GEICO Employee Benefits and Discounts. GEICO, or Government Employees Insurance Company, is an American vehicle insurance company notable for its property and umbrella policies.
Based in Maryland, it is a Berkshire Hathaway wholly-owned business that employs over 40,000 people throughout the United States and insures more than 24 million automobiles.
In the eyes of GEICO, workers are their most valuable resource. Workers will get recognition and compensation for their hard work and devotion as a result of the company’s guarantee.
GEICO’s Total Rewards Program includes a wide range of perks, discounts, and opportunities for workers and their dependents.
The following list of GEICO perks for employees might be helpful whether you’re seeking for employment at the insurance company or already work there.
Geico Associate Benefits
Employees at GEICO, from interns and new hires to seasoned veterans, are encouraged and supported in their career development.
Employees and their dependents may take advantage of a comprehensive Total Rewards Program that includes a variety of rewards, discounts, and opportunities.
With GEICO Employee Benefits, you can safeguard your financial future while also preserving the health and well-being of your employees.
All aspects of an employee’s physical, emotional, financial, and social well-being are covered by GEICO benefits. Additionally, GEICO offers Employee Discounts in order to assist workers be more productive and happier both in and out of the office.
This guidance is especially important if you’ve just joined GEICO, or if you’re unsure about your advantages and privileges at the insurance company.
Health & Well-Being at Geico
Medical, Dental & Vision Insurance
- There are two GEICO self-insured medical plan alternatives and certain fully-insured HMO plan options available in select places.
- Medical insurance from GEICO provide virtual appointments at cheaper copayments than a doctor’s visit.
- X-rays, lab testing, and fluoride treatments are all covered with no cost or coinsurance for two complete dental plans. Oral therapies and orthodontic services are also covered.
- For example, a comprehensive vision plan covers everything from frames to lenses to contact lenses to eye checkups that include dilatation.
Flexible Spending Account
- Using a Health Care Flexible Spending Account (FSA), an employee may put aside pre-tax money each year to pay for medical expenditures not covered by insurance.
- In order to pay the costs of child and elder care, an employee might use the Dependent Care (Day Care) FSA.
Life, Disability, and Accident Insurance
- When an employee is hired, the company automatically provides basic term life insurance coverage equivalent to 50% of the employee’s entire base salary.
- A maximum of $1,500,000 in combined Basic Life and Optional Term Life insurance may be obtained for an associate. 6.5 times the associate’s total base salary can be purchased for Optional Term Life insurance.
- Additionally, employees and their qualified family members may take advantage of low-cost Voluntary Group Accident Insurance (Accidental Death & Dismemberment).
Finance and Retirement at GEICO
Traditional & Roth 401(k) Plans
- At a pre-tax rate of four percent of qualified earnings, you will be enrolled in the Plan.
- Both pre- and post-tax donations are possible for associates.
- Vanguard.com or Vanguard’s VOICETM Network may be used by associates to manage their accounts.
- Eligible colleagues are rewarded for policy growth and underwriting success under this plan.
- Direct deposit of any corporate contribution up to 10% of eligible profits and any profit-sharing award in excess of 10% of eligible earnings are paid to the associates (unless an eligible associate elects to defer a portion of the profit-sharing cash payout).
- Associates must complete service criteria in order to be eligible.
- Profit-sharing is not a guaranteed benefit, and past success is not indicative of future outcomes.
GEICO Federal Credit Union
- On-site banking and ATMs are available for your convenience.
- Insured accounts are available to associates.
- All of these types of loans are available at low interest rates.
Education and Training
- To continue their education after completing their bachelor’s degree, eligible full-time associates may enroll.
- Reimburses up to $5,250 per calendar year and covers application fees, tuition, course-related charges, and applicable textbook costs.
- E-learning and instructor-led courses are available from GEICO.
- Class offerings include everything from the basics of project management and presentation abilities to the intricacies of business writing to Six Sigma training.
Paid Training and Licensures
- Sales, customer service, claims and damage to automobiles are among GEICO’s best-paid training programs.
- The corporation covers the costs of licensing and ongoing education for all of its employees.
Family and Leave
Paid Vacation, Holidays, and Leave
For the first five years of an associate’s employment, vacation and sick leave accumulate at 10 days per year; paid time and leave varies for management-level associates.
GEICO offers 10 weeks of paid parental leave to help new moms and dads heal after the birth of their children or to help them connect with their adopted ones.
In order to qualify, associates must be working full-time and have been employed for at least a year with GEICO.
Additionally, employees are entitled to an extra six days of paid vacation.
Additional floating vacations for employees are also available, totaling four (earned one per quarter).
Associate Assistance Program
- Provides free legal, debt, and financial services to colleagues and family members who are continuously resident at their home.
- Counseling is provided for a variety of issues, including stress and worry.
- GEICO’s AAP offers up to three free sessions of phone or in-person therapy.
Dependent Care, FSA & Adoption & Fertility Assistance
For each adoption, GEICO will provide up to $5,000 in financial help to the adoptive family.
As part of our self-insured medical plans, GEICO provides a lifetime prescription medication benefit of $10,000 as well as a medical plan benefit of $25,000 to cover the cost of reproductive treatment and services.
Infertility treatment options include in vitro fertilization (IVF), artificial insemination, medicine provided to address the condition, and even surgery if it is indicated by a doctor.
It is possible for GEICO colleagues to utilize pre-tax cash to pay a wide range of child and elderly care costs.
When married, but filing separate taxes, the maximum Dependent Care FSA contribution is $2,500, whereas the maximum contribution of $5,000 is available to all employees ($2,000 if categorized as a highly paid associate).
GEICO Employee Discounts
Federal Employee Discount (Eagle Discount)
There is an Eagle Discount of up to 12% on your total vehicle insurance price if you are a federal employee, current or retired. Check out the Eagle’s Discounts page (available in most states).
Membership and Employee Discounts
Insurers may give you a discount if you join to one of the more than 500 organisations mentioned below.
It’s our hope that you’ve found this information about GEICO Employee benefits and discounts to be helpful.
If you are unable to access any of the above GEICO HR or employee hotline numbers, please contact us.