This report analyzes and compares FIRST MERCHANTS' employee health insurance and employee benefits with its industry and in Indiana State.

COMPARE FIRST MERCHANTS' 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

FIRST MERCHANTS 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 FIRST MERCHANTS. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.

  • CAREER PLANNING: FIRST MERCHANTS continually evaluates its team members to determine the potential and direction of employees' careers. The outstanding tools that FIRST MERCHANTS uses for career planning allow employees to develop their skills and gain new insights about the industry.
  • COACHING AND MENTORING: FIRST MERCHANTS believes that an excellent coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
  • DEVELOPMENT RESOURCES: FIRST MERCHANTS offers superior development resources to enable its employees to grow on a personal and a professional plan. With access to superior intern programs and seminars, employees can learn new skills and stay at the top of their fields.
  • GED REIMBURSEMENT: FIRST MERCHANTS has an outstanding GED policy and offers to pay full costs for employees who want to obtain a GED.
  • LEADERSHIP PROGRAMS: FIRST MERCHANTS is always on the lookout for new leadership material and offers solid development programs for its team members. With access to solid resources, FIRST MERCHANTS ensures that team members with a potential for becoming leaders can achieve their goals.
  • ONBOARDING: FIRST MERCHANTS is aware of the difficulties that new employees might experience when they join the team. That's why FIRST MERCHANTS has a suitable Onboarding program that makes sure the transition period goes as smoothly as possible.
  • RECOGNITION PROGRAMS: FIRST MERCHANTS knows that dedicated team members are hard to come by so it has an extraordinary Recognition program for those who stand out and continually contribute to FIRST MERCHANTS.
  • TUITION REIMBURSEMENT: FIRST MERCHANTS realizes that continuous education is a key to success so it has an outstanding Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
FIRST MERCHANTS's career benefits comparison table

Benefit

FIRST MERCHANTS

Industry

Indiana

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

FIRST MERCHANTS offers first-class 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 FIRST MERCHANTS's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.

  • COUNSELING: FIRST MERCHANTS is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why FIRST MERCHANTS implemented a valuable counseling program that helps team members during office hours. Employees can receive a psychological and emotional support during difficult periods of their time and learn how to effectively cope with stress. This valuable counseling program includes nutritional and fitness information as well.
  • DENTAL PLAN: Team members at FIRST MERCHANTS 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. FIRST MERCHANTS partially pays for dentures and braces as well.
  • HEALTH INSURANCE: FIRST MERCHANTS offers a suitable health insurance for its team members that covers a most basic and some complex medical procedures.
  • HEALTH PLAN INCENTIVES: FIRST MERCHANTS 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. FIRST MERCHANTS provides educational material and seminars.
  • HEALTHCARE SPENDING ACCOUNTS: FIRST MERCHANTS offers an extraordinary 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: FIRST MERCHANTS offers an impressive maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
  • TELEHEALTH: FIRST MERCHANTS does not offer telehealth.
  • VISION PLAN: FIRST MERCHANTS provides a top-notch 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.
FIRST MERCHANTS's healthcare benefits comparison table

Benefit

FIRST MERCHANTS

Industry

Indiana

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

FIRST MERCHANTS 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: FIRST MERCHANTS knows how important it is to think about retirement and start saving on time. That's why it offers a suitable 401(k) plan that enables every team member to build a decent retirement fund at their own pace. Team members are allowed to put aside up to 4% of their salary and FIRST MERCHANTS will match 50% of it. The employees can choose from multiple investment plans, according to their wishes and lifestyles. For those who are not sure about their investment options, FIRST MERCHANTS provides resources which will help team members decide what to do with their 401(k) plan. FIRST MERCHANTS offers a suitable vesting schedule with a gradual increase of 25% per year.
  • ADOPTION ASSISTANCE REIMBURSEMENT: FIRST MERCHANTS 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: FIRST MERCHANTS has a great 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: FIRST MERCHANTS offers a great discount for primary childcare to its team members and enables them affordable prices.
  • COMMUTER BENEFIT: FIRST MERCHANTS offers extraordinary 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: FIRST MERCHANTS offers an outstanding daycare program for its employees. Team members can withdraw funds from a flexible spending account to cover all sorts of expenses related to daycare or eldercare.
  • DISABILITY: FIRST MERCHANTS 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: FIRST MERCHANTS has a top-notch life insurance program and offers fully paid life insurance policies for its team members. The policy pays around two years worth of salary to employees' beneficiaries. Option to buy additional coverage is available for every team member.
  • PAID TIME OFF: FIRST MERCHANTS has an outstanding 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: FIRST MERCHANTS has a top-notch volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, FIRST MERCHANTS stimulates its team members to use two paid days every quartal for volunteering purposes.
  • PARENTAL LEAVE: FIRST MERCHANTS has a good parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
FIRST MERCHANTS's financial benefits comparison table

Benefit

FIRST MERCHANTS

Industry

Indiana

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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