Dec 4, 2023

5 financial well-being perks Medtronic offers employees

From making college more affordable  to insurance coverage for your furry friends, Medtronic offers financial perks to care for you and your loved ones.

Medtronic is committed to supporting employees’ whole selves, including their physical, emotional — and financial well-being.

Benefits vary based on where in the world employees live, but here are some financial perks offered to U.S. employees:

  1. Support for your financial well-being

Take care of your whole self, including your financial well-being, with 401(k) matching. Medtronic matches up to 50% of the first 6% you save in your 401(k) plan, and offers retirement benefits and an Employee Stock Purchase Plan (ESPP). With ESPP, employees can buy Medtronic stock at a 15% discount and can contribute between 2-10% of eligible earnings on an after-tax basis through payroll deductions. 

  1. Advance your expertise with tuition assistance

For employees looking to develop new skills or stretch into a new role, Medtronic offers assistance in several ways, including tuition reimbursement. Through Medtronic Advancement Pathways and Skill-building (MAPS), 100% of tuition is covered — and paid for upfront. Employees can choose from more than 80 undergraduate degree programs from top-tier academic institutions that specialize in learning for working adults. For schools outside of the MAPS network of schools, Medtronic offers capped tuition reimbursement.

  1. Ease the financial burden of paying for college

Through the Medtronic Scholarship Program, employees’ children can receive financial assistance as they pursue post-secondary education, such as college or a vocational program. The program invests in high school students who are dedicated to leadership, service, and action that positively affects others. Scholarship awards are valued between $500 and $1,500.

  1. Coverage for your furry friends

While most of us would do just about anything for our pets, those unexpected veterinarian bills can add up. Employees can sign up for pet insurance and get reimbursed for vet bills when their pet is sick or injured — and help take the financial worry out of vet visits.

  1. Matched giving for causes you care about

Through the Medtronic Foundation, employees can donate to causes close to their hearts. Every dollar contributed to an eligible nonprofit will be matched, up to $5,000, in contributions per employee per calendar year. Each year, the Medtronic Foundation also promotes special 2:1 Matched Giving events by which employee donations to eligible nonprofits can be tripled — and have greater impact. 


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