Benefits Package

Northeast Hospitals is an organization of people who have a shared commitment to improve the health of the individuals and communities we serve. We provide efficient, high quality care through a comprehensive, integrated system of community-based hospitals.

In order to attract and retain the talented workforce that we need to fulfill this mission, we strive to provide a positive environment that allows all employees to perform at their best. This includes a wide variety of factors, including first class technology, modern facilities, as well as an overall Human Resources (HR) strategy. One component of the HR strategy that is important to everyone is our benefits package.

Paid Time Off

Employees hired to work at least 20 or more hours per week, begin accruing Paid Time Off (PTO) from the first day of employment. Paid Time off encompasses time for vacation, holiday, sick and personal use.

Paid Time Off (PTO) Cash-In

The Hospital encourages employees to use their Paid Time Off (PTO) as time away from work. However, we realize employees may have unexpected financial needs that can be addressed by providing more flexibility in the use and/or payment of their accrued PTO time. The Hospital will allow employees who have met certain requirements, the ability to Cash-In a portion of their accrued PTO time.

Shift Differential

We have competitive shift differentials paid for evening, night, and weekend rotations.

Tuition Assistance

The Hospital will reimburse a percentage of the cost of undergraduate as well as graduate level tuition. We also offer tuition assistance under our Tuition Forgiveness Program, and financial assistance for certification and conference attendance.

Employee Assistance Program

The Employee Assistance Program (EAP) is a confidential counseling service, which provides professional help for any type of personal problem to all Hospital employees and their family members.

Short-Term Disability

Voluntary short-term disability insurance is available to eligible employees. This coverage provides a percentage of income replacement for employees who are out of work due to disability. Benefits may be payable for up to 26 weeks.

Long-term Disability

Long-term Disability coverage is available to full-time employees after 90 days of employment at no charge. This coverage provides disability income to employees who are out of work for more than 26 weeks.

403(b)

Northeast Hospital's 403(b) Retirement Savings Plan allows participating employees to save a percentage of their income on a pre-tax basis. The income you choose to set aside for retirement, (or, your "deferral"), is not subject to federal or state taxes, normally, until retirement.

Following are some provisions of the plan:

• Employees may defer on a pre-tax basis up to the maximum allowed by the IRS for the calendar year.
• Deferrals must be made as a payroll deduction; and can be calculated as a whole percentage of pay or a dollar amount.
• Employees may elect to change their deferral amount at any time.
• Participants may change their fund allocation as often as they would like during the quarter.
• Vesting: You are always 100% vested in your contributions. Upon separation from the Company, you are entitled to receive the full amount of your salary deferral account.
• Hardship Withdrawal: A participant may receive a distribution equal to the amount of the salary deferral account in the event of an IRS-qualified financial hardship. (Subject to taxes and penalty.)
• Rollovers: You may transfer funds from another qualified plan or an IRA Rollover account and establish a rollover account in the plan at any time.

Non-Contributory Retirement Plan

In addition to your Social Security benefits, Northeast Hospital Corporation provides retirement income through a Defined Benefit Cash Balance Pension Plan. This pension plan is fully funded by the hospital and eligible participants are 100% vested after 3 years. Account balances are credited with annual pay and interest credits. If an employee should leave before retiring, they may either leave their vested account balance in the plan, (if it exceeds $1000), to accumulate additional interest until they choose to take a retirement benefit, or, they may take their vested balance with them. At retirement, vested participants have a choice of payment options: lump sum or monthly annuity options.

Pre-Retirement and Retirement Counseling

One-on-one retirement counseling is offered for all Hospital employees. Retirement and financial planning classes are also periodically conducted, for employees and family members.

Medical and Dental Insurance

We offer a variety of health and dental insurance options. The hospital contributes toward the monthly premium. Employees may elect individual, two person or family coverage. Insurance premiums are deducted from payroll on a pre-tax basis.

Vision Insurance

Vision Insurance is voluntary insurance coverage and is available to employees at group rates; however, employees pay the full cost for this insurance. Coverage is provided for exams, frames and lenses; and providers are located in retail and community settings.

Life Insurance

After 90 days of service, full time employees will be provided with Life Insurance coverage at no charge. The Hospital pays the full cost of the premium for a benefit that is equal to one times annual salary. Full time and eligible part time employees may elect voluntary supplemental coverage of 1, 2, or 3 times their annual salary.

Medical and Dependent Care Reimbursement Accounts

Employees have the opportunity to pay for qualifying out-of-pocket medical, dental, and vision care expenses with "before tax" dollars. In addition, qualified dependent care expenses at a licensed facility or w/ a qualified provider are reimbursed w/ "pre-tax" dollars. Reimbursement may also be provided with the use of a debit card or through direct deposit.

Direct Deposit

Employees may choose to have their payroll check deposited in up to 4 accounts of their choice at any bank where they have existing accounts.

Employee Banking Services

An on site automated teller machine, (ATM), is available at our three major campus locations: Beverly Hospital, Addison Gilbert Hospital and the Beverly Hospital at Danvers.

Discounted Homeowners and Auto Insurance

Benefit eligible employees are provided a discount program in conjunction with Metropolitan Insurance. Through payroll deduction employees are eligible to receive discounts on auto insurance and homeowners rates.

Cafeteria

The hospitals enjoy an outstanding food service department, and meals are available in our on-site cafeterias.

Pharmacy Program

A full time or part time employee, spouse, and dependents living in the same household, as well as Hospital retirees and their spouses may buy prescription medicine at the Hospital Pharmacy, if stocked. Medications are priced at Hospital cost.

Parking

Parking is free at all of Northeast Hospitals facilities.

Pet Insurance

Northeast Hospitals Corp. has always provided excellent medical benefits to employees, spouses and children. We are now pleased to announce insurance to include your pets! We will offer a group Veterinary Pet Program to all employees. This voluntary benefit allows employees to receive a discount from the largest pet insurer in the country. Anyone who has had a pet with a serious medical problem knows how costly it can be.

Benefits Concierge Programs

We offer many services and discounted programs to our employees, including discounted tickets to AMC Theaters, Canobie Lake Park, Six Flags, Water Country, Dell Computers, Sensational Travel, Enterprise Car Rental, HMA Car Care Auto Detailing, Discounted Healthclub Memberships, Verizon, AT&T and Sprint/Nextel Cell Phone Discounts, TD Garden Events, Ski Passes, and Weight Watchers @ Work. This is an area that we continually work on to continue offering an exciting, diverse range of discounts and programs for our employees and their families.

Northeast Hospitals reserves the right to amend any and all benefit provisions with or without notice. This overview serves as a summary and is subject to change. Specific details of plan coverage and exceptions will be determined by the carrier's contract and /or the plan document. The contract and/or the plan document prevail at all times.