Wednesday, January 20, 2021

New Tax-Advantaged Health Insurance Plan Offers Cost-effective Workforce Strategy

MIAMI, Jan. 13, 2021 /PRNewswire/ — The brand new ExecSelect plan from Sankaty Mild Advantages affords employers an inexpensive strategy to increase healthcare advantages for key staff who drive enterprise income and progress, whereas additionally offering employers with a cheap workforce technique.

“In right this moment’s pricey healthcare surroundings and extremely aggressive office, it is troublesome – if not cost-prohibitive – for a lot of companies to offer the extent of insurance coverage protection that prime expertise seeks,” stated Steven W. Jacobson, CEO of Sankaty Mild Advantages. “Our ExecSelect™ plan solves this dilemma.”

In response to Jacobson, the absolutely insured plan gives individuals with usually tax-exempt reimbursement for nearly all medical bills not coated by their firm’s base well being plan – and all premium prices are tax-deductible for employers.  He stated that ExecSelect™ not solely covers deductibles, co-pays, co-insurance and preventative care, but additionally quite a few different medical bills not often coated by most well being plans right this moment.

Jacobson cited these examples: dental and orthodontia providers; imaginative and prescient care, eyewear and Lasik surgical procedure; in-/out-patient remedy for psychiatric care and substance abuse; infertility analysis and remedy; listening to aids; chiropractic providers; bodily remedy; and private-duty nursing/in-home healthcare. “Usually, if an expense is medically mandatory and qualifies below IRS Code Part 213, it’s eligible for reimbursement below our plan,” he defined.

“As a result of ExecSelectis an excepted-benefits plan and never topic to ACA necessities, it may be supplied to pick, versus all, staff on the employer’s discretion,” Jacobson continued. “Moreover, our plan gives a most annual advantage of $100,000, which covers the plan participant and eligible dependents – with a per incidence restrict of $10,000. It additionally consists of, at no additional price, vital AD&D protection, 24/7 worldwide protection and emergency journey help, and healthcare concierge providers,” he stated. 

“Our plan is considerably completely different from HSAs, HRAs and different client well being accounts, that are restricted in funds and what these funds can be utilized for,” added Jacobson.  “And in contrast to the latter, our plan gives actual insurance coverage protection, advantages and worth.”

Launched in October 2020, ExecSelectis underwritten by U.S. Hearth Insurance coverage Co., an affiliate of Crum & Forster – a worldwide chief in insurance coverage services.  Sankaty Mild Advantages is a Miami-based, privately held healthcare and insurance coverage firm dedicated to offering innovate, cost-efficient options to right this moment’s healthcare surroundings.  For extra data:  go to www.sankatylight.com or name 844-726-5289.

Contact: 
Elena Bennett (404.510.6042)
[email protected]

SOURCE Sankaty Mild Advantages

Associated Hyperlinks

https://www.sankatylight.com

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