Webinar Provides Financial Tips for Physicians

Posted on Mon, Oct 19, 2015
Webinar Provides Financial Tips for Physicians

By Jamie Morgan

Our National Residency Program Team hosts a variety of educational and networking programs for residents.

Last month, partners with Financial Designs, Inc., presented the webinar “Financial Strategies for the Emergency Physician” for 2016 emergency medicine residents who had previously attended an EmCare residency event.

During the hour-long program on Sept. 25, the team discussed topics such as:

  • Independent Contractor vs. Employee Status
  • Reducing Taxable Income
  • Retirement Plan Considerations
  • Student Loan Management
  • Health, Disability and Life Insurance
  • Asset Protection

Six Quick Financial Tips for Physicians
  1. Take full advantage of tax savings opportunities (deductible expenses, retirement contributions, insurance premiums, HSAs)
    • Establish a home office if you are an independent contractor (IC)
    • Evaluate if there is need to set up an entity if you are an IC.
  2. Consider a higher-deductible health insurance policy
    • Establish a Health Savings Account
  3. Maximize pre-tax retirement plan deductions
    • Periodically review your retirement goals
  4. Consolidate student loans and reduce interest rates
  5. Secure Specialty Specific Disability Income Insurance
    • Utilize premium discounts
  6. Periodically complete a life insurance needs analysis

A number of valuable resources are available to EmCare providers. One of those resources is financial, retirement, legal and tax planning assistance. EmCare’s recruiters refer physicians and residents to Financial Designs if they need help evaluating a contract or want financial planning assistance.

For more information about events for residents and job opportunities, visit our website.  To listen to the recorded webinar, click here.

Jamie Morgan is one of EmCare’s National Residency Program coordinators.

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