Employee Benefits
Hologic Gen-Probe offers a comprehensive benefits program providing you and your family with protection and security.All regular full time employees receive the following benefits:
401k Plan
Employee Stock Purchase Plan
Employee Bonus Program
Medical Insurance
Dental Insurance
Vision Insurance
Basic Life and Accidental Death & Dismemberment Insurance
Supplemental Life and AD&D Plan
Short Term Disability
Long Term Disability
Flexible Spending Accounts
Employee Assistance Program
Educational Assistance Program
Paid Vacation
Sick Leave
Holidays
Employee Events and Recognition
Wellness Program
Other Benefits: Work/Life Assistance Program, Discounted Ticket Program, Sitters & Caregivers Corporate Program, Auto & Home Discount Insurance Program, On-site Gym, On-site Car Wash, On-site Cafeteria
401(k) PLAN
A 401(k) Plan is one of the best ways employees can save for retirement. GenProbe provides eligible employees with an excellent 401(k) plan, generously matching 50% up to the first 6% of employees' contributions, subject to IRS limitations.
Employees can defer 1% – 100% of their salary, up to IRS limits, with these benefits:
- Tax savings on pre-tax contributions
- Tax-deferred earnings
- Choice of investment options
- Convenience of payroll deduction
- Flexibility to change investments & deferrals
- Access to savings through loan & withdrawal provisions
EMPLOYEE STOCK PURCHASE PLAN
This program provides regular, full time and part time employees the unique opportunity to purchase shares of Hologic Gen-Probe stock at a discounted price. Enrollment in this program takes place twice a year, in January and July. There are no fees associated with the purchase of stock in this program and there is no required holding period.
EMPLOYEE BONUS PROGRAM
Bonuses are a key component of Hologic Gen-Probe's compensation program and provide another
means, in addition to base salary, to provide performance-based compensation to employees
throughout the company. Hologic Gen-Probe's bonus programs reward employees for their individual
contributions as well as the financial success of the company.
MEDICAL INSURANCE
GenProbe provides all eligible employees with one of the most benefit-rich health insurance programs available.
Employees may select either a Basic Preferred Provider Organization (PPO) medical plan or a High Deductible Preferred Provider Organization medical plan (HD-PPO). The PPO plan pays for benefits provided by both network and non-network providers but services are subject to deductibles and co-insurance. Preventive services are covered at 100% with a $20 co-payment but major medical services are subject to a 15% co-insurance and deductible. The HD-PPO plan allows you to open a Health Savings Account and pays for benefits provided by both network and non-network providers. The calendar year deductible is $1,200 if you are enrolled in employee only coverage, and $2,400 if you are enrolled in family coverage.
These medical plans are self-insured by Hologic Gen-Probe. The company pays approximately 88% of the premium for eligible employees and their eligible dependents.
These medical plans-available on a national basis-include valuable prescription drug benefits with mail order privileges and low co-pays. Eligibility for the health insurance coverage begins immediately upon the date of employment.
DENTAL
GenProbe offers eligible employees Freedom of Choice dental plan, which means you may use the dental provider of your choice from which employees may choose their own provider.
The dental plan is self-insured by Hologic Gen-Probe. The employee has no additional premium cost for dental if enrolled in the medical plan; however, you may elect to enroll in the dental benefits and decline medical and vision benefits.
Eligibility begins immediately upon the date of employment.
VISION INSURANCE
The vision benefits are administered by Vision Service Plan (VSP). You may use any vision provider for vision care; however, VSP has a national network of optometrists and ophthalmologist in their PPO network.
The vision plan covers one exam every 12 months; eyeglasses or contact lenses are allowed every 24 months.
Eligibility begins immediately upon the date of employment.
LIFE INSURANCE/AD&D
As a regular, full-time employee of GenProbe, you are covered by a companypaid Life/Accidental Death & Dismemberment Policy. The benefit of this policy is equal to one times your annual base salary.
This valuable policy includes accelerated benefits, survivor support & financial consulting for beneficiaries. Unlike many other corporate life insurance policies, this protection is fully portable-allowing you to take it with you when you leave Hologic Gen-Probe.
Employees also have the option of buying additional life insurance* and voluntary accidental death & dismemberment insurance at very competitive rates.
*Up to a designated amount
SHORT TERM DISABILITY
The Short Term Disability insurance plan provides full-time employees with a source of income should they become unable to work due to a non-occupational disability. The company pays the full cost of the premium for this benefit. You become eligible for coverage on your date of hire.
Short Term Disability benefits are reduced by any other disability benefits to which you may be entitled, such as Social Security, State Disability and similar programs.
LONG TERM DISABILITY
If you are unable to work for more than 90 days due to qualified disability, GenProbe provides its regular, full time employees with a generous long-term disability insurance plan.
An employee is eligible for LTD the first day of the month following 90 days of continuous employment.
Income from the LTD policy is offset by funds received from social security, workers' compensation, and other similar programs.
FLEXIBLE SPENDING ACCOUNTS
Unreimbursed medical/dental expenses, dependent care costs, and certain transportation expenses can be paid with pre-tax dollars through participation in GenProbe's Section 125 Plan. Employees annually allocate a portion of their pretax pay for qualified expenses.
There is no charge to participate in this valuable plan. Those who decide to participate realize more disposable income.
EMPLOYEE ASSISTANCE PROGRAM (EAP)
At times, employees may encounter personal difficulties that can affect your relationships, job performance, and physical health.
GenProbe realizes this and provides its employees-both regular full time and part time employees-with professional, confidential initial counseling services at no cost to you.
This valuable assistance is available 24 hours a day, seven days a week to both the employee and members of the employee's household.
Licensed clinical professionals offer counseling in a wide range of concerns including: relationship & family difficulties, personal problems, stress, work conflicts, alcoholism, & drug abuse.
EDUCATIONAL ASSISTANCE PROGRAM
GenProbe promotes and encourages the professional growth of its staff through continuing education. Full time employees may be reimbursed for registration fees, tuition costs, and required textbooks up to $2,000 per calendar year for undergraduate classes and up to $5,000 for graduate classes.
This financial support is provided for specific courses and educational skills that will enhance an employee’s current or future work-related abilities at GenProbe.
Regular, full time employees are eligible for Education Reimbursement after six months of service.
ANNUAL PAID VACATION
Our vacation plan is designed to provide you with the opportunity to rest and get away from the everyday routine. If you are a regular, full-time employee or part-time employee, you accrue vacation on a bi-weekly basis. Extended part-time employees (working 32-39 hours per week) will accrue vacation at 80% of the full-time employee accrual rate. Part-time employees (working 20-31 hours per week) will accrue vacation at 50% of the full-time employee accrual rate.
SICK LEAVE
Regular, full-time employees accumulate one day of sick time per calendar month. A maximum of 20 sick days can be accumulated.
HOLIDAYS
- New Year's Day
- President's Day
- Memorial Day
- Independence Day
- Labor Day
- Thanksgiving Day
- Day after Thanksgiving
- Christmas Eve
- Christmas Day
- New Year's Eve
- Company Designated Floating Holiday
- 1 Personal Holiday
EMPLOYEE EVENTS AND RECOGNITION
To further recognize our employees for their hard work & dedication, we provide the following:
- Exceptional Performance Awards
- Holiday Party
- Summer Picnic
- Wellness Program
- Service Awards
- Quarterly Business Review Meetings
WELLNESS PROGRAM
Hologic Gen-Probe is building The Power of Wellness by encouraging, recognizing and rewarding behaviors focused on adopting and maintaining a balanced and healthy lifestyle. Our Wellness Committee developed a points system to reward employees for recording their fitness, wellness and nutritional activities. Employees receive financial awards as they reach milestone levels and are entered in a drawing for a trip at the end of the year! As a part of the Wellness Program, experts have spoken to our employees about topics such as Nutrition, Hearth Health, Diabetes, Financial Stress and Skin Cancer.