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Employee Benefits Programs | Lowes Employees.com

Lowe’s is proud to have built an employee family which is second to none. Lowe’s employee benefit program includes health and dental plans, flexible spending accounts, a vision plan, sick pay, vacation, paid holidays, disability, life insurance, prescription drug plan, accident plan, and a part-time employee medical plan. There is also a Lowes employee retirement plan which includes a 401 (k) and a stock purchase plan. They offer an industry-leading employee benefits program that provides employees the protection, peace of mind and flexibility they need to build a better life at home and at work.

If you are considering a position at Lowe’s there are a number of benefits that you can expect to enjoy. From comprehensive health and life insurance plans, to work and life programs and a discount stock purchase plan, Lowe’s employees can choose the coverage that best fits their needs.  Lowes has earned recognition for improving the health of employees and their families, and Lowe’s is committed to continuously exploring strategies to meet their needs.  Lowes employee benefits options include:

Comprehensive Health Insurance:

Health Care (Co-pay 500 & Co-pay 750 Option)
Eligibility: All regular full-time employees after 89 days of continuous employment.
Co-pay 500 Option:
Annual Deductible $500 individual; $1,500 family
Physician Office Visit $35; $35 specialist
Annual Physical 100% (number of visits depends on age of patient)
Well-Child Visit 100% (number of visits depends on age of patient)
Maximum Out-of-Pocket Limit $4,000 individual; $8,000 family
Co-pay 750 Option:
Annual deductible $750 individual, $2,250 family
Physician Office visit $45; $45 specialist
Annual Physical 100% (number of visits depends on age of patient)
Well Child Visit 100% (number of visits depends on age of patient)
Maximum Out-of-Pocket Limit $5,000 individual; $10,000 family

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Prescription Drug Benefit
Eligibility: All regular full-time employees after 89 days of continuous employment.The Co-pay 500 and Co-pay 750 options and most HMOs include an outpatient prescription benefit that allows you to purchase drugs at a discount through CVS Caremark.
Co-pay 500, Co-pay 750 and HMO Options co-pay amounts
Prescriptions (30-day supply)
$8 generic
35%, $35 min – $70 max Lowe’s formulary
35%, $90 min – $170 max non-formulary
$30 no generic therapeutic
80% non-formulary “lifestyle”Home Delivery: Get a 90-day supply and save time and money. Enroll or opt out of home delivery program by contacting CVS Caremark.CVS Caremark has pharmacies nationwide. If your medical plan option includes its own prescription drug benefits, you will be notified in the HMO Summary of Benefits.

Dental Insurance:   Lowe’s offers a stand-alone dental plan administered by CIGNA which provides a preferred provider network for in-network coverage to encourage regular preventive care and to help cover the costs of dental services. Out-of-network services will result in higher out-of-pocket costs.

Eligibility: All regular full-time employees after 89 days of continuous employment.
Maximum Benefit: $1,500 per covered member per calendar year for in-network care, $1,200 for out-of-network care.

Deductible: $50 per covered member per calendar year; $150 per aggregate family limit. Deductible applies to basic and major services.  Preventive Care: Covered at 100% (Two cleanings per year and one set of X-rays per 36 months)

Basic Services: Covered at 80% after deductible (fillings, extractions, repairs, etc.)
Major Services Covered at 50% after deductible (crowns, bridges, inlays, etc.)

Orthodontics: (braces) Employees, spouses, and dependents covered at 50% to a lifetime maximum of $1,000

Basic Term Life Insurance
Eligibility: All regular full-time employees after 89 days of continuous employment.

One times Base Annual Pay, rounded to nearest $1,000, up to a maximum of $500,000.Lowe’s offers the Basic Term Life Insurance Plan to help you provide continuing income for your family in the event of your death. This coverage is provided as a separate, independent benefit and is not tied to enrollment in any other benefit plan.
Employee Term Life Insurance
Eligibility: Regular full-time employees after 89 days of continuous employment.Flat $10,000 employee coverage. This option is not available to employees enrolling in the Basic and/or Supplemental Term Life Options.
Supplemental Term Life Insurance
Eligibility: All regular full-time employees after 89 days of continuous employment.One to eight times Base Annual Pay, rounded to nearest $1,000, up to a maximum of $3,000,000.
Dependent Term Life Insurance
Eligibility: All regular full-time employees after 89 days of continuous employment.Lowe’s offers the Dependent Term Life Insurance Plan to help with expenses related to the death of a dependent. You must be enrolled as an employee in the Basic Term Life Insurance Plan or the Supplemental Term Life Insurance Plan options to enroll your dependents in the Plan.

Part-Time Benefits:  All regular, part-time employees have access to, and the opportunity to participate in the following benefit options:

Healthcare & Insurance Plans

  • Limited Benefit Health Plan
  • Term Life Insurance
  • Vision Care
  • Dental Plan

Eligibility: All regular part-time employees, at date of hire.

Employees must enroll in the first 31 days of employment or during a Special Enrollment Period. Coverage will be effective on the day the part time employee completes the enrollment election through the enrollment web site. Premiums are deducted on an after-tax basis. For details, see your location HR Manager for an enrollment packet.

Vacation
Part-time and full time employees are eligible for vacation based on service as follows:

  • After 1 year of service: 40 hours part time, 10 days full time
  • After 5 years of service: 60 hours part time, 15 days full time
  • After 15 years of service: 80 hours part time, 20 days full time

Holidays

Lowe’s provides six (6) paid holidays. Currently, Thanksgiving and Christmas are the only holidays Lowes stores are closed and those days are paid holidays.  Because Lowes is open on some holidays, employees can also accrue up to 4 additional floating holidays – employees decide what day they want to use a floating holiday if they have worked the holiday.  Full-time employees will receive eight hours holiday pay and part-time employees will receive four hours holiday pay for each holiday.

Eligibility: All regular full-time, salaried employees, on first day of employment.  All regular full-time, hourly and part-time employees, after 90 days of employment.

Employee Discounts

Another benefit of working for Lowe’s is that you get to enjoy 10 percent employee discounts on store merchandise. You can use this discount when you purchase  products for your own use, for your family, or for gifts. All employees, regular or part-time, can enjoy this benefit starting on the first day of employment.

For complete details on Lowes Employee Benefits, please visit Lowes.com/benefits.




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