Altarum Institute is committed to promoting staff achievement by providing the necessary tools and opportunities for on-going success. Altarum’s benefits package is critical in retaining and attracting the skilled group of staff members who collectively make Altarum a leading nonprofit health systems research and consulting organization. Altarum’s total compensation package is designed to be flexible by offering choices that best meet each employee’s needs.
- Health and Welfare Benefits
- Medical Coverage
- Medical Opt Out
- Dental Coverage
- Life and Accidental Death and Dismemberment Insurance
- Disability Insurance
- Long Term Care Insurance
- Reimbursement Accounts
- PTO and Holiday Pay
- Tuition Assistance
Altarum's base pay approach recognizes the importance of competitive rewards as a key element to ensure rewarding career opportunities for those Altarum employees who pursue technical excellence, customer satisfaction, productivity, corporate growth, and personal responsibility. Pay policies and practices within Altarum support fairness, equity, and collaboration among the Institute's various operating groups.
The primary principle in determining base pay levels is competitive external pay practices for comparable positions and skill sets within our own industry, as well as in segments of the broader corporate community, with which we must compete for similar employee competencies and skills.
In addition to base salary, Altarum offers an annual bonus program designed to motivate and reward employees for the attainment of Institute-wide operational performance goals, and to reward outstanding individual performance.
Health and Welfare Benefits
Altarum offers a generous, comprehensive array of health and welfare benefits. All health and welfare benefits, with the exception of life and disability plans, are effective the day you begin work. Insurance for medical, dental, and vision coverage is available for single, two person, and family as well as same sex domestic partners. Altarum benefits require reasonable employee contributions; many can be paid with pre-tax dollars. An overview of the benefits is presented here:
Medical Coverage: Altarum offers Consumer Directed Health Plans (CDHP). For many this may be the first time they have looked into a CDHP. CDHP’s are health plans that give people more choice in making health benefit decisions. These plans also offer more control over health care spending. They usually have a lower premium and a higher deductible and then are coupled with a health fund or health savings account. You can use this fund or account to pay for health care expenses. Altarum pairs our CDHP with a Health Savings Account with generous employer contributions.
Medical Opt Out: Altarum offers a Medical Insurance Opt Out option for any employee who can certify that he/she has medical coverage under another medical plan. Employees who opt out of medical coverage will receive cash in lieu of medical coverage and are still eligible to receive all other elected benefits.
Dental Coverage: Altarum’s dental plan is through Delta Dental. The dental plan provides coverage at four levels — preventive, diagnostic, prosthodontic, and orthodontic (for dependents under age 19.) Costs for preventive services are paid at 100%.
Life and Accidental Death and Dismemberment Insurance: Basic life insurance is offered at twice your annual salary, up to $500,000 at no cost to you. You may also buy additional life insurance under the current policy.
Disability Insurance: Along with the life and accidental death and dismemberment insurance, Altarum provides both long-term and short-term disability insurance at no cost to you.
Long Term Care Insurance: Altarum offers an employee paid long-term care insurance option. This insurance can cover the employee, spouse, and extended family. There are several different plans to choose from.
Reimbursement Accounts: Altarum offers you an opportunity to set aside pre-tax dollars from your paycheck. You can use these untaxed dollars to pay for certain types of medical and dependent care. Parking and Mass Transit accounts are also available to employees in the DC metropolitan area.
Altarum offers a 401(k) plan that is designed to help employees save for retirement in a tax-effective manner. The 401(k) plan helps provide employees with a solid foundation for added financial security during their retirement years. There are two components to the Altarum retirement plan: the employer contribution and the employee contribution. Altarum contributes 5% of an employee’s base salary to their 401(k) plan. Employee contributions to the plan can be made pretax or post-tax (Roth option). With the Altarum 401(k) plan, employees are always 100% vested in their contributions and rollover contributions, plus any earnings that they generate.
PTO and Holiday Pay
At Altarum, we encourage our employees to maintain a healthy balance between their work and personal life. Full-time regular employees, and reduced schedule regular employees working at a 50% appointment or greater, are eligible to accrue annual paid time off (PTO). PTO includes vacation, sick, and personal PTO, and accrual rates increase with tenure. In addition to PTO, full-time employees will be paid for Institute-observed holidays.
In support of professional growth, Altarum offers educational assistance and training opportunities. All regular employees working at a 50% appointment or greater are eligible for the full amount of tuition assistance. Educational assistance is typically paid in advance of course completion and covers tuition, registration fees, continuing education fees, and technology fees up to $5,250 per calendar year.