Digital Benefit Advisors Launches Specialized Long-Term Disability Product for Virginia Physicians in Group Practices

Digital Benefit Advisors (DBA) (digitalbenefitadvisors.com), a national employee benefits-only alliance with 25 offices across the country, including three in Virginia, has launched a specialized long-term disability product designed specifically for physicians in group practices throughout Virginia. The plan provides coverage if a physician is not able to perform duties as a specialist, in addition to a malpractice insurance rider unique to the market. This policy is offered exclusively through Medical Society of VirginiaSM Insurance Agency (MSVIA) by Digital Benefit Advisors, the organization’s employee benefits provider.

“Though physicians may have disability insurance, many aren’t aware of the nuances of their policy and possess a false sense of security, assuming they’re adequately covered in the event something happens,” says Philip Saul, a DBA principal. “Depending on the fine print, if a specialist or sub-specialist is able to perform as a general practitioner or function in other practices of medicine, the plan may not pay benefits.”

Traditional long-term disability insurance offers advantages to policyholders whose income is restricted due to an accident or illness. However, many physicians discover -- often when it’s too late -- that the policy doesn’t provide the benefits they need, or thought they had. For example, depending on how “disability” is defined, if a surgeon injures his or her hands, he or she may not receive benefits if able to continue functioning as a general practitioner.

“It is critical that physicians know what to look for when selecting a disability product,” adds Saul. “Owning a disability policy doesn’t guarantee you’re appropriately covered if you become disabled.”

Saul encourages physicians to review their existing disability policy with four key questions in mind:

• Does the coverage provide specialty and sub-specialty protection?
• Does it account for the actual procedures a physician has been performing in the practice, so the earnings are not based on the average of what a typical physician may perform?
• Is the physician’s monthly disability income impacted by the partnership’s earnings?
• Does it offer a malpractice insurance reimbursement rider?

The disability policy available through MSVIA also offers a malpractice rider not available elsewhere in Virginia, paying additional benefits if a physician is disabled.

“We’re seeing significant interest in this product from our members,” says Dustin Beekman, Director of Life and Health for MSVIA. “It can be financially devastating to think you’re covered if something happens, and then find out that you’re not. We’re very pleased to partner with DBA in offering this valuable coverage to our membership.”

About Digital Benefit Advisors

Digital Benefit Advisors (digitalbenefitadvisors.com) is a national alliance of experienced, local market experts who offer advanced solutions and expanded services to help companies meet their strategic business objectives. Distinguished by its focus on innovation, advocacy and education, DBA creates greater value for employers and inspires individuals to become more engaged healthcare consumers. DBA is the leading division of Digital Insurance (digitalinsurance.com), the nation’s largest employee benefits-only agency and a subsidiary of Fidelity National Financial (NYSE: FNF). Digital Insurance has been named to the Inc. 5000 List of America’s fastest-growing companies every year since the honor’s inception in 2007. In addition to the increased coverage benefits, DBA’s specialized group long-term disability product offers a malpractice insurance reimbursement rider, the first time such a reimbursement benefit has been available.