What is the average benefit package

Benefits combined are worth about 30 percent of your total compensation package, according to the U. Department of Labor.

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Phone Customer Login. Benefits were divided into the following categories: Insurance - 8. Of these three types, employers contribute the most to health care. According to the Bureau of Labor Statistics, 8.

Legally Required - 7. Paid Leave - 6. Typically, dental coverage pays for half of certain procedures, as well as for preventative care, up to a certain limit per family member per year. Some dental coverage also includes benefits for orthodontics. Purchasing this insurance as individual policies would be quite expensive. Supplemental term coverage is often available for a low, additional cost. The imputed value of coverage over that amount will show up on your W The employer contribution adds up to 7.

When you are retired and draw Social Security and utilize Medicare for health insurance, know that your employers were partners in getting you there. Depending on how much you contribute, that can add up to thousands in discounts annually.

Remember that your discount is taxed like income and taxes are withheld on it from your paycheck. Reimbursement levels may depend on your grades. See the IRS guidelines here. As organizations move towards results-focused metrics of success, the importance of clocking in from every day has dwindled. In conjunction with work-from-home options , expect this perk to continue increasing in popularity. Severance packages. While not exactly a benefit an employee ever hopes to need, a severance package is a good safety net that everyone appreciates.

Severance packages are not required by any federal laws. Still, some states Idaho, Maine , Massachusetts, and Rhode Island do mandate certain practices depending on the notice an employee receives when being laid off. Severance packages typically offer continued pay or a portion of it for a predetermined length of time. Create My Free Resume Build a professional resume in minutes.

For instance, a recent college graduate may value tuition reimbursement more than a generous healthcare plan, while a working mother may consider health insurance the most essential benefit. No matter who you are, or what priorities you have, understand that an employee benefits package is a crucial factor in understanding your total compensation. Vote count:. No votes so far! Be the first to rate this post. Matthew Zane. He is a teacher, writer, and world-traveler that wants to help people at every stage of the career life cycle.

Topics: Benefits. By Matthew Zane - Jan. Articles In Guide. Determine Your Worth. Get A Raise. In This Article. What Is an Employee Benefits Package? Are you looking for job opportunities? Tell us your goals and we'll match you with the right jobs to get there.