BENEFITS

Our medical options provide employees and their eligible family members, including domestic partners, with extensive coverage and protection against major medical expenses. Coverage is available from the first day of employment.

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

Our dental plan helps employees pay for the costs of dental care for themselves and their eligible family members. Coverage is available from the first day of employment.

Participants may take advantage of reduced out-of-pocket costs when they use dentists in a nationwide network of participating providers. Our dental plan pays for preventive, restorative and surgical services, as well as orthodontia, at varying levels of coverage.

With our vision care plan, we offer employees an affordable way to maintain eye health and receive discounts on eyewear. Coverage is available from the first day of employment.

Our flexible spending accounts (FSAs) give employees the opportunity to set aside money on a pre-tax basis for eligible out-of-pocket healthcare expenses and dependent care expenses. Coverage is available from the first day of employment.

Employees can contribute up to the annual IRS maximum per year for reimbursement for eligible out-of-pockets healthcare expenses (such as co-payments for office visits, prescription drugs, contact lenses, eyeglasses, orthodontia and hearing aids) through the healthcare FSA.

Additionally, employees can set aside up to $5,000 per year for reimbursement of eligible childcare or elder care expenses through the dependent care FSA.

Our health savings account (HSA) can be used to pay for eligible healthcare and prescription drug expenses. Employees can make pre-tax contributions to the HSA, up to the annual IRS maximum. Abbott also contributes to the account annually ($200 employee-only/$400 family).

Employees can use the account to pay the annual deductible and coinsurance or continue to grow the savings account to use in retirement.

Our wellness programs and resources are designed to promote overall health and well-being:

• Seminars on stress and anxiety, personal and work relationships, meditation and mindfulness, healthy habits, and balancing work and family needs
• Programs to encourage being physically active, eating healthier, managing health conditions, getting quality sleep, and becoming more resilient
• On-site screenings and immunizations at some locations to promote prevention and early detection
• On-site fitness centers at some locations that offer professionally supervised programs, including aerobics classes and fitness assessment.
• Health fairs, fitness events, steps challenges, and exercise competitions

We believe in rewarding employees for their contributions to the company's financial success. We offer various incentive programs for all levels of employees.

We offer basic life and accidental death insurance at no cost to employees. Employees also may purchase supplemental and dependent life insurance.

We pay the entire cost of this benefit for employees traveling on Abbott business anywhere in the world.

Our long-term care insurance program provides employees, retirees and their eligible family members with access to extended care when a covered individual has an on-going illness or disability and cannot care for him or herself. Participants pay the full cost of this insurance.

This savings plan with 401(k) features provides employees with a convenient way to save on a pre-tax, after-tax or Roth 401(k) basis, and features a company contribution. Participating employees can choose to invest their contributions in a wide range of investments with different levels of risk. Employees may enroll immediately after joining Abbott and are vested in any company contributions after two years of service.

Abbott’s Freedom 2 Save (F2S) program addresses our belief that employees shouldn’t have to choose between paying off student loans and saving for retirement. Under the plan, employees who are currently repaying a student loan, and these payments equal at least two percent of their eligible pay, will receive a five percent company match deposited into their Abbott Stock Retirement Plan (SRP) account without having to make contributions to the SRP. If you are enrolled in F2S and making your own contributions to the SRP, you will only receive the F2S matching contribution. All employees who are eligible to participate in the SRP are eligible to enroll in F2S on their first day of employment.

We pay 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 vested after five years of service. (Some employees may not be eligible for this plan.)

Medical leave management programs help ensure that employees receive appropriate medical and rehabilitative care to facilitate their successful return to work whenever possible.

We provide employees with paid time off to care themselves and eligible family members when they cannot work due to injury or illness. Benefits vary for hourly and salaried employees, and some states based on local or state laws.

We understand it’s important for parents to care for and spend time with their newly born or adopted children. That’s why we offer parental leave. Parental leave is available to eligible birth and adoptive mothers and fathers providing up to eight workweeks (i.e., up to 320 work hours or an equivalent part-time workweek) paid time off following the birth or legal adoption of a child. Parental leave may be used in one-week increments, up to one year from the date of birth or adoption of a new child.

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 or a 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.

Our Long-Term 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 20 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.

We realize that everyone needs time 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 10 paid holidays each year. Specific holiday schedules vary, depending on local practices.

We reimburse up to $20,000 for eligible expenses related to the successful legal adoption of a child (other than a family member).

Our investment in childcare is one part of our commitment to helping employees manage and integrate their personal and professional lives. To help support working parents, Abbott has negotiated preferred placement and fee discounts with national and regional childcare providers, free and discounted virtual tutoring services, free on-line marketplace memberships providing connection to in-home care and personal services, and more.

The EAP is a free, confidential program for employees and retirees, their dependents and household members. The EAP provides assistance and support to help manage all of life’s complexities and easy access to counseling on a range of personal concerns.

The EAP offers a range of services, at no charge, including information about and referral to community resources and treatment programs, educational materials and follow-up, and short-term, solution focused counseling on a variety of topics. Topics include parenting, caregiving, schooling and education, everyday convenience services, basic financial issues, coping with disabilities and resources for child and elder care. EAP professionals also provide consultation to managers and supervisors, crisis intervention and educational/training sessions.

Offered through Abbott's Employee Assistance Program, this benefit is available to Abbott employees and retirees, their dependents and household members.

From helping to save more, to investing for the future, or getting help with making ends meet, the EAP provides free and confidential legal and financial consultations and online tools like financial assessments, calculators or to access legal resources.

Milk Stork is a free, convenient breast milk delivery service for Abbott moms traveling domestically or internationally on business.

We provide ongoing opportunities and support for employees to learn and grow. Employees (including newly hired employees) with at least one year of full-time business experience can take advantage of our generous tuition assistance program. This program reimburses employees for business-relevant classes at 100 percent up to $7,000 per year for undergraduate classes and $10,000 per year for graduate classes.

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, and increase their spendable income.

Work-life services is a free resource and referral program that provides Abbott employees, retirees (age 65 and under), their dependents and household 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 child and elder care. Individuals also have access to a comprehensive website containing information and free materials, including CDs, booklets, educational kits and a wide range of publications on work-life issues.

Torchlight is a tool to make education planning easier by helping parents better understand, advocate and care for children with exceptional needs, including learning disabilities, ADHD and Autism. This support tool provides web-based information and one-on-one live telephone support from specialists to help parents pursue interventions that result in better outcomes for their child through simplification of education planning, facilitation of school communications, troubleshooting issues, organizing materials and tracking progress. Live and on-demand parenting webinars are also available through Torchlight.

CarePartner is a free patient advocacy, care coordination and caregiving support service that will help employees coordinate health care for their parents or other loved ones who are not on the Abbott benefits plan.