This report analyzes and compares BIOMEDICAL INNOVATION's employee health insurance and employee benefits with its industry and in Massachusetts State.
Providing a smart employee benefits package is critical for attracting top talent and retaining valuable employees. Today, employee benefits play a vital role when candidates consider accepting a job offer.
Many companies offer today over-the-top perks, like yoga classes, haircuts, catered meals, and acupuncture. In this report, we focus however on traditional benefits. It's a work in progress that we will expand and update on a regular basis.
This report contains the following sections
Career benefits
BIOMEDICAL INNOVATION has superior career benefits that have a great impact on employees' career. There are several coaching and mentoring programs, as well as onboarding program for new employees to help them fit in the BIOMEDICAL INNOVATION. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: BIOMEDICAL INNOVATION believes that career planning of each employee is a key to a successful business and offers suitable opportunities so that the employees can reach their full potential. BIOMEDICAL INNOVATION has suitable resources at its disposal to achieve this goal.
- COACHING AND MENTORING: BIOMEDICAL INNOVATION offers superior coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: BIOMEDICAL INNOVATION encourages its team members to work on their existing skills and gain new ones continually. By providing great development resources, BIOMEDICAL INNOVATION supports their team members on their journey to perfection. Employees have a wide range of great resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: BIOMEDICAL INNOVATION has a suitable GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: BIOMEDICAL INNOVATION believes that providing its team members with outstanding leadership programs is a crucial step in creating new leaders. By using outstanding tools that BIOMEDICAL INNOVATION provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: BIOMEDICAL INNOVATION does not offer onboarding.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, BIOMEDICAL INNOVATION implemented a great Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: BIOMEDICAL INNOVATION realizes that continuous education is a key to success so it has an extraordinary Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | BIOMEDICAL INNOVATION | Industry | Massachusetts |
|---|---|---|---|
| Career planning Benefits | |||
| Coaching and mentoring Benefits | |||
| Development resources Benefits | |||
| GED reimbursement Benefits | |||
| Leadership programs Benefits | |||
| Onboarding Benefits | |||
| Recognition programs Benefits | |||
| Tuition reimbursement Benefits |
Healthcare benefits
BIOMEDICAL INNOVATION has solid health benefits that enable its team members to have various basic and complex procedures covered. Besides, it offers solid dental and vision plans where team members can rest count on covered preventive exams as well as some procedures. For bigger expenses. Employees have a solid healthcare spending account at their disposal.
- COUNSELING: BIOMEDICAL INNOVATION does not offer counseling.
- DENTAL PLAN: Team members at BIOMEDICAL INNOVATION have a superior dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. BIOMEDICAL INNOVATION partially pays for dentures and braces as well.
- HEALTH INSURANCE: BIOMEDICAL INNOVATION offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: BIOMEDICAL INNOVATION offers its team members top-notch health plan incentives. Team members are encouraged to take a proactive approach to their health and take care of their BMI, sugar and fat in their blood, and other biometrics. BIOMEDICAL INNOVATION provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: BIOMEDICAL INNOVATION offers an impressive healthcare spending account to its employees. Employees have an option to deposit a part of their salary into the account and use it for any medical or dental expenses not covered by their health plan. Employee's family members can use this funds as well.
- MATERNITY SUPPORT PROGRAM: Aware of the challenges that come with pregnancy, BIOMEDICAL INNOVATION has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: BIOMEDICAL INNOVATION does not offer telehealth.
- VISION PLAN: BIOMEDICAL INNOVATION offers a good Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | BIOMEDICAL INNOVATION | Industry | Massachusetts |
|---|---|---|---|
| Counseling Benefits | |||
| Dental Plan Benefits | |||
| Health Insurance Benefits | |||
| Health Plan Incentives Benefits | |||
| Healthcare Spending Accounts Benefits | |||
| Maternity support program Benefits | |||
| Telehealth Benefits | |||
| Vision Plan Benefits |
Financial benefits
BIOMEDICAL INNOVATION offers first-class financial benefits for employees and their family members. A first-class 401(k) plan makes sure that employees have a secure retirement, while a generous, fully paid parental leave allows expecting mothers and fathers to enjoy their child's first year. Along with paid vacations, employees can enjoy fully paid commuting as well.
- 401(K) PLAN: BIOMEDICAL INNOVATION has an outstanding 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, BIOMEDICAL INNOVATION offers an outstanding program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, BIOMEDICAL INNOVATION offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: BIOMEDICAL INNOVATION has a great Adoption Assistance Reimbursement program that pays certain fees associated with the adoption process. With this program, the employees can rest assure that at least some of the costs will be covered.
- BONUS PAY: BIOMEDICAL INNOVATION has an impressive bonus plan. It makes sure that hardworking team members are properly rewarded for their individual contribution to projects as well as their cooperation with other team members.
- CHILDCARE DISCOUNT: BIOMEDICAL INNOVATION does not offer childcare discount.
- COMMUTER BENEFIT: BIOMEDICAL INNOVATION offers impressive commuter benefits for its team members and enables them to pay for all sorts of transportation fees, regardless of their distance from the place of work and the costs involved.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: BIOMEDICAL INNOVATION has a good daycare spending account that fills from each paycheck before taxes. This allows team members to partially cover costs of daycare while they are at work.
- DISABILITY: BIOMEDICAL INNOVATION offers a first-class short-term disability coverage for its team members. Through disability program, part of the employee's salary is replaced by the coverage for a limited time. This enables team members to have a financial stability during the difficult period of their lives and helps them to get back on track.
- LIFE INSURANCE: BIOMEDICAL INNOVATION offers an impressive life insurance program. It is one of the best in the country and offers free life insurance for team members. The policy pays up to three years worth of salary to beneficiaries. This impressive life insurance package contains dependent policies as well.
- PAID TIME OFF: BIOMEDICAL INNOVATION has an impressive vacation program for its team members with a great deal of paid vacation days. Team members can spend those days at their own pace, any time of the year. Various national and personal holidays are taken into account as well.
- PAID VOLUNTEER TIME OFF: BIOMEDICAL INNOVATION believes that exceptional volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why BIOMEDICAL INNOVATION offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: BIOMEDICAL INNOVATION has a suitable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BIOMEDICAL INNOVATION | Industry | Massachusetts |
|---|---|---|---|
| 401(k) plan Benefits | |||
| Adoption assistance reimbursement Benefits | |||
| Bonus pay Benefits | |||
| Childcare discount Benefits | |||
| Commuter benefit Benefits | |||
| Daycare flexible spending account Benefits | |||
| Disability Benefits | |||
| Life insurance Benefits | |||
| Paid time off Benefits | |||
| Paid volunteer time off Benefits | |||
| Parental leave Benefits |
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