CarMax® Benefits

As part of a rewarding career, CarMax provides Associates with a comprehensive and competitive benefits package. See why our Associates love our benefits, below!

Health Benefits

Our Medical, Dental, and Vision Plans provide comprehensive coverage for Associates and their eligible dependents, including domestic partners. Plans include preventive care services and screenings so Associates know their health risks and conditions.

CarMax encourages all Associates to live healthfully. When Associates adopt a healthy lifestyle and use health care effectively, it allows us to continue to offer valuable, affordable benefits.

Medical Plan
aetna

Our Medical Plan offers comprehensive coverage for Associates and their eligible dependents. Associates share the cost of coverage with CarMax. The Preferred Provider Organization (PPO) plan uses the Aetna Choice POS II Plan network. Prescriptions are covered through the Express Scripts network of pharmacies.

The Medical Plan encourages Associates and their families to seek preventive health care services through in-network providers by offering 100% coverage for specified preventive screenings. Most other eligible services are covered by an office visit copay or at 80% of cost when you use in-network providers. Associates and their covered spouses or domestic partners are also eligible for Beginning Right, a maternity health program with up to $150 in participation incentives.

Dental Plan

Our Dental Plan covers preventive, basic, and major services for Associates and their eligible dependents. Associates share the cost of coverage with CarMax.

The Dental Plan is a PPO that encourages Associates and their families to seek preventive dental care services by offering 100% coverage for specified preventive services. Associates use in-network dentists to maximize plan benefits and lower costs.

Vision Plan

Our Vision Plan provides coverage for Associates and their eligible dependents. Associates pay the cost of coverage.

Benefits include an eye exam, frames, and lenses or contacts once every Plan Year. The Plan features an office visit copay and allowances toward other incurred expenses. Associates are encouraged to use network providers to maximize plan benefits at a lower cost.

Additional Wellness Benefits

Employee Assistance Program (EAP)

The EAP helps Associates and their families through many of life's challenges, offering counseling resources for issues like finding dependent care or dealing with divorce, and everything in between. This free and confidential service is available by phone or online 24 hours a day, seven days a week. Legal and financial consultations and resources are also available.

Tobacco Cessation Assistance Program

All active Associates and their spouses/domestic partners are eligible to participate in our Tobacco Cessation Assistance program. The cost of the program is paid by CarMax.

Weight Watchers®

All active Associates and their spouses/domestic partners are eligible for special rates through our Weight Watchers program. The Company will contribute toward the cost of the program for eligible participants. Associates are eligible for financial awards when they reach certain goals. A gym incentive is also available for Weight Watchers members.

Paid Time Off

To strike a balance between personal and work life, Associates are encouraged to take time for rest, relaxation, and personal needs. CarMax offers a variety of paid time off options, depending on status and needs:

Vacation—Hourly, Full-Time Associates
  • Up to 10 days during their first six years of employment
  • Up to 15 days after seven years of employment
  • Up to 20 days after 15 years of employment
Sick Time—Hourly, Full-Time Associates
  • Up to six days per year
Personal Time—Eligible Hourly, Full-Time Associates
  • One day per year
Holidays—Eligible Hourly, Full-Time Associates
  • Up to six holidays per year

Time Away allows salaried Associates to take time off from the demanding, fast-paced work environment for rest, relaxation, or personal reasons. This flexible program enables Associates to arrange for Time Away based on business needs and management approval.

Retirement & Financial Planning

Retirement Savings Plan
T. Rowe Price

401(k) Account—The Retirement Savings Plan provides an individual account where Associates can save money for the future. Associates can contribute up to 50% of pay before taxes are withheld, subject to IRS limits. CarMax makes a matching contribution of $0.50 for every dollar Associates contribute, up to 5% of pay, after one year of employment. T. Rowe Price administers the Retirement Savings Plan. Participants benefit from tax-deferred savings and a reduction in income taxes. The plan offers a diversified range of funds for the investment of contributions.

Retirement Contribution Account —Every March, CarMax may contribute—into an individual T. Rowe Price account—an amount equal to 2% of pay annually for each eligible Associate who has completed one year of employment. This contribution is not contingent on their 401(k) participation. Investment options mirror the 401(k) account.

Employee Stock Purchase Plan
KMX Listed NYSE

After one year of employment, Associates can use the Employee Stock Purchase Plan to purchase CarMax Common Stock through payroll deductions, from 2% to 10% of pay, with a maximum contribution of $7,500 in any one year. We make a matching contribution equal to 15% of their contribution. Stock is purchased each month at the current market price.

CarMax stock is publicly traded on the NYSE as KMX.

Life Insurance and Disability

Life Insurance

CarMax offers Company-paid Basic Life Insurance; coverage is based on Associate's pay. CarMax also offers options for Supplemental Life, Spouse/Domestic Partner Life, Child Life, and Accidental Death & Dismemberment Insurance which Associates may elect to purchase through payroll deductions.

Business Travel Accident Insurance

CarMax pays 100% of the cost to provide Business Travel Accident Insurance for Associates. Benefits are payable in the event of death or dismemberment while traveling on Company business.

Short and Long Term Disability

Our Short Term Disability (STD) Plan provides income protection during absences due to illness, injury, or pregnancy. Benefits are based on length of service, job classification, and earnings. CarMax pays the entire cost; Associates are automatically covered by the plan when eligible.

Our Long Term Disability (LTD) Plan provides income protection for disabilities extending beyond 180 continuous days of absence. Associates pay the cost of the plan through contributions after taxes are calculated.

Tax-free LTD benefits are approximately 60% of earnings less Social Security, Workers' Compensation, and any other work-related benefits. Benefits are generally payable to age 65 if Associates continue to meet the definition of disability.

Smart Savings Benefits

Health Care Flexible Spending Account

The Health Care Flexible Spending Account (HCFSA) allows Associates to set aside a portion of their paycheck on a pre-tax basis for out-of-pocket healthcare expenses.

Day Care Savings Account

The Day Care Savings Account (DCSA) allows Associates to set aside a portion of their paychecks on a pre-tax basis for eligible daycare expenses.

Adoption Assistance

CarMax offers assistance to help Associates build their families through adoption. Benefits include up to $4,000 in reimbursements for adoption-related expenses; reimbursements are generally not subject to income tax. Associates are eligible after one year of continuous, full-time service.

Tuition Assistance Program

We encourage all Associates to pursue education in their field. Courses must be credited, but they do not have to be job-related. CarMax reimburses eligible tuition expenses up to $800 per approved course, with a maximum of $2,500 per year for full-time Associates and $1,500 for part-time Associates.

Associate Discount Program

Associates may purchase vehicles, MaxCare® coverage, accessories, and parts and service at discounts for personal use or use by immediate family members. Associates are eligible to participate in the program after 30 days of employment.

CarMax Rewards

Discounts are available on childcare, fitness memberships, appliances, electronic devices, cell phones, furniture, travel, and more through this online program that saves Associates thousands of dollars every year.

This information is a brief summary of the benefits provided to full-time Associates. Benefits and eligibility may differ by plan or position classification. Detailed information is provided in the Summary Plan Descriptions and other Plan documents. In the event of any discrepancy between this brochure and the Plan documents and/or policies, the Plan documents and/or policies will prevail.

For ten years in a row, CarMax has been named one of FORTUNE's "100 Best Companies to Work For."

CarMax Auto Finance

225 Chastain Meadows Court
Kennesaw, GA 30144
Phone (770) 792-4750
Fax (770) 423-7880

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