Since 1998, FedEx has consistently appeared on Fortune magazine’s list of the “100 Best Companies to Work For in America.” Part of that recognition comes from the full range of benefits the company extends to all full-time employees, including package handlers. Even part-timers have access to most of these benefits as well.
Full-time employees can choose from among three medical plans, all underwritten by Anthem Blue Cross. They all include coverage for medical and prescription expenses; the differences are in the employee’s costs and out-of-pocket expenses. Two different dental plans as well as vision care are also available. Part-time employees also have the opportunity to buy health coverage with a choice of two medical plans through Starbridge, as well as dental and vision insurance.
Flexible Spending Accounts
FedEx offers two of these popular pre-tax accounts, where funds deposited by the employee are not included in taxable income. The Health Care Reimbursement Account may be used for any out-of-pocket health-related expenditures, and the Dependent Care Assistance Program provides funds towards day care expenses for any dependent family member, including seniors. In addition, FedEx employees may be eligible for discounts at certain day care centers. Employees should check with their human resources department for centers in their area.
A number of additional insurance options are available to employees, including life insurance and disability benefits at no cost to full-timers. Also offered through group programs providing discounts are a cancer coverage plan from AFLAC and numerous services from MetLife, such as long-term care coverage, home and auto insurance, and legal and banking services. There’s even a plan for veterinary pet insurance.
All employees are eligible for FedEx’s 401(k) Retirement Savings Plan, to which FedEx makes matching contributions. Employee contributions are pre-tax and may range from 1 to 50 percent of the employee's compensation. In addition, an Employee Stock Purchase Plan provides the opportunity for employees to purchase FedEx stock directly through taxable payroll deductions.
FedEx makes getting ahead a little easier with its Educational Assistance Plan, through which the company reimburses tuition for college or graduate courses related to the employee’s position in the company. There’s also a Scholarship Program for employees and their dependent children. Additional financial help for employees adopting a child comes with the Adoption Benefit Program, which contributes up to $5,000 toward adoption expenses. Another popular benefit covers some commuter costs with pre-tax deductions for public transportation or parking, including expenses for parking at public transportation facilities, such as a train or rapid-transit station.
- Brian Jackson/iStock/Getty Images