Protecting You. Your Family. Your Life.
www.msmsinsurance.org
Our philosophy is that no two businesses have identical needs, nor do they warrant identical treatment. For that reason, we do not begin a relationship by simply providing a solution. For us, a more logical method involves an examination of your unique situation, a diagnosis, a plan of treatment, and only then, a recommended cure.
PROTECTING YOUR PRACTICE
Protecting Your Practice You’ve invested a lot of time, money, and sweat in building your practice, so it makes sense to protect your investment with smart and professional insurance coverage. In fact, business insurance should be an essential part of your practice operations – a necessity for safeguarding your business assets.
What coverage do you need? Business insurance policies come in many forms to cover many needs. Several factors determine what coverage you’ll need and the rate you’ll pay. Here are the most common types of coverage that a physician’s practice need:
Cyber Liability Insurance As the conversion of paper files to electronic formats continue, a greater amount of risk is assumed in complying with new legal or regulatory requirements. These risks may result in data security breaches and even damage to your reputation. It’s happening every single day. The cost of a data security breach and the reputational damage to your practice after a breach occurs may be devastating.
Workers Compensation Insurance Workers Compensation Insurance pays for medical costs and lost wages for employees who have been injured while performing the regular duties of their occupation. Employers with two or more employees are required by the state of Michigan to purchase Workers Comp insurance.
Business Owner’s Insurance (BOP) BOP pays all or part of the costs of losses incurred by covered perils in the operation of a small business. BOP policies are designed to cover property as well as liability. These “package policies” are designed for small businesses. Larger businesses require the more comprehensive coverages offered in Commercial Package and Commercial General Liability Policies.
Directors and Officers Liability Insurance This liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers.
Employment Practices Liability Insurance (EPLI) EPLI deals with wrongful termination, sexual harassment, discrimination, invasion of privacy, false imprisonment, breach of contract, emotional distress, and wage and hour law violations.
Errors and Omissions Insurance (E&O) E&O insurance is a form of liability insurance that helps protect professional advice – and service – providing individuals and companies from bearing the full cost of defending against a negligence claim made by a patient and damages awarded in such a civil lawsuit.
Crime Insurance Crime insurance manages the loss exposures resulting from criminal acts such as robbery, burglary, and other forms of theft.
Don’t leave your practice unprotected. When you’re ready to shop for business owner’s insurance, MSMS Physician’s Insurance Agency has you covered.
PROTECTING YOU (INDIVIDUAL)
Protecting You Health care coverage is one of the most important decisions you make. MSMS Physicians Insurance Agency understands and we want you to feel confident in your choice. MSMS Physicians Insurance Agency offers a wide range of high quality, cost-effective health and prescription drug plans for you. Our individual plans offer head-to-toe coverage, including important preventive care such as exams, screenings and immunizations, prescription drug coverage, and additional options. You choose the plan type (HMO or PPO) that meets your needs.
Get a health care plan that fits your needs! Concerned about your health care coverage and what your options are? Through our network, MSMS Physicians Insurance Agency can help make the selection process easy for you. We know health care, so we’ve put together a lineup of plans that allows you to choose from a variety of appealing benefit levels. We’ll help you pick the options that are right for you, and you’ll be confident in your decision. Our plans fall under three broad categories. This helps you determine which plan is best for you.
1. Classic plans for the traditional buyer
Straightforward designs with comprehensive coverage and lower out-of-pocket costs for you.
2. Savings options that lower costs
Plans paired with Health Savings Accounts (HSA) and health reimbursement arrangements that lower costs and engage you in medical spending decisions. The HSA plans can offer certain tax advantages when you make contributions to an HSA.
3. Wellness rewards promoting healthy living
Wellness incentive plans that offer you lower out-of-pocket costs for your commitment to healthy living.
We have your back! MSMS Physicians Insurance Agency consistently offers you new, innovative products and costsaving solutions, as well as providing tools you can use to be a better consumer of health care. And we remain your trusted partner to provide the information and guidance you need to choose a complete solution for your business.
Dental Insurance MSMS Physicians Insurance Agency Delta Dental plans provide an excellent opportunity for you to obtain protection for yourself. Delta Dental is one of America’s largest, most experienced dental carriers. As the marketplace leader, they deliver unmatched quality and value in their programs and services. Delta Dental provides millions of Americans with affordable access to oral health care by offering innovative and cost-effective products that meet their needs.
Vision Insurance Keep your eyes healthy with MSMS Physicians Insurance Plan and VSP® Vision Care. Your eyes deserve the best care to keep them healthy year after year. With VSP, you’ll get a great value on your eyecare and eyewear. With VSP, you’ll like what you see: • Value and savings. Your exam and eyewear will be at affordable prices. • Personalized care. You’ll get quality care that focuses on your eyes and overall wellness with VSP. • Great eyewear. Choose the eyewear that’s right for you and your budget. • Choice of providers. You may choose any eyecare provider – your local VSP doctor, a retail chain affiliate, or any other provider.
Disability Insurance Disability Insurance is designed to replace a portion of one’s income if he/she becomes disabled due to accident or illness and cannot perform the duties of their regular occupation. “Own Occupation for Entire Benefit Period” – This type of coverage allows a surgeon who becomes disabled, for instance, to go back to work in the field of internal medicine and still continue to receive his or her disability claim as a surgeon. NOTE: The MSMS PIA preferred carrier is one of the very few that still offers this type of coverage.
Life Insurance Life Insurance is designed to cover the life of an individual in the event of “premature” death. Benefits are paid to a designated beneficiary, usually a spouse, but may also be used for estate-planning and charitable giving situations.
Homeowners Insurance Homeowners Insurance pays to repair or replace one’s home and/or possessions if damage is caused by a covered “peril”. Homeowner policies also include personal liability protection.
Auto Insurance Auto Insurance provides protection for physical damage as well as liability claims as a result of automobile-related incidents. The state of Michigan requires a minimum level of liability coverage for all registered vehicles.
Do you want comprehensive health care tailored to the needs of your practice? With MSMS Physicians Insurance Agency, you’ll get the complete package. Our network provides a complete health care solution and value beyond benefits with innovative plans, cost-saving services and employee support tools created to meet your practice’s needs. You can choose any combination of classic value, wellness rewards, consumer-direct plans, various health-spending accounts and much more. MSMS Physicians Insurance Agency offers a wide range of high quality, cost-effective health and prescription drug plans for you and your practice. Our group plans offer head-to-toe coverage, including important preventive care such as exams, screenings and immunizations, prescription drug coverage, and additional options. You choose the plan type (HMO or PPO) that meets your practice’s needs.
Medical coverage options 1. Classic plans for the traditional buyer
Competitively priced PPO and HMO plans, offering a variety of out-of-pocket costs.
2. Savings options that lower costs
Plans paired with Health Savings Accounts (HSA) and health reimbursement arrangements that lower costs and engage you in medical spending decisions. The HSA plans can offer certain tax advantages when you make contributions to an HSA.
3. Wellness rewards promoting healthy living
Plans with lower premiums that encourages employees to commit to healthy living. With healthier employees, your practice could see higher productivity and lower absenteeism, saving your practice more money.
PROTECTING YOU & YOUR TEAM (GROUP)
Protecting You & Your Team
We have your back! MSMS Physicians Insurance Agency consistently offers you new, innovative products and costsaving solutions, as well as providing tools you can use to be a better consumer of health care. And we remain your trusted partner to provide the information and guidance you need to choose a complete solution for your business.
Dental Insurance MSMS Physicians Insurance Agency Delta Dental plans provide an excellent opportunity for you to obtain protection for yourself. Delta Dental is one of America’s largest, most experienced dental carriers. As the marketplace leader, they deliver unmatched quality and value in their programs and services. Delta Dental provides millions of Americans with affordable access to oral health care by offering innovative and cost-effective products that meet their needs.
Vision Insurance Keep your eyes healthy with MSMS Physicians Insurance Plan and VSP® Vision Care. Your eyes deserve the best care to keep them healthy year after year. With VSP, you’ll get a great value on your eyecare and eyewear. With VSP, you’ll like what you see: • Value and savings. Your exam and eyewear will be at affordable prices. • Personalized care. You’ll get quality care that focuses on your eyes and overall wellness with VSP. • Great eyewear. Choose the eyewear that’s right for you and your budget. • Choice of providers. You may choose any eyecare provider – your local VSP doctor, a retail chain affiliate, or any other provider.
Disability Insurance Disability Insurance is designed to replace a portion of one’s income if he/she becomes disabled due to accident or illness and cannot perform the duties of their regular occupation. “Own Occupation for Entire Benefit Period” – This type of coverage allows a surgeon who becomes disabled, for instance, to go back to work in the field of internal medicine and still continue to receive his or her disability claim as a surgeon. NOTE: The MSMS PIA preferred carrier is one of the very few that still offers this type of coverage.
Life Insurance Life Insurance is designed to cover the life of an individual in the event of “premature” death. Benefits are paid to a designated beneficiary, usually a spouse, but may also be used for estate-planning and charitable giving situations.
Homeowners Insurance Homeowners Insurance pays to repair or replace one’s home and/or possessions if damage is caused by a covered “peril”. Homeowner policies also include personal liability protection.
Auto Insurance Auto Insurance provides protection for physical damage as well as liability claims as a result of automobile-related incidents. The state of Michigan requires a minimum level of liability coverage for all registered vehicles.
As the exclusively endorsed medical malpractice insurer for members of the Michigan State Medical Society, The Doctors Company helps doctors focus on what they do best—delivering care.
Proactive However you practice in today’s ever-changing health care environment, we’ll be there with expert guidance, resources, and coverage. It’s in our DNA to evolve and meet the latest needs of our members, whether they’re looking to expand their telemedicine capabilities or keeping up with the latest trends in patient monitoring.
Risk Management Thanks to our national scope, regional presence, and data-driven insights, we’re uniquely positioned to spot trends early. From more informed risk management resources to clinical event trends and patient outcome information, we shine a light on risks others don’t see. It’s all so you can focus on caring for patients instead of defending your practice.
Strong Defense We’re always looking ahead to help our members anticipate issues before they can become problems. Because when your reputation and livelihood are on the line, you need a strategy made for your success both in and out of the courtroom. Our experts help you understand why physicians get sued, while our legal defense teams work alongside you to prepare you for any kind of litigation.
Innovation Technology is advancing medicine by leaps and bounds. At the same time, the digitization of health care is disrupting the medical industry to its core. Through all these changes, doctors and practices have looked to us for guidance, coverage, and leadership. We were one of the first to offer cyber protection and regulatory risk education, and we continue to be out in front with the right information and coverage.
PROTECTING YOUR PROFESSIONAL ADVICE
Protecting Your Professional Advice
When your reputation and livelihood are on the line, you need a powerful ally on your side. TDC offers unparalleled benefits for MSMS members: • TDC’s program discount of 5 percent is available for qualified members with favorable claims history. • Additional claims-free credit of up to 25 percent for eligible members. • VerdictGuard® provides an additional $1 million in coverage when you carry policy limits of at least $1 million/$3 million. • Unsurpassed coverage options, including standard claims-made with free tail after one year (for mature claims-made policy), occurrence, and claims-made with prepaid tail.
TDC relentlessly defends you in and out of the courtroom: • Ironclad consent-to-settle guarantee. • Educating physicians facing claims to be active participants in their own defense, based on Michigan’s unique legal environment.
TDC offers strength, stability, and unrivaled protection: • 78,000 members nationwide and more than $4 billion in assets. • Rated A by A.M. Best Company and Fitch Ratings. • Innovative coverage solutions for cyber threats and regulatory reviews.
TDC offers rewards for members, not shareholders: • Tribute® Plan, an unrivaled financial career award, recognizes physicians for their loyalty and commitment to the practice of good medicine. • More than $50 million paid in Tribute awards—the highest to date is $138,599. • Nearly $400 million paid in dividends to their members.
Whether you’re choosing medical malpractice insurance for the first time or seeking additional coverage for an established practice, selecting the right insurer is one of the most important decisions you’ll make.
PROTECTING YOUR PROFESSION
Protecting Your Profession The MSMS Physicians Insurance Agency began business operations in 1988. It is a wholly-owned subsidiary of the Michigan State Medical Society and is considered a physician’s single source for any kind of insurance – professional or personal. Through supporting MSMS Physicians Insurance Agency you’re supporting your professional society, the Michigan State Medical Society. Focusing on your interests as a physician, MSMS advocates for you in the state and federal legislatures; defends patients; protects public health, Medicaid funding, scope of practice, and, tort reform; collaborates with third-party payers; and, provides educational opportunities, practice resources, reimbursement/coding assistance, and legal and regulatory guidance. By purchasing your insurance through MSMS Physicians Insurance Agency, you not only receive a great product with superior customer service, you also support your society. The earnings are kept within MSMS to support the advocacy, education, and resources that are important to physicians and the practice of medicine.
About the Michigan State Medical Society The Michigan State Medical Society (MSMS) represents more than 15,000 physicians and medical students, including physician organizations and group practices. MSMS was incorporated on June 5, 1866 “to elevate professional and medical education and to cultivate the advancement of medical science.” The current mission of MSMS is to improve the lives of physicians so they may best care for the people they serve. As a not-for-profit, the Michigan State Medical Society (MSMS) is a business advocate and practice resource for Michigan physicians. From our headquarters near the Michigan State Capitol, MSMS lobbies for pro-medicine policies and tracks hundreds of legislative proposals each year. As a voice for physicians, we score major victories and make Michigan a healthier place to live and practice medicine. Our legislative presence means we know Michigan health care laws inside and out. MSMS monitors, analyzes, and reports changes as they happen, turning our expertise into products and services that help physicians more easily understand and comply with complex laws and regulations.
MSMS Subsidiaries and Partners MSMS Practice Solutions Saving physician members time and money through a variety of discount programs, MSMS Practice Solutions finds ways to decrease your expenses while continuing to practice medicine. See the full list of partners by visiting http://MSMS.org/PracticeSolutions.
Physicians Review Organization (PRO) Founded in 1983, Physicians Review Organization is an accredited independent medical review organization. Recognizing that hospitals and medical staff have the responsibility to maintain highquality standards, PRO has developed a unique peer-review approach to meet these standards. Learn more by visiting http://PhysiciansReview.org.
Professional Credential Verification Service (PCVS) PCVS is a National Committee for Quality Assurance (NCQA)-certified and Utilization Review Accreditation Commission (URAC)-accredited Credentials Verification Organization (CVO). PCVS is a non-profit corporation which provides primary source credentialing verification services for hospitals, physician practices, health plans, and other health care organizations. PCVS is one of only six CVOs in the nation that is dually assessed by both NCQA and URAC; and, one of only two that is a not-for-profit. More information is available by visiting http://PCVS.net.
Quantum Medical Concepts (QMC) Providing early-stage investment funding to Michigan companies in the medical sector, Quantum Medical Concepts was founded by the Michigan State Medical Society. Along with investing up to $250,000 in startup funding, QMC provides access to medical professionals and active management support for its portfolio companies. Find out more by visiting http://QuantumMedicalConcepts.com.
GET PROTECTED. GET A QUOTE!
Get Protected. MSMS Physicians Insurance Agency’s licensed agents can help physicians with all their insurance needs – for their medical practice, employees, and families. Our agents continually strive to offer physicians the best insurance coverage at the best price. If you are interested in lowering your insurance rates or simply want to compare your current premium to what is available, we encourage you to contact us to explore your options and receive a preliminary quote. To request your quote, please complete and return the form on the following page via mail, email, or fax.
Contact MSMS Physicians Insurance Agency: Call:
Toll-Free 877-PIA-ASK-US (877-742-2758)
Click:
msmsinsurance.org
Email:
msms@msmsinsurance.org
Mail:
MSMS Physicians Insurance Agency
120 West Saginaw Street
East Lansing, MI 48823
Fax:
(517) 324-4327
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120 West Saginaw Street, East Lansing MI 48823 » Toll-Free Phone: 877-PIA-ASK-US (877-742-2758) » www.msmsinsurance.org
Protecting You. Your Family. Your Life. MSMS Physicians Insurance Agency is uniquely qualified to offer our insurance portfolio to Michigan physicians, their families, and office staff. We make it OUR business to know YOUR business.
GET A QUOTE TODAY.
120 West Saginaw Street, East Lansing MI 48823 » Toll-Free Phone: 877-PIA-ASK-US (877-742-2758) » www.msmsinsurance.org