Open Source MD Partners
Medical Malpractice
Medical Protective Company
OSMD has partnered with MedPro, a Berkshire Hathaway company, to provide medical malpractice insurance at a remarkable discount of over 20% off the standard market rates. MedPro offers two primary options: Claims Made and Occurrence Based Policies.
With Claims Made policies, coverage ceases after the insurance plan is canceled, and there is no inclusion of “Tail” coverage for any future malpractice liabilities. While these policies may have a lower annual premium, most OSMD clients opt for occurrence-based policies.
Occurrence-based policies come with the advantage of “Tail” coverage, which means any future malpractice liabilities are covered even after the insurance plan is terminated. Despite a relatively higher annual premium, this option offers added security and peace of mind for our clients.
Health Insurance
Blue Cross Blue Shield
OSMD provides two comprehensive insurance policies through Blue Cross Blue Shield, catering to different needs. One of the policy options includes an HSA plan, offering flexibility and choice to our physicians.
Both single and family options are available, allowing our physicians to select the most suitable coverage for themselves and their families. In addition to our offered policies, our physicians have the option to explore coverage through their spouse’s employer or the free market.
We believe in empowering our physicians to make informed decisions about their healthcare coverage, and the attached details provide all the necessary information about these policies, including rates, to assist them in making the right choice for their individual needs.
MD financial partners
MD Financial Partners is a division of Open Source MD that offers a unique focus on aiding individuals in the medical sector. Designed to assist doctors, physicians, nurses, and other medical professionals, MD Financial Partners goes beyond just reducing tax liabilities, incorporating a range of services tailored to their specific needs.
One prominent offering is the deferred non-qualified compensation strategy, which presents a compelling alternative to conventional 401k plans or similar. Unlike traditional retirement plans, MD Financial Partners’ strategy doesn’t adhere to the standard IRS guidelines of a 401k or SEP, resulting in the exclusion of the restrictive 59 ½ rules.
Medical professionals can access their funds without age constraints, providing greater financial flexibility during their retirement years. Furthermore, this innovative strategy sidesteps market risks, alleviating concerns related to market fluctuations and providing a more secure financial future for medical practitioners.
The historical performance data of the MD Financial Partners’ strategy showcases average returns ranging between 6% to 7%, underlining the potential for steady and reliable growth. This history of consistent returns adds to the appeal of the strategy, instilling confidence in medical professionals seeking a dependable retirement plan.
MD Financial Partners emerged as a complementary venture to OSMD, addressing the distinctive financial needs of healthcare workers. Through its deferred non-qualified compensation strategy, MD Financial Partners offers a tax-efficient, low-risk, and cost-effective approach that empowers medical professionals to secure a financially stable retirement.
Other program features include:
Other Services Include
Defined Benefit Plans
Defined benefit plans offer employees a predetermined and fixed benefit amount upon retirement, which is highly appreciated by employees for the stability it provides. On the employer side, businesses can typically contribute and deduct larger sums each year compared to defined contribution plans.
Despite the advantages, defined benefit plans tend to be more intricate and, as a result, more expensive to establish and manage than other types of retirement plans. However, their appeal lies in the secure retirement benefits they offer, making them a sought-after option for employees seeking a reliable and steady income during their retirement years.
If you establish a defined benefit plan, you:
MD Financial Partners
Indexed Universal Life Insurance.
Tax Strategy and Tax Services: OSMD has partnered with Mendel Family CPA Services.
