As the year draws to a close and you consider health insurance plans for 2024, we'd like to bring to your attention to some special options available through TMA Insurance Trust that may significantly enhance your coverage.
THE CLOCK IS TICKING
We know physicians have a lot on their plate. From the time you start work in the morning until the day is done you’re called on to make one decision after another. So right now the last thing you probably want to do is make a new decision about health insurance.
But time is running out for Open Enrollment – and this could be your last chance to find better health insurance for 2023.
There’s still time to get a plan that could help you control costs and provide more comprehensive benefits than the coverage you have now. In addition to offering top-rated group plans from leading national carriers, we can see if you’re eligible for certain options that may at this time be valuable to both practice owners and independent physicians.
At TMA Insurance Trust, we do not yet know the full scope of the rate increases for 2023 health insurance premiums, but we anticipate that they could be significant. While we can’t prevent that, we can tell you that you have an opportunity to lock in a lower 2022 rate for the next 12 months. If you currently have an individual HMO health insurance plan, there are special options available that could help you qualify for group health insurance and take advantage of this as well.
A physician’s eligibility for a group PPO plan has historically relied on how many employees they have in their practice. TMA Insurance Trust has researched how to make this preferred coverage available to independent physicians who practice in a partnership without W2 employees. Special options may help you obtain group PPO health insurance for just yourself and your family.
Rock climbers have confidence that their safety equipment will catch them if they fall; otherwise they would never take the risk of climbing. But they don’t secure their anchors, knots and carabiners once, then ignore them for the duration of their climb. To be safe, they check their safety equipment periodically; both as their position changes, and as time passes.
For physicians, long-term disability insurance, also known as income protection, is one of the most important investments that can be made. No one wants to think about an unexpected illness or injury, but it is wise to arm yourself with the facts. Young workers today face a three in ten chance of being disabled before they retire, and medical problems are the reason stated in over sixty percent of the bankruptcy cases. In fact, the most startling statistic regarding disability comes from The National Safety Council, which states 498 Americans become disabled every ten minutes.
There have been a lot of changes in the healthcare industry over the past few years, and it’s expected to continue evolving. One of these changes is a move away from group coverage to individual health plans. These are a few common reasons why physicians may need individual health insurance coverage:
Life insurance – a touchy subject, but one that everyone should talk about at some point. Unfortunately, there are many myths when it comes to life insurance, which is probably why so many people skip coverage. In fact, according to LIMRA, only 70% of American families own some type of life insurance. Plus, it doesn’t help that thinking about life insurance also means that we have to think about our own mortality. A very unpleasant thought.
