Benefits
As a regular, permanent Databricks employee located in Australia, you are eligible to participate in the following group benefit programs as of your hire date.
Private Medical Insurance
You are eligible to participate in the voluntary group medical insurance coverage with GU Health depending on your residency status:
- Residents: Superior Gold Hospital (AU$250 single/AU$500 family excess) with Corporate Health 80 Benefits extras cover
- Non-Residents: Optimum Silver Plus Hospital with Medical Plan (AU$250 single/AU$500 family excess) with Corporate Health 80 Benefits extras cover
Databricks pays 100% of the premium costs for you and your eligible dependents based on the Rebate Tier declared by you to GU Health. Employees are responsible for any Lifetime Health Cover (LHC) loading that may apply.
You may elect coverage for yourself and any eligible dependents at any time. Eligible dependents include spouse/domestic partner and/or children (up to age 25 if living at home and attending university). If you enroll as a new hire, your coverage will be retroactive to your hire date.
Group Life & Total Permanent Disability (TPD)
Upon joining Databricks, you are automatically enrolled into the group life and TPD benefit with MetLife. This policy covers 3x your annual base salary and provides protection in the event of death or total and permanent disablement. You are covered up to the Automatic Acceptance Limit (AAL) of AU$750,000. Should you wish to apply for cover above the AAL, you will need to complete a separate medical underwriting application.
Databricks pays 100% of the premium costs for these coverages.
Income Protection
Employees under the age of 65 are automatically enrolled into the income protection benefit with MetLife. This policy covers 75% of your annual base salary and provides protection in the case of any sickness or injury that prevents you from working after an initial waiting period of 60 days. You are covered up to the AAL (Automatic Acceptance Limit) of AU$11,000/monthly. Should you wish to apply for cover above the AAL, you will need to complete a separate medical underwriting application.
Databricks pays 100% of the premium costs for these coverages.
What happens when I leave Databricks?
Cover ceases as of your termination date from Databricks. Should you wish to continue being insured at your own cost, reach out to the Honan Team to discuss information and pricing. If you do not request continuation of cover within 60 days of your employment ending, you may be required to undergo further medical underwriting.
MetLife 360Health Virtual Care
As part of your MetLife risk insurance plans, you and your dependents have access to Metlife 360Health Virtual Care. This service provides confidential access to leading world specialists, general practitioners (GP)/doctors and mental health clinicians to make sure you have confidence and clarity on any medical concern.
You can register for 360Health Virtual Care via the website or app (Google Play or Apple Store) using the service code C32. Alternatively, you can phone the team on 1800 325 578.
How is the fringe benefit amount that Databricks pays calculated?
The fringe benefit is made up of the following benefits:
- Home Office Allowance
- Gym Reimbursement
- Health Insurance
- Group Life Insurance
- Total Permanent Disability Insurance
The total of these amounts are then "Grossed Up" using a Fringe Benefit Tax Rate of 1.8868.
If you would like to receive your individual calculation, please raise a case with PeopleOps.
An example of this calculation is as follows:
$10,000 (Total of the employee's perk amounts and benefit premiums) x 1.8868 (Fringe Benefit Tax rate) = $18,868 (Fringe benefit total)
The total of these amounts are then "Grossed Up" using a Fringe Benefit Tax Rate of 1.8868. An example of this calculation is as follows:
$10,000 (Total of the employee's perk amounts and benefit premiums) x 1.8868 (Fringe Benefit Tax rate) = $18,868 (Fringe benefit total)
Resources
For more details on plan coverages, please review each benefit page or the documents below.
Questions?
Please contact our broker, Honan by email (Travis.bailey@honan.com.au) or (Alexis.colombres@honan.com.au) or phone 0421 954 480 / 0434 039 515.
