MDAdvantage Insurance Company of NJ announced on January 27, 2012 a significant decrease in premiums for Orthopaedic Surgery EXCLUDING Spine. The new premiums provide a savings of approximately 17%! In addition, OSPA (Orthopaedic Society Purchasing Alliance) members are eligible for another 12.5% discount on their premiums! The premiums for Orthopaedic Surgery INCLUDING Spine remain the same, and the OSPA discount of 7.5% is still available.
The good news is: All Orthopaedic Surgeons (who do not perform Spine surgery) insured with MDAdvantage realized significant savings at renewal after April 1, 2012. For new applicants, the premium savings were effective February 1, 2012.
The OSPA continues to provide premium savings to all their members. The savings on the medical malpractice premiums are substantial compared with the $1000 annual membership fee (or $2000 prepaid for 3 years). This membership fee is discounted for new-to-practice Orthopaedic Surgeons.
OSNJ Medical Liability Insurance Purchasing Alliance: Members of the OSNJ MLIPA can take advantage of discounts of up to 12.5% on their malpractice premiums
As mentioned above, discounts would apply to all Orthopedic Surgeons who qualify for the Medallion, Preferred or Standard premium tiers. Tiers are dependent on claims histories and other underwriting criteria
For more information, please contact PriMed Consulting.
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