1. Joel Schofer, MD, MBA, CPE, FAAEM MCCareer.org

2. Disclaimer The views expressed in this podcast are mine and do not necessarily reflect the official policy or position of the Department of the Navy, Department of Defense, or the United States Government.

3. Topics We’ll Cover Should you moonlight? How do you get permission? Where should you do it? Personal financial planning for moonlighters Contracts

4. Should You Moonlight? It depends Do you envision yourself working clinically after you leave the Navy? Where? VA vs civilian practice Where are you stationed? What’s the patient mix like for your specialty? What is your motivation? Money Skill maintenance Travel Post-Navy employment

5. Permission to Moonlight Request permission from your command Not a right, a privilege that can be taken away! Poor Navy performance PFA failure Not up-to-date on readiness requirements Poor academic productivity Need to take leave outside of certain distances 2 hour drive Flying = leave no matter the travel time Max of 16 hours/week of moonlighting Must have 6 hours off between clinical periods Annual attestation

6. Where Should You Moonlight? Local Can work toward post-Navy employment and partnership Don’t need to take leave Locum tenens Travel – can chase big money All expenses (DEA, state licenses, hotel, food, travel) Provide malpractice Usually need to take leave

7. Financial Planning for Moonlighters Allows you to put more money in tax advantaged retirement accounts Non-moonlighter TSP - $18,000/year in 2015 IRA - $5,500/year in 2015 Moonlighter (form 1099/independent contractor – not W2/employee) SEP IRA or solo 401k – up to $53,000/year in 2015 Rare that you’ll hit these maximums because can’t earn enough SEP IRA easier to set up than solo 401k Solo 401k allows more money to be contributed at equivalent salary http://whitecoatinvestor.com/sep-ira-vs-solo-401k/ Incorporating offers no liability protection

8. Contract Pitfalls Due process or termination clauses Tail coverage Can’t bill TRICARE or VA eligible patients Often won’t be single coverage Hire an attorney to review any contract you are signing

9. Thanks for Listening Consider rating the podcast on iTunes Go to MCCareer.org website Facebook page Twitter feed Blog posts E-mail subscription link “Contact Me” tab on the website Remember that it’s your career, so get help planning it.