EPLI insurance safeguard telehealth providers' future effortlessly
Cost Considerations and Coverage Options
The cost of EPLI insurance varies depending on several factors, including the size of your practice, the number of employees, and your claims history. Generally, premiums for small to medium-sized telehealth practices can range from $800 to $3,000 annually, with larger practices potentially facing higher costs1.
When browsing options for EPLI insurance, it's important to consider the scope of coverage. Policies can differ significantly, with some offering broader protection against a wider range of claims. Additionally, deductibles, policy limits, and exclusions should be carefully reviewed to ensure that the coverage aligns with your practice's specific needs.
Real-World Examples and Statistics
According to the Equal Employment Opportunity Commission (EEOC), over 67,000 workplace discrimination charges were filed in 2020 alone2. This statistic underscores the importance of having adequate EPLI coverage, as employment-related claims can arise unexpectedly and have significant financial implications.
In one notable case, a healthcare provider faced a lawsuit for wrongful termination and discrimination, resulting in a settlement exceeding $500,0003. Having EPLI insurance in place allowed the provider to manage the financial burden without jeopardizing their operations.