MGIS Expands Coverage of Specialized Disability Insurance for Advanced Practice Clinicians

MGIS Expands Specialized Disability Insurance for APCs

MGIS, a prominent national insurance program manager, is making significant strides in the insurance space by extending its disability insurance offerings to Advanced Practice Clinicians (APCs). The move recognizes the increasing importance of APCs, who are an essential part of the healthcare landscape, particularly in light of growing patient visits and the ongoing doctor shortage exacerbated by the pandemic.

Understanding Advanced Practice Clinicians

APCs, which include professionals such as nurse practitioners and physician assistants, are highly trained individuals capable of providing various medical services traditionally associated with physicians. As their responsibilities expand, particularly in states allowing direct patient care, so does their income. Recognizing this shift, MGIS has implemented a unique 'actual procedures' definition of disability, ensuring APCs can secure the necessary coverage to protect their specialized earnings.

The Rise of APCs in Healthcare

The demand for APCs has skyrocketed, accounting for approximately 25% of all healthcare visits in the United States. According to data from the U.S. Bureau of Labor Statistics, the number of nurse practitioners is expected to rise by an impressive 80% between 2019 and 2031, while physician assistants will see a nearly 50% increase during the same timeframe. This surge is significantly higher compared to the projected growth for physicians, estimated at just 5%.

MGIS's Commitment to APCs

Jeff Brunken, the President of MGIS, emphasized the necessity of extending these specialized disability insurance products to APCs: "As the demand for APCs grows, their income increases too. Our distinctive policies will help ensure that these professionals are adequately protected as their role evolves in the healthcare system."

Innovative Partnership with Reliance Matrix

In collaboration with Reliance Matrix, MGIS has enhanced its offerings for a broad range of healthcare practitioners. This partnership, initially established in 2023, blends innovative insurance solutions tailored specifically for healthcare professionals. The collaboration focuses on delivering not only disability insurance but a comprehensive solution that includes short-term disability, group life insurance, and Accidental Death & Dismemberment plans. Their flagship product, "Disability Guard for Doctors™," presents a long-term disability plan combining the benefits of individual policies with the ease of a group plan.

Addressing the Healthcare Provider Shortage

The importance of APCs cannot be overstated, especially amid the doctor shortage. According to Dave Shaw, Chief Underwriting Officer at Reliance Matrix, the inclusion of APCs into comprehensive insurance plans is imperative: "They provide critical services and have played a vital role in mitigating the physician shortage made evident during and after the pandemic."

Looking Ahead

As the healthcare landscape continues to evolve, MGIS is committed to addressing the challenges faced by APCs while ensuring they receive the protection they need. With a growing market of APCs, MGIS aims to meet their needs through tailored insurance solutions, thereby fostering a more stable financial future for these essential providers. For more details about their services and how to enroll, visit www.MGIS.com or consult your insurance advisor.

This expansion in coverage signifies MGIS's proactive approach in aligning its insurance products with the demands of modern healthcare, acknowledging the crucial role of APCs in serving communities across the United States.