Sepracor offers a comprehensive benefit program to employees working 30 or more hours per week, with most benefits becoming effective on your date of hire.
Medical Options
Sepracor offers two plan designs through Blue Cross Blue Shield, which has one of the nation's largest networks. A PPO plan with a nationwide network is available to all employees. Employees residing in Massachusetts and other New England states may also elect an HMO plan.
Dental Benefits
Dental coverage is provided by Delta Dental Premiere USA, one of the largest providers in the country. Comprehensive coverage ranges from 100% coverage for preventative and routine care to 50% for major restorative services. Orthodontia is available for children and adults.
Vision Benefits
Vision coverage is provided by Vision Service Plan (VSP), a national company, providing eye examinations and eyewear through a large network of optometrists, opthalmologists and retail eyewear locations throughout the country.
Short Term Disability
Short term disability coverage is provided beginning on the first day of employment. If an employee is unable to work because of an illness or accident, they may be eligible for 100% of their base pay up to 90 days. This benefit is entirely paid by Sepracor.
Long Term Disability
Long Term Disability insurance is provided at 50% of base pay, up to a monthly maximum benefit of $11,000. This benefit is entirely paid by Sepracor. Employees also have the option of selecting a benefit providing 60% of base pay, which is employee paid.
Life and AD&D Insurance
Dependent Life Insurance
Sepracor's group term life and Accidental Death & Dismemberment insurance plans are effective on the date of hire at no cost. Coverage is equal to three times the annual salary up to a maximum of $1,000,000. Spouse Life Insurance in the amount of $10,000 and Child(ren) Life Insurance in the amount of $5,000 per child is also provided at no cost.
Supplemental Employee and Spousal Life Insurance
Additional life insurance may be purchased in increments of $50,000 up to $500,000 for employees and increments of $25,000 up to $100,000 for spouses or domestic partners.
Flexible Spending Accounts
Flexible spending accounts, also known as FSAs, are accounts that are used to pay uncovered, eligible medical, dental and dependent care expenses on a pretax basis. Sepracor offers both medical and dependent care spending accounts.
401(k) Plan
Any regular full-time, regular part-time or part-time employee is eligible to join the Sepracor 401(k) plan through Fidelity Investments upon their date of hire. Deductions will begin as soon as administratively feasible.
Employee Contributions
The Sepracor 401(k) plan offers the opportunity to save for retirement by investing pre-tax dollars in a range of 16 professionally managed mutual funds and age based retirement ready funds where Fidelity balances the fund allocation based on a planned retirement date (i.e. Freedom Funds). Employees can contribute between 1% and 60% of their salary (subject to IRS limits).
Employer Matching Contributions
Sepracor helps employees save for retirement by making contributions to their account. Sepracor will match 50% of the first $7,000 that is contributed to the plan, up to a maximum of $3,500 per year, subject to a vesting schedule.
Employee Stock Purchase Plan
Employees may elect to contribute between 1% and 10% of their salary on an after-tax basis to purchase Sepracor stock at a discounted price.
WORK/LIFE PROGRAMS
Adoption Assistance
Sepracor offers an adoption assistance benefit for reimbursement of expenses associated with adoption up to $3,500 per child.
Tuition Assistance
Sepracor offers a competitive reimbursement program for course books, lab fees and tuition, offering the ability to achieve educational and career goals. The annual reimbursement is $6,500.
Employee Assistance Program (EAP)
The EAP is a telephone assistance and referral service, provided by Kathleen Greer Associates. They provide confidential assessment, referrals and services to employees and family members for personal issues such as alcohol or drug abuse, legal and financial matters, emotional problems, etc. This benefit is entirely paid by Sepracor.
Childcare
Bright Horizons provides a full time daycare program for employees located in Massachusetts.
Vacation and Holidays
The first year, employees will accrue up to 12 days. An additional day of vacation time will begin to accrue on your anniversary date, up to a maximum of twenty-three (23) days per year. Sepracor provides nine holidays per year, plus two personal float days. In addition, we usually close the week between Christmas and New Year's, providing employees with additional paid time off.
Benefit Providers