2019 U.S. Benefits Guide

The benefits in this guide apply to the following employees:

  • U.S. National Residents
  • U.S. National Commuters
  • U.S. Expatriate Commuters
  • U.S. Expatriate Resident Commuters
  • U.S. Residents with a U.S. Home Address

Please note: Full details of the benefit plans are included in the Summary Plan Descriptions (SPDs) of the plans in the benefits section of Rig Central. Read full Disclaimer 

The benefits in this guide apply to the following employees:

  • U.S. National Residents
  • U.S. National Commuters
  • U.S. Expatriate Commuters
  • U.S. Expatriate Resident Commuters
  • U.S. Residents with a U.S. Home Address

At Transocean, we are proud to have the most committed, passionate and capable team in our industry. Your Transocean benefits help you and your family unlock your potential in so many ways. They give you the ability to stay healthy, protect your income if you become disabled, help you prepare for retirement, and much more.

This Benefits Guide was designed to help you learn about your options. Take a few minutes to walk through your choices before you enroll. That way, you can make the most of Transocean's benefits package.

Your benefits are just one way Transocean rewards your hard work, dedication, and commitment. Thank you for your ongoing dedication to Transocean.

Getting Started

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It is very important to review this Guide and follow the enrollment instructions carefully. You will only be eligible to enroll again for health and welfare benefits when first eligible, during the Benefits Annual Enrollment period, or if you experience a qualifying family status change.

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Enrollment Periods

Annually you will be given an opportunity to review your coverage. There are also different times you may change coverage throughout the year: as a new hire, as a transferred employee, or if you experience a qualifying family status change. Each period has different deadlines and rules. Please take time to review the type of enrollment period that most applies to you.

Annual Enrollment 

New Hire Enrollment 

Transferring Employee Enrollment 

Qualifying Family Status Change

You must notify the Transocean Benefits Center within 60 days of a qualifying status change. Documentation of change will be required when adding dependent (i.e. birth certificate, marriage document, etc.)

Click here for help in notifying Transocean of a qualifying status change.

How to Enroll

Enrolling for your benefits is easy. There are two ways to enroll:
online and over the telephone.

To enroll online, visit YourTransoceanBenefits.com

To enroll by phone, call:
1 855 RIG 5005 (U.S. callers)
+1 646 259 0401 (Outside the U.S.)

A note about payroll deductions 

You can also access the enrollment site via single sign-on from Workday by selecting the Benefits Worklet and clicking “Login to My Benefits Account”.

To enroll in your 401(k) plan, you will need to visit Fidelity's website, NetBenefits.com and create your account.

If you enroll in an HSA medical plan, you will need to open your HSA account on Fidelity's NetBenefits.com as well. Please wait one week after completing your medical plan enrollment to open your Fidelity account.

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Who is Eligible

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For Medical, Dental, Vision, Voluntary Life Insurance, and Voluntary Accidental Death & Dismemberment (AD&D) coverage, you can cover:

  • Yourself
  • Your legal spouse
  • Your children

3

Adding Dependents to Coverage

If you are adding a dependent to your coverage for the first time you must do it within 60 days of your dependent becoming eligible for coverage. Thereafter, you may only add or remove dependents when you experience a qualified event such as birth, marriage or divorce or during the annual enrollment period.

Transocean will verify eligibility for all dependents added to coverage. You will be required to provide documentation showing proof of relationship for any dependent added to coverage to ensure they meet eligibility requirements. Learn More

Transocean allows coverage for your spouse and dependent children, including:

  • Biological children
  • Stepchildren who reside with you
  • Children under legal guardianship and
  • Adopted children

Dependent children must be under age 26. Disabled children may be covered beyond age 26.

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Medical Plans

If you're looking for comprehensive coverage, flexibility, a nationwide provider network, and prescription drug coverage, you've come to the right place. You can choose from three Medical Plans — the PPO Plan and two Health Savings Account Plans. Each option is administered by UnitedHealthcare (UHC) with prescription drugs through Express Scripts.

Virtual Visits

When you don't feel well, or your child is sick, the last thing you want to do is leave the comfort of home to sit in the doctor's waiting room. Now, you don't have to.

Learn more about virtual visits 

Find a
Network Provider

No matter which plan you choose, you have access to the same network of providers from the UnitedHealthcare Choice Plus network. To find an in-network provider in your area, visit www.myuhc.com and click Find a Doctor. Then, select the Choice Plus Plan.

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HSA Plans

The HSA Plans are a great option for most employees. In these plans the premiums are lower and Transocean contributes cash to your Health Savings Account (HSA). You can also save pre-tax dollars in your HSA for the coming year or for years to come. Any money left in your HSA rolls over to the following year.

Turn the page to learn more.

PPO Plan

The PPO Plan is a traditional health plan. You pay copays for office visits, urgent care clinics, and prescription drugs. For other care, you meet a deductible and then pay coinsurance until you meet an out-of-pocket maximum.

The PPO Plan has an Out-of-Area coverage option for employees who live in remote ZIP codes outside the UHC Choice Plus provider network.

PPO Plan Details 

Family deductibles work differently in the PPO and HSA Plans.
Learn more about family deductibles 

Prescription Benefit

Prescription drug coverage is automatically included with your Transocean medical plan. Coverage is provided through Express Scripts.

Learn more 

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Health Savings Account

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HSA Plans Deserve a Closer Look!

You could be spending more than you need on medical coverage. Now is a great time to think about enrolling in the Health Savings Account (or HSA).

What is an HSA?

An HSA gives you more control over how you spend your healthcare dollars. Transocean makes an annual contribution to your Health Savings Account and so can you. Both your contribution and Transocean's contribution are pre-tax, and any unused dollars carry forward to the next year or can even be used for medical expenses in the future, including in retirement.

IRS Eligibility Requirements 

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Healthy

Protect and improve your health by getting good preventive care.
Read more 

Wealthy

See the top six reasons choosing an HSA Plan makes sense.
Read more 

Wise

Are you wise about healthcare? Did you know that high quality care isn't always the most expensive option?
Read more 

Know before you go

It's always a good idea to be a good shopper. Before seeing your doctor or scheduling a procedure you should compare costs to get the best care at the best price. Visit myuhc.com® and use myHealthcare Cost Estimator.

Or know on the go by downloading the UnitedHealthcare Health4Me™  app.

Learn More  

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Dental

Dental Plan

The Transocean Dental Plan is a great way to protect your smile. You can see any dentist you like, but the UnitedHealthcare (UHC) network dentists offer discounted rates.

Dental Plan Coverage 

Where to Go?

Access a list of UHC dental network providers by calling +1 877 816 3596 or online at www.myuhcdental.com.

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Vision

Vision Plan

The Transocean Vision Plan helps you keep your vision sharp. It's offered through VSP.

Vision Plan Coverage 

Do I get an ID card for dental and vision?

You'll get an ID card for dental after your initial enrollment has processed. Even if your spouse and children are covered on your dental plan, only your name will appear on the ID card. You will not get an ID card for the Vision Plan. When you visit the eye doctor, tell the office staff that you have VSP Vision. If you'd like to have a Vision ID Card, you can print one by logging on to www.vsp.com.

10

Flexible Spending Accounts

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Healthcare FSA

There are two different types of Healthcare Flexible Spending Account. If you choose a Health Savings Account Plan, you would use the Limited Purpose Healthcare FSA . If you choose the PPO, you would use the Healthcare FSA .

Dependent Care FSA

If you have dependents, you can pay for certain expenses with tax-free dollars. The Dependent Care FSA is not for healthcare costs. Put medical care dollars in your Healthcare FSA or Health Savings Account. Learn about the Dependent Care FSA .

When you enroll, you decide how much of your pay should be saved into one or both of the accounts. Transocean takes that amount out before any taxes are paid, thus reducing your taxable income and lowering your taxes.

11

Eligible Expenses Under FSAs

The Internal Revenue Service has strict rules about who qualifies as an eligible dependent and what care is eligible for reimbursement. For details, speak with your tax advisor. You can also visit the IRS website or call the IRS at +1 800 829 3676 to download/request IRS Publication 502 for healthcare expenses and/or IRS Publication 503 for dependent care expenses.

Submitting Claims

To receive reimbursement from your FSA, you'll need to submit a valid receipt for services received and a claim form to UHC. Log onto www.myuhc.com to review your FSA balance, monitor claim reimbursements and set up Electronic Funds Transfer (EFT), which will allow UHC to deposit your reimbursement into your bank account. If eligible, healthcare claims for in-network providers can be filed automatically. Claims may also be filed directly through www.myuhc.com.

Healthcare Claims

You can be reimbursed for healthcare received through 31 December of the current year. Your deadline to submit claims is 31 March of the following year.

Dependent Care Claims

You can be reimbursed for dependent care received through 31 December of the current year. Your deadline to submit claims is 31 March of the following year.

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Employee Assistance Program

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Everybody needs some extra help from time to time. That's why Transocean offers the Employee Assistance Program (EAP) and WorkLife Service benefit, available through UnitedHealthcare (UHC). Click here for more detail.

Transocean pays the entire cost. You get the help you need. What could be better?

  • 24 hour a day support
  • Completely confidential
  • Six no-cost visits with experienced counselors for you and each family member
  • Limited financial planning and legal services

You don't have to be enrolled in Transocean benefits to use the EAP. Help is available on the phone, online or face-to-face.

Call toll-free +1 866 248 4094

Log on to www.liveandworkwell.com (access code RIG)

Transocean pays the entire cost. You get the help you need. What could be better?

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Life Insurance

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Transocean offers life insurance coverage for you and your eligible dependents through Life Insurance Company of North America, a Cigna company. You are automatically enrolled for Basic Life Insurance coverage. You'll need to enroll for any Voluntary Life coverage you want to purchase for yourself and/or your dependents.

Electing coverage over $250,000  may require you to provide Evidence of Insurability.

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Basic Life Insurance

Basic Life Insurance provides coverage equal to two times your annual base salary rounded up to the next higher $1,000, up to $750,000.*

Transocean pays the full cost of this benefit and you are automatically enrolled for this coverage.

Voluntary Life Insurance

You can supplement your Company-paid Basic Life Insurance coverage through Voluntary Life Insurance. You can purchase coverage of one to five times your annual base salary, rounded up to the next higher $1,000, up to $750,000.*

Your combined Basic and Voluntary coverage may not exceed $1,250,000.


*The coverage limit will begin to reduce at age 65.

Dependent Life Insurance

If you buy Voluntary Life Insurance for yourself, you can buy Life Insurance for your family as well.

You can buy Voluntary Spouse Insurance of $10,000, $25,000, $50,000, $75,000 or $100,000. Your spouse's coverage cannot be more than 50% of your Voluntary Life Insurance.

You can buy Child Life Insurance of $5,000, $10,000, or $20,000. The coverage you select applies to all your eligible children.

16

Accidental Death and Dismemberment

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It isn't pleasant to consider, but everyone should be prepared for worst-case scenarios. Accidental Death and Dismemberment (AD&D) Insurance gives you one more way to protect your finances when you need them most.

Available through Cigna, AD&D pays a benefit if you lose your life or are injured in an accident. These benefits are paid in addition to Life Insurance benefits.

Transocean provides you with Company-paid Basic AD&D coverage. You can supplement this coverage with additional Voluntary AD&D or Family AD&D coverage.

17

Basic AD&D Insurance

Transocean pays 100% of your Basic AD&D Insurance benefit. Your benefit is equal to two times your annual base salary (up to $750,000).

The amount of your coverage reduces to 65% at age 65 and to 50% at age 70.

Voluntary AD&D Insurance

You can buy additional AD&D Insurance for you and your family. You can choose between one and five times your annual base salary.

Learn More 

Who is your beneficiary?

Make sure your loved ones are protected. Be sure to keep your beneficiary information up-to-date and accurate. You can do this as part of the online enrollment process.

18

Short-Term Disability (STD)

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If you need time off to recover from a non-work related illness or injury, Short-Term Disability (STD) replaces a portion of your base salary.

For Residents:

STD pays you 100% or 66 2/3% of your monthly base salary based on your years of service as of the date your disability begins. Benefits begin after a five-day elimination period and may continue for up to 26 weeks. Transocean pays the full cost of STD benefits and you are automatically eligible as of your hire date or transfer date. For more details, click here .

For Commuters:

STD pays you a percentage of your monthly base salary as follows:

  • 80% for the first six weeks
  • 66 2/3% for up to 20 additional weeks

Benefits begin after a seven-day elimination period. Transocean pays the full cost of STD benefits and you are automatically eligible after 180 days on the job.

19

Long-Term Disability (LTD)

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If you are unable to work for more than 26 weeks due to a non-work-related illness or injury, and you're approved by Cigna, you will receive 60% of your monthly base salary up to a maximum monthly benefit of $15,000 USD. LTD benefits continue for the length of your disability, but generally not beyond your 65th birthday.

Transocean pays the full cost of LTD and you are automatically enrolled on your hire date or transfer. Commuter status employees are eligible after 180 days on the job.

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U.S. Savings Plan

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The Transocean U.S. Savings Plan, or 401(k) plan, helps you save for retirement.

You can contribute a percentage of your eligible compensation to your account through:

  • Pre-Tax Contributions – Save 1% to 50% on a pre-tax basis (up to the IRS-defined annual limit).
  • Roth After-Tax Contributions – Save 1% to 50% on an after-tax basis to a Roth 401(k) account (up to the IRS-defined annual limit).
  • Catch-Up Contributions – If you are at least age 50, you can save an additional 1% to 25% of your eligible base pay on a pre-tax and/or Roth after-tax basis (up to the IRS-defined annual limit).

Transocean Match

Transocean matches 200% on up to 5% of eligible compensation you contribute to the Savings Plan.

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Vesting

The money you put into your 401(k) is always yours to keep. And, you are automatically vested in your Transocean match. There is no vesting period required. So, Transocean's contributions into your account belong to you immediately.

Savings Plan Loans

If you need to use your Savings Plan money before you retire, you may be able to borrow up to 50% of your balance, up to a maximum of $50,000. Certain restrictions apply.

You repay your loan with after-tax, automatic payroll deductions. You can have one general-purpose loan and one home loan outstanding at any time. Contact Fidelity Investments at +1 800 835 5098 to learn more about loans and explore your opportunities.

Savings Plan Enrollment

Taking advantage of the company match is a great way for you to save. When first eligible, if you don't take action, you will be automatically enrolled in the U.S. Savings Plan at 3%. Your contribution will automatically increase by 1% each year until you reach the maximum match of 5%. You can opt out of auto-enrollment and auto-increase at any time. This way you’re sure to take full advantage of the matching funds.

Visit Netbenefits.com at any time to:

  • Change or stop your contributions to the Plan
  • Change your investment options
  • Designate a new beneficiary

How To Contact Fidelity

Contact Fidelity Investments at +1 800 835 5098 or visit Netbenefits.com to explore your opportunities.

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Contact list

Transocean Benefits Center

Within the U.S.: +1 855 RIG 5005
Outside the U.S.: +1 646 259 0401
7 a.m. to 7 p.m. Central Standard Time

YourTransoceanBenefits.com

HIPAA NOTICE

To get details on Transocean's HIPAA Policy, go to YourTransoceanBenefits.com and login to your Benefits Account or call 855 RIG 5005.

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Providers

Medical: UnitedHealthcare

1 800 765 6731

http://www.myuhc.com
Health Savings Accounts (HSA): Fidelity

1 800 835 5098

http://www.Netbenefits.com
Dental: UnitedHealthcare

1 877 816 3596

http://www.myuhc.com
United Behavioral Health: Employee Assistance Program

1 866 248 4094

http://www.liveandworkwell.com
access code RIG
Flexible Spending Accounts: UnitedHealthcare

Within the U.S.: 1 800 331 0480

http://www.myuhc.com

Fidelity Investments: U.S. Savings Plan

1 800 835 5098

http://www.Netbenefits.com
Express Scripts: Prescription Drugs

1 866 408 3713

http://www.express-scripts.com
VSP: Vision Provider

1 800 877 7195

http://www.vsp.com
If you are nearing retirement, contact Via Benefits at:

Pre-65: 1+844-570-2792, or www.Marketplace.ViaBenefits.com/Transocean

65+: 1+844-570-2791, or www.my.ViaBenefits.com/Transocean

Transocean Pension Center: U.S. Retirement Plan-Frozen in 2014

Within the U.S.: +1 866 620 6911

Outside the U.S.: +1 650 351 8215

https://ypr.aon.com/transocean

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