An unexpected injury or health crisis can test the foundation of your practice overnight. If you had to step away from your practice today, what state would it be in 30, 60, or 90 days from now?
For a practice owner, a sudden absence typically creates two financial crises at once: personal income stops, but practice overhead doesn't. While many physicians have personal long term disability insurance to protect their family budget, those benefits rarely stretch far enough to absorb the ongoing expense of office rent, staff payroll, and equipment leases. The TMA Member Business Overhead Expense (BOE) Insurance plan, issued by The Prudential Insurance Company of America, provides specialized support for ongoing office expenses, helping you avoid using personal savings to keep your doors open and your staff paid while you recover.
The Test
To understand why Business Overhead Expense (BOE) coverage is a critical component of practice management, consider how an unexpected 30, 60, or 90-day absence can unfold:
Adding a Critical Layer of Protection
TMA Member Business Overhead Expense (BOE) Insurance is designed specifically to help address these operational vulnerabilities. It does not replace personal long term disability coverage. A long term disability (LTD) plan is designed to help protect your household income. BOE helps cover major operating overhead, including payroll, taxes, rent, utilities, and the cost of hiring a locum tenens.
Used together, these strategies offer a comprehensive approach to risk management. They can help shield your personal savings from business expenses while helping to preserve your practice reputation and the team you’ve spent years building.
Preparing Your Practice for the Unexpected
Protecting your practice means ensuring your business, team, and professional legacy can withstand an extended interruption.
Contact a TMA Insurance Trust advisor today to learn how affordable BOE insurance can help safeguard your practice's future. Our experienced team is available Monday through Friday, from 8:00 AM to 5:00 PM CST, at 800-880-8181.
BOE Plan Details
- Higher Payout Options: Flexible coverage up to $50,000/month (12 months) or $35,000/month (24 months).
- Lower Premiums: Exclusive member rates designed to help keep coverage more affordable compared to competing carriers.
- Extended Benefit Periods: Coverage lasts up to 36 months, or until full benefits are paid.
- Retroactive Benefits: First payment made retroactively after 30 consecutive days of disability to help cover the waiting period.
- Waived Premiums: Premiums are waived while receiving benefits to help reduce financial strain.
- No Risk: You have 30 days to review your coverage, and if you decide not to keep the coverage, you will receive a full refund.
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