Tail Coverage

[makpac]

Hi all,

I have put in my notice to leave my current position (first job out of school) in the next few months & the malpractice policy through the company is a claims made policy. After reading a few posts on this forum & others, I've discovered it may be in my best interest to purchase tail coverage prior to leaving this position. For those of you who have done this before, how does the process work? Do I purchase the tail coverage through the same company that my current job's policy is under? How long should I purchase the tail coverage for? Thanks in advance!

[ventana]

find out more

I had many jobs with claims made, and after researching it was learned that they would continue to cover me as long as the company continued to carry the policy.  If the company changed policies they would need to purchase a tail that I would be covered under.  only exposure for me was if the doc's decided to go without insurance....  which in my cases was not going to happen....

[SedRate]

Some thoughts:

1. Check your contract/agreement paperwork to see if tail coverage will be contractually provided.

2. Contact the policy insurer to see if tail is provided and at what term.

3. Ask your employer to provide tail.

4. Ask the insurer how much a tail policy is or if you can assume the policy and continue paying for it on your own.

5. Ask your new employer to reimburse you for your own policy or pay for nose coverage. 

6. Get tail coverage included for your next job or carry your own policy so you don't need to worry about it. 

[ventana]

2 minutes ago, SedRate said:

Some thoughts:

 

5. Ask your new employer to reimburse you for your own policy or pay for nose coverage. 

6. Get tail coverage included for your next job or carry your own policy so you don't need to worry about it. 

Bingo. 
 

Medicine specialties expect to pay about $2500/yr.  

[rev ronin]

3 hours ago, ventana said:

Medicine specialties expect to pay about $2500/yr.  

I'm paying about $1800/year. I understand my carrier has three categories of PAs and outpatient, non-procedural PAs are all lumped in to the lowest class.