This report analyzes and compares CVS HEALTH's employee health insurance and employee benefits with its industry and in Rhode Island State.

COMPARE CVS HEALTH'S EMPLOYEE HEALTH INSURANCE AND BENEFITS

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

  1. Career Benefits
  2. Healthcare Benefits
  3. Financial Benefits

Career benefits

CVS HEALTH has first-class 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 CVS HEALTH. first-class tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.

  • CAREER PLANNING: CVS HEALTH believes that career planning of each employee is a key to a successful business and offers solid opportunities so that the employees can reach their full potential. CVS HEALTH has solid resources at its disposal to achieve this goal.
  • COACHING AND MENTORING: By using a solid coaching and mentoring program, CVS HEALTH can determine what should every team member focus on to grow and increase productivity.
  • DEVELOPMENT RESOURCES: CVS HEALTH offers superb development resources to enable its employees to grow on a personal and a professional plan. With access to superb intern programs and seminars, employees can learn new skills and stay at the top of their fields.
  • GED REIMBURSEMENT: CVS HEALTH has a first-class policy when it comes to GED reimbursement and participates with 1/2 of the costs.
  • LEADERSHIP PROGRAMS: CVS HEALTH offers a wide variety of top-notch courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by CVS HEALTH to grow as leaders and learn how to make tough calls.
  • ONBOARDING: CVS HEALTH does not offer onboarding.
  • RECOGNITION PROGRAMS: CVS HEALTH knows that dedicated team members are hard to come by so it has an impressive Recognition program for those who stand out and continually contribute to CVS HEALTH.
  • TUITION REIMBURSEMENT: CVS HEALTH has a good Tuition Reimbursement Program and participates with up to 25% of the costs for team members who want a job-related certificate or a degree.
CVS HEALTH's career benefits comparison table

Benefit

CVS HEALTH

Industry

Rhode Island

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

CVS HEALTH offers superb health benefits to its employees, of which some can be used by employee's family members. Besides an affordable healthcare insurance and a dental plan that includes recounstruction surgery, team members can enjoy CVS HEALTH's superb maternity support program, nutritional and psychological counseling, and health plan incentives.

  • COUNSELING: CVS HEALTH has an outstanding counseling program for its employees and their family members. Team members are encouraged by CVS HEALTH to talk freely with experts about everything that bothers them. Whether it's something at the workplace or something at home, experienced counselors are there to help. This outstanding counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
  • DENTAL PLAN: CVS HEALTH cares about its team members' dental health so it offers an impressive dental plan for employees and their family members that fully covers all sorts of preventative dental care as well as reconstructive surgeries and other orthodontia services.
  • HEALTH INSURANCE: CVS HEALTH offers a valuable health insurance for its team members that covers a most basic and some complex medical procedures.
  • HEALTH PLAN INCENTIVES: CVS HEALTH is aware of the fact that a healthy employee is a productive employee so it offers outstanding health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
  • HEALTHCARE SPENDING ACCOUNTS: CVS HEALTH 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: CVS HEALTH offers an impressive maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
  • TELEHEALTH: CVS HEALTH does not offer telehealth.
  • VISION PLAN: CVS HEALTH provides a superior Vision Plan covers all sorts of eye-related medical assistance for its team members, with an additional option for covering the costs of glasses and contact lenses.
CVS HEALTH's healthcare benefits comparison table

Benefit

CVS HEALTH

Industry

Rhode Island

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

CVS HEALTH offers top-notch financial benefits for employees and their family members. A top-notch 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: CVS HEALTH has a remarkable 401(k) plan as it realizes that many of its team members are concerned with the future and want to retire with a sizable retirement fund. CVS HEALTH provides a 401(k) plan where employees can rest assured that the money they put aside will allow them to live comfortably in retirement. Employees are encouraged to invest up to 5% in 401(k) by a remarkable CVS HEALTH has Matching program that matches 75% of employees' contributions. Whatever CVS HEALTH contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave CVS HEALTH. Recognizing that every team member is unique, with specific needs and goals, CVS HEALTH keeps their members informed about their 401(k) options.
  • ADOPTION ASSISTANCE REIMBURSEMENT: CVS HEALTH has an excellent Adoption Assistance Reimbursement program. It is one of the best available as it covers various court fees and attorney costs for team members, even if the child comes from a foreign country.
  • BONUS PAY: CVS HEALTH has a solid bonus plan that takes into account the individual efforts of a certain team member, as well as the results that those efforts generated.
  • CHILDCARE DISCOUNT: CVS HEALTH has an impressive childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
  • COMMUTER BENEFIT: CVS HEALTH has a valuable commuting policy and offers commuter benefits that allow eligible team members to cover their transportation or parking costs up to a certain distance from the place of work.
  • DAYCARE FLEXIBLE SPENDING ACCOUNT: CVS HEALTH offers a superb daycare policy for its members, with a flexible spending account which team members can use to pay for various daycare expenses for when they are at work.
  • DISABILITY: CVS HEALTH offers a remarkable 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: CVS HEALTH offers a good life insurance policy to its team members for an affordable price. CVS HEALTH participates with 50% of the costs of the policy which makes it enticing for employees to buy it. Beneficiaries of team members can expect to get up to 1 year worth of employee's salary.
  • PAID TIME OFF: CVS HEALTH wants for its team members to lead a happy and fulfilled life so it has a solid vacation policy for every employee. The number of paid vacation days depends on how long has a certain member been part of the team.
  • PAID VOLUNTEER TIME OFF: CVS HEALTH does not offer paid volunteer time off.
  • PARENTAL LEAVE: CVS HEALTH has a solid parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
CVS HEALTH's financial benefits comparison table

Benefit

CVS HEALTH

Industry

Rhode Island

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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