Optum Employee Benefits- All About Optum

Optum Inc.

Optum Inc. is one of the most well-known companies in the American health care sector. Optum focuses on providing a wide range of health services at reasonable costs. The American health care giant is headquartered in Minnesota, United States. The mission statement of Optum highlights the dedication of the organization towards helping people live healthier and happier lives and enhancing the health system for the betterment of everyone. This article provides insight into the numerous Optum Employee Benefits to its workforce. 

Importance of Employee benefits

Every business organization seeks to utilize its resources in the best possible way so that optimum results can be achieved. Along with all the other resources, organizations also need to use their human resources most effectively. With proper utilization of human assets, an organization can venture ahead of its competitors. However human resources are different from all the other resources possessed by the organization. The employees of the organization shall be continuously motivated to boost their morale and spirits. These can be effectively done through the provision of suitable and adequate employee benefits. Moreover, the provision of employee benefits helps to create and maintain synergy between the employer and employees. 

Optum Employee benefits 

Optum continuously strives to provide its workforce with a positive and productive workplace. For this purpose, the organization provides the employees with a wide range of benefits. The multitude of employee benefits provided by Optum are discussed as follows – 

• Paid parental leave – Optum duly recognizes the responsibility of parents to be with their newborn or adopted child. For this purpose, the organization provides paid parental leave to new parents. This paid leave includes consecutive two weeks of paid leave after the birth or adoption of a child, or placement of a foster child. 
• Adoption assistance – Employees looking forward to adopting a child and grow their family can benefit from the adoption assistance plan provided by Optum. The adoption assistance plan reimburses employees for qualified expenses incurred in the process of legally adopting a child whose age is less than 18 years. 
• Commuter reimbursement – Optum provides its employees with a commuter expense reimbursement account facility. This account can be used by the employees to use the pretax income to pay for qualified expenses related to parking and the use of public transportation. 
• Flexible spending accounts – The provision of flexible spending accounts enables the employees to set aside money from their paycheck before tax is levied. Employees can use the amount in a flexible spending account to pay for eligible expenses. Health care flexible spending account enables the employees to pay eligible out-of-pocket health care expenses and Department care flexible spending account provides for payment of child care and elder care expenses. 
• Life and Disability insurance – Life insurance and accidental death and dismemberment coverage provide financial aid for the worker and their family In case of events such as serious injury in an accident or death. Disability coverage enables the provision of financial aid if the employee is unable to work for an extended time owing to an illness or injury. 
• Other insurance benefits – Apart from life and disability insurance, Optum also provides additional insurance benefits such as –

1. Business travel accident insurance –This insurance offers financial protection in case an employee meets a covered accident or sickness which leads to death, disability, or dismemberment while the employee is traveling for business purposes. 
2. Critical illness insurance – This insurance plan includes the provision of financial aid if the employee is diagnosed with any covered severe illness such as cancer, heart attack, or stroke. 

• Employee assistance program – This program is specifically designed to address the employee’s work or life issues. The employee assistance program assists employees or any of their family members in case of issues such as – depression, family or marriage difficulties, and other such issues. This program is free to use and can be used at any time of need. All the information about employees and their issues is kept confidential.
• Medical plans – Employees can select the medical plans bases on their needs and expectance. Medical coverage in these plans is provided by United health care. The medical plans are offered by Optum to sure the well-being of the workforce. 
• Dental plans – Employees at Optum are also provided with dental coverage and this coverage can be availed by the employees through two plans. The first plan is the Basic option and it covers basic dental services along with preventive care. The second plan offered is the Comprehensive option and it covers basic dental services, preventive care, major services, and Orthodontia for children up to 19 years of age. Employees can choose either of the two plans according to their needs and preference. 
• Vision plans – The vision coverage offered by Optum contains provision for an eye examination, lenses, frames, and contacts. Through this plan, employees can visit any vision care provider, but more benefits can be received by visiting a network provider. 

Conclusion – To sum up, it can certainly be said at Optum as an employer genuinely understands the importance of the need and well-being of its employees. By offering several employee benefits to the workforce, the organization ensures that the workplace is graced with high spirits, positive energy, and boosted morale. 

Frequently asked questions 

Question 1. What other factors apart from employee benefits affect an individual’s decision to work for a company?

Answer 1. Apart from employee benefits, individuals may consider some other factors while deciding which organization to work for. These factors maybe – 

1. Salary structure
2. The brand image of the organization
3. Proximity to home
4. Transfer policy

Question 2.  What is the hiring process at Optum?

Answer 2. The hiring process at Optum involves three steps. These are-

1. Application 
2. Application review
3. Assessment 

Question 3. What roles do retirement benefits play in an employee’s life?   

Answer 3. Retirement benefits are an essential part of the employee benefits package. Retirement benefits help to secure the employee’s after retirement life by providing suitable monetary support. All in all retirement benefits provide financial security.