As a practice owner, when one of your patients needs specialized care or advice, you refer them to a physician who specializes in that particular field of medicine. That’s standard procedure.
But what about in your own life? What if you needed advice in an area in which you had limited knowledge? What if, for example, you wanted advice about health insurance? Would you reach out to a “specialist?”
Before You Choose a Plan – Speak With a Specialist
Today’s health insurance landscape is dynamic and complex. Do you have time to research all the information and regulations that could impact your health insurance choices? Probably not.
There are times when it’s a good idea to consult with those who specialize in this field.
Surprising PPO Options
At TMA insurance Trust we’re health insurance specialists – this is what we do. It’s our job to stay on top of health insurance regulations to see how any changes might impact Texas physicians.
As it turns out, we’ve come across special health insurance options regarding PPO health insurance for small practice owners. And you may be surprised by what we found.
Group PPO Health Insurance For You and Your Family
The options are available as a result of certain waivers to Affordable Care Act regulations. With these options:
- Solo practice owners and their families may be able to qualify for comprehensive PPO health insurance as a “Group of One.”
- Small practice owners may be able to offer group PPO health insurance to their employees and control the cost to their practice.
PPO vs HMO Plans
Many people prefer PPO plans because they provide greater flexibility and fewer restrictions than HMO plans. But as you may know, there are no individual PPO health insurance plans available in Texas. So if you’re a solo practitioner, this may be your chance to get a better health insurance plan for yourself and your family – at possibly a lower cost than an individual HMO.
Usually, you’ll need to have a tax ID number and one employee besides yourself paid under that number. You'll need to offer the coverage to them as well, but you'll still be eligible if they choose not to take it. Partnerships and LLC’s filing as a partnership with no employees may be eligible too. If you and your spouse have an LLC or establish an LLC, you may also be eligible for this coverage. You’ll just need partnership documentation and the company’s Schedule K-1 (Form 1065).
It’s important to note that the waivers are only available for a limited time – during Open Enrollment from November 1st through December 15th.
Better Health Coverage Can Attract Top Employees
The options may also help small practice owners by making it easier to offer group PPO health coverage to members of your staff.
In today’s tight job market, a comprehensive benefits package that includes PPO coverage can play a vital role in attracting top employee talent. Offering such a package may help your practice compete with other employers in terms of attracting and retaining the best employees.
Consult With Us at No Extra Cost
If you want more information about the options and how they may apply to your practice, please reach out to one of our specialists.
They do not receive any sales-based commissions – which means they’ll offer unbiased guidance with no pressure whatsoever. And their advice is always available at no cost to you or your practice.
Choose Your Best Options Before the Deadline
Once again, the special health insurance options are only available for a limited time. All enrollment documents must be completed and submitted by December 15, 2021. So before you renew your current plan or shop for a new one, call us at 1-800-880-8181, Monday through Friday, 7:30 – 5:30 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.