Baxter provides its employees with benefits such as health care, insurance coverage, and financial and retirement benefits. Its compensation philosophy applies to all its employees worldwide and includes market-competitive pay and individual performance incentives and rewards.
Baxter's health care benefits cover medical, dental and vision care and are available to employees and eligible family members. Insurance coverage includes life insurance, travel accident insurance, and short-term and long-term disability insurance. Employees have the option of purchasing additional insurance at discounted group rates, such as supplemental life, personal accident and long-term care.
Baxter also offers its employees a stock-purchase plan where employees can buy company stock at a 15 percent discount through salary deduction without brokerage fees. It also offers a 401K plan that matches employee contributions up to a total of 6.5 percent and an educational plan that reimburses tuition for undergraduate courses and graduate coursework approved by management. Baxter offers a free lifetime membership to its financial institution, Baxter Credit Union, which offers employees many common banking services free of charge, as well as access to many types of loans and credit..