The Plight of the Over-65 Physician in the Age of COVID-19

37960411 - closeup portrait clueless senior health care professional doctor with stethoscope, has no answer, doesn't know right diagnosis standing in hospital hallway isolated clinic office windows background.
Share on facebook
Share on twitter
Share on linkedin

Recently, a colleague of mine shared the story of a physician he has worked with for a few years, to help him prepare for retirement.

The physician is now 65 and the head of a hospital department. A few weeks ago, he was furloughed. This past week he was informed that the hospital was terminating him. Turns out the hospital has decided that they will no longer allow physicians over the age of 65 to see patients because of the potential liability issues.

My colleague and I discussed possible next steps for this physician. While the colleague was able to help this doctor move closer to the potentially maintaining his current lifestyle during retirement, he’s still a few years away.

I have heard a few stories of hospitals who are deciding to revoke the admitting privileges of physicians over 65.

Will hospitals place age and health restrictions on physicians? If they do, is this a violation of a physician’s civil liberties? Would it be considered restraint of trade? I will gladly defer to the legal experts on these questions. However, cases like these take a while to wind their ways through the courts.

In the meanwhile, mature physicians like the one in this story are left with the question, “How do I maintain my lifestyle in the weeks, months, and years to come?”

This material is intended to be educational in nature, and not as a recommendation of any particular strategy, approach, product or concept for any particular advisor or client. These materials are not intended as any form of substitute for individualized investment advice.  The discussion is general in nature, and therefore not intended to recommend or endorse any asset class, security, or technical aspect of any security for the purpose of allowing a reader to use the approach on their own. Before participating in any investment program or making any investment, clients as well as all other readers are encouraged to consult with their own professional advisers, including investment advisers and tax advisors.  Faithful Steward Wealth Advisors can assist in determining a suitable investment approach for a given individual, which may or may not closely resemble the strategies outlined herein.

Faithful Steward Wealth Advisors is a d/b/a of Camelot Advisors, LLC.

© 2020 Faithful Steward Wealth Advisors

Did you find this valuable? Share it on social media!

Share on facebook
Share on twitter
Share on linkedin