Kentucky Hand & Physical Therapy

Our practice has developed a comprehensive set of employee benefit programs to supplement our employees’ regular wages. Our benefits represent a hidden value of additional income to our employees:

Health & Dental Insurance
We offer a choice of health plans and dental insurance to all full-time employees. The insurance policies become effective 30 days after the first day of employment. We pay 85% of the premium for a single medical policy and 60% of the premium for a single dental policy. If the employee elects to get employee/child, employee/spouse, or family coverage, the employee pays the difference between that premium and the company-paid premium. If the employee is responsible for a portion of the premium, it is deducted from their paycheck on a bi-weekly basis. We also offer a HSA (Health Savings Account) in conjunction with one of the medical plans.

Life / Basic Accidental Death or Bodily Injury Insurance
We offer a term life / AD or bodily injury insurance policy to all full-time employees. The policy becomes effective 30 days after the first day of employment. We pay 100% of the premium for $15,000 coverage. If the employee elects more coverage, then 100% of the cost of the additional coverage is paid by the employee and is deducted from their paycheck on a bi-weekly basis. *The premium amounts are determined by age and sex.

Short Term Disability Policy
We offer a short term disability policy to all full-time employees. The policy becomes effective 30 days after the first day of employment. We pay 50% of the premium. The employee pays for the remaining 50% of the premium and it is deducted from their paycheck on a bi-weekly basis. *The premium amounts are determined by age, sex, and pay rate.

401(k)
We offer a 401(k) plan to all full-time employees. Employees are eligible to enroll in the plan after 1 year of employment. The employee can elect to withhold any amount they desire as long as it doesn’t exceed the maximum contribution allowances set by the IRS. We match 100% of the first 3% of gross pay contributed. We match 50% of any amount contributed that is over 3%, up to 5%. The matching amounts contributed by the company are 100% vested at the date of contribution. Currently, our plan is administered by Morgan Stanley Smith Barney using American Funds investments.

Discretionary Profit Sharing Plan
Each year, in addition to any salary deferrals, and any safe harbor contributions, we may contribute to the discretionary profit sharing plan. In order to share in the profit sharing contribution, certain detailed conditions must be met. Eligible plan participants are subject to a vesting schedule.

Cafeteria Plan
A Section 125 Cafeteria Plan is a fringe benefit sponsored by the Employer. Employees are eligible 30 days after the first day of employment, must be 18 years of age, and work more than 32 hours per week. If you participate in the Plan, you may elect to pay for certain nontaxable benefits with before-tax dollars. Nontaxable benefits include group health and accident insurance, group term life insurance, disability benefits, and spending accounts. These expenses are deducted from your gross pay. Employees may also elect to redirect a certain amount of their salary into a Health Savings Account (HSA) account for out-of-pocket medical expenses. These include expenses incurred by you, your spouse, and/or dependent(s).

Paid Time Off (PTO)
We offer PTO to all full-time employees. PTO is accrued per pay period and begins to accrue the first day worked. Base PTO is 15 days from date of hire through year two of employment; base PTO is 17 days year three through year five of employment; base PTO is 20 days start of sixth year of employment. PTO is eligible for use 90 days after the first day of employment.

Holidays
Our practice normally observes the following holidays: New Year’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving Day, and Christmas Day

Continuing Education
We offer $1,000.00 annually to full-time employees for the purposes of continuing education. We also facilitate bi-weekly professional development clinical meetings which are held on-site.