Health Insurance - Physician Contract Glossary

Health Insurance

Definition

Employer-provided or sponsored coverage for medical services, often including options to add dependents.

Examples in Context

"Employer shall provide comprehensive health insurance covering Physician, with the option to add eligible dependents at the Physician's expense."

"Employer agrees to cover 100% of Physician’s health insurance premium and 50% of family coverage costs."

Implications for Physicians

• Reduces out-of-pocket expenses for healthcare services.
• Coverage delays may impact initial medical costs if subject to a waiting period.

Negotiation Tips

• Request details on plan options (e.g., HMO, PPO, EPO) to ensure your preferred providers are covered.
• Ask if immediate coverage is available or if a probationary waiting period applies.

Red Flags and Pitfalls

• Plans with high deductibles or limited provider networks may reduce real-world value.
• Employers may exclude spouse or dependent coverage as a cost-saving measure.

Related Terms

• Summary Plan Description
• Cafeteria (Section 125) Plan

FAQs

• “Is employer-provided health insurance taxable?”
  • No, the portion your employer pays is typically tax-free. However, employee contributions are often pre-tax as well, reducing your taxable income.
• “Can I waive employer-provided health insurance?”
  • Yes, but you may forfeit any employer contribution to coverage.
• “What if I leave the employer?”
  • You may be eligible for COBRA coverage, allowing you to continue the same plan temporarily at your own cost.

Legal Disclaimer

The information provided in this glossary is for educational and informational purposes only and should not be construed as legal advice. While we strive to provide accurate and up-to-date information, this content is intended to help physicians better understand common contract terms and does not replace professional legal guidance.

For personalized advice regarding your employment contract or other legal concerns, we strongly recommend consulting with a qualified attorney who specializes in physician employment contracts.

You can find experienced legal professionals through our Physician Contract Lawyer Directory.