How We Help Mayo Clinic Employees Maximize Their Benefits Package

As an employee of Mayo Clinic, you know that your company appreciates their staff. It’s no surprise that their employee benefits package offers a variety of valuable financial, healthcare, and insurance benefits. As a dynamic and evolutionary company, the Mayo Clinic benefits package is competitive and lucrative for many employees.

But just because you have access to these benefits doesn’t mean you are using them to their fullest potential. At Security Financial Management, we have in-depth knowledge of Mayo Clinic’s benefits and we specialize in helping Mayo Clinic employees make the most of their company’s retirement plan and other benefits. 

Key Benefits Of Mayo Clinic’s Benefits Package

Here are the highlights of the benefits that the company offers its employees:

  1. Retirement Savings Plans: Defined benefit plan, 401(k), and 403(b) plans administered by Fidelity Investments. Mayo Clinic offers matching benefits starting at 50% on your first 4% contribution and increasing with years of service up to 100% on your first 4% contribution.
  2. Health Insurance Plans: Multiple cost options so you can choose what’s best for your family’s health and finances. 
  3. Flexible Spending Account (FSA): Healthcare and dependent care spending accounts
  4. Dental: Delta Dental
  5. Vision: Avesis
  6. Mayo Reimbursement Account (MRA): Mayo Clinic offers an annual $1,140 employer contribution that can be used toward dental and vision expenses. 
  7. Medical Expense Reimbursement Plan (MERP): Annual employer allotment of $10,000 per staff member for reimbursement of medical and dental expenses for certain levels of their health plan.
  8. Insurance: Life, family, accidental death and dismemberment, disability, long-term care, legal
  9. Other Benefits: Supplemental Retirement Plan (SRP), income tax preparation, paid time off, benefits for professional development, scholarships for dependents, adoption assistance, and more!

* To see more detailed information about the benefits Mayo Clinic offers their employees, visit either of these 2 links below:

https://jobs.mayoclinic.org/benefits/

https://www.mayo.edu/pmts/mc1000-mc1099/mc1090-108.pdf?_ga=2.195192684.1541035799.1505320336-1283712471.1501611849

How We Can Help

We can help you read the fine print and choose benefit options that align with your overall financial strategies so you can make progress toward your goals on the fastest and most secure path possible. You already have these benefits in your arsenal, so why not use them to their fullest potential? We can help you make that happen! 

At Security Financial Management, we have helped many Mayo Clinic employees make the most of the company’s retirement plan and other benefits. As independent financial advisors familiar with the plan, we’d like to share our recommendations for how to maximize your Mayo Clinic company benefits. If you have questions, please call Terry George at 507-216-6089 or email him at Terry@SFMadvisorgroup.com today! 

About Security Financial Management

Security Financial Management is an independent financial services firm dedicated to delivering exceptional service built on reliability and trust. With 3 locations in Central Florida and 1 in Rochester, MN, SFM has been partnering with clients for over 25 years, providing comprehensive financial planning and acting as a personal CFO. To learn more about Security Financial Management, connect with them on LinkedIn.

Advisory services offered through Investment Advisors, a division of ProEquities, Inc., a Registered Investment Advisor. Securities offered through ProEquities, Inc., a Registered Broker-Dealer, Member, FINRA & SIPC.

Security Financial Management is independent of ProEquities, Inc.