Hello readers, we have this article on Lowe’s employee benefits. Our motive was to create an article that will have all the benefits in one place. This would make the work of our readers easy. Every employee should get some benefits where they work or else there will be no motivation to work.
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Lowe’s Employee Benefits
Lowes is very structured in mattes of employee benefits. There is a benefits estimator tool that is for the employees to explore the plans and other benefits that they can avail as an employee for Lowe’s. Let us look at the various benefits Lowe’s provide.
Healthcare Benefits
This includes overall health insurance, dental, and vision. Lowe’s will also cover prescription costs. The cost may vary from state to state.
DENTAL INSURANCE
Employees at Lowe’s can avail of this insurance plan after 89 days of continuous employment, this is the eligibility for dental insurance. Hence, the maximum benefit you can get out of it could be $1500 for in-network care and $1200 for out-of-network care. There are deductibles that will apply to only basic and major dental services. It will be $50 for a calendar year. $150 as a family limit for the calendar year. In the case of Orthodontics, if the employee needs braces 50% cost will be given up by the company to the limit of $1000 for an unlimited time period. 
Basic Services: 80% will be covered after the deductible.
Major Services 50% will be covered after the deductible.
There are benefits that apply to all the employees even part-time employees. Such as Limited healthcare benefits, life insurance, dental, and vision care. To get these benefits, the employees must enroll and there is a time period to enroll. You will have 31 days from the date you were hired to make your decision and enroll for all the benefits. You can do the enrollment process through the website. If there are any premiums to be paid, it will be deducted from your salary after tax.
Retirement Benefits
Lowe’s employee benefits provide you two retirement plans. 401K plan and a stock purchase plan. The 401K plan is like the recurring deposit in your bank. Every month a part of your salary will be deducted and will be saved in one place. You can choose how much percent of your salary should be deducted. This amount will be deducted from your salary before the deduction of tax. The stock purchase plan is another option. In this, you can invest your money in buying stocks of the company. This is basically a long term plan you can sell your stocks when you feel like.
Vacation
Vacations policy is eligible for both types of Lowe’s employee benefits. Part-time and full time. Although, there is a bracket under which if you fall then you can take the limited time period vacation. These are the criteria:
- If you have completed one year in the company then the part-time employees can have 40 hours worth time of leave, whereas the full-time employees can have 10 days’ leave.
- After completing 5 years with Lowe, part-time employees can have 60 hours leave and full-time employees can have 15 days’ leave.
- After 15 years of employment with Lowe, Part-time employees can have 80 hours of leave and full-time employees can have 20 days’ leave.
Holidays
This section will clear the Holiday policy at Lowe’s. Lowe stays open at the time of the holidays. They are only remain close on the time of Thanksgiving and Christmas. They provide 6 paid holidays to their employees. As lowe stays open at the time of holidays the company provides them floating holidays that the employees can use at some other dates as compensation for the holidays. Although the pay will be for 8 eight hours for full-time employees and 4 hours for part-time employees. This is only applicable to those of Lowe’s employees who have been employed for more than 90 days in the company.
Discounts At Store
This is the benefit for all the employees, they will get a 10% discount on all the merchandise in the store. The discount will be provided for your purchase. It can be for you or your family and even at the time of buying it as a gift. Eligibility for this benefit is that you need to be an employee at Lowe and no time period needs to be served. You can know more about this on this website.
Related Articles
- Myloweslife Online Employee Portal Login Process Explained
- About Lowe’s Companies, Inc.
- Myloweslife Online Login Portal For the Employees of Lowe’s
Summary
This brings us to the end of this article. Lowe’s have vast criteria for employee benefits. We hope we helped you with the information and you were able to understand what the company provides as employee benefits. This will help you to decide whether you want to join this company or not. Because in this company employee needs to be respectful and should have enough benefits to make their life a little easy.
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