Does costco offer health insurance to part time employees

Costco offers a comprehensive benefits package to its full-time employees, which includes employee perks, health insurance, and retirement benefits. Costco is ranked within the top 10 Fortune 500 companies and as such offers its employees a wide range of benefits and competitive salaries.

Employee perks

• Employees are entitled to a free Executive Membership, which is normally worth $120 annually (including an additional card for spouse or partner)

• Free turkey on Thanksgiving Day

• Free gym membership

• A generous PTO policy for vacations, holidays, and sick leave

Health and wellness

• Health insurance

• Dental insurance

• Life insurance

• Short-term disability insurance

• Death insurance, for certain causes of death, like accidents or illness

Retirement Benefits:

• 401(k) plan and defined contribution pension plans

• 50:50 matching on employee contributions

Costco Health Insurance Benefits

Like other employers, Costco offers health insurance to full-time and part-time employees. These benefits are comprehensive and cover health, dental, and vision.

These benefits start 90 days after being hired, which inevitably prevents seasonal staff from applying.

Additionally, it’s worth noting that Costco’s health insurance benefits carry over through retirement if you’ve worked there for at least ten years.

Costco Retirement Plans

As mentioned previously, Costco provides health insurance to the retirement plan of all full-time and part-time employees that have worked at the company for at least ten years.

On top of that, Costco also has a 401k retirement plan. This means that a minimum of 3% of your eligible earnings goes to your Pension Plan account. Plus, if you choose to contribute 4% of your earnings as an optional contribution, Costco will contribute an additional 2%. So in this instance, that would mean that the company contributes 5% to your Pension Plan.

Overall, Costco matches 50% of an employee's contribution, up to a maximum of $500 per year.

Costco Employee Discounts

Unlike other retail positions, Costco does not offer employees an employee discount. Employees are expected to pay the same price for products as everyone else.

Costco Paid Time Off (PTO)

PTO is an important part of being able to take sick days and going on vacations.

Luckily, by all accounts, the amount of PTO days Costco provides is above the national average. So, as an employee, you can expect to receive at least 20-30 days of PTO per year, allowing you to take a vacation or two, as well as have some emergency sick days.

However, it’s important to note that this PTO is typically based on how long you’ve worked at the company. Here are the averages:

• 1 Year: 1 week PTO

• 2-4 Years: 2 weeks PTO

• 5-9 years: 3 weeks PTO

• 10-14 years: 4 weeks PTO

• 15+ years: 5 weeks PTO

Costco Parental Leave

For potential mothers, Costco provides an adequate amount of parental leave. Costco policy offers eight weeks of paid maternity leave, as well as two weeks of unpaid maternity leave. Also, your manager cannot refuse this leave if you request it.

Costco Education

While Costco doesn’t provide free or discounted education directly, the company is given support by The Sunshine Brooks Foundation.

This foundation has a college scholarship program for employees of Costco Wholesale and their children. And, since 1986, the program has awarded over $6 million in scholarships to Costco employees who intended to pursue higher education.

In this way, Costco does help fund the college education of its employees.

Costco Bonuses

Put in simple terms, Costco provides two major bonuses to employees. This include:

• 6-month bonuses. Costco employees generally report earning $2,500 to $3,500 in bonuses every six months. The disparity between these amounts is mostly attributed to the amount of time an employee has worked at the company.

• Annual bonuses. According to Costco employees, it’s possible to earn up to $5,500 in bonuses annually.

Other Perks at Costco

Now that you know the most common benefits of working for Costco, here are some other interesting perks:

• High starting salary. As of 2021, Costco beats out most other similar competition with a starting wage between $15-17 per hour.

• Time and a half on Sundays. On top of receiving time and a half on holidays, all Costco employees will also receive time and a half on other Sundays.

• Free memberships. Costco employees get four free annual memberships for themselves and three others.

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