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Protecting What Matters Most


Business Operating Expenses are up: That Means Your Risk is too

The cost of running a practice seems to rise each year. Depending on the type of medical practice, overhead expenses may be a significant percentage of your practice’s total revenue, estimated to be as much as 60 percent.*

If you were unable to work due to an illness or injury, you would be responsible for your share of the overhead expenses. You’d have to make sure the monthly rent or mortgage payments were paid on time, continue to pay your employees, and hire a physician who could take over for you while you recovered. Paying the salary of a Locum Tenens physician could pose a significant financial burden to your practice, since the average length of time it takes to recover from an illness or injury is approximately two years.*

Member-Only Business Overhead Expense Insurance Just Got Better

To help keep pace with the rising costs physicians in private practice face in today’s business environment, TMA Insurance Trust, working with The Prudential Insurance Company of America, has enhanced the TMA Member Business Overhead Expense policy.

More Coverage. The maximum monthly benefit has been increased from $35,000 up to $50,000.

Locum Tenens Physician. The policy now offers the option to cover the salary of a Locum Tenens physician who can care for patients while you recover.

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The TMA Member Business Overhead Expense plan is only available to members of the Texas Medical Association. The plan is designed to reimburse your actual overhead expenses — up to the benefit amount you select. Here are some of the expenses covered up to 24 months:

  • Rent and utilities
  • Staff salaries, benefits and payroll taxes
  • Office supplies and equipment
  • Depreciation of equipment
  • Maintenance services
  • Loan payments
  • Property taxes and more

More Exclusive Benefits for TMA Members

Longer Benefit Period. The TMA Member Business Overhead Expense plan provides 24 months of coverage, while many other plans only offer 12 months.

Retroactive Benefits. Unlike some plans that have long waiting periods before benefits are paid, the TMA-sponsored plan pays the first benefit retroactively after an insured physician has been disabled for 30 continuous days.

Waiver of Premium. During the time you are disabled, your coverage will be continued at no cost to you.

Partial-Disability Coverage. If you suffer even a partial disability, you can still receive benefits to help offset the negative impact on your practice’s income.

Portability. If you decide to move out of state, you can continue your coverage as an affiliate TMA member until you reach age 75.

Whether you are a solo practitioner or partner in a practice, you may want to review your monthly overhead expenses, including how much it would cost to hire a physician to replace you if you couldn’t work. A TMA Insurance Trust advisor can help tailor a plan to cover your actual monthly expenses in order to offset the risk to your practice. With a TMA Member Business Overhead Expense policy in place, you can help rest assured your doors will remain open and your patients will be cared for in the event you are unable to work due to an illness or injury.

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For over 60 years, TMA Insurance Trust advisors have been serving Texas physicians, their families and staff. TMA Insurance Trust prides itself on offering unbiased information and strategies to members, along with exclusive group rates on a range of the highest-rated plans in the industry.

Speak with a TMA Insurance Trust Advisor:

*MGMA Cost and Revenue Report, 2015 - Last reviewed July 8, 2017
TMA Member Business Overhead Expense Insurance coverage is issued by The Prudential Insurance Company of America, Newark, NJ. The Booklet-certificate contains all details, including any policy exclusions, limitations and restrictions, which may apply. CA COA # 1179, NAIC #68241. Contract Series 83500.

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