Time Off (Compensated):
▪ Vacation: Five (5) weeks per fiscal year as per employment agreement. Work week defined as the number of days normally worked by Physician during any week. Time not taken does not carry over to next fiscal year. Vacation days are prorated based upon hire date.
▪ Holidays: 7 days – does not impact vacation time.
▪ Illness, Injury or Incapacity: Full-time physicians accrue up to five (5) paid Extended Illness days per contract year. Unused days carry over to maximum of 520 hours. ▪ Paid time is available after six months of full-time employment:
Maternity/Paternity/Adoption:
Full-time – 160 hours
Part-time – 80 hours
▪ Will be paid at time of birth or finalized adoption. This will be applied before Illness pay or vacation pay.
Basic Life & AD&D
▪ Eligible on the first day of the month following 30 days of continuous part-time or full-time employment.
▪ Policy equals two times annual base pay (up to $1,000,000).
▪ No enrollment necessary. Beneficiary information needs to be provided on the MyBenefits portal.
▪ Age reduction applies at age 70.
▪ Imputed income recognized.
Long Term Disability Insurance: Updated 1/1/2024
▪ Eligible after 30 days of continuous full-time employment. No enrollment is required.
▪ Provided at no cost.
▪ Payable on the 91st day of disability if approved by LTD carrier.
▪ Benefit appeals 60% of monthly base pay up to $16,000 per month.
Supplemental Individual Disability Insurance:
▪ Eligible to enroll during the next open enrollment period (if full-time).
▪ Requires approval from Supplemental LTD company after completion of an enrollment.
▪ Pays in addition to the Group LTD plan providing a benefit up to 75% of total compensation.
Continuing Medical Education (CME)
▪ One work week each fiscal year. Prorated during first year of employment.
▪ $5,000 allowance per fiscal year for attendance of CME meeting. Prorated amount if part-time. Unused allowance does not rollover.
▪ Physicians who start prior to January 1st will receive full annual amount or $5,000. Those who start on or after January 1st will receive half of the annual amount or $2,500.
Malpractice Coverage
▪ Wellstar provided occurrence-based coverage at no cost to Physician.
Dues
▪ Up to $1,000 per contract year for professional dues, if full-time. Prorated amount for part-time Physicians.
▪ Physicians who start prior to January 1st will receive full annual amount or $1,000. Those who start on or after January 1st will receive half of the annual amount or $500.
Reimbursements
▪ Reimbursement for board certification/recertification, DEA, Georgia medical license and city/county business license, etc.
Retirement Plans
403(b) Retirement Savings Plan information can be found on page 25 of Benefits-at-a-Glance (2024). In addition to the 403(b) plan, you are eligible for the following retirement plans:
Deferred Compensation Plan – 457(b):
▪ Eligible to enroll the first day of employment. Deferral begins month following enrollment.
▪ Maximum annual employee contribution of $23,000 in 2024. Limits subject to change according to IRS Regulations.
▪ No Wellstar matching contribution.
▪ May contribute a percentage of bi-weekly salary or flat dollar amount each pay period.
▪ Investment options identical to 403(b) investments