This seems like a simple question, right? You end care with your treating physician and return back to work. Well, let’s look a little closer at what happens after you return from a Total or Residual (partial) Disability.
If you are a salaried (non-owner) physician, then hopefully you will find a new position at a similar salary as you earned pre-disability. What happens if you cannot immediately find a new job or the new jobs available pay a lower salary?
Upon return to full time work, disability benefits can continue. Consider a Recovery Benefit.
If you own your own practice, you will have another set of issues to address upon return to practice. During your absence, your patients had to seek treatment elsewhere. Now, you need to rebuild your practice. Will your former patients return to your care? Where will you practice be located? How long will it take to simply cover expenses with your revenues? How long will it take to rebuild your income to pre-disability levels?
When purchasing a true Own Specialty Disability policy, please make sure to purchase a plan that includes a Recovery Benefit or Back to Work Benefit. Upon return to full time work, disability benefits will continue as long as you have a loss of monthly earnings of at least 15% (even though you are back to work full-time and no longer requiring care from your treating physician).
Suggestion: Purchase a disability plan that will continue to pay even though you have recovered medically but not financially.
Note: Association plans do NOT provide this type benefit.
Do you want to make sure you have this benefit included in your policy? Contact us for a complete review and more information regarding Discounted Own Specialty Disability Insurance.