Tail Insurance

[oceanrock]

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Hello all,

I think I undertand "Tail Insurance"; but if some one could comment on what it means practically, that would be great?

Approx how many pathogists in private groups have tail insurance?

Do most employers (private groups) put tail insurance in contract?
If not, then why not. Is it just the additional cost?

Is tail insurance something to be absolutely insisted upon when singing contract?

 

[gungho]

Hello all,

I think I undertand "Tail Insurance"; but if some one could comment on what it means practically, that would be great?

Approx how many pathogists in private groups have tail insurance?

Do most employers (private groups) put tail insurance in contract?
If not, then why not. Is it just the additional cost?

Is tail insurance something to be absolutely insisted upon when singing contract?

i don't know how you would answer your first question about the # of pathologists with tail coverage (also called an "endorsement").

as to the 2nd question, again tough to answer that with any degree of comprehensiveness, but from what i've seen myself or heard from others in the job search, tail coverage is not usually included-why would it be? why would a group offer tail coverage when it's for when you leave for another group? now, it may be written into partnership agreements for when a partner retires, but i don't know.
i have heard of groups offering to pick up the tail if you are leaving a group to join their group, but i don't know how common that is-my guess would be not very.

as to the 3rd, you can certainly insist on it-just decide whether that's a deal breaker for you.

 

[oceanrock]

Thanks gungho. finally some one bothered to answer a practical question which I am sure many many ppl getting out of fellowships this year would appreciate.
C'mon Yaah, Arcticchair, LAdoc00...u have been good about giving advice!

I was just wondering if a majority or minority of ppl in private groups currently have tail insurance.

Is it something that can be done/negotaited if you leave a group? or does it have to be part of new joining contract?

Frankly, how big a deal is it, folks?

 

[yaah]

I really don't know how many people or groups have it. My group will not provide it for me if I leave them. Many people negotiate that a group will pay for their tail coverage for their previous job if they join.

There are some good articles online which explain it well. Just google "malpractice tail coverage."

 

[oceanrock]

Thanks Yaah. Much appreciate your input.
Thanks to gungo as well 🙂

 

[dodobird13]

bumpity bump

what's standard? it's totally the responsibility of the leaving doc? or do groups agree to share the cost after a given period of employment? and then should you leave the group, is it standard for the new group to pick up the cost? maybe "standard" is not the right word, maybe "average"?

 

[LADoc00]

Tail insurance isnt really an issue from my experience with "most" pathologists, key emphasis on most.

Most groups will NOT pay for it should you leave the practice, in fact I have never seen this offered in any state I have looked at. And it would be something they mention up front, I doubt once you are in the group and ready to leave you could somehow negotiate for it. Realize this: you do NOT need tail if you are moving from a self-insured practice like a VA hospital or county job to a private group AND you dont need tail if you are carrying a policy in your own name and simply move to a new group and keep your member number. That would cover the issue for 99% of pathologists.

For many of us this simply isnt an issue, if you are with a malpractice co. like Doctors or Norcal and are consistently a client for a number of years, when you retire, tail is free (or at least that is what I have been told..we will see). Regardless, I dont plan on retiring to a place where I can be "found" anyway so it isnt a concern.(and I will say a suprising number of physician do 'disappear' upon retirement, not many but some definitely do)

I will say this: there is a sort of finite window you are concerned with as a pathologist due to the delay factor of the profession, in my estimate it is about 6mos-5 years. Anything older than 5 years is really a non-issue.

You need to think of malpractice insurance similar to other insurance, the relationship is with YOU and underwriting. Not with the group and underwriting, nor with the hospital and underwriting. Therefore it moves as you move. Job hopping isnt particularly an issue unless you also hop carriers.

 

[dodobird13]

very useful that's kind of what i was looking for... thanks