Can those of you that work in addiction medicine (or telemedicine in general) shed some light on what type of malpractice insurance you've purchased for yourself?
My situation: I am a PA living in Chicago but will be starting an (on call, but weekly coverage of two 15 hour days) addiction telemedicine job in California that is offering malpractice as a W4 employee but no malpractice if I wish to be a 1099 (independent contractor). The benefit of each is of course not having to figure out the complicated taxes and getting malpo insurance through the employer as a W4 VERSUS independent benefits as a 1099. This is not my primary job so insurance or retirement benefits don't come into play. The job pays $1500/week so I was thinking the 1099 may be a better option because I will owe quite a bit of taxes.
I've never held a position where I have had to get my own malpo. For those of you that work in addiction/telemedicine - what limit of liability do you select? In the quote function CM&F provides, behavioral health/psych in class P1 (that AAPA describes as nonsurgical) and telemedicine in class P3 (AAPA describes as surgical). I imagine this is due to the risks associated with telemedicine? Selecting both behavioral health/psych and telemedicine (since I am doing telemedicine for addiction) gives me a $1,000,000 / $6,000,000 policy quote. I've only ever been offered a $1,000,000/$3,000,000 policy by my employers and I wonder if even that is more than what would be needed as an independent contractor. What do you guys normally get? Should I be selecting both classes or only telemedicine?
Trying to make an informed decision on my employment status once I take malpo into account but what would you do if in my shoes?
Thank you in advance!