500 Job Source
367 South Gulph Road
King of Prussia, PA 19406
CEO: Alan Miller
Stock Symbol: UHS
Universal Health Services is the nation's third largest healthcare
management company, operating behavioral health facilities and
acute care hospitals, and ambulatory surgery and radiation centers
Universal Health owns or leases 23 acute
care hospitals and 44 behavioral health hospitals with a total
of 10,000 beds. It also operates 7 ambulatory surgery hospitals
and 3 radiation centers.
The company also acts as the advisor to
Universal Health Realty Income Trust, a real estate investment
trust (NYSE: UHT).
The company was founded in 1978 by current
CEO and Chairman Alan Miller. It went public in 1981.
In 2004, Universal Health reported revenues
of $3.9 billion and net income of $169.4 million.
The company offers UniFLEX, a flexible
benefits package offered to employees for insurance and income
UniFLEX offers two basic options that cover the same supplies
and services but have different deductibles, co-payments and
out-of-pocket maximums. Each plan has a preferred provider organization
feature, preventive care benefits, a lifetime maximum of $1,000,000
and a prescription drug benefit offering discounts at local pharmacies
and a mail-order service. At some locations, Health Maintenance
Organization (HMO) options are available.
Dental. UniFLEX offers two dental options which differ
in deductibles, co-payments and annual maximum allowances. The
two plans cover: (1) preventive care such as oral exams, (2)
basic services like fillings, (3) major services such as crowns
and (4) orthodontic services.
Vision. UniFLEX offers a vision plan. After a small deductible,
the plan will pay 100% for the following services if you use
a participating doctor: (1) vision exam, (2) clear lenses, (3)
frames and (4) contact lenses. Benefits are also available if
you use a non-member doctor and reimbursement is based on a fee
What are the income protection choices?
Life Insurance. UniFLEX offers basic life insurance of $10,000
or one times your annual base pay, plus six five options of supplemental
life insurance coverage which insures the employee's life ranging
from $10,000 to four times your annual base pay (to a maximum
Automatic Death and Dismemberment. Coverage for an amount
equal to your annual base pay is automatic. The benefit is paid
to your beneficiary if you die from accidental injury. A schedule
of benefits applies in the case of severe injury. There is also
a comprehensive worldwide emergency assistance service at no
Personal Accident Insurance (PAI). UniFLEX lets you purchase
$25,000 to $300,000 of PAI for yourself and/or your family. If
you purchase coverage for your spouse and children, they will
be covered for a percentage of your coverage.
Dependent Life Insurance. UniFLEX provides two options:
$25,000/$10,000 or $10,000/$2,000 for your spouse and/or children.
Long-Term Disability (LTD). LTD coverage provides financial
protection if you become ill or injured and unable to work for
an extended period of time. This benefit pays up to 60% of your
monthly base pay.
UniFLEX provides two plans from which to choose. The difference
is the time you wait before your disability payments begin, called
the waiting period. Your choices are 90 days or 180 days.
UHS Retirement Savings Plan. You may join the UHS Retirement
Savings Plan, which is a qualified 401(k) plan. You may defer
1% to 25% of your pay on a pre-tax basis to save for your retirement.
UHS also matches a portion of your savings. You may join the
plan after 30 days of employment if you are at least 21 years
of age and are regularly scheduled to work at least 20 hours
per week. The plan offers you flexibility and diversification
in your investment choices. Your account is valued daily and
allows you to choose from a multitude of investment options.
Employee Stock Purchase Plan. The UHS Employee Stock Purchase
Plan offers employees the chance to purchase company common stock
at a 10% discount, giving you the opportunity to share in the
success of UHS. You may join the plan after 30 days of employment
if you are not a member of a collective bargaining group and
have attained the age of majority in your state of residence
and are regularly scheduled to work at least 20 hours per week.
Through convenient payroll deductions you may invest $20 per
month up to $1,000 per month.
Flexible Spending Accounts (FSAs). FSAs let you set aside
UniFLEX dollars and your own pre-tax dollars to cover qualified
expenses that you would normally pay with post-tax dollars. You
may set aside up to $3,000 per year in a Healthcare FSA to pay
for eligible expenses for yourself or dependents. These expenses
could be medical, dental and vision expenses not covered by your
benefit plans. You may also set aside up to $5,000 per year in
a Dependent Care FSA to pay for eligible day care or dependent
care expenses for children or adults.
For field personnel the benefits are the same except for
Paid Time Off (PTO)
The PTO policy combines a benefited employee's (regularly scheduled
to work 20 hours or more per week) vacation and sick time accruals
into one program. PTO hours can be used for religious observances
and other elective holidays.
Approved educational leave, bereavement leave and jury duty may
be used in addition to PTO days and the PTO account will not
be charged with this time off.
Updated October 22, 2005