This report analyzes and compares MERIT MEDICAL SYSTEMS' employee health insurance and employee benefits with its industry and in Utah 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
MERIT MEDICAL SYSTEMS has remarkable 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 MERIT MEDICAL SYSTEMS. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: MERIT MEDICAL SYSTEMS continually evaluates its team members to determine the potential and direction of employees' careers. The exceptional tools that MERIT MEDICAL SYSTEMS uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: MERIT MEDICAL SYSTEMS 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: excellent development resources are what allows MERIT MEDICAL SYSTEMS to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in excellent workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: MERIT MEDICAL SYSTEMS has a remarkable policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: MERIT MEDICAL SYSTEMS does not offer leadership programs.
- ONBOARDING: MERIT MEDICAL SYSTEMS is aware of the difficulties that new employees might experience when they join the team. That's why MERIT MEDICAL SYSTEMS has a solid Onboarding program that makes sure the transition period goes as smoothly as possible.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, MERIT MEDICAL SYSTEMS implemented a valuable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: MERIT MEDICAL SYSTEMS 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.
Benefit | MERIT MEDICAL SYSTEMS | Industry | Utah |
|---|---|---|---|
| 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
MERIT MEDICAL SYSTEMS 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 MERIT MEDICAL SYSTEMS's first-class maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: MERIT MEDICAL SYSTEMS has an excellent counseling program for its employees and their family members. Team members are encouraged by MERIT MEDICAL SYSTEMS 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 excellent counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: MERIT MEDICAL SYSTEMS cares about its team members' dental health so it offers an exceptional 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: MERIT MEDICAL SYSTEMS provides an outstanding health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: MERIT MEDICAL SYSTEMS offers its team members remarkable 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. MERIT MEDICAL SYSTEMS provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, MERIT MEDICAL SYSTEMS offers a solid healthcare spending account where employees can deposit a part of their paycheck, free of taxes, and use it to pay hospital bills or other eligible expenses. Any remaining funds left at the end of the year are forfeited.
- MATERNITY SUPPORT PROGRAM: MERIT MEDICAL SYSTEMS has a good maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: MERIT MEDICAL SYSTEMS does not offer telehealth.
- VISION PLAN: MERIT MEDICAL SYSTEMS provides a first-class 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 | MERIT MEDICAL SYSTEMS | Industry | Utah |
|---|---|---|---|
| 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
MERIT MEDICAL SYSTEMS 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: MERIT MEDICAL SYSTEMS knows how important it is to think about retirement and start saving on time. That's why it offers a good 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 MERIT MEDICAL SYSTEMS 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, MERIT MEDICAL SYSTEMS provides resources which will help team members decide what to do with their 401(k) plan. MERIT MEDICAL SYSTEMS offers a good vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: MERIT MEDICAL SYSTEMS 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: MERIT MEDICAL SYSTEMS offers first-class bonuses to team members who excel in their field of work, provide extraordinary results for MERIT MEDICAL SYSTEMS, and encourage others to do the same.
- CHILDCARE DISCOUNT: MERIT MEDICAL SYSTEMS does not offer childcare discount.
- COMMUTER BENEFIT: MERIT MEDICAL SYSTEMS offers exceptional 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: MERIT MEDICAL SYSTEMS has a solid 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: MERIT MEDICAL SYSTEMS offers a superior 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: MERIT MEDICAL SYSTEMS offers an exceptional 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 exceptional life insurance package contains dependent policies as well.
- PAID TIME OFF: MERIT MEDICAL SYSTEMS wants for its team members to lead a happy and fulfilled life so it has a suitable 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: MERIT MEDICAL SYSTEMS does not offer paid volunteer time off.
- PARENTAL LEAVE: MERIT MEDICAL SYSTEMS has a valuable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | MERIT MEDICAL SYSTEMS | Industry | Utah |
|---|---|---|---|
| 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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