Employee Handbook - Mount Sinai Hospital

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Opportunities at Mount Sinai Mount Sinai recognizes that its employees are its most valuable resource. We strive to recruit the most capable people and to place them in positions best suited to their abilities and career objectives. The Medical Center values each employee’s individuality and dignity, and recognizes outstanding performance and service through both formal awards and informal appreciation. The Medical Center also makes a significant investment in its employees, not only in compensation, but also in training and development, encouraging people to acquire the capabilities for advancement. Compensation The purpose of Mount Sinai’s compensation program is to support the Medical Center’s ability to attract, retain, and motivate the highly qualified people needed to achieve the goals of the institution. Wages and salaries, health and welfare benefit coverage, and paid time off are all part of this program. Each aspect of the overall compensation program is designed and administered to comply with all applicable laws and to provide fair treatment for all employees. Benefits Mount Sinai offers a comprehensive benefits package to protect you and your family in case of illness, injury, or death. Benefits provided to union employees are in compliance with their collective bargaining agreement. Part-time employees hired on or after January 1, 2004, who are scheduled to work 60 percent or more of the full work-week are eligible for health and welfare benefits and 403(b) retirement plan employer contributions (where applicable). Make sure that you receive all the benefits to which you are entitled and that you keep your personal information up to date. Please notify Human Resources (HR) of changes in your address, marital status, number of dependents, insurance beneficiary, etc. You can find the relevant forms on the HR intranet site. (To access the site, go to http://intranet1.mountsinai.org and click on the “Corporate Services” tab at the top of the page; in the list that comes up on the left-hand side of the screen, click on “Human Resources.”) Flexible Spending Account Plans: Health Care and Dependent Care Reimbursement Accounts provide a tax-efficient way to pay for healthcare expenses that are not reimbursed by insurance, and for certain dependent care expenses. These plans involve pre-tax payroll deductions, subject to plan limits.
Health and Welfare Benefits: Mount Sinai offers employees a wide range of options for both well care and illness, including medical, prescription drug, dental, and vision plans; different levels of income protection for those unable to work due to an illness or injury (disability coverage); and financial protection for families in the event of the employee’s death or permanent disability (group term life and accidental death and dismemberment insurance). Group life insurance may also be available for spouses and children of eligible employees. Retirement Plans: The 403(b) plan lets you set aside money toward retirement with each paycheck. These pre-tax contributions reduce the amount of current income taxes you pay (you will, however, pay income tax when you receive the money later on). You decide how your contributions are invested. Employee contributions are based on a percentage of total compensation (including overtime, bonuses, shift differentials, etc.), up to a maximum annual contribution limit set by the Internal Revenue Service. These limits are indexed for inflation and may change from time to time. Some employment classifications also qualify for employer contributions. Consult the 403(b) Summary Plan Description or collective bargaining agreement to find out if you qualify, and under what conditions. Workers’ Compensation: This can include salary replacement and medical benefits (subject to statutory limits) if you contract an occupational illness or have an injury on the job. Other benefits offered to Mount Sinai employees include: ■ ■ ■ ■ College Savings Program, a tax-efficient way to help reduce the burden of paying for tuition, room and board, books, and other required expenses at eligible institutions of higher learning for yourself and family members. You can set aside money through post-tax payroll deductions toward these expenses, subject to statutory limits. To pay for qualified college expenses, participants can withdraw all assets, including earnings, free of federal and New York State income taxes. Long-Term Care Insurance, which allows you to build up coverage for possible need later in life, e.g., for nursing home care. Supplemental Life Insurance, to provide additional financial security for your family in the event of your death. Transportation Reimbursement Incentive Program (TRIP), which helps reduce commuting and parking expenses by allowing employees to set aside money through pre-tax payroll deductions. Performance Appraisals Mount Sinai has established a systematic performance appraisal program that enables employees and supervisors to discuss, plan, and review an employee’s performance together. The goals of the program are to: • help you better understand your responsibilities as a Mount Sinai employee, 7 • help you increase your productivity and effectiveness by involving you in planning for your activities, and
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Employee Handbook - Mount Sinai Hospital

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