Benefits At Altera

We aim for optimal health and well-being. Our benefits and wellness philosophy encourages a culture of wellness because our success depends on all of us being at our best. We offer competitive benefits packages including, medical, dental, and vision coverage, as well as pre-tax commuter and dependent care benefits.

Health

All regular United States (US) employees working at least 20 hours per week are eligible to participate in the Altera Employee Benefits Program. Coverage in most benefit plans begins with your date of hire. You may cover eligible dependents in the medical, dental, and vision plans provided you have completed enrollment within 31 days from your date of hire or during the annual open enrollment period, usually held in the fall.

Altera provides you the opportunity to select the benefits coverage that best fits your needs.  California employees have a choice of two Kaiser medical plans, an HMO and a high deductible health plan (HDHP) and two Aetna plans, a PPO and a HDHP. Employees outside of California have a choice of medical coverage between Aetna’s PPO or HDHP.  Both high deductible health plans come with a health savings account to which Altera makes an annual contribution.

Along with health care, Altera provides you with a wide array of benefit options.

Wellness

We value the health and vitality of all employees and their families and we have on-site resources to aid in this effort. San Jose employees have access to an on-site fitness center, and free biometric, wellness and ergonomics screenings. We also conduct a wide range of health and wellness classes and seminars.

Financial Security

Altera provides a variety of programs to help you maintain financial security during different stages of you and your family’s life. Retirement savings, an employee stock purchase plan, disability, life insurance and accident insurance are just a few examples of benefits Altera offers that provide additional financial security.

 

Flexible Spending Accounts (FSAs) allow you to set aside a portion of your income, tax-free, to help pay for eligible healthcare, childcare, and elder care expenses incurred during the plan year (January 1st to December 31st).

 

We offer two types of FSA accounts:

  • Health Care FSA-for-out-of-pocket health care expenses for you and your eligible dependents
  • Dependent Care FSA-for-eligible-day-care expenses for children or dependent elders

 

Health Savings Account (HSA) are available to you in two of our medical plan options.

HSA is a tax-advantaged bank account that can be used to pay for qualified health expenses tax free. The account belongs to you and any money left in your account carries over from year to year. It remains your money even if you change health insurance, jobs, or retire. Both you and Altera may contribute to your HSA.

HSA account holders have the option of electing a limited purpose FSA to use for their dental and vision expenses.

Learning and Development

Altera encourages a culture of learning, and offers comprehensive learning and professional development opportunities, tools, and resources. This includes tuition reimbursement programs, innovation forums, online books, leadership development, and a variety of professional development programs.

Quality of Life

Altera encourages employees to strive for a healthy balance between work life and family life.  We offer many different perks and benefits that enable you to revive and tend to family needs that enhance the quality and happiness of your life.