Liability insurance

[PharmacistRx11]

Hello all, do all pharmacists have to have liability insurance and if yes, what is the best plan?

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[WorthlessOxygen]

I've never met someone who's had to use theirs but for ~$100-150 per year I can't imagine why you'd skip it. HPSO and pharmacists mutual are the big ones that I hear of, I went with HPSO because they had a better new grad discount.

 

[Chrish]

If you are an employee at chain or hospital, don’t buy it even if’s $25 a year..

 

[M0df]

I've never met someone who's had to use theirs but for ~$100-150 per year I can't imagine why you'd skip it. HPSO and pharmacists mutual are the big ones that I hear of, I went with HPSO because they had a better new grad discount.

I had it for years but I am starting to think it is in the same category as 'buy insurance for your water line.'. Can someone actually confirm they used it? Or if these people responded to any questions other than how to pay your bill? Yes $150 a year isn't much but it is also 5-10k over the course of your career and might provide zero value. They do hook you up with 1-2 CE credits!

 

[PromisedNeverland]

If you are an employee at chain or hospital, don’t buy it even if’s $25 a year..

why? what's the reasoning behind it .. ?

 

[WorthlessOxygen]

Yes $150 a year isn't much but it is also 5-10k over the course of your career and might provide zero value.

I like to think of expenses in terms of how many extra shifts I have to pick up to afford something. This works out to be 1 shift every what, 2-4 years? Definitely worthwhile to me.

 

[Chrish]

why? what's the reasoning behind it .. ?

It’s worthless. They will never sue you as they know you as an individual employee aren’t worth anything.

They will go after “real money” ie hospital/ chain.

 

[M0df]

Until someone gives me an actual example of this insurance providing some service or value, I wouldn't be too excited. When I say value, it is something that your employer didn't cover already. Is this still $150 for independents?

I emailed them or submitted to them something once or twice. No response or even confirmation. It ended up not being a big deal but a reply would have been nice.

 

[JustFillIt]

The only reason why I have liability insurance is because it helps me feel just a tiny bit less anxious about the whole thing.

I read through the benefits once, it seemed like the real main benefit that it provides is to provide a lawyer if your sued. Not entirely sure though. I use pharmacist mutual

 

[PromisedNeverland]

It’s worthless. They will never sue you as they know you as an individual employee aren’t worth anything.

They will go after “real money” ie hospital/ chain.

would think they would help in terms of helping prevent license suspension in case of a mistake

 

[mentos]

Now you guys got me thinking. Have I been throwing away money the past 5 years?

I also have AAA which I've used once in 16 years. I don't think it's necessary but it gives my wife peace of mind.

 

[PharmacistRx11]

What if I’m hired in an independent pharmacy, does it worth getting it?

 

[ranger99rx]

What if I’m hired in an independent pharmacy, does it worth getting it?

I would definitely buy it if you are working for independent RX

 

[WorthlessOxygen]

What if I’m hired in an independent pharmacy, does it worth getting it?

I'd say it's more important in that case, if anything. While I don't entirely trust my employer provided malpractice insurance or our legal department to completely back me up in the case of an error, I would argue that it's better than nothing. Independents can be great but also don't provide that sort of legal support.

 

[lord999]

I had it for years but I am starting to think it is in the same category as 'buy insurance for your water line.'. Can someone actually confirm they used it? Or if these people responded to any questions other than how to pay your bill? Yes $150 a year isn't much but it is also 5-10k over the course of your career and might provide zero value. They do hook you up with 1-2 CE credits!

Yes, but not for practice, for fidelity as a supervisor. Pharmacists Mutual was a pleasure to deal with and it would have costed me something in the range of $20k for representation before OPM otherwise for just going through the process of the appeals. I even got the bonus of truly firing a pharmacist under Title 5 protections with REL code 0! that employee for causes (multiple fireable offenses including punching up fellow employees on camera, property destruction >$10k, and giving several death threats to people in front of patient witnesses, and was a piece of work), but it takes that much for one to stick if veteran status is involved.

 

[Sine Cura]

Why would Pharmacists Mutual coverage kick in for this case, if you were performing your job duties under the "aegis" of the govt

 

[lord999]

Why would Pharmacists Mutual coverage kick in for this case, if you were performing your job duties under the "aegis" of the govt

VA.gov | Veterans Affairs

Apply for and manage the VA benefits and services you’ve earned as a Veteran, Servicemember, or family member—like health care, disability, education, and more.

www.va.gov

Because the plan covers fidelity with the APLC rider. And the government pays half!

 

[JustFillIt]

Now you guys got me thinking. Have I been throwing away money the past 5 years?

I also have AAA which I've used once in 16 years. I don't think it's necessary but it gives my wife peace of mind.

I have triple A too. I have never used it. I hold triple A because I was raised to believe that all responsible adults have triple A... I’ve been lied to

 

[mentos]

I have triple A too. I have never used it. I hold triple A because I was raised to believe that all responsible adults have triple A... I’ve been lied to

The one time that you need it is when you don't have it.

 

[JustFillIt]

The one time that you need it is when you don't have it.

Yes - but these days there are so many back up options. I have roadside assistance through my warranty, through my car insurance, and through AAA. If I break down I have a fleet of tow truck drivers at my command.

I need to get rid of AAA.... This thread has opened my eyes.

 

[firework]

Someone explained to me once although I didn’t verify it myself, when there’s a malpractice case, it’s normally the employer who’s been sued, but after the case is settled, the employer can sue the pharmacist and that’s when you will need your individual liability insurance.

 

[mentos]

Yes - but these days there are so many back up options. I have roadside assistance through my warranty, through my car insurance, and through AAA. If I break down I have a fleet of tow truck drivers at my command.

I need to get rid of AAA.... This thread has opened my eyes.

My driver's license expires next year and I just remembered that I always renew it at AAA instead of the DMV. I'm always in and out in 15mins. So that's one benefit.

 

[WorthlessOxygen]

Don't a lot of places at least offer AAA discounts? I've heard that a few restaurants around me do. Also have friends that book vacations through AAA and claim thst their deals more than offset the membership fee.

 

[mentos]

Don't a lot of places at least offer AAA discounts? I've heard that a few restaurants around me do. Also have friends that book vacations through AAA and claim thst their deals more than offset the membership fee.

Yes but I never remember to ask if they have one. I think the AAA discount is about the same as the deals you get on Expedia or Orbitz. One time I booked on Orbitz and they still asked for my AAA card when I checked in.

I used to use the AAA discount at museums and stuff, but then I found out my local library has free passes that you can reserve.

 

[WorthlessOxygen]

Yes but I never remember to ask if they have one

Yeah same, I've never asked. Honestly I hate asking for discounts no matter what.

I'm definitely glad that I have AAA though, they've towed me twice and swapped a tire so far. All on state highways that would have carried a surcharge and one was also on a holiday with extra fees.

 

[mentos]

Yeah same, I've never asked. Honestly I hate asking for discounts no matter what.

I'm definitely glad that I have AAA though, they've towed me twice and swapped a tire so far. All on state highways that would have carried a surcharge and one was also on a holiday with extra fees.

I now remember I did use AAA for a tow when my alternator died.

Also when a battery died they came to my house to install a new battery instead of jumping the old one. It was about the same price as getting a new battery at Auto Zone, so that saved me a trip.

Also a tech had a flat tire at work so I called AAA and they changed it for her for free.