Types of Employee Benefits
There are some employee benefits that are mandated by law, including minimum wage, overtime, leave under the Family Medical Leave Act, unemployment, and worker's compensation and disability. There are other types of employee benefits that employers choose to provide to their employees.
Employee Benefits Packages
An employee benefits package includes all the benefits provided by an employer. Employers are required by law (federal and state) to provide some types of employee benefits. Others are optional.
Employee Benefit Questions to Ask
You've interviewed at a company where the position sounds great, the salary is more than you expected, and the job offer is on the table. Before you say "yes" though, it's important to consider the employee benefit package.
Evaluating Employee Benefits and Perks
For many of us, the most important factor in considering a job offer is salary. For others, job security is of primary importance. Also high on the list of considerations are benefits and perks. When evaluating benefit and perk packages consider those that best meet your personal situation and your lifestyle.
Holidays, Holiday Leave and Holiday Pay
The Federal Government provides employees with nine paid holidays each year. Private sector employees may provide holiday days off or holiday pay for working on a holiday, but the are not required to pay you extra for time worked on a holiday or give you a holiday off from work.
Dental Care Benefits
Companies with dental care benefits offer insurance that helps pay a portion of the cost for dental treatment and care.
Employee Assistance Program (EAP)
An Employee Assistance Program (EAP) is a benefit program provided to employees by their employer.
Employee Stock Ownership Plan
An employee stock ownership plan (ESOP) is an employee benefit plan that provides a company’s workers with an ownership interest in the company.
Flexible Benefit Plans
More and more employers are offering flexible benefit plans. When they are available, the employer will contribute a certain amount of money toward your benefits. You can then choose which benefits you want based upon your and your family's needs.
Flexible Spending Account (FSA)
A flexible spending account (FSA) is a financial account set up by an employer.
Benefits are the employee benefits that are provided by employers in addition to salary.
Health Care Benefits
Companies with health care benefits offer assistance with medical costs. In some cases, the health care costs are covered by the employer. At other companies the employee shares in the costs.
Family and Medical Leave Act
The Family and Medical Leave Act (FMLA) can be of assistance if you need to take time off from work because of family responsibilities. The first step is to ask your employer what Family and Medical Leave Act benefits are provided to employees.
Employers are not required to provide health insurance coverage to employees. Health insurance is typically a matter of agreement between an employer and employees.
Long Term Disability Insurance
Some employers provide long term disability coverage to employees. Individuals can also purchase their own long term disability policy.
Maternity leave, Paternity leave, Adoption Leave
Family leave, which includes maternity leave or paternity leave and adoption leave, provides for paid or unpaid time off from work after the birth or adoption of a child.
Nursing Mothers at Work
The Patient Protection and Affordable Care Act sets out requirements for employers to provide employees the time and space for nursing mothers to express breast milk throughout the work day for one full year after the birth of a child.
Prescription Drug Benefits
Prescription drug benefits are a relatively new benefit that companies offer.
How the ADA Impacts Job Seekers
The details about how the American with Disabilities Act impacts job applicants.
Severance package information including what's included in a severance package, typical severance packages, and when you can negotiate a severance package.
Vision Care Benefits
Companies with vision care benefits offer vision insurance that helps pay a portion of the cost for certain procedures and care, outlined in the provider’s policy.
Short Term Disability Insurance
Short term disability insurance coverage is provided by some states and/or by some employers.