Memorial Fund

First, let me share this:  Matt Barton's Funeral/Memorial Fund.  Take a look at the fund and decide if you can chip in before you read this post.  I'll provide this link at the end as well, so for those of you unsure, you can reconsider.

​I'm in a number of groups where medical spouses help each other out.  This GoFund Me came across my virtual desk yesterday and I didn't think that much about it--or at least I didn't think I did.  I woke up this morning and realized that it had a bigger impact on me than I realized.

If you don't personally know a doctor in residency, you likely think that an MD immediately starts earning the big bucks when they get their long white coat.  That ain't so.  Granted, while we were ecstatic that Dr. D was actually getting a salary again, it was less than she made at her job before medical school.  

Matt Barton was set to graduate this June--he would be in the same group as Dr. D.  I looked up his program in St. Louis and here's what they pay residents.  This isn't a matter of complaining or of demanding higher resident salaries (that would be great to argue, but knowing where the funds for residency education come from that's a whole different argument)--instead, it should be a sobering moment not only for those who might say upon seeing his obit and the GoFundMe campaign that "he probably made more than you do, so why send any money?" 

More than likely, Barton left behind student loan debt. Mercer Medical School tuition for in-state students runs a little over $40K per year right now.  So, that's $160K just in fees to the school (translation--that's not counting living costs like food and rent).  And that debt likely has been accruing some interest during the PGY (that's post-grad years) that he was in residency.  

Moreso, though, I'm hoping that residents I know who don't have additional insurance will get to their financial advisors (they work for you for free until you're out and practicing) to get better coverage.  At the Christmas party in December, I was at a table where we were celebrating one of the senior resident's recent contract offer to start in July when I found out that she didn't have anything beyond the standard life insurance through the hospital, despite having a spouse and two small children.  They have since met with the same advisor we use, and I hope that he's convinced her to get more coverage.

While it's not the most exciting thing to think about, doctors need to take care of themselves and ensure the safety of their families.  And, let's take a moment to help where we can, too, when perhaps these plans weren't made.

​Here's that link again. :  Matt Barton's Funeral/Memorial Fund.  

And if you're a resident or resident spouse, think about contacting a group like North Star Medical Group.  I don't receive any promo kick backs for mentioning them, but I can vouch for their value. In looking at benefits packages offered by employers/hospitals, I can tell you that you probably want extra life and extra disability insurance that is job-specific.  If you're still in residency, you won't pay a fee to them (although you will pay your premiums to the insurance).