Delve into the world of health savings accounts and flexible spending accounts, from handling contribution errors to managing reimbursements. Explore the intricacies of malpractice insurance, including the impacts of employment structures and crucial contract clauses. Learn how to calculate investment returns effectively with Excel. Discover strategies for healthcare financial planning, emphasizing long-term investments and the wisdom of stock ownership. This episode is packed with insights to help you navigate complex financial landscapes!
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Understanding the "Lizard Tail" Malpractice Risk
Some medical groups use small subsidiaries that can be bankrupted to limit malpractice liability, known as "lizard tail" strategy.
Physicians should understand their employer's structure to grasp their potential personal liability exposure.
volunteer_activism ADVICE
Check Malpractice Settlement Clauses
Review your malpractice insurance contract for veto and hammer clauses affecting settlement decisions.
Knowing who controls lawsuit settlements (you or the insurer) is crucial for legal and financial strategies.
volunteer_activism ADVICE
How to Calculate Portfolio Returns
Use the XIRR function in Excel or Google Sheets to calculate accurate dollar-weighted investment returns.
Enter every cash flow date and amount, but exclude reinvested dividends to get precise returns.
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Today we answer a handful of HSA and FSA questions including what to do when you contribute incorrectly and what to do when you have problems with reimbursement for medical spending. We answer a question about calculating equities. We also do a deep dive into malpractice insurance with information about lizard tails, veto clauses and hammer clauses.
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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!
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