Its algebra physics vs. calc-based physics. In a real world setting algebra physics teaches you very little as to how the "formulas" actually work. With that said if you want to try to actually "learn magnetism" or what ever other topic they cover, I would suggest for you to take the calc-based. It is of course harder as you are not just manipulating variables, but rather integrating and understanding what derivatives actually are (i.e. Change in charge over change in time). We actually had calc II as a requirement for physics II, not just a coreq as our prof was really intense. We had to do second level differential equations on some of our tests. At the end of the day despite how much I hated it I think I'd do it again. For the amount of money I'm paying for school I feel I deserve the best education I can get my hands on.
As far as med school is concerned, algebra physics prepares you for the MCAT (perhaps calc-based given the longer study times and difficulty of the course work further prepares you) and maybe there are a few adcoms out there who look for calc-physics grades over algebra; but there wouldn't be a decision made on your admission on that alone.
In summary, take the calc if you are man enough, if you are a wussy little girl then you should take the algebra. 👍