davidccs Posted August 1, 2018 Share Posted August 1, 2018 Hello, I was given an offer for 145k/year for ED, 140 hours per month. Thats it. Its a contractor position. Could anyone give me an idea of what all I could expect to pay out of pocket for? any idea of what the annual take home would be? Thank you! Link to comment Share on other sites More sharing options...
Moderator EMEDPA Posted August 1, 2018 Moderator Share Posted August 1, 2018 that's 86.30/hr. hopefully they cover malpractice...if they don't that is a nonstarter in my opinion. you need to cover medical/dental/vision/disability/cme/retirement/professional memberships/dea/licensing. expect to spend 20-25/hr or so for the above, making your salary 61-66.30/hr. still not too bad for a new grad in em. if you are 1099 you can write off most of the above, plus mileage, scrubs, lab coats,etc. get yourself a good accountant. Link to comment Share on other sites More sharing options...
ohiovolffemtp Posted August 3, 2018 Share Posted August 3, 2018 Once you're paid all the expenses EMED mentioned, plan on taking home about 60 cents on the dollar after taxes. Link to comment Share on other sites More sharing options...
davidccs Posted August 3, 2018 Author Share Posted August 3, 2018 Thx for the replies, seems like a lot of paperwork to keep track of. F/U question: If I get malpractice with tail at a full time job, would that cover me if I take on a 1099? or do I need a separate malpractice and tail? Link to comment Share on other sites More sharing options...
ohiovolffemtp Posted August 4, 2018 Share Posted August 4, 2018 Your malpractice policy will only cover you at the site(s) where you work for that employer. You'll need separate med mal for/from each employer. Also, keep track of who the insurer was, policy number, etc. You'll have to supply evidence of prior malpractice coverage every time you want to be credentialed at a new site. Link to comment Share on other sites More sharing options...
davidccs Posted August 4, 2018 Author Share Posted August 4, 2018 I see, thank you! Link to comment Share on other sites More sharing options...
willber Posted August 5, 2018 Share Posted August 5, 2018 Make sure you check out AAPA for malpractice. I believe they have really good rates for new grads? Link to comment Share on other sites More sharing options...
MT2PA Posted August 5, 2018 Share Posted August 5, 2018 1 hour ago, willber said: Make sure you check out AAPA for malpractice. I believe they have really good rates for new grads? Only for the first year then it's not so great. Link to comment Share on other sites More sharing options...
Moderator EMEDPA Posted August 6, 2018 Moderator Share Posted August 6, 2018 3 hours ago, MT2PA said: Only for the first year then it's not so great. yup, most of them do that bait and switch with $1500 yr 1 then > $6k after that Link to comment Share on other sites More sharing options...
davidccs Posted August 6, 2018 Author Share Posted August 6, 2018 lol bait and switch.... gotta love it. Link to comment Share on other sites More sharing options...
MusicalPA Posted August 7, 2018 Share Posted August 7, 2018 On 8/5/2018 at 6:03 PM, MT2PA said: Only for the first year then it's not so great. On 8/5/2018 at 9:35 PM, EMEDPA said: yup, most of them do that bait and switch with $1500 yr 1 then > $6k after that What do you guys think of the new grad rates through CM&F? Liability Insurance For New Graduate PAs At CM&F, we understand that transitioning from school to your first PA job can be a whirlwind experience. You’re focused on patient care, not expensive malpractice insurance. That’s why we offer low-cost malpractice coverage to recent graduates. If you have graduated within the past year and you are applying for full-time coverage, you are eligible for a lower annual premium while you are building your career. How does a convertible claims-made policy work? The Claims Made Convertible policy allows your Claims Made policy to convert to an Occurrence policy after 5 consecutive loss-free years of coverage with CM&F / Med Pro. After the completion of that 5th year you must purchase a full year Occurrence policy at which point we will issue an Extended Reporting Endorsement. This endorsement covers services subsequent to the retroactive date and prior to the expiration of the Claims Made Policy. The premium normally due for this ERP endorsement will be waived. Claims Made can be confusing so please contact us directly to discuss with our team at CM&F. Lower Annual Premium for First 5 Years! CLASS 1st YEAR 2nd YEAR 3rd YEAR 4th YEAR 5th YEAR P1 $300 $750 $2,500 $3,700 $4,100 P2 $300 $750 $2,500 $5,000 $5,450 P3 $300 $750 $2,500 $5,700 $6,350 Get a 10% Premium Credit Find out Link to comment Share on other sites More sharing options...
Moderator EMEDPA Posted August 7, 2018 Moderator Share Posted August 7, 2018 your employer should cover your malpractice. In 22 years as a PA I have never paid for my own. Link to comment Share on other sites More sharing options...
MT2PA Posted August 7, 2018 Share Posted August 7, 2018 ^Agreed. Something just feels off about it. They are really banking on you staying 5 years to transition to the occurrence but don't tell you how much that will cost. If you stop after a year or two or anything less than 5, what kind of tail policy will you have to buy? I can't imagine it will be cost effective. I also found it interesting how much cheaper the NP rates are through the same company (you can see what the new grad rates are on the website). Link to comment Share on other sites More sharing options...
MusicalPA Posted August 7, 2018 Share Posted August 7, 2018 54 minutes ago, MT2PA said: ^Agreed. Something just feels off about it. They are really banking on you staying 5 years to transition to the occurrence but don't tell you how much that will cost. If you stop after a year or two or anything less than 5, what kind of tail policy will you have to buy? I can't imagine it will be cost effective. I also found it interesting how much cheaper the NP rates are through the same company (you can see what the new grad rates are on the website). I agree that the employer should pay malpractice. Reading on this forum and other places. Some PA's think it is beneficial to have your own policy to help protect your interests and not just the companies when you are on a company policy. So couldn't an employer just reimburse you for the coverage you want? I also just did a standard quote without the new grad deal and it was like 6681.00 for occurrence for an ortho surgery specialty. I don't know if that is about what the premium would be if you went the new grad discount route at the 6 year mark. Link to comment Share on other sites More sharing options...
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