Orlando Harmon
The American Medical Association (AMA) provides a range of benefits for its members, including insurance plans tailored to physicians and their families. AMA Insurance offers exclusive rates for physicians, retired physicians, residents, and medical students. These plans include life, health, disability, dental, and income insurance options, as well as Medicare Supplement insurance plans. AMA membership also provides access to the JAMA Network™, discounts on various services, CME options, expert advice, and special offers on loans and supplies.
AM Insurance Medical Card
| Characteristics | Values |
|---|---|
| Provider | American Medical Association |
| Who is it for? | Physicians, retired physicians, residents & medical students |
| Benefits | Access to the JAMA Network™, discounts on various services and support tailored for students, physicians and residents |
| Perks | CME options, expert advice, and special offers on loans and supplies |
| Insurance plans | Life, health, dental and disability income insurance |
| Medicare Supplement insurance plans | Standardized plans are available |
| Life insurance plan | Up to $4 million in Level Term Life Insurance protection in 10-, 15- or 20-year terms |
| Disability Income Insurance | Residents can apply for up to $5,000 in monthly benefits; physicians can get up to $15,000 in monthly benefits |
| Student Insurance Program | Full-time medical students can get $100,000 of Group Term Life Insurance for $40 a year or $50,000 coverage for $20 a year |
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What You'll Learn
Life, health, disability and dental insurance plans
AMA Insurance offers exclusive rates for physicians, retired physicians, residents, and medical students on a range of insurance plans, including life, health, and disability.
Life insurance is designed to help your family in the event of your passing. Your beneficiaries will receive a sum of money to use as they see fit. Many people take out life insurance after a major life event, such as the birth of a child. It can also build cash value, which can be accessed through loans.
Health insurance is often provided by an employer, but self-employed individuals must obtain their own coverage. Short-term disability leave due to pregnancy, injury, or illness can be claimed by around 5% of working Americans annually, and long-term disability insurance can help maintain your lifestyle if a more serious or permanent disability occurs. Workplace plans generally reimburse around 40-60% of your pre-disability salary, but you can also obtain a supplemental disability insurance plan to cover the rest.
Dental insurance is another important consideration, as it can help you maintain your oral health. Delta Dental, for example, offers affordable dental insurance plans for individuals, families, and businesses. The cost of dental insurance will depend on your unique circumstances and the decisions made by you and your dental professionals.
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Discounted rates for physicians and medical students
The American Medical Association (AMA) offers discounted rates for physicians and medical students through its membership program. AMA members can access exclusive benefits such as leadership and training opportunities, test prep resources, networking and advocacy platforms, and discounts on medical supplies and equipment.
For medical students, AMA membership provides research opportunities and access to student loan specialists for repayment and forgiveness advice. Additionally, students can receive discounts on laptops and other technology, car rentals, and select medical plans and resources.
Physicians, including retired physicians and residents, can benefit from AMA-negotiated discounts on practice financing, shipping, payment processing, and medical supplies through the AMA Medline Buying Program. This program offers savings of up to 20% on medical, surgical, and pharmaceutical equipment and supplies, with additional benefits like next-day delivery and staff training.
Furthermore, AMA members can access preferred pricing and special offers on a range of products and services, including practice financing and payment processing. They can also take advantage of exclusive rates on life, health, and disability insurance plans through AMA Insurance, which caters specifically to physicians, residents, and medical students.
Outside of the AMA, physicians and medical students may also be eligible for discounts from companies expressing gratitude to healthcare workers. These discounts vary and may include savings on apparel, travel, and technology.
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Monthly disability benefits
AMA Insurance, a subsidiary of the American Medical Association, offers a range of insurance plans tailored to meet the unique needs of physicians and their families. One of the key features of AMA-sponsored Group Disability Income Insurance is the flexibility it provides to physicians at different career stages.
For medical students, AMA Insurance provides disability coverage with no medical exams or health questions required. Full-time medical students under the age of 40 attending an accredited medical school can enrol with their signature alone. This coverage can provide peace of mind during their studies, helping to cover expenses if they are unable to attend classes due to a disability. After graduation, students can transition to the "'Own-Specialty' Disability Insurance" plan, which offers increased protection during residency.
For young physicians, the "Own-Specialty" plan ensures income protection at an affordable rate. This plan allows them to collect full benefits if they are unable to work in their specific medical specialty. Additionally, the "True Own-Specialty" option enables physicians to collect benefits even if they choose to work in a different medical field.
As physicians progress in their careers, they can customise their coverage to match their evolving needs. Established physicians can opt for more comprehensive disability coverage options, ensuring their income is protected throughout their career. AMA Insurance also offers exclusive discounts and competitive rates from top-rated carriers.
AMA-sponsored Group Disability Income Insurance is portable, meaning it stays with the physician even if they change jobs. This provides added security, as employer-provided coverage may have limitations or end upon leaving a position. Overall, AMA Insurance's disability benefits aim to provide flexible, comprehensive, and affordable protection for physicians throughout their medical careers.
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Medicare supplement insurance plans
Medicare Supplement plans do not include prescription drug coverage, and most do not include dental, vision, or hearing coverage. You may need to consider adding these benefits with standalone plans. The more comprehensive the coverage, the higher the premium, and premium amounts can change yearly. Depending on the state where you live, you may be eligible for a discount on your monthly premium if you enrol online.
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Acceptance guaranteed for eligible students
The American Medical Association (AMA) offers a range of benefits to its members, including access to exclusive insurance plans. AMA Insurance is tailored to meet the unique needs of physicians, residents, and medical students at different stages of their careers.
AMA's Student Insurance Program is designed specifically for full-time medical students. This program guarantees acceptance for eligible students, providing them with valuable peace of mind. For a low annual fee, students can enrol in Group Term Life Insurance, which offers a coverage of $100,000 for $40 per year or $50,000 for $20 per year. This insurance plan ensures financial protection for students and their families in the event of unforeseen circumstances.
Additionally, for a small additional fee of $41 per year, students can further safeguard themselves with Group Disability Income Insurance. This plan recognises that students' primary focus is their education and provides a monthly benefit of $1,000 for up to 12 months if they are unable to attend classes due to a covered disabling accident, illness, or organ donation. This additional coverage ensures that students can maintain their financial stability and focus on their recovery without the added stress of tuition costs.
The AMA understands the importance of comprehensive insurance coverage for medical students, who are the future of healthcare. By offering guaranteed acceptance for eligible students, the AMA ensures that they can pursue their academic goals with the security and support they need. This initiative reflects the AMA's commitment to empowering students and fostering the next generation of medical professionals.
To learn more about eligibility requirements and the full range of benefits, students are encouraged to explore the AMA website and consider becoming a member to access these exclusive insurance options.
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Frequently asked questions
AMA Insurance is a subsidiary of the American Medical Association that provides insurance plans tailored to physicians and their families.
AMA Insurance is available to members of the American Medical Association. Membership is offered to students, physicians, and residents, as well as retired physicians.
AMA Insurance offers life, health, dental, and disability income insurance plans.
AMA Insurance provides exclusive rates and discounts for physicians and their families. It also offers protection for how doctors train, work, and live, with plans tailored to all stages of their careers.
You can join the American Medical Association by reviewing the eligibility requirements and membership costs on their website. Once you become a member, you can access the insurance plans offered by AMA Insurance.
