Physicians’ Reciprocal Insurers Renews Exclusive Agreement with MagnaCare

August 8, 2018 by matray

Physicians' Reciprocal Insurers ("PRI"), an admitted medical malpractice insurer in New York State, announced the renewal of a cooperative agreement, first established in 1998, with MagnaCare, a 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.

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