Penmac Staffing is proud to offer industry-leading benefit options to our associates (that's our term for employees!), such as an affordable health insurance option starting with your second paycheck. As America's largest 100% employee-owned staffing company, we are able to offer our long-term associates a unique opportunity to build wealth for retirement at no cost!
At Penmac, we understand that healthcare must be easily accessible and affordable for individuals. With increasing requirements on coverage, we work hard to ensure Penmac associates have healthcare coverage options that comply with Affordable Care Act (ACA) requirements. Penmac has partnered with Hooray Health to offer Medical plans, along with Dental, Vision, Short-Term Disability, and Life!
All Penmac employees (regardless of full-time status) will be automatically enrolled in the Hooray Health Advantage Basic coverage after their first paycheck. Coverage will begin on the Monday following your second paycheck. You will have 30 days from the date of your first paycheck to opt out of coverage and/or make changes to your coverage including enrolling in the Minimum Value Plan which offers preventive, physician, and diagnostic services, hospital and facility services, pregnancy benefits and more.
To make changes, add coverage or opt out entirely, please visit the Penmac Hooray Health Portal or call 855-479-4008.
You may also be eligible for subsidies through the healthcare exchange. Click here to find the healthcare exchange for your state.
Quick answers to frequently asked questions about Hooray Health products and services:
According to the National Center for Employee Ownership, Penmac Staffing is the largest employee-owned staffing company. What does this mean to you? For long-term Penmac associates, you may be eligible to participate in Penmac’s Employee Stock Ownership Plan (ESOP). Qualified employees have ownership in company stock, meaning you have a meaningful stake in the company. This could provide significant financial benefits when you reach retirement age. When Penmac succeeds, you benefit.
More information about the ESOP, including eligibility requirements is included in the ESOP 101 document. Click to download:
Penmac ESOP participants may access their account information online at ESOP Connection.
More information about the ESOP, including eligibility requirements is included in the following documents. Click to download:
The Penmac 401(k) Retirement Savings Plan allows you to save for retirement through tax-deferred payroll deductions. The Wall Street Journal says, “A 401(k) is a retirement savings plan sponsored by an employer. It lets workers save and invest a piece of their paycheck before taxes are taken out. Taxes aren’t paid until the money is withdrawn from the account.” With over 20 investment options, the Penmac 401(k) plan covers the full range of investment styles.
Plan entry dates are January 1 and July 1 of each year. You can participate in the 401(k) if you have completed 1 year of service with Penmac Staffing.
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If you've reviewed all the information above, yet still have a question, please complete this form. A member of the Penmac Benefits team will reach out soon!
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