The Executive Edge: 7 Key Advantages of Executive Medical Reimbursement Plans
Welcome to the ultimate solution in the realm of supplemental health insurance: Ultimate Health® by ArmadaCare. Designed with busy executives in mind, this executive medical reimbursement plan helps keep key talent healthy and productive, protects the bottom line and allows companies to position themselves as an employer of choice. Explore the 7 key advantages that make Ultimate Health a smart business decision:
Coverage & Flexibility
Primary plans are typically unable to meet the lifestyle and healthcare needs of the average executive family. Ultimate Health picks up where primary plans fall short with fully insured, supplemental health insurance coverage for a broad range of out-of-pocket expenses. This type of executive medical reimbursement plan provides coverage for everyday and unexpected care, including 213(d) eligible expenses. It expands healthcare coverage far beyond primary medical plan gaps to include:
- Elective executive physicals
- Robust dental and vision coverage, including orthodontia, LASIK and brand name frames (no underlying dental or vision coverage needed)
- Brand-name prescriptions
- And much more…
In addition, Ultimate Health® can be put in place at the start of any month, so there’s no need to wait until the primary health plan is renewed. This flexibility can help employers meet evolving employee needs or address key issues as they emerge
Tax-Efficiency*
Ultimate Health, an employer-paid, fully insured 105(h) plan, offers tax-deductible* premiums for companies and non-taxable* benefits for enrolled employees. While giving out one-time incentives can be enticing, 42% of employees said they would rather receive better health insurance than a raise this year.1 Investing in a supplemental health insurance plan can translate into more take-home value than a comparable salary raise or bonus and serves as a constant reminder of a company’s appreciation for its employees.
Compliance
Unlike cost-plus or self-funded executive medical reimbursement plans, Ultimate Health is REAL insurance, underwritten to the unique characteristics of a group. Claims are submitted directly to ArmadaCare and reimbursed to members under a fully insured policy, keeping clients safe and compliant. Also, because Ultimate Health qualifies as an excepted benefit, employers can carve out by employee class provide targeted coverage based off title, tenure, or performance.
World-Class Service
At ArmadaCare, we believe that executive medical reimbursement plans should be synonymous with world-class service. From streamlined onboarding processes to ongoing support and communication, we empower members to maximize their Ultimate Health benefits. Our suite of conveniences, including 24/7 online claims filing, a swipe-and-go Rx card, and daily direct deposits, ensures rapid reimbursement and fosters high member satisfaction levels.
Key Talent Retention
With top-tier coverage, financial efficiency*, and unparalleled service, Ultimate Health emerges as the premier executive medical reimbursement plan for key talent retention. 47% of business leaders say retaining existing talent is the top concern driving executive compensation strategies, and 93% feel executive benefits have been successful in their talent retention strategies.2 By layering a cost-effective primary plan with executive medical reimbursement from Ultimate Health, your top talent will feel more protected than ever. This, in turn, boosts productivity and protects your bottom line.
Additional Features
Ultimate Health isn’t just about coverage; it’s about restoring leaders to peak health and vitality. That’s why our support services are there when members need it most.
Executive Physicals
Coverage for elective executive physicals, extending to enrolled spouses, facilitates early detection and risk prevention through extensive exams at pre-vetted facilities nationwide.
Get Me Home
A suite of travel services ensures members’ protection, offering fully paid air evacuation, emergency medical referrals and more, when they’re 100+ miles from home, for business or leisure.
TopDoc Connect
Our specialist navigation service expedites members’ journey to optimal health by matching diagnoses and preferences with the best specialists, blending evidence-based technology with expert guidance.
Connect & Thrive**
A dedicated well-being and mental health service ensures members receive the support they need, regardless of their position on the mental health continuum, offering assistance for everyday stressors or crisis care.
Conclusion:
ArmadaCare’s benchmarking data shows a fourfold increase in retention and reveals that 98% of members consider their plan their most important benefit.3 Take a closer look at Ultimate Health® by ArmadaCare. It combines robust supplemental health insurance coverage with a strategic health and wellness program to keep senior leaders happy, healthy, and productive at work—and helps employers protect their most valuable assets.
___________
*This is not local, state or federal tax advice as each person and company is unique. It is recommended that you seek the independent counsel of a professional tax adviser.
Insurance plans and coverage may vary by state. Detailed coverage and exclusions and limitations are listed in the Certificate of Insurance.
Get Me Home, TopDoc Connect and Executive Physical services are coordinated with ArmadaCare’s designated service providers and subject to specific terms, conditions, limitations and exclusions as defined in the policy and corresponding Certificate of Insurance. Get Me Home is available 100+ miles from home.
**Not included with all plan designs. Connect & Thrive services are coordinated with ArmadaCare’s designated service provider and subject to specific terms, conditions, limitations and exclusions as defined in the policy and corresponding Certificate of Insurance.
3 ArmadaCare Engagement Survey, 2022