COVID-19 had a profound and long-lasting effect on our lives; it altered our shopping habits and social interactions. It also changed the way we saw health care because we realized how much more important it is for our employees to have access to seamless and virtual support.
As a business, we carefully consider modifications to our benefits and well-being programs based on what is best for our employees. To assist our employees in obtaining high-quality care in practical ways, we're delighted to provide a variety of new and enhanced programs during the open enrollment period for 2023, which runs from now through November 16. In most locations, we maintain medical plans at prices as low as $31.40 each paycheck for associate-only coverage.
Additionally, we continue to provide a variety of fantastic benefits all year long that go above and beyond the typical medical, dental, and vision plans and assist in looking after the physical, emotional, and financial well-being of our associates. Life-changing benefits can occur at the ideal time.
Here's a sneak glimpse at some major projects that Walmart and Sam's Club employees will be working on in 2023.
Easily Obtainable Convenient Care
We're launching digital benefits programs in a few places to connect Walmart medical plan members with excellent treatment and preventive checkups because we want to make it simpler to live well.
Take, for instance, our cutting-edge virtual physical therapy software. Providing easy video consultations with a professional physical therapist and the flexibility to complete their therapeutic exercises wherever they are makes its users feel better. The ability to move at your own pace facilitates a speedier recovery.
And our most recent pilot study on digestive wellness. By providing associates with round-the-clock access to a team of experts who are committed to assisting them in doing so, as well as continuing education, one-on-one coaching, and more, it helps associates improve their digestive health.
Additionally, we provide colleagues with online access to primary care physicians who can address their basic medical needs, such as diabetes or asthma, refer them to specialists for additional assistance, put them in touch with behavioral health specialists, and more.
Benefit Options that Are Personalized and Accessible
We're simplifying and expanding our benefits to help Walmart colleagues who are covered by a medical plan live healthier lives.
We introduced two new benefits in June: doula coverage for plan participants in Georgia, which provides our colleagues with up to $1,000 per pregnancy, and Included Health Communities, a platform for navigating care specifically designed for the LGBTQ+ community.
In some areas, associates will also receive a Personal Healthcare Assistant who will provide them with individualised support, quick and simple access to doctors, assistance in getting a second opinion, and assistance in navigating complex medical bills.
Other Investments in Physical, Emotional, and Financial Well-Being
We take an integrated, whole-self approach to benefits, so regardless of whether you work as a technologist developing our eCommerce platform, an hourly employee stocking shelves, or in any other capacity across the company, our associates have access to a variety of fantastic well-being benefits all year long, such as:
Counseling that is private and is free.
Through Resources for Living, we provide family members and friends with up to 10 complimentary counselling sessions each issue (RFL). RFL licenced specialists are accessible around-the-clock to listen and give considerate counsel about handling stress, anxiety, parenthood, change, or loss.
Funds for retirement with a workplace match.
For our employees' long-term financial security, it's essential, and Walmart makes it simple by matching 6% of your 401(k) contributions. Both full-time and part-time hourly U.S. employees are eligible for the benefit, and they can start saving from their very first day of employment.
For stock purchases, the company matches.
Another approach to improve financial security is through the Associate Stock Purchase Plan, to which Walmart matches 15% of the first $1,800 that employees pay, up to a maximum of $270 per plan each year.
Walmart will cover all college costs, including books. Through our Live Better U education programme, associates in the United States can obtain college degrees or develop trade skills without incurring student loan debt.
Use paid time off for important activities.
Both full-time and part-time associates at Walmart have the freedom to take time off when they're most needed thanks to our paid time off (PTO) programme.
Birth mothers are eligible for up to 16 weeks of paid leave under our maternity benefit and parental leave policy. Up to six weeks of paid parental leave are also available to new parents, including adoptive and foster parents, to help them bond with their kids.
Additionally, we provide a $5,000 adoption incentive for qualified costs. In the United States, qualifying full-time hourly and paid colleagues may apply.
A $9 fitness center subscription with Fitness Pass.
You and your family have access to thousands of fitness facilities through the Fitness Pass network as a full-time, part-time, or temporary U.S. associate. You can take advantage of this benefit for as little as $9 each paycheck.
World-class care for critical illnesses.
Through our Centers of Excellence program, associates registered in most Walmart medical plans have access to some of the most excellent doctors and hospitals in the nation.
These advantages go beyond Walmart's $16.40 hourly average compensation in the United States, classroom and on-the-job training, regular and stable schedules for full-time colleagues, and more.
We are committed to assisting our employees in living better every day since we recognize that maintaining good health and feeling wonderful calls for a multifaceted strategy and genuine dedication.
