CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE

CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 Pension Plan is a Defined Benefit Plan. This plan depending on the CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 RETIREMENT Plan SPD guidelines can be paid out as a lump sum using the CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 Segment Rates. If CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 segment rates apply please visit this page for more information.

CONOCOPHILLIPS RETIREMENT PLAN is a Defined Benefit Plan. This plan type provides a monthly retirement benefit and in some cases a lump sum using the CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199. segement rates that is adjusted for early retirement using age penalties to CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 employees upon reaching a specific age. For more information call 918-661-6199 or watch these CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 Pension Videos. At the time of retirement, benefits from CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 are calculated using a formula based on CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 compensation information and CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 years of credited service. Upon reaching 'normal retirement age', benefits are paid to the contributor for the remainder of their lifetime. Benefits that are accumulated under this plan type are often referred to as 'accrued benefits'. In this plan type, the CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 Alternate Payee may be given a lump sum cash payment from the Plan. They also are able to receive a monthly benefit payable for either the lifetime of the Contributor (a 'shared payment') or the Alternate Payee (a 'separate interest') as an alternative to the CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 lump sum.

With this type of plan, the Alternate Payee is usually not awarded a lump sum cash payment from the Plan. Rather, the Alternate Payee's award is typically made in terms of a monthly benefit payable for either the lifetime of the Participant (a "shared payment") or the Alternate Payee (a "separate interest"). Since there are many alternative HOUSTON, texas 77079 pension formulas, we encourage you to call 210-351-3333 or mail your administrator at HOUSTON, texas 77079 HOUSTON texas.

Features of the CONOCOPHILLIPS COMPANY BENEFITS COMMITTEE PO BOX 4783 HOUSTON, texas 77210 918-661-6199 may include:

• You may have benefits accrued under this Plan maybe pay related
• You may have benefits accrued under this Plan maybe "flat dollar" (includes dollars per year of service)
• You may also have a "Cash Balance" or similar plan, meaning that the Plan has a "cash balance" formula for determining benefits. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a "single sum distribution amount" (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).

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CONOCOPHILLIPS_COMPANY Healthcare Basics

CONOCOPHILLIPS_COMPANY and Miscellaneous Employer-Sponsored Health Insurance

CONOCOPHILLIPS_COMPANY and employer-sponsored health insurance is a health policy selected and purchased by your employer or CONOCOPHILLIPS_COMPANY and offered to eligible employees and their dependents. These are also called group plans or CONOCOPHILLIPS_COMPANY group health insurance.  Depending on where you work your employer, if not CONOCOPHILLIPS_COMPANY, will typically share the cost of your premium with you.  If you work for CONOCOPHILLIPS_COMPANY you could reach out by calling the CONOCOPHILLIPS_COMPANY plan administrator at 918-661-6199 or inquiring via mail at CONOCOPHILLIPS_COMPANY 935 NORTH ELDRIDGE PARKWAY HOUSTON texas 918-661-6199.

Advantages of an employer plan:

        

• Your employer often splits the cost of premiums with you.

• Your employer does all of the work choosing the plan options.

• Premium contributions from your employer are not subject to federal taxes, and your contributions can be made pre-tax, which lowers your taxable income.   

Miscellaneous Employer and CONOCOPHILLIPS_COMPANY Health Insurance Plan Types and Definitions

It has been reported that just over 200 million Americans have health insurance coverage from commercial or private market health insurance.  Over the past 30 years, the financial and legal structure of such insurance has varied. No one "model" has dictated the market, although there are strong trends -- from the original "indemnity" or fee-for-service approach of 25 years ago, to HMOs (Health Maintenance Organizations) in the 1990's, to "Preferred Provider Organizations" (PPOs) in the past ten years. 

The specific terms and structures can be confusing to employers, CONOCOPHILLIPS_COMPANY enrollees, and even policymakers.  The summary definitions below were compiled and promulgated by the United States Department of Labor.  NCSL has added notations in selected cases, with source footnotes.

The Federal Health Reform Law:  The Affordable Care Act of 2010 (ACA) has numerous provisions that changed the structure and extent of health insurance coverage at CONOCOPHILLIPS_COMPANY and other employer sponsored plans 

The Act states that “the Secretary [of Health and Human Services] shall define the essential health benefits” for certain health plans. The Act further instructs the Secretary to ensure that the scope of the essential health benefits is equal to the scope of benefits provided under a typical employer plan.The Act requires the Secretary of Labor to conduct a survey of employer-sponsored coverage to determine the benefits typically covered by employers, and to report the results of the survey to the Secretary of Health and Human Services. To get details on how ACA affects CONOCOPHILLIPS_COMPANY reach out to the plan administrator at 918-661-6199 or mail them at CONOCOPHILLIPS_COMPANY 935 NORTH ELDRIDGE PARKWAY HOUSTON texas.

Basic Type of health Insurance at CONOCOPHILLIPS_COMPANY and other employers

Various companies and different type of plans. To get the details contact your company and if you work for CONOCOPHILLIPS_COMPANY,  read the Healthcare SPD call CONOCOPHILLIPS_COMPANY at  918-661-6199 or mail them at 935 NORTH ELDRIDGE PARKWAY HOUSTON texas 918-661-6199. Lets discuss the basics

Indemnity plan - A type of medical plan that reimburses the patient and/or provider as expenses are incurred.

Conventional indemnity plan - An indemnity that allows the participant the choice of any provider without effect on reimbursement. These plans reimburse the patient and/or provider as expenses are incurred.

Preferred provider organization (PPO) plan - An indemnity plan where coverage is provided to participants through a network of selected health care providers (such as hospitals and physicians). The enrollees may go outside the network, but would incur larger costs in the form of higher deductibles, higher coinsurance rates, or non-discounted charges from the providers.

Exclusive provider organization (EPO) plan - A more restrictive type of preferred provider organization plan under which employees must use providers from the specified network of physicians and hospitals to receive coverage; there is no coverage for care received from a non-network provider except in an emergency situation.

Health maintenance organization (HMO) - A health care system that assumes both the financial risks associated with providing comprehensive medical services (insurance and service risk) and the responsibility for health care delivery in a particular geographic area to HMO members, usually in return for a fixed, prepaid fee. Financial risk may be shared with the providers participating in the HMO.

Group Model HMO - An HMO that contracts with a single multi-specialty medical group to provide care to the HMO membership. The group practice may work exclusively with the HMO, or it may provide services to non-HMO patients as well. The HMO pays the medical group a negotiated, per capita rate, which the group distributes among its physicians, usually on a salaried basis. HMO's can be broken down into, Staff Model HMO, Network Model HMO , Individual Practice Association (IPA) HMO

Point-of-service (POS) plan - A POS plan is an "HMO/PPO" hybrid; sometimes referred to as an "open-ended" HMO when offered by an HMO. POS plans resemble HMOs for in-network services. Services received outside of the network are usually reimbursed in a manner similar to conventional indemnity plans (e.g., provider reimbursement based on a fee schedule or usual, customary and reasonable charges).

Physician-hospital organization (PHO) - Alliances between physicians and hospitals to help providers attain market share, improve bargaining power and reduce administrative costs. These entities sell their services to managed care organizations or directly to employers.

Medigap Supplemental Plans - Roughly 10 million Medicare beneficiaries purchase Medigap policies from private insurance companies, at a cost that ranges from approximately $1,000 to $5,000 per year, depending on the options available in the plan and the state of purchase. Studies have shown that Medigap policy holders use more medical services than those enrolled in traditional Medicare alone, primarily because the most popular Medigap plans provide "first-dollar" coverage. This means that Medigap actually pays the Medicare deductibles, copayments, and other expenses that beneficiaries are typically required to pay as a means of spreading the cost burden and reining in unnecessary use of services. [Medigap from Health Affairs, 9/11]