As a federal bureau, the United States Mint offers a variety of benefits, including medical insurance, retirement plans, wellness programs and life insurance.
The Federal Employees Retirement System
The Federal Employees Retirement System (FERS) is available for all government employees. FERS consists of a basic benefit plan, social security, and the Thrift Savings Plan (TSP). Both the Mint and the employee contribute to the basic benefit and social security. If an employee leaves federal employment before retirement, the social security and TSP components of the FERS benefits will transfer to their new place of employment.
Thrift Savings Plan
Through the Thrift Savings Plan (TSP), similar to a 401(K), employees can contribute to their retirement plans from pre-tax dollars and transfer money from other eligible savings plans to their TSP account. The government automatically contributes one percent of your salary with additional matching contributions up to a total of five percent.
If disability occurs while employed with the federal government and you are unable to continue working, employees may be entitled to a monthly annuity. Eligibility is dependent on many factors including your length of service within the federal government.
The Federal Employees’ Group Life Insurance (FEGLI) program offers affordable coverage and benefits amounts which the employee shares the cost of a basic plan with the federal government. There are three additional insurance options available (Standard, Additional, and Family) which increases coverage for the employee and/or his or her family.
The Federal Employee’s Health Benefits Program (FEHB) provides a variety of shared-costs plans, which are even more affordable because employees pay their premiums with pre-tax dollars.
Health Insurance options include Fee-for-Service with a Preferred Provider Organization (PPO), Health Maintenance Organizations (HMO), Point of Service, High Deductible Health Plans, or Consumer Driven Health Plans. Typical benefits include, but are not limited to, hospital, in-patient and out-patient, mental health, and substance abuse care. Prescription drug coverage is also included. There are no waiting periods or pre-existing condition limitations under FEHB.
Vision or Dental Insurance
The Federal Employee Dental/Vision Program (FEDVIP) is available to employees eligible to enroll in FEHB and their family members. Premiums are withheld from employees’ salaries on a pre-tax basis.
Flexible Spending Accounts (FSA)
An account where pre-tax dollars are contributed by employees for projected medical expenses. Employees have the option of two different flexible spending accounts: health care and dependent care.
Long Term Care Insurance Program
Long Term Care Insurance offers comprehensive coverage for nursing home, assisted living facility, home health care, hospice and respite care services if you become unable to care for yourself or qualifying family members.
For more information regarding the healthcare and insurance available to Mint employees, visit the U.S. Office of Personnel Management.
Employee Assistance Program
The Employee Assistance Program (EAP) is a program offered to assist employees and their family members manage issues in their work and personal lives. EAP offers assessment and referral services along with short-term counseling. Counseling is available on a voluntary basis to help manage issues surrounding substance abuse, emotional distress, major life events, health care concerns, financial concerns, family/personal relationship issues, and work relationship issues.