Malpractice Insurance, Pls Help!

[ALLISONpany]

Hello,

I was offered a job where The physician will cover my malpractice insurance, However (I won’t be under the physician’s malpractice policy.  when I asked why I can’t be under his policy, He said he already had others PAs under his policy and that I needed to get my own, but he will pay for it) As per the contract It is stated that In the event this Agreement is terminated at such time as you have a “claims-made” medical malpractice insurance policy in effect, you hereby agree to: continue to maintain, at your sole cost and expense, the “claims made” medical malpractice insurance policy with such insurance carrier as the P.C. may designate in its sole discretion. Is there any disadvantage when you are not under the PC malpractice policy? Is there a limit of PA’s that can be under one physician’s malpractice policy? Do this mean that I will be an independent contractor?

 

Thank you, any help will be greatly appreciated

[GetMeOuttaThisMess]

OMG, this is the way that you WANT it to be offered.  Get a quote for an occurrence based policy in your name and you’re golden!  Avoid C-M if you can.  I’ll say it again, WTH are these programs teaching?  All it would take is one lunch break during the first year to cover these simple, but frequently asked questions.  OP, I’m not dissing you but understand that a lot of employers themselves don’t understand the difference.

Hey UNT or UTSW; I’d drive over and do this for FREE just to educate your students on the differences and what is entailed with a malpractice claim. Retired Geezer Boomers can still be helpful.

Also, all you new grads and recent grads, READ your state guidelines and even consider having a PDF or printed copy with you at your workplace.

 

Edited May 10, 2021 by GetMeOuttaThisMess

[ALLISONpany]

Thank you so much for taking the time to respond and for your advice!

 

[GetMeOuttaThisMess]

[Arthropathy]

Sounds like you will be required to purchase your own tail coverage

[GetMeOuttaThisMess]

She won’t need tail coverage if she purchases an occurrence based policy.

[Arthropathy]

Right but OP starts they are offering a claims made policy

[GetMeOuttaThisMess]

Ask them for an occurrence policy, maybe you cover the cost difference between what they’re paying for the other PA’s, you wouldn’t need tail coverage in that situation, and your malpractice has nothing to do with being an IC, regardless of who pays for it.  Unless you have absolute, complete control of your work schedule you can’t be an IC.

[ALLISONpany]

 I did follow your advice and was allow to Get a quote for an occurrence based policy   this forum is a blessing

Once again thank you!!

 

[GetMeOuttaThisMess]

Glad I know that a retired Boomer could be of help.  You are more than welcome.

[PA333]

This is helpful. I have been reading about both claims made and occurrence. My office has claims made insurance. What are my options if I leave this office and accept a different job?  Will I need tail coverage? What are my options? 
thank you in advance 

[Mayamom]

OP the cost for the occurrence policy vs claims made will be substantially higher as I'm sure you have figured out.  That's why most offer claims made.

PA333 yes if you leave your current job you will need to purchase tail coverage.  You would need to contact the company that you have your current policy with.  There are some exceptions to this.  For instance when I left my prison job I did not need tail because the policy was still in place to continue covering all of medical personnel working there.

I agree with above.  This stuff need to be taught in school it's very confusing but so important.

[GetMeOuttaThisMess]

4 hours ago, Mayamom said:

OP the cost for the occurrence policy vs claims made will be substantially higher as I'm sure you have figured out.  That's why most offer claims made.

PA333 yes if you leave your current job you will need to purchase tail coverage.  You would need to contact the company that you have your current policy with.  There are some exceptions to this.  For instance when I left my prison job I did not need tail because the policy was still in place to continue covering all of medical personnel working there.

I agree with above.  This stuff need to be taught in school it's very confusing but so important.

The tail won’t be be cheap either.  If you’re stuck with CM (anyone), negotiate the tail coverage cost for when you leave, because you will eventually leave.

Edited May 14, 2021 by GetMeOuttaThisMess

[lit0bell]

On 5/14/2021 at 7:41 AM, Mayamom said:

OP the cost for the occurrence policy vs claims made will be substantially higher as I'm sure you have figured out.  That's why most offer claims made.

PA333 yes if you leave your current job you will need to purchase tail coverage.  You would need to contact the company that you have your current policy with.  There are some exceptions to this.  For instance when I left my prison job I did not need tail because the policy was still in place to continue covering all of medical personnel working there.

I agree with above.  This stuff need to be taught in school it's very confusing but so important.

Once you left your prison job with the C-M, you won't be covered b/c you left the job and would need tail. Correct me if I'm wrong, but the policy is still active, but only for current employees and not you b/c you left. 

Everyone please obtain copies of "Certificate of Insured" every year to make sure your name is on the insurance policy. Also you only have a certain amount of time to buy tail coverage after you leave a job, so make sure you do or else you won't be covered for the statue of limitations and can be sued. 

I wish they emphasized how important malpractice was in school!