Long Term Disability Explanation
As a physician affiliated with Atrium Health, you are likely participating in the Group Long Term Disability plan. I am writing this letter to make you aware of the significant limitations inside our plan which may leave us exposed if we were to suffer a disability.
I was recently introduced to InsuranceMD through a colleague of ours who was adamant I speak with them about Long Term Disability Insurance. The agent I spoke with tried to educate me on the importance of having Own Specialty Disability Insurance, but i was convinced I had adequate disability coverage as an employed physician of Atrium. He then took the time to actually provide me with a complete review of our Atrium Health Long Term Disability benefit and what I learned shocked me and that is why i’m taking this opportunity to share what I learned with you:
- Only $10,000 per month of coverageOur Atrium Health plan only provides us with coverage of 50% of our base income up to cap of $10,000 per month based in coverage.
- Our coverage is “NOT” True OccupationOur coverage is only paid to us in full if we are disabled in our specialty but we are not working in any other occupation for wage or profit.
- Only 24 months of coverage for mental healthIf a disability results from a Mental Health Condition, the maximum number of months we may be eligible to receive benefits for is 24 months
- 150 day Waiting PeriodIn order to qualify for benefits under the group plan, we have to first be disabled for 150 “consecutive” missed days of work.
Our Atrium Health Disability is Not Own Specialty Coverage
As you can see from above, our Atrium Health coverage is not adequate for me. I’ve been taught that as a physician, I need Own Specialty Disability Insurance. Our Atrium policy refuses to pay us our full benefit if we elect to work in any other occupation. As physicians, we need a plan that will protect us from a sickness or injury that may disable us from working in our specialty without reducing our benefits if we elect to continue our careers in a different occupation. Our policy should also protect our full income, not just the income we earn as a base salary. Because of these limitations I opted to purchase a supplemental individual Own Specialty policy.
Below is a copy of our Atrium Health plan information.
As physicians we need “True” Own Specialty Protection.
We should have coverage that provides us with “Tax-Free” income should “any” sickness or injury prevent us from working in our medical speciality. That benefit should allow us to earn income in another occupation without reducing our benefits.
Atrium Health – Hospital Landing Page Page 3 of 5 Our disability plan should provide us income protection for both our base and bonus income. Since our health can change as we get older, it’s imperative that our coverage is guaranteed. This means if we leave our current employer that our coverage comes with us until we decide we no longer need the protection. Although this coverage comes with a price, the cost of not having it far exceeds what we will pay.
Please take a moment to fill out the form below to speak with the agent who has helped me and others affiliated with Atrium to obtain “True” Specialty Coverage.
Dr. Emily S