Physician Benefits

Last Updated: July 2008

Insurance

• Group Term Life Insurance is available to a maximum of $250,000. There is an option to purchase dependent coverage.
• Long Term Disability Insurance pays 60 percent, up to $10,000 per month, if disabled.
• Health and Dental Insurance for doctors and immediate family members.
• Flexible spending accounts including medical, up to a maximum of $3,600 per year and dependent care up to a maximum of $5,000 per year.

Dues/Licenses/Insurance

• The Medical Group pays state and local medical society dues for its doctors on an annual basis.
• The cost of renewing North Dakota and Minnesota state licenses and DEA certificate are paid.
• Malpractice insurance for Medical Group doctors is provided.

Vacation

• Newly employed doctors receive 20 working days of vacation annually, increasing with seniority, to 33 working days.
• Limited opportunity to accumulate unused vacation is also provided.

Sick Leave

• Newly employed doctors receive 45 working days for sick leave the first calendar year of employment(pro-rated) and 30 working days thereafter.
• Doctors can accumulate up to 190.5 working days of full pay sick leave.

Continuing Education/Professional Meetings

• Newly employed doctors receive five working days of time to attend medical meetings during each of the first two calendar years of employment, and 10 working days per year for such purposes thereafter.(There is limited accumulation privilege in connection with meeting time allowances.)
• Continuing education and meeting reimbursement of $4,000 provided annually for continuing education expenses, travel, meals, lodging, registration and books; portion can be used for reimbursement of professional association dues.(Also, an option to withhold up to an additional $5,000 pre-tax dollars.)
• For all doctors, daily noon conferences are held at Sanford Hospital. Teleconferencing is available.

Relocation Expense

• Relocation allowance of up to $10,000 for a single household or $15,000 for a physician couple.

Pension Plan

• One year waiting period for eligibility
• Enter on January 1 or July 1 of eligible year
• Defined contribution plan
• Non-qualified cash plan for physicians under age 35
• Six year vesting schedule
• Balanced funds are managed by several financial managers.
• Minimum of 11 percent of gross salary contributed subject to IRS limitations.

403(b) and 457(b) Plans

• Opportunity to contribute immediately to both a 403(b) and 457(b) plan with Diversified Investment Advisors.

This is a summary of the present employment benefits offered to physicians by Sanford Health. It is not a contract. To the extent that there is any conflict between anything in this summary and any employment benefit plan document, summary plan description or human resources policy, the plan documents or policy will prevail. Sanford Health reserves the right to interpret, modify or discontinue any employee benefit not mandated by law at any time.