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Coventry Health Care

Headquarters: 6705 Rockledge Drive, Suite 900
Bethesda, MD  20817
Employees: 14,400
CEO: Allen Wise
Stock Symbol: CVH

Website: http://www.coventryhealthcare.com/

Career Site

Coventry Health Care is a national managed health care company operating health plans, insurance companies, network rental / managed care services companies, and workers' compensation services companies.

Coventry provides a full range of risk and fee-based managed care products and services, including HMO, PPO, POS, Medicare Advantage, Medicare Prescription Drug Plans, Medicaid, Workers' Compensation and Network Rental to a broad cross section of employer and government-funded groups.

The company reported at the end of 2011: 1.63 million Commercial Risk members; 222,000 Medicare Advantage members; 1.14 million Medicare Part D members; 692,000 Medicaid members.

In 2011, total revenues were $12.18 billion and net income was $543.1 million.

Coventry was established in 1986 as a provider of managed health care services. If you are looking for Los Angeles hospital jobs in the same field, look into the UCLA Health System.

Benefits

Medical
Regular employees working at least 20 hours per week are eligible for medical insurance, effective on their first day of employment.

You will have a choice of medical plans. Depending upon the CHC location where your office is located, you may be offered one or more of the following types of medical plans.

- HMO - The HMO plan is a managed care plan that provides access to a network of physicians, hospitals and other providers.
- EPO - The EPO plan is a managed care plan that provides access to a network of physicians, hospitals and other providers.
- Point-of-Service (POS) ­ The POS offers all the cost-effective benefits of the managed care plans (HMO/EPO), plus the ability to choose providers and hospitals outside the plan's network. Your portion of the cost of medical care will be greater if you choose service outside the network.
Coverage: Hospital, major medical, diagnostic and prescription benefits are covered by all plans listed above.

Cost share: CHC and you share in the cost of the premiums.

Dental
Regular employees working at least 20 hours per week are eligible for dental insurance, effective on their first day of employment. Depending upon the CHC location where your office is located, you may be offered the choice of a managed dental plan or a preferred provider organization plan.

Cost share: CHC and you share in the cost of the premiums.

Vision
A fully insured vision plan with Vision Service Plan (VSP) is available to benefit-eligible employees at all CHC locations, effective on their first day of employment.

Pre-tax benefits
All employee paid premiums for the Medical, Dental and Vision Plans can be paid on a pre-tax basis.

Flexible Spending Accounts
Regular employees working at least 20 hours per week are eligible to participate in the flexible spending accounts effective on their first day of employment. The Health Care and Dependent Care Spending Accounts provide for reimbursement of predictable expenses (within IRS guidelines) using pre-tax dollars.

Vacation
Vacation time begins to accrue as of the first day of employment for all eligible employees.

Exempt - Vacation of up to three weeks during your first calendar year of employment (depending upon your date of hire) is provided for Exempt employees.

Nonexempt - Vacation of up to two weeks during your first calendar year of employment (depending upon your date of hire) is available for Nonexempt employees.

The longer you work at CHC, the more days you accrue per month. Your benefits package will give a detailed schedule.

Floating holidays
Up to two days of paid floating holidays during your first calendar year of employment (depending upon the month of your hire) is provided for both Exempt and Nonexempt employees.

Holidays
Eight paid holidays per year are granted to all CHC employees eligible for benefits.

Sick time
Eligible full-time employees* accrue seven sick days per year, regardless of length of service. Eligible part-time employees* accrue five sick days per year, regardless of length of service.

*Regular employees working 40 hours per week or more are classified as full-time. Regular employees working 20 hours per week or more are eligible for vacation in pro-rated equivalents.

Basic Life Insurance
The following life and accident insurance coverages (100% paid by CHC) are provided to eligible employees effective on their first day of employment:
- Basic life insurance of one and one-half times earnings.
- Basic AD&D insurance of one and one-half times earnings.
- Business Travel Accident of four times earnings.
Supplemental Insurance coverage
All employees eligible for basic life and accident coverage are given the opportunity to purchase additional coverage for themselves and eligible dependents, including:
- Supplemental life insurance up to three times earnings.
- Dependent life insurance options are available.
- Supplemental AD&D of up to five times earnings.

Retirement Plan: All CHC employees are eligible to participate in the 401(k) Plan effective with first day of employment. Here's how it works:
- Employee contributions - Employees can contribute, on a pre-tax basis, up to 15% of eligible pay each pay period.
- Matching contribution - CHC will match 100% of the first 3% of eligible pay; followed by 50% of the next 3% of pay. The maximum match is 4.5% of eligible pay. Matching contributions are made each pay period.
- Investment options - Participants can select between 20 funds, ranging from conservative to aggressive growth funds. Investment changes are allowed daily.
- Loans and rollovers ­ Participants have the ability to take loans within plan guidelines (based on IRS rules for qualified retirement plans). Additionally, employees can transfer (roll over) funds from another employer's qualified savings or pension plan to the 401(k) Plan.
- Information access ­ Participants can facilitate any investment transfer requests, gather information and monitor account balance data via a website that is available around the clock. An automated phone system and member service counselors are also available to provide any plan information or to process transactions.
- Vesting - Participants vest according to the following schedule: Less than one year -- 0%, One year -- 50%, Two years -- 100%

Updated April 8, 2012

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