Largest provider of
3333 Quality Drive
Rancho Cordova, CA 95670
CEO: Roger Valine
Vision Service Plan is the nation's largest provider of eyecare
coverage. It offers thousands of companies a range of vision
programs, from plans that meet overall eye health and wellness
needs to plans that cover advanced vision correction procedures,
Vision Service Plan has 46 million members
nationwide or 1 in 7 people in the U.S.
VSP has contracts with 25,000 clients,
including 228 of the Fortune 500 companies and over 100 health
plans. The company has a network of 23,000 doctors.
The company reported revenues of $2.2 billion
1955: With a dream to provide high-quality,
cost-effective eyecare benefits, a group of optometrists in Oakland,
California form the first prepaid, not-for-profit vision benefit.
1960s: As companies and government agencies recognize the need
to include vision care in their employees' benefits packages,
VSP (Vision Service Plan) experiences rapid growth and strong
partnership with doctors. The VSP concept is so successful that
other states use it as a model. In 1968 the company moves its
headquarters from Oakland to Sacramento.
1970s: VSP opens its own optical lab in Sacramento, CA to better
serve its patients and doctors with a wide-range of products
and specialized service. Today VSP works with a lab network of
more than 300 facilities nationwide.
1980s: VSP grows nationally and establishes its roots as a leader
in eyecare wellness benefits as organizations in many industries,
including education, government, high-tech and banking quickly
see the value of vision care.
1990s: Vision care benefits grow increasingly popular as employers
recognize the competitive advantages of providing their employees
a complete benefits package. VSP's plan popularity begins to
grow at spectacular rates. The number of members increases eleven
times since 1980 to over 31 million.
1992: VSP launches Altaireyewear, a private label frame company
that sells its products exclusively to VSP doctors.
1993: VSP moves to its current headquarters building in the Sacramento
1997: VSP launches Sight for Students. A charity that delivers
free eyecare services to thousands of low income children who
need vision care, but can't afford it.
Health and Well-Being - No Cost
Our employees' health and well-being are a top priority at VSP,
and that's why we provide four medical choices which include
two options that are at no cost to our employee. Employees may
cover their domestic partners (opposite and same sex) under any
of the health programs.
We also offer dental, vision and an extensive Employee Assistance
Program at no cost to our employees.
Generous Retirement and Savings Plans
Through our retirement and savings plans, employees can prepare
for a comfortable financial future. VSP contributions to the
retirement plan are guaranteed at 5% of your annual earnings,
plus up to an additional 10% variable contribution (based on
*Employees are eligible to begin voluntary, pre-tax contributions
the first of the month following their date of hire (must be
At no cost to the employee, life insurance is provided for three
times their annual base salary, not to exceed $500,000. Employees
may also elect to purchase supplemental life insurance for themselves,
their spouse and eligible dependent children.
Accidental Death & Dismemberment
Insurance - Eligible employees
are covered for up to three times their annual base salary, not
to exceed $500,000, depending on the extent of injury.
Short-Term Disability - Eligible employees receive a short-term
disability benefit of 60% of their salary and may elect to "buy-up"
additional coverage to a maximum 70% benefit.
Long-Term Disability - Eligible employees are provided
coverage at a benefit amount of 50% of their salary and may elect
to "buy-up" additional coverage to a total benefit
level of 67%.
Travel Accident Insurance - Eligible employees are covered
for $35,000 to $500,000 depending on their annual base salary.
Time Off Benefits
Essentially, a first year employee could be eligible for more
than four weeks of paid time off (not including company holidays).
Vacation - Employees earn time off at the rate of two
weeks per year for the first five years of employment, three
weeks per year after five years of employment, and four weeks
per year after ten years of employment.
Supplemental Vacation - After six months of employment,
employees will be credited with 40 hours on the following January
Sick Leave - Employees earn at a rate of one week per
Holidays - Employees are paid for eight calendar holidays.
Employees also receive three floating holidays per calendar year
after six months of employment.
Paid Volunteer Program - Employees may take one paid day
(or equivalent number of hours) per year for community service
Our education reimbursement program
is designed to encourage and assist our employees in the pursuit
of education that enhances their career development. Eligible
employees are reimbursed for tuition, books, parking, and lab
fees up to $2,500 per year for approved courses. For qualified
employees, VSP will reimburse 50% of applicable MBA degree fees
above the annual $2,500 standard limit.
Employee Bonus Program
All employees are eligible for a holiday and incentive bonus.
Historically, the total amount equates to at least four percent
of employee's salary.
Other Employee Perks
In addition to the programs described above, employees have access
- Flexible-spending accounts
- Wellness program
- Credit union
- Direct deposit
- Annual family picnic
- Annual dinner dance
- Onsite yoga
- Onsite Weight Watchers and Toastmasters
- Personal services such as mail, onsite ATM, car wash/detailing,
Updated May 23, 2006