GEICO Employee Benefits and Perks 2020
Government Employees Insurance Company shortly GEICO is an American auto insurance company known for its property insurance, as well as umbrella coverage. Based in Maryland, it is a wholly-owned subsidiary of Berkshire Hathaway, it has appointed more than 40,000 employs throughout America and provides coverage for more than 24 million motor vehicles throughout America.
GEICO believes that employees are their most important asset. Cause of, GEICO has pledged to take care of employees, rewarding them for their hard work and dedication.
To treat its employees well, GEICO offers a comprehensive Total Rewards Program, benefits, discounts, and opportunities with choice and flexibility for their employees and dependent.
So, if you’re looking for a job at GEICO or working with GEICO, read below what employee benefits at GEICO you can enjoy as a part of it.
GEICO ASSOCIATE BENEFITS
GEICO has committed to the growth and development of its diverse teams of workers from interns to experienced professionals.
To deal with this, they offer a range of comprehensive Total Rewards Program, Job benefits, discounts, and opportunities with choice and flexibility for their employees and dependent.
GEICO Employee Benefits include a variety of options to secure your financial future and preserve employee’s health and well-being.
GEICO Benefits designed specially to take care of employee’s total well-being: physical, mental, financial, and social. GEICO Employee Discounts are also offered in order to help employees to be productive and happy at work and at home.
So, if you’ve newly appointed at GEICO, or not sure about GEICO employee benefits and privileges, then go through this guideline carefully.
Health & Well-Being at Geico
Medical, Dental & Vision Insurance
- GEICO offers two self-insured medical plan options and some fully-insured HMO plan options in certain locations
- GEICO’s medical plans include virtual visits at a lower copayment than a primary care physician and/or specialist visit.
- Two comprehensive dental plans with coverage for diagnostic and preventive care (e.g., exams and cleanings, scaling and polishing, fluoride treatments, x-rays, and lab tests, etc., all with no coinsurance or copay), oral treatments, and orthodontic care
- Comprehensive vision plan includes coverage for frames, lenses, contact lenses, eye exams with dilation, retinal imaging, discounts on laser vision correction, etc.
Flexible Spending Account
- Health Care FSA allows an associate to set aside pre-tax money each year to pay for eligible out-of-pocket health care expenses
- Dependent Care (Day Care) FSA allows an associate to set aside pre-tax dollars to cover child and elder care expenses
Life, Disability & Accident Insurance
Basic Term Life insurance equal to 50% of an associate’s total base pay is automatically provided upon hire
Optional Term Life insurance can be purchased up to 6.5 times an associate’s total base pay, capped at a maximum of combined Basic Life and Optional Term Life insurance of $1,500,000
Associates may also enroll in Voluntary Group Accident Insurance (Accidental Death & Dismemberment) at affordable rates for themselves and eligible family members.
Finance & Retirement at GEICO
Traditional & Roth 401(k) Plans
- Automatically enrolled in the Plan at a pre-tax contribution rate of 4% of eligible earnings
- Associates can make pre-tax and/or post-tax contributions
- Associates can manage their accounts easily at vanguard.com or by calling Vanguard’s VOICE™ Network
This plan rewards eligible associates based on two key factors: policy growth and underwriting performance.
An associate’s share of any company contribution up to 10% is deposited directly to their Vanguard account; any profit-sharing award in excess of 10% of eligible earnings is paid to the associate by direct deposit (unless an eligible associate elects to defer a portion of the profit-sharing cash payout)
To become eligible, associates must meet service requirements.
Past performance is not a guarantee of future results, and profit-sharing is not a guaranteed benefit.
GEICO Federal Credit Union
- Provides convenient on-site banking and ATMs
- Associates can secure their money in insured accounts
- Home, car, and education loans are offered at competitive interest rates
Education & Training
- Eligible full-time associates may enroll to further their undergraduate education
- Reimburses up to $5,250 per calendar year and covers application fees, tuition, course-related charges, and applicable textbook costs.
- GEICO offers hundreds of e-learning and instructor-led courses
- Classes include business and management courses, diversity and ethics, Microsoft Office, Six Sigma training, presentation skills, project management, business writing, statistics, and more.
Paid Training & Licensures
- GEICO’s paid training in sales, customer service, claims, and auto damage is considered among the best in the insurance industry
- Licensing and continuing education courses are provided by the company at no cost to associates.
Family & Leave
Paid Vacation, Holidays & Leave
Paid vacation and sick leave are each accrued at 10 days annually during an associate’s first five years; paid time and leave vary for management-level associates.
GEICO provides 10 weeks of paid parental leave to recover from giving birth and for bonding with newborns or newly-adopted children.
Eligible associates are those who work full-time and have been employed with GEICO for at least 12 months at the anticipated birth date or adoption date.
Associates also receive six additional paid holidays.
Associates also receive four additional floating holidays (earned one per quarter).
Associate Assistance Program
- Provides legal assistance, debt services, and financial consultation to associates and family members permanently residing in their household at no cost
- Counseling available for stress, anxiety, and other needs
- GEICO’s AAP provides up to three phone and/or in-person counseling sessions at no cost.
Dependent Care, FSA & Adoption & Fertility Assistance
GEICO provides up to $5,000 in assistance per adoption.
GEICO offers a lifetime prescription drug benefit of $10,000 and a medical plan benefit of $25,000 for fertility treatment and services in our self-insured medical plans
Fertility assistance can include assisted reproductive technology (ART) most often involving in vitro fertilization (IVF), artificial insemination, medication prescribed to treat infertility, as well as recommended surgery.
GEICO offers pre-tax dollars for associates to use to cover a variety of child and elder care expenses.
The maximum amount for Dependent Care FSA is $5,000 ($2,000 if classified as a highly compensated associate) or $2,500 if married but file taxes separately.
Hopefully, you like the available information on GEICO Employee Benefits and Discounts.
Feel free to contact us for any of the above GEICO HR or employee helpline contacts if you are unable to get any employee benefits at GEICO.
For online assistance, share the issues in the comment box and get help here. Thank you!