Benefits and perks at CarMax

Below is an overview of the various benefits that CarMax employees receive. Most benefits start on the first day of employment.

Healthcare benefits

• Counseling

A superb counseling program enables CarMax team members to talk with experts 24/7. Employees can receive practical fitness and nutritional tips, talk about their problems, and learn effective techniques for dealing with stress and anxiety. Team members can count on confidentiality at all times.

• Dental Plan

CarMax cares about its team members’ dental health so it offers an exceptional dental plan for employees and their family members that fully covers all sorts of preventative dental care as well as reconstructive surgeries and other orthodontia services.

• Health insurance

CarMax offers a first-class health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.

• Health plan incentives

In an effort to improve the wellbeing and quality of life of its team members, CarMax offers great health plan incentives for its employees. Employees have at their disposal various resources through which they can learn about their health and how to improve it.

• Healthcare spending accounts

CarMax has a superb healthcare spending account available for their team members. Funds that are placed there are tax-free and can be used for medical necessities. Whatever money is left in the account at the end of the year is automatically carried over to the next year.

• Maternity support program

CarMax offers an outstanding maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.

• Vision

CarMax offers a solid Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.

Financial benefits

• 401(k) plan

CarMax knows how important it is to think about retirement and start saving on time. That’s why it offers a suitable 401(k) plan that enables every team member to build a decent retirement fund at their own pace. Team members are allowed to put aside up to 4% of their salary and CarMax will match 50% of it. The employees can choose from multiple investment plans, according to their wishes and lifestyles. For those who are not sure about their investment options, CarMax provides resources which will help team members decide what to do with their 401(k) plan. CarMax offers a suitable vesting schedule with a gradual increase of 25% per year.

• Adoption Assistance Reimbursement

CarMax has a suitable Adoption Assistance Reimbursement program that pays certain fees associated with the adoption process. With this program, the employees can rest assured that at least some of the costs will be covered.

• Bonus pay

CarMax has an excellent bonus plan. It makes sure that hardworking team members are properly rewarded for their individual contribution to projects as well as their cooperation with other team members.

• Childcare discount

CarMax has an impressive childcare discount policy for its employees and offers attractive rates for eligible childcare centers.

• Commuter benefits

CarMax has a suitable commuting policy and offers commuter benefits that allow eligible team members to cover their transportation or parking costs up to a certain distance from the place of work.

• Daycare flexible spending account

CarMax offers an outstanding daycare program for its employees. Team members can withdraw funds from a flexible spending account to cover all sorts of expenses related to daycare or eldercare.

• Disability

CarMax has a good disability program in place that takes care of team members who sustained an injury or suffer from an illness that causes them disability. Eligible team members are offered good coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.

• Life insurance

CarMax offers an outstanding life insurance program. It is one of the best in the country and offers free life insurance for team members. The policy pays up to three years worth of salary to beneficiaries. This outstanding life insurance package contains dependent policies as well.

• Paid time off

CarMax realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That’s why CarMax has a superb vacation program for its employees with a reasonable number of days that can be spent anytime.

• Paid volunteer time off

CarMax believes that excellent volunteer time off programs not only strengthens their brand but it also attracts the highest quality of employees. That’s why CarMax offers its team members up to 50 hours of paid volunteer time off.

• Parental leave

CarMax has an excellent parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.

Career benefits

• Career planning

CarMax offers remarkable possibilities for career planning to its team members. Whether it’s an expert position or an entry-level position, CarMax makes sure that every single team member takes the full advantage of remarkable career planning programs.

• Development resources

Impressive development resources are what allows CarMax to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in impressive workshops and learning groups with the focus on topics relevant to their respective fields.

• GED Reimbursement

CarMax has a remarkable policy when it comes to GED reimbursement and participates with 1/2 of the costs.

• Leadership programs

CarMax offers a wide variety of superior courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by CarMax to grow as leaders and learn how to make tough calls.

• Onboarding

Whether the newcomer is an entry-level employee or a seasoned manager, coming to a new place of work is never easy. That’s why CarMax offers an extraordinary Onboarding program to help new employees understand their role and cooperate with the rest of the team.

• Recognition programs

Aware of the fact that its team members work hard, CarMax implemented a valuable Recognition program with informal rewards to make sure the team members know they are appreciated.

• Tuition reimbursement

CarMax has a remarkable Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee’s current or future role at CarMax.