Benefits - Microchip Technology
About our Flexible Benefit Program
Microchip Technology helps pay for coverages for you and your family. Any cost incurred by the employee is paid for on a pretax basis. Following is a brief description of the options available. As a full-time employee, you become eligible for these benefits on the first day of work.
Medical Coverage
Microchip provides four different coverage options for you and your family. This allows you to balance expected expenses, higher deductibles for lower bi-weekly costs, and other coverages you may utilize.
Vacations
Paid vacation time begins accruing immediately at your date of hire. As service time accumulates, vacation time increases.
Holidays
Eligible employees receive ten paid holidays each calendar year.
Prescription Drug Program
This program applies to all eligible employees and their covered dependents, regardless of which of the four medical plans you select. Inteq provides an alternative mail order program for maintenance drugs.
Dental Coverage
Microchip provides two different coverage options for you and your family. These plans include orthodontia co-insurance.
Vision Care
All four medical plans provide specific coverage for wellness care which includes eye exams. Two voluntary discount eye service plans are offered to assist with the cost of glasses and contact lenses.
Employee Life Insurance
Microchip pays for employee coverage up to a certain level. You may purchase additional life insurance for yourself and your family under the Group Universal Life program.
Group Universal Life Insurance
Additional life may be purchased through this voluntary plan. Coverages for your spouse and children are also available.
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