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Benefits
We are powered by the innovation and entrepreneurial spirit of our employees who span the globe, covering four out of the seven continents.
Our employees add value to our customers, respect our communities, and meet high performance and safety expectations. In return for their hard work and commitment, we offer competitive salaries along with a comprehensive offering of benefits. Benefit programs differ depending on the location of employment. As a Cabot employee, you can be assured that you will have the tools and resources you need to thrive. We encourage you to complete the application process to learn more about the specific benefits offered in your region.
We are proud to provide an array of benefits to our full-time employees in the United States.
Health and well-being
Medical
Choice of three national medical plans: Open Access Plus (OAP) HSA, OAP Plus and OAP IN Plans. For expatriates, the Cigna Global Health Plan is available. All plans offer 100% coverage for in-network preventive care services.
This link leads to the machine readable files that are made available in response to the federal Transparency in Coverage Rule and includes negotiated service rates and out-of-network allowed amounts between health plans and healthcare providers. The machine-readable files are formatted to allow researchers, regulators, and application developers to more easily access and analyze data.
Prescription drug coverage
Three-tiered prescription drug plan included with medical insurance. The cost is based on generic, preferred brand or non-preferred brand tiers. A discount mail order program is also available.
Dental
Choice of two dental plans: Basic and Premium. Both offer 100% coverage for diagnostic and preventive dental care, although they have different calendar year and orthodontia maximums. The deductible is $50 for individuals and $150 for families. For expatriates, an international plan is available.
Vision
Choice of two vision plans: Basic and Premium. Both offer coverage for retinal imaging, exams, lenses and frames, although they have different copays and dollar allowances. Frames are covered in full if purchased from Target or Sears Optical.
Medical travel assistance
Medical coverage and assistance if you and your family travel on an approved business trip outside your country of residence or go on a permanent assignment.
Hospital indemnity and critical illness
Purchase coverage to receive a cash benefit if you have a hospital stay or develop certain critical illnesses.
Health care advocacy service
HealthAdvocate™ is a resource to help you and your covered dependents navigate the health care system and maximize your benefits, resolve claim issues and find providers.
Well-being Program
As part of our commitment to the health and financial security of our employees, the Well-being Program provides you and your family with programs and resources to help you be your best.
Financial security and resources
401(k) plan
Contribute 1 – 50% of your annual salary on a pre-tax, after-tax or Roth basis, up to IRS limits. We match dollar for dollar up to the first 6% of contributions, and we also contribute 4% of eligible pay to your account.
Health savings account
Available only to employees enrolled in the OAP HSA Plan, we contribute $500 for Employee Only coverage and $1,000 for coverage for Two or More for qualified health care expenses (the amount is 50% if hired or enrolled after July 1). Combined employee and Cabot contributions can total $3,450 (Employee Only) or $6,900 (Two or More). If over age 55, an additional $1,000 can be contributed.
Health care flexible spending account
Set aside $100 – $2,650 per year on a pre-tax basis to pay for many eligible out-of-pocket health care expenses. The IRS allows you to carry over up to $500 of any funds that remain in your account at the end of the year.
HSA-compatible health care Flexible Spending Account
Available only to employees enrolled in the OAP HSA Plan, you can set aside $100 – $2,650 per year on a pre-tax basis to pay for limited out-of-pocket health care expenses, including dental and vision services.
Dependent care Flexible Spending Account
Set aside $100 – $5,000 per year on a pre-tax basis to pay for eligible child or elder care expenses.
Employee stock purchase plan
Purchase Cabot common stock through convenient payroll deductions.
Basic life insurance
1x annual base salary, rounded up to the next thousand up to a maximum of $1,500,000.
Supplemental life insurance
Purchase $10,000 increments up to a maximum of $800,000. Guarantee Issue: lesser of 4x salary or $500,000.
Dependent life insurance
For a spouse, purchase $10,000 increments up to a maximum of $150,000. Guarantee Issue: up to $30,000. For a child, purchase $5,000 or $10,000 in coverage.
Business travel accident insurance
Provides coverage up to 4x your annual base salary to a maximum benefit of $1,500,000 in the event of an accidental death or dismemberment while traveling on company business.
Paid parental leave
New parents, regardless of gender, are eligible for paid leave after the birth or adoption of a child.
Short-term disability salary continuance
Pays a percentage of your weekly base salary based on years of service for length of disability up to a maximum of 26 weeks.
Long-term disability
Pays a percentage of your monthly base salary, the lesser of 60% or $15,000 for the duration of your disability up to age 65.
Supplemental long-term disability
Purchase an additional 6 2/3% of your monthly base salary for a total of 66 2/3% up to a maximum of $20,000.
Voluntary group accident insurance
Purchase $10,000 increments up to a maximum of $500,000. You can elect employee or family coverage.
Work life programs
Employee assistance program
LifeWorks provides you and your family with counseling services, advice and resources on a variety of topics.
Financial counseling services
AYCO provides you with professional telephonic financial education and guidance to address your individual financial needs.
Commuter benefits program
Set aside money on a pre-tax basis to pay for public transportation and parking expenses when you commute to and from work. We contribute up to $105 pre-tax toward transit passes.
Legal services
Hyatt Legal Plans provides coverage for a wide range of legal matters with a network attorney of your choice.
Educational financial assistance
We reimburse 100% of tuition costs and laboratory fees upon satisfactory completion of approved courses of study.
Identity theft protection
InfoArmor provides you with protection from fraud and identity theft, and coverage in the event that your identity or personal information has been compromised.
Paid parental leave
New parents, regardless of gender, are eligible for paid leave after the birth or adoption of a child.
Long-term care
Genworth Life Insurance Company provides custodial care benefits in the event of illness or injury where a stay in a long-term care facility or if home care nursing services are required.
College coach
Helps you and your family members establish good study habits early, navigate through saving and paying for college and the college admissions process.
Back-up care program
Employees have access to subsidized back-up care services. Also available is access to nannies and sitters for evening and weekend care, elder care resources and pet care, discounted tutoring, tuition discounts and preferred enrollment at Bright Horizons centers.
Funeral planning services
Everest provides funeral planning services and is an advocate on behalf of you and your family to make the most informed decisions about all funeral-related issues
Auto, home, pet and umbrella liability insurance
Purchase auto, homeowner’s, pet insurance and protection from financial loss due to liability claims at group rates.
Each program listed in this section is administered in compliance with an official document or policy. In the event of a discrepancy with this summary, the plan document or policy will govern administration of these programs.
award-winning benefits program
2023 Cigna Healthy Workforce Designation
In 2023, we were recognized by Cigna as a recipient of their gold level Healthy Workforce Designation for our commitment to the health and well-being of our employees.
The Cigna Healthy Workforce Designation, evaluates organizations based on the core components of their well-being program, including leadership and culture, program foundations, program execution and whole person health. We thank Cigna for commending the work that we have done and continue to do to create a workplace that promotes a healthy work culture.
2022 Cigna Healthy Workforce Designation
In 2022, we were recognized by Cigna as a recipient of their gold level Healthy Workforce Designation for our commitment to the health and well-being of our employees.
The Cigna Healthy Workforce Designation, formerly known as the Cigna Well-Being Award, evaluates organizations based on the core components of their well-being program, including leadership and culture, program foundations, program execution and whole person health. We thank Cigna for commending the work that we have done and continue to do to create a workplace that promotes a healthy work culture.
Cabot Receives Well-being Award
In 2021, we received the Cigna Well-being Award in recognition of our commitment to the health and well-being of our employees.
Cabot Receives Best Practices Award
In 2018, we received the NEEBC Best Practices Award in recognition of our “You Matter” Well-being Program.
Join the Cabot Team
Cabot invests in its employees. Cabot shows unconditional support and willingness whenever an employee faces problems or difficulties inside or outside of work. Cabot values its employees and the employees value Cabot.
