1st Year $67,501
2nd Year $69,687
3rd Year $71,871
HSM Fellow $74,036
OB Fellow $74,036
Benefits for the 2022-2023 Academic Year
Meals are provided to residents in the hospital cafeteria without charge (also to families of residents on call).
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.
Residents receive 18 working days of paid vacation each year.
The hospital will provide each new resident $1,250 as a bonus that will appear on the first paycheck of residency.
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.
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.
Residents receive a brand new, top-of-the-line wireless laptop computer and up to a $500 reimbursable technology allowance. These items belong to the resident upon completion of the residency.
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.
Residents are eligible for salary continuance while under a physician’s care, a benefit provided by the hospital. Additional leave may be taken by using vacation time, or as a leave of absence pending approval of the Residency Directory. Pertinent ABFM policies also apply.
Personal leave and adoption leave for adoptive parents may be taken using vacation time. Additional time taken as a leave-of-absence without pay may be arranged. Pertinent ABFM policies also apply.
Residents are eligible for salary continuance, a benefit provided by the hospital.
Leave-of-Absence without pay may be available for such reasons as medical disability or personal emergency, provided such leave is approved by the director of the residency program. Pertinent ABFM policies also apply.
The hospital will provide each resident and his/her 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 he/she is acting within the scope of his/her 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 his/her 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.