Resident may choose from four (4) health plans. The plans include a range of deductibles, coinsurance and copays, including a prescription drug benefit. The premium cost is shared between the employee and the Clinic and can be paid with pre-tax dollars through the Premium Conversion Plan. Coverage is effective on the first of the month following employment, if enrolled within 31 days of employment.
Dental Insurance
Resident may choose a dental plan that fits their needs. Coverage is effective on the first of the month following the date of hire, if enrolled within 31 days of employment. The premium cost is paid 65% by the Clinic. The employee's share of the premium is paid through payroll deduction and can be paid with pre-tax dollars through the Premium Conversion Plan. Note: One of the two plans limit services to a specific group of dentists.
Group Term Life Insurance / Additional Voluntary Term Insurance / Travel and Accident Insurance
The Clinic provides a group term life insurance program effective the first day of the month following employment as a benefit status employee. The life insurance amount is a multiple of salary (1.5). The benefit is rounded up to the next $5,000 increment, not to exceed $200,000. Additional term life insurance and voluntary accidental death and dismemberment insurance may be purchased by the employee for themselves, their spouses, and children at reasonable rates. The Clinic provides $150,000 of travel and accident insurance coverage while an employee is traveling on Clinic business.
401(k) Plan
In addition to the retirement plan, Marshfield Clinic has established a tax-deferred savings account. Eligibility requirements are: age 21, and benefit status or scheduled to work 1,000 hours in a year. Upon eligibility, you may elect to set aside up to 100% of your salary on a tax-deferred basis subject to IRS limitations, i.e.; 2017 annual maximum = $18,000. The Clinic matches the first 6% of those savings 50 cents on the dollar. Your money is invested according to the investment options you select. A loan option is also available.
Retirement Plan
Marshfield Clinic fully funds a retirement plan for the benefit of all eligible Marshfield Clinic Staff. Contributions are made annually based on meeting the following criteria: age 21 prior to or as of the last day of the calendar year, worked a minimum of 1,000 hours during the calendar year (based on the paychecks received in the calendar year) and actively employed as of the last business day of the calendar year. An eligible participant will receive a contribution equal to 3% of the participant's compensation, plus an additional contribution equal to 3% of the participant's compensation in excess of the Social Security Wage base. The amount of compensation considered for retirement plan contributions is limited. Marshfield Clinic's compensation limit is reviewed periodically and adjusted at the discretion of the Board of Directors.
Section 125 Medical Flexible Spending Account (MEFSA)
A MEFSA allows the employee to set aside pre-tax dollars to cover medical expenses not payable by insurance, such as the health and dental plan deductibles or co-pays, prescription drugs, eye glasses, etc.
Section 125 Limited Purpose Flexible Spending Account (LPFSA)
This allows an employee to remain health savings account (HSA) eligible and take advantage of an FSA for limited health care expenses.
Section 125 Dependent Care Plan
As with MEFSA, employees may elect to pay for qualifying dependent care expenses with pre-tax dollars. Under both MEFSA and DCP, employees have 31 days to enroll from either the date of employment, assigned benefit status, a qualifying family event, or on the first of each year.
Paid Leave Account
Vacation and short-term sick leave are combined into one paid leave account. The paid leave account is earned on a calendar year basis, based on length of service and average budgeted hours. Paid leave is prorated for part-time employees based on average budgeted hours, any fractional year for new hires, unpaid leaves of absence, while receiving short-term or long-term disability or terminations.
Years of Service: 0 - 9 Total Days: 21
Holidays
Marshfield Clinic observes 6.5 holidays. Holiday time is based on the position's average budgeted week, i.e.; 40 hours per week = an 8 hour paid holiday, 20 hours per week = 4 hour paid holiday. Holiday time is rounded to the nearest half or full day for part-time salaried employees. Holidays are not additional days of vacation or floating holidays unless an employee is required to work on the holiday or is required to be on call on the holiday. To be eligible for holiday pay, you must be in active employment status on the normal workday preceding and following the holiday.
Short-Term (Insured) Sick Leave
Residents are eligible the first of the month following 90 days in a benefit-eligible status. A 70% benefit (based on average weekly salary) is payable after a 7-calendar day elimination period. Maximum benefit period is 180 calendar days. Benefits are subject to approval by the insurance company.
Long Term Disability (LTD)
Residents are enrolled in a long-term disability insurance program. The effective date of coverage is the first of the month following 90 days in a benefit-eligible status. The premium is paid by the Clinic. Benefits begin after 180 calendar days of disability and may continue up to age 65. It provides up to a maximum of 60% of a person's gross income.
Employee Education and Development
Marshfield Clinic intends to support employee development through ongoing education and development activities. In-house training programs are offered in a variety of technical, professional, managerial, and personal development areas. Off-site education opportunities may also be available through the Clinic's meeting and development reimbursement program and tuition assistance program.
Employee Assistance Program (EAP)
Marshfield Clinic staff, employees, and their immediate families may utilize the Clinic's internal EAP for assistance and referral for personal concerns and challenges. The program is voluntary and confidential.
Additional Perks
- Extensive integrated computer technology, including state-of-the-art electronic medical record and electronic prescribing
- Creative services are available to residents/fellows for assistance in design of projects
- A standard 35 percent discount (excluding contact lenses) at Marshfield Clinic Optical Shop
- Eligible to participate in Marshfield Medical Center Credit Union
- Special funds are available for paper presentations in representing their respective program
- Assistance for spouses in finding appropriate job search resources
- Resident Association special activities planned
- Resident all-day workshops
- Resident Well-Being Committee
Housing
Affordable housing is available in Marshfield. The range for rental cost of a two bedroom apartment is $425-$700 per month. A variety of housing is available, ranging from apartment complexes to single houses and duplexes.
This summary is designed to acquaint you with general information about some current employee benefits. More information regarding the benefits are addressed in the Clinic's Policy and Procedure Manual, Employee Handbook, and Summary Plan Documents. Marshfield Clinic reserves the right to revise, supplement, or rescind any policies from time to time as it deems appropriate, in its sole and absolute discretion. Employees will be notified of changes through memos and in-house publication.