Premium Equalization Payment

Understanding that our medical, dental and vision programs may differ from what you are used to, we are providing a one-time payment to cover premium differences if Hologic’s premium is higher than that of the Gynesonics plan. This payment will be calculated based on contributions for the remainder of this plan year through June 30, 2025, and will be disbursed in April. The amount will depend on the specific plan and tier you were enrolled in under the Gynesonics plan as compared to Hologic’s PPO Plan, either Dental plan and the Vision plan. Please note that while this one-time payment is taxable, your new premium contributions starting March 1 will not be. You must still be employed to receive this payment.

Medical Transition Points

• Deductibles and out-of-pocket maximum (OOPM) limits will be based on the Hologic plan year of July – June. However, plan reimbursements (fitness, weight loss program) and visit limits, if any, apply on a calendar year basis.

• If you enroll in the PPO or PPO Plus Plan, you will receive a 100% in-network deductible credit, to the Hologic plan you choose to enroll in (excluding CDHP), for the remainder of the plan year ending June 30, 2025. Unfortunately, IRS regulations will not allow us to credit the CDHP as it is considered a high deductible health plan.

Prescription Transition Points

• If you are currently enrolled in the Gynesonics’ medical plan and have a current mail order prescription, you will need to fill a new prescription with CVS Caremark’s mail order program. It will take some time to process your new mail order prescription with CVS Caremark. Please plan accordingly and re-order prescriptions with your current medical/prescription plan prior to February 28, if necessary.
• You will need to provide your new ID card at retail pharmacies after March 1. A temporary ID card is provided for you and can be found on this site in the Plan Resource page.
• Specialty medications must be filled through the CVS Specialty Pharmacy. If you are currently taking a specialty medication, contact CVS Caremark for information about Transition of Care at 855.271.6598. Caremark partners with PrudentRx to provide you with significant cost savings for specialty medications. You will learn about how to take advantage of the PrudentRx program when you fill your first specialty medication. If you explicitly decline to enroll in this program, you may see higher out-of-pocket prescription costs.
• Certain medications may require prior authorization, step therapy or have quantity limits. If you are taking a drug that falls into this category, please plan accordingly and refill any prescriptions with your current prescription vendor prior to February 28 as you may experience a delay in filling with the new plan as new authorization will be required.

Vision Transition Points

• Although there is a lot of overlap between vision networks, those enrolled in the Gynesonics plan may need to transition to a new provider within the EyeMed network. Check with your provider prior to obtaining services.

Dental Transition Points

• Deductibles and out-of-pocket maximum limits will be based on our plan year of July through June.
• If you were enrolled in a Gynesonics’ dental plan and enroll in a Hologic dental plan, you will be given 100% in-network credit toward your deductible in the Hologic dental plan for the remainder of this plan year ending June 30, 2025.
• Orthodontia services are only covered with the Enhanced Plan. The Enhanced Plan features a lifetime orthodontia maximum of $2,500 per covered member and is available for both children and adults.  If you enroll in the Enhanced Plan and you are currently receiving orthodontic services, you will need to submit a claim form along with the original date of service and case information in order to continue payments under your new plan.
• If you choose to enroll in the Core Plan and you or a family member are currently receiving orthodontic services, your current orthodontic benefit will end when your Gynesonics’ coverage ends.

Healthcare Flexible Spending Account Transition Points

Dependent Care Flexible Spending Account Transition Points

There are no transition points for these benefits.

Life Insurance Transition Points

• Your basic life amounts will be provided at 2x base salary up to $500,000.
• Your beneficiary data will not carry over, therefore please assign a beneficiary when in Benefit Self Service during your Special Enrollment Period.

Disability Insurance Transition Points

• Your original date of hire with Gynesonics will be honored for waiting periods and pre-existing conditions as applicable to the short-term or long-term disability plans.
• The cost of the LTD premium is added to your taxable income so any LTD benefits you receive are tax-free.

Accident Insurance, Critical Illness, & Hospital Indemnity Insurance Transition Points

There are no transition points for this benefit

401(k) Transition Points

• Hologic provides a 401(k) Plan, administered through Fidelity Investments. Highlights of the plan include pre-tax, Roth and catch-up contributions, an employer match of 100% of the first 3% and 50% of the next 2% you contribute, 100% vested from day one, match true-ups, Roth conversions, rollovers and loans/withdrawals.
• You may register for the Hologic 401(k) plan at NetBenefits.com as early as March 7 to make your contribution election, investment selections and assign a beneficiary.
• If you enroll by 8pm ET on March 11, your first contribution and match will take effect in the March 21 paycheck.
• If you do not actively enroll in the 401(k) Plan, Hologic will automatically enroll you at a contribution rate of 5% of your pre-tax eligible earnings after 45 days from your date of eligibility and 1% annual increase each December. If you do not want to be auto-enrolled at 5% or enrolled in the annual increase program, you must elect another amount or 0% before your 45th day of eligibility.
• You may also start the rollover process should you wish to transfer your Gynesonics 401(k) plan balance to your new Hologic 401(k) plan. Your Gynesonics plan administrator will be mailing you a notice of the plan termination and your options for rolling your funds out of the plan. Please pay particular attention to that mailing as you will have to TAKE ACTION.

Paid Time Off Transition Points

The transition to these new policies will take effect February 23, 2025. (coinciding with the 1st day of the pay you’ll receive from Hologic’s payroll).

Vacation

• Hologic will be honoring your original date of hire for vacation accrual.
• There are two vacation policies based on your work location:
  • CA Policy: For California employees, Vacation time is capped at 1.5 times your annual accrual rate. If you reach this cap, you won’t earn more vacation until you use some.
  • Non-CA Policy: For employees outside California. There is no rolling cap, but you can only carry over up to three weeks of unused vacation to the next fiscal year, which ends on September 27, 2025.
• Excess Accrual Payout: If your current vacation balance exceeds the CA policy cap (regardless of which state you work in) as of February 22^nd, you’ll get a one-time payment for the excess in your final Gynesonics paycheck in late February. The rest of your balance will carry over to Hologic starting February 23, 2025.
  • CA Employees: If you are still at the Hologic CA Vacation accrual cap after the transition, you won’t accrue more vacation until you use some.
  • Non-CA Employees: Since there is no rolling accrual cap on the Hologic Non-CA Vacation Policy, if you were previously at the Gynesonics’ accrual cap, you will start to accrue vacation again at the time of transition but must follow the three-week rollover rule at the end of each fiscal year.

Sick Leave

• All Gynesonics employees will receive 40 hours of Sick time in their bank on February 23. You may carry over up to 3 days of unused sick time each fiscal year (ends last Saturday of Sept.).

Volunteer Time Off

• All Gynesonics employees will receive 1 day, up to 8 hours of Volunteer time on February 23.

Holidays

• You will receive 1 floating holiday in your Floating Holiday bank on February 23. Refer to the Holiday Policy for rollover rules applicable in some states.
• The holiday schedules for Gynesonics and Hologic are different. Beginning February 23, refer to the Hologic holiday schedule for important changes, as the Gynesonics schedule will no longer be applicable.

Refer to the PTO Policies menu item on this site, under Plan Resources, Policies, Tools & Guides, above for rollover rules applicable in some states.