Frederick Memorial Hospital Benefits

Frederick Memorial Hospital employees are provided with some pension and welfare benefits. Many American companies, like Frederick Memorial Hospital, fund health plans, through which a large proportion of each worker's health insurance premium is funded by their employer. These contributions are tax deductible for companies and tax-free for employees. Frederick Memorial Hospital offers health, dental, and vision coverage. Frederick Memorial Hospital also provides group life insurance, short-term disability insurance for accidents or illness, and long-term disability insurance. Employer-financed pension plans help to secure a reliable stream of money later in life. Frederick Memorial Hospital provides defined benefit pension plans and defined contribution pension plans. Businesses with defined benefit retirement plans pay employees a predetermined amount when they reach retirement. With a defined contribution retirement plan, employers help workers save and invest for retirement.