1st Year $67,501
2nd Year $69,687
3rd Year $71,871
HSM Fellow $74,057
OB Fellow $74,057
Resident Benefits for the 2024-2025 Academic Year
Meals
Meals are provided to residents in the hospital cafeteria without charge (also to families of residents on call).
Uniforms
The hospital provides residents with one white lab coat and one set of scrubs the first year and each subsequent year as needed for use within the hospital.
Vacation
Residents receive 18 working days of paid vacation each year.
Starting Bonus
The hospital will provide each new resident $1,250 as a bonus that will appear on the first paycheck of residency.
Holidays
The hospital recognizes six (6) holidays annually. These include: New Year’s Day; Memorial Day; Independence Day; Labor Day; Thanksgiving Day and Christmas Day. Residents who work a holiday may choose another day to take off with approval. Reciprocal coverage will be made by other residents.
CME
Residents may be absent from the Program with pay for up to five (5) days per academic year for attendance at extramural medical education seminars as approved by the designated Director. A maximum of $1,500 per academic year is provided for these educational expenses.
Technology
Residents receive a brand new, top-of-the-line wireless laptop computer that belongs to the resident upon completion of the residency. Residents also will receive a personal Butterfly Ultrasound Probe as part of our Point-of-Care Ultrasound curriculum.
Beacon Health & Fitness
The hospital will provide each resident with an Adult Physical Fitness Membership at Beacon Health & Fitness. Membership includes use of a weight room, lap pool, stationary bicycles, rowing machines, racquetball courts and aerobics classes. Family members age 14 and older qualify to be part of family memberships at a discounted rate. Additionally, residents may use the Physicians’ Workout Room at the hospital free of charge as well as the residency workout room.
Family Leave
Time off can be taken for family leave which is defined as the birth and care of a newborn, adopted or foster child, care of an immediate family member with a serious health condition, or care of a resident’s own serious health condition. This is in concordance with the American Board of Family Medicine (ABFM) Family Leave policy. Per the Accreditation Council for Graduate Medical Education (ACGME), residents who are absent from work for Family Leave may continue at 100% of their salary for the first six weeks. The program director will provide more information about the family leave policy as requested.
Leave-of-Absence
Leave-of-Absence during residency may be available for personal reasons at the discretion of the program director and in keeping with pertinent ABFM and ACGME legislation.
Medical/Dental/Vision Insurance
The hospital will provide each resident and their spouse and dependent children up to age 26 with a group medical, dental and vision insurance plan without cost to the resident. Such insurance shall commence on the first day of full time employment.
Professional Liability Insurance
The hospital’s general liability insurance policy provides coverage for each resident while they are acting within the scope of their hospital duties. The resident is also insured for medical practice activities performed outside the scope of the residency program (i.e., “moonlighting”) if, and only if, the activity is within Beacon Health System.
Life and Long Term Disability Insurance
The hospital will provide life insurance to each resident. Coverage will be one times their annual salary. Permanent long-term disability insurance for the resident will also be provided by Memorial. Eligibility for long-term disability shall begin following one (1) year of service (employment). Payments begin on the 91st day of disability and provide for 60 percent of the resident’s monthly salary (up to $10,000 per month) and will continue until the resident turns age 65.
Optional Life and Dependent Optional Life Insurance
Residents have the opportunity to purchase low-cost term life insurance up to $500,000 in increments of $10,000. (Amounts over $250,000 require a health statement.) The resident has the opportunity to purchase life insurance for the family. Spousal coverage can be purchased in $5,000 increments up to one half of the amount purchased for the resident. Coverage for dependent children is in the amount of $10,000.
403(b) Retirement Plan
The resident is eligible to contribute on a before-tax basis to a 403(b) account from his/her pay. After one year of employment, the resident is eligible to participate in the Beacon Health System matching program. After 2 years of employment, the resident becomes vested in the plan and can take the contributions with them after graduation.
