Chicago, Illinois—October 13, 2021—AMA Insurance Agency, Inc., a subsidiary of the American Medical Association, today introduced a new supplemental health insurance program designed to help physician groups create tailored and tax-efficient benefit packages that stand out from the competition.
Through the AMA Insurance Supplemental Health Insurance Program, physician practices have exclusive access to specialized benefit programs developed by ArmadaCare, a leading insurance program manager and underwritten by Sirius America Insurance Company, which has a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. This program includes ArmadaCare’s unique supplemental health insurance plans that boost coverage for routine, elective and unexpected healthcare expenses, including mental health.
“We’re excited to introduce this new supplemental health insurance program to physicians,” said Pam Moy, president, AMA Insurance. “Physician practices aren’t competing for talent on wages alone. Creating a robust benefit structure can drive a culture of loyalty, which in turn can help reduce turnover rates and foster more productivity.”
The add-on health insurance offered as part of the AMA Insurance program is compatible with all types of primary health insurance plans and with HSAs. The employer defines eligibility so they can create tailored solutions to help recruit and retain key talent within their organization. The program also includes exclusive access to ArmadaCare’s WellPak insurance product, which is designed specifically to help health care organizations support the mental health and behavioral health needs of their employees.
“ArmadaCare is excited to collaborate with AMA Insurance to provide such innovative benefits to physician practices,” said Ed Walker, CEO of ArmadaCare. “Unique in the market, these supplemental insurance plans provide a tax-efficient way to reward select employees. Plus, with all the offerings, there’s confidential resources for everyday stressors, crisis care and everything in between, with easy, on-demand access and navigation.”
The supplemental health insurance policies, including the WellPak insurance policy, are underwritten by Sirius America Insurance Company and not available in all states. For availability, costs and complete details of coverage, please contact ArmadaCare.
About AMA Insurance
Established in 1988 as a wholly owned subsidiary of the American Medical Association, AMA Insurance Agency, Inc. specializes in meeting the insurance and financial services needs of America’s physicians, both AMA members and non-members. Authorized to conduct business in all 50 states, AMA Insurance offers a portfolio of physician-exclusive disability, life, and health insurance for individuals, medical group practices and other institutions. AMA Insurance’s national reach enables the agency to offer unique physician-focused coverage at competitive rates from top carriers. For more information, visit www.amainsure.com.
A leading insurance program manager and a SiriusPoint company, ArmadaCare delivers uncommon insurance solutions designed to enhance ordinary health benefits. With the steadfast belief that insurance should be better, ArmadaCare’s plans fill voids in coverage for routine and unexpected healthcare expenses, offer valuable health and productivity support services and invite usage with modern conveniences, education touchpoints and people-first service. The result gives our clients the edge they need to retain, recruit and reward talent at all levels. To learn more, visit www.ArmadaCare.com/amainsure.