02/01/2025 Edition

HEADLINES

• Federal Aid Freeze is Frozen: On Tuesday, a federal judge "temporarily halted the Trump administration's freeze on federal financial assistance." It remains unclear exactly which programs would have been affected by the funding freeze, originally scheduled to take effect at 5 p.m. ET on January 28th. This caused widespread confusion and some panic, especially for the healthcare sector which receives the majority of federal grants.
• Higher Number of Women in Medical School: According to the Association of American Medical Colleges (AAMC), women accounted for the majority of medical school applicants, matriculants, and total enrollment for the sixth academic year in a row. Less biased institutions, greater social support, and an increase in women physician role models are cited as the primary factors driving more women to pursue medicine.
• More Physician Union Updates: The surge of union activity seen at the beginning of January continued throughout the month with even more physicians deciding to unionize or reaching agreements with their employers. Resident physicians at a medical center in Boston voted to join the Committee of Interns and Residents among other developments.

ARTICLES & EPISODES

Should Residencies Have to Offer Opt Out Retirement Plans for Trainees?

The Prudent Plastic Surgeon

In recent years, some large companies have moved from offering traditional opt-in retirement plans to opt-out plans. With saving for retirement now being the default for their employees, those companies saw huge increases in retirement plan participation. Since financial well-being is often difficult for residents to manage, opt-out retirement plans may be a way to promote saving early.

Student Loan Repayment and PSLF in the Trump Era

Andrew Paulson, CSLP

As the second Trump administration begins, many student loan borrows are wondering how the repayment landscape could change or what may happen to PSLF. Student loan professional, Andrew Paulson, explains which changes to student loan repayment options are more or less likely to happen under this administration and how physicians should react.

The Biggest Financial Mistakes Doctors Make w/ Tyler Olson

Money Meets Medicine

Financial planner, Tyler Olson, joins the show to explain the financial problems he commonly sees physicians struggle with. Tyler and host, Dr. Jimmy Turner, discuss different methods for tackling these issues, the benefits of accountability, and the importance of planning ahead. They also go over various tools and services available to help physicians make informed decisions.

THE RESOLVE BLOG

1099 Income and Forming an LLC

Chris Houlette

A physician can be paid in multiple different ways, two of which are as a W-2 employee or as a 1099 independent contractor. As a 1099 independent contractor, the physician is treated as both an employer and an employee and therefore has to pay both parts of payroll tax. If you are a physician receiving 1099 income, forming an LLC may be a way to save money when it comes to paying these taxes.

CONTRACTS

Pro Tip: Pay close attention to how you must repay signing bonuses. Many bonuses will be forgiven over the course of your employment in a pro-rated manner. Although, contracts can include language requiring you to pay back the remainder of your signing bonus in full if you leave before the repayment period is complete. In more extreme but uncommon cases, you could have even more obligations beyond the original bonus amount. Make sure to check these contract terms and negotiate appropriately to avoid any surprises in the future.

JOB SEARCH

Upcoming Career Fairs:

• On Tuesday, February 4th, PracticeMatch will host an Oncology Virtual Career Fair?from 4:00 PM to 6:00 PM CST.
• On Thursday, February 6th, PracticeMatch will host a Dermatology, ENT, and Ophthalmology Virtual Career Fair from 4:00 PM to 6:00 PM CST.

Featured Job Listings:

Gastroenterologist

Olympia, WA

Gastro Health is seeking a gastroenterologist to become their newest partner. The listed salary range for this position is $400,000 to $450,000 and H-1B Visa physicians will be supported.

Primary Care Physician

Quincy, IL

Quincy Medical Group is seeking an experienced primary care physician to join their team of 19 other physicians and 6 advance practice providers. The listed salary range for this position is $280,000 to $350,000 and either J-1 or H-1B Visa physicians will be supported.

Job listings provided by PracticeMatch