Quest Diagnostics is committed to employee engagement as a cornerstone to achieving customer and shareholder satisfaction. The pay and benefit plans highlighted below have been designed to promote employee health in all respects –physical, financial, and developmental.
The principal components of an employee’s cash pay program consist of base pay and incentive pay plans. The goal of the base pay plan is to pay employees competitively based on comparisons to the marketplace and their contributions to the Company. Similarly, the goal of our benefits program is to provide market competitive benefits, based on comparisons to the marketplace.
For your convenience, your pay will automatically be deposited in your personal bank or credit union account by noon on payday. You have the ability to distribute your pay into several accounts. This service guarantees the delivery of your pay on time every time. Read More
Employment and Income Verifications
Employees can take advantage of an automated service for verification of employment or income. “The Work Number” is available 24/7 at 1-800-367-2884 or at TheWorkNumber.com/employee. There is no charge to employees for this service, which is used for proof of employment or income for loan applications, purchases of homes and other various purposes. Your local Human Resources department can provide more details on this free program.
Variable Compensation Plans
Through the Company’s Goal Sharing Plan, employees are recognized and rewarded for the continuous improvement of their organization. This plan is paid in cash and all regular full time, part time and on call employees with more than six months of service are eligible to participate. Eligible earnings do not begin to accrue until after six months of service.
Management Incentive Plan (MIP) eligible and sales personnel participating in variable compensation plans are rewarded under separate incentive compensation plans. Details of these plans are outlined in the relevant plan documents. Read More
Medical, Dental & Vision Plans
The Company offers a variety of medical plans, available to employees based on their home zip code. The two national plans that are available to most employees are the Aetna Choice POS II plan (a PPO that does not require referrals to see a specialist), and a consumer directed plan through CIGNA (CIGNA Health Reimbursement Account Open Access Plus). Also available by region are a variety of Health Maintenance Organizations (HMOs) and Preferred Provider Organizations (PPOs). Quest Diagnostics contributes approximately 80% of the monthly premium for each of these plans.
If you are enrolled in the Aetna, CIGNA HRA, Horizon or Coventry Plans plans, your laboratory benefit is significantly enhanced by utilizing the QuestSelect network for laboratory services.
You are eligible to participate in a medical, dental or vision plan if you are regularly scheduled to work at least 30 hours per week. Coverage is effective on the first of the month coincident with or following one month of employment.
Eligibility is available to domestic partners for the Aetna Choice POS II plan. In addition, domestic partner coverage is available in some of the regional HMOs or PPOs offered.
Dental and Vision coverage is available through Aetna (Aetna Dental PPO and Aetna Vision Preferred and are stand-alone plans, which may be elected without enrolling in a Quest Diagnostics medical plan. Coverage is available to domestic partners. Read More
Pre-Tax Savings Plan(The 401(k) Plan)
You are eligible to join the Quest Diagnostics 401(k) Plan after completing one month of service. Employees may invest up to 35% of pre-tax income in any one or a combination of over 20 diverse investment options available through Fidelity Investments. The available options include a wide array of mutual funds, lifecycle funds, a stable value fund and a Company stock fund. After 12 months of service, the Company matches your contributions, dollar for dollar, up to 5%. The Company match is non-forfeitable, or fully vested at all times and is allocated to your account based on your investment elections. Company matching contributions are made on a bi-weekly basis but only in the pay periods in which you make a pre-tax contribution. In certain cases, time spent working for Quest Diagnostics through a temporary agency will count towards satisfying the one and 12-month eligibility periods. Catch-Up Contributions, additional pre-tax contributions, are permissible for eligible plan participants.
Employee Stock Purchase Plan (ESPP)
Employees may purchase Quest Diagnostics stock at a cost of 85% of the market price on each monthly purchase date. From each paycheck, a minimum of $10.00 and a maximum of 10% of your base pay may be invested. The ESPP is available to employees regularly scheduled to work at least 20 hours per week. Dividends paid on purchased stock are automatically reinvested.
Time Off with Pay (TOP)
Employees are provided Time Off with Pay (TOP) that may be used for vacation, personal needs and incidental sick time. Employees must be regularly scheduled to work at least 20 hours per week to be eligible for this benefit. Temporary employees are not eligible for TOP. TOP hours accrue each pay period based on hours worked. Employees begin to accrue TOP upon hire, but must complete 3 months of service in order to use the time. During the first year of employment, a full-time employee scheduled to work 40 hours per week accrues 4.62 hours per pay period, equating to 15 days for that first year. (First year accrual rates vary for Pathologists and MIP eligible employees.) At the first anniversary of employment, the accrual increases to 6.15 hours per pay period or approximately 20 days per year. The rate of accrual increases with service. On the fourth anniversary, employees begin to accrue approximately 24 days per year, and 27 days on the eighth anniversary.
At the end of the first calendar year, all unused TOP is carried over for use in the next year. At the end of each subsequent year, there is a limited ability to carry over and/or be paid out for unused TOP, subject to statutory requirements. All accrued but unused TOP will be paid out at termination of employment.
In addition to the above paid time off, employees regularly scheduled to work at least 20 hours per week will be paid for six major observed holidays. Read More
Additional benefits include family healthcare, life insurance, short term disability, long term disability, employee assistance, adoption assistance, and relocation assistance.