Physicians’ Reciprocal Insurers Renews Exclusive Agreement with MagnaCare
ROSLYN, N.Y. – August 7, 2018 – Physicians’ Reciprocal Insurers (“PRI”), the second largest admitted medical malpractice insurer in New York State, today announced the renewal of a cooperative agreement, first established in 1998, with MagnaCare, a leading full-service health plan administrator based in New York. Under the agreement, full-time physicians associated with MagnaCare will receive a 7 percent discount off their malpractice premiums.
MagnaCare offers a range of services and access to a proprietary provider network of nearly 130,000 individually contracted physicians, hospitals, and healthcare providers.
“MagnaCare is known in New York State for being a trusted resource to patients and medical professionals alike,” said Bruce Shulan, CEO of PRIMMA, PRI’s wholly owned Attorney-in-Fact. “Their valuable partnership enables MagnaCare member physicians and medical facilities to offer more options to their patients. We have partnered with them for 20 years, and look forward to many more.”
In addition to the 7 percent discount, qualified medical professionals could be eligible for other discounts as well, including:
- 10-Year Claims Free Discount: 12 percent
- 5-Year Claims Free Discount: 7.5 percent
- Risk Management Discount: 5 percent
- No Consent Discount: 5 percent
- Annual Pre-Pay Discount: 2 percent
MagnaCare-associated physicians who meet all of the above qualifications could receive discounts up to 31 percent on their premiums.
About Physicians’ Reciprocal Insurers
Physicians’ Reciprocal Insurers (PRI), is the second largest admitted medical malpractice insurer in New York State and one of the Top Ten insurers in the country providing professional liability insurance to physicians and medical facilities. Founded in 1982 by doctors to serve the healthcare industry and its professionals, PRI continues to be a leader in providing coverage and innovative products that anticipate the needs and further the financial goals of policyholders, and offers key services to help improve the liability environment for doctors, chiropractors, dentists and healthcare facilities.
For more than 25 years, MagnaCare has provided innovative health care solutions to Taft-Hartley funds, TPAs, carriers, and workers’ compensation and no-fault payors in the New York, New Jersey, and Connecticut tri-state area. Its broad and wholly owned network, full plan management services, comprehensive in-house medical management, and leading outcomes-based casualty solutions offer the ultimate flexibility and customization that help customers control health care costs, improve health, and achieve exceptional value. MagnaCare is a division of Brighton Health Plan Solutions, LLC.