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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. There is a 60-day waiting period before employees can enroll in a benefit plan, 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 are provided each employee at General Orientation. If you have any questions about benefits, please call the SMH Human Resources Office at 603-238-2212.
Part-time Benefits
- Medical Insurance Basic Plan
- Voluntary Medical Flexible Spending Account
- Dependent Care Flexible Spending Account
- Pension Plan
- Earned Time
- Tuition Assistance
Full-time Benefits
- Medical Insurance ? Basic or Plus Plan
- Dental Insurance ? Basic or Plus Plan
- Opt Out Flexible Spending Account
- Voluntary Medical Flex Spending Acct
- Dependent Care Flex Spending Account
- Life Insurance/AD&D
- Supplemental Life Insurance
- Dependent Life Insurance
- Long-Term Disability
- Pension Plan
- Tuition Assistance
- Earned Time
Health Insurance: Employees can select from a choice of two Speare Memorial Hospital self-funded health insurance plans with coverage for self and eligible dependents. The 'Basic Plan' features a $15 co-pay and a $500 deductible (deductible is discounted by 50% if you use SMH for services). This plan is provided at no cost to the employee for single coverage. The second option, the 'Plus Plan' features a $10 co-pay and a $250 deductible. This plan requires a minimal contribution from the employee for single coverage. Two person and family plans are offered with different employee contribution amounts.
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. Basic Plan coverage is provided by SMH at no cost to the employee. The Plus Plan requires a minimal contribution from the employee for single coverage. Two person and family plans are offered with different employee contribution amounts.
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 $100,000. 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.
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.
Short-term Disability: Employees have the option of enrolling in group Short-term Disability coverage. The plan is offered through an insurance carrier and offers a benefit equal to either 60% or 70% of an employee?s base salary. There is a four week waiting period before benefits can be received. Employees pay only 20% of the cost of the premium for this benefit; the hospital pays the remaining 80%.
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 4.5% of the employee?s annual base salary to the plan and will match the employee contribution dollar for dollar up to an additional 4%. 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 28 Earned Time days per year (224 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 up to $1000.00 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.
Section 125 Premium Conversion: Employees may elect to have their payroll contributions for medical and dental insurance taken out of their paychecks on a pre-tax basis.
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 The Traveler?s Insurance Company and pay their premiums through payroll deduction.
Tuition Assistance: Upon completion of six months of employment, employees are eligible to receive reimbursement up to $2000 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 are eligible to use the hospital pharmacy to purchase prescription and over the counter medications at reduced prices.
Please contact the Human Resources Department at Speare Memorial Hospital for more detailed information about any of the benefits listed above.
