Cape Regional Medical Center Benefits

At Cape Regional Medical Center, they provide some retirement and welfare benefits to promote employee well-being. Like Cape Regional Medical Center employees, many American workers rely on employer-financed group health plans, through which companies typically foot the bill for a considerable proportion of their employees' health insurance premiums. These contributions are tax deductible for employers and tax-free for employees. Cape Regional Medical Center offers health and dental coverage. Cape Regional Medical Center also provides group life insurance, short-term disability insurance for accidents or illness, long-term disability insurance, and death benefits, which cover certain causes of death. To help guarantee a steady stream of money later in life, a large number of workers depend on employer-sponsored pension plans. Cape Regional Medical Center provides defined benefit pension plans and defined contribution pension plans. Retirees at employers with defined benefit retirement plans are provided with a predetermined amount upon retirement. With a defined contribution pension plan, companies help workers save and invest for retirement.