Jeffrey Wade
FTI Consulting offers its employees a range of health insurance options, including medical, dental, and vision coverage. Employees can choose their coverage level and how they want to pay for it, with some choosing between very expensive plans and low-coverage plans. FTI Consulting has been recognised for its impressive maternity support program, parental leave, and solid financial benefits. The company also offers life insurance, disability insurance, and optional travel insurance. While some employees have praised the company's benefits, others have criticised the high copays and lack of meaningful work-life balance.
| Characteristics | Values |
|---|---|
| Insurance carriers | Aetna, Kaiser Permanente, Health Net, Aon Active Health Exchange |
| Coverage levels | Silver |
| Prescription drug coverage | Provided through insurance carrier's pharmacy benefit manager |
| Maternity support | Access to quality resources, administrative assistance, and support |
| Vision plan | Covers the costs of basic eye exams with a possibility to pay for additional benefits |
| Life insurance | Yes |
| Disability insurance | Yes |
| Dental insurance | Yes, including reconstructive surgery |
| Telehealth | No |
| Tuition reimbursement | No |
| Childcare discount | No |
| Commuter benefits | Yes |
| Daycare flexible spending account | Yes |
| Vacation policy | Paid time off, 10 paid holidays, 5 bereavement days, parental leave, flex return support |
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What You'll Learn
FTI Consulting's health insurance carriers
FTI Consulting offers its employees a range of health insurance carriers and benefits. The specific benefits available vary by country, and employees are advised to consult with their FTI recruiting specialist for details.
FTI Consulting provides medical, dental, and vision coverage through the Aon Active Health Exchange, which offers numerous benefit plan options from multiple insurance carriers. Employees can choose their coverage level and how they want to pay for it. FTI Consulting also offers private health insurance, with some employees reporting that the company covers 40-50% of the cost.
In addition to health insurance, FTI Consulting offers a range of other benefits to support the well-being of its employees. These include a maternity support program, nutritional and psychological counselling, parental leave, and a daycare flexible spending account. FTI Consulting also provides life insurance, disability insurance, and a commuting benefits program.
FTI Consulting has been recognised for its benefits, being named to Consulting Magazine's Best Firms to Work For list for five consecutive years. The company strives to offer competitive and comprehensive benefits to its employees and foster an inclusive culture.
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Coverage levels and out-of-pocket costs
FTI Consulting offers its employees a range of health insurance options, including affordable healthcare insurance and dental plans that cover reconstructive surgery. Employees can also take advantage of FTI's impressive maternity support program, nutritional and psychological counselling, and health plan incentives.
FTI Consulting allows employees to choose their coverage level, giving them the flexibility to select the features they want and need. This means that employees can decide how much coverage they require and how they want to pay for it. The coverage level will determine how much employees pay out of their paycheck (premiums) and how much they will need to pay out of their pocket when they receive care (deductibles, coinsurance, copays).
FTI Consulting's health insurance plans used to cover about 70% of the cost, but newer plans only cover 40-50%. Employees can also choose to deposit a part of their salary into an account to be used for any medical or dental expenses not covered by their health plan, and family members can use these funds as well.
FTI Consulting provides prescription drug coverage through the insurance carrier's pharmacy benefit manager. While the coverage level will determine the coverage for prescription drugs, each pharmacy benefit manager has its own rules, so it is important to understand how medications will be covered.
For those living outside the service areas of all insurance carriers, there is an out-of-area option at the Silver coverage level, with Aetna as the insurance carrier.
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Dental, vision, and life insurance
FTI Consulting offers its employees a range of medical insurance options, allowing them to choose the coverage level that best suits their needs. While the specific dental, vision, and life insurance providers for FTI are not publicly available, it's likely that FTI offers similar options to other companies, which often include popular providers such as MetLife.
Dental Insurance
Dental insurance helps cover the costs of dental care, with some plans offering savings and comprehensive coverage. For example, MetLife's dental insurance plans offer a large network of participating dental providers in certain states, allowing individuals to choose their dentist while saving 35-50% on typical service costs. MetLife also provides 24/7 access to emergency dental care and a network of specialty care providers.
Vision Insurance
Vision insurance typically covers eye exams, glasses, and contact lenses, helping to reduce out-of-pocket expenses for these necessary services.
Life Insurance
Life insurance is a crucial aspect of financial planning, providing financial protection for loved ones in the event of an individual's death. It ensures that families can maintain their standard of living, cover expenses, and achieve their future goals.
FTI employees can likely choose from a variety of insurance carriers and coverage levels, customising their plans to fit their unique needs and budgets. It is important to carefully review the available options and select the coverage that best suits one's situation.
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Maternity support and parental leave
FTI Consulting offers a remarkable maternity support program for its employees, which includes access to quality resources, administrative assistance, and daily support for expecting mothers. Additionally, FTI provides a range of other benefits that can support employees during this time, such as nutritional and psychological counselling, health plan incentives, and a vision plan that covers basic eye exams.
FTI's health insurance plans also include affordable healthcare insurance and a dental plan that covers reconstructive surgery. Employees can also choose to deposit a part of their salary into an account to cover any medical or dental expenses not covered by their health plan, which can also be used by their family members.
FTI Consulting's parental leave policy offers paid time off for expecting mothers, and fathers may also be entitled to parental leave benefits. The specific details of FTI's parental leave policy are not publicly available, but it is recommended to contact the insurance carrier or refer to the official plan documents for more information.
FTI Consulting's insurance carriers include Aetna, Kaiser Permanente, and Health Net. The coverage level chosen will determine the extent of prescription drug coverage, with each pharmacy benefit manager having its own rules. It is important for employees to understand how their family's medications will be covered under the selected plan.
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Disability and commuting benefits
FTI Consulting offers its employees a range of health insurance options, including medical coverage, life insurance, and disability insurance. Employees can choose their coverage level and how they want to pay for it. FTI Consulting's disability insurance program provides coverage for short-term disabilities, replacing a certain percentage of the salary for a specific period.
Commuter benefits are perks or compensation offered by employers to help employees cover the costs of their daily commute to and from work. These benefits can include reimbursements for transportation or parking expenses, such as fares and passes for mass transit vehicles, parking meters, garages, and lots. Some companies may also offer reimbursements for ride-sharing services or maintenance and repairs on personal vehicles used for commuting. Commuter benefits can be provided through pre-tax deductions from employees' paychecks, reducing their taxable income and increasing their disposable income for eligible expenses.
In 2023, the Internal Revenue Service (IRS) set a limit of $300 per month, tax-free, for both transit and parking expenses combined. Commuter benefits can also improve employee morale and engagement, reduce turnover, and provide unique perks like reducing frustration during commutes.
FTI Consulting offers commuter benefits that allow eligible team members to cover their transportation or parking costs up to a certain distance from the workplace. This is in addition to their other financial benefits, including disability support and life insurance.
Disability accommodations during commutes may also be necessary for employees with certain disabilities. For example, employees with sitting restrictions, those who require frequent restroom access, or those with limited use of their upper or lower extremities may face challenges when commuting. Employers may need to consider accommodations such as modifying work schedules to allow for public transportation use or permitting employees to work remotely to avoid commuting altogether.
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Frequently asked questions
FTI Consulting offers health insurance with the Aon Active Health Exchange, which includes numerous benefit plan options from multiple insurance carriers.
The insurance carriers include Aetna, Kaiser Permanente, and Health Net.
FTI's health insurance covers medical, dental, and vision.
FTI's health insurance offers affordable rates, parental leave, a maternity support program, nutritional and psychological counselling, and health plan incentives.
FTI offers a range of coverage levels, allowing employees to choose how much coverage they need and how they want to pay for it. The coverage level determines the premium and out-of-pocket expenses.
