Physician Benefit Summary

Physician Employment - Benefits Summary

Health Insurance (WellMed Employee Health Plan)

  • Effective date of employment
  • EPO Plan - Exclusive Provider Organization

Includes Vision discounts for no additional charge

  • Provider and dependent premium paid by employer
  • PPO Plan - Provider and dependent premium supplemented by employer

Dental Insurance - The Guardian

  • DMO Option - Dental HMO
  • PPO/Indemnity Option
  • Premiums paid by employee
  • Same effective dates as Health Insurance

Flexible Spending Accounts - ADP, Inc.

Reduce your taxable income by participating in the Medical Reimbursement Account ($5,000 annual max) or in the Dependent Care Account($5,000 annual max/$2,500 if married but filing single).

Life Insurance - The Standard Life Insurance Company

  • Effective with the first date of employment
  • Premium paid by the employer
  • Coverage calculated at one times annual salary up to $200,000
  • Spouse Coverage- $5,000 Child(ren)- $2,000

Long Term Disability Insurance - The Standard Life Insurance Company

  • Effective date of employment
  • Premium paid by the employer
  • Payments begin on 91st day of disability - 60% of salary including bonuses up to $12,000/month
  • $10,000 Guarantee Issue- additional $2,000 must give evidence of insurability

Additional Buy-up Life Insurance (Post tax deductions) - The Standard Life Insurance Company

  • Employees may purchase additional term life insurance in the following increments:
  • Employee: $10,000 increments, $100,000 guarantee issue, to a maximum of $300,000
  • Spouse: $10,000 increments, $10,000 guarantee issue, max of 1/2 the amount purchased on self
  • Child(ren): $2,000 increments, $2,000 guarantee issue, max of $8,000

Additional AFLAC Products

  • Accident Insurance Plan - Pre-tax deduction
  • Cancer Insurance Plan - Pre-tax deduction
  • Short Term Disability Plan - Post-tax deduction

401(k) Retirement Plan - Transamerica

  • Participation can begin on the first entry date following one year of employment
  • Contributions are 100 % vested when participation begins
  • Employer matches as follows: 100% of the first -3%, 50% of the next 2%
  • Participant can contribute up to a maximum of 25% of salary to the max of $13,000 per plan year.
  • "Catch-Up" Contributions up to $2,000 available for participants age 50 and above.

PTO

  • 20 days per year
  • Plus additional time for each completed year of service up to 10 years maximum
  • Prorated during the first year of employment
  • Only maximum of 40 hours will rollover to the next year

Sick Days

  • 5 sick days per year, prorated during the first year of employment
  • Unused sick time will accrue, to a maximum of 240 hours

Employee Assistance Program (EAP)

Choice CARE Program benefit provided by Minter & Associates, P.A. offers up to 8 hours of free counseling per family member or per problem, per year. Qualified staff is available to offer 24-hour confidential assistance with personal, financial, legal, stress or family problems.

Bonus Opportunity

Providers have an opportunity to share in the profits of the clinic, based upon a number of factors which included patient satisfaction surveys, peer review, production, participation on committees within the group, etc.

Professional Expense Fund (PEF)

$5,000 for physicians/ $2,500 for physician assistants and nurse practitioners per calendar year to include funding for CME, professional licensing, dues for professional organizations, continuing education and cellular phone expense. Benefit will be prorated during the first year of employment. There is no carryover of dollar allowance from year to year.

CME

5 days per calendar year, prorated during the first year of employment. There is no carryover of CME time from year to year. CME is not part of the PTO package.

Day Care Discount

Employees will receive a 10% discount on day care tuition at any La Petite Academy.

Security Service Federal Credit Union

  • Employees and their families may automatically qualify for membership.
  • Services include direct deposit, low-rate loans, investment programs, etc.

AAA(Auto Club)

Join AAA through corporate affiliation for only $48 per year. This is a $20 savings!!!

TLC- The Laser Center

Laser vision correction benefit savings for employees and immediate family members.

Fitness Centers

Racquetball & Fitness Center, Women's Super Fitness, Family Fitness Unlimited, and Home Court America offer discounts on membership for WellMed employees.

Sam's Club and Costco Membership

Employees have the opportunity to join Sam's and/or Costco Wholesale Clubs through the corporate affiliation.

Group Discount Tickets

Movie Tickets to Regal Cinema Theaters, Fiesta Texas, Spurs games