This report analyzes and compares BOSTON SCIENTIFIC's employee health insurance and employee benefits with its industry and in Massachusetts 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
BOSTON SCIENTIFIC has top-notch 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 BOSTON SCIENTIFIC. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: BOSTON SCIENTIFIC believes that career planning of each employee is a key to a successful business and offers valuable opportunities so that the employees can reach their full potential. BOSTON SCIENTIFIC has valuable resources at its disposal to achieve this goal.
- COACHING AND MENTORING: BOSTON SCIENTIFIC believes that an outstanding coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: BOSTON SCIENTIFIC 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: BOSTON SCIENTIFIC has a top-notch policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: BOSTON SCIENTIFIC believes that providing its team members with extraordinary leadership programs is a crucial step in creating new leaders. By using extraordinary tools that BOSTON SCIENTIFIC provides for them, employees are able to learn what makes or breaks a leader.
- ONBOARDING: Whether the newcomer is an entry-level employee or a seasoned manager, coming to a new place of work is never easy. That's why BOSTON SCIENTIFIC offers an impressive Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: BOSTON SCIENTIFIC has a remarkable Recognition program in place and makes sure that team members who constantly achieve extraordinary results and work well with others are properly rewarded for their efforts.
- TUITION REIMBURSEMENT: BOSTON SCIENTIFIC 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 | BOSTON SCIENTIFIC | Industry | Massachusetts |
|---|---|---|---|
| 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
BOSTON SCIENTIFIC 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 BOSTON SCIENTIFIC's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BOSTON SCIENTIFIC does not offer counseling.
- DENTAL PLAN: BOSTON SCIENTIFIC 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: BOSTON SCIENTIFIC offers a valuable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, BOSTON SCIENTIFIC offers suitable health plan incentives for its employees. Employees have at their disposal various resources through which they can learn about their health and how to improve it.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, BOSTON SCIENTIFIC offers a suitable 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: BOSTON SCIENTIFIC offers an exceptional maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: BOSTON SCIENTIFIC has a suitable 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. BOSTON SCIENTIFIC can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: BOSTON SCIENTIFIC provides a remarkable 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 | BOSTON SCIENTIFIC | Industry | Massachusetts |
|---|---|---|---|
| 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
Team members enjoy suitable financial benefits at BOSTON SCIENTIFIC. They have a good variety of financial benefits at their disposal and can always count on financial help when it comes to disability or commuting. BOSTON SCIENTIFIC offers suitable life insurance with affordable rates, as well as parental leave for expecting mothers. Employees who decide to adopt a child can expect BOSTON SCIENTIFIC to partially cover the expenses.
- 401(K) PLAN: BOSTON SCIENTIFIC has an outstanding 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, BOSTON SCIENTIFIC offers an outstanding program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, BOSTON SCIENTIFIC offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: BOSTON SCIENTIFIC 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: BOSTON SCIENTIFIC offers first-class bonuses to team members who excel in their field of work, provide extraordinary results for BOSTON SCIENTIFIC, and encourage others to do the same.
- CHILDCARE DISCOUNT: BOSTON SCIENTIFIC does not offer childcare discount.
- COMMUTER BENEFIT: BOSTON SCIENTIFIC has a great 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: BOSTON SCIENTIFIC offers an impressive 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: BOSTON SCIENTIFIC 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: BOSTON SCIENTIFIC offers a great life insurance policy to its team members for an affordable price. BOSTON SCIENTIFIC 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: BOSTON SCIENTIFIC wants for its team members to lead a happy and fulfilled life so it has a good 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: BOSTON SCIENTIFIC does not offer paid volunteer time off.
- PARENTAL LEAVE: BOSTON SCIENTIFIC has a great parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BOSTON SCIENTIFIC | Industry | Massachusetts |
|---|---|---|---|
| 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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