Maximizing Your Wellstar Health System Employee Benefits: A Comprehensive Guide

For healthcare professionals and staff, having access to a strong employee benefits package is not just an added perk—it’s a crucial part of financial security, work-life balance, and long-term career satisfaction. Wellstar Health System recognizes this and offers an extensive array of benefits to ensure team members receive high-quality care, financial stability, and a welcoming environment that fosters personal and professional growth.

If you’re a current Wellstar employee or considering joining this leading healthcare provider, this guide will help you navigate the comprehensive options available and make the most of your benefits package.

Health and Wellness Benefits

Medical, Dental, and Vision Insurance: Choosing the Right Plan

Wellstar Health System provides three medical plan options to best suit employees’ healthcare needs:

• Exclusive Provider Organization (EPO) – Lower out-of-pocket costs but requires employees to use in-network providers.
• Premier PPO – Offers flexibility with in- and out-of-network coverage at moderate costs.
• Value PPO – The most cost-effective option for those willing to pay slightly higher out-of-pocket expenses in exchange for lower premiums.

Each of these plans includes preventive care, behavioral health services, prescription drug coverage, and women’s health programs to ensure all employees receive the care they need.

Actionable Tips for Choosing Your Medical Insurance:

✅ If you rarely visit the doctor and want lower payroll deductions, consider the Value PPO.
✅ If you want predictable costs and low deductibles, the EPO plan may be best for you.
✅ If you need flexibility and want out-of-network options, the Premier PPO is a good middle ground.
✅ Take advantage of HSAs and FSAs to pay for medical expenses with pre-tax dollars.

For dental and vision insurance, Wellstar partners with leading insurance carriers to provide coverage for routine check-ups, orthodontics, and corrective lenses at minimal fees.

Life and Disability Insurance: Are You Fully Covered?

Wellstar provides multiple insurance options, including:

• Basic Employee Life Insurance – Covers 1.5x the base salary at no cost to the employee.
• Basic Personal Accident Insurance & Accidental Death and Dismemberment (AD&D) – Protects against loss of income due to accidents.
• Critical Illness Coverage – Provides a lump-sum benefit to help cover medical costs for serious health conditions.
• Short-Term and Long-Term Disability Insurance – Ensures continued income in case of an injury or illness.

Why Physicians May Need Additional Term Life and Disability Insurance

While Wellstar offers basic life and disability insurance, physicians and high-income earners often need additional coverage outside of their employer-provided benefits. Employer-sponsored disability insurance typically covers only 60% of your salary—which may not be enough to maintain your lifestyle if you’re unable to work.

Actionable Tips for Insurance Optimization:

✅ Consider purchasing a private disability policy to supplement Wellstar’s plan. Look for one that covers own-occupation disability, meaning you get benefits if you’re unable to practice medicine—even if you can work in another field.
✅ Ensure you have enough life insurance—1.5x salary may not be enough. Many financial experts recommend coverage of at least 5-10x your annual income.
✅ Use pre-tax dollars by funding an HSA or FSA for medical expenses and future healthcare costs.
✅ Review coverage limits and exclusions on Wellstar’s policies to ensure they meet your specific needs.

If you’re unsure whether your life and disability coverage is enough, we can help review your policies and explore additional coverage options to protect your financial future.

Financial Benefits and Retirement Planning

403(b) Retirement Plan with Company Match

A strong retirement plan is a vital part of any benefits package, and Wellstar’s 403(b) retirement plan offers:

• Company match contributions – For every $1 contributed, Wellstar contributes $0.50 up to 4% of eligible earnings.
• Annual employer contributions – Employees who work at least 1,000 hours per year may receive an additional employer-funded retirement contribution.

Employees are automatically enrolled at 1% of their pay, with the ability to adjust contributions at any time.

Actionable Tips for Maximizing Your Retirement Benefits:

✅ Contribute at least 4% to take full advantage of the company match—otherwise, you’re leaving free money on the table.
✅ Consider a Roth 403(b) option if you expect to be in a higher tax bracket in retirement.
✅ Increase contributions over time—aim to max out the 403(b) for a comfortable retirement.

For high-income earners, Wellstar also offers a 457(b) deferred compensation plan, allowing for additional tax-advantaged savings.

How to Enroll in Benefits

New hires and existing employees can enroll in benefits or make changes during:

• Their first 31 days of hire
• Open Enrollment (typically in October)
• A qualifying life event (marriage, birth of a child, etc.)

Employees can access Wellstar MyBenefits via wellstarmybenefits.org to make elections.

How We Help Wellstar Physicians Optimize Their Finances

At Arch Financial Planning, we specialize in helping Wellstar physicians and healthcare professionals maximize their benefits, personal finances, and student loan strategies.

Here’s how we help Wellstar employees take control of their financial future:

✅ Optimizing Employee Benefits – Ensuring you’re fully utilizing Wellstar’s 403(b), insurance options, and tax-advantaged accounts.
✅ Student Loan Strategies – Helping you choose between income-driven repayment plans, PSLF, and aggressive repayment options.
✅ Investment Management – Building tax-efficient portfolios that align with your risk tolerance and long-term goals.
✅ Private Disability & Life Insurance – Making sure you’re adequately covered beyond your employer’s basic policies.
✅ Home Buying & Mortgage Planning – Advising on physician mortgage loans and home purchase timing.
✅ Tax Planning – Helping minimize taxes through retirement accounts, deductions, and advanced planning strategies.

Why Work With a Financial Advisor?

As a physician, your time is best spent caring for patients, not stressing over finances. Our firm specializes in helping Wellstar physicians create comprehensive financial plans that align with their income, career trajectory, and long-term goals.

Final Thoughts: Take Advantage of Your Benefits

Whether you’re a new hire, a long-time Wellstar employee, or considering joining Wellstar Health System, maximizing your employee benefits is crucial. The combination of health coverage, financial security, work-life balance perks, and retirement planning makes Wellstar a great place to work.

If you’re a Wellstar physician, we specialize in working with Wellstar employees to make the most of their compensation and benefits.

This article is for informational purposes only and does not constitute financial or tax advice. Please consult a tax professional or financial advisor for advice specific to your individual situation.

Disclaimer:

This website (the “Blog”) is published and provided for informational and entertainment purposes only.  The information in the Blog constitutes the Content Creator’s own opinions and it should not be regarded as a description of services provided by Arch Financial Planning, LLC or Cecil Staton, CFP® CSLP®.

The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.  It is only intended to provide education about personal financial planning.  The views reflected in the commentary are subject to change at any time without notice.

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