Benefits at Huntsville, Alabama
Nektar strongly believes that our people are essential to our success. This philosophy is revealed in our competitive benefits package, designed to improve employees' lives both on and off the job.
These benefits only apply to Nektar Therapeutics Huntsville employees. Each plan or program has its own eligibility requirements. Nektar reserves the right to change or end its benefits plans or programs at any time. The below list and any descriptions of Nektar benefits on subsequent pages in this website are not intended as a summary of the plans or policies or as a description of their key features or details. In case of any conflict or question, the official plan documents or applicable policies, as amended from time to time, will govern.
Our medical plans are designed to provide employees and their eligible family members with extensive coverage and protection against certain medical expenses. Employees may choose from either a preferred provider organization (PPO) or Consumer Driven Health Plan (CDHP) with an associated Health Savings Account (HSA). Our provider has the most widely accepted plans provided in Alabama.
In addition, Nektar offers a range of other medical and health-related benefits and programs, depending on location and medical plan, such as coverage for preventive care services, prenatal programs, and disease management programs.
Nektar dental options are designed to help employees pay for the costs of dental care for themselves and their eligible family members. Preventive, restorative, and surgical services, as well as orthodontia, are covered at varying levels. Participants may take advantage of reduced out-of-pocket costs when they use dentists in a nationwide network of participating providers.
Nektar offers eye care coverage which provides affordable, high-quality eye care coverage and offers the largest network nationwide.
Health Care Flexible Spending Account - This benefit allows employees to put aside pre-tax dollars each month up to the IRS limits for use on eligible out-of-pocket health care expenses in tax-free dollars.
Dependent Care Flexible Spending Account - This benefit allows employees to put aside pre-tax dollars each month up to the IRS limits for use on eligible child and elder care expenses per household in tax-free dollars.
Transit and Parking Accounts - This benefit allows employees to put aside pre-tax dollars each month up to the IRS limits for use on public commuting options and parking related to the use of public transit. Nektar contributes 50% of transit costs via your Transit Flexible Spending Account.
Health Savings Accounts – This benefit is for employees participating in Consumer Driven Health Plans (CDHP). Nektar contributes 50% to the HSA account. This benefit allows employees to put aside pre-tax dollars each month up to the IRS limits to pay for eligible health expenses with tax-free dollars.
Holidays and Vacations - Nektar will recognize 10 paid holidays each year as designated by the company. Nektar offers Personal Time Off (PTO) beginning at four weeks (20 days) as a new hire for vacation, sickness, or other personal time off.
Wellness Program - Nektar offers a corporate wellness program that includes a variety of health and wellness initiatives such as gym memberships (50% subsidy in Alabama), on-site massage, yearly free flu shots, weekly fresh fruit delivery, fitness classes, as well as financial and health related seminars.
Service Award program - Nektar recognizes years of service at every 5 year increment level with a personalized desk award and monetary gift award.
Employee Assistance Program – Nektar offers an employee assistance program (EAP) to employees and their eligible dependents, free of charge. The EAP, offers a completely confidential counseling and referral service for issues. In addition, Concierge services are available to all employees through CONCERN EAP, this service is designed to solve problems and provide a helping hand with everyday demands.
Group Term Life - Nektar covers all eligible employees with a benefit of 2 times annual salary up to a maximum of $850,000 in the event of death. Employees may also purchase additional life insurance for themselves, their spouse, and children.
AD&D - Nektar provides accidental death and dismemberment coverage at 2 times your annual salary with a pro-ration scale for vision loss or dismemberment due to accidents. Employees may also purchase additional AD&D insurance for themselves, their spouse, and children.
Short Term and Long Term Disability Plans - Nektar offers both Short Term and Long Term disability plans that protect against lost wages when employees are unable to work due to illness, injury, or pregnancy.
Business Travel Accident Insurance – If Travelling on Company business, Nektar covers employees with a benefit of 2 times annual salary up to a maximum of $500,000 in the event of an accident or death.
Long Term Care – Employees may purchase Long Term Care insurance which offers financial protection against the potentially high costs associated with chronic or long‐term medical or mental conditions.
Retirement Savings Plan - Subject to limits under the federal law, the Nektar 401(k) plan allows employees to contribute from 1% to 60% of their eligible salary on a pre-tax basis or post-tax under the ROTH 401(k) option with the "catch-up" benefit available to those age 50+. Nektar provides a discretionary company match at $2000 (pro-rated on a quarterly basis for new hires) for participation with an additional $1 per $1 match up to $4000 (maximum $6000) per year. Match is calculated and paid into the pre-tax 401(k) plan to eligible employees at the end of each year. Employees may participate upon hire if they did not exceed the IRS limits for the plan year.
Employee Stock Purchase Plan (ESPP) - The ESPP is an opportunity for employees to purchase Nektar common stock at a discounted rate of at least 15% through payroll deductions.