If you seeking a new policy or are reviewing a current one (see our last post explaining 5 questions you should ask during a physician disability policy review), you may be trying to decipher between an individual plan and one from a medical association. Many Medical Associations offer a long term doctor disability plan as a member “benefit”. Some of these associations include, but are not limited to, The American Academy of Family Physicians (AAFP), American College of Radiology (ACR), American College of Obstetrics and Gynecology (ACOG), American College of Surgeons (ACS), American Academy of Pediatrics (AAP), American Medical Association (AMA), and The American Academy of Ophthalmology (AAO).
While there are many differences between an association plan and a private disability insurance plan (premium structure, policy definitions and features, claims processes etc.), today we would like to solely focus on the premium structure differences between the two types.