Advantages that make a difference.
Our philosophy on benefits is simple: provide you and your family with the health care options, resources and financial incentives needed to enrich your life personally and financially. That’s why King Pharmaceuticals takes special care to recognize the contributions of our employees by delivering one of the most comprehensive benefit plans in our industry.
We have a history of rewarding employees for their hands-on involvement in the company’s success and growth. In our performance-driven environment, we are always looking for additional avenues of recognition. All in all, you’ll find the rewards of working at King Pharmaceuticals go far beyond a paycheck and don’t end when your workday does. Here’s a brief overview:
Flexible Spending Accounts (FSA)
Employee Assistance Program (EAP)
Hold your mouse over the links in the list for a brief explanation of each of these benefits
Medical Insurance Plans
King offers all employees a PPO open choice network of providers. Visits to internists, general or family practitioners and pediatricians for routine care and illness or injury diagnosis and treatment are covered under the plan with a $15 patient co-pay. A $30 co-pay applies to all specialists’ office visits with participating providers.
Prescription Coverage
If you are enrolled in King’s medical plan, prescription coverage is included for use at approved pharmacies. Brand-name prescription drugs have a 25% co-pay and generic drugs have a $10 co-pay. Prescriptions for any King-owned drug are covered under the plan and are not subject to a patient co-pay.
Vision Plan
King provides affordable vision care coverage, which includes a $15 co-pay for an annual eye exam. The plan pays for the cost of eye glass lenses, frames and contact lenses up to a combined maximum of $175 every 24 months.
Dental Insurance Plans
King offers employees a dental plan that encourages preventative care and routine checkups to help avoid extensive future treatment.
Company-Provided Short-Term Disability
Employees unable to work due to pregnancy or a non-work-related qualifying illness or injury may be eligible for short-term disability (STD) income benefits.
Long-Term Disability
King offers long-term disability coverage at no cost to employees who are assigned to a regular schedule of at least 40 hours per week.
Company-Provided Basic Life Insurance
King provides all benefits-eligible employees with a Basic Life Insurance benefit.
Optional Basic Life Insurance
In addition to the Basic Life benefit provided to you at no cost, an Optional Basic Life Insurance plan is offered to provide added flexibility for you and your family’s life insurance needs.
Health Care FSA & Dependent Care FSA
A Flexible Spending Account (FSA) allows you to pay for certain non-covered medical expenses or unclaimed daycare expenses with pre-tax income for a plan year.
Employee Assistance Program (EAP)
When you find yourself in a crisis situation or need help with everyday issues that are becoming difficult to handle, use your Employee Assistance Program. EAP offers a trained professional to confidentially assess your needs and provide referrals.
Travel Assistance Program
Travel Assist provides emergency travel assistance to eligible employees and their immediate family members who are traveling 100 or more miles from their legal residence or in a country other than their country of residence.
Retirement Plan
The King Pharmaceuticals, Inc. 401(k) Retirement Plan allows you to save up to 80% of income, or the IRS personal limit, whichever is less, on a pre-tax basis. This plan offers multiple investment funds to choose from, ranging from high risk to low risk. King Pharmaceuticals matches a portion of your contribution each pay period and in 2007, the company will contribute a match of 100 percent of the employee’s contribution up to 5 percent of the employee’s eligible compensation as defined by the IRS.
Adoption Benefit
Full-time employees pursuing the adoption of a child are eligible for assistance through the Adoption Assistance Benefit. The benefit reimburses up to a maximum of $6,000.
Tuition Reimbursement
King offers an education assistance benefit to help employees gain the skills needed to advance professionally and personally. Through this benefit, the company will consider the reimbursement of tuition and book costs for classes or degree programs deemed beneficial to both the employee and the company, in the employee’s present position or positions the employee may reasonably hope to attain in the foreseeable future.
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