Hunt Valley, Maryland—January 8, 2018— ArmadaCare has launched a new suite of supplemental insurance products, further strengthening its market-leading position in the group targeted supplemental health benefits market. This innovative suite of supplemental benefits enables companies to strike the right balance between two competing human resource objectives: controlling benefit costs and recruiting/retaining talent.
“We are thrilled to launch the ArmadaCare Supplemental Product Suite,” says Ed Walker, ArmadaCare’s CEO. “These products go beyond HRAs or HSAs with greater power and flexibility to help companies create a benefits structure that works with both their cost and talent management objectives. There’s really nothing else like it on the market.”
“Our premier Ultimate Health product, underwritten by Transamerica, has been in great demand to protect strategic leadership constituents,” says Walker. “Now with the addition of several new plan offerings with Sirius America, we can offer businesses a broad range of coverage and pricing options to create benefit structures for various employee sub-groups. Being able to provide targeted coverage for just those difficult to recruit and retain employee groups will change the way companies do benefits.”
Each product is a fully insured reimbursement plan that supplements a company’s primary plan and provides additional coverage for everyday health expenses, as well as the more unexpected health expenses, without specific disease or other restrictions for coverage to kick in. ArmadaCare’s products also qualify as excepted benefits, which means ACA reforms do not apply. This is instrumental in the products’ ability to be offered to select employee classes as defined by the employer. Finally, all products include additional health support services and features, such as a specialty physician matching program and a Prescription Visa® Card, all of which are backed by ArmadaCare’s commitment to world-class service standards.
“Our supplemental products go beyond what your typical indemnity-based voluntary plan can do when it comes to filling coverage gaps in a meaningful way,” notes Charlotta Winslow-Jenkins, ArmadaCare’s CMO. “Companies and their benefit consultants need to know that employer-paid supplemental benefits can be a valuable and powerful part of the upfront benefits strategy, not an afterthought. By applying our solutions in a strategic, targeted way, you can avoid driving up turnover costs when you make moves to save on benefit plan costs.”
The ArmadaCare Supplemental Product Suite is now available in 38 states, plus the District of Columbia with additional state approvals pending.
A pioneer in the supplemental insurance industry, ArmadaCare creates and delivers specialty employee benefits, backed by premier insurance carrier partners.* Strategic benefit consultants recommend ArmadaCare’s innovative insured products to support their product differentiation and to help employers meet the health and benefit needs of various employee constituent groups. Specifically designed to fill gaps in primary coverage, ArmadaCare’s solutions provide tax-efficiency and the ability to offer targeted coverage to select employee classes as defined by the employer. In addition to offering reimbursement for various types of out-of-pocket medical expenses, ArmadaCare’s products include additional health support services and convenience features, all of which are delivered with ArmadaCare’s hallmark world-class service. Learn more at www.ArmadaCare.com.
*Transamerica Financial Life Insurance Company, Transamerica Premier Life Insurance Company and Sirius America Insurance Company