This is a summary of benefits available to eligible employees of Speare Memorial Hospital. Employees must be regularly scheduled to work a minimum of 24 hours per week in order to be eligible for part-time benefits and 32 hours per week in order to be eligible for full-time benefits. Employees can enroll in a benefit plan, which will be effective the first of the month following a 60-day waiting period, unless otherwise stated.
This outline is strictly an overview of each benefit plan. Plan contracts and Summary Plan Descriptions outlining full details of the plans are made available to employees and are available from the Human Resources Office. SPDs and a Benefits Summary are provided to each employee at General Orientation. If you have any questions about benefits, please call the SMH Human Resources Office at 603-238-2212.
Health Insurance: Speare offers employees a self-funded health insurance plan with coverage for self and eligible dependents. The plan is administered by Health Plans, Inc, which is part of the Harvard Pilgrim Healthcare. The Harvard Pilgrim network is utilized.
Dental Insurance: Dental insurance is offered through Northeast Delta Dental. SMH has two levels of coverage, Basic and Plus. The Basic Plan pays 100% of diagnostic and preventive services, 60% for basic and restorative services and 50% for prosthodontics. The Plus Plan pays 100% for diagnostic and preventive services, 80% for basic and restorative and 60% for prosthodontics.
Life Insurance and Accidental Death and Dismemberment (AD&D): SMH provides employees with a term life insurance/AD&D benefit equal to one times base salary rounded to the next thousand. This is provided at no cost to the employee.
Supplemental Life Insurance: Employees can select additional term life insurance through our group term life plan. Employees can select coverage up to three times their annual base salary (not to exceed $500,000) with a guarantee issue of $150,000. Employees pay the full cost of the coverage through payroll contribution.
Dependent Life Insurance: Employees can select term life insurance for their spouse and/or dependent children. Dependent children receive $10,000 worth of coverage. Spouses are eligible to receive 50% of the employee’s benefit, with a guarantee issue of $25,000. Employees pay the full cost of coverage through payroll contribution.
Short-term Disability: Employees have the option of enrolling in group STD coverage. Benefits begin after a 30 day waiting period. This plan is offered through an insurance carrier and offers a benefit equal to 70% of the employee’s base salary.
Long-term Disability: Employees have the option of enrolling in group LTD coverage. This plan is offered through an insurance carrier and offers a benefit equal to 60% of the employee’s base salary. The plan provides coverage to a maximum salary of $150,000. There is a 180-day waiting period before benefits can be received. Employees pay the full cost of coverage through payroll contribution.
Pension Plan: Employees can participate in SMH’s Defined Contribution Pension Plan provided they meet the eligibility criteria as defined by the plan document. Plan participation is at employees’ option on the first of the calendar quarter following 60 days of employment. SMH automatically contributes 4.0% of the employee’s annual base salary to the plan and will match the employee contribution dollar for dollar up to an additional 4.5%. Once enrolled in the plan, vesting is immediate.
Tax-sheltered Annuity: Employees can participate in a TSA from their first day of employment without any waiting period. Participation is on an individual basis only. Employees elect to contribute money to a TSA on a pre-tax basis up to certain limits designated by the federal government.
Earned Time: Full-time hourly employees accrue the equivalent of 25 Earned Time days per year (200 hours). Exempt employees accrue an additional 5 days. Earned Time for part-time employees is pro-rated. Accruals increase with seniority.
Medical Flexible Spending Account: Employees can elect to participate in a flexible spending account that enables them to set aside money on a pre-tax basis to pay for eligible out-of-pocket medical expenses for the employee and/or eligible dependents.
Opt Out Medical Flexible Spending Account: If an employee elects not to enroll in health insurance coverage offered by SMH (and can provide proof that they have coverage elsewhere), SMH will contribute to a medical flexible spending account on the employee’s behalf.
Dependent Care Reimbursement Account (DECAP): Employees can participate in a DECAP which allows them to set aside money on a pre-tax basis to pay for eligible dependent care expenses. This could be for childcare or adult day care.
Credit Union: SMH offers employees the ability to set up an account with Granite State Credit Union and make deposits to that account through payroll deduction.
Accident/Illness/Disability Insurance: Employees can purchase additional supplemental insurance programs directly through Colonial Life Insurance. SMH allows employees to pay their premiums through payroll deduction.
Home/Auto Insurance: Employees can purchase homeowners, auto and renters insurance through New England Risk Management, Inc. and pay their premiums through payroll deduction.
Tuition Assistance: Upon completion of six months of employment, employees are eligible to receive reimbursement up to $1000 for part-time employees and up to $2000 for full-time employees in a 12-month period for approved college tuition expenses.
Direct Deposit: For convenience, employees can arrange to have all or part of their bi-weekly paycheck be directly deposited to the bank/credit union of their choice.
Pharmacy Benefits: Employees and household family members are eligible to use the hospital pharmacy to purchase prescription and over the counter medications at reduced prices.
Vision Care Benefits: Employees and immediate family members are eligible to receive a discount off retail prices for contacts and eyeglasses through White Mountain Eye Care.
Health/Lifestyle Benefits: SMH offers health lifestyle benefits to employees. Reimbursement of membership dues, exercise programs, smoking cessation, and childbirth education programs up to $300 per family per calendar year is available for full-time employees. Reimbursement of up to $200 per family per calendar year for part-time employees and those not enrolled in our medical coverage is available.
Please contact the Human Resources Department at Speare Memorial Hospital for more detailed information about any of the benefits listed above.