Doctors Self Insurance ....What's The Difference

There have been requests for this page world-wide..

One of the major reason doctors  become self-insured is to reduce the escalating cost of insurance premiums. More doctors have converted to self- insurance with the realization that it is more cost effective to become self-insured rather than to pay insurance  premiums.

ICC does not only set up a self-insurance plan, ICC provides claim services as well as Risk Management consulting to reduce doctor's exposure.

Not all doctors can become fully self-insured. Some doctors may need a stop loss policy to off set any type of catastrophic loss.

How Do I Know When A Self-Insured Plan is Appropriate?

How to determine if your company should become self-insured?  Add up the premiums your company paid to insurance companies for the past 5 years.  Subtract what the insurance companies paid out in losses for the past 5 years.  If the insurance company collected more premiums dollars than they paid out, your company is a candidate for becoming self-insured.  

Suppose a doctor  paid $250,000.00 in annual premiums. The insurance company paid out $50,000.00 each year in liability claims for the past 5 years. With this assumption, a doctor would have paid 1.25 million  in premiums and the insurance company would have paid out $250,000.00 combined. This would be a $ 1 million dollar profit in insurance premiums. The analysis is self evident..  

The self insurance plan  is designed for Orthopedic Surgeons, Cardiovascular Surgeons, Neurologist, OB/GYN and Anesthesiologist..  

ICC has other programs available for family physicians

Call ICC today at 1 (316) 683-0170 and speak with a  representative directly.