Benefits

Most physicians are independent professionals and not employees. Therefore, you are responsible for securing and managing your own benefits. That said, there are some alternatives to fee for service practices that can offer more traditional group insurance benefits. Because of this, it is important for physicians to keep benefits in mind, especially if discussing such opportunities with a hospital or organization. If you are offered a benefits package, assess it as carefully as you would your salary or bonus.

If you are not a member of a group plan and will be purchasing benefits for yourself and your family, it is a matter of exploring what is available at your practice site and through your local organizations. A good place to start is with the OMA as they can discuss a variety of options with you. You can also review the available types of coverage on their web site: www.omainsurance.com

And don’t forget that PAIRO members are eligible for the Essentials offer, a package that allows doctors completing their residency the opportunity to purchase disability, professional overhead expense and life insurance without providing medical evidence – this is also listed on the OMA web page.

For those eligible to participate in Group Benefit Plans, these are some of the standard benefits available: (Please note that not all group plans offer all of these benefits.)

• Term Life Insurance
• Optional Term Life Insurance
• Accidental Death and Dismemberment
• Long Term Disability
• Extended Health and Dental Care**
  • Prescription Drugs
  • Paramedical Services
  • Vision Care
  • Semi Private Hospital
  • Out of province/country travel medical benefits
  • Dental

** Many of the standard health and dental benefits include some portion of co-payment

Other areas to consider in negotiations:

• Maternity/Paternity leave
  The OMA plan can be found on their web site.
• Vacation/Sick leave

And finally some perks that you can ask about depending on your practice:

• Continuing medical education allowance
• Travel expenses
• Automobile expenses
• Cellular telephones, pagers
• Professional society dues
• Hospital staff fees
• Licence fees
• Journal subscriptions