The Three Key Strategies For Your Practice: An Expert Discussion On How To Unleash The Power Of Your Group Disability-video1000033058

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Video Summary

Paul Cella, Managing Principal of KeyArcs, shares three strategies to enhance group disability insurance for medical practices. First, by partnering with healthcare-focused general agents, practices can reduce premiums by up to 30% while increasing long-term disability benefits by up to 75%, thanks to exclusive pricing and better policy structures. Second, doctors often hold cash value life insurance policies that may be outdated. Reassessing these can boost death benefits and tax-free income streams significantly, sometimes increasing retirement income by $60,000 annually. Third, a new payroll tax for long-term care is emerging in 22 states, expected to expand nationwide. This tax funds limited long-term care benefits but can be costly. Practices can explore alternative group plans with better benefits and capped costs to avoid this tax. Paul emphasizes proactive planning and organization with advisors to optimize benefits and costs. For further details, he invites AAOE members to contact him directly.

Keywords

group disability insurance

medical practices

healthcare general agents

cash value life insurance

long-term care payroll tax

retirement income enhancement