In life, if you wait until you are ready to do something important, it could be too late.

What happens to your practice if you can’t work? Disability insurance can help keep your household on track financially if you become too sick or injured to work, but what about your practice? Having an emergency savings fund established is beneficial, but in today’s inflationary economy, many practice owners may find that it will no longer keep their practice running for as long as they anticipated. 

You’re a practice owner and you’ve invested an incredible amount of time and energy to get where you are. Nobody knows this better than you. 

Health is wealth. As we age, we grow to appreciate the truth of that like never before. Protecting our health has always been essential, but as we age maintaining good health becomes more important, and more expensive.

Fortunately, there are insurance solutions that make caring for our health more affordable. TMA Insurance Trust can help you find the insurance you need to protect your health and your wealth during retirement.

As inflation increases, it’s a common reaction to start looking at what expenses could be eliminated from your budget in order to save money. While nearly all physicians would consider health insurance a necessary expense, what about dental insurance? Many people opt out of dental coverage, some perhaps viewing it as peripheral insurance, specific only to one part of the body. Plus, if you’re brushing and flossing regularly, what harm could there be in skipping a couple checkups and just bypassing the dentist for a year…or two…or three…? 

Many, if not most physicians, have a life insurance policy. It could be an individual plan you purchased years ago. Or it might be coverage provided by your employer. Either way, it’s very common that “once we get it, we tend to forget it.”

But as time passes our family and financial obligations typically grow. And if we haven’t added more coverage as our career and our lives evolve, we may not be providing our family with enough financial protection should something happen to us.

The impact inflation is having on goods and services is being felt in all sectors of the economy, including health care. As a result, the cost of your group health insurance is likely to increase when it comes time to renew your plan. Many physicians and practice owners are concerned about how increased rates will affect the amount of coverage they have and what they can offer to their staff. This may be the right time to get a second opinion to see if there is a better way to structure your group health insurance benefits.

Picture the scene. A couple is joyously awaiting the birth of their first child. As the weeks pass, excitement begins to build as they set up the nursery and start making lists of baby names. But underneath the thrill of being first time parents, financial worries begin to creep in. Hospital bills loom large on the horizon. How much will the health insurance policy cover? How much will the out-of-pocket costs be?