Doctors of BC vs OMA Disability Insurance

[Butterfly_]

I currently have OMA disability insurance (enrolled since 1st year med). I matched to a BC residency and just received a talk about the disability plan with Doctors of BC.

The plans sound very similar. Would you recommend keeping OMA or switching to the BC plan?

I'm over 30 and plan to live in BC permanently.

Thank you! 

[frenchpress]

1 hour ago, Butterfly_ said:

I currently have OMA disability insurance (enrolled since 1st year med). I matched to a BC residency and just received a talk about the disability plan with Doctors of BC.

The plans sound very similar. Would you recommend keeping OMA or switching to the BC plan?

I'm over 30 and plan to live in BC permanently.

Thank you! 

I recommend making an appointment with a Doctor’s of BC rep - Lisa Fincaryk was the rep for us as medical students - to get some numbers run on costs and coverage amounts. The short version is that if you plan to be in BC there are some things that you can apply for (specifically the physician disability insurance) that you can’t get elsewhere, and the insurance rep argument is always that the sooner you apply the more likely you will be to actually get the insurance payout - as the older you are when you apply, the more likely you are to have accumulated health conditions that could act as exclusions on a claim. I would guess with almost complete certainty that she would tell you to get the minimum $2000 for Doctor’s of BC. Many students/residents in BC seem to end up getting additional/alternative private insurance as well (such as through RBC), as we have a local insurance provider (Haslett) that works closely with UBC Med and tends to recommend it.

I have listened to many of these presentations over the years and talked with several reps directly, and I honestly personally can’t tell which option is better - insurance in general seems like a complete ripoff, despite the fact i realize that I really should and need to have it. But as someone planning to be in BC long term, for now I am planning to keep the minimum DofBC coverage while it’s cheap as a resident, to keep my options open when I transition to practice.

I can’t speak to the OMA coverage and whether that’s worth keeping instead of or in addition.

Edited May 6, 2021 by frenchpress

[Butterfly_]

50 minutes ago, frenchpress said:

I recommend making an appointment with a Doctor’s of BC rep - Lisa Fincaryk was the rep for us as medical students - to get some numbers run on costs and coverage amounts. The short version is that if you plan to be in BC there are some things that you can apply for (specifically the physician disability insurance) that you can’t get elsewhere, and the insurance rep argument is always that the sooner you apply the more likely you will be to actually get the insurance payout - as the older you are when you apply, the more likely you are to have accumulated health conditions that could act as exclusions on a claim. I would guess with almost complete certainty that she would tell you to get the minimum $2000 for Doctor’s of BC. Many students/residents in BC seem to end up getting additional/alternative private insurance as well (such as through RBC), as we have a local insurance provider (Haslett) that works closely with UBC Med and tends to recommend it.

I have listened to many of these presentations over the years and talked with several reps directly, and I honestly personally can’t tell which option is better - insurance in general seems like a complete ripoff, despite the fact i realize that I really should and need to have it. But as someone planning to be in BC long term, for now I am planning to keep the minimum DofBC coverage while it’s cheap as a resident, to keep my options open when I transition to practice.

I can’t speak to the OMA coverage and whether that’s worth keeping instead of or in addition.

Thanks so much for your advice. I've booked an upcoming appointment with Lisa. I haven't heard of Haslett, so I'll search them up too.

 Given all the perks, I'll likely be switching to DofBC!