This report analyzes and compares INOVALON'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
Career benefits
INOVALON 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 INOVALON. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: INOVALON offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, INOVALON makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: By using a valuable coaching and mentoring program, INOVALON can determine what should every team member focus on to grow and increase productivity.
- DEVELOPMENT RESOURCES: INOVALON encourages its team members to work on their existing skills and gain new ones continually. By providing valuable development resources, INOVALON supports their team members on their journey to perfection. Employees have a wide range of valuable resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: INOVALON has a superb policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: INOVALON does not offer leadership programs.
- ONBOARDING: INOVALON is aware of the difficulties that new employees might experience when they join the team. That's why INOVALON has a good Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: INOVALON knows that dedicated team members are hard to come by so it has an excellent Recognition program for those who stand out and continually contribute to INOVALON.
- TUITION REIMBURSEMENT: INOVALON has a first-class Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at INOVALON.
Benefit | INOVALON | Industry | Maryland |
|---|---|---|---|
| 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
INOVALON 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 INOVALON's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: INOVALON is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why INOVALON implemented a solid 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 solid counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: INOVALON cares about its team members' dental health so it offers an excellent 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: INOVALON provides an exceptional health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: INOVALON does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: INOVALON offers an exceptional 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: INOVALON has a solid maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: INOVALON does not offer telehealth.
- VISION PLAN: INOVALON 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.
Benefit | INOVALON | Industry | Maryland |
|---|---|---|---|
| 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
INOVALON offers remarkable financial benefits for employees and their family members. A remarkable 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: INOVALON 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. INOVALON 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 INOVALON has Matching program that matches 75% of employees' contributions. Whatever INOVALON contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave INOVALON. Recognizing that every team member is unique, with specific needs and goals, INOVALON keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: INOVALON has a remarkable Adoption Assistance Reimbursement program in place for employees who are planning to adopt a child. Most of the adoption fees are eligible to be reimbursed by INOVALON.
- BONUS PAY: INOVALON 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: INOVALON offers a good discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: INOVALON acknowledges the fact that some team members have high commuting costs so it offers them superb commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: INOVALON has a great 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: INOVALON offers a superb 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: INOVALON offers a suitable life insurance policy to its team members for an affordable price. INOVALON 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: INOVALON has an excellent 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: INOVALON has a first-class volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, INOVALON stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: INOVALON has a valuable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | INOVALON | Industry | Maryland |
|---|---|---|---|
| 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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