Group Coverage Highlights:
- Resident pays no premium for this coverage while in training.
- Plan is offered by the Standard Insurance Company, AM Best A rated company.
- Monthly disability benefits payable beginning the 91st day of disability.
- Benefits generally are payable to age 65 as long as you remain disabled.
- Monthly benefit levels:
PGY I & II $3,000
PGY III & IV $3,500
PGY V & above $4,000
- Guaranteed issue (no medical exam, tests, etc.) group-to-individual conversion policy (and increase in coverage) offered to residents exiting GME with successful completion of training program.
For complete details, please view the Certificate of Coverage and the July 2005 Amendment to certificate, or request a hard copy of both from the GME office.
Conversion Policy Features:
- True "specialty specific" definition of disability. This definition will protect you, even in a sub-specialty. If you are unable to do your job, the plan pays, even if gainfully employed in another occupation.
- Up to $5,000/month individual tax-free benefit, plus an additional $8,000 benefit based on earnings.
- Guaranteed issue. No lengthy application, medical exam, health or activity questions. No pre-existing conditions.
- Substantial premium discount exclusively for GME Residents and Fellows. Up to 50% reduction in rates.
- Partial/residual disability benefits. Assures payment when working part-time.
- Benefits payable to age 67.
- Premium remains constant to age 67.
- Annual cost of living adjustments while disabled.
- Special HIV coverage provision.
- One of only a few residency training programs in the nation to provide this type of benefit. May be combined with and will not be reduced by typical, employer-sponsored, group disability plans.
The GME long-term disability policy is administered by Gallagher Benefit Services (GBS) a professional brokerage/benefits consultation firm under contract with GME. The GBS representative is completely versed on the intricacies of the CU GME group and conversion policies; and is available to answer your questions, compare this policy and outside policies, and see how to best serve the needs of the residents, whether during residency, or at program completion. A resident considering any long term disability product is encouraged to take advantage of this service before purchasing outside coverage. Please be aware that if you choose to apply for coverage outside of the GME disability program and that coverage is issued with limitations or even declined, you may be ineligible to participate in the GME disability conversion program. Outside coverage will decrease the amount of the guaranteed-issue policy for which you may be eligible.
Your GBS representatives are Lynn Johnson, ChFC, CLU at 805-750-8438, and Don Bloomfield at 303-889-2656.
GBS representatives are the only representatives authorized by the insurance carrier and GME to provide this conversion product.
Note: This represents highlights for information purposes only. The Master Contract contains all of the controlling provisions of this coverage.