Jobcase Team
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Posted July 16, 2021

CVS employee benefits

Learn about the CVS benefits you could be entitled to and how to get started!
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A job at CVS comes with a number of benefits to support both you and your family. Here is a guide to everything you need to know about CVS and the employee benefits they offer!

There are health benefits, financial benefits, and career benefits available to those who meet the minimum eligibility requirements. And there are a few unique perks that you only get when you work at CVS.

What is CVS?

CVS Health owns CVS Pharmacy. CVS Health is a large enterprise that also owns the pharmacy benefits manager CVS Caremark, the health insurance provider Aetna, and other health brands.

CVS first began in Lowell, Massachusetts, back in 1963. The company headquarters are now in Woonsocket, Rhode Island. CVS Pharmacy is a large pharmacy retail chain that sells a range of health and wellness products. Customers can collect their prescription drugs and purchase over-the-counter medication.

It's a one-stop shop with much more than just pharmaceutical supplies. For example, you can also buy cosmetics, fitness aids, snacks, and laundry essentials. You can even buy milk or get your photos printed.

Why would you want to work at CVS?

Consumer Value Store (CVS) has over 9,900 retail pharmacy outlets across the U.S. and Puerto Rico. If you're thinking about applying for a job at CVS, there's likely to be a position available near you.

CVS is a socially responsible company. CVS values its employees and has a reputation for being both inclusive and diverse. If you work full-time at CVS, it comes with a range of employee benefits and perks, including a health plan, paid time off, and an employee discount.

There's a range of areas where you could work, including distribution, retail, customer service, beauty, corporate, or pharmacy. And positions can be full-time, part-time, or seasonal. CVS even has internships available for new graduates.

The company regularly hires customer health care concierges, call-center staff, pharmacy technicians, cashiers, apprentices, and more.

Some positions are entry-level, so it's a good place to start if you want a rewarding career in health.

You can browse CVS jobs to see what roles your closest store is recruiting for.

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What benefits do CVS Pharmacy employees receive?

If you’re considering applying for a job at CVS, you may be curious about the types of benefits that you could be eligible for.

Let’s take a look at the health, financial, and career benefits CVS employees can receive:

Health benefits

Let’s first take a look at the common CVS health benefits.

Health insurance

If you work at CVS and meet the minimum requirements, you’ll have a choice of three health insurance networks. You can expect coverage for general medical, preventive care, and reduced-cost prescription drugs.

Plus, you’ll get dental insurance and a choice of two vision coverage options for your glasses or contact needs.

You can save money when you use an in-network provider, and there are supplementary plans available that come with cash benefits.

Flexible spending account (FSA)

Did you know you can use your pre-tax dollars for unexpected health expenses? With a flexible spending account, you can set aside some of your income and use it for healthcare.

Your health savings account can be for you, your spouse, and any dependents you may have.

Wellness

CVS knows that healthy employees are happy employees. The company offers a range of optional wellness initiatives to help you maintain your mental and physical health.

For example, there’s the Strive Wellbeing Program. It supports you in different ways depending on your health goals. You could get assistance with weight management, access health screenings, get a flu shot, or receive fitness coaching.

And there’s a digital mental health hub that’s customized to each employee and their families. It’s free, and you can get six counseling sessions per year.

Financial benefits

Let's take a closer look at the three types of financial benefits that CVS employees receive:

Retirement

To help you be more comfortable when you retire, CVS offers a generous 401(k) plan with a company match.

Depending on your eligibility, you can set aside up to 85% of your pre-tax pay. Or you can use the Roth IRA option and contribute after paying tax:

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Unexpected life events

CVS employees may be entitled to income protection. For example, there are company-paid short-term and long-term disability benefits.

If you have an accident leading to disability, you may be eligible for accident insurance. You'll get up to 60% of your base pay.

You can receive coverage for up to 26 weeks if it’s a short-term injury or up to 24 months if it’s a long-term injury.

You’ll also have access to a basic life insurance policy. You can upgrade to a more comprehensive plan if you want additional coverage.

Paid time off

Depending on hours worked and job type, you may be entitled to paid time off (PTO).

You’ll also get three paid days off if someone in your immediate family passes away. And if you get selected for jury duty, CVS will make sure you’re not out-of-pocket.

Employee discount

If you work at CVS, you’ll get an employee discount card that you can use at any CVS pharmacy store. You’ll get up to 30% off name-brand products and 20% off everything else.

You’ll also get 20% off when you shop at cvs.com and earn points on every purchase.

Career benefits

Let’s take a look at common career benefits that CVS employees receive:

Work experience

You can gain valuable work experience at CVS. If it’s an entry-level position, you’ll receive on-the-job training and work closely with a mentor.

All employees have access to ongoing support and opportunities for career growth.

As an equal opportunity employer, CVS also helps mature workers and veterans return to the workforce.

Education

CVS values your education and offers limited apprenticeships and internships.

If you’re studying and working full-time, you may get some reimbursement on your education costs. The course will need to be relevant to your role at CVS.

You may also have access to CVS’s student loan refinancing program.

What are some of the unique CVS employee benefits?

There are some other benefits that you may not receive if you work elsewhere.

CVS offers grants to help employees who are facing hardship and provides a free flu shot on-site, once per year.

Since 2014, CVS has stopped stocking tobacco in its pharmacies. As a company committed to reducing the harm caused by tobacco, CVS supports employees who want to quit smoking and using tobacco with personalized programs.

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CVS also offers health screenings, weight-loss programs, and reduced-cost medical checks!

What is the CVS benefits eligibility timeline?

To be eligible for most CVS employee benefits, including income protection, you’ll need to work for at least 30 hours each week. You’ll also need to have been employed by the company for at least 90 days.

To access the 401(k) or Roth IRA retirement plan, you’ll need to work for a minimum of 1,000 hours or a minimum of 12 months. This plan is available to both full-time and part-time employees.

A breakdown of CVS employee benefits

​If you're looking for a new job, consider applying at CVS. As a large pharmacy retailer, you'll have access to a range of benefits and career opportunities.


Are you ready to apply to CVS?

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