Insurance is an mandatory right of each and every employee working in an organization. At Lockheed Martin Health Insurance the health and well being of employees are the priority. Employees are greatest assets off the company and each and every company should always consider well being of its employees.
In this article we wil discuss in detail about all aspects of this insurance and will make you aware of its core concept and benefits.
understanding Lockheed Martin Health Insurance
In this insurance each and every employee is provided with wide range of services and benefits from time to time to enhance their personal and professional lives. There are a series of services that are provided to the employees so that they can work efficiently that will increase their working capacity and behaviour, that alltogether contributes in bringing effectiveness that increases the annual turnover of the company and also helps employees to increase their profit and standard of living.
Most of the employees are the people of USA then and widespread approach is there to tackle the needs of every employee working in an organizaton. None of the employees should feel aparted, there is equality and everyone is equal.
healthcare benefits
There are many healthcare benefits in Lockheed Martin Health Insurance. As per an estimate of 2023, $1 billion dollars was spent on this program or the wellness of the employees which covers employee well being and preventive care. With regular intervals many changes occur in their services as part of their facilities providing to the employees by keeping an eye on competitors.
There are many expansions in family-buildinng benefits, increased physical, speech and occupational therapy coverage, enhanced hearing aid and chiropractic coverage, added supplement plans, critical illness, 24 hour accident and hospital indemnity, new market prescriptions drug programs has taken place.
benefits of lockheed martin insurance
There are many benefits of Lockheed Martin insurance that are as follows:
wellness incentives
This incentive allows employees to earn dollars that go into their health saving accounts to use it for medical and helthcare expenses mow or to save for future. Lockheed martin offers two ways to earn a wellness incentive. First, is to take an online health survey that produces a health score and provides access to helpful tips and online courses on variety of topics such as sleep, stress, meditaton and helps to make meaningful and lifestyle changes to improve their overall health.
Employees also receive biometric screening at Wellness Centres with primary care physician, that helps to identify health conditions such as high blood pressure, high cholestrol and allow them to make adjustments to their lifestyles.
health and wellness centres
Wellness and healthcare facilities are also offered to all the employees who work internationally. A health assessment is a preventative health check that uses medical and non-invasive tests to give a current health and well-being overview. As part of these assessments, employees benefit from a year of health and well-being support from medical experts to help them achieve their long-term health and fitness goals.
ockheed Martin offers a flu vaccination program that delivers the vaccine to employees on-site; nearly 9,000 employees participated in the program during 85 events at 52 sites in 2023. Automated external defibrillator (AED) devices are also available and managed at over 700 Lockheed Martin sites in the U.S.
assistance programs
Employees Assistance Programs [EAP] provides free and confidential support as well as emotional support 24/7. This plan covers resources for employees and their families in the area of emotional well being, financial counselling, mediation services, adult, child and elder care support, and educational resources.
providing outreach and education
Keeping the leadership and employees up to date on the most recent health information is a key to effective personal and professional decision-making strategies. The wellness team provides presentation across the business areas on topics such as COVID-19, Mpox, emotional well being and mental health. More than 40 presentations contributed to increased employee awareness and assisted with business area responses to health concerns.
Flexible schedule
Variety of work schedules offer additional flexibility to the employees. Offerings include standard five-day / 40-hour work week; however, most employees work a four-day / 10-hour work week or a nine-day / 80-hour two-week schedule. As appropriate, many employees can also work fully remotely from home or on a hybrid schedule that blends working on-site and remotely.
paid time off
Comprehensive paid time off programs provides flexibilty to take time off and includes generous carry over feature for unused balances over year to year.
calculating medical expenses for lockheed martin employees.
As a Lockheed Martin Employee you must know how much you will pay for health insurance. You should know all clear cut information regarding deductibles, out-of-pocket expenses, premium, co-insurance etc.
Assumptions:
- Example employee is eligible and enrolled in LM HealthWorks
- In network
- Family coverage elected
- $3,000 total out-of-pocket maximum ($1,500 per person)
- $1,500 total annual deductible ($500 per person)
- Lockheed Martin employee needs to have a diagnostic X-ray
- Example employee is the first member of the family to incur medical costs for the enrolled year
| Employee | Aetna | |
| Cost of X-ray | $5,000 | |
| – Deductible | $500 | N/A |
| = Portion Applied to Coinsurance Requirement | $4,500 | |
| x Coinsurance Percentage | 15% | 85% |
| = Coinsurance Amount | $675 | $3,825 |
| Total Owed (deductible + coinsurance amount) | $1,175 | $3,825 |
conclusion
So in this article we came to know that each and every employee of the organization has the right of insurance whether health or any other insurance. There is no discrimination in providing the health insurance facilities to the employees, everyone is entitled with all types of health insurance coverage, medical facilities and all other medicinal coverage.
Lockheed Martin provides all basic healthcare facilities irrespective of any discrimination and all clear cut information regarding deductibles, out-of-pocket expenses and all other charges. It has been a top-notch association in providing employees all benefits and secures their individual and family’s future and by making them financially and mentally capable. It has made reduced the burden of employees of increased costs health insurance premiums and equally divided all facilities to people of USA, Moreover the 24/7 facility and flexibility ensures that every employee should receive facilities at any time and at any place.
