Consolidated Electrical Distributors, Inc. (CED) is one of the largest privately owned electrical supply distribution companies in the U.S., with over 700 locations across the country. Known for its decentralized model, CED operates as a collection of smaller, independently managed locations, each tailored to meet the specific needs of its market. However, when it comes to employee benefits, including health insurance, the company offers a consistent and comprehensive package across its locations.
Overview of CED’s Health Insurance Offerings
CED offers a competitive benefits package that includes a variety of insurance options, aimed at ensuring the well-being of its employees. While specific benefits may vary slightly depending on factors like location and job role, most full-time employees can expect access to the following:
1. Medical Insurance
CED provides employees with comprehensive medical insurance coverage, including hospitalization, preventive care, and specialist visits. The plan includes coverage for primary care visits, prescription medications, and emergency room care. Employees can choose from different health insurance plans that best suit their individual or family needs, balancing coverage with premium costs.
Medical insurance at CED is administered through reputable national carriers, ensuring a wide network of healthcare providers. While plan specifics, such as co-pays and deductibles, may vary, the company works to provide robust coverage for its employees.
2. Dental and Vision Insurance
In addition to medical insurance, CED offers dental and vision plans, which cover routine dental checkups, cleanings, and basic treatments. For vision care, employees receive benefits that include eye exams, glasses, and contact lenses.
These plans are designed to cover a range of needs, from preventive care to more advanced procedures like orthodontics or oral surgery, depending on the chosen coverage level.
3. Life and Disability Insurance
CED provides basic life and disability insurance to all full-time employees, at no additional cost. This includes life insurance coverage that provides financial support to beneficiaries in the event of the employee’s death. Additionally, long-term and short-term disability insurance is offered to help employees who may become unable to work due to illness or injury. Employees also have the option to purchase additional coverage for themselves, their spouses, and dependent children.
4. Supplemental Insurance Plans
CED understands that not all employees have the same insurance needs. To cater to these differences, the company offers supplemental insurance plans. These voluntary plans provide extra coverage options such as accident insurance, critical illness insurance, and hospital indemnity insurance. These are particularly helpful for employees looking to fill gaps in their primary insurance coverage or seeking additional financial protection.
Additional Benefits Offered by CED
Beyond traditional health insurance, CED provides its employees with a range of additional benefits that contribute to their overall financial security and well-being.
1. 401(k) Plan
CED offers a 401(k) retirement plan with a variety of investment fund options. Employees can choose the funds that align with their retirement goals, and the company often provides a matching contribution to encourage long-term savings. This plan allows employees to grow their retirement savings while also benefiting from tax advantages.
2. Profit Sharing
Profit sharing is another perk offered by CED. This allows employees to receive a portion of the company’s profits, depending on its overall financial performance. While this is not a guaranteed benefit every year, it provides an additional financial incentive for employees to contribute to the company’s success.
3. Paid Time Off and Holidays
CED offers paid time off (PTO) for employees, which accrues based on the duration of employment. Typically, employees can expect to start with two weeks of PTO, with the potential to accrue more over time. Paid holidays are also part of the package, though the exact number may vary by location.
How Does CED’s Insurance Compare to Industry Standards?
In the electrical distribution industry, employee benefits packages can vary significantly from company to company. CED’s insurance offerings are competitive, especially in terms of the range of coverage available. The inclusion of both basic and supplemental plans gives employees flexibility in choosing the level of coverage they need. The addition of life and disability insurance at no extra cost is a notable perk, as not all companies provide these benefits without requiring employee contributions.
The company’s commitment to profit sharing and retirement savings also places it above average in terms of long-term financial security for employees. While some reviews suggest that CED’s health insurance may not be the most generous in terms of premium costs or coverage limits, the broader benefits package compensates for this, making it an attractive option for many employees.
Employee Feedback on CED’s Insurance and Benefits
Feedback from CED employees regarding the company’s health insurance and overall benefits package tends to be mixed, reflecting both positive and constructive insights. Some employees appreciate the comprehensive nature of the offerings, particularly the ability to choose supplemental coverage and the security provided by life and disability insurance. Others, however, mention that the costs of premiums for certain plans may be higher than expected, especially for family coverage, and suggest that the company could offer more competitive pricing in this regard.
Despite these concerns, many employees value the profit-sharing program and the flexibility offered by the retirement savings options. Paid time off and the company’s willingness to support work-life balance are also frequently mentioned as positive aspects of working at CED.
Final Thoughts: Is CED’s Health Insurance Right for You?
If you’re considering a career at Consolidated Electrical Distributors, understanding the company’s health insurance and benefits offerings is crucial. CED provides a well-rounded benefits package, including medical, dental, and vision coverage, along with life and disability insurance. The availability of supplemental insurance allows employees to tailor their coverage to their personal needs, while the company’s profit-sharing and 401(k) plans support long-term financial planning.
For individuals looking for a comprehensive benefits package that supports both their health and financial well-being, CED offers a competitive option in the electrical distribution industry. However, potential employees should carefully review the specific details of the health plans available, especially in terms of premium costs and coverage limits, to ensure that the offerings align with their expectations and needs.
FAQs: Consolidated Electrical Distributors (CED) Health Insurance and Benefits
1. What health insurance does CED provide to its employees?
CED offers comprehensive medical insurance to its employees, which covers hospitalization, primary care visits, emergency care, and prescription medications. Employees can choose from various plans that fit their individual or family needs.
2. Does CED offer dental and vision insurance?
Yes, CED provides dental and vision insurance plans. Dental coverage includes routine checkups, cleanings, and treatments, while vision plans cover eye exams, glasses, and contact lenses.
3. Is life and disability insurance included in CED’s benefits package?
CED provides basic life and disability insurance for all full-time employees at no cost. This coverage includes long-term and short-term disability insurance to help employees if they are unable to work due to illness or injury. Additional life insurance options for employees and their families are available for purchase.
4. What supplemental insurance options does CED offer?
CED offers voluntary supplemental insurance plans, including accident insurance, critical illness insurance, and hospital indemnity insurance. These plans provide extra coverage to help fill any gaps in the primary insurance plan.
5. Does CED offer retirement benefits?
Yes, CED offers a 401(k) retirement plan with a variety of investment fund options. Employees can choose the funds that best suit their retirement goals, and CED typically provides a company match to encourage savings.
6. What is CED’s profit-sharing program?
CED offers a profit-sharing program where employees may receive a share of the company’s profits, depending on the overall financial performance. This is an additional incentive for employees to contribute to the company’s success.
7. Do CED employees receive paid time off (PTO)?
Yes, CED offers paid time off that accrues over time. Most employees start with at least two weeks of PTO, with opportunities to earn more based on their length of service with the company.
8. Who is eligible for CED’s benefits package?
CED’s benefits package, including health insurance, dental and vision coverage, life and disability insurance, and retirement plans, is typically available to full-time employees. Specific eligibility requirements may vary by location and job role.
9. How does CED’s health insurance compare to other companies in the industry?
CED’s health insurance is considered competitive within the electrical distribution industry. The availability of both basic and supplemental insurance options, combined with profit-sharing and retirement benefits, provides a well-rounded package for its employees.
10. Can employees customize their health coverage at CED?
Yes, employees at CED can choose from a variety of medical, dental, and vision plans that best meet their needs. Additionally, the supplemental insurance options allow employees to tailor their coverage further.
