Key Affinity – Hospital / Physician Coordinated Custom Benefits Program

Hospital Marketplace:

Physicians in medical practices increasingly look to hospitals and healthcare systems as suitors to purchase their practices. Nearly half of all physician practices are now owned by hospitals, according to the 2008 Medical Group Management Association’s (MGMA) annual Physician Compensation and Production Survey. A 2009 survey byAmerican College of Cardiology found that only 33% of cardiologists expect to remain in private practice or a small group practice, while 38.1% said they will actively pursue integration with a health care system. These physicians are looking to Hospitals to provide quality benefit packages.

Our Hospital Disability Program

The hospital | physician LTD program is a custom designed benefit, which is coordinated with individual plans, that can typically bring the total cost down 20% or more from a traditional IDI (Individual Disability Insurance) and other fully underwritten individual products alone. This program offers guaranteed issue (no medical requirements) and while providing “Specialty Occupation Coverage” that covers multiple contingencies.This program is custom designed to provide benefits for the W-2 physicians and the hospital. It currently insures over 300,000 physicians and 10,000 practices across the nation.

Hospital Benefit:

  • Provides Rate Stability design that benefits the on-going cost for hospital (Over the past 5 years, the “pool” has averaged a ZERO percent rate increase.
  • Malpractice payment to hospital if physician is partially disabled
  • Key Man policy payment to hospital if physician is disabled

Physician Benefit:

  • Guaranteed Issue Buy-Up of coverage opportunity for the physician at no cost to hospital
  • Guaranteed Buy-Up pension protection that protects the physicians retirement plan

Best Suited For:

  • Hospitals looking to attract, retain and reward talented physicians to their system.
  • Best Contact: CFO, CEO, President, Board Member or Financial Team