Health & well-being
Health and wellness allowance
Medtronic is committed to providing health related benefits that are affordable for employees, their family, and the company, along with tools and resources to help employees maintain or improve their health.
Medtronic’s health benefit is a flexible healthcare offering whereby employees can use their annual health allowance to purchase health related benefits to meet their personal needs and the needs of their family. Health allowance is determined by role, location, hours worked (full time/part time), and length of service.
In addition to selecting a health insurance plan, employees can also choose to select dental insurance, travel insurance and / or gym* membership. These benefits can also be extended to include eligible dependents.
*Gym membership is offered across a selection of gyms and leisure centers, with options varying by location.
Employees must select a health insurance plan to activate their allowance. Employees may spend more than their allowance should they wish and can pay the excess through each payroll.
Health insurance
Employees must select a health insurance plan to activate their health allowance. There are four medical plans to choose from. Employees may also select a health insurance plan for their eligible dependents.
Dental insurance
Travel insurance
The travel insurance policy will cover employees and their eligible dependents on the condition that their dependents are already added on the employees’ health insurance policy.
Life Insurance
Medtronic provides life insurance which is 100% Medtronic paid. In the event of death, a lump sum benefit of 6x annual salary (plus shift premium plus bonus) + AVCs + Defined Contribution fund value, will be paid out to the designated beneficiaries.
Income protection insurance
Medtronic employees are insured under our Group Income Protection scheme. Employees who are absent for over 6 months and are accepted onto the scheme by the insurance provider will receive a monthly payment.
Gym
Gym memberships are offered across a selection of gyms and leisure centers, with options varying by location.
Global well-being program
SimpleSteps
The collective efforts of our employees around the world make it possible to achieve our Mission. It’s those efforts that are reflected in Tenet 5 and rewarded through a complete package of benefits to help you build your financial, physical, and emotional well-being. We are committed to supporting the well-being of our employees by reinventing the concept of well-being and embedding it into the fabric of Medtronic. SimpleSteps offers a broad, enhanced portfolio of resources and support to help improve your well-being, wherever you are in the world.
Pension & savings
Pension & AVC
Medtronic is committed to helping employees build financial security through retirement benefits and offers a Defined Contribution pension plan. Medtronic contributes generously to the plan, and employees receive tax relief on their own contributions, making this the most cost-effective way to save for retirement. In addition, employees can choose to make Additional Voluntary Contributions (“AVCs”) which enables employees to supplement their main pension plan benefits.
Employee Stock Purchase Plan
As a Medtronic employee you can avail of the Employee Stock Purchase Plan (ESPP), where you can purchase Medtronic stock each calendar quarter at a discounted rate. It is an opportunity to share in the success of Medtronic.
Additional benefits
Time off & leaves
Medtronic recognizes the importance of work/life balance and has programs to support working and living well. Take time to relax, recover, care for family, and more.
Employee assistance program
In this ever-changing world, you may face demands at home and at work that are hard to manage. The Employee Assistance Program (EAP) is here when you need it – to guide, support, and connect you and your family to the information, resources, and referrals to support whatever life brings your way.
Cycle2work & tax saver commuter tickets
Employees can The cycle2Work and Tax Saver Commuter Ticket schemes are available to all employees.
