SVHC Benefits Summary

This is a summary of benefits available to eligible employees of Southwestern Vermont Health Care (SVHC) and its subsidiaries.

All benefits are subject to change. Benefits requiring a payroll contribution from employees will be identified. Employees may select them at their option.

Payroll contributions are based primarily on the costs of the benefit and an employee's Full-Time Equivalency (FTE) status. Employees must be at least a 0.5 FTE to be eligible for most benefits.

Finally, there is a waiting period of 30 days then the first of the month following one's date of hire before one can participate in the benefit plan, unless otherwise stated.

This outline is strictly a summary of the benefits SVHC offers.  More information is available by calling the SVHC Human Resources office at (802) 447-5223.

Health Insurance
Employees can select from one of two health insurance plans for them and/or their dependents. Employees must make a payroll contribution for health insurance coverage. SVHC pays for part of this coverage.

In 2007, SVHC contributions are subject to WellPro participation, a program to encourage healthy living.  Employees who fully participate in WellPro will be eligible for lower health care personal payroll contributions than those who do not.

Dental Insurance
Employees may select one of two dental plans for them and/or their dependents. Employees are obligated to make a payroll contribution for dental insurance coverage. SVHC pays for part of this coverage.

Life & Accidental Death and Dismemberment Insurance
SVHC provides eligible employees (0.5 FTE through 1.0 FTE) with one times their annual salary of term life insurance and AD&D coverage. Employees can select supplemental life insurance and AD&D coverage up to five times their base annual earnings.

Dependent Life Insurance
An employee can purchase life insurance for a spouse or children at minimal cost through payroll deduction. An employee's spouse is covered for $10,000 and each child from age six months to age 19 is covered for $5,000.

Short-Term Disability (STD)
Employees can choose one of two STD plans. Both plans provide up to 26 weeks of disability pay. The Regular plan provides 35% of wages, and the Plus plan provides 60% of wages. Both programs requires a payroll contribution.

Long-Term Disability (LTD)
SVHC provides a long-term disability program (LTD) that pays 60% of wages for up to 24 months. Only full-time employees who have elected short term disability are eligible to participate in the plan. LTD benefits begin after six months of continuous disability.

Pension Plan
The SVHC Pension Plan is a defined benefit plan that guarantees a benefit at normal retirement date (age 65) for any employee who has participated and vested in the plan. Employees must be 21 years of age, have a least one year of service, and have worked at least 1,000 hours during any calendar year. The employee contribution is 1.5% of  gross salary. The contribution accumulates with interest and is refundable when an employee leaves SVHC.

Employees become vested in the pension plan when they have worked for at least 1,000 hours a year for five years without a break in service. 

Earned Time
SVHC employees receive Earned Time Off instead of vacation, holiday, sick, and personal time. Employees accrue hours of Earned Time Off based on their FTE level and a schedule of accrual. Employees can build up a maximum of one and one-half times the annual accrual of ETO days. If an employee reaches that amount and does not use ETO days, then accrual will stop until the level of ETO is reduced below the maximum.  ETO days will increase by one day for each year of employment between years six and ten to a maximum ETO level of 32. If an employee works less than a full-time schedule, he or she will earn ETO at a lesser level as defined by SVHC policy. Employees start to accrue ETO days when they begin work at SVHC.

Health Care Reimbursement
A special provision of the Internal Revenue Code allows employers to set up Health Care Reimbursement Accounts (HRA) for employees. An HRA allows employees to set aside money through payroll deduction on a pre-tax basis to pay for health care expenses. By contributing to a Health Care Reimbursement Account, employees can completely eliminate taxes on salary used for health care expenses. Any money not used within the calendar year will be lost.

Dependent Care Reimbursement Account (DECAP)
The Dependent Care Reimbursement Account (DECAP) can save taxes on day care expenses for a dependent child under age 13. Employees can also cover day care expenses for a disabled spouse or other disabled dependent.

Tax-Sheltered Annuity (TSA)
Employees can participate in individual TSA's. Participation can occur from the first day of employment. SVHC employees participate on an individual basis by putting pre-tax dollars into an investment vehicle of their choice that is generally established and arranged for such through SVHC payroll. Once in any calendar year, employees can change the amount they contribute. Taxes will be incurred upon withdrawal. Various packets are available in the Human Resources office.

Childcare
Employees have the opportunity to utilize both our on- and off-campus SVHC facilities for childcare pursuant to the rules and regulations and capacity of such facilities. The Learning Tree is available for dependent children ages six weeks to five years and school-age children during vacation periods and other times on a drop-in basis as capacity allows.

Credit Union
Our on-campus credit union offers employees share draft accounts (checking), saving accounts, loans, and other valuable and convenient financial services.

Direct Deposit
For convenience, employees can arrange for part or all of their biweekly paycheck to be directly deposited in the Credit Union or bank/credit union of their choice.

Tuition Assistance
After six months of employment, benefit-eligible employees are eligible to apply for tuition assistance for continuing education. For any additional information, please refer to the Tuition Assistance Policy located in the SVHC Intranet or see a member of the Education Department.

Activities
This employee-operated group sponsors trips, discount tickets, system picnics, barbecues, social functions, and numerous other activities of interest to employees. For upcoming events, refer to the SVHC Intranet, Keep In Touch, and SVHC bulletin boards.

Employee Discounts
 All SVHC employees receive discounts at the Putnam Café and the Employee Cafeteria. Discounts are also available at local health & fitness centers.

Employee Assistance Program (EAP)
A confidential counseling referral and assessment service is available for all employees.