Moonlighting Malpractice

[Mitch Connor]

Looking through residency programs I have found some that allow moonlighting, but require you purchase an additional malpractice policy. I know very little about malpractice insurance, but it looks like it can be expensive. How do residents who moonlight afford the extra cost of an additional policy? Is there some discounted rate for residents?

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[VA Hopeful Dr]

Looking through residency programs I have found some that allow moonlighting, but require you purchase an additional malpractice policy. I know very little about malpractice insurance, but it looks like it can be expensive. How do residents who moonlight afford the extra cost of an additional policy? Is there some discounted rate for residents?

Good moonlighting places will cover your malpractice insurance.

 

[Moose A Moose]

Haven’t had any requirement for additional malpractice coverage for moonlighting with my residency program.

 

[thumbz]

In house moonlighting tends to not need any extra coverage.

Outside moonlighting will - as an IM doc in 2018 my premium was $1800 for the year, and the deal with the hospital was if I covered at least 8 shifts over the course of the year they would reimburse my premium. I found malpractice to be much, much cheaper for moonlighting because it was so few expected hours/month. Good news too is moonlighting is 1099 so your $1800 is entirely tax deductible against your income which helps.

 

[Mitch Connor]

Good comments! One other thing to consider is that your first year of moonlighting, malpractice insurance premiums are the cheapest.

Your second year, they are the second cheapest and your third year the third cheapest.

Malpractice premiums continue to go up usually for 3 to 7 years depending on several factors. They could double multiple times within that timeframe.

Point is if you moonlight for a couple years during training, you could end up with a decent size tail.

Best wishes!

As in a tail to cover with malpractice once you leave residency?