BENEFITS
Residents are eligible for certain benefits as employees of Valley Medical Center. Benefit information as provided on Valley Medical Center’s website may differ from the information listed below.
Coverage and premium payments under specific plans are subject to alteration from time to time by the Medical Center or the insurance provider. Specific benefits questions should be directed to the residency administration office.
Vacation – Residents will be allotted up to 19 days of vacation to use only during each training year of residency, per their annual agreement and policy of the American Board of Family Medicine (ABFM). The Director or designee must approve vacation time in writing at least 3 months before the planned vacation. If vacation days are not used during the term of the annual residency agreement, these days will be forfeited – they do not carry over to any following year of residency, as directed by the ABFM.
Sick Leave – Residents will be allotted 9 1/2 days of sick leave during each year of residency, per their annual Agreement. Any unused sick time may be extended into another resident contract year. There is no cash value to sick days and they can be used only during the time of employment as a resident physician.
Holidays – Valley Medical Center recognizes 7 paid holidays per year: New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Christmas Eve, Christmas Day. These holidays are recognized based on the annual schedule issued by the hospital (i.e. when one of these holidays falls on a weekend, an adjacent weekday is designated as the observed holiday).
Floating Holidays – In addition to the above 7 holidays, 2 floating holidays are also allotted at the beginning of each year of residency. Floating holidays must be used during the year of residency in which they are allotted, and they must be taken on a scheduled workday and must be approved in advance. First-year Residents may use Floating Holidays prior to completion of six months of employment.
Bereavement Leave – In the event of a death of an immediate family member (as defined by the Human Resources policies of Valley Medical Center), the employee is allowed up to 3 consecutive weekdays off, with pay for regular work hours lost (up to 8 hours per day) during the 3- day period. Additional unpaid time may be granted per policies of Valley Medical Center.
Health Insurance Coverage – Group Medical Insurance is provided to employees holding a budgeted FTE of .6 or more (24 hours/week). Insurance coverage begins immediately upon the first day of residency and premium costs may be offset by wellness incentives offered by Valley Medical Center.
Dental Insurance – Current coverage is available through Delta Dental Service. A variety of plans are available, including one with orthodontia benefits.
Wellness Programs – Valley Medical Center offers employees many programs to promote wellness and a healthy lifestyle, including access to an on-site fitness center. Costs for these programs may be subsidized and are subject to change without notice.
Employee Assistance Plan (EAP) – Valley Medical Center employees have confidential access to a variety of counseling, financial, legal consultation and self-help programs where costs for these services may be covered as outlined in hospital benefits.
Group Life Insurance – Current coverage is available through Valley’s designated carrier in the amount of $15,000, with an AD&D benefit. Additional life insurance and AD&D may be purchased.
Long Term Disability Insurance – Group coverage is available through Valley’s designated carrier for long term benefits after a 180-day waiting period to age 65. Additional long term coverage may be purchased.
Short Term Disability Insurance – Employee paid coverage is available with a 14-day elimination period for a duration of 3 months or 6 months.
Flexible Spending Accounts – Are available to benefit-eligible employees to fund healthcare and dependent care expenses on a pre-tax basis.
403(b) and 457 Voluntary Retirement Savings Plans – Employees may immediately participate and defer compensation to both plans.
For every $1.00 an employee contributes to his/her 403(b) account up to 2% of the employee’s pay, Valley Medical Center will contribute a matching $1.00 to the employee’s account. Vesting for employer contribution is in accordance with the Plan document.
Professional Liability Insurance – Provided for each Resident position.
Lab Tests – Each calendar year, full and part-time employees are entitled to one CBC, UA and lab portion of a pap smear on physician’s orders without cost if done through the VMC lab. The VMC Radiology Department offers a free annual chest x-ray to all employees.
Smart Device Reimbursement – Residents are eligible for a one-time reimbursement of up to $300 for the purchase of a smart device for use during residency.
Food Stipend – Residents receive meal stipends for on-call and in-hospital duties to use for meal purchase in the hospital cafeteria. The stipend amount is based on class level and the assigned monthly rotations and average cost per meal; however, stipends will be calculated as a total over the academic year for each class level and will be automatically added to one paycheck each month. The monthly stipend for R1s and R2s is approximately $178.00, and for R3s is approximately $114.50. These amounts are subject to change without notice on this site.
Continuing Medical Education – First-year residents may request up to three days of CME time and may be reimbursed up to $300. Second- and third-year residents may request up to five days of CME time a year. Our second-year residents may be reimbursed up to $500, and our third-year residents may be reimbursed up to $1,000. Any unused CME time or dollar amount will not rollover to the following year. Formal CME activities are encouraged but funds may also be used for personal reference materials. (Of note: Step/Level 3 exam, as well as the Board exam, are reimbursed outside of the provided CME.)
This position is a salaried, exempt position.
This document is a convenient generalized summary and in no way replaces or supersedes the Summary Plan Description for each benefit. Valley Medical Center is a tobacco-free environment.