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CPhA Insurance Programs
CPhA and Marsh provide quality insurance programs through "A-" or better related carriers with excellent customner service. Join the hundreds of CPhA members who benefit from the peace of mind that Marsh insurance programs provide by calling a representative today at 1-888-926-CPhA or emailing cpha.insurance@marsh.com.
Highlights of the Program
Business Owner's Package through Fireman’s Fund Insurance Company
• Provides members with the professional liability protection they need to grow their business. Fireman’s Fund® enhanced its policy for CPhA members by defining Pharmacy Services as "the art, practice, or profession of preparing, preserving, compounding, dispensing, administering, and consulting upon medicines, medical drugs, supplies, equipment or devises used in the treatment of medical disorders and maladies rendered by the insured in the capacity of a pharmacy or pharmacist." This clear definition allows you to practice your profession with a focus on your patients instead of your insurance policy.
• Members receive an extra 10% premium discount on the Business Owners Package for additional savings when they also are insured through the Workers’ Compensation program.
• Many insurers are dropping professional liability insurance protection from their business liability policies or restricting coverage for services like medication therapy management administration of immunizations or compounding medications for your patients.
DMEPOS Surety Bond
Marsh, CPhA’s insurance broker, can assist CPhA members in obtaining surety bonds required by Medicare for members who sell durable medical equipment, prosthetics, orthotics and supplies. All suppliers that furnish such items or services must comply with the quality standards in order to receive Medicare Part B payments and to retain a supplier billing number.
Workers’ Compensation Program
• Among the lowest Workers’ Compensation premiums available which lowers members day to day operating expenses
• Over $3 million in premiums returned to members over the past four years thanks to good program experience and management.. Lowers the cost of doing business for pharmacy owners.
• A 6.2% dividend was declared on the sponsored Workers’ Compensation Program in 2009. CPhA members have now received over $3,007,000 in returned surplus premiums over the past four years.
• Members receive additional premium discounts with Fireman’s Fund, an “A” rated carrier, through a Merit Rating Program for smaller pharmacies.
• Loss control visits with experts from Fireman’s Fund help improve pharmacy operations.
• Fireman’s Fund’s i Customer website provides members with on line access to policy and claim information, loss control and workplace safety advice, a unique member benefit.
Health Savings Accounts
• HSA’s combined with qualified High Deductible Health Plans continue to assist members in reducing their health insurance premiums.
• In 2010, members can contribute up to $3,050 with individual coverage and 6,150 with family coverage to an HSA.
• Members age 55-64 are able to add an additional contribution of $1,000.
• Contributions are federally tax deductible. Funds can be accessed for medical expenses at any time.
• Unused funds roll over each year
Medical Insurance
• Members used the services of Marsh to:
• obtain HR guidance on group benefits at no additional charge through Mercer Select
• restructure their health plans to generate savings
• offer multiple options for employees to help provide choice and reduce premium expenses
• established high deductible health plans for owners to reduce premium expense
Homeowners and Auto
• Discounts are available to all CPhA members on their individual homeowners, renters and automobile insurance polices.
• The sponsored program is underwritten by Liberty Mutual
Long Term Care Program
• Members receive a discount of 5% on premiums for Long Term Care policies underwritten by John Hancock and Prudential.
• Help protect your hard earned assets
Employment Practices Liability Program
• Choice of limits of $250,000, $500,000 or $1,000,000
• Protects members from employment related claims for wrongful termination, harassment and discrimination.
• Includes defense costs as well as losses insured is obligated to pay
• Provides defense only assistance with ADA claims
• On-line employee and Manager training
• 800 number for labor attorney advice included at no additional charge
• Includes third party liability
• Minimum premium of $750 annually ($1,000 in Los Angeles County)
Pharmacist Professional Liability Insurance–
• Provides important professional liability protection for members who need to protect their own interests when working as an employed pharmacist.
Student Professional Liability Insurance
• Student members of CPhA receive professional liability insurance as part of their membership. Contact CPhA for details
©Seabury and Smith Insurance Program Management CA Ins. License #0633005
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