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Purchasing Tail Coverage

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  • Purchasing Tail Coverage

    I'll be leaving my job in a few months and will be responsible for purchasing tail coverage. Any advice or things to watch out for? Contract states I need to purchase a policy with at least the same coverage (1,000,000/3,000,000) for unlimited duration, paid in full upfront.

  • #2




    I’ll be leaving my job in a few months and will be responsible for purchasing tail coverage. Any advice or things to watch out for? Contract states I need to purchase a policy with at least the same coverage (1,000,000/3,000,000) for unlimited duration, paid in full upfront.
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    Whose contract? Why unlimited duration, shouldnt it just go to the last date of pt seen and then the length of whatever your states statute of limitations is?

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    • #3
      My current employer requires it this way. I tried negotiating it but they didn't budge and it was the only job in the area for me.

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      • #4
        Shop around. Pricing can be quite variable. (Like 2-3x from least expensive to most expensive)

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        • #5




          My current employer requires it this way. I tried negotiating it but they didn’t budge and it was the only job in the area for me.
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          Not sure they really have any say in it. You may want to consult an attorney honestly. That doesnt really make sense. Are you in a pedi specialty or state where you can just be sued forever? In california, if they dont sue you within a year, its too bad. Seems odd to have coverage outlasting whatever your state/specialty requires.

          If they want above that maybe they can pay the difference.

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          • #6
            In my younger days I remember having to cough it all up in full before the last day of work. At the same time as buying and selling a house and moving. That was a stressful time.

            Good luck! Echo the others--why beyond statute of limitations and encourage shopping around.

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            • #7







              My current employer requires it this way. I tried negotiating it but they didn’t budge and it was the only job in the area for me.
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              Not sure they really have any say in it. You may want to consult an attorney honestly. That doesnt really make sense. Are you in a pedi specialty or state where you can just be sued forever? In california, if they dont sue you within a year, its too bad. Seems odd to have coverage outlasting whatever your state/specialty requires.

              If they want above that maybe they can pay the difference.
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              In radiology there is a theoretical 21 year liability (in my state). If you read a newborn chest x-ray or ultrasound, you can be sued 21 years later--18 plus 3 year statute of limitations. I was once asked to consult on a case where the defendant radiologist, who read an X-ray  pelvimetry case 20 years earlier, was in a nursing home with Alzheimer's.

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              • #8
                Agreed. Both of my suits were after I left my job (one locums and one actual employed gig). Definitely get the tail if your prior employer does not cover it (I actually make sure anyone I work for does cover it). Both suits are frivolous but knowing I had the tail coverage was huge.

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                • #9
                  I had an attorney look at it. I work for a large company in an adult medical specialty. She has reviewed contracts from this company before and said it was pretty normal for the company to demand this. I wasn't thrilled about it, but without any leverage/other offers, wasn't able to negotiate much.

                  I will probably call a few malpractice insurance brokers and get some quotes. I had briefly inquired about prices

                  Regarding the question about the length of tail coverage, the attorrbey pointed out that the company wants indefinite coverage in case the laws change and the statue of limitations is extended after a physician leaves. Seemed odd, but again, I had no choice. They also want it paid in full up front so they know 100% they are covered. If I don't provide a COI before my last day, they take it out of my last paycheck

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                  • #10
                    Ob tail coverage is also 21 years.  My carrier requires no payment if you have continuous coverage with them for 10 years.

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                    • #11
                      Thats wild for the forever liability, another one of those things they dont talk about in medicine. Guess it'd be something you just never wanted to think about as thats a lot of potential liability.

                       




                      I had an attorney look at it. I work for a large company in an adult medical specialty. She has reviewed contracts from this company before and said it was pretty normal for the company to demand this. I wasn’t thrilled about it, but without any leverage/other offers, wasn’t able to negotiate much.

                      I will probably call a few malpractice insurance brokers and get some quotes. I had briefly inquired about prices

                      Regarding the question about the length of tail coverage, the attorrbey pointed out that the company wants indefinite coverage in case the laws change and the statue of limitations is extended after a physician leaves. Seemed odd, but again, I had no choice. They also want it paid in full up front so they know 100% they are covered. If I don’t provide a COI before my last day, they take it out of my last paycheck
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                      You had a strange lawyer, their job shouldnt be to explain why the practice wants what they have as thats obvious, but to fight for a better position for you.

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