COVID-19 Premium Relief

For nearly 45 years MIEC has not wavered in its commitment to our policyholders. That continues through these difficult times. Our physicians and other healthcare providers are challenged by the continuing effects of the COVID-19 pandemic. We have observed wide-ranging impacts on their practices, varying by location, specialty, and type of practice. But virtually all of you have experienced reductions in number of patients seen and treated in recent months. Financial hardship follows that reduction.

To recognize the reduction in your practice and provide further relief MIEC is granting a one-time 5.8% credit against your annual premium, for active policyholders with in-force coverage as of May 1. This premium credit will NOT affect your 2020 dividend, which will remain at the previously declared dollar amount. Partnership and Corporation “entity” policies are not eligible for this credit and it will not apply to DataGuard premiums.

To arrive at the 5.8% credit against your annual premium, we assumed that average practice volume across our policyholders fell by 50% over a 90-day period.

We will not know for years whether this unique reduction in patient volume will have a material impact on MIEC’s ultimate claim experience. However, we do know today that our membership requires as much financial help as possible. If you feel that your practice suffered a decline in greater amounts than the assumptions we made, please fill out the form below, to provide additional information for underwriting review. This will be considered on a case by case basis.

For MIEC policyholders who have already paid their 2020 annual premium in full, you will be receiving a letter via US mail, outlining the amount of your COVID-19 credit. If your credit is $500 or greater, we will automatically issue you a check within the 2-3 weeks following the receipt of that letter. If your credit in less than $500, it will be automatically applied as a credit balance against future renewals.

For MIEC policyholders paying in installments, the credit will be applied against future invoices payable in the 2020 policy year and will be reflected on your next billing statement.

Press Release: MIEC Returning more than $2.4M in premium relief to policyholders  (Download PDF)


Premium Relief Appeal Request

If you feel that your practice suffered a decline in greater amounts than the assumptions we made, please complete this form.

All appeals will be reviewed by an underwriter and considered on a case by case basis.

Appeal deadline: 5:00 PM PST on Monday, August 31, 2020.  Any appeals received after the deadline will not be considered.

Appeal submisssions are now closed.