Four new policy proposals posted for member comment

Wisconsin Medical Society (WisMed) member policy proposals are now posted on PolicyLink and are open for members to register support, opposition and/or comments. The comment period for this round of policy proposals will be open through Friday, July 28, 2023.

The four new proposal topics are:

• Advancing Weight-Inclusive Healthcare and Health Education
• Opposing Abortion Care Restrictions in Wisconsin
• Prohibiting Adolescent Access to Indoor Tanning
• Improving Access to Menstruation and Feminine Hygiene Products

To participate in WisMed policymaking:

1. Visit policylink.wismed.org
2. Login with your WisMed username and password*
3. Click “Comment on Proposal” from the menu at the top of the page
4. Select “Comment Period 1”
5. Click on a blue proposal title
6. When ready, click on support, oppose or suggest amendments and submit any comments in the text box below
7. Click “Submit Comment” button at the bottom of the page

After the close of this comment period, proposed policies will move to the Policy Review Committee (PRC) which will review each proposal and member comments to help inform their recommendation to the WisMed Board of Directors (BOD). The BOD will decide whether to adopt, not adopt or make changes to the proposal.

Have a policy that you want to submit for consideration?
While in PolicyLink click on “Submit Proposal” (in the menu bar at the top of the page) and enter your proposed policy. Policies are reviewed throughout the year.

For questions about PolicyLink or WisMed’s policymaking process, contact Mark Grapentine.

*PolicyLink requires your WisMed username and password. Click here to retrieve your username or password, or call 866.442.3800 or email [email protected] for assistance.

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Host fun activities in your community through the Science Festival

The Wisconsin Science Festival is a statewide celebration of science and the Wisconsin Medical Society Foundation (Foundation) is proud to once again be a part of the Wisconsin Science Festival along with University of Wisconsin (UW) School of Medicine and Public Health’s Docs Ought to Care (DOC) program. When County Medical Societies and health systems host events for the Science Festival, you are helping to encourage kids across Wisconsin to see themselves as the future of medicine and health care in Wisconsin. It’s also a great opportunity to build collegiality, awareness and community with your fellow physicians.

The Wisconsin Science Festival is a project of the UW-Madison, Wisconsin Alumni Research Foundation and Morgridge Institute for Research. Festival activities may be held in any community across the state. More than 48 cities and 39,000 people participated last year, so there may already be other activities in your area. This year’s festival is scheduled for October 16-22 and activities may be held on just one or all four of those days.

The Foundation and DOC booth has become a crowd favorite staffed by medical student and physician volunteers where visitors are given the opportunity to see and touch human organs such as the heart, lungs, stomach, intestines and more. Volunteers enjoy the chance to inspire youth and are always eager to volunteer again.

Since 2017, the Western Wisconsin Medical Society has organized and sponsored several fun and successful science and health-related activities in the Eau Claire area including “The Science of Gross-ology” for kids and “The Science of BBQ” held at a local brewery for adults. La Crosse County Medical Society has also hosted a “Science of Medicine” expo at a local elementary school aimed at introducing students to the field of medicine.

Now is the time to start planning your activities and apply to have them advertised as part of the Festival. If your county medical society or health system would like to sign up, visit https://www.wisconsinsciencefest.org/events/community/add. If you would like more information about organizing local activities as part of the Science Festival, contact Foundation Program Coordinator Jaime Craig at [email protected].

Follow the Wisconsin Medical Society on Facebook for photos from these events and other Foundation activities. If you would like to support the Foundation’s work to encourage Wisconsin children to consider careers in health and medicine, please consider supporting the Foundation’s Brighter Future campaign.

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Student loan SAVE repayment plan

The Saving on a Valuable Education (SAVE) Plan becomes effective over 2023-2024. This is one of several income driven repayment plans and it replaces the Revised Pay as You Earn (REPAYE) plan. Borrowers will need to consider some actions before December 31, 2023 and July 1, 2024 as this plan is rolled out.

SAVE Plan

For most borrowers, the SAVE plan will result in the lowest monthly payment because the amount is based on 5% of discretionary income for undergraduate loans and 10% of discretionary income for graduate loans. Moreover, discretionary income is redefined as a smaller amount of total income.

The other popular income driven repayment plan is the Pay as You Earn (PAYE) plan. Let’s compare key components of PAYE, the prior REPAYE plan and the new SAVE plan.

*PSLF = Public Student Loan Forgiveness

Other key changes with student loans:

• As of July 1, 2023, interest no longer capitalizes (gets added to principal) when leaving a payment plan, except for the income-based repayment (IBR) plan.
• Recertifying income and family size can be automated in the future by granting permission for the Department of Education to obtain your tax return from the IRS.
• Borrowers enrolled in PAYE prior to July 1, 2024, can maintain access to the plan.

Items to consider by December 31, 2023

• Consolidate loans with different amounts in repayment. If payment history overlaps, the loan with the longest history will be applied to the consolidation loan. This could result in “free” payment credits on loans with short payment history.
• Retroactive credits can be applied in 2024 for old Federal Family Education Loans (FFEL) and other non-qualifying federal loans which are consolidated by the end of 2023.
• Normally, consolidating restarts the payment clock for loan forgiveness. However, an exception applies through the end of 2023 and the payment clock will not reset due to consolidation.

Items to consider by July 1, 2024

• Determine if PAYE, with the capped payment and 20 vs. 25 year repayment schedule for grad loans, is more beneficial than other payment plans.

Resources

Be sure to work with your loan servicer and consult these publications for details of the payment plans.

• SAVE plan 
• Retroactive credits and consolidation 

For personalized help eliminating debt, investing smart and securing retirement, please contact Mark Ziety, CFP®, AIF® 608.442.3750.

Mark Ziety, CFP®, AIF®
WisMed Financial, Inc. part of the Wisconsin Medical Society.  

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On-demand webinars for med students and young physicians

Early career physicians, residents and students can access a series of six webinars with topics such as diversity and health equity, choosing a specialty, and managing student debt. The “I’m a Doctor…Now What?” series was developed by the National Medical Health Collaborative, a non-profit organization established by the Wisconsin Medical Society, the Arizona Medical Association and the Missouri State Medical Association. The Collaborative has a mission to promote and advance the health care field by providing education, policy development and resources aimed at improving the delivery of patient care. 

The six-part series featured the following topics:

• Managing Student Debt
• Employment Contracts
• Choosing a Specialty & Interview Tips
• Exploring Different Practice Settings
• Investing & Retirement
• Diversity & Health Equity

Each state contributed experts for the series. WisMed President Wendy Molaska, MD, FAAFP, served on the panel for Exploring Different Practice Settings and Mark Ziety, WisMed Financial, presented Managing Student Debt.

The recordings for the full series can be accessed here.

Partnering with the excellent leadership and staff at Arizona Medical Association and Missouri State Medical Association was most rewarding. WisMed was honored to collaborate in this endeavor to assist our early career and future physicians.

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