What a terrible feeling it is to be locked into an agreement when the terms do not suit your needs … and how much worse when those needs are related to your health. Over the past year, you may have found that your Medicare prescription drug coverage is not meeting your needs anymore. That is why it is so important to take action during the Medicare Annual Enrollment period.
Because of recent changes in law, short-term health insurance plans aren’t so “short” anymore; They can now be renewed for an extended period of time. Should you as a solo or small practice owner obtain this coverage for yourself? On the surface, short-term coverage may be an attractive option: it may appear to be flexible, affordable health insurance coverage. Your employees may be considering this as an option for themselves as well.
At TMA Insurance Trust, we want you to understand the details of short-term health insurance so that if you do decide to purchase a plan, you will be aware of what you are buying.
Many consumers may not be aware that rates on some auto and homeowners policies increase over time. Over a period of years, this could amount to hundreds of dollars a year, along with missed opportunities for receiving valuable discounts.
Have you ever wished you had a personal connection to a trusted advisor in a particular field? Someone you could easily talk to, say, about your computer, your car, your finances, or maybe even your tennis swing? What if you could pick their brain absolutely free of charge?
As a physician, you care about safety, and you are happy to take precautions to protect both yourself and the ones you love. Seatbelts, bicycle helmets, and life jackets are always worn at the appropriate time. You would not dream of leaving those you love vulnerable when it’s so convenient to protect them.
Life insurance can be the same; it offers straightforward protection that is convenient and surprisingly affordable. When you consider all that life insurance can do for your family (and even your medical practice), you’ll likely agree that securing it is the only sensible choice.
For many people, purchasing life insurance is a once-in-a-lifetime event. They consider their debt, income, and savings; then they determine how much coverage they need. This tends to be a final decision, since they anticipate that their income and lifestyle will stay fundamentally the same throughout their life. Physicians are very different - their lives and careers tend to be dynamic and may change more. Periodic reviews of your life insurance coverage are important and recommended.
If you are a partner in your own small practice, you undoubtedly stay busy; but you probably wouldn’t have it any other way. The independence that comes from owning your own practice is a great reward for all the hard work. But you face specific challenges as well. One such challenge is the risk of financial loss if a practice partner passes away.
Most medical residents receive life insurance as a benefit from their employers. Whether you have already taken advantage of this coverage or not, there are strong financial advantages in obtaining supplemental life insurance outside the workplace.
