Total Rewards

  • At Premera, we provide a competitive program of pay and benefits which we call Total Rewards. Our Total Rewards philosophy is to support our strategic direction by attracting and retaining contributors to our corporate visions with a competitive program of pay and benefits that is valued by our people and is based on sound financial decisions.

    Premera's goal is to build a culture of health for its associates and to pass our learnings to our customers through effective wellness products. So we offer a variety of wellness programs designed to put-and keep-you on the road to better health and give you the unique opportunity to test and shape our products.

    Employee Benefits

    Associates who work at least 20 hours per week are eligible for the following benefits. Eligibility generally begins the first of the month following the date of hire.

  • Medical plans

    Premera employees may select from two preferred provider organization (PPO) medical plans:

    • Health Savings PPO Plan (consumer-directed health plan)
    • Standard PPO

    Both plans cover the same services, including vision and prescription benefits. They both also pay a larger portion of the cost if you use a preferred provider. The difference is in how the plans pay for services.

    Dental plans

    Premera offers two dental plan options with different levels of coverage so you can choose the plan that best meets you and your family's needs.

    When you enroll in the Health Savings PPO Plan and are otherwise eligible, you can take advantage of a Health Savings Account (HSA) to pay for eligible out-of-pocket medical expenses with tax-free dollars, or to save for future medical expenses on a tax-favored basis.

    • Premera Blue Cross may make an annual contribution to this account on your behalf
    • You have the option of making pre-tax contributions to the account in addition to the employer contribution, up to the calendar IRS limits.

    Healthcare Flexible Spending Account

    You can contribute to this account if you're enrolled in the Standard PPO plan (or if you're waiving medical coverage through Premera). You can use these funds to pay for eligible out-of-pocket healthcare expenses with pre-tax dollars.

    Dependent Care Flexible Spending Account

    You use the Dependent Care Flexible Spending Account to pay for out-of-pocket day care or elder care expenses with pre-tax dollars.

    Limited-Purpose Flexible Spending Account

    If you're eligible to contribute to an HSA, you can also contribute to the Limited-Purpose Flexible Spending Account and use these funds for eligible vision and dental expenses.

    Employee life insurance

    Premera pays for a group life benefit in the amount of two times your eligible pay (rounded to the next highest $1,000), up to a maximum benefit for basic life of $700,000.

    Additional life insurance

    In addition to the employee life insurance coverage provided by Premera, you can choose to purchase supplemental (voluntary) life insurance coverage for yourself as well as for your dependents.

    Accidental Death and Dismemberment (AD&D)

    Employee Only and Employee and Family coverage options are available for this program.

    Premera offers both short term and long term disability programs to help protect your income if you are unable to work because of an injury or illness.

    Premera pays for a core level of disability coverage. You can choose to purchase increased levels of coverage under either of the programs.

    Premera offers two retirement programs which combine to help you meet your retirement planning needs.

    401(k)

    You may contribute up to 50 percent of your earnings on either a pre-tax or Roth post-tax basis, subject to annual IRS limits. Premera makes a matching contribution of 50 percent on the first 6 percent of the amount contributed, up to a maximum match of 3%.

    You're eligible to participate immediately upon hire and you become vested in the Premera's matching contributions after three years of service.

    The 401(k) has both an auto-enrollment and an auto-increase feature.

    Pension Equity Plan (PEP)

    The PEP is a defined benefit plan that's funded by Premera. Retirement benefits accrue in this plan based on your years of service and your earnings.

    You're eligible after 1 year of service as long as you are at least 21 years of age. Enrollment is automatic and begins either the January 1 or July 1 following your satisfaction of the eligibility requirements.

    You're vested in your PEP benefit when you have completed three years of service.

    If you’re hired to work at least 20 hours per week, you're eligible for PTO, a combined pool of time that includes vacation, personal days, and sick time.

    PTO is accrued each pay period; accruals begin upon hire.

    Years of service Days per year
    Up to 5 years 20
    5 years to 10 years 22
    10 years to 15 years 25
    15 years to 20 years 27

    Premera observes 8 holidays each year. In addition, employees can use one personal floating holiday per year to celebrate a day that’s not included in our company holiday schedule.

    2016 Company Closure Days

    Date Holiday
    January 1 New Year's Day
    May 30 Memorial Day
    July 4 Independence Day
    September 5 Labor Day
    November 24 Thanksgiving
    November 25 Day after Thanksgiving
    December 23 Company Designated Holiday
    December 26 Christmas (observed)

    Tuition Assistance Program -The Tuition Assistance Program pays 100 percent of your tuition costs (up to $2,000 for undergraduate and $5,000 for graduate degrees), lab fees, and required course-related textbooks for job-related courses. This benefit is available immediately upon hire.

    Training and development - Premera offers a wide variety of web-based and classroom training opportunities that build technical, interpersonal, team, and self-management skills.

    Employees have access to a wide range of personal services including confidential consultation on personal issues, legal assistance, financial planning resources, and identity theft restoration services.

    Wellness programs and resources are available at all of our campuses.

    Premera offers a monthly subsidy to encourage employees to find alternatives to the one-car, one-driver mode of transportation.