Question 1

Can retention strategies work for both W-2 and 1099 professionals?

Accepted Answer

Potentially, but the available strategies and legal requirements differ. Each arrangement must be reviewed based on the professional’s status and the specific plan design.

Question 2

Is this the same as a bonus?

Accepted Answer

Not necessarily. A retention arrangement may connect additional financial benefits to future service milestones rather than only rewarding work already performed.

Question 3

Can a physician lose an unearned benefit if they leave?

Accepted Answer

Certain arrangements may allow unearned benefits to be forfeited, subject to the contract and applicable law.

Question 4

Does a medical group need to purchase life insurance?

Accepted Answer

No. Life insurance may be considered as one potential funding option, but it is not required.

Question 5

Do you offer ongoing administration?

Accepted Answer

We provide ongoing advisory and coordination support, with plan administration and reporting services available through appropriate providers depending on the arrangement.

Question 6

How much does the service cost?

Accepted Answer

A monthly administration fee applies. Pricing depends on the plan design, number of participants, complexity, and required services. We provide customized proposals.

Question 7

Can this work for a single physician?

Accepted Answer

Potentially. Eligibility and practicality depend on the proposed arrangement and the circumstances of the organization.

Question 8

Will a retention program guarantee that a physician stays?

Accepted Answer

No. The purpose is to create an additional financial incentive, not to guarantee retention.

Question 9

Do you replace our attorney or CPA?

Accepted Answer

No. We work with the appropriate legal and tax professionals when evaluating and implementing retention arrangements.

Frequently Asked Questions.

Understand Your Options.

Let’s Find the Right Retention Approach.