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Frequently Asked QuestionsOdyssey Information2019-06-17T13:48:00-06:00

LOOK THROUGH OUR FAQ FOR ANSWERS

We understand that each individual consultant is vital to Odyssey’s success which is why we offer some of the best compensation and benefit opportunities the industry has to offer. Here are some of our most frequently asked questions about Odyssey and consulting.

Questions About Benefits

After my contract employment ends, will I be able to continue my insurance coverage?

You can continue most group insurance coverage by electing COBRA coverage.

Can supplemental benefits be continued after my contract ends?

No

Do you have a healthcare savings spending account?

Yes, you can contribute up to an annual max of $3400.00 for single or $6750.00 for family pretax. You can change your contributions per paycheck by logging in to Paychex.

How do I enroll in benefits?

You may enroll using Paychex.

When is my insurance effective?

Insurance is effective the 1st day of the month that coincides with or follows 30 consecutive days of employment.

When must I submit my insurance elections?

In order for your benefits to start on time, you must submit your insurance elections no later than noon the day before your coverage begins. Elections are made in Paychex.

What is the group medical plan name and number?

We have two: Insurance Choice Plan AG2L (PPO) and Insurance HSA Choice Plan AGYA. Our group medical policy number is 902195.

What group insurance benefits do you offer?

Odyssey offers medical, dental, vision, basic life/ad&d, long term disability, short term disability, and voluntary life insurance for employee, spouse and child.

Who is eligible for insurance benefits?

All full-time W-2 employees who consistently work a minimum of 30 hours per week are eligible to enroll in the insurance benefits.

If my contract employment ends, when will my insurance end?

Your insurance will end the last day of the month in which your contract employment ends, with the exception of your supplemental insurance, which ends on your termination date.

What benefits may be continued under COBRA?

Medical, dental, and vision insurance coverage may be continued under COBRA.

When will I receive COBRA information notifying me of my healthcare continuation rights?

You will receive COBRA information via certified return-receipt no later than 30 days after your insurance ends.

What happens to my benefits between contracts?

Your benefits will continue until the last day of the month in which your contract employment ends. If your contract is extended or if you start a new contract in the same month in which your previous contract ended, your insurance will continue uninterrupted. If you do not start a new contract until after your insurance ends, you will be offered COBRA coverage.

What if I want to make changes to my existing benefits?

Because our group health plan is part of a cafeteria plan, there are only two occasions when you can elect to participate in our group health plan:

  • Change in status (marriage, divorce, birth, adoption, change in work status, spouse loses coverage, etc.)
  • Open enrollment (held throughout the month of April of each year for a May 1 effective coverage)
  • If you experience a change in status, you must notify HR at 972-767-6700 within 30 days of the event.

Do you have a 401(k) Plan?

Our 401(k) Plan is available to all full-time W-2 employees.

After my contract employment ends, will I have to close my 401(k) account?

Odyssey does not require participants to close out their accounts upon ending contract employment. You may therefore either (1) leave your 401(k) account active, or (2) close your account and transfer your monies to either an IRA, another qualified 401(k) plan or cash out.

Can I borrow against my 401(k)?

Yes.

When and how do I enroll in a 401(k)?

Employees can enroll after 30 days of employment using Paychex.

How often can I change my payroll deductions for 401(k)?

You can change payroll contribution percentages for the 401(k) at any time using Paychex.

What is the 401(k) plan name and number?

Odyssey Information Services Inc. 401k Plan – 197114

Does Odyssey offer matching?

Vested 50% after 1 year and vested 100% after 2 years of employment.  Odyssey will match 25 cents on the dollar up to 6% of salary.

Does Odyssey offer PTO?

Only full-time W-2 salaried employees are eligible for PTO. Vacation days are accrued at a rate of 7.33 hours per month for your first five years of employment with Odyssey. After you have worked as a salaried employee for over 5 years, you will accrue 10.66 hours per month. Sick time is accrued at a rate of 4 hours per month. An employee can only use time which has been accrued up to the current date of the request. Any holiday, vacation, or sick time which is taken, but has not been accrued, may be withheld from your paycheck, including your final paycheck, if terminated. Monthly accrual hours will be pro-rated based on your contract start and end date.

Hourly employees are not eligible for PTO accrual.

Questions About Payroll

I just started working for Odyssey Information Services and I have a previous child support garnishment. How do I go about getting this set up to come out of my paycheck?

You must provide the following contact information to your child support agency and they will send the paperwork to us (Odyssey Information Services, Inc., 5801 Tennyson Parkway Suite 200, Plano, TX 75024, Attention: Payroll) You will be responsible for payments on your own until you see the garnishment being withheld from your paycheck.

I have moved and need to update my mailing address. How do I do this?

Address changes should be made using Paychex.

What is the Social Security Limit for 2017?

The Social Security taxable wage limit for 2018 is $128,400 (in 2017 was $127,200.00). Medicare does not have a taxable wage limit, for employees, the 1.45% tax rate increases by .09% on all taxable wages over $200,000.00.  Please remember that cafeteria plan deductions are exempt from these limits, so you must subtract these deductions from your gross pay to arrive at your gross/taxable pay for Social Security.

I want to change my State/Federal tax exemptions. How do I do this?

Log on to the Paychex website; click the Human Resources tab; click the Compensation tab; click Tax Status. Fill out new tax status information and submit.

When are timesheets due?

No later than 3 calendar days after the pay-period has concluded.

When is payday?

Payday is twice a month, on the 15th and the last day of the month. If a payday falls on a weekend, we aim to have your paycheck arrive the Friday before. Please note deposit arrival is subject to individual bank processing.

Where do I submit my time sheet, expense reports and invoices?

  • Timesheets- submit online at http://connect.odysseyis.com/
  • Expenses- email approved expense reports and receipts to expenses@odysseyis.com/
  • Invoices- email invoices to invoices@odysseyis.com/

How often will I get paid?

Twice a month- on the 15th and last day of the month. There are a total of 24 paychecks a year.

What do I do if my manager is not available to sign my time sheet?

Submit your timesheet by the deadline. We track unapproved time sheets internally and will follow up with your manager if necessary.

I have contacted my bank, and they say my direct deposit is not there yet. What is happening?

Direct deposits show up to a bank as a “Deposit in Transit.” Each bank’s computer system is updated differently. Some banks will show deposits in transit, and some will not. If a payday has passed and your paycheck has not arrived, please contact our Payroll department at 972-767-6700.

How do cafeteria plan and 401(k) deductions affect my taxes?

Both cafeteria plan deductions and 401(k) deductions are taken pre-tax, however the taxes they affect may differ. 401(k) deductions are only exempt from federal and state withholding taxes. Cafeteria plan deductions are exempt from both federal and state withholding and from both Social Security and Medicare taxes.

I run my own Corporation. When is my money direct deposited into my account?

Corporate direct deposits are transmitted by Odyssey on Tuesday and will be in your account by the following Wednesday.

What if I see a discrepancy on my paycheck?

Please reach out to our Payroll Department, to assist.

odyssey

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Corporate Headquarters

5801 Tennyson Pkwy Suite 200
Plano, Texas 75024

(800) 982-4319

Houston Office

15377 Memorial Drive Suite 200
Houston, Texas 77079

(888) 886-6293

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