Remarkable Benefits

Insurance Benefits

Physicians become eligible for medical, dental, life and disability insurance effective the first of the month following thirty (30) days of employment. The medical plan also covers vision, wellness and pharmaceutical benefits. Dependent coverage is available for employees holding a .6 FTE or more. An opt-out provision is available to those employees with other medical coverage.

Medical Coverage Level
Deductible $400 Individual$800 Family
Out-of-Pocket $2,500 Individual
$5,000 Family
Office Visit Copay $10 Primary Care – VMC Clinic
$30 Primary Care – Non VMC Clinic

Employee medical premium contributions are based on salary level and covered dependents.

Three dental plans are available (one with orthodontia). Employees may elect to cover

dependents at a cost (pre-tax) to the employee. Employees receive a life insurance policy of $15,000, plus $15,000 accidental death and dismemberment (AD&D).

Physicians also receive a life insurance policy equal to two times their base annual salary, and AD&D equal to four times their base annual salary (subject to plan limits).

Physicians receive short and long term disability insurance starting at 70% of their base salary with a 30-day waiting period.

Employees receive a life insurance policy of $15,000, plus $15,000 accidental death and dismemberment (AD&D). Physicians also receive a life insurance policy equal to two times their base annual salary, and AD&D equal to four times their base annual salary (subject to plan limits). Physicians receive short and long term disability
insurance starting at 70% of their base salary with a 30-day waiting period.

Flexible spending accounts are available for employees to fund healthcare and dependent care with pre-tax dollars.

 

Vacation, Sick Leave and Holidays

Please note, all benefits are prorated for part-time physicians. Full-time physicians earn vacation credits as follows:

Years Weeks
1 – 9 years 4
10+ years 5

Vacation is allotted the first year of employment, and begins accruing on the first anniversary of employment.

Physicians earn 72 hours of sick leave each year. Sick hours are allotted the first year of employment, and begin accruing on the first anniversary of employment.

VMC provides 9 eight-hour holidays per year (72 hours): New Year’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving Day, Christmas Eve, and Christmas Day, plus two (2) floating holidays. Holidays are immediately accessible and floating holidays are available after six months of employment.
  

 

Retirement Benefits

VMC offers a top tier retirement program. After three years of service (once you have worked 1,000 hours/year), VMC will contribute 5% of your total compensation (subject to IRS limits) to your 403(b) account with the following vesting schedule:

Years  of Service Vesting Schedule
3 years 30% vesting
4 years 40% vesting
5 years 50% vesting
6 years 75% vesting
7 years 100% vesting

If your earnings exceed the Social Security Income limit for the tax year (set by the IRS) then VMC will increase the contribution from 5% to 10% on any earnings over the SSI limit up to the IRS limit.

In order to assist you in supplementing your retirement savings, VMC offers voluntary 403(b) and/or 457 tax sheltered retirement savings programs. Employees are eligible to participate immediately upon hire. For the 403(b) program VMC offers a 2% match with immediate vesting.


Other Benefits

Professional liability insurance is provided for the physician.
Physicians receive one week of Continuing Medical Education (CME) and a CME stipend each year.

Professional memberships, dues, outside travels and seminars are provided in accordance with VMC’s most current procedures.

Other excellent benefits include: free parking, access to a credit union, discounts at the VMC pharmacy and restaurant, plus other voluntary group benefits. All employees are required to have their paycheck directly deposited to a bank of their choice. Valley Medical Center is a tobacco-free environment.

This is a brief summary of current benefits. For complete details and questions, you are encouraged to contact a Human Resources Benefits Specialist at 425.228.3333, or your Administrator.