Tail Coverage

[Dansk2011]

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Looking to start a new gig and the contract for said job states that the I would be responsible for tail coverage (not occurrence based malpractice) regardless of reason of termination. My last job covered my tail and I thought that it was fairly standard for the practice to cover the tail. Otherwise, I figured that if I was let go without cause, they should at least cover the tail. Does that seem right and is that common in PP?

 

[willabeast]

tail coverage can be expensive. FYI.

 

[Dansk2011]

tail coverage can be expensive. FYI.

I am definitely aware. That's why I'm curious as to what the standard is, as I wouldn't want to be responsible for having to pay, especially if there is a possibility of being terminated without cause and being responsible for payment.

 

[hyperalgesia]

I am definitely aware. That's why I'm curious as to what the standard is, as I wouldn't want to be responsible for having to pay, especially if there is a possibility of being terminated without cause and being responsible for payment.

I guess it's a little unusual but there are all kinds of arrangements out there. The cost of your tail will depend on how long you were practicing. So if you were fired after 6 months, you're probably looking at a low cost of tail.

Rather than quibble over how they pay you, I would just add up the whole package and see it it's good for you and if/how you want to negotiate. Would you rather have a higher salary or tail coverage?

 

[Ferrismonk]

I'm in a somewhat similar situation. Any recommendations on a good place to purchase tail coverage?

 

[pastafan]

Don't purchase tail coverage since it runs ~1.5X current max premium. It is cheaper to but "nose" coverage from your new insurer.

 

[cowboydoc]

Looking to start a new gig and the contract for said job states that the I would be responsible for tail coverage (not occurrence based malpractice) regardless of reason of termination. My last job covered my tail and I thought that it was fairly standard for the practice to cover the tail. Otherwise, I figured that if I was let go without cause, they should at least cover the tail. Does that seem right and is that common in PP?

Everything is negotiable.

 

[hyperalgesia]

I'm in a somewhat similar situation. Any recommendations on a good place to purchase tail coverage?

It should be offered by your current insurer.

 

[RM38]

Everything is negotiable.

This is true. When I left my last group the insurer we had quoted me 24K for the 2 years I was there and I have never been sued or had any type of board action/complaint. I also was not doing kypho, pumps or SCS implants. I got other quotes and asked a different doc that left our practice what she paid. Got them to come down to 9400 in the end.