Quest Diagnostics Benefits

Last updated: May 20, 2024
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Quest Diagnostics Benefits
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For anyone with a background in medical science, working at Quest Diagnostics is a great addition to their resume.

Many employees choose to work at companies with attractive employee benefits. Some even give more importance to benefits than higher pay.

So, are Quest Diagnostics benefits on par with their competitors? Or should you look elsewhere for a job? In this guide, you'll find the answer to these questions.

Quest Diagnostics benefits for employees: insurance and retirement

Quest Diagnostics offers several benefits to its employees, including insurance and retirement plans. These benefits are meant to help employees secure their financial future and protect them in the event of an unexpected illness or injury.

Health insurance

A National Health Statistics Report from the Centers for Disease Control shows that a significant portion of the US population under 65 does not have health insurance.

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Many people don't get insured due to the high costs of premiums, while others are simply unaware of the importance of having health insurance.

An employer-sponsored health insurance plan helps workers and their families pay for medical care. The plan can cover healthcare expenses, such as hospitalizations, doctor visits, and preventive care. Plus, it can help with the costs of prescription drugs.

Nowadays, many employers also offer a mental health program to ensure their workforce’s mental health concerns can be dealt with in the best way.

Dental insurance

Dental insurance plans may cover some or all of the costs of preventative care, primary care, major care, and orthodontic care. Orthodontic insurance plans may require a separate policy, rider, or endorsement.

Dental insurance typically covers two preventive care visits per year. These visits are essential for keeping your teeth and gums healthy and catching any problems early.

Quest Diagnostics offers dental insurance to its employees, allowing them to ensure their dental health.

Vision insurance

A vision insurance plan covers most of the cost of eye exams and eyeglasses or contact lenses. It may also cover the cost of vision therapy, often recommended for children struggling with their vision.

Some employers offer vision insurance as a benefit to their employees. For example, Quest Diagnostics offers vision insurance to its workforce.

Life insurance

Statista's report shows that life insurance ownership has increased in the U.S. in the past decade. In 2021, 52% of the US population had life insurance.

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While many people buy life insurance plans themselves, some also get employer-sponsored life insurance coverage. For example, Quest Diagnostics provides life insurance to its employees as one of the employee benefits.

Life insurance can be used as a financial safety net in case of an unexpected death.

Disability insurance

Disability insurance provides monetary benefits to policyholders who cannot work because of a disability. In addition, the policy can cover expenses such as medical bills and other costs associated with the disability.

There are two main types of disability insurance: short-term and long-term. Short-term disability insurance provides benefits for a set period, typically six months to two years.

Meanwhile, long-term disability insurance provides benefits for a more extended period and may even offer benefits for the rest of the policyholder's life. Quest Diagnostics provides disability insurance, securing the financial standing of their employees in case of a disability.

Occupational accident insurance

Occupational accident insurance provides benefits to employees who are injured in the course of their employment. The benefits can include medical expenses, income replacement, and death benefits.

In the event of an injury, employees should report the accident to their employer as soon as possible. Employees will then need to file a claim with the insurer.

It is one of the most notable Quest Diagnostics benefits for employees since the company covers most, if not all, of the policy's costs. If any of the employees are injured or harmed during their working hours, Quest Diagnostics will be the one to pay for the medical and hospitalization expenses, among others.

Accidental death and dismemberment insurance

An accidental death and dismemberment insurance (AD&D) policy pays benefits to the named beneficiary if the insured dies due to an accident. It also pays benefits if the insured loses a limb or sight in an accident.

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AD&D policies are often sold as an addition to a life insurance policy but can be purchased as a standalone policy. Quest Diagnostics offers its employees accidental death and dismemberment insurance in combination with a life insurance policy.

401(k)

Many employers offer 401(k) plans to attract and retain employees. 401(k) plans are retirement savings plans sponsored by an employer. Employees can have a certain percentage of their paycheck withheld and deposited into their 401(k) plan.

Employers often match a portion of employee contributions. For instance, an employer might match 50% of employee contributions up to 6% of pay. If an employee earning $50,000 per year contributes 6% of their salary, or $3,000, the employer will contribute an additional $1,500 to the plan.

476 of the Quest Diagnostics employees who posted their salaries on Payscale reported that the company offers a 401(k) retirement plan.

Other Quest Diagnostics benefits

While many employers only offer insurance and retirement perks, Quest Diagnostics has a comprehensive additional benefits package, including education and training, stock purchase plans, paid sick leave, and flexible spending accounts.

Flexible spending accounts

A flexible spending account (FSA) is a savings account that allows you to set aside money for medical expenses, child care, and other eligible costs. The money in your FSA can pay for eligible expenses up to the amount you have set aside.

There are two types of FSAs:

  • Healthcare FSA: You can use the money in this account for medical, dental, and vision expenses.

  • Dependent Care FSA: You can pay for child care or dependent adult daycare expenses.

A National Poll on Healthy Aging report showed that 27% of adults aged 50 to 80 did not have enough savings to pay for healthcare during 2020.

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An employer-sponsored flexible spending account can be a good intervention for this issue.

Quest Diagnostics benefits for employees include flexible spending accounts. Employees can also open a healthcare FSA to pay for medical expenses.

294 Quest Diagnostic employees who reported their salaries on Payscale said the company offers paid sick leave.

Paid sick leave is essential for employees because it provides them with a safety net in case they get sick. Thus, employees can take the time they need to recover without worrying about losing their income.

Paid sick leave also helps prevent the spread of diseases in the workplace, which is more important than ever in the wake of the pandemic.

Training and education

Many employers offer training and education programs to help employees improve their skills. Here are some examples of employee training programs:

  • Instructor-led training: In such programs, an instructor leads a group of learners through content, often using PowerPoint presentations, hands-on activities, and group discussions.

  • eLearning or online learning: eLearning can be asynchronous, meaning learners can complete the course at their own pace. Employees learn by completing modules or courses online.

  • Simulation employee training: If an organization wants to train its employees to use new software or equipment, it can develop simulations that let employees practice in a safe environment.

Quest Diagnostics is no different, with 248 employees reporting that the company provides training, tuition, certification, or education reimbursement programs.

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These programs are essential because they help employees keep up with the latest changes in their field. An employee mentoring program can also help employees learn new skills that make them more valuable to their employers.

453 of the employees reported Quest Diagnostics offers paid vacations. A paid holiday helps employees recharge and return to work with more energy.

Paid vacations also help improve employee productivity and creativity, as they have time to relax and rejuvenate. Nowadays, many employers are offering unlimited vacation days as a way to attract and retain top talent.

While it may seem like a paid vacation would be a huge financial burden for employers, it can actually save them money in the long run because employees do better work when they are well-rested.

Stock purchase plan

Employees can use the company's stock purchase plan to buy shares of Quest Diagnostics stock at a discounted price. It can be a great way to invest in the company and potentially make some money down the road.

Plus, it empowers employees, making them feel connected to the company since their stake in its success grows as the company's stock price increases.

Start your career at Quest Diagnostics

It's pretty evident that Quest Diagnostics is an employer that cares about its workforce. If you're looking for a company that offers excellent benefits and opportunities for career growth, Quest Diagnostics could be the right place.

Start looking for Quest Diagnostics jobs on Jobcase today to land a position as a sample collector, hospital account manager, dermatopathologist, and more.

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