Who can answer all of your questions about Long Term Health care?
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WFUBMC House Staff

As of July 1, 2010, all residents and fellows will be insured by a group Long Term Disability Insurance plan via The Standard Insurance Company. Benefits cover 66 2/3% of salary to a maximum of $3,000/month, with benefits payable to age 65. This is a substantial increase over the combined maximum of $2,300/month that has been in effect over the past several years, as Wake Forest continues to ensure that benefits remain in line with the rising pay scale for residents.

So, if you earn $47,000, for example, you would have 66 2/3% of that income insured which becomes $2600/month. It is not until you reach $54,000 of annual income that you would cross the maximum of $3000 in monthly benefit. For the vast majority of you completing your training, you will be fully insured in this group plan at the 66 2/3% replacement level.

One thing to keep in mind…since the hospital pays this premium for you, any benefit would be taxable as ordinary income. So, many will consider securing a small supplemental individual disability policy to insure that taxable loss and get you as close to whole as possible. We have negotiated a discount for all officers to help make this more affordable if interested. Please simply complete the quote request form and provide us with your name, date of birth, and specialty and we will get you the information right away.