Tail coverage cost?

[TXkhmerPa]

Hey y’all,

I interviewed at a derm office and they said they don’t offer tail coverage.  Due to the high liability in dermatology,  I’m very concern.  How much does tail coverage cost? Can I buy my own policy (Nose and tail) in addition to the current policy offered by the practice? I don’t know if my question mAke any sense.  Please advise.  Thank you!
 

Thanks!

[mgriffiths]

Yes, you can purchase your own tail coverage...to cover your own tail (get it......sorry). You can even purchase your own malpractice, which some recommend on top of your employer's coverage anyway.  In terms of cost it would depend on a variety of factors, like time covered, amount of coverage, etc. so hard to give an idea.  You can contact different companies and request a quote.  I would personally recommend setting up a burner email for this, as the one time I requested quotes they continued emailing me almost daily for weeks and I continue to get emails every few weeks from them.

The other thing to confirm is the type of insurance that is offered by your employer.  With one employer I was trying to negotiate tail coverage until the manager realized they actually offered occurrence - which doesn't need tail.

[TXkhmerPa]

Thanks for your feed back:). My current employer offer “claims made”. Does that mean I don’t have tail currently?  The derm practice that I interviewed told me that they do not offer tail.  Can I buy nose and tail (full coverage)? Should the policy be (occurrence or claims made)?  Thanks!!!

[mgriffiths]

You need to research the difference between occurrence and claims made.  I am by no means a malpractice insurance expert, but from my understanding is that with claims made you DO need tail coverage.

As stated, you absolutely can purchase personal malpractice insurance in any form.

Whether the policy be occurrence or claims made is up to you.  Again I'm not an expert, but I would expect occurrence to be more expensive (or at least initially, because you have to consider the cost of tail coverage later on).

[PAtoMD]

Does anyone know how long one would need to have tail coverage for? Or does statute of limitations vary by state? 

[rev ronin]

5 minutes ago, PAtoMD said:

Does anyone know how long one would need to have tail coverage for? Or does statute of limitations vary by state? 

I believe it's two years.

[mgriffiths]

43 minutes ago, PAtoMD said:

Does anyone know how long one would need to have tail coverage for? Or does statute of limitations vary by state? 

 

38 minutes ago, rev ronin said:

I believe it's two years.

Could certainly be state dependent, but when I was in PA school I believe we were taught that the timeline for statute of limitations begins when the patient learns of the malpractice.  An example we were given was a general surgeon who left a sponge in a patient something like 10 years before the lawsuit was filed.  Supposedly the patient had some issues with initial recovery, but then the body walled off the sponge and they were fine.  Many years later some issues developed and a repeat surgery found the sponge as the cause.  I would certainly recommend people confirm this though.

[PAtoMD]

20 minutes ago, mgriffiths said:

 

Could certainly be state dependent, but when I was in PA school I believe we were taught that the timeline for statute of limitations begins when the patient learns of the malpractice.  An example we were given was a general surgeon who left a sponge in a patient something like 10 years before the lawsuit was filed.  Supposedly the patient had some issues with initial recovery, but then the body walled off the sponge and they were fine.  Many years later some issues developed and a repeat surgery found the sponge as the cause.  I would certainly recommend people confirm this though.

Yeah it appears the max in my state is 5 if the harm is delayed, otherwise its 2. One year for foreign objects left in surgery. 

Edited February 7, 2020 by PAtoMD

[Mayamom]

Tail coverage is extremely expensive that's why no one offers it.  And 2 years is not enough.  If their is a death the statue is 3 years.  When I stopped practicing in August I was offered to purchase tail or just keep the current policy going which would keep me covered.  I went with the latter since it was less costly.  If you can speak with an agent at the insurance carrier they are very knowledgeable and helpful.  

When I've left other jobs I never purchased tail.  If the prior company keeps the same policy in place and a claim is made then you are protected.  That my understanding at least. 

[SedRate]

https://www.ncsl.org/research/financial-services-and-commerce/medical-liability-malpractice-statutes-of-limitation.aspx

According to this, it is state-dependent and the timeline of some states vary depending on discovery versus act.

[PAtoMD]

4 hours ago, Mayamom said:

Tail coverage is extremely expensive that's why no one offers it.  And 2 years is not enough.  If their is a death the statue is 3 years.  When I stopped practicing in August I was offered to purchase tail or just keep the current policy going which would keep me covered.  I went with the latter since it was less costly.  If you can speak with an agent at the insurance carrier they are very knowledgeable and helpful.  

When I've left other jobs I never purchased tail.  If the prior company keeps the same policy in place and a claim is made then you are protected.  That my understanding at least. 

Right, sometimes it sounds like having your own policy on top your employers can protect you without having tail. I need to reach out to a insurance company

[TXkhmerPa]

16 hours ago, Mayamom said:

Tail coverage is extremely expensive that's why no one offers it.  And 2 years is not enough.  If their is a death the statue is 3 years.  When I stopped practicing in August I was offered to purchase tail or just keep the current policy going which would keep me covered.  I went with the latter since it was less costly.  If you can speak with an agent at the insurance carrier they are very knowledgeable and helpful.  

When I've left other jobs I never purchased tail.  If the prior company keeps the same policy in place and a claim is made then you are protected.  That my understanding at least. 

$10k a year expensive?  Generally speaking, tail cover you if a former patient from a former practice decide to sue you?  So when a PA start a new job and a tail is offered by the new employer, should you leave the job later, you’re protected if you get sued?  Thanks!

[ventana]

one of the big things to look into

 

many times we are sort of an "add on" to these claims made policies and in fact we are still covered if the policy is still in effect

so if the doc's continue to pay the premiums and keep the policy in effect you are covered, as well if the doc's close and they purchase a tail you are covered, and if the docs close and do not buy tail, you are not covered

 

really confusing indeed, but I learned enough at one job with this situation in my state that when I left I felt comfortable not buying a tail as their is no way in heck they doc's would have ever left themselves uncovered......

[SHU-CH]

On 2/6/2020 at 7:33 PM, PAtoMD said:

Does anyone know how long one would need to have tail coverage for? Or does statute of limitations vary by state? 

Working with kids can also be another issue. Depending upon the state, you might own things that happen to a peds patient until they turn 18. 

[Pac30]

2 hours ago, SHU-CH said:

Working with kids can also be another issue. Depending upon the state, you might own things that happen to a peds patient until they turn 18. 

18 then the 2 year period starts for a few states as well. 

 

*edited for grammar*

Edited February 14, 2020 by Pac30