Primary Plan Changes: What to Do?
Changes to the primary health plan can cause frustrations for key talent. While it saves employers money now, it may lead to benefits disappointment and costly impact on retention.
But what if you had a way to mitigate those changes and provide a more targeted boost in benefits to keep top talent healthy, happy and loyal?
Here are 4 common examples of primary plan changes and your all-in-one fix.
Primary Plan Changes: What to Do?
Raising a primary plan deductible is a common way to offset the rising premium costs. But this technique can really drive up employee out-of-pocket costs, especially when prescriptions fall inside the deductible.
It’s possible to back-fill coverage voids for key talent by layering our executive medical reimbursement plan on top of the primary health insurance plan. It not only picks up those primary plan gaps but expands and enhances coverage to eliminate the frustrations and distractions that typically accompany one-size fits-all core health plans.
No Vision or Dental
With such importance placed on controlling benefit costs, it’s not uncommon to see vision and dental insurance removed from the list of benefit offerings at a company.
ArmadaCare’s executive medical reimbursement plans include vision and dental coverage even without an underlying primary vision or dental plan in place.
Added Bonus: There’s robust coverage for even high-end items, like designer prescription frames, LASIK and adult braces!
Change in Rx Formulary
Many major carriers are changing their formularies to no longer cover certain brand name prescriptions, like Lipitor and Nexium. Others are moving medications to higher coverage tiers, which means it will cost a lot more out-of-pocket since there’s not a lower coverage tier option available.
Avoid this frustration by layering ArmadaCare’s executive medical reimbursement plan on top of the primary health plan. It can be put in place at the start of any month, so there’s no need to wait until the primary health plan renews! This flexibility provides employers with a way to combat increased out-of-pocket Rx costs that result from formulary changes or when prescription benefits fall inside the primary plan deductible.
Lowered Out-of-Network Coverage
Out-of-network costs have been on the rise for years. Unfortunately, coverage for out-of-network providers has been simultaneously shrinking. In today’s benefits landscape, employers need coverage that has the flexibility to ebb and flow with different life stages and generational needs.
Since ArmadaCare’s executive medical reimbursement plans qualify as excepted benefits, they can be offered to select employee classes. So, employers can define eligibility based on title, tenure, performance or other classification.
Mitigate unwanted plan changes now without breaking the bank
Managing health benefit costs by reducing coverage is a way of life these days. While it saves employers money now, it may lead to benefits disappointment and costly impact on retention.
Download this Shock Absorber Guide and discover the 4 common examples of primary plan changes that can be mitigated by layering ArmadaCare’s executive medical reimbursement plan on top of the primary health plan for key talent.