--- title: Protect Your Financial Independence with Business Overhead Expense Coverage description: Business Overhead Expense Coverage is not only beneficial to you but to your practice and patients. Learn how this coverage can help you today! image: https://www.tmait.org/hubfs/October_2016_SPD/Open_Sign.png --- - [800-880-8181](tel:800-880-8181) - [CONTACT US](https://www.tmait.org/contact) - [SELF-SERVICE PORTAL](https://tmait.aebsys.com/#/) [![](https://www.tmait.org/hs-fs/hubfs/TMA%20Insurance%20March%202019/Image/logo.png?width=197&name=logo.png)](https://www.tmait.org/) Topics All Accident Insurance Accidental Death and Dismemberment Auto & Home Insurance Auto Insurance Business of Medicine Business Overhead Expense Insurance Comparing Insurance Providers COVID-19 FAQs Critical Illness Insurance Dental Insurance Disability Insurance Employed Physicians Family Featured Financial Advice Group Benefits Group Coverage Health Insurance Homeowners Insurance HSA Independent Contractor Independent Physician Individual Coverage Insurance For Good Insurance for Women Insurance Review Key Person Insurance Life Events Life Insurance Locum Tenens Medevac Insurance Medical Insurance Medical Practice Medicare Medicare Part D Medicare Supplement Medigap Nearing Retirement Office Overhead Expense Insurance Open Enrollment Personal Umbrella Insurance Pet Insurance Practice Management Practice Managers Practice Owners Prescription Drug Coverage Renters Insurance Residents Retired Physicians Retirement Short Term Disability Short-Term Medical Insurance Supplemental Hospital Indemnity Insurance Term Life Insurance Travel Insurance Vision Insurance Women Physicians Young Physicans Young Physicians ![](https://www.tmait.org/hubfs/October_2016_SPD/Open_Sign.png) [Practice Management](https://www.tmait.org/blog/topic/practice-management) # Protect Your Financial Independence with Business Overhead Expense Coverage 1 October 2016 As Texans, we treasure our independence, and it shows. In Texas, 63% of physicians are independent, either in a solo or small practice of no more than three physicians. But as the saying goes, ‘responsibility is the price of freedom.’ The burden of financial responsibility can be a heavy one for physicians, especially independent or solo practitioners. ## Overhead: The Price of Independence As you are aware, medical practices divide the cost of overhead among its physicians. If you are ill or injured and are not able to see patients for several months, you are still responsible for taking care of your share of the business overhead expense. In a situation like this, you still want everyone who depends on you to be supported. This includes, not just your family, but your patients, partners and staff. That’s why it makes so much sense for a physician to carry business overhead expense coverage. Some physicians reason that their personal disability insurance will cover the expenses and they’ll get through somehow. However, it’s important to look at the financial bottom line. [The MGMA reports that about 60% of every dollar you generate for your practice will go immediately to pay overhead costs, leaving you with only 40% of generated revenue.](https://www.tmait.org/blog/how-business-overhead-insurance-can-save-your-practice) Therefore, if you use personal disability benefits to pay for business expenses, every penny of your policy benefits would be absorbed, and you would still come up 20% short. Where would this 20% come from? Your savings or investments? And most importantly, what would be left for your family to live on? [![We're here to help - CLICK HERE or call today](https://no-cache.hubspot.com/cta/default/400074/a1232ede-af45-4b8f-bee0-19ec9b73de37.png)](https://cta-redirect.hubspot.com/cta/redirect/400074/a1232ede-af45-4b8f-bee0-19ec9b73de37)***[800-880-8181](tel:800-880-8181) 7:30 – 5:30 CST Monday – Friday*** ## Your Future Protected Consider instead what will happen when you have a business overhead expense policy in place. Your patients will continue to receive regular care because your policy will provide funds to recruit and pay for a locum tenens physician. Your employees will continue to be paid, and your practice’s expenses will be covered. Your savings, investments, and personal income will be protected, so you can focus on the task of getting well and getting back to work. Business overhead expense acts like a disability insurance policy for your practice; it ensures that your business will be financially healthy when you are ready to resume working. In the unlikely event that your disability will be long-term, your business overhead expense benefits will allow you the time you need to find a suitable buyer for your share. ## Superior Coverage for a Protected Future As a full-service insurance agency, our goal is to find a policy that provides the best coverage at the most affordable rate for you. For example, TMA Insurance Trust has access to many business overhead expense policies. We can provide comprehensive coverage that offers superior protection. - Some policies limit their benefits to a 12-month period; we can secure a policy with benefits for a full 24 months. - Some plans cap their benefits to $20,000 monthly; we can secure a policy that extends up to $50,000 in monthly benefits. ## Your Partner in Financial Independence As a physician, you pride yourself on anticipating and caring for your patient’s needs; it’s what you do best. At TMA Insurance Trust, our job is to anticipate and care for your needs as a Texas physician; it’s what we do best. Not only do we provide our members with an excellent product, we make finding exactly the right amount of coverage for your situation effortless. Some say that being an independent physician is getting harder every day. At TMA Insurance Trust, we can make it just a little bit easier. Call us today. [![New Call-to-action](https://no-cache.hubspot.com/cta/default/400074/92a5c9eb-63b7-4df3-8acd-d5b2aba296f9.png)](https://cta-redirect.hubspot.com/cta/redirect/400074/92a5c9eb-63b7-4df3-8acd-d5b2aba296f9) 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. ** [ Practice Management ](https://www.tmait.org/blog/topic/practice-management) [, Independent Physician ](https://www.tmait.org/blog/topic/independent-physician) [, Practice Owners ](https://www.tmait.org/blog/topic/practice-owners) [, Business of Medicine ](https://www.tmait.org/blog/topic/business-of-medicine) ** [Business Overhead Expense Insurance](https://www.tmait.org/blog/topic/business-overhead-expense-insurance) [**Previous Entries](https://www.tmait.org/blog/is-your-auto-and-homeowners-insurance-keeping-up-with-your-risk) [Next Entries**](https://www.tmait.org/blog/8-reasons-why-your-disability-coverage-may-not-provide-enough-income-ltd) ## Recommended Posts ### [A New Alternative for Group Health Insurance](https://www.tmait.org/blog/a-new-alternative-for-group-health-insurance-group-benefits) ### [Why Going It Alone on Group Health Coverage Costs Your Practice](https://www.tmait.org/blog/why-going-it-alone-on-group-health-coverage-costs-your-practice-group-benefits) ### [Is Your Practice as Protected as Your Income?](https://www.tmait.org/blog/is-your-practice-as-protected-as-your-income-boe) ### [Don’t Renew Yet! 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