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Family Medicine Benefits and Compensation

Graduate Medical Education - Fort Smith

Mercy Fort Smith GME Comp and Benefits Summary

Annual Compensation

  • PGY 1 = $55,133
  • PGY 2 = $56,787
  • PGY 3 = $58,491

CME

  • $1,500 through Residency Program. Additional financial assistance may be provided in specific circumstances.

Health Care Coverage

  • Participation in the Mercy co-worker cost share health care plan in accordance with Mercy Hospital Fort Smith policies for individual and eligible dependents. Mercy Health Fort Smith Communities offers a comprehensive health care plan that is effective on the first day of employment and provides coverage to eligible dependents at Resident Physician’s Cost.

Dental Coverage

  • Participation in the Mercy co-worker cost share dental plan in accordance with Mercy Hospital Fort Smith policies for individual and eligible dependents. Mercy Health Fort Smith Communities offers a comprehensive health care plan that is effective on the first day of employment and provides coverage to eligible dependents at Resident Physician’s Cost.

Vision Coverage

  • Participation in the Mercy co-worker cost share vision plan in accordance with Mercy Hospital Fort Smith policies for individual and eligible dependents. Mercy Health Fort Smith Communities offers a comprehensive health care plan that is effective on the first day of employment and provides coverage to eligible dependents at Resident Physician’s Cost.

Confidential Counseling and Behavioral Health Services

  • All residents will have access to the Mercy Employee Assistance Program (EAP) which includes 24/7 call centers, as well as personalized assistance regarding addictive behaviors, grief, stress, work/life balance, etc.
  • Mercy Hospital Fort Smith will also provide referrals for counseling and psychological support services for residents in circumstances, including, but not limited to physician impairment.

Life Insurance and Accidental Death and Dismemberment

  • Eligible to receive coverage effective ninety (90) days after employment. Currently, it is offered at no expense to Resident Physician. For full-time residents/fellows, insurance coverage is equal to one time the annual Total Compensation. Supplemental life insurance coverage is available, at Resident Physician’s cost.

Long Term Disability Insurance

  • In accordance with the contract, Resident Physicians are required to maintain a long-term disability insurance policy during their employment at Mercy. Mercy provides an individual disability policy for each resident. The policy is issued with a monthly benefit of $2,500 when they begin the program regardless of health. An option to increase the coverage with an additional monthly benefit up to $5,500, depending on specialty is available without regard to current medical conditions on the annual policy anniversary. Although Mercy pays the premium, the policy is owned by the Resident Physician and upon completion of training the Resident has the option to continue the policy at the discounted rate.

Medical and Dependent Care Spending Accounts

  • Eligible to participate in the flexible spending accounts in accordance with the Mercy Hospital Fort Smith policies. Flexible spending accounts offer tax savings by allowing you to set aside money out of your paycheck on a pre-tax basis to pay for eligible healthcare and/or dependent care expenses.

Vacation/Sick Time

  • Resident Physicians are eligible for Three (3) weeks (Monday-Sunday) or fifteen (15) days of (Weekdays) of vacation per year; and One (1) week (Monday-Sunday) or five (5) days (weekdays) of sick leave per year. Vacation time or sick time, which is not utilized in a year, may not be carried over to subsequent years.

Leaves of Absence

[All leave of absences is issued in accordance with Federal law, Mercy Policies or Program Director, whichever applicable.]

  • Family Medical Leave
  • Military Leave
  • Personal Leave
  • Educational Leave

Retirement Plan

  • Resident Physicians are eligible to participate in Mercy’s MyRetirement 401(k) Plan through Fidelity.

ACLS/BLS

  • Course registrations paid for.

Professional Liability

  • Mercy Fort Smith agrees to purchase or provide, in Mercy’s sole discretion, medical professional liability coverage either through a funded self-coverage program or commercial insurance, in either case, subject to the terms and conditions thereof, covering Resident Physician’s participation in the Program in the minimum amounts of $1,000,000 per claim and a minimum aggregate amount of $3,000,000, which shall be maintained on either
  • i. a “claims made” basis, or
  • ii. an “occurrence” basis, both of which shall cover Resident Physician against claims arising out of the rendering of or failure to render the services and obligations that are within the scope of Resident Physician’s duties specified in their Agreement. Hospital shall be named as an additional insured under any commercial policy. In the event such medical professional liability coverage, is maintained on other than an occurrence basis, Hospital will procure continuing coverage by obtaining subsequent policies which have a retroactive date of coverage equal to the retroactive date of the insurance policy in effect as the Effective Date of the Resident Physician’s Agreement, by obtaining an extended reporting endorsement (“tail”), applicable to the coverage provided to Resident Physician and maintained by Hospital during the term of this Agreement, or by such other method reasonably acceptable to the Hospital covering Resident Physician against claims arising out of the rendering of or failure to render the services and obligations that are within the scope of Resident Physician’s duties specified in their Agreement.

Other

  • Other benefits offered and reviewed at time of the residency interviews