This report analyzes and compares GEICO's employee health insurance and employee benefits with its industry and in Maryland 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
GEICO has superb 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 GEICO. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: GEICO continually evaluates its team members to determine the potential and direction of employees' careers. The excellent tools that GEICO uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: GEICO believes that an extraordinary coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: GEICO offers first-class development resources to enable its employees to grow on a personal and a professional plan. With access to first-class intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: GEICO has a great GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: GEICO does not offer leadership programs.
- ONBOARDING: GEICO offers a superior Onboarding program for its new team members. Employees receive a personalized support in an effort to bring them up to date and successfully integrate them into existing teams and projects.
- RECOGNITION PROGRAMS: GEICO knows that dedicated team members are hard to come by so it has an exceptional Recognition program for those who stand out and continually contribute to GEICO.
- TUITION REIMBURSEMENT: GEICO realizes that continuous education is a key to success so it has an impressive Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
|Career planning Benefits|
|Coaching and mentoring Benefits|
|Development resources Benefits|
|GED reimbursement Benefits|
|Leadership programs Benefits|
|Recognition programs Benefits|
|Tuition reimbursement Benefits|
GEICO offers remarkable 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 GEICO's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: GEICO has an extraordinary counseling program for its employees and their family members. Team members are encouraged by GEICO 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 extraordinary counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: Team members at GEICO 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. GEICO partially pays for dentures and braces as well.
- HEALTH INSURANCE: GEICO provides an impressive health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: GEICO does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: GEICO has a remarkable healthcare spending account available for their team members. Funds that are placed there are tax-free and can be used for medical necessities. Whatever money is left in the account at the end of the year is automatically carried over to the next year.
- MATERNITY SUPPORT PROGRAM: Aware of the challenges that come with pregnancy, GEICO has created a top-notch maternity support program to support its expecting team members.
- TELEHEALTH: GEICO has a great telehealth policy available for its team members. Employees have access to exams and opinions over the phone which saves them a lot of time and stress. GEICO can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: GEICO offers a solid Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
|Dental Plan Benefits|
|Health Insurance Benefits|
|Health Plan Incentives Benefits|
|Healthcare Spending Accounts Benefits|
|Maternity support program Benefits|
|Vision Plan Benefits|
GEICO 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: GEICO has a superb 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. GEICO 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 superb GEICO has Matching program that matches 75% of employees' contributions. Whatever GEICO contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave GEICO. Recognizing that every team member is unique, with specific needs and goals, GEICO keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: GEICO does not offer adoption assistance reimbursement.
- BONUS PAY: GEICO offers superb bonuses to team members who excel in their field of work, provide extraordinary results for GEICO, and encourage others to do the same.
- CHILDCARE DISCOUNT: GEICO cooperates with partners and team members are eligible for first-class discounts for a primary childcare.
- COMMUTER BENEFIT: GEICO 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: GEICO offers a first-class 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: GEICO has an impressive disability program available for eligible team members. Whether it's a short- term or a long-term disability, team members can rest assured that their financial status won't be compromised even when they are not working. Once the short-term disability coverage expires, employees have the option to enjoy long-term disability coverage.
- LIFE INSURANCE: GEICO offers a suitable life insurance policy to its team members for an affordable price. GEICO 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: GEICO realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why GEICO has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: GEICO believes that exceptional volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That's why GEICO offers its team members up to 50 hours of paid volunteer time off.
- PARENTAL LEAVE: GEICO has an excellent parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
|401(k) plan Benefits|
|Adoption assistance reimbursement Benefits|
|Bonus pay Benefits|
|Childcare discount Benefits|
|Commuter benefit Benefits|
|Daycare flexible spending account Benefits|
|Life insurance Benefits|
|Paid time off Benefits|
|Paid volunteer time off Benefits|
|Parental leave Benefits|
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