U.S. Benefits

Health Care

Abbott's medical, dental, and vision care plans are designed to provide employees and their eligible dependents with options so they can elect the health care coverage that best meets their needs. In addition, Abbott sponsors a number of wellness programs and resources that are designed to promote overall health and well-being.

Medical

Everyone's health care needs are different. That's why Abbott offers a wide range of medical options that allow employees to choose the one that is best for them and their families.

Our medical options are designed to provide employees and their eligible family members (including domestic partners) with extensive coverage and protection against major medical expenses.

All of the options cover preventive care, inpatient and outpatient care, routine office visits, prescription drugs, physical therapy, home health care, mental health/substance abuse treatment, and hospice care. In addition, our medical options offer numerous programs and services that can help you improve and maintain your health, better manage illnesses and receive better value for your health care dollars.

Dental

Our dental options help employees pay for the costs of dental care for themselves and their eligible family members. Participants may take advantage of reduced out-of-pocket costs when they use dentists in a nationwide network of participating providers. Our dental options pay for preventive, restorative, and surgical services, as well as orthodontia, at varying levels of coverage.

Vision Care

With our vision care plan, we offer employees an affordable way to maintain eye health and receive discounts on eyewear.

Wellness Programs

Abbott's wellness programs and resources are designed to promote overall health and well-being:

Seminars and online resources on health-related topics, including stress management, nutrition, safety and balancing work and family needs.
Health promotion programs on topics such as diabetes, cancer and weight management.
On-site screenings and immunizations at some locations to promote disease awareness and early detection.
On-site fitness and rehabilitation centers at some locations that offer professionally supervised programs, including aerobics classes, fitness assessments and rehabilitation services.
Discounts to local fitness facilities.
Health fairs and fitness events.

Flexible Spending Accounts

Abbott's flexible spending accounts (FSAs) give employees the opportunity to set aside money on a pre-tax basis for eligible anticipated out-of-pocket health care expenses and dependent care expenses.

Health Care Flexible Spending Account

Employees can set aside up to $5,000 per year for reimbursement for eligible out-of-pocket health care expenses (such as copayments for office visits, prescription drugs, some over-the-counter drugs, contact lenses, eyeglasses, orthodontia and hearing aids) through the Health Care FSA.

The plan offers an FSA Debit Card, which makes it easy to spend your health care FSA dollars. The FSA debit card pays directly from your FSA, so you don't have to pay the expense out of your pocket, file a claim and wait for reimbursement.

Dependent Care Flexible Spending Account

Employees can set aside up to $5,000 per year for reimbursement of eligible child care or elder care expenses through the Dependent Care FSA.

Cash Profit Sharing

Abbott employees are eligible to participate in the Cash Profit Sharing (CPS) plan. CPS awards a percentage of eligible pay to employees in acknowledgment of their contribution to Abbott's success. This percentage is based on achieving our forecasted ongoing earnings per share (EPS) through the first three quarters of the year (the CPS plan year is October 1 through September 30). If we achieve the EPS, employees get 7 percent of their base pay as their CPS payout. If we do not achieve the EPS, employees will get 5 percent, as long as Abbott is profitable. In 2008, the CPS award was 7 percent, about 3 ½ weeks of regular pay.

If you are an active participant in a different Abbott incentive compensation plan, you may receive your annual incentive payment in lieu of a Cash Profit Sharing check.

Abbott is one of few companies that offer cash profit sharing in addition to 401(k) and a pension plan.

Retirement Benefits

Many companies offer employees the opportunity to participate in a 401(k) plan or a pension plan. Abbott gives you both. We call them our stock retirement plan and our annuity retirement plan.

Stock Retirement Plan

This savings plan with 401(k) features allows employees to contribute from 2 percent to 18 percent of their salaries on a pre-tax, after-tax or Roth 401(k) basis, subject to limits under federal law. Participating employees can choose to invest their contributions in various investment options with different levels of risk. In addition, the company contributes an additional 5 percent of pay when employees contribute at least 2 percent. Employees may enroll immediately after joining Abbott and are completely vested in any company contributions after two years of service.

Annuity Retirement Plan

Abbott pays the entire cost of this pension plan. Employees participate automatically as of their hire date or the date they reach age 21, whichever is later, and are completely vested after five years of service.

*These benefits may differ based on location and business unit.

Adoption Assistance

Abbott reimburses up to $10,000 for eligible expenses related to the successful legal adoption of a child (other than a family member). Up to two weeks of paid time off is also available for legal, travel or bonding needs related to the adoption.

Work-Life Programs

Child Care Solutions

At Abbott, our people pipeline is just as important as our product pipeline, and our investment in child care is one part of our commitment to helping employees manage — and more importantly integrate — their personal and professional lives.

Our support of quality child care alternatives is an important investment in our continued success as a company. When we invest in our young people — in the early years — we're really investing in a skilled and innovative future workforce.

Abbott offers several programs and resources to increase the availability and improve the quality of family child care alternatives in the communities where our employees live. Our programs include both center-based and home-based child care.

Child Care Programs for Abbott Employees
Teacher Training and Community Development

Employee Assistance Program (EAP)

The EAP is a free, confidential benefit program for employees and retirees (age 65 and under) and their dependents. The EAP provides easy access to a behavioral health professional who can offer individuals and their families support and direction with personal concerns.

The EAP offers a range of services, at no charge, including problem assessment; short-term counseling (up to six sessions); information about and referral to community resources and treatment programs; educational materials; and follow-up. EAP professionals also provide consultation to managers and supervisors; crisis intervention; and educational/training sessions.

Abbott's EAP also includes legal referral services for employees, retirees age 65 and under, and their eligible dependents.

Legal Referral Services

Offered through Abbott's Employee Assistance Program, this benefit is available to Abbott employees and retirees (age 65 and under) and their eligible dependents. It provides individuals with one free consultation, up to 30 minutes, for three separate legal matters per year, as well as a reduced rate on the general fee schedule of the network firm.

Mothers At Work

The Mothers At Work Program is designed to help female employees decide whether breastfeeding is an option for them, help them get started, and ease their transition back to work. All Abbott employees may access educational materials and discounts on breast pumps, and female employees are eligible for free counseling from board-certified lactation consultants 24 hours a day, seven days a week.

Recreation and Sports Activities

There's something for everyone in Abbott's Recreation and Sports Activities program. Abbott employees can participate in a number of company-sponsored activities with fellow employees. Available sports vary by site and may include bowling, basketball, golf, volleyball, softball, skiing, tennis and bingo. For those employees with interests outside of sports, Abbott offers a number of clubs that allow them to share these common interests — including traveling, gardening, jazz music, fishing, foreign languages and camping. Activities vary by location.

Transit Reimbursement Incentive Program

This benefit allows employees who commute by public transit or van pool to pay for transit expenses with money deducted from their paycheck before federal, state and local taxes are applied. By participating in this program, employees can reduce their commuting expenses and taxable income, increasing their spendable income.

Tuition Assistance

Abbott provides ongoing opportunities and support for employees to learn and grow. Employees (including newly hired employees) with at least one year of full-time post-undergraduate business experience can take advantage of Abbott's generous tuition assistance program. This program reimburses employees for business-relevant classes at 100 percent up to $5,250 per year for undergraduate classes and $7,000 per year for graduate classes.

Work-Life Resources

Work-Life Resources is a free resource and referral service that provides Abbott employees, retirees (age 65 and under) and family members with confidential consultation on a variety of topics. Topics include parenting, caregiving, schooling and education, everyday convenience services, basic financial issues, coping with disabilities and resources for seniors. Individuals also have access to online services, CD ROM programs, educational kits, and a wide range of publications on work-life issues.

Vacation and Holidays

Abbott realizes that everyone needs time off to relax and recharge. So we offer our employees generous vacation time — three weeks per year for new employees (prorated in the first year, based on date of hire) — and 11 paid holidays each year. Specific holiday schedules vary, depending on local practices.

Sick Pay and Medical Leaves

Abbott's sick pay and medical leave programs provide compensation for eligible employees who are unable to work due to illness, injury, or pregnancy. At many locations, medical leave management programs also help ensure that employees receive appropriate medical and rehabilitative care and facilitate their successful return to work whenever possible. Additionally, Abbott employees may use a portion of their sick pay benefit to care for a sick child.

Paternity Leave

Abbott understands that it's important for fathers to care for and spend time with their newborn children. That's why we offer paternity leaves for new fathers. Paternity leave is available to male employees upon the birth of their biological children. Male employees are eligible for up to two consecutive weeks of paid leave within the first 15 weeks after their child's birth, to care for the newborn child.

FMLA

Sometimes it's necessary for an employee to take time off from work, either due to a serious illness (when sick pay benefits have been exhausted) or to care for a newborn, parent, spouse or child who becomes seriously ill. To help meet these needs, the Family Medical Leave Act (FMLA) of 1993 provides up to 12 weeks of unpaid, job-protected leave in a 12-month period, if eligible, to care for your family or yourself for specified family and/or medical conditions.

Extended Disability Plan

Abbott's Extended Disability Plan is designed to provide continuing income for employees who are unable to work due to illness or injury. Under this plan, eligible employees who are scheduled to work at least 32 hours per week and who are absent from work as a result of a qualifying illness or injury for more than six months may receive a salary-based monthly disability benefit.

Insurance

Life Insurance

Abbott offers basic life insurance equal to 100 percent of base annual pay at no cost to employees. Employees also may purchase supplemental and dependent life insurance.

Accidental Death and Dismemberment Insurance

Abbott offers coverage of $10,000 at no cost to employees for accidental death or dismemberment. Employees also may purchase supplemental and spousal insurance coverage.

Travel Accident Insurance

Abbott pays the entire cost of this benefit for employees traveling on Abbott business anywhere in the world. The insurance provides accidental death and dismemberment benefits equal to five times employees' annual base salary, with a minimum coverage of $100,000, and a maximum coverage of $1 million.

Long-Term Care Insurance

Abbott's long-term care insurance program provides employees, retirees, and their eligible family members with access to extended care when a covered individual has an ongoing illness or disability and cannot care for him or herself. Most costs associated with long-term care are not covered by traditional medical plans. Participants pay the full cost of this insurance.

The information contained in this section describes some of the benefits Abbott offers to U.S. employees working a schedule of 20 or more hours per week. Part-time and temporary employees are also eligible for certain benefits.

Abbott reserves the right to change or end its benefits plans or programs at any time. The information provided in the Abbott Benefits section of this Web site is not a summary of the plans or policies or a description of their key features or details. In case of any conflict or question, the official plan documents or applicable policies, as amended from time to time, will govern.