Holiday Alert: Many Champlain Valley Physicians Hospital offices and clinics will be closed for Good Friday on April 18. Laboratory and pharmacy hours may be affected. View Holiday Hours & Closures. As a reminder, our Emergency Department is always open, 24/7, for emergency medical care.

Compensation

Learn more about the benefits and compensation package offered to our Family Medicine residents.

Benefit Time
Retirement & Welfare Benefits
Miscellaneous Benefits
Compensation

 

Click here to view the ABFM exam eligibility requirements.
Click here to review our Drug and Alcohol Abuse policy.
Click here to view our GME policies and procedures.
Click here to view Resident Employment Agreement.

 

Benefit Time

Benefit Time      
Paid Time Off - PTO All regular full-time Resident Physicians. Eligible upon date of hire The Resident shall be entitled to up to fifteen days (15) of vacation time annually (from date of hire) to be taken in 5 day blocks.  Unused vacation time off does not roll over to the following acedemic year and hours will be reset each year.  The timing of the time off shall be governed by the program policies and shall require approval of the Program Director, so as not to intrefere with the completion of the residents duties hereunder and the provision of health care services to patients.  Please note that there are rotations that do not allow time off during that rotation.  A resident who fails to use all of their vacation time or who leave the program during the term of their agreement for any reason is not entitled to be paid for unused vacation time.  Time off allowed resets each July 1st.
Sick, Emergency, Bereavement All regular full-time Resident Physicians. Eligible upon date of hire. The Resident shall be entitled to up 5 floating days annually (from date of hire) to be used for the purpose of illness, emergency or bereavement.   These days are to be used in 8 hour blocks.  This time will reset each year.  A resident is not entitled to be paid for any unused sick, emergency or bereavement time.

 

Retirement & Welfare Benefits

Supplemental  Tax Deferred  Annuity Plan – 

403(b) Program and Roth 403(b) Program

Voluntary  Program

Matching  Program		 All regular full-time Resident Physicians. Immediately. 

To receive CVPH's match, the employee must meet the following criteria:
- 1 year of service, and
- 1,000 hours worked during the first 12 months of service or any subsequent anniversary year.		 With the Supplemental Tax Deferred Annuity Plan:

-The employee must be enrolled and complete a voluntary salary reduction agreement.
-The employee may contribute any dollar amount to a mutual fund product up to 75% of gross wages or the maximum set by law, whichever is less.
-Upon meeting the eligibility requirements, Champlain Valley Physicians Hospital matches the employee’s contribution into the tax-deferred annuity at the rate of $0.33 1/3 for each dollar contributed. 
 The match applies to a maximum of 6% of the employee’s gross salary contributed and is vested to the employee immediately. 
-CVPH contribution amount based on years of service:

      Years                           Max Employee                      % Rate                          Max CVPH
    Of Service                       Contribution                           Match                           Contribution 
      1 – 10                                  6%                                   33 1/3%                                2%
   
- The employee can invest employee/CVPH contributions in a fund of the employee’s choice.
-Traditional 403(b) deductions are tax-free and are taxed at the time of withdrawal.
-Roth 403(b) deductions are taxed and are tax-free at the time of withdrawal.
Note:  All contributions are subject to the limits and caps on income imposed by the IRS.
Defined Contribution Pension Plan All regular full-time Resident Physicians. Eligible upon meeting the following criteria:
-1 year of service
-1,000 hours of service during the first 12 months of service or any subsequent anniversary year.		 CVPH offers a defined contribution pension program with
• Automatic enrollment after meeting eligibility requirements.
• 100% vesting after completion of 1,000 hours in each of three years (do not need to be consecutive).
• CVPH base contribution (based on gross earnings) regardless of employee contribution:

     Years of Service                             Amount
             1 – 10                                             3%
      
Note:  All contributions are subject to the limits and caps on income imposed by the IRS.
403(b) Tax  Deferred  Annuity  Catch-up  Provisions All regular full-time Resident Physicians. Employee age 50 and older. Employee turning 50 or older in the calendar year may contribute an extra amount to their 403(b) account.  The amount for 2023 is $7,500.  The IRS annually determines the allowable maximum amount.
Health and Welfare Benefits    
Health  Insurance  All regular full-time Resident Physicians. Eligible for enrollment:
- First of the month following date of hire.
- Open enrollment in the fall for an effective date of January 1.
- The employee may also enroll at any time to correspond with a change in status or loss of other coverage.		 CVPH offers 2 PPO and 2 high deductable health insurance plans. 
Please refer to the 2024 Benefit Guidebook for the comparison of coverage.
A premium increase may occur effective January 1 each year.
Health Savings Account All regular full-time Resident Physicians who elect CVPH Employees' high deductible health insurance plan. Eligible the first of the month in which the employee is enrolled in the high deductible health insurance plan and does not have other first dollar coverage. The Health Savings Account (HSA) plan administrator is Health Equity.  CVPH will fund the employee’s health savings account in the amount equal to one third (1/3) of the annual health insurance deductible applicable to the employee’s coverage election, paid in twelve equal monthly payments.

For the regular full-time and regular part-time employee newly hired, the first years’ CVPH contribution is prorated from the first of the month following date of hire until December 31. 

For more information regarding the health savings account refer to IRS publication 969 and Form 8889.
Flexible  Benefit Plan All regular full-time Resident Physicians. Eligible first of the month following date of hire.

- Open enrollment is in the fall for an effective date of January 1.

- Changes in family situation may allow limited changes.  See Human Resources for additional information.		 The Flexible Benefit Plan is a benefit program to help the employee defray the cost of health insurance premiums, qualified medical expenses (in accordance with IRS Code, Section 125 for the employee and his/her dependents), and qualifying dependent (child or elder) care expenses.

CVPH offers two options (A, B). The employee will select one of the options.

A.    1 Person, 2 Person or family coverage of the current health insurance plan offered. Please refer to the 2024 Benefit Policy Guidebook for cost information.

OR
B. Benefit Amount - $1,500.00 annually.  The benefit amount may be used for the following CVPH sponsored plans:
   - Delta Dental Insurance Plan      - Health Flexible Spending Account (FSA)
   - VSP Vision Insurance Plan       - Dependent Care FSA
   - Taxable Cash


For the regular full-time employee, the first years' benefit amount offered is prorated from the first of the month following date of hire to December 31st. 
Flexible  Benefits Con't All regular full-time Resident Physicians. Eligible first of the month following date of hire.

- Open enrollment is in the fall for an effective date of January 1.

- Changes in family situation may allow limited changes.  See Human Resources for additional information.		 The employee may also elect the following pre-tax deductions on a pay period basis.

Health Flexible Spending Account (FSA) - to a maximum of $3,200, including the allocation of the CVPH benefit amount for Health FSA. You may carryover up to $610 of unused funds into
the next plan year.

Dependent Care FSA - to a maximum of $5,000 annually per household.  In the case of married individuals filing separately, the maximum is $2,500 each.
 
Life Insurance / AD&D  Insurance All regular full-time Resident Physicians. Eligible first of the month following date of hire. CVPH provides group term insurance:
- Life Insurance = 2x Base Annual compensation (excluding premium pay)
- Accidental Death Insurance = 2x Base Annual Compensation as above.
- Life Insurance maximum of $1,000,000 without proof of insurability.

Please refer to the Life Insurance Certificate for Dismemberment benefit schedule.
 
Long Term Disability Insurance All regular full-time Resident Physicians. Eligible the first of the month following date of hire. Long-Term Disability is a continuation of disability insurance benefits for the employee who remains disabled after the 6 months of New York State Disability coverage expires.  The employee continues to receive a partial salary continuation for an illness or injury.  The disability benefit is up to 60% of the employee’s compensation up to a maximum of $5,000 per month, whichever is less.  CVPH pays the premium, therefore the benefit is taxable when received.
Voluntary Dental  Insurance All regular full-time Resident Physicians. Eligible for enrollment:
- First of the month following date of hire.
- Open enrollment in the fall for an effective date of January 1.		 Delta Dental is available on a voluntary basis.  Premiums are paid pre-tax through payroll deduction.  
Voluntary Vision  Insurance All regular full-time Resident Physicians. Eligible for enrollment:
- First of the month following date of hire.
- Open enrollment in the fall for an effective date of January 1.		 VSP Vision is available on a voluntary basis.  Premiums are paid pre-tax through payroll deduction.  
Federal/State Programs      
FMLA (Family  Medical  Leave Act) All regular full-time Resident Physicians. Eligible after working for at least 12 months and having worked at least 1,250 hours over the prior twelve months. The Family Medical Leave Act entitles the eligible employee to take up to 12 weeks of unpaid, job-protected leave each year for specified family and medical reasons:
-birth or placement of a child for adoption or foster care;
-family member (spouse, child, or parent) with a serious health condition;
-or when the employee is unable to work because of a serious health condition.
New York  State  Disability All Resident Physicians. Eligible after having worked 4 consecutive weeks for a covered NYS employer. New York State Disability is a short-term disability insurance program that provides a partial salary continuation for a maximum of 6 months for the employee who is unable to work because of an off-the-job injury or illness.  Current benefits are capped at $170 per week or 50% of weekly base compensation, whichever is less.
New York State Paid Family Leave All regular full-time Resident Physicians. Eligible after working 175 days regardless of status. NYS PFL is job-protected, paid time away from work for employees that meet the qualifying reasons.  PFL is utilized:
- To care for a family member with a serious health condition (family member is defined as spouse, parent-in-law, domestic partner, grandparent, child, grandchild or parent.)
- To bond with a child.
- For military exigencies (defined under FMLA).

For 2024 the maximum is 12 weeks.  Up to 67% of gross income not to exceed $1,151.16/week.
New York  State  Workers’  Compensation All regular full-time Resident Physicians. Eligible upon date of hire. New York State Workers’ Compensation is a program that provides a partial salary continuation for the employee who is unable to work because of an on-the-job injury.  Weekly compensation is established by the Workers’ Compensation Board.


Miscellaneous Benefits

Professional Liability Insurance All regular full-time Resident Physicians. Eligible upon date of hire Professional liability insurance is provided by CVPH.  The offered insurance is a claims made policy that includes tail coverage with limits up to $2,000,000 per occurrence with a $20,000,000 per year aggregate maximum.  Coverage is provided by Vermont Managed Care Insurance Co.  (VMCIC), the captive insurance company owned and operated by the University of Vermont Health Network.
Professional Fees / CME Expenses All regular full-time  Resident Physicians. Eligible to receive CME reimbursement upon date of hire.  Eligible to receive CME days after 1 year. Any CME expense or time away from the program must be approved by the Program Director or his/her designee.  The Resident Physician is eligible for reimbursement up to $1400.00 /year for CME.  Beginning in the second year of residency, in addition to the $1400.00/year, residents can use up to forty (40) hours of paid CME time. The Resident Physician will receive their normal compensation during the hours of CME.  CME dollars and or time does not roll over from one academic year to the next academic year.  Allowed monies and CME days reset every July 1st.  The deadline to submit requests for CME reimbursement is within ten (10) days of the end of the academic year or July 10th (for the previous academic year).  If an intern is interested in attending a CME conference in their first year of residency, they will need prior approval from the Program Director or his/her designee and they will be required to use vacation or elective time for this absence.  Required certifications and courses (such as ALSO, BLS, ACLS, PALS, NRP) will be provided by the program.
 
Additional  Benefits All regular full-time Resident Physicians.








All regular full-time Resident Physicians.
Eligible upon date of hire.
 
-A discount is provided to the employee for purchases through the pharmacy and sterilization processing department -(SPD)
-the employee may elect payroll direct deposit into a qualified checking or savings account in the United States.
-the employee may utilize the Credit Union that is on-site.
-Discounts are given on meals purchased at the CVPH Cafeteria.



-Employee may utilize their badge to purchase items through payroll deduction.  Purchases can be made at the Cafeteria and Pharmacy.


Compensation effective April 15, 2024

           G1 $71,242.46

           G2 $74,626.48

           G3 $78,171.24

  

Benefit    
Pay Period  and Pay Day All Resident Physicians. Eligible upon date of hire. Pay Period: Two-week period which begins Monday at 0001 and ends the second Sunday at 2400.

Pay Day: Paycheck or statement is available at 1100 every other Friday.
 
Performance Evaluation / Review All regular full-time Resident Physician. 6 months The employee is evaluated by his/her Program Director/Faculty and receives increases in conjunction with their advancement to PGY2 and PGY3 accordingly.