(MEMPHIS, Tn – Feb 26, 2019) – The Memphis Medical Society has partnered with BenefitEd to provide a range of education benefits programs to help healthcare employers create a more engaged and productive workforce.
One of the exciting new offerings is the ability for employers to match their employees’ student loan payments within the company’s existing budget. “We know the cost of medical school and further education is high,” says MMS’s chief executive officer Clint Cummins. “Many physicians and their healthcare colleagues graduate with so much debt that it may their ability to pursue other important personal and professional dreams. Our new matching repayment program is one way we can alleviate some of this long-term stress on our physicians.”
Through the partnership with BenefitEd, The Memphis Medical Society can offer Employee Choice, an program that gives employees control over where the company’s matching funds are applied, such as retirement savings, student loan repayment, or both. The key for the employer is that this can be done without adjustment to their benefits budget.
“We see this as a win-win for both employers and employees,” Cummins says. “The employer maintains their existing benefits budget, and can promote this program as a recruiting tool, while the employee is able to choose where the matching funds are delivered, allowing them to pay off student loan debt much faster.”
While currently focusing on healthcare employers, The Memphis Medical Society hopes to grow this program throughout other industries in Memphis. “The ability to use already budgeted money to reduce student loan debt creates a stronger workforce overall and increases retainment,” Cummins says. “We are excited to offer this opportunity.”
For more information on this partnership, contact Clint Cummins, CEO of The Memphis Medical Society at 901.761.0200 or [email protected]
The Memphis Medical Society is the nonprofit professional association of Shelby County physicians. With more than 2,000 physician members, it provides its members lobbying support, professional development and tailored programming to increase the ability to practice medicine in Memphis. To learn more, visit mdmemphis.org
BenefitEd offers customized employer-assisted student loan repayment programs and college savings programs to employers looking to build highly competitive, differentiated benefits packages. These programs are offered direct to employers, through benefit brokers, and white label solutions.