THE CLOCK IS TICKING
Health Insurance Open Enrollment is almost over. If you have not yet finalized your health insurance decisions, it is imperative that you contact us now for assistance. TMA Insurance Trust wants to help you take advantage of important opportunities that are available to you during this limited time. If you contact us right away, we may still be able to help you have coverage for a January 1 effective date.
Limited-Time Options for Independent Practice Owners
In 2019 alone, we have been able to help over 600 owners of smaller practices with insurance for themselves and their staff. So we understand the distinct challenges that practice owners face. For example, if you own an independent practice, you may struggle with the cost of providing health insurance benefits to your employees. Or you may want to simply provide PPO health insurance for yourself and your family. Even though individual PPO health insurance plans are extremely rare in Texas, we may be able to help practice owners find options that work.
Usually, to qualify as a group, 75% of eligible uninsured employees must participate in a health insurance plan. Additionally, the medical practice must contribute toward 50% health insurance premiums. But during this special enrollment period, if you are establishing a new group health plan, or you are interested in changing your group to a new insurance carrier, you may be able to take advantage of special waivers and sidestep the requirement of 50% of premium contributions and 75% employee participation.
How to Make the Waivers Work for You
To benefit from these waivers, you must have a tax ID number and at least one employee besides yourself. Or, if you are an LLC filing as a partnership with no employees, you may also qualify by providing partnership documentation or your company’s Schedule K-1 (Form 1065).
What does this mean for your small practice, and yourself as practice owner? If you take advantage of the waivers, you could enroll just yourself or your whole family in a plan, but your practice will not have to contribute toward employee premiums. Even though you must offer health insurance to your employees to receive group PPO health insurance, you would not need to contribute toward their premiums. This still offers a benefit to your staff, since participants in a group PPO plan often receive better coverage at a lower cost than if they purchased individual HMO coverage.
Administrative Support Equals Savings
Our health insurance advisors are ready to support all practices, large or small, by taking on many of the administrative tasks that come with maintaining a group health insurance plan. Among other tasks, your TMA Insurance Trust advisor will help by enrolling your staff and dependents, cancelling employees if they leave your office, distributing temporary ID cards and policy information, assisting with billing, as well as advocating for you throughout the year if claims or customer service issues arise. These added services are provided at no extra cost to you or your practice. While we help you, you and your staff can spend more time caring for patients and running your thriving practice.
Time is Short: Act Now for Assistance
Please take note: to take advantage of two special waivers, you must act now, since all paperwork must be finalized before the end of the day on Friday 12/13. Though time is short, we can still make the process of shopping for health insurance as easy as possible. We have years of experience helping small practices get the best possible coverage at the best possible price, from the most highly rated health insurance carriers in Texas. Our advisors are licensed insurance agents who specialize in group health insurance for independent practices.
At TMA Insurance Trust, serving Texas physicians is our first priority. Unlike other insurance agents, our advisors do not receive sales-based commissions, so you’ll never feel any sales pressure or obligation of any kind. All the work we do is provided at no cost to you.
Contact us now to speak with one of our advisors. We can be reached at 1-800-880-8181, Monday-Friday, 7:30 AM - 5:30 PM CST.
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.