Maverick87 Posted August 23, 2016 Share Posted August 23, 2016 Hey all. I just received an offer from an allergy practice. Overall, I like the practice and the offer is just fine for me. The major issue that I noticed in the offer letter is that I would need to cover tail if I left. Now, the likelihood of being is drastically reduced in allergy than in my previous field (primary care), but it is still a concern nonetheless. I'm thinking about countering by basically just getting my own occurrence based coverage and seeing if they will pay for it. What do you all think of this? And what insurance company would you recommend? Link to comment Share on other sites More sharing options...
GetMeOuttaThisMess Posted August 23, 2016 Share Posted August 23, 2016 Like your idea better since you control policy. I did same and use Mercer at $100/300K. Primarily have it for own legal coverage. Link to comment Share on other sites More sharing options...
Maverick87 Posted August 23, 2016 Author Share Posted August 23, 2016 Like your idea better since you control policy. I did same and use Mercer at $100/300K. Primarily have it for own legal coverage. Thanks for the response! I tried looking up Mercer, but was unable to get a quote for $100/300k plan. A few more questions: 1) I googled and found CM&F. Have you heard of them? 2) Do you have claims-based with tail or occurrence? 3) How much do you pay with them? I was quote at about $2,200 for occurrence based with CM&F. 4) Do you know where to find statistics on how much it costs to have a PA added to a physician's plan (as opposed to just getting my own outright)? 5) Do you have coverage in addition to your SP's coverage? Or do you solely have your own coverage and just have the SP pay for it? Sorry for the massive amounts of questions. There's surprisingly little information about this on this forum. Link to comment Share on other sites More sharing options...
GetMeOuttaThisMess Posted August 23, 2016 Share Posted August 23, 2016 I think they and Mercer may be one and same? Mercer $100/300K you have to call/request. Pay for cat I outside higher risk area is $984. SPs are contracted through area mega-network and never onsite. They have access to EMR to review charts. Employer has C-M but I wanted my own as well so I didn't have to worry about tail. Link to comment Share on other sites More sharing options...
Moderator ventana Posted August 23, 2016 Moderator Share Posted August 23, 2016 covery is who I use talk to a local independent insurance agent that does med mal and they can set you in the right direction talk to local docs and see who they have would carry 1m/3m way better to carry your own as it covers you for everything (excluding higher category jobs ie surgery, ER) Mine is the lowest rick category and 1m/3m and about 3 or 4k per year (don't remember off top of my head) Highest risk ones (ie OB, ER, Surgery is about $8k) This is the same issue that is coming up a whole bunch recently.... a Corp or Doc will get a Claims Made and as long as the company is in business and they maintain their policy you would be covered. If however you left, and they closed you might be SOL. HOWEVER the doc is likely ALWAYS going to have insurance as it is insane not to..... so a trial lawyer sees a PA with no insurance, and a doc with a 1m/3m policy...... not much choice there.... But if you are later in your career, have a nest egg, or anything to protect, I would say your counter to get your own policy, and have them pay for it is ideal (but be aware they can add you their policy and since you are DEPENDENT it will no increase their cost at all - so in essence you are insured for free through the doc, but he might have to pay up to $8k if you get your own occurrence policy... but on a $150k employee making upwards of 300-400k for the practice $5k seems pretty small... Link to comment Share on other sites More sharing options...
Maverick87 Posted August 23, 2016 Author Share Posted August 23, 2016 I think they and Mercer may be one and same? Mercer $100/300K you have to call/request. Pay for cat I outside higher risk area is $984. SPs are contracted through area mega-network and never onsite. They have access to EMR to review charts. Employer has C-M but I wanted my own as well so I didn't have to worry about tail. It looks like Mercer is part of Proliability. The lowest plan I could find is $500k/1m for $1,568 (cat 1). covery is who I use talk to a local independent insurance agent that does med mal and they can set you in the right direction talk to local docs and see who they have would carry 1m/3m way better to carry your own as it covers you for everything (excluding higher category jobs ie surgery, ER) Mine is the lowest rick category and 1m/3m and about 3 or 4k per year (don't remember off top of my head) Highest risk ones (ie OB, ER, Surgery is about $8k) This is the same issue that is coming up a whole bunch recently.... a Corp or Doc will get a Claims Made and as long as the company is in business and they maintain their policy you would be covered. If however you left, and they closed you might be SOL. HOWEVER the doc is likely ALWAYS going to have insurance as it is insane not to..... so a trial lawyer sees a PA with no insurance, and a doc with a 1m/3m policy...... not much choice there.... But if you are later in your career, have a nest egg, or anything to protect, I would say your counter to get your own policy, and have them pay for it is ideal (but be aware they can add you their policy and since you are DEPENDENT it will no increase their cost at all - so in essence you are insured for free through the doc, but he might have to pay up to $8k if you get your own occurrence policy... but on a $150k employee making upwards of 300-400k for the practice $5k seems pretty small... I thought I would need to purchase tail after I leave to cover me. Is that not correct? I'm young and early in my career. I do have small savings that I'd prefer not to lose (about $100K). My understanding is that tail coverage would be much more expensive (around $10k) than just getting my own plan. Is that correct? Link to comment Share on other sites More sharing options...
GetMeOuttaThisMess Posted August 24, 2016 Share Posted August 24, 2016 Your CM declaration page should state the tail cost. They (Mercer) are Proliability. You can call and get lesser coverage. I'm in a tort reform state so damages are limited. Again, my coverage is basically for legal costs and not so much for damages. Link to comment Share on other sites More sharing options...
Maverick87 Posted August 24, 2016 Author Share Posted August 24, 2016 I'm not really concerned about getting sued in this specialty which is one of the reasons I took this job. In my area, it seems like most employers offer claims-based without tail. I've seen this multiple times in various specialties. Maybe it's regional. Link to comment Share on other sites More sharing options...
Moderator ventana Posted August 24, 2016 Moderator Share Posted August 24, 2016 If the claims made policy stays in effect (enforce) and the company is still in business you would be covered even after leaving as that this the policy for the company and the doc (whom you worked for) If they changed carriers, or went out of business and did not buy a tail you would be uncovered Sounds like you just need to buy a policy and make it part of the employment agreement..... Link to comment Share on other sites More sharing options...
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