll.stryker.com within 30 days of your date of hire. 4.
Slide 62: Get started
Get started When can I access…? Typically, on the Wednesday after your date of Benefits hire. You will receive an email once access has been enrollment site granted. Enrollment materials sent by Vanguard the week after 401(k) you start. You may also access the Vanguard web site at this time. Allow t
Slide 63: Questions
Questions Need more information? • Contact myHR at myhr.stryker.com or 877 795 2002. • Visit totalrewards.stryker.com. The benefits outlined in this document are summaries only and are subject to the actual provisions of the respective plan documents in effect covering such benefits. Stryker reserve
Slide 64: Thank you for your time today!
Visit Thank you for your totalrewards.stryker.com for more information time today! about your 2020 benefit choices.