Plan Changes, Your Very Own Shock-Absorber This Enrollment Season

Complementary Benefits Executive Health November 21, 2018

Primary plan changes are inevitable, especially during this time of year. Changes can often have unintended consequences. But what if you had a way to mitigate those changes and lessen the impact?

That’s where ArmadaCare’s suite of supplemental insured products comes in. As we’ve discussed before, ArmadaCare’s insured plans qualify as excepted benefits, they can be carved out by class. This means employers can offer the plans to select employees. In this case, the employees (like the difficult-to-recruit-and-retain or company leaders) are who the employer doesn’t want to feel the impact of the plan change. Here are some examples of plan changes that can be mitigated with ArmadaCare’s suite of supplemental expense reimbursed insured products.

Increased Deductible

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 some of that coverage by layering onto the primary plan with ArmadaCare’s insured plans (which have $5,000 to $100,000 in annual aggregated coverage). This can fill some or all coverage gaps caused by the raised deductible.

Change in Rx Formulary

Changes to the Rx formulary are typically beyond the employer’s control. But that doesn’t lessen the impact of a prescription going from covered to not-covered. Such a change can really rock an employee’s world. ArmadaCare’s insurance plans provide $1,000 to $25,000 of coverage for routine and unexpected prescription expenses, depending on plan level. Some even provide coverage for brand name or prescriptions not covered by the primary plan.

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. Luckily, several of ArmadaCare’s insured products include vision and dental coverage even without an underlying primary vision or dental plan.

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. Several of ArmadaCare’s insured plans provide out-of-network coverage, which is a great way to mitigate lowered out-of-network primary plan coverage.

In Conclusion

One can receive coverage with ArmadaCare’s insured supplemental products to absorb the shock of rising primary healthcare costs. It’s never a bad thing to be too prepared this holiday season!

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