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. The updated July 1, 2014 certificate will be posted when available. Please contact GME Benefits Office with questions.
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
$10,000 per month benefit based on financial qualification.
- 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. Benefit proportional to income loss due to illness or injury.
- Benefits payable to age 67.
- Premium remains constant to age 67.
- Annual cost of living adjustments while disabled.
- Optional catastrophic benefit up to an additional $8,000 per month.
- 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.
be aware that if you choose to apply or have applied for coverage outside of
the GME disability program in the past 7 years and that coverage has been
postponed or declined by the carrier you will be ineligible to participate in the GME
disability conversion program.
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. Outside coverage will decrease the amount of the guaranteed-issue
policy for which you may be eligible.
Your GBS representatives are Lynn A. 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.