Total Reward$ of a Allied Health Professions VA Career

Page 1

No matter where or how you serve as an allied health professional, support is there so you can focus on what matters most: the mission to heal and care for Veterans so they can thrive in life after military service.

MAKE IT YOUR
MISSION to Heal and Care for Veterans
Total Reward$ of a VA Career Allied Health Professionals
Published Date: November 2022

CHOOSE VA

Mission

As an allied health professional at the U.S. Department of Veterans Affairs, you have more than a job you have a mission to serve Veterans who’ve borne the battle with honor.

Compensation

Earn competitive compensation as you pursue excellence in health care for Veterans.

Coverage

Rest easy knowing that VA has you and your family’s insurance needs covered. Insurance coverage may follow you into retirement after 5 years of vested service and maintaining FEHB in the 5 years leading up to retirement (conditions apply).

Retirement Benefits

Earn an amazing retirement package including a traditional (defined benefit) federal pension, a 401(k) Thrift Savings Plan (TSP) with employer matched contributions, and Social Security.

Career and Growth Opportunities

Start your career at VA and benefit from opportunities to build your skills and career path.

Total Reward$

As an employee, you serve with dedicated professionals and are rewarded with a strong support system, superior work-life balance, and countless career growth and assignment options.

2 1 2 3 5 4 6

MISSION

Did you know…

At VA you will enjoy these perks #WorkatVA

• 1 active and unrestricted license allows you to practice at any VA nationwide site of care

• Clinical and administrative support that allows you to focus on providing health care to Veterans

• Spend more time with grateful patients and less time on administrative tasks

• 11 federal holidays

• No employment contracts, restrictive covenants, or non-compete clauses

Take a closer look…

For an up-close look at a few allied health careers at VA check out these YouTube videos:

• Occupational Therapist https://youtu.be/fUFhBM_ztuc

• Pharmacy Resident https://youtu.be/WSTIthLLsB4

• Clinical Psychologist https://youtu.be/77qHlLw9Xck

• Social Work Intern https://youtu.be/45aKQVebL3I

• Social Work Service Education and Training Coordinator https://youtu.be/Fl8e0pyet9w

• HUD-VASH Social Worker https://youtu.be/NQD 754b LM

At VA, you are a part of a dynamic team of thousands of professionals helping provide high-quality health care to our Nation’s Veterans. As an allied health professional, you have more than a job—you have a mission to serve over 9 million Veterans who’ve borne the battle with honor in over 1,293 sites of care.

VA’s culture is defined through a set of core values (ICARE): Integrity, Commitment, Advocacy, Respect and Excellence. VA is the leader in virtual and telehealth medicine and offers state-of-the art tools including speech recognition capabilities, mobile devices and renowned knowledge-based resources.

With VA’s integrated system, employees are free to explore new areas of career development and pursue opportunities anywhere within VA. You have the opportunity to provide clinical care, advance your education, mentor and be mentored, become a principal investigator, provide training and move into executive roles.

As an employee, you’ll discover a career with competitive pay, opportunities for growth and mobility, a wealth of benefits and rich rewards.

3

COMPENSATION

Earn a competitive total reward$ package as you pursue excellence in health care for Veterans.

Competitive Salaries. At VA, you receive compensation based on the position’s level of responsibility/qualifications (grade level), length of service within the grade (step), and the duty location.*

Regular Increases. Receive annual increases (when signed into federal law), within-grade or “step” increases and when appropriate, grade increases. Over the last 5 years, the average Federal annual cost of living increase was 1.72%

VHA National Child Care Program. This program assists VA employees in balancing work and family responsibilities. After 60 days of employment, full time employees with a total family income below $149,000 may be eligible for childcare subsidy program (conditions apply).

Employment Without Strings. Whether you serve fullor part- time, your employment at VA is without employment contracts, noncompete clauses, restrictive covenants or other significant restrictions on outside work.

Liability Protection. VA health care providers are covered under federal tort laws and may be defended by the United States against allegations of malpractice or negligence (38 USC 7316).

Transit Benefit Program. You may qualify for transit subsidy monthly benefits of a max of $280/month; check with your local VA Medical Center (conditions apply).

*For more information about competitive salaries, talk to a VA recruiter.

VA Paid Benefits Provided to You

Ø Social Security paid by VA = 6.2% of taxable wages on behalf of the employee. If an individual has taxable wages over the taxable maximum of $147,000, VA will contribute $9,114 Employee Assistance Program (EAP) = free legal and medical services

Ø Medicare paid by VA = 1.45% on behalf of the employee

Ø

Flexible Spending Account (FSA) = you may contribute up to $2,850 a year to your health care FSA with a $570 max carry over and save up to 30% on dependent care expenses

Ø Life Insurance = VA pays 1/3 of insurance cost for basic life insurance

Ø Thrift Savings Plan Federal 401(k) = VA provides up to 5% employer contributions (1% automatic contribution and up to 4% employer matching contributions)

Ø Federal Employee Retirement System (FERS) = For employees after 1/1/2014, VA contributes 16.6% annually to FERS FRAE basic/defined benefit traditional pension

4

SAMPLE

Total Reward$ of a VA Career as an allied health professional worksheet

Compensation + Benefits = Your Total Reward$*

This Total Reward$ sample is a generalized report reflecting the potential monetized value of a full VA compensation package.

Social Security paid by VA = 6.2% of taxable wages on behalf of the employee. If an individual has taxable wages over the taxable maximum of $147,000, VA will contribute $9,114

Employee Assistance Program (EAP) = free legal and medical services

Medicare paid by VA = 1.45% on behalf of the employee

FSAFEDS Flexible Spending Account = you may contribute up to $2,850 a year to your health care FSA with a $570 max carry over and save up to 30% on dependent care expenses

Life Insurance = VA pays 1/3 of insurance cost for basic life insurance

Thrift Savings Plan (TSP) Federal 401(k) = VA provides up to 5% employer matched/automated contributions to your savings plan

Federal Employee Retirement System (FERS) = for employees after 1/1/2014, VA contributes 16.6% annually to FERS-FRAE basic/defined benefit

VHA National Child Care Program = assists VA employees in balancing work and family responsibilities. After 60 days of employment, full time employees with a total family income below $149,000 may be eligible for childcare subsidy program (conditions apply)

Transit Benefit Program. You may qualify for transit subsidy monthly benefits of a max of $280/month; check with your local VA Medical Center (conditions apply).

Student Loan Repayment. As a VA employee, you gain access to loan repayment, reimbursement, and comprehensive education support programs. See page 7 for more details.

Sample Annual Total Reward$ Worksheet | Full time Employee*

Direct Compensation

Average Salary $ 40,000 $ 80,000 $ 120,000

Total Rewards of Benefits Provided by VA

Health Insurance Premium Subsidy $ 11,024 $ 11,024 $ 11,024

Social Security $ 2,480 $ 4,960 $ 7,440 Medicare $ 580 $ 1,160 $ 1,740

Employee Assistance Program (EAP) $ 500 $ 500 $ 500

Basic Life Insurance $ 106 $ 211 $ 317

Thrift Savings Plan Federal 401(k) (employer contributions) $ 2,000 $ 4,000 $ 6,000

Federal Employee Retirement System $ 6,640 $ 13,280 $ 19,920

Student Loan Repayment Program (conditions apply, $10k max/yr.) $ $ $

Education Debt Reduction Program (conditions apply, $40k max/yr.) $ $ $

Care Program (maximum benefit/conditions

household income <$149k)

Total Value of Paid Leave

Personal Paid Time Off

Parental Paid Leave

Let’s do the math!
$ 68,322 $ 120,129 $ 171,933
is a sample only and does not constitute a contract of employment or a guarantee of benefits or future
and are based on specific circumstances. Paid
an additional payment but is a value of your paid time off included in your annual salary. If your service includes part-time calculations, your total rewards and benefits will be proportionally prorated. For more information, please see www.opm.gov
Child
apply
$ 4,992 $ 4,992 $ 4,992 Direct Compensation + Benefits = Overall Annual Total Reward$*
*This calculation
employment. Certain elements vary
leave is not
Total annual combined value of paid holidays, sick leave and annual leave
details. $ 5,673 $ 7,667 $ 11,346 $ 15,333 $ 17,020 $ 23,000
(37 50 days). See page 11 for more
$ 9,200 $ 18,400 $ 27,599
(12 weeks, if taken). VA provides up to 12 weeks of paid parental leave in connection with the birth, adoption, or foster care placement of a child for employees covered by Family and Medical Leave Act (FMLA) provisions. See page 11 for more details on leave.

COVERAGE

Rest easy knowing that VA has you and your family’s needs covered.

Insurance coverage may follow you into retirement after 5 years of vested service and maintaining FEHB in the 5 years leading up to retirement (conditions apply).

Health Insurance. With Federal Employees Health Benefits (FEHB), choose from a variety of self or family health maintenance organizations or fee for service health plans that all cover pre existing conditions. Your spouse and children under age 26 are eligible, as are children regardless of age—who are unable to support themselves. VA pays up to 75% of health premiums, a benefit that can continue into retirement (conditions apply). Your portion of the premium is taken on a pretax basis unless you opt out.

Plans can be adjusted during annual open season from November-December. Start flexible, tax-free spending accounts for up to $2,850 in medical expenses for individuals and up to $5,000 in dependent care expenses.

Long-term disability coverage. Become eligible for disability retirement benefits after 18 months of vested service.

Life insurance. Plan for what’s next with Federal Employees Group Life Insurance (FEGLI), which is group term life insurance covering you and eligible family members. Receive this benefit with no physical exam if you elect to enroll within 60 days of being hired and get coverage that applies from your start date and continues into retirement.

Dental and vision insurance. Under the Federal Employees Dental and Vision Insurance Program (FEDVIP), supplemental dental and/or vision benefits are available to you and your family, including children up to age 22. FEDVIP coverage may continue into retirement for allied health professionals enrolled as employees.

Long-term care. Under the Federal Long-Term Care Insurance Program, VA allied health professionals can access long-term care coverage for home care, adult day care and facility care. You may be eligible to apply for long-term care insurance even if you’re not enrolled in the FEHB Program.

Parental Leave. The National Defense Authorization Act (NDAA) provides up to 12 weeks of paid parental leave in connection with the birth, adoption, or foster care placement of a child for employees covered by Family and Medical Leave Act (FMLA) provisions applicable to federal civilian employees.

6

CAREER AND GROWTH OPPORTUNITIES

Start your career at VA and benefit from opportunities to build your skills throughout your tenure to meet your career aspirations.

VA conducts the largest education and training effort for health professionals in the United States.

Continuing education. VA is the nation’s leading provider of continuing education units (CEU) credits and hours. As a VA allied health professional, you can earn CEU credits at no cost.

In-person and virtual training. VA leads in clinical simulation training, with dedicated experts and state-of-the-art resources to support the learning needs of VA staff across over 171 VA medical centers and more than 1,293 sites of care.

Leadership skills development. VA provides a competitive, three-tiered continuum of leadership development at the local, network, and national levels for employees with the potential and desire to serve in leadership positions.

Student Loan Reimbursement

Education Debt Reduction Program (EDRP). If you’re an allied health professional, hired for a specific hard-to-recruit and retain direct patient care position, you may be eligible for VA’s Education Debt Reduction Program (EDRP). This program offers qualifying allied health professionals student loan reimbursement of up to $200,000 over a 5 year period.

Student Loan Repayment Program (SLRP). SLRP allows VA to recruit or retain qualified candidates that the organization would have difficulty recruiting or retaining in the absence of offering a student loan repayment. The maximum annual gross amount payable in a calendar year is $10,000 with the total lifetime gross amount of $60,000 and a 3-year service obligation.

7

RETIREMENT BENEFITS

Get ready for VA service with employer matched Thrift Savings Plan (TSP) Federal 401(k), a pension, and Social Security.

Federal Employees Retirement System.* Earn a generous Federal Employee Retirement System (FERS) pension after 5 years of vested service to VA through the basic/defined benefit retirement plan.

Long-term disability and death benefits. Become eligible for disability retirement benefits (similar to long-term disability insurance coverage) and employee death benefits after 18 months of vested service.

Survivor benefits. Become eligible for survivor benefit plan after 10 years of vested service.

TSP Federal 401(k): Portable, transferrable, and low cost

Don’t worry – as a VA employee, you may carry over service time that is added to your total years of work for retirement purposes. This may increase your retirement pension payments (conditions apply).

Social Security: Portable with lifetime payments at retirement

Defined Benefit Pension: Lifetime payments at retirement and deferred benefits after 5 years of service to use at retirement

Have you earned credits from your time in military service?
FERS*
*Conditions apply. Seep pages 9-10 for more information and www.opm.gov/retirement services/fers information 8

Thrift Savings Plan (TSP)

Federal 401(k)

Grow retirement funds by supplementing your pension, Social Security and other savings with TSP

More savings. TSP lets you contribute up to $20,500* a year to your account.

Catch-up at midcareer. If you’re age 50 or older, grow TSP beyond the maximum with additional “catch up” contributions of up to $6,500 or more per year* for a total potential contribution of $27,000. Catch-up ceilings are regularly increased so check the TSP website for the latest information.

Employer matching. Earn VA contributions right away. VA makes an automatic contribution of 1% of your salary into your TSP fund. VA also matches contributions dollar-for-dollar on the first 3% of your salary and 50 cents-on-the-dollar for the next 2% of your salary, for a total of up to 5% in employer contributions.

Vesting. When you’re “vested,” you have ownership of contributions—they are yours to take with you, into the next job or retirement. You are automatically vested in your own contributions and VA’s matching contributions from day one of VA employment. Employees are vested in the 1% automatic contribution after 3 years of VA service.

Low-cost, choice-based investing. TSP features matching funds, tax-treatment options (pretax traditional/after-tax Roth), investment choices and portability so you control how much you contribute and where to invest. TSP annual administration fees (total expense ratio) are roughly 10 times lower than industry averages at .055% for every $1,000 invested versus the industry average of roughly .58% for every $1,000 invested.** That’s more money in your pocket to use when you retire.

TSP Fees: $462 Industry Fees: $4,620

$840,408 Account value example after 20 years
Keep more of your investment with low TSP investment fees!
fee
service
Invest $20,500
Compounded annual rate of return $20,500 ANNUALLY AT 20 YEARS AT 30 YEARS AT 40 YEARS Compounded by
annual rate of return $840,408 $1,936,466 $4,092,520
9 Annual % Annual fee
.055% fee .58%
Plan for a comfortable life after federal
with TSP and compound interest
annually toward retirement and see your savings stack up!
7% assumed
*indicates the 2022 amount and may increase in future years. **https://www.tsp.gov/tsp basics/administrative and investment expenses/ **https://www.investopedia.com/thrift savings plan vs 401 k 5212330#:~:text=The%20total%20expense%20ratio%2C%20which,to%20the%20administrator%20every%20year

FERS Basic/Defined Pension

Become vested in the FERS Basic/Defined Benefit pension after only 5 years of creditable civilian service.

Generous pension. Under the federal retirement system, your future pension benefits are funded through an automatic 4.4% deduction from your salary and an 16.6% matching contribution from VA each pay period. After retirement, monthly pension annuity payments are distributed for life.

The examples below illustrates calculations for annual VA pension for full-time employee (not including 401k/TSP payments) using various retirement age and years of service combinations for average salaries of $40,000, $80,000, and $120,000.

• Under age 62

Example 1

• 1% benefit

• 60 years old

• 30 years of VA service

• Age 62 or older

• 1.1% benefit

• 63 years old

• 33 years of VA service

• $45,000 average high 3 salary

• 30 years of VA service

• Age 62 or older

• 1.1% benefit

• 63 years old

• 33 years of VA service

Example 1

• Under age 62

• 1% benefit

• 60 years old

• 30 years of VA service

• Age 62 or older

• 1.1% benefit

• 63 years old

• 33 years of VA service

• $85,000 average high 3 salary

Age Defined

Under age 62 the employee must have met their Minimum Retirement Age (MRA) between age 55-57 and they must have worked at least 10 years or greater under a retirement plan.

Benefits Defined

Under age 62 benefit is 1% of the highest 3 years of average salary for each year of service (conditions apply)

Age 62 or older with 20+ years of service benefits is calculated at 1.1% of the highest 3 years average salary for each year of service.

$40,000 average high 3 salary EXAMPLE ANNUAL PENSION Example 2 $12,000 $16,335 Average Salary $40,000
$80,000 average high 3 salary EXAMPLE ANNUAL PENSION Example 2 $24,000 $30,855 Average Salary $80,000
Example
• $125,000 average high 3 salary
1
• Under age 62
• 1% benefit
• 60 years old
EXAMPLE ANNUAL PENSION Example 2 $36,000 $45,375 Average Salary $120,000 Ø
• $120,000 average high 3 salary
Ø
Ø
Many different factors impact pension amounts; for instance, unused sick leave extends your creditable service time on a day-for-day basis. Review your specific situation with a VA recruiter and follow the links in the resources section for more information. 10

TOTAL REWARD$

A VA career offers you a balanced, flexible work environment focused on your unique needs.

At VA you can…

Work anywhere. With one full and unrestricted active U.S. license, you can work at any of the 1,293 VA sites of care or by the beach, in a city or in the countryside—and take your benefits with you. Apply for an open position at VA facilities in all 50 states, the District of Columbia, Puerto Rico, Guam, American Samoa, and the Philippines.

Relocate with ease. Applying for work at another VA? You won’t typically lose accumulated paid leave, benefits, or pay by transferring from one VA position to another VA position.

Receive assistance. Under VA’s Employment Assistance Program (EAP), get free, short-term counseling and other services to cope with the stresses of life and other issues. EAP includes:

• 24/7 access to and follow-up with professional counselors.

• Counseling on legal, financial, child and elder care, mental health, identity theft and wellness issues.

• Community resources and referrals.

• Internal and external tools on EAP services.

Take time off. At VA, you start your career with 37 – 50 days of paid time off each year. Paid vacation, unlimited accumulated paid sick leave and 11 paid federal holidays accrue right away.

Spend time with family and friends with paid leave

Leave Category Full Time Part Time

Federal Holidays 11 days 11 days*

Annual Leave (0-3 years of service) 13 days 1 hour for every 20 hours worked

Annual Leave (3-15 years of service) 20 days 1 hour for every 13 hours worked

Annual Leave (15+ years of service) 26 days 1 hour for every 10 hours worked

Annual Leave Max Carryover 240 hours 240 hours

Sick Leave 13 days 1 hour for every 20 hours worked

Paid

**The National Defense Authorization Act (NDAA) provides up to 12 weeks of paid parental leave in connection with the birth, adoption, or foster care placement of a child for employees covered by Family and Medical Leave Act (FMLA) provisions applicable to federal civilian employees.

Sick Leave Max Carryover Unlimited Unlimited
Military Leave 15 days Prorated Military Leave Maximum Balance 30 days Prorated
Parental Leave** 12 weeks Prorated (must work at least 1,250 hours per year) *Part-time employees are entitled to federal holidays that fall on days employees would otherwise be required to work or take leave. This does not include overtime work.
11

VA TOTAL REWARD$ INVENTORY

Benefits

q One full unrestricted license

No employment contracts, restrictive covenants, or non-compete clauses

Clinical admin support

Liability Coverage

Worker’s Compensation Insurance

Social Security

Medicare Health & Welfare

Medical insurance

Dental insurance plan (add)

Vision insurance plan (add)

Prescription plans

Work-life

Flexible Spending Accounts (FSAs) q Life Insurance q Spouse/dependent Life Insurance q Health Care Flexible Spending Account q Limited Expense Health Care Flexible Spending Account (FSA) q Survivor Benefits q Death Benefits q Short-term/Long-term Disability Insurance q Child Care Program*

Performance & Recognition

q Performance reviews and evaluations q Service Awards q Retirement Awards

Peer recognition programs q Employee suggestion programs

Appreciation programs

Development & Career Opportunities

q Clinical residency/fellow and health professions trainee programs q Education Loan Reimbursement Programs* q Clinical Scholarship & Education Programs* q Tuition Reimbursement q On-the job training q Attendance at outside conferences and seminars (virtual and in-person) q Access to VA Learning University’s (VALU) customized training programs q VA simulation training q VA Leadership skills development q 24/7 access to multiple web based catalogs, filled with diverse online training options for career growth q Promotional career pathways *Please note, certain elements vary and are based on specific facility circumstances, eligibility requirements, availability and are not a guarantee of benefits.

Retirement q Federal Employees Retirement (FERS) Plan q FERS basic/defined Pension q Thrift Savings Plan (TSP) 401(k) q Credit for Military Service*

A VA career offers you numerous benefits and rewards, take a closer look
your potential inventory of total reward$.
q Competitive Salaries q Shift Differential Pay* q Weekend/Holiday Pay* q On-call
q Transit
Pay
Worked q
q
q
q Paid
q
q
Recruitment &
Incentives* q
q
q
q
at
Compensation
Pay*
Benefit Program*
for Time Not
Vacation (Annual Leave)
Sick Leave
Military Leave
Parental Leave
Family Medical Leave
Shared Leave Programs
Retention
Performance Bonus*
Referral Bonus*
Recruitment/Hiring Incentives*
Retention Bonus*
q
VA
q
q All
Workplace Flexibility/Alternative Work Arrangements* q Alternative work sites q Telecommuting q Virtual q Desk sharing q Part-time employment q Intermittent employment q Traveling Nurse Programs q Telehealth/Telemedicine Health & Wellness q On-site fitness centers/gyms* q Employee Wellness q Disaster Relief Programs* q Diversity/Inclusion Initiatives q Federal
Work anywhere at over 1,293
sites of care
Receive assistance through VA’s Employment Assistance Program (EAP)
Employee Survey
Women’s Program
q
q
q
q
q
q
q
q
q
q
q
q
q
12

CHOOSE V A

RESOURCES

Benefits, Education, and Employment Incentives

Ø Education support: https://www.vacareers.va.gov/Benefits/EducationSupport

Ø Employment benefits: https://www.vacareers.va.gov/Benefits/EmploymentBenefits

Ø Federal benefits: https://www.opm.gov

Ø Transit Benefit Program: https://dvagov.sharepoint.com/sites/WMCPortal/SubPages/Pages/Transit.aspx

Coverage

Ø Liability protection explained: https://www.vacareers.va.gov/Benefits/EmploymentBenefits/#insurance

Ø VHA’s National Childcare Program: Pages VHA's National Childcare Program (sharepoint.com)

Insurance

Ø Life insurance: http://www.opm.gov/healthcare insurance/life insurance

Ø Dental/vision: http://www.opm.gov/healthcare insurance/dental vision

Ø Federal health benefits: http://www.opm.gov/insure/health/index.asp

Ø Federal health benefits comparison tools: https://www.opm.gov/healthcare insurance

Ø Federal insurance frequently asked questions: http://www.opm.gov/healthcare insurance/insurance faqs

Ø Flexible spending accounts primer: http://www.opm.gov/healthcare insurance/flexible spending accounts

Ø Long-term care: http://www.opm.gov/healthcare insurance/long term care

Retirement

Ø Estimate future pension benefits at OPM’s Federal Ballpark Estimate: https://www.opm.gov/retirement services/calculators/federal ball park estimator/

Ø Thrift Savings Plan: https://www.tsp.gov/index.html

Ø Retirement benefits: http://www.opm.gov/retirement services/fers information

Ø Social Security Retirement Estimator: https://www.ssa.gov/benefits/retirement/estimator.html

13

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.