BENEFITS & COMPENSATION
We've Got You Covered!
At Credit Acceptance we are committed to providing unique benefit plans that are comprehensive and competitive. Full time team members are eligible for most benefits on the first day of the month after their start date.
Medical Plan (includes Vision)
Dental Plan
Life Insurance
Disability Plan
401(k) Retirement Savings
Flexible Spending Accounts
Paid Time Off
Tuition Assitance
Employee Assistance Plan (EAP)
Medical Plan
Three medical plan options, offering you an extensive selection of doctors and hospitals, are offered through Aetna Open Choice PPO. Vision coverage is part of the Medical Plan. We offer options in order to meet your individual health care needs. You choose the option that best suits the health care needs of you and your family.
Dental Plan
Two dental plan options for you to choose from depending on the level of protection you need from the cost of dental expenses. The dental plan includes orthodontia coverage for children. Both options are PPO plans from MetLife.
Life Insurance
A Basic Life Insurance and Accidental Death & Dismemberment benefit through the Standard Insurance Company, at no cost to you! The basic benefit is $15,000 of life insurance, plus $15,000 of AD&D insurance for each team member. You have the option of purchasing additional life insurance coverage for yourself, your spouse, and your children.
Disability Plan
Disability plans designed to help you meet your financial needs if you become unable to work due to illness or injury or following delivery of your baby. We offer a company-paid short-term disability plan payable at 60% of the base weekly salary. We also offer a long-term disability plan in the event you are unable to work for more than 26 weeks.
401(k) Retirement Savings
Our retirement plan allows you to save on a pre-tax basis, realizing current tax savings and tax- deferred accumulation on the earnings growth. Credit Acceptance matches $0.50 on each $1.00 you contribute, up to 6% of your pay (so team members get 3% of their pay in match). Matching contributions will vest immediately. We offer a variety of investment options with varying levels of risk and rates of return.
Flexible Spending Accounts
Credit Acceptance offers both a Medical Reimbursement Account and a Dependent Care Reimbursement Account.
Paid Time Off
Our Paid Time Off bank offers you the flexibility of choosing how you use your time. There are no restrictions on whether you use it for vacation, sick day, personal time or a planned stress reduction day. It is accrued evenly per pay period over the calendar year, and is based on year of service. Other paid time off includes paid holidays, bereavement pay, and jury duty.
Tuition Assistance
We recognize and appreciate individual efforts of team members to continue their education. This program is directed toward acquiring skills and knowledge that will contribute to your professional development with the Company. Credit Acceptance will reimburse you for tuition expenses up to $3,000 per year.
Employee Assistance Plan (EAP)
An EAP helps team members balance work and life. The plan is a confidential resource for team members who need assistance with concerns related to:
- Selecting child care or elder care
- Life improvement/personal achievement
- Stress and anxiety with relationships
- Emotional well-being
- Financial or legal concerns
- Grief and loss
There is no cost to the team member for these services, which are available anytime (24/7) by telephone or via the Web. There is also coverage for up to 3 face-to-face assessment or counseling sessions, per incidents.