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Bank of America Employee Benefits & Perks

Bank of America Employee Benefits & Perks

With almost 204,489 employees, Bank of America provides a broad range of retail banking, investment banking products, and related services across the USA.

90% of Bank of America employees signifies it is a great place to work.

Do you think so? or want to start to join Bank of America Careers? 

If Yes, then read the following article to understand what are employee benefits at Bank of America and the company culture.

Here below I have explained Bank of America Employee Benefits packages along with Bank of America Employee Health Benefits, Bank of America Retirement Benefits, and various Bank of America Employee Discounts, offered by the bank.

Why do Employees say Bank of America Is a Great Workplace?

Bank of America committed to providing a comprehensive benefits program and help them cultivate its future. In order to so, the bank offers market-competitive packages of Bank of America employee benefits, perks, and discounts that help its employees to support their physical and financial health in the future.

Bank of America employee benefits Programme allows its employees to –

  • Cultivate future employment.
  • Support physical and financial health
  • Broaden private medical insurance for employees future
  • Maximize what employees and Bank of America invest for employees future
  • Enjoy flexible time planning to work
  • Employee Share Ownership Plan

Bank of America also offers several voluntary benefits that help employees to work together to bettered employees’ physical and financial well-being.

So, if you are working at any Bank of America, read the following article to understand the company culture and Bank of America employee benefits of working with the bank. 

Bank of America Benefits, Perks, and Employee Discounts

Bank of America offers competitive compensation, meaningful recognition, and a full range of Bank of America benefits and employee discounts.

Covering from health and wellness to income protection and retirement to work/life benefits. Read below what various benefits and discounts, you can get as a Bank of America employee?

Bank of America Employee Benefits Description
Health Insurance
  • Bank of America health benefits for employees
  • Best health care plan coverage for basic healthcare, dental, and vision
401(k) Plan 100% match on employee’s first 4% contribution
Life Insurance Bank of America Life Insurance offers a one year salary plus additional benefits to beneficiaries
Vision Insurance Coverage and discounts available for eligible employees pay the premium for eligible employees and all enrolled dependents
Dental Insurance Dental coverage for preventive dental care, orthodontia services, and reconstructive surgeries
Disability Insurance Bank of America provides long-term disability insurance and will pay for the 60% of Base Pay option
Accidental Death & Dismemberment Insurance Death/Dismemberment/Disability insurance
Pension Plan Up to 5% on a salary after 2 years.
Maternity & Paternity Leave 13 weeks of maternity leave and 4 weeks of paternity leave is available.
Flexible Spending Account Available for full-time employees
Bank of America employee benefits, vacation 2 weeks of PTO are available.
Paid Holidays Up to 10 days of paid holidays are available. Varies by location
Volunteer Time-Off 2 days/year manager approve leaves are available.
Commuter Checks and Assistance Commuter benefits for eligible team members to cover various commuting expenses
Military Leave Manager approves Military leaves are available
Employee Assistance Program Bank of America Free Employee Assistance Program to promote and cultivate employees’ future
Tuition Assistance

Tuition reimbursement for tuition fees is available for paying tuition fees

Bank of America Health Benefits for employees

Bank of America wants to be helpful for its employees and family members. In order to do so, they offer a basic healthcare plan covering medical, dental, and vision coverage. Employees can open a tax-advantaged Health Savings Account through Bank of America’s medical plan and receive a contribution from the company.

Bank of America provides basic Health and life insurance to offer financial protection for serious accidents or death. Which includes basic life insurance, travel accident insurance, supplemental life, and accident insurance. The bank also offers the facility of tax-free Spending account and helps employees to save money for eligible health care, dependent care, and commuter expenses. 

Best Employee Benefits At Bank of America

The followings are the best employee benefits at Bank of America, reviewed by former Bank of America employees

  • Bank of America health benefits coverage on medical, dental, and vision plans.
  • Bank of America 401K Plan – 401 (k) plan with a 100% match on employee’s first 4% contribution
  • 13 weeks of maternity leave and 4 weeks of paternity leave
  • Tuition Reimbursement, Adoption Assistance, and Employee Assistance Program
  • Death/Dismemberment/Disability insurance
  • Employee Share Purchase Plan
  • Bank of America Retirement Benefits,
  • Bank of America Pension Plans
  • Bank of America Employee Discounts

Overall, Bank of America Benefits for employees are quite unique and comprehensive which ensures high and improving employee retention rates.

Find Career at Bank Of America

Bank Of America Customer Service Center

Bank of America Customer Service Number: 800.806.7009

Bank of America Customer support Site: https://www.bankofamerica.com/customer-service/contact-us/about-bank-of-america/

Conclusion

I hope that you will be satisfied with the details available here on Bank of America Employee Benefits and Bank of America Benefits.

Have you ever worked at Bank of America? What do you like the most there? Have you’d a great experience with Bank of America Employees? Tell us about it in the comments below!

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