Residency Program - Salary and Benefits
July 1, 2009 to June 30, 2010

To help free residents of financial concerns, Saint Raphael's offers a generous and highly competitive salary and benefits package that includes health coverage, malpractice insurance, an educational allowance and four weeks of paid vacation.  We will also provide two white lab coats yearly embroidered with the hospital logo and your name.  Scrubs are available as needed.

Salary

For all Saint Raphael programs, residents receive the following base salaries for academic year July 1, 2009 to June 30, 2010:

PGY 1      $50,939
PGY 2      $52,707
PGY 3      $54,558
PGY 4      $56,472
PGY 5      $58,427
PGY 6      $60,486

Benefits

The benefit plans described below represent programs and policies in place as of January 1, 2008.

Malpractice insurance

During your employment at Saint Raphael's, we will pay for, and provide, all professional liability insurance. When terminating employment at the Hospital, the Resident Physician is automatically covered by reporting endorsement (tail) coverage for any claim made against him/her arising from services rendered while an employee at the Hospital.   Details are included in the Resident Physician Employment Agreement, which each resident signs annually. 

Book allowance

Generally between $100 and $400 per academic year.

Health benefits

The Saint Raphael benefit program allows residents to choose the benefit plans that best meet their needs.  You must actively enroll in each of the health plans during your enrollment period.  Once completed, your elections will be effective on your date initially on your date of hire.     

Following your initial enrollment period during orientation, elections can be changed once each year during the annual open enrollment period.  If you have a qualified life status change (such as marriage, divorce, birth or adoption, loss of other coverage, etc.) during the year changes must be made within thirty (30) days of the qualifying event.

Medical insurance

You may elect medical insurance coverage for yourself and eligible dependents, from one of the following three plans - Anthem BCBS POS, Anthem BCBS HMO and Anthem BCBS POE.   You will receive enrollment materials during orientation, which will explain the plans in detail and provide contact numbers for further information.

Dental insurance

You and your eligible dependents may be covered by one of three dental programs offered through Delta Dental:

• Option 2, which pays 100% for preventive care and 80% or 50% of reasonable and customary care after a $50 deductible for all other services.
• Option 1, which pays 80% for preventive care and 80% or 50% of reasonable and customary care after a $50 deductible for all other services.

• Basic plan, which pay 80% for preventive care and 80% for reasonable and customary care after a $50 deductible for basic restorative services.  Major restorative expenses are not covered.

Life insurance

All benefit-eligible employees are provided with Basic life insurance equal to 1-times base annual salary (to a maximum of $200,000) at no cost.   In addition, benefit-eligible employees are offered the opportunity to purchase supplemental life insurance at 1-times to 5-times base annual salary to a maximum of $500,000.  Guaranteed issue amount = $300,000.

Dependent life insurance

If you elect supplemental life insurance for yourself, you may purchase supplemental life insurance for your eligible spouse and/or dependent child(ren):

• Spousal policies are offered in $5,000 increments to lesser of 50% of employee supplemental life amount or $250,000. Guaranteed issue is $30,000.
• Dependent child policies are offered in guaranteed amounts of $10,000.  Children age 2 weeks to 6 months, the policy is $1,000.  

Long-Term disability insurance

Participation becomes effective the date you complete the appropriate application form.  This coverage will be paid for you while you are employed by Saint Raphael's.  Upon leaving Saint Raphael's, you will have the option of continuing coverage on a contributory basis.  Benefits begin after you have been disabled for 180 days and equal $2,500.00 a month.  This policy integrates with Social Security, Workers' Compensation and other disability benefits.

Short-term disability insurance

Should you become disabled by illness and are unable to perform your job responsibilities, Saint Raphael's will continue your salary for up to six months.  However, a statement of disability form must first be received from your physician.  This protection begins immediately upon employment.

Retirement program

Saint Raphael's retirement program consists of
1. Defined Contribution Pension Plan
2. 401(k) Savings Plan with employer matching contribution

You will be enrolled in the Defined Contribution Pension Plan on the January 1st or July 1st closest to the completion of one year of service with 1,000 hours. You will receive vesting credit for each year for which you complete at least 1,000 hours of service and will be 100% vested after completing five (5) years of credited service.

You are eligible to participate in the Saint Raphael 401(k) Savings Plan immediately upon hire, and you are immediately vested in your own contributions. Saint Raphael's will begin to match your contribution on the 1st of the month following the completion of one (1) year of service. Saint Raphael's will match your contribution, dollar for dollar, up to a maximum of 3% of your base annual salary. You will be 100% vested in the Saint Raphael employer contribution after completing three (3) years of service.

Other programs

Employee Assistance Program: Confidential counseling, assistance and referral services are available to employees (and their dependents) experiencing personal problems, such as alcohol or drug abuse, emotional difficulties, legal concerns, domestic violence and more.

Employee Neighborhood Home Ownership Program: Provides $5,000 of financial help to qualified employees who want to buy, and live in, a one- to four-family home within the Saint Raphael neighborhood (North Frontage Road to Elm Street, and Dwight Street to Norton Street). Before you are eligible, you must work for Saint Raphael's for at least two years and meet several other guidelines.

As of October 2008