Top Trends in 2017 For Physicians to Watch

Posted on: January 23, 2017 by Chuck Krugh, CFP

2017 promises to be a volatile and challenging year for the health care industry as a whole. President-Elect Trump is likely to push Congress to make significant changes to the way health insurance is marketed and sold, and doctors are going to be in the middle of it. Smart physicians need to be very agile […]

Posted in: Disability Insurance Financial Planning healthcare Medical News Practice Management

New Years Resolutions for Doctors

Posted on: January 12, 2017 by Chuck Krugh, CFP

The New Year is traditionally a time to act on plans for self-improvement. Millions of Americans will be working to lose weight, to achieve success at work, improve their 2 mile run time, or to achieve a variety of financial and personal goals. Here are some great New Year’s resolutions for doctors to consider: Go […]

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6 Investing Mistakes Doctors Make Too Often

Posted on: December 27, 2016 by Chuck Krugh, CFP

For a bunch of smart people, doctors are notorious for being bad investors. But bad investment decisions are preventable. Understanding the common mistakes physicians make when it comes to investing their money can pay big dividends in the future. Failure to start early. Yes, physicians enter their careers with a lot of debt to pay […]

Posted in: Financial Planning Money Management Physician Money Management Retirement

Doctors Must Improve Cybersecurity

Posted on: December 15, 2016 by Chuck Krugh, CFP

If you’re a physician in private practice, computer security is a critical operation. Since all your patient records are by definition sensitive, personally identifiable information (PII), a data breach or compromise can potentially be very damaging to your patients – and send your practice on a fast track to bankruptcy. We recently learned that 500 […]

Posted in: medical identity theft Medical News Practice Management

Why is Disability Insurance More Expensive for Women?

Posted on: November 9, 2016 by Chuck Krugh, CFP

Occasionally we have clients compare rates for similar individual disability insurance policies for men and women. “Why are rates higher for women,” they ask. The answer: Because it’s worth it! Here’s why: When insurance companies set rates, they base them on their claims experience for similar policy holders in the past. Insurance actuaries are some […]

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Common Disability Insurance Riders

Posted on: October 20, 2016 by Chuck Krugh, CFP

A rider is a special feature or additional guarantee on top of a basic insurance policy. Some riders are available for free – you just have to check the appropriate box on the application. For other riders you may have to pay some additional monthly premium. But depending on your individual situation, the extra guarantees […]

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Dentists! Are You Affected by the Recent American Dental Association Disability Insurance Rate Increase?

Posted on: October 7, 2016 by Chuck Krugh, CFP

Thousands of practicing dentists across the country got some bad news from their disability insurance company last spring: Their affiliated disability insurance company, Great West Life, announced a significant rate increase effective May 1st. Premiums for men increased by about 16 percent, while female dentists were hit even harder, with a premium increase of up […]

Posted in: Association Disability Insurance Disability Insurance Group Disability Insurance

Residents – What They Earn and What They Owe, Nationwide

Posted on: September 27, 2016 by Chuck Krugh, CFP

The average salary for residents for 2016 was essentially unchanged compared to the prior year, at $56,500, according to the recently-released Medscape Residents Salary  & Debt Report 2016. That represents an increase of $100 per year, which is well within the margin of error. Naturally, some specialties out-earned others, and just about everybody out-earned emergency […]

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Young Doctors: Run – Don’t Walk – To Fund A Roth IRA

Posted on: September 7, 2016 by Chuck Krugh, CFP

Young physicians – especially those about to enter residency or still in residency, have a unique tax planning opportunity that’s almost unmatched by any other profession: The opportunity to contribute to a Roth IRA (or Roth 401(k)) while earning an income far, far below their likely income brackets in retirement. And that’s why the Roth […]

Posted in: Financial Planning Money Management Physician Money Management Retirement

Why People In Their 20s and 30s Need Disability Insurance

Posted on: August 23, 2016 by Chuck Krugh, CFP

As a young and healthy person, it’s easy to think of wheelchairs, canes and handicap placards as an issue for older Americans. But that’s just not true. Aside from the risk of accidents and injuries, there are also a number of severe, debilitating and potentially career-ending diseases strike young people even in their 20s and […]

Posted in: disability claims Disability Insurance Doctor disability insurance Medical Residents physicians disability insurance