Stanford Hospital: Doctor Loan Reimbursement Options Explored

Stanford Health Care (SHC) is a qualified tax-exempt employer under Section 501(c)(3) of the Internal Revenue Code (IRC). While there is no explicit mention of loan reimbursement for doctors, SHC offers various benefits and incentives for its employees. These include retirement plans, medical, dental, and vision insurance, employee assistance programs, and more. Additionally, SHC provides financial counseling services to help patients and physicians navigate the financial aspects of care, including identifying sources of reimbursement for hospital services. SHC also treats cancer, heart disease, brain disorders, and primary care issues. Outside of SHC, there are loan repayment programs offered by the Bureau of Health Workforce and the National Health Service Corps (NHSC) for eligible clinicians and students. These programs provide funds to repay school loan debt in exchange for service in eligible health care facilities or approved sites in Health Professional Shortage Areas (HPSAs).

Stanford Graduate Medical Education (GME) House Staff loan options

Stanford Graduate Medical Education (GME) House Staff have access to a range of loan options and benefits. These include:

Loan Deferment, Forgiveness, and Certification

House Staff can apply for loan deferment, forgiveness, or certification by submitting the required forms to [email protected] using a secure email. The GME department will process these requests within 5-10 business days. It is recommended that House Staff submit their forms after completing their SHC training and before their Stanford appointment start date.

Loan Certification/Verification Letter

House Staff requiring a loan certification/verification letter can send an email to [email protected] with the lender's requirements and full contact information. The GME department will provide the letter within 5-10 business days, which the House Staff can then upload or share with their lender.

Checkout and Attestation Forms

When terminating their employment, House Staff must review, complete, sign, and return the GME House Staff Checkout and Attestation forms, along with any loaned materials. Final paychecks are issued via direct deposit, and medical benefits for graduating House Staff and dependents end on the last day of the appointment month.

Work Hours Reporting

House Staff is responsible for communicating and submitting accurate work hours averages to their lenders. The GME department provides a Step-by-Step Guideline to help House Staff submit their work hours information accurately.

Overall, Stanford GME House Staff have access to a range of loan options, including deferment, forgiveness, and certification programs, as well as support through the loan application process.

Stanford Health Care (SHC) financial counselling

Stanford Health Care (SHC) offers financial counselling to help patients and their families navigate the financial aspects of their care. Financial counselling is available to assist patients in identifying potential sources of reimbursement for hospital services and determining their ability to pay for treatment.

SHC's financial counselling services are provided by the Patient Access Services team, which includes dedicated financial counsellors. These counsellors can help patients identify possible ways to pay for their care if they lack sufficient funds or health insurance. They can also assist in obtaining coverage through government programs, such as Medi-Cal, and provide guidance on insurance coverage and financial assistance options.

For international patients, SHC's Financial Counselling department offers cost estimates by calling 844-498-2900. Additionally, SHC provides a Cost Estimator tool on their website, allowing patients to estimate their out-of-pocket expenses for certain services. This tool considers insurance information to provide a more precise estimate.

SHC also offers a range of financial options for patients who are uninsured or underinsured. Those facing financial difficulties are encouraged to explore government programs or apply for SHC's financial assistance program. This program is typically available to individuals or families with incomes at or below 400% of the federal poverty level (FPL) guidelines.

Furthermore, SHC provides support for patients seeking payment plans or experiencing financial hardship. It is recommended that such patients be identified early in the registration or admission process to facilitate the necessary documentation, research, and approvals. SHC complies with the Emergency Medical Treatment and Active Labor Act (EMTALA), ensuring that emergency medical conditions and labour receive a medical examination and necessary stabilising treatment, regardless of the patient's ability to pay.

Stanford Health Care patient financial assistance

Stanford Health Care (SHC) offers financial assistance to its patients through various means. SHC is a qualified tax-exempt employer under Section 501(c)(3) of the Internal Revenue Code (IRC).

SHC provides financial counselling services to help patients navigate the financial aspects of their care. Financial counsellors can assist in identifying payment options, obtaining government program coverage, and addressing insurance and financial assistance queries. They can be reached at 844-498-2900, Monday through Friday, from 8:00 a.m. to 5:00 p.m.

Additionally, SHC offers a financial assistance program for patients who are uninsured or underinsured and face financial hardship. Patients in this situation are encouraged to apply to Medi-Cal or explore other government programs. If patients do not qualify for these programs or still have significant financial obligations despite having insurance, they may be eligible for SHC's financial assistance program.

For House Staff, SHC offers loan forgiveness, deferment, and certification options. House Staff can submit requests to [email protected] and enrol in a loan forgiveness program before their Stanford appointment start date. The GME department can also assist with loan deferment and certification forms, which typically take 5-10 business days to process.

Furthermore, Stanford University offers a Cardinal Care student health insurance plan, which is managed by the Vaden Health Center. The Financial Aid Office administers an automatic University-wide subsidy program for graduate students. The annual cost of Cardinal Care for the 2024-2025 academic year is $7,620, and it includes coverage during the Summer quarter. To be eligible for the subsidy, graduate students must have a Research or Teaching Assistantship or an equivalent level of fellowship support.

Stanford Health Care employee benefits and perks

Stanford Health Care (SHC) is committed to providing a safe, inclusive, and supportive work environment for all its employees. The organisation has a range of benefits and perks for employees to choose from, depending on their needs.

Financial Benefits

SHC offers fair and competitive pay, with each job assigned a pay range that is updated periodically to reflect market trends for comparable skills. They also provide various incentive and special pay programs, as well as retirement programs. Employees can expect employer contributions ranging from 10 to 13%, depending on their years of service. SHC also offers free Workplace Financial Consulting through Fidelity Investments. Employees are also eligible to join the Stanford Credit Union, which offers loans, credit cards, checking accounts, and investment options.

Insurance and Wellness

SHC offers core benefits, including medical insurance, with a choice of three health plans through Stanford Health Care Alliance, Aetna, or Kaiser Permanente. Each plan includes 100% coverage for preventive care, telemedicine, prescription drug coverage, and behavioral health coverage. Other insurance benefits include dental, vision, disability, life, and accident insurance.

Time Off

SHC offers generous time off to ensure employees get the rest and relaxation they need. In addition to legally mandated leaves, employees are awarded paid time off based on their years of service and hours worked, ranging from 26 to 30 days annually. This time can be used for vacation, holidays, illness, family emergencies, religious observances, and other absences.

Employee Support

SHC provides an employee assistance program and savings and spending accounts. They also support underrepresented groups through Employee Resource Groups, providing a sense of belonging and facilitating innovation, professional growth, and meaningful relationships.

Professional Development

SHC offers tuition assistance and scholarship programs for employees to pursue professional development. Full-time employees can receive up to $2,000 per fiscal year for tuition assistance, pro-rated for part-time employees. Employees also have access to Stanford University's Continuing Studies program.

Loan Programs

SHC is a qualified tax-exempt employer under Section 501(c)(3) of the Internal Revenue Code (IRC). They can assist with loan deferment/forbearance/certification for eligible employees.

Loan repayment programs for health careers

Loan repayment and financial aid programs are crucial tools for building a robust healthcare workforce, especially in rural communities. These programs offer financial assistance to healthcare professionals and students pursuing health careers, helping to alleviate the burden of student loan debt. Stanford Health Care (SHC) and various external organizations provide several loan repayment programs for health careers.

Stanford Health Care Loan Programs

Stanford Health Care offers loan deferment, forbearance, and certification assistance for its House Staff. House Staff can submit requests for loan forgiveness/deferment/certification to [email protected]. They can also enroll in a loan forgiveness program before their Stanford appointment and after completing their SHC training. Stanford Health Care is a qualified tax-exempt employer under Section 501(c)(3) of the Internal Revenue Code, which may have implications for loan repayment strategies.

NHSC Loan Repayment Program

The National Health Service Corps (NHSC) offers several financial aid programs for healthcare professionals and students interested in serving rural and underserved communities. The NHSC Loan Repayment Program provides licensed primary care clinicians with loan repayment assistance. In exchange, recipients must serve for at least two years at an NHSC-approved site in a Health Professional Shortage Area (HPSA). The program also considers designated Maternity Care Target Areas (MCTAs) within primary care HPSAs for maternity care health providers.

Bureau of Health Workforce Programs

The Bureau of Health Workforce (BHW) offers eight distinct programs that repay a portion of school loan debt. These programs typically involve serving in eligible healthcare facilities in communities in need. The programs cater to various disciplines, including primary care medical, dental, behavioral health, substance use disorder treatment, and pediatric subspecialties. Some programs are designed for students in their final year of eligible medical, nursing, dental, or physician assistant school.

Other Financial Aid Options

In addition to loan repayment programs, scholarships, loans, loan forgiveness programs, and stipend programs are also available to support health careers. Scholarships are typically grants that do not require repayment, while loans require repayment after completing a degree program. Loan forgiveness programs are a hybrid, offering loans that can be forgiven upon fulfilling specific service commitments, such as practicing in rural or underserved areas. Stipend programs, provided by employers, communities, or government entities, help trainees cover expenses during training or function similarly to loan repayment programs upon training completion.

Frequently asked questions