Waivers and options available during Open Enrollment can make it a beneficial time for physicians to get the group PPO health insurance coverage they prefer more affordably. However, it’s not the only opportunity during the year to access better health insurance while controlling costs.
As the cost of health insurance deductibles and copays continue to climb, families are absorbing more and more out-of-pocket costs. When a family member gets injured due to an accident, most medical health insurance plans only pay a portion of the bill, leaving you with the remaining balance. You can help protect your family and your finances with a TMA Member Accident Insurance plan.
TMA Member Accident Insurance is an excellent supplement to your family’s health insurance coverage to help pay for those out-of-pocket expenses related to unforeseen accidents.
Practically all physicians have health insurance. It’s regarded as essential to maintaining overall health. Having it in place allows you to access vital preventive care and seek treatment that can safeguard your life.
Dental insurance can be overlooked. Some physicians opt out of dental insurance, perhaps due to cost. In actuality, dental insurance can provide savings for those who visit the dentist regularly. Opting out of dental insurance creates a gap in your care that can have a significant impact on your health and wellness.
Women physicians need disability insurance to help protect their income. In fact, they may need it more than their male colleagues. Statistically, women are more prone to become disabled than their male counterparts, thus disability insurance rates are higher.¹ Research shows that over 22.3% of all disabilities for women are related to pregnancy.² Consequently, disability insurance premiums for an individual policy are typically 40-50% higher for women compared to the rates for men.³
It is often strongly recommended by experienced physicians that newly practicing physicians obtain a disability insurance policy as soon as possible. Establishing this coverage early in one's career is essential for safeguarding their income.
As years pass and your salary and income grow, your disability insurance coverage needs to keep pace or you could face risks to your financial stability. The policy you started your career with may not sufficiently protect your current income.
No physician likes to think that a serious illness or tragedy could happen to them at any moment. But if it does, a greater tragedy would be not being prepared. Your livelihood may be affected if you are too sick or injured to practice and your income stops.
“An ounce of prevention is worth a pound of cure.” Benjamin Franklin’s wise proverb is one you likely reiterate to your patients in some form. As a physician, you understand that taking preventive measures to protect against illness or disease is far better than spending time and resources addressing a medical issue after it has already occurred.
An individual's vitality and health are often determined by how well the inner workings of their body function. The same is true of your practice.
While you are the face of your practice, internally, two things need to be in place and function well to keep your practice healthy and optimal: the right health insurance for your needs, and effective cost management. TMA Insurance Trust understands the challenge for practice owners and independent physicians to access comprehensive group PPO health coverage while controlling costs. We want you to know about special options that may help you do both, whether you have employees or not.
